MEBL announced an EPS of PKR 4.53/sh in 3QCY20 (↑4/63% QoQ/YoY), that takes 9MCY20 earnings to PKR 12.8/sh, ↑77% YoY. The result was accompanied by a surprise cash dividend of PKR 4.0/sh in 3QCY20.

Main deviation originated from higher than expected Net Interest Income (NII) that remained sequentially flat to PKR 7.4bn (↓1/↑40 QoQ/YoY) in 3QCY20.

Chinese telecommunications giant Huawei is setting up a research and development centre in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó has confirmed. The investment, which will create jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, Szijjártó said.

The Government of Sindh would include voices of women from peri-urban, rural and remote areas to enhance accountability of service delivery on family planning and reproductive health and its democratic control. This was stated by Dr. Talib Lashari TechincalAdvisior, Population Welfare Department Sindh while speaking at policy dialogue on “women voices four better choices” in Family Planning programs in Sindh organized by Costed Implementation Plan (CIP) Population Welfare Department and Forum for Safe Motherhood /White Ribbon Alliance Pakistan.

Attock Petroleum Limited (APL) announced the financial result for 1QFY21, whereby the company has posted a profit after tax (PAT) of PKR 1.49bn (EPS: PKR 14.92), up by 21% YoY and 11x QoQ compared to PKR 1.22bn (EPS: PKR 12.31) in 1QFY20 and PKR 138mn (EPS: PKR 1.38) in 4QFY20.

HBL held its conference call today whereby they discussed the banks’ financials and its future outlook. The call was led by the President Mr. Muhammad Aurangzeb alongside the CFO Mr. Rayomond Kotwal.

Highlights:

· HBL announced earnings for 9MCY20 above expectations at PKR 25.2bn (EPS: PKR 17.17/share), depicting a staggering YoY surge of 192% and QoQ decline of 9% (3QCY20 EPS: PKR 6.85).

ACCA (the Association of Chartered Certified Accountants) announces the pass rates of its latest exam sitting for September 2020. After two sessions in which there was much disruption around the world due to the Covid-19 pandemic, ACCA was able run more than 132,000 exams across the vast majority of its global markets.

As the concerns over political uncertainty withered away, Investors fixed gaze on the upcoming FATF plenary session and the quarterly results. Positive expectations on both counts helped the Index post a gain of 717pts during the session and closed at session’s high (unadjusted).

BankIslami, one of the most technologically advanced Islamic bank with 340+ branches in more than 116 cities, wins Pakistan IP Excellence Award 2020 in the category of “Best IP Management” and “Most Innovative Banking Solutions.”

The prestigious IP Excellence Award provides rewards & recognition to motivate businesses and individuals to go above and beyond within the fields of patent, trademark and copyrights.

Cargo handling activities of Karachi port during last 24 hrs ending 0700    

Ships Berthed    

04 Ship berthed at Karachi Port, their details are given below.

1. SZCZECIN TRADER            CONTAINER SHIP
   
2. STENA IMMACULATE            TANKER
   
3. BERLIN EXPRESS                CONTAINER SHIP
   
4. VASI STAR                CONTAINER SHIP
   

    

Ships Sailed

05 Ship has sailed off from Karachi Port, their details are given below.

TPL Life, a leading insurtech in Pakistan, has partnered with Mobilink Microfinance Bank Ltd. (MMBL), Pakistan’s largest digital bank to launch “Corona Tahaffuz,” an insurance product designed for MMBL’s customers and will be available through the banks’ branches across Pakistan.

Following the collaboration, MMBL customers will have access to comprehensive insurance coverage for themselves and their family, a cash benefit of Rs.

Governor SBP Dr. Reza Baqir inaugurated the Polyculture Forest at Pakistan Security Printing Corporation (PSPC) Karachi. He was briefed about the project in detail by the management. The Polyculture Forest is inspired by the incumbent government’s priority of encouraging people, communities, organizations, businesses and civil society to collectively plant trees and thus play their part in improving climatic conditions.

BASF has entered a partnership with Gas and Oil (GO) Pakistan to help vehicles improve fuel efficiency and reduce their environmental impact. A memorandum of understanding (MoU) was signed in the presence of Faisal Akhtar, Managing Director, BASF Pakistan and Zeeshan Tayyeb, Chief Operating Officer, GO Pakistan.

AS per the SRO#1037 on Monday, October 12, 2020 issued by the Ministry of Energy (Power Division), Karachi’s power tariff has been brought at par with the rest of the country and Karachi’s power consumers will now pay the same rate for electricity as consumers of other DISCOs, as per the Government of Pakistan’s (GoP) uniform tariff policy.

Deposit Protection Corporation (DPC) is pleased to announce the formal launch of its website, accessible at http://www.dpc.org.pk. Through this website DPC has embarked upon a more depositor-centric and responsive public awareness program. Launching of its own website is part of DPC’s broader communication strategy towards all its stakeholders, which focuses on making it easier for users to learn and locate valuable information about the roles and functions of DPC and its communiqués including circulars and guidelines.

Engro Fertilizer Limited (EFERT) is scheduled to announce its 3QCY20 financial result on Oct 21st, 2020. We expect the company to post a profit after tax (PAT) of PKR 3,706mn (EPS: PKR 2.78) in 3QCY20 against PKR 3,326mn (EPS: PKR 2.49) in 3QCY19, portraying a growth of 11% YoY.