· Market dipped further by 358pts during the session courtesy of redemption at mutual funds which prompted selling in Banks, E&P, Power, Cement and O&GMCs. Investors preferred switching to Food, Chemical and Power sectors as safe haven. E&P stocks went contrary to the trend of international crude oil prices, which went up overnight.
Sixty-one per cent of global respondents to a survey amongst accountancy and finance professionals say that they work in an environment free from harassment and discrimination, ACCA (the Association of Chartered Certified Accountants) reveals in a new report Leading Inclusion.
The results for the 466 respondents in Pakistan show 52 per cent believe this to be the case, with 37 per cent saying ‘partially’ and nine per cent saying ‘no’.
K-Electric’s flagship 900 MW power plant, BQPS-III is progressing on fast track and the Gas Turbine, Generator and Heat Recovery Boiler for the first unit of 450 MW have arrived at the power utility’s Bin Qasim Power Complex. Steam Turbine and Transformers for the first unit are on the way to the site.
Agha Dialysis Centre (ADC) has provided specialized free dialysis treatment to more than 50,000 patients suffering from renal disease at its facilities in Karachi since its establishment in July 2015.The ADC is run by Agha Welfare Trust (AWT) and provides safest, most effective specialized treatment to people suffering from end-stage renal disease free of cost.
‘The Overseas Investors Chamber of Commerce and Industry (OICCI) and its member companies are the torch bearers for empowering women at the workplace. The corporate sector across Pakistan can replicate the ‘OICCI Women’ initiative to foster economic growth of the country’, Ambassador of the Kingdom of the Netherlands to Pakistan, Mr.
Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said a slight reduction in government borrowing has been noticed.
The government has borrowed Rs899 billion in the first five months of the current fiscal pushing debt to s24.11 billion while its favourite tool remained Pakistan Investment Bonds, he said.
While economic conditions tails pinned in the earlier part of 2020 amid an outbreak of the novel Coronavirus, prompt action by the government (implementing a lockdown together with the disbursement of emergency funds to counter the pandemic) quickly revived the economy.
A leading research house expects that Steel Universe (Comprising of three top steelmakers in Pakistan) would post a cumulative 2QFY21 NPAT of PKR1,873mn, up 83% YoY. Overall profitability is expected to rise due to increased sales led by a broad-based surge in demand from the construction space, 2/3 wheelers and other segments.
Emirates is launching its much-awaited global sale to inspire and encourage Pakistani travellers to reconnect with family and friends or explore new destinations in the new year. With attractive offers, Emirates customers in Pakistan can make up for lost time in 2021.
The Monetary Policy Committee of SBP will meet on Friday, January 22, 2021 at SBP Karachi to decide about Monetary Policy. Governor State Bank of Pakistan, Dr. Reza Baqir, will give a press conference on the same day after the MPC meeting.