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Arif Habib Group
Arif Habib Corporation Limited, also known as Arif Habib Group, () is a Pakistani business conglomerate company based in Karachi, Pakistan. It was founded by Pakistani businessman Arif Habib. History Arif Habib Group started its operations as a pure capital markets firm in 1970 and was engaged in brokerage business since its inception. In 1994, it incorporated itself as the Arif Habib Securities. In 2006, the group acquired Rupali Bank and renamed it as Arif Habib Bank. In 2007, the Arif Habib Group was considered a fairly large financial services conglomerate in Pakistan. It owned one large asset management company, a big investment bank, a securities brokerage firm and a retail bank. During the 2008 worldwide financial crisis, it was at brink of collapse. In 2009, the group sold the bank to Suroor Investments for () which then merged with Atlas Bank and Mybank to form Summit Bank. In 2010, the group merged its investment arm, Arif Habib Investments, with MCB Asset Manageme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karachi
Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former capital of Pakistan and capital of the province of Sindh. Ranked as a beta-global city, it is Pakistan's premier industrial and financial centre, with an estimated GDP of over $200 billion ( PPP) . Karachi paid $9billion (25% of whole country) as tax during fiscal year July 2021 to May 2022 according to FBR report. Karachi is Pakistan's most cosmopolitan city, linguistically, ethnically, and religiously diverse, as well as one of Pakistan's most secular and socially liberal cities. Karachi serves as a transport hub, and contains Pakistan’s two largest seaports, the Port of Karachi and Port Qasim, as well as Pakistan's busiest airport, Jinnah International Airport. Karachi is also a media center, home to news channels, film and fashi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 243 million people, and has the world's Islam by country#Countries, second-largest Muslim population just behind Indonesia. Pakistan is the List of countries and dependencies by area, 33rd-largest country in the world by area and 2nd largest in South Asia, spanning . It has a coastline along the Arabian Sea and Gulf of Oman in the south, and is bordered by India to India–Pakistan border, the east, Afghanistan to Durand Line, the west, Iran to Iran–Pakistan border, the southwest, and China to China–Pakistan border, the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the north, and also shares a maritime border with Oman. Islamabad is the nation's capital, while Karachi is its largest city and fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arif Habib
Muhammad Arif Habib ( ur, ; b. 1953) is a Pakistani business magnate and stock market trader who is the founder of the Arif Habib Group. As of 2012, Arif Habib Group had 11,000 employees and annual revenue of Rs. 100 billion. He also serves as member of Boards of Governors of Karachi School of Business and Leadership (KSBL). Early life Habib was born to a Memon family in Karachi as the youngest of nine siblings. His family were from Bantva, Gujarat, where they owned a tea venture and several properties. Following the independence of Pakistan in 1947, they left behind their businesses and migrated to Pakistan. He enjoys cricket and is a noted philanthropist, serving as a trustee of organisations such as Fatimid Foundation and Memon Health and Education Foundation, and as director of the Pakistan Centre for Philanthropy (PCP) and Karachi Education Initiative. Business career In 1970, at the young age of 17, Habib began his career as a stockbroker at the Karachi Stock Exchange (KSE), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conglomerate (company)
A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates are often large and multinational. United States The conglomerate fad of the 1960s During the 1960s, the United States was caught up in a "conglomerate fad" which turned out to be a form of speculative mania. Due to a combination of low interest rates and a repeating bear-bull market, conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from the 1960s include Ling-Temco-Vought,. ITT Corporation, Litton Industries, Textron, and Teledyne. The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arif Habib Bank
Summit Bank ( ur, ) is a Pakistani commercial bank, which is a subsidiary of Suroor Investment and is in Karachi, Pakistan., a Mauritius investment company. It has a network of 193 branches across the country. History In 2007, Arif Habib Securities Limited acquired Pakistan Operations of Rupali Bank Limited, under the Scheme of Amalgamation by the State Bank of Pakistan The State Bank of Pakistan (SBP) ( ur, ) is the Central Bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was Nationalized and .... In 2010, Suroor Investments Ltd. acquired a 59.41% stake in Arif Habib Bank Ltd. Suroor Investments is an investment firm based in Mauritius. Later in 2010, Arif Habib Bank Ltd. was rebranded under the name of Summit Bank Ltd. Suroor Investments Ltd. acquired the majority shares of Atlas Bank Ltd. and MyBank Ltd. and these banks were later on came under the u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Summit Bank
Summit Bank ( ur, ) is a Pakistani commercial bank, which is a subsidiary of Suroor Investment and is in Karachi, Pakistan., a Mauritius investment company. It has a network of 193 branches across the country. History In 2007, Arif Habib Securities Limited acquired Pakistan Operations of Rupali Bank Limited, under the Scheme of Amalgamation by the State Bank of Pakistan The State Bank of Pakistan (SBP) ( ur, ) is the Central Bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was Nationalized and .... In 2010, Suroor Investments Ltd. acquired a 59.41% stake in Arif Habib Bank Ltd. Suroor Investments is an investment firm based in Mauritius. Later in 2010, Arif Habib Bank Ltd. was rebranded under the name of Summit Bank Ltd. Suroor Investments Ltd. acquired the majority shares of Atlas Bank Ltd. and MyBank Ltd. and these banks were later on came under the um ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistani Rupee
The Pakistani rupee ( ur, / ALA-LC: ; sign: Re (singular) and Rs (plural); ISO code: PKR) is the official currency of Pakistan since 1948. The coins and notes are issued and controlled by the central bank, namely State Bank of Pakistan. In Pakistani English, large values of rupees are counted in thousands; lakh (100,000); crore (ten-millions); Arab (billions); kharab (100 billion). Numbers are still grouped in thousands (123,456,789 rather than 12,34,56,789 as written in India) History The word ''rūpiya'' is derived from the Sanskrit word ''rūpya'', which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is` derived from the noun ''rūpa'' "shape, likeness, image". ''Rūpaya'' was used to denote the coin introduced by Sher Shah Suri during his reign from 1540 to 1545 CE. The Pakistani rupee was put into circulation in Pakistan after the dissolution of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aisha Steel Mills
Aisha Steel Mills Limited (ASML) () is a Karachi-based steel manufacturing company with production capacity of 220,000 metric tons per year. It is owned by Arif Habib Group. Its plant is located at Bin Qasim, Karachi and produces at a capacity of 220,000 metric tons per year. History Aisha Steel Mills was founded in 2005 as a joint venture between Arif Habib Group, Metal One Corporation, a subsidiary of Mitsubishi and Universal Metal One, one of the world's largest steel trading companies. In 2012, it had an initial public offering (IPO) and was oversubscribed by 2.7 times. In the same year, the company started commercial operations. In 2017, under China-Pakistan Economic Corridor (CPEC) agreement between the governments of China and Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's fifth-most populous country, with a population of almost 243 million people, and has the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silk Bank
Silkbank Limited, () formerly known as Saudi-Pak Commercial Bank, is a Pakistani commercial bank which is based in Karachi, Pakistan. It has a branch network of 111 in 29 cities. History Prudential Commercial Bank Limited The bank was founded in 1994. It began commercial operations on May 7, 1995. It has a network of twenty branches. Saudi-Pak Commercial Bank Saudi Pak Industrial and Agricultural Investment Company (Pvt) Ltd (SAPICO) acquired Prudential Commercial Bank Limited on September 15, 2001. The SAPICO gave the bank a new name: Saudi Pak Commercial Bank. Silkbank Limited In March 2008, a consortium comprising International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of ..., Bank of Muscat, Nomura and Sinthos Capital led by Pakistani banker Sha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conglomerate Companies Of Pakistan
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Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Conglomerate (record label), a hip hop label founded by Busta Rhymes * The Conglomerate (Australian group), a jazz quartet See also * Conglomerate Ridge, in the Ellsworth Mountains, Antarctica * ConGlomeration (convention) ConGlomeration was an annual multigenre convention held in or around Louisville, Kentucky between 2001 and 2019. ConGlomeration was an all-volunteer non-profit organization which, as part of its convention programming, conducted charitable acti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Karachi
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
