Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain said the IMF loan is the key to other loans. A telephone call by COAS to the US official positively impacted the situation; the positive statements from the IMF improved the confidence of the Pakistani market, which has helped improve the case, he said.… Continue
· The market witnessed bull run after clarity on IMF program resumption which resulted in Pak Rupee appreciation against USD. The investors rejoiced over the news as KSE-100 went up by 1,016 points during the session giving bulls an upper hand to remain active throughout the day.… Continue
Standard Chartered Bank Pakistan Limited (SCBPL) has recently pioneered special ‘Braille-Inclusive’ banking-forms, for the convenience of visually-impaired citizens. SCBPL has been deploying innovative technologies for world-class financial-services, besides enabling socio-economic growth for the impoverished and the persons-with-disabilities. Launched in collaboration with Pakistan’s Assistive Technology Startup – Boltay Huroof, this initiative will offer valuable facilities for the well-being of these ‘Special’ consumers.… Continue
Pakistan Telecommunication Company Limited, the largest telecom services provider in Pakistan launched Smart Solutions powered by Huawei. The initiative will enable enterprises with smart ICT services that are completely secure and reliable through one-window operations.
The event was attended by Mr.… Continue
Mari Petroleum Company Limited is expected to announce its FY22’s financial result on 4th Aug’22, where we expect the net profit to settle at PKR 33,441mn (EPS: PKR 250.68) against PKR 31,445mn (EPS: PKR 235.71) in FY21, up by 6% YoY.… Continue
Engro Eximp FZE, a subsidiary of Engro Corporation, announced today that it has entered into a Memorandum of Understanding (“MOU”) with Excelerate Energy, Inc. (NYSE: EE) (Excelerate), a leading provider of flexible LNG infrastructure solutions around the world, related to the development of a private sector gas marketing business in Pakistan.… Continue
Lucky Cement Limited (LUCK) is scheduled to announce its 4QFY22 financial result on Aug 5th, 2022 whereby we expect the company to post a profit after tax (PAT) of PKR 3,273mn (EPS: PKR 10.12) compared to PKR 2,383mn (EPS: PKR 7.37) during same period last year, depicting a jump of 37% YoY.… Continue
Globally, 89,201 International Baccalaureate (IB) Middle Years Programme (MYP) students received their eAssessment (e-Portfolios and on-screen examinations), and personal projects results, from the May 2022 examination session. This included 165 students from Pakistan.
The MYP is currently offered at 9 schools in Pakistan for the May 2022 examination session, over 240 IB World Schools in 59 countries participated in the optional MYP eAssessment, representing a 13.4% increase in registrations.… Continue
Keeping alive its two-decade-long tradition of nurturing young minds, English Biscuits Manufacturers – the makers of Peek Freans, in collaboration with the School of Leadership (SoL), once again sponsored the 21st Young Leaders Conference 2022.
The main theme of the Conference revolved around ‘Pehchaan’ (Identity).… Continue
Zubair Motiwala; Chairman PAJCCI speaking at Focus Group Discussion arranged by Center for Research & Security Studies in collaboration with PAJCCI said “to achieve the trade potential and produce tangible results we need to use proactive & pragmatic approach towards ongoing economic challenges especially in the context of PAK-AFG trade quantum and relationship”.… Continue
Cement dispatches declined by 47.7 percent in July 2022. Total Cement dispatches during July 2022 were 2.039 million tons against 3.899 Million Tons dispatched during the same month of last fiscal year.
According to the data released by All Pakistan Cement Manufacturers Association, local cement dispatches by the industry during the month of July 2022 were 1.88 million tons compared to 3.44 million tons in July 2021, showing a decline of 45.28 percent.… Continue
PSX observed a positive session today as Pak rupee continued to show resistance against the USD as further appreciation was witnessed. Market opened in the negative zone but investors opted for value buying during the day resulting index to close in green.… Continue
Singapore-based EZ Wage, a leading regional financial wellness platform, has signed an agreement with Bank Alfalah as its Digital Payments Partner to facilitate Earned Wage Access (EWA) in Pakistan with secure payment transfers. Under the agreement, EZ Wage will route payments in real-time to its users through Bank Alfalah’s platform.… Continue
The Overseas Investors Chamber of Commerce and Industry (OICCI) members met with Dr. Murtaza Syed, Acting Governor, State Bank of Pakistan (SBP), Dr. Inayat Hussain, Deputy Governor, SBP and Sima Kamil, Deputy Governor, SBP for a discussion on urgent fiscal and monetary policy measures that need to be taken to help stabilize Pakistan’s economy.… Continue
To recall, Honda Atlas Car (HCAR) announced its 1QMY23 profit of Rs658mn (EPS: Rs4.6) against profit of Rs928mn (EPS: Rs6.5) in SPLY. The decrease in earnings was attributable to PKR devaluation, higher material prices, and higher freight cost.
Company has recently increased the prices by 22%-24% due to steep devaluation inline with other industrial players.… Continue
· National CPI was recorded at 24.9% in Jul’22, driven by higher international oil prices and weakness in the currency. To recall, CPI rose by 21.3%YoY in Jun’22, taking FY22 average inflation to 12.15%, well above SBP’s forecast of 9% – 11%.… Continue
The Karachi Port Trust handled 163,265 tons of cargo comprising 136,669 Tones of import cargo and 26,596 Tons of export cargo during last 24 Hrs ending at 0700 Hours.
TOTAL IMPORT CARGO:
The total import cargo of 136,669 comprised of 53,067 Tons of Containerized Cargo, 2,148 Tons of Bulk Cargo, 8,250 Tons of Wheat, 3,003 Tons of Yellow Soya Bean Seeds & 70,201 Tons of Oil & Liquid Cargo.… Continue
Due to the recently uncertainty and the public health control situation in Shanghai, Anhui and other provinces is once again severe and complicated in China. The organisers of the All China Leather Exhibition (ACLE) have announced that ACLE 2022, originally scheduled to be held at the Shanghai New International Expo Centre from 31 August to 2 September, will be rescheduled to 20 – 22 December 2022 at the same venue.… Continue
· ICI Pakistan Limited (ICI) announced its 4QFY22 financial result today where the company posted a profit after tax (PAT) of PKR 663mn (EPS: PKR 7.18), down by 30% YoY compared to PKR 947mn (EPS: PKR 10.25) during SPLY. On a QoQ basis, earnings went down by 67%.… Continue
Pakistan oil sales commenced FY23 with a decline of 26% MoM to clock in at 1.44mn tons in July 2022 (lowest since Feb-21). This was mainly due to significant decline in all 3 petroleum products: High Speed Diesel (HSD) sales reduced by 38% MoM to 444k tons, Motor Gasoline (MOGAS) sales declined by 15% MoM to 594k tons and Furnace Oil (FO) sales dipped by 23% MoM to 350k tons.… Continue
The Young Leadership Conference’ 2022 on the theme “Pehchaan” started bright and finished on a brighter promising future. The immense 6-day conference loaded with knowledge, information and new experiences come to an end.
In this year’s theme, “Pehchaan” participants learned and experienced various topics and aspects.… Continue
Acting Country Public Affairs Officer of the U.S. Embassy in Islamabad Aaron Tarver concluded the 3-day OPEN Alumni Conference 2022 with more than 500 English language professionals from across Pakistan. The conference theme, “Fostering Intercultural Competence (ICC) in the EFL Classroom,” promoted ICC as an essential aspect of English language teaching and learning.… Continue
President of Korangi Association of Trade and Industry (KATI) Salman Aslam met Special Assistant to Chief Minister Sindh and General Secretary of Pakistan People’s Party Sindh Waqar Mehdi. The two leaders discussed the emergency in the Korangi industrial area following the recent torrential rains.… Continue
Supernet Limited (“Supernet”) announced today in conjunction with their Japanese technology partner Trend Micro Incorporated (“Trend Micro”) that they have been awarded a new multi-year project for the acclaimed “Tipping Point” Threat Protection System (TPS) by a major Pakistani customer valued at over PKR 450 million.… Continue
The elected representatives of APCA Matric Board Karachi, Salman Ahmed Khan, Senior Vice President, Irshad Ali Jamali, Junior Vice President, Shakeel Luqman, General Secretary, Bilal Hussain, Deputy General Secretary, Muhammad Shafiq, Finance Secretary, Shoaib Saleem Champion Press Secretary and Muhammad Wakil Office Secretary under the leadership of EPCA President Abdul Wahab Lakho met with Chairman Board Syed Sharaf Ali Shah, Controller of Examinations and congratulated them on the early release of general matriculation group regular and private examination results for the year 2022 and special children.… Continue