Daily Archives: September 16, 2022

Interloop Limited, a textile and garments exporter company, has recorded its highest-ever profit of more than Rs. 12.3 billion in the current financial year due to new opportunities, stable operations, and sustainable growth by circumventing the incidents of risk, maximizing efficiency in production, and profit enhancement through various means.

According to the financial results, the profitability witnessed a whopping 96 percent year-on-year growth from the profit of the last year which stood at Rs. 6.2 billion. The board also announced a dividend of Rs. 2 per share.

The earnings per share of the company also increased to 13.76 from 7.

According to the stock filing, a sum of Rs.  359 million will be utilized out of the share premium account of the company and applied towards the issue of 35,934,535 ordinary shares of Rs. 10 each to be allotted as fully paid bonus shares in the proportion of four ordinary shares for every hundred shares held by a shareholder of the company.

Interloop Limited is the manufacturer of hosiery, denim, knitwear, and seamless products. The company through these products to various famous brands including Levi’s, Nike, Adidas, Puma, and Reebok.

The company is operating in different export markets through partners and associates including the USA, Japan, Netherlands, Switzerland, etc.

Source: Pro Pakistan

China’s President Xi Jinping has urged the regional countries to reshape the international order in a more just and rational direction.

Addressing at the meeting of the Shanghai Cooperation Organization, Xi said leaders should “work together to promote the development of the international order by abandoning the bloc politics. He said that the nations should uphold the international system with the United Nations at its core.

Source: Radio Pakistan

Turkish President Recep Tayyip Erdogan says Ankara is making sincere efforts to end the crisis in Ukraine through diplomacy as soon as possible.

He was speaking at the second session of Shanghai Cooperation Organization summit in Samarkand, Uzbekistan.

Erdogan said Türkiye will increase cooperation with the regional bloc to a higher level with joint efforts.

Source: Radio Pakistan

The United States has imposed sanctions on Russian officials and companies in a bid to increase pressure on Moscow over Ukraine issue.

In a statement, the U.S. Secretary of State Antony Blinken said the United States continues to hold the Russian government to account for its war against Ukraine.

In addition, the US Commerce and Treasury Department issued ban on the export of quantum computing technology and related software and hardware to Russia and Belarus.

Source: Radio Pakistan