Technical or vocational education is the backbone of any country’s industrial development. The biggest example of this is our neighbor China. Which has a leading position in the world in manufacturing and exports. This was stated by Salman Aslam, President, Korangi Association of Trade and Industry (KATI) while addressing a function at Government Polytechnic Institute for Women, Korangi, and Landhi as a special guest.… Continue
Khalil Shahab has been appointed as country manager to lead VavaCars acceleration and investment in Pakistan. Khalil was previously the Chief of Staff for a $1 billion fund focused on healthcare investments across emerging markets. He brings an extensive experience spanning various sectors including private equity, real-estate development, and operations. … Continue
The State Bank of Pakistan (SBP) released its Annual Payment Systems Review (PSR) for the fiscal year 2020-21 today, which shows strong growth in the space of digital financial transactions in the country. SBP continued its pursuit for the development of a robust and efficient payments ecosystem in Pakistan.… Continue
VMworld 2021—Today’s modern enterprises are facing an evolving threat landscape and increasingly sophisticated cyberattacks. They require security that is both built-in and built differently. More than 30,000 customers trust VMware to help protect their enterprise, modern and edge-native apps with a comprehensive portfolio of security solutions that are highly effective and easy to use.… Continue
DG Khan Cement Company Limited (DGKC) is scheduled to announce its 1QFY22 earnings on Monday (25th Oct’21), whereby we expect the company to post a PAT of PKR 677mn (EPS: PKR 1.55) against a loss in same period of last year of PKR 351mn (LPS: PKR 0.80) and PAT of PKR 873mn (EPS: PKR 1.99) in 4QFY21.… Continue
The financial result of Indus Motor Company Limited (INDU) is scheduled to be announced on October 25th, 2021.
We expect profitability during 1QFY22 to increase significantly by 121% YoY while down by 8% QoQ to PKR 4,080mn (EPS: PKR 51.91) against PKR 1,845mn (EPS: PKR 23.48) during 1QFY21 and PKR 4,413mn (EPS: PKR 56.15) last quarter.… Continue
Chairman National Highway Authority Capt ® Muhammad Khurrum Agha along with NHA officers and stakeholders visited Service Areas & Rest Areas located along Sukkur-Multan Motorway (M-5) in order to check the service delivery to Commuters. During visit, he checked that Deputy Commissioner (DC) approved rate lists of different items.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the disadvantages of devaluing the rupee are more than advantages as it is hitting the entire population and stoking poverty.… Continue
With a commitment to preserve nature, Dawlance has collaborated with WWF-Pakistan to promote environmental sustainability and has taken up the mission of planting 10,000 trees in the vicinity of Karachi University.
This extensive plantation drive signifies the importance of nature’s ecological balance for the prevention of global-warming and climate-change.… Continue
Enhancing the e-commerce avenues, foodpanda, Pakistan’s leading delivery app, has partnered with Naheed to deliver groceries and essential items in Karachi via pandago, a rider on demand service.
A signing ceremony took place in Karachi to kick off this partnership. Raafay Munir, Head of New Verticals foodpanda, and Mohammad Fahad, Head of eCommerce Naheed and Munsub Abrar, CEO Naheed were present on the occasion.… Continue
From urban kiosks and rural farmers to fashion stores, service providers and entrepreneurs in countless other sectors, the small business segment in the United Arab Emirates has faced unprecedented changes in the wake of the COVID-19 pandemic, further fueled by the rapid acceleration of digital transformation and e-commerce.… Continue
Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees, after listening to the hardships being faced by traders of Jodia Bazaar, assured that the Karachi Chamber will take up all issues being faced by the traders/ shopkeepers of Jodia Bazaar with relevant quarters and will try its best to get them amicably resolved so that the traders and shopkeepers, who are an integral part of KCCI, could smoothly carry out their activities without any hassle.… Continue
The Karachi Port Trust handled 108,445 tons of cargo comprising 96,559 Tones of import cargo and 11,886 Tons of export cargo during last 24 Hrs ending at 0700 Hours.
TOTAL IMPORT CARGO:
The total import cargo of 96,559 comprised of 14,902 Tons of Containerized Cargo, 16,949 Tons of Bulk Cargo, 11,116 Tons of DAP, 15,542 Tons of Wheat and 38,050 Tons of Oil/Liquid Cargo.… Continue
ACCA (the Association of Chartered Certified Accountants) announces the pass rates of its latest exam sitting for September 2021. About 93,635 students entered the September 2021 exam sitting to complete 117,693 exams despite on-going disruption because of the Covid-19 pandemic. A total of 3,222 students completed their final exams to become ACCA affiliates.… Continue
Held under the theme of “Collaboration to Drive Innovations in the Arab World,” Huawei Arab Innovation Day 2021 witnessed landmark keynotes and discussions led by ministerial and senior leaders from the Arab governments, regional and international ICT organizations, and high-level technology stakeholders from different verticals and industries.… Continue
Oil and Gas Development Limited, being the operator of Jandran West Exploration License with 100% Working Interest, has made a Gas discovery over Mughalkot Formation from its exploratory efforts at Jandran West X-1 well which is located in Kohlu District, Balochistan Province, Pakistan, says as per the notice issued to PSX yesterday,
It adds that Jandran West X-1 well was spudded in on 19th May 2021 as an exploratory well and drilled down to a total Depth of 1627m into Parh Formation.… Continue
The Karachi Port Trust handled 110,948 tons of cargo comprising 92,524 Tones of import cargo and 18,424 Tons of export cargo during last 24 Hrs ending at 0700 Hours.
TOTAL IMPORT CARGO:
The total import cargo of 92,524 comprised of 10,288 Tons of Containerized Cargo, 6,646 Tons of Bulk Cargo, 15,240 Tons of DAP, 6,710 Tons of Rock Phosphate, 320 Tons of Sugar, 16,913 Tons of Wheat and 36,407 Tons of Oil/Liquid Cargo.… Continue
South Asia’s leading online marketplace, Daraz, has joined hands with CricWick to bring the ‘CricWick Fantasy League’ on Daraz App during the T20 World Cup.
The anticipated cricket season is geared to be one of the busiest home seasons in Pakistan, with the series starting off on 23rd October 2021.… Continue
Pakistan Telecom Company Limited (PTCL) and Ufone have been recognized at the Best Place to Work Awards 2021 organized by Pakistan Society of Human Resource Management (PSHRM) and Engage Consulting, during a ceremony held in Karachi.
Awards were announced on the basis of independent surveys conducted by PSHRM and Engage Consulting to study human resource management practices and work environment in over 160 companies from all over Pakistan.… Continue
According to State Bank of Pakistan dated October 21, 2021, the total liquid foreign reserves held by the country stood at US$ 24,327.4 million on 15-October-2021. The break-up of the foreign reserves position is as under:-
Foreign reserves held by the State Bank of Pakistan: US$ 17,492.2 million
Net foreign reserves held by commercial banks : US$ 6,835.2 million
Total liquid foreign reserves : US$ 24,327.4 million
During the week ended 15-October-2021, SBP reserves decreased by US$ 1,646 million to US$ 17,492.2 million, mainly due to external debt repayment that included repayment of US$ 1,000 million against Pakistan International Sukuk.… Continue
Engro Corporation Limited (ENGRO) is expected to announce its 3QCY21 financial result on 22nd Oct’21, where we expect the company to post a consolidated earnings of PKR 7,878mn (EPS: PKR 13.67), down by 15% YoY.
On the fertilizer business front, EFERT’s bottom-line clocked-in at PKR 4,412mn (EPS: PKR 3.30), depicting a decline of 37% YoY during 3QCY21 given i) fall in urea and DAP offtake by 9% and 46% YoY, respectively and ii) drop in gross margin by 324bps YoY, settling at 25.72% since company is accruing industrial feed gas rate at EnVen plant as concessionary gas period has ended on 30th Jun’21.… Continue
Carrefour,owned and operated by Majid AlFuttaim in Pakistan,became the only brand within modern retail sector to have received a special recognition of being the ‘Best taxpaying Company’ at the inaugural Taxpayer Recognition Awards 2021,hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI) in collaboration with the Federal Board of Revenue (FBR).… Continue
The Board of Directors of Shell Pakistan Limited (SPL) announced the third quarter results for the company on 21st October. The company posted a profit after tax of PKR 296 million compared to the profit of PKR 1,812 million made in the same period last year.… Continue
Chairman National Highway Authority Capt ® Muhammad Khurrum Agha visited under construction Lodhran-Multan Highway Project. He expressed his complete satisfaction on the pace and quality of work. He directed to complete construction work in stipulated time period for people’s convenience. NHA’s General Manager Lodhran-Multan Project Mr.… Continue
BankIslami, one of the leading Islamic banks of Pakistan with a network of more than 340+ branches in over 123 cities, has entered into an agreement with M3 Technologies Pakistan (Pvt) Ltd, one of Asia’s premier communication services provider for business and telecom operators.… Continue