Garena has announced a partnership with global icon Justin Bieber as part of Free Fire’s 5th anniversary celebrations. Set to be the biggest to date, this year’s festivities include bringing back players’ favourite themed contents, exclusive rewards and giveaways, as well as a series of collaboration events and activities, both in-game and beyond.… Continue
Author Archive: Siddiqi
NKATI, Karachi Police Chief join hands to make industrial area crime-free
Additional IG Karachi, Javed Alam Odho, while addressing the North Karachi Association of Trade & Industry (NKATI), has said that providing foolproof security to the business community is the top priority. North Karachi can use all resources to ensure a conducive and peaceful environment in the industrial area, and surveillance cameras will be installed to make the industrial area crime-free.… Continue
NITL declares dividends for the year ended June 30 2022
National Investment Trust Limited (NITL), has declared its annual results for its funds under management for the year ended 30th June 2022. NITL has distributed total dividend of over Rs. 4.77 Billion for the year FY22 representing an impressive 73% growth over previous year.… Continue
Mastercard partners with Bank Alfalah to accelerate E-commerce across Pakistan
Mastercard has announced a strategic partnership with Bank Alfalah, which will see the bank’s online payment gateway infrastructure accept a wider array of cards, including the ability to make China Union Pay online payments in the market for the first time.… Continue
United States donates four Mobile Laboratories to strengthen Pakistan’s COVID-19 Testing
The U.S. government, through the U.S. Agency for International Development (USAID), presented four mobile laboratories valued at $4.6 million to Pakistan’s National Institute of Health to strengthen Pakistan’s capacity to diagnose COVID-19 and other communicable diseases. The state-of-the-art facilities will improve the accuracy of diagnoses, reduce testing turnaround time, and better protect healthcare workers, especially in remote locations where access to testing is limited. … Continue
Beaconhouse School System signs MoU with Pearson-Edexcel
Pearson-Edexcel and Beaconhouse School System, Pakistan’s largest network of private educational institutions, have signed a Memorandum of Understanding (MoU) to provide assessment services and international academic qualifications to support students’ learning by offering world-class qualifications.
The MoU signing ceremony was held here on Wednesday at a local hotel.… Continue
Climate change becomes a major threat to food security: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance and Former Provincial Minister Mian Zahid Hussain said climate change had become a major threat to Pakistan’s national and food security.
Despite the severe water shortage in the country, more than half of the water is being wasted, which must be stopped, he said.… Continue
Use of technology to boost 25+ million livelihoods in Pakistan: AgriTech
Advancing its ambition to further innovation and empower the agriculture sector, Telenor Pakistan, in collaboration with Tabadlab and the GSMA, has unveiled a report, ‘AgriTech: Crafting Pakistan’s Journey to Impact’. The report identifies existing challenges to the sector and evaluates the impact that AgriTech will have on accelerating growth.… Continue
Daily cargo handling report of Karachi Port Trust
The Karachi Port Trust handled 157,033 tons of cargo comprising 121,498 Tones of import cargo and 35,535 Tons of export cargo during last 24 Hrs ending at 0700 Hours.
TOTAL IMPORT CARGO:
The total import cargo of 121,498 comprised of 55,421 Tons of Containerized Cargo, 14,022 Tons of Bulk Cargo, 480 Tons of DAP and 51,575 Tons of Oil and Liquid Cargo.… Continue
Efert BMR of old plants improve their production
EFERT production has improved and grew at a 3-year CAGR (2018-2021) of 5% against an industry CAGR of 2%. This was on the back of the improved gas supply and efficiency of the Enven plant. Further, the company has undertaken a BMR of old plants, which is expected to improve their production.… Continue
Engro Polymer & Chemicals, UET Lahore partner for industry-academia linkage program
Engro Polymer & Chemicals (EPCL), a subsidiary of Engro Corporation, has signed a Memorandum of Understanding (MoU) with the prestigious University of Engineering & Technology (UET), Lahore, to strengthen industry-academia linkage through cooperation in research and innovation along with professional development opportunities for students.… Continue
The benchmark KSE-100 index witnessed sluggish session
· The benchmark KSE-100 index witnessed sluggish session. Investor’s participation continued to remain dry due to concerns regarding rate hike in the upcoming monetary policy and PKR depreciation against the dollar. Main board activity remained dull but decent volumes were recorded in the 3rd tier stocks.… Continue
Pakistan fertilizer sales are likely at 724k tons in Jun-2022, up 5% YoY
Pakistan’s urea sales in Jun-2022 expected to clock in at 724k tons, up 5% YoY. The same is also likely to be up 74% MoM due to seasonal impact. Urea sales in 1H2022 are expected to clock in at 3,234k tons compared to 2,899k tons in 1H2021, up 12% YoY due to strong Urea demand amid a higher gap between Urea and DAP.… Continue
Government should reconsider & withdraw super tax: SM Muneer
Patron-in-Chief of Korangi Association of Trade and Industry (KATI) SM Muneer and President Salman Aslam have demanded the withdrawal of a 10 percent super tax on 13 sectors by the government. They said that with this government move, economic activities are declining with each passing day.… Continue
FrieslandCampina Pakistan wins regional corporate citizenship award for sustainability
FrieslandCampina Pakistan was awarded the Gold Standard Award 2022 for Corporate Citizenship (CSR and Sustainability) by the Public Relations & Communications Association Asia Pacific (PRCA APAC) at a ceremony in Singapore.
Recognised for its Dairy Development Program – an initiative designed to increase inclusion, profitability and quality for the dairy farmers of Pakistan and transform the dairy sector – the company competed in the prized CSR & Sustainability category against prominent names from the AsiaPacific region, including HP, Nestle, Novartis and Edelman.… Continue
Pakistan-Afghanistan future belongs with each other: PAJCCI
PAJCCI held stakeholders meeting at Chamma Border Crossing, the most active trading border in Baluchistan and famous across the country for the supply of grapes, apricots, plums, peaches, melons, apples and other fruits. The meeting was arranged at Chaman Center and attended by a large number of business community members of both sides, Government officials consisting of Abid Hussain; Director Transit Trade, Col.… Continue
Karachi is experiencing the worst load shedding in history: Consumer Association of Pakistan
Karachi has faced the worst load shedding in history. People do not sleep well at night, but there is even a long shutdown during the day. Despite this, NEPRA has approved increasing the electricity price by Rs. 9.42 paise. NEPRA was set up to protect the rights of consumers, but now this authority is working entirely in the interest of the power companies; an example is the decision to be made without hearing from the consumers.… Continue
Policy Rate likely to increase by 100bps on July 07
The monetary policy committee of SBP will convene on Thursday (July 07, 2022) to announce the first scheduled monetary policy of FY23. We expect SBP to increase the policy rate by 100bps to 14.75% in the upcoming monetary policy.
To recall, in the monetary policy meeting held in May’22, the State Bank of Pakistan (SBP) increased the benchmark policy rate by 150bps to 13.75% (highest since Jun’11 – 14%).… Continue
The second iteration of the Make Space Hackathon in Karachi
The Make Space Hackathon is a virtual competition aimed at empowering change-makers to create tech-enabled solutions addressing Pakistan’s pressing population crisis. With over 600 applications from across the country, the enthusiasm and drive to develop innovative solutions were palpable before the competition kicked off.… Continue
The market observed a negative session today as Pak Rupee depreciated against USD
· The market observed a negative session today as Pak Rupee depreciated against USD. Investor’s participation stayed lackluster over concerns of resumption of IMF program. Volumes remained dry in the main board whereas decent volumes were witnessed in the 3rd tier stocks.… Continue
Easypaisa and Bank of Khyber partner for KPK’s Insaf Food Programme
Easypaisa, Pakistan’s leading digital payments app, has partnered with the Bank of Khyber to ensure seamless distribution of funds to beneficiaries in KPK under the Insaf Food Programme.
Through the strategic partnership, beneficiaries of the programme will be able to receive PKR 2100 every month in their Easypaisa mobile wallet or collect cash from any Easypaisa agent to meet their essential food related needs.… Continue
Cement dispatches declined by 7.91 percent during fiscal year 2021~22
All Pakistan Cement Manufacturers Association (APCMA) released twelve months of local and overseas dispatch data today. During the fiscal year July 21 – June 22, total cement dispatches (domestic and exports) were 52.89 million tons which are 7.91 percent lower than 57.43 million tons dispatched during the last fiscal year.… Continue
KCCI appeals for immediate release of containers and waiver of demurrages
Karachi Chamber of Commerce and Industry (KCCI) has strongly denounced the non-clearance of containers at the ports subsequent to the ban imposed on luxury items. The ban was imposed on 85 categories of luxury items vide SRO 598 (i)/2022 which was issued on May 19, 2022.… Continue
Jazz launches “GameNow Esports Platform”
Jazz, Pakistan’s number one 4G operator and the largest internet and mobile broadband provider, has launched its Esports platform GAMENOW ESPORTS with registrations now open for proleague season 1. The league features six popular games: PUBG Mobile, FreeFire, DOTA 2, Valorant, Call of Duty 4 and Asphalt 9 with cash prizes ranging from PKR 500,000 to 1,000,000.… Continue
Silkbank and TPL Insurance – Launch of all in one current account
As part of providing tailored solutions and unique value added features for our customers, Silkbank has launched All-in-One Current Account offering 
complimentary insurance coverages in collaboration with TPL Insurance as an insurance solution provider.
To mark the occasion, an MoU signing ceremony was held at the Silkbank Head Office, Karachi on 29th June 2022.… Continue