London Court of International Arbitration finds the Djiboutian Government’s Seizure of Doraleh Terminal Illegal

An Arbitral Tribunal of the London Court of International Arbitration (“LCIA”) today confirmed the illegitimacy of the Government of Djibouti’s action of seizing control of the Doraleh Container Terminal from DP World. The LCIA Tribunal has ruled that Doraleh Container Terminal’s Concession Agreement “remains valid and binding notwithstanding Law 202 and the 2018 Decrees”. 

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Pakistan’s liquid foreign reserves position

The total liquid foreign reserves held by the country stood at US$17,079.7million on 27July 2018.The break-up of the foreign reserves position is as under:-

  1. Foreign reserves held by the State Bank of Pakistan: US$10,349.7million
  2. Net foreign reserves held by commercial banks : US$6,730.0million
  3. Total liquid foreign reserves                :US$17,079.7 million

During the week ending 27July2018,SBP’s reserves increased by US$1,339million to US$10,350million, due to official inflows.

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Jazz Introduces affordable prepaid bundle for Hajis

For the first time ever, Jazz has introduced a prepaid bundle offer for Hajis, whereby they can call their loved ones back home without having to worry about affordability. Called the Saudi Bundle, the offer includes incoming and outgoing call charges of PKR 15/min – more affordable and hassle free than the visitor SIMs available in Saudi Arab.

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MCB Bank announces financial results for 1HFY 2018

The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on August 01, 2018 to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2018.

During the six months’ period ended June 30, 2018, MCB Bank Limited reported Profit Before Tax (PBT) of Rs.

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FLAVA sponsors Gilgit-Baltistan Girls Football League 2018

Pakistan’s most nutritious and delicious flavored milk brand Flava sponsored Gilgit-Baltistan Girls Football League 2018.  Gilgit-Baltistan Girls Football League is an initiative founded by two young and energetic sisters Karishma Inayat and Sumaira Inayat in the year 2016 to establish a football league solely for young girls from Gilgit-Baltistan.

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A tribute to Muhammad Rafi

Houseful musical session “Rafi Ki Yadein” observed on the evening of 31st July at Arts Council of Pakistan Karachi where hundreds gathered to pay tribute to the late legendary singer Muhammad Rafi on his 38th death anniversary.

Saleem Shehzad, legendary play back singer and the focal attraction of the evening, said that today’s era is a period of chaos and it is a great deal to conduct such a marvelous session to honor the late classical singers during such horrific times.

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Jazz, KPITB and World Bank to further digitalization in KPK

Jazz has embarked on a journey to further digitalize Khyber Pakhtunkhwa (KP) in partnership with Khyber Pakhtunkhwa Information Technology Board (KPITB) and the World Bank. This will see the mobile operator invest resources in the province’s ‘Durshal’ program and empowerment of youth through employable digital skills under the KPITB ‘Youth Employment Program’.

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ICAP announces CFAP, MSA and Final Examination results

The Institute of Chartered Accountant of Pakistan has announced the results of Certified Finance and Accounting Professional (CFAP), Multi Subject Assessment (MSA) and Final Examination held in June 2018. As many as 318 candidates qualified CFAP/Final Examination whereas 2265 candidates have obtained permanent credit.

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