Tourists to Dubai assured of safe visits and smooth travel

As travellers mull over their summer vacation plans, Emirates and Dubai is sending out the clear message that tourists are welcome to enjoy the city’s many attractions, with various measures put in place for safe visits and smooth travels.

Tourists can easily apply for visas in advance, or get their visa stamped on arrival if they hold a passport from one of 70 countries and territories, as per the entry and immigration regulations that were in place pre-pandemic.

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PSX continues to move upward

Market opened on a positive note with +131pts and added a total of 670pts on the board to almost touch 40K level. The index also realized highest value traded of Rs, 26B, which was last observed in 2017. While E&P stocks saw, selling pressure, Cement and banking sectors took the lead and carried the momentum.

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PSX during the July 20

According to Spectrum Research, after recording a change of -16% CYTD till the end of June the index showed recovery in the month of July by rallying 4,849pts, the KSE-100 Index concluding the month with impressive gains. The KSE-100 Index while recording an upward move over the month, touched a peak of 39,270pts, with a low 34,490pts and closed at 39,258pts making the total change for the month at a gain of 4837pts(up 14.05%MoM) and bringing down the CYTD from -16% in June’20 to -5.14% in July’20.

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Pakistan’s liquid foreign reserves position

The total liquid foreign reserves held by the country stood at US$ 18,912.2 million on 24-July-2020.The break-up of the foreign reserves position is as under:-

  1. Foreign reserves held by the State Bank of Pakistan: US$ 11,975.6 million
  2. Net foreign reserves held by commercial banks : US$ 6,936.6 million
  3. Total liquid foreign reserves             : US$ 18,912.2 million

During the week ended 24-July-2020, SBP reserves decreased by US$146 million to US$ 11,975.6 million, due to government external debt repayments.

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Engro Fertilizer – a review of performance in 1H2020

The management of Engro Fertilizer Limited (EFERT) arranged an analyst briefing session today to discuss the 1HCY20 financial result and future outlook.

Highlights:

· To recall, the company posted consolidated earnings of PKR 4,456mn (EPS: PKR 3.34) in 1HCY20 against PKR 7,184mn (EPS: PKR 5.38) in 1HCY19, down by 38% YoY.

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Zong 4G launches exclusive prepaid international roaming bundle for Saudi Arabia

Continuing its streak of unbeatable international roaming (IR) offers for its valued customers in this time of Covid-19 crisis, Pakistan’s leading cellular and digital services provider, Zong 4G, has come up with yet another exciting international roaming bundle.

This time around, the IR offer covers Saudi Arabia offering multiple packages to fit most budgets and help Pakistanis stay connected with their loved ones back home while they make the unavoidable travel to the kingdom or stay there for a while during the pandemic.

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America provides an additional 100 Ventilators to Pakistan to support Covid-19 recovery

In partnership, Pakistan’s National Disaster Management Authority and the United States Government, through the U.S. Agency for International Development (USAID), are working together to fight COVID-19 by contributing a second shipment of 100 respiratory ventilators. 

The ventilators arrived in Islamabad on July 28 and will be deployed in hospitals across Pakistan. 

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