DP World and UNICEF have announced a wide-ranging partnership to support the global distribution of COVID-19 vaccines and related immunisation supplies in low- and lower-middle-income countries.

The new partnership – with a multi-million dollar value – is the largest to date to support UNICEF’s lead role in procuring and supplying 2 billion doses of COVID-19 vaccines and auxiliary vaccination supplies on behalf of the COVAX Facility.

·          Key decisions to be taken at today’s ECC Meeting kept the interest alive at the bourse with PSO contributing positively to the index, supported by a surge in Cement sector stocks. Technology stocks continued uptrend in today’s session, which helped the index post decent gains.

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said the gas crisis is not only hitting economy and employment but it has also blocked new investments.

As per NFDC data, Urea offtake during December 2020 clocked in at c.881k tons, up 65% mom and down 35% yoy. The mom increase was due to better farm economics coupled with anticipated Urea price increases going forward. On a cumulative basis, however, total Urea offtake in CY20 decreased 3% yoy to 6.04mn tons.

The British Council and DEMO have announced the opening of applications for the Creative Communities Empowerment programmes – DICE Creative Hubs. Under the British Council’s Developing Inclusive and Creative Economies (DICE) programme, this empowerment programmes will support and curate eight meaningful activities enriched with powerful industry specific content.

Aggressive branch expansion where the bank has opened 86 new branches (total branches: 804) since the start of CY20 has enabled BAHL to post unbeatable deposit growth rate of 26.3% YoY, surpassing industry deposit growth by 5.9ppts and PKR 1.0trn mark for the first time in bank’s history in CY20.

Three leading institutions in the UAE today announced they have joined the World Logistics Passport (WLP), a major initiative established to increase trading opportunities between developing markets. The WLP is helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent developing economies from trading as freely as they might.

United Business Group’s Patron in Chief and former President FPCCISM Muneer has expressed hope that Pakistan’s exports will increase significantly in the next six months. Domestic and the economy will improve further. S.M. Muneer said that all the country’s industries have started benefiting from the increase in exports and the economy are continuously improving.

Stop Illegal Trade (SIT) Pakistan has expressed concerns over the misreporting of facts regarding tobacco sector. “Distorted facts are misleading for policy makers and encouraging illicit trade of cigarettes in Pakistan,” said a statement.

“Instead of raising public awareness to curb the smoking trend, few organizations are presenting misleading statistics to the government and policy makers.

K-Electric (KE), Pakistan’s only vertically integrated power utility, has joined hands with Avanza Solutions, one of the leading Fintech organizations across the globe, to implement Real Time Payment System (RTPS).

Real Time Payment System (RTPS) is based on Avanza’s e-BPS which is a bill payment platform powered by Rendezvous, ‘an enterprise middleware’, that enables organizations to provide delivery channel services.

South Asia showed a marked improvement in confidence and orders in Q4, after exceptionally weak Q3 survey results

Accountants and finance professional experts say economic confidence in Q4 2020 stalled and remains fragile heading into 2021, finds the latest ACCA and IMA Global Economic Conditions Survey (GECS).

The Universal Service Fund (USF) awarded contract worth approximately PKR 254 Million to Jazz for providing High Speed Mobile Broadband services in rural and remote areas of Punjab. Federal Minister for IT and Telecommunication, Syed Amin Ul Haque and Federal Minister for Science and Technology, Fawad Chaudhry witnessed the contract signing ceremony held at the Ministry of IT and Telecommunication, Islamabad on Monday.

· Market continued the buoyant mood with an increase of 310pts during the session, and ending +200pts (unadjusted). Cement sector performed well today on the back of an expectation of increase in Cement price / bag. Similarly, E&P and O&GMCs performed due to an uptick in international crude price as well as a pending decision over revision of OMCs dealer margins, which is expected to be taken in tomorrow’s ECC meeting.

To recognize the contribution in promoting Gender Equality in Pakistan, Overseas Investors Chamber of Commerce and Industry (OICCI) recently awarded P&G Pakistan with the title of Champion of 2020 at the OICCI Women Empowerment Awards 2020. The virtual award ceremony was attended by a large number of CEOs, HR and other senior executives from different OICCI member companies, as well as diplomats and other distinguished guests.

Furthering the vision of the Government of Pakistan & the State Bank of Pakistan to facilitate the construction and housing sector, Bank Alfalah and Zameen.com signed a Memorandum of Understanding (MoU) to bring greater convenience and easier access to customers across the country.