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

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The market stayed under pressure throughout the day due to concerns over mounting

·        The market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy. The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking. Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.… Continue

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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

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Areej Khan takes charge as CHRO at Telenor Pakistan

Telenor Pakistan announced that Areej Khan had been appointed the chief human resource officer. Areej has been associated with Telenor Pakistan since the pre-launch phase over 18 years ago.

Areej was heading the Digital Division as Vice President in her most recent role.… Continue

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Careem launches carpooling service

Given the massive hike in global fuel prices, the everyday office-goer is the most affected by the current economic conditions. Careem, the Super App of the greater Middle East and Pakistan, has added a carpooling feature in its corporate portfolio ‘Careem for Business (C4B)’, dedicatedly catering to its corporate clientele.… Continue

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HUBC target price revised due to the tax exemption for IPPs

· AKD Research revises its target price to PkR116/sh, implying an upside of 73% from last close and a D/Y of 13%. In the budget FY23, the Govt. has announced that the tax exemption for IPPs is going to have a maximum limit of 25 years, which has been duly incorporated in our model.… Continue

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ECC approves the second installment of PKR 96bn for IPPs

As per media sources, ECC has approved the 2nd installment of PKR 96bn to the IPPs of the 2022 power policy, as per the agreement (60% of the outstanding amount). To recall, earlier in the year (Jan’22), the Govt. disbursed the first installment of PKR 64bn.… Continue

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Rider takes off with a $3.1M seed round to courier Pakistan’s businesses into the 21st century

Rider, Pakistan’s first-ever logistics start-up to be backed by YC, is building modern logistics for online sellers across the country. In doing so, the start-up has attracted the attention of investors and as of today, it is announcing a $3.1M funding in collaboration with YCombinator and new investors including i2i Ventures, Flexport, Soma Capital, and Rebel Fund.… Continue

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Technology’s negative impact on employment

By KASHIF ALI

It is no surprise that the debate over how technology affects unemployment has continued well into the 21st century. The current growth rate of technology is high, and there is growing unemployment, so connecting the two is not a far reach.… Continue

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Careem’s new ‘Go Mini Saver’ ride to the rescue!

Careem has provided a lifeline to the people of Karachi and Lahore by launching a new ‘Go Mini Saver’ ride option. After multiple fuel price hikes over the last few weeks, there was a desperate need to bridge the gap for affordable services in the ride-hailing industry for countless daily users.… Continue

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Bullish momentum was witnessed at PSX today

Bullish momentum was witnessed at PSX today due to expectation of Pakistan’s exclusion from the grey list of FATF.  KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, cements and E&P sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed hefty volumes. … Continue

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SBP hosts meetings of Islamic Financial Services Board

The State Bank of Pakistan (SBP) hosted the 40th Council Meeting and 20th General Assembly of the Islamic Financial Services Board (IFSB), on June 9, 2022. Governor SBP is currently the chairman of the IFSB Council and the General Assembly for the year 2022.… Continue

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Infinix NOTE 12 becomes the first choice of all youngsters!

In a thriving and digitally advanced world, every other day offers a brisk change in trends and Gen Z is here for it all. With fast-paced transformations in fashion, culture, and style, Gen Z is smart enough to make the right choices in their fast-paced life.… Continue

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Business Council to promote Pakistan and Canada trade

Canada-Pakistan Business Council President Sameer Dossal has said that he wants to promote trade between the two countries. There are ample opportunities to increase trade in Pakistan which I consider it my responsibility to identify. One of the steps taken to remove barriers of investment from Canada was the aid of Abdul Sattar Edhi, with 185 Edhi ambulances running in the country.… Continue

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Catch-22 situation has created disastrous situation for everyone – KCCI

Commerce & Industry (KCCI) Muhammad Idrees, while referring to upsurge in petroleum prices by Rs60 within a week along with exorbitant hike of Rs7.91 in electricity base tariff and 44 percent increase in SSGC’s gas tariff by OGRA, stated that a catch-22 situation has been created not only for the industries but also for all segments of society particularly the poor masses and small traders/ shopkeepers who simply cannot bear the burnt and were extremely worried over across-the-board inflation triggered by the rising petroleum prices, gas and electricity tariffs.… Continue

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17 Pakistani female University students selected for energy scholars program

U.S. Mission Pakistan is excited to announce the start of the U.S.-Pakistan Women’s Council’s (USPWC) inaugural four-week Future of Women in Energy Scholars Program.  Starting June 5, 17 bright Pakistani women university students will participate in this certificate program to learn about working in the energy sector. … Continue

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realme Opens its First-ever Global Flagship Store

realme has built a very strong relationship with its fans since its inception in 2018. The tech democratizer’s infectious Dare to Leap attitude has earned it a large Gen-Z following as the youth of today greatly relates to everything realme stands for including activism, fresh perspectives, and trendy technology.… Continue

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CM Sindh highlights investment opportunities in tourism and other sectors in the province

Syed Murad Ali Shah Chief Minister Sindh urged the investors to explore Sindh’s historic and compelling beauty by investing in the tourism sites across the province. CM presented the investment profile of the province at the “Investment in Sindh” session, held on the sidelines of World Economic Forum last week at Davos.  … Continue

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Telenor Pakistan’s launches Super Intern Programme

Telenor Pakistan has announced the launch of its Super Intern Programme 2022 for students and graduates to get hands-on experience as they take the initial steps in their professional journey. The six-week internship programme will prepare the interns for the corporate sector and other professional endeavours through an enriched experience of working at Telenor Pakistan.… Continue

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A Graduation Ceremony at Durshal Peshawar

Code for Pakistan, KP IT Board, World Bank, and Helvetas hosted a Graduation Ceremony at Durshal Peshawar for the 7th cycle of the KP Government Innovation Fellowship Program (7th cycle) and the 1st ever KP Women Civic Internship Program.

This year, 19 Fellows from across KP and 9 women interns from underserved districts of KP worked on several innovative digital solutions for 7 government partners across KP that simplify citizen access to government services and enable government departments to move toward digital transformation.… Continue

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Destination concept of fuel retailing at DHA Karachi

Shell Pakistan Limited (SPL) inaugurated its newly revamped integrated retail outlet, SPL Defence Service Station, located at Khayaban-e-Bahria in DHA Phase 5 Karachi. The new retail outlet has been reconstructed and equipped with Shell Recharge, an expanded Shell Select outlet and a bigger Shell Car Wash facility.… Continue

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16th International 3P Plas Print Pack Pakistan Exhibition begins in Lahore

16th International 3P Plas Print Pack Pakistan – Country’s Pioneer and Biggest Exhibition for Plastic, Printing and Packaging industry organized by FAKT Exhibitions (Pvt.) Ltd. opened its doors on 29th May 2022 at Expo Centre, Lahore.

The exhibition was inaugurated by Chief Guest – Mr Irfan Iqbal Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Mr Saleem Khan Tanoli – CEO FAKT Exhibitions (Pvt.)… Continue

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Infinix NOTE 12 with MediaTek Helio G96 – now available to order on Xpark and Daraz!

Pakistan’s highest selling smartphone brand; is now taking orders for the most powerful NOTE 12 with MediaTek Helio G96 available on Xpark and Daraz. Delivering lightning fast performance on a massive 6.67″ true AMOLED display, the device is all set to take the stage by storm with its excellent user experience.… Continue

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Mobilink Microfinance Bank continues to be the only microfinance bank to secure a ‘Positive Outlook’ by PACRA

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has added yet another feather to its cap by becoming the only microfinance institution in Pakistan to secure a ‘Positive Outlook’ credit rating from Pakistan Credit Rating Agency (PACRA) as per its latest Credit Rating Assessments issued on April 30, 2022.… Continue

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SBP increases policy rate by 150 basis points to 13.75 percent

  1. At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent. This action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability.
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