Karachi Arts Council’s Adabi Committee and Dunya-e- Adab Magazine organized 69th poetic session of poetry and speech in Manzar Akbar Hall yesterday. The event was presided by Zahoor-ul-Islam Javaid whereas Miss Neel was the host.

Two young poets Zaib Aurangzeb and Irum Zehra presented their poetry.

Signify (Euronext: LIGHT), the world leader in lighting, today announced Interact Pro, the latest addition to its Interact IoT-ready portfolio at IAPEX 2019 exhibition. It’s the first multi-tasking, smart lighting system and software developed for small and medium-sized enterprises (SMEs) and is Signify’s latest step to extend its growth and leadership in connected lighting systems, software and services.

In a major cabinet reshuffle yesterday, Mr. Asad Umar has resigned as Finance Minister and will reportedly be replaced by Dr. Abdul Hafeez Shaikh who will act as the Adviser on Finance. Other major cabinet changes include new appointments at the Petroleum, Information and Interior ministries, with the Prime Minister moving quickly to appease early signs of populist discontent, says a report of IMS Research.

Secretary Agriculture Sindh Agha Zaheer Uddin assured to provide facilitation for the promotion of Agricultural exports while addressing a gathering of traders and a foreign delegation at Korangi Association of Trade & Industry (KATI). President KATI Danish Khan, Senior Vice President Faraz-ur-Rehman, Chairman & CEO KITE Zubair Chhaya , Head of KATI’s Standing committee on R&D Syed Wajid Hussain, Chairman of Pakistan Southern Africa Business Forum Rafiq Memon, Gulzar Feroz, DG TDAP Azhar Ali and others also expressed their views and suggestion on the occasion.

A delegation from the Turkish Consulate General in Karachi, headed by His Excellency Mr. Tolga Uçak, Consul General of Republic of Turkey, and his team visited the Central Depository Company (CDC) on April 18, 2019. Representatives of leading Pakistani corporates and Turkish Businesses in Pakistan attended this event.

Nestlé Pakistan organized a blood donation camp in collaboration with Pakistan Red Crescent (PRC) in Lahore. The blood donation drive at Nestlé’s head office was conducted as part of its Employee Volunteer Program – a platform for its employees give back to the society.

Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) has extended his heartiest felicitation to Dr. Abdul Hafeez Shaikh on his appointment as Advisor to the Prime Minister on Finance for which he rightly deserved by virtue of his long and versatile experience of serving the country in various fields including Finance Ministership from 2010-2013; Minister for Privatization as well as Provincial Finance Minister of Sindh.

According to BMA Research, a volatile session was witnessed at the local bourse over the course of the outgoing week where multiple sector specific, political and macroeconomic developments kept investors jittery. During the earlier part of the week, news flow emerged pointing towards finalization of a potential bailout package with the IMF, however, investors remained unfazed by the development as FATF imposed a stringent condition of documenting the country’s total bullion trade.

State Bank of Pakistan (SBP) organized the 23rd Zahid Husain Memorial Lecture on April 19, 2019 at SBP Karachi. Mr. Zhou Xiaochuan, ex-Governor Peoples Bank of China, delivered the lecture on “Lessons from the Role of Peoples Bank of China in China’s Economic Rise”.

The Overseas Investors Chamber of Commerce and Industry (OICCI), today announced the date of the Investment Conference themed ‘Pakistan Rising’, which will be held on Friday June 21, 2019 in London. This Conference, which will be chaired by the Prime Minister of Pakistan, Mr.

Consul General of Sri Lanka G.L Gnanatheva said that trade volume with Pakistan would increase in coming years, while he was addressing a meeting held at Korangi Association of Trade & Industry(KATI). President KATI Danish Khan, Senior Vice President Faraz-ur-Rehman, Head of KATI’s standing committee on Foreign Affairs Masood Naqi, Vice President Maheen Salman and others also expressed their views on the occasion.

A Memorandum of Understanding (MoU) has been signed between BankIslami, BIPL Securities and Kifayah Investment Company with the aim to promote investment culture for Non Resident Pakistanis (NRPs) and locals in Pakistan by providing them a one stop solution for all their investment needs.

The UK-funded Karandaaz has signed investment agreements with seven women-led businesses to help women’s small and medium enterprises in Pakistan. These include New Age Flour and General Mills, Web Work Solution, M-Tex, Lel, Noha Global, Kamal Impex and Saira Rizwan.

The second round of the challenge provided business advisory support to 19 women-led businesses from across the country.

Hybrid warfare was a blend of conventional and irregular war fighting techniques along with employing other non-kinetic means to undermine an enemy’s strength. This type of warfare was more catastrophic in essence, as it pervades into multifaceted frontiers of enemy’s territory; psychologically undermining its decision making capabilities, systematically crippling its financial and information networks using cyber technology, economic strangulation via coercive economic diplomacy and leveraging its influence over international actors and institutions and meanwhile, developing and maintaining a robust defence posture.

The total liquid foreign reserves held by the country stood at US$16,195.9 million on 12April2019.The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan: US$ 9,243.7 million

Net foreign reserves held by commercial banks : US$ 6,952.2 million

Total liquid foreign reserves                  : US$ 16,195.9 million

During the week ending 12April2019, SBP’s reserves decreased by US$1,028 million to US$9,243.7 million, due to payments on account of external debt servicing, including principal repayment of US$1,000 million against Pakistan Sovereign Bond.