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PSX market Review for the week

The outgoing week witnessed lackluster activity in the KSE-100 index primarily due to prolonged uncertainty on the resumption of IMF program, high twin deficits, runaway inflation and rising political noise. Despite tough measures being taken by the govt. in the form of reversal of energy subsidies and major taxation changes in the budget, several steps were still needed to be taken to convince the IMF and get the program back on track.… Continue

KE announces revised load shedding timings

In light of the ongoing power supply constraints, K-Electric announced a rationalized load shed schedule for its customers. The revised plan is effective July 1, 2022. This step is being taken to provide relief to customers experiencing night-time loadshed in high-loss areas.… Continue

KCCI seeks early implementation of Interest-Free Banking

Chairman Businessmen Group in the KCCI, Zubair Motiwala, and KCCI President, Muhammad Idrees have extended gratitude to Prime Minister Shahbaz Sharif for taking interest in the implementation of the Federal Shariah Court’s decision of introducing Riba Free banking in Pakistan. They have requested the government to introduce interest free banking in Pakistan according to the Islamic Principles and implement the court’s decision in true letter and spirit. … Continue

Mobilink Microfinance Bank to offer Adamjee Life Assurance products to customers across its nationwide branch network

Mobilink Microfinance Bank (MMBL), Pakistan’s Largest Digital Bank has signed a Term Life Insurance Memorandum of Understanding (MoU) with the country’s leading insurance service provider, Adamjee Life Assurance. This strategic partnership is designed to promote enhanced access to premium insurance products from Adamjee’s portfolio for customers in unserved and underserved regions through MMBL’s vast nationwide branch network.… Continue

U.S. and FC KPK officials inaugurate new training facilities, sign agreement for $10.5 million projects

United States Assistant Secretary of State for International Narcotics and Law Enforcement Affairs (INL) Todd D. Robinson and the U.S. Embassy in Pakistan INL Section Director Mark Tervakoski joined Inspector General of Frontier Corps Khyber Pakhtunkhwa South Major General Muhammad Munir Afsar, Deputy Inspector General of Frontier Corps Khyber Pakhtunkhwa North Major Brigadier Sajid Majeed, and other senior Frontier Corps leadership as they inaugurated new training structures and signed an agreement for two joint projects worth approximately $10.5 million (2.1 billion PKR) on July 1, 2022. … Continue

Walee-Nust launches Pakistan’s first center of excellence for social and digital media technologies

Walee Technologies Pvt. Ltd. (Walee), Pakistan’s leading influencer marketing technology company, and the country’s top academic institution, the NUST School of Electrical Engineering & Computer Science (SEECS) have established Pakistan’s first industry-academia Center of excellence to develop innovative social and digital AI-driven solutions and deeper intelligence to serve the USD100 billion* global creator economy.… Continue