The urea demands for 1HCY22 now stands at 3.2mn tons
Urea offtake jumped 47% MoM in Jun’22 to 736k tons as preemptive demand growth surfaced in anticipation of urea price hike. Earlier in Jun’22, government reduced urea prices whilst ensuring resolution of liquidity issues, especially the PKR80bn receivables pertaining to sales tax and subsidies.… Continue
ICI Pakistan likely to becomes sole PTA producer
ICI Pakistan Limited (ICI) has announced intention to acquire approximately 75.01% shareholding or (1,135.86mn shares) of Lotte Chemicals Pakistan Limited. A few weeks ago, ICI received a conditional bid from Morinaga Milk, Japan to acquire approximately 33.3% of NutriCo Morinaga Limited for US$56.6mn.… Continue
Honda Atlas Cars has reported a NPAT of PKR658mn for 1QMY23
HCAR has reported a NPAT of PKR658mn (EPS: PKR4.61) for 1QMY23, up c.3x QoQ. This is strong result from HCAR, where the deviation from our projected EPS of PKR0.20 is primarily due to higher-than-expected gross margin and lower taxation.
1QMY23 key highlights:
Net revenue reached PKR30bn (in line with estimates), up c.40% YoY owing to c.25% higher volumes to c.9,400 and multiple price hikes from Nov’21. … Continue
Savyour partners with leading home appliances brand PEL
Savyour, Pakistan’s leading shopping rewards and cashback platform, has entered into a strategic partnership with Pak Elektron Limited (PEL), the country’s pioneer manufacturer of electronic appliances. The brands have collaborated to offer consumers across the country a vast range of premium products with the convenience of ordering online, with additional savings on top in the form of cashback.… Continue
Fauji Fertilizer is expected to unveil its 1HCY22’s financial result on 28th Jul’22
Fauji Fertilizer Company Limited is expected to unveil its 1HCY22’s financial result on 28th Jul’22, where we expect earnings to clock-in at PKR 9,147mn (EPS: PKR 7.19), down by 3% YoY. On a quarterly basis, the bottom-line is projected to reduce by 20% YoY, settling at PKR 2,908mn (EPS: PKR 2.29) in 2QCY22 amid super tax being charged during the quarter.… Continue
The market remained sideways throughout the day due to concerns over rising political and economic unrest
· The market remained sideways throughout the day due to concerns over rising political and economic unrest. PSX opened in the negative zone as rupee continued to decline against US dollar. Volumes continued to remain dry in the main board although decent volumes were witnessed in the 3rd tier stocks.… Continue
Oracle Cloud infrastructure expands distributed cloud services
Oracle Cloud Infrastructure (OCI) is meeting customers where they are with the introduction today of a lower entry point for OCI Dedicated Regions and a preview of Compute Cloud@Customer services, bringing more than 100 OCI public cloud services into customers’ data centers.… Continue
ACCA Pakistan organizes Virtual Careers Fair, bringing hundred of jobs under one platform
Pakistan: 26th July, 2022: ACCA (The Association of Chartered Certified Accountants) organized the 3rd Edition of its Virtual Careers Fair. It has featured around 200+ top organizations, 600+ jobs along with 4 Power Packed Exclusive Sessions by Industry Experts to enhance the employability Skills of participants.… Continue
Meta, Zindagi Trust join hands to launch child safety campaign in Pakistan
Meta and Zindagi Trust are collaborating to launch a broad-based awareness and stakeholder engagement campaign to curb the spread of harmful content related to child safety in online space. Under the arrangement, a series of policy roundtables will be organised with local CSOs and policy stakeholders working in the areas of both digital safety and child rights.… Continue
The importance of having a home first aid kit
People in every household face incidents and injuries regularly, but most of them lack the awareness of having a first aid kit. Sometimes, having an organized first aid kit at your home can help prevent an injury from worsening and can often save lives.… Continue
Ufone 4G supports livelihoods of local community in Murree
Pakistani telecom company, Ufone 4G has donated pushcarts and food stalls to local community members in Murree to help them earn a decent livelihood for themselves and their families. The initiative is an extension of Ufone 4G’s Corporate Social Responsibility programme, designed to create a shared impact for society.… Continue
With unrelenting inflation, SBP should not remain a silent spectator.: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance and former Provincial Minister Mian Zahid Hussain on Monday said constant appreciation of the dollar can bankrupt Pakistan like Sri Lanka so all possible steps should be taken to contain it.… Continue
FFBL reports its earnings dent by super tax impacts in 2QCY22.
Fauji Fertilizer Bin Qasim Limited (FFBL) announced the financial result for 2QCY22 yesterday, where the company posted earnings of PKR 1,783mn (EPS: PKR 1.38) compared to PKR 2,609mn (EPS: PKR 2.03) in 2QCY21, down by 32% YoY on account of imposition of super tax during the quarter.… Continue
Infinix launches cutting-edge industry 3D Vapour Cloud Chamber Liquid Cooling Technology
Today, Infinix officially launched its revolutionary 3D Vapor Cloud Chamber (3D VCC) Liquid Cooling Technology. Using innovative design on the dimensionality of VC shape for the first time designers have achieved an increase in the chamber volume, which significantly improves heat dissipation resulting in better performance.… Continue
TCL launches latest iFFALCON S52 Android Smart TV in Pakistan
Pakistan’s No.1 LED TV Brand, TCL has launched a new brand iFFALCON, with its S52 Smart Android LED Series which will be exclusively available on Daraz with Free 
Shipping, Early Bird Discount, Easy Monthly Installments and it will come with 2 Year Brand Warranty covered by TCL Electronics Pakistan.… Continue
Prantik Group facilitates Mongla port dredging operation in Bangladesh.
The Mongla Port of Bangladesh has launched an ambitious dredging project to maintain the draft at a sustainable level. The port authority witnessed the arrival of two world’s biggest non-propelled cutter suction dredgers ( 138 m long, 28 m Breadth “Xin Hai Xu”, and “Xin Hai Teng”), owned by CCECC, China.… Continue
Bank Alfalah and ACE Money Transfer gives away Kia Sportage to SIX lucky remittance senders
Bank Alfalah, in partnership with ACE Money Transfer, is rewarding six lucky overseas Pakistanis for using legal remittance channels with a Kia Sportage Alpha SUVs each in a ceremony being held today.
A promotional campaign in this regard was launched for customers sending remittances via ACE Money Transfer between April 1 and June 30, 2022 from the UK, European Union, Switzerland, Canada, and Australia to any of Bank Alfalah account or for cash pickup at any of its over 790 branches in the country.… Continue
Free Fire ushers in a new era with its brand refresh this July
Following the last debut of its new logo, Free Fire revealed a full suite of its new look and feel, a new co-creation program, and the return of its Battle In Style campaign.
Free Fire’s new look
Free Fire will offer players a brand new experience this July.… Continue
Pakistan weekly update, index breached 40,000 points
Political uncertainty took a toll on the market this week. The Pak Rupee continued to depreciate during the week, reaching an all-time low of PKR 228.37 amid depletion of foreign reserves and uncertainty over funding from friendly countries. Moreover, IMF is assessing which friendly countries are willing to provide financial aid to Pakistan before disbursing the loan of USD 1.2bn.… Continue
Hemani Fragrances introduces sports body spray
Hemani Fragrances’ Squad Collection now includes ten new deodorants, a collection of sports body sprays that are proudly and expertly made in Pakistan. Squad performance body sprays are the ideal deodorant choice for athletes or individuals who engage in any sport or physical activity.… Continue
FFBL is scheduled to announce its financial result for 1HCY22 on 25th Jul’22
Fauji Fertilizer Bin Qasim Limited (FFBL) is scheduled to announce its financial result for 1HCY22 on 25th Jul’22, where we expect the company to post a profit after tax of PKR 3,049mn (EPS: PKR 2.36), down by 21% YoY. The drop in earnings comes on the back of higher taxation during the 2QFY22 tagged with fall in dividend income.… Continue
KSE-100 closed in the green zone
· The market witnessed a bearish momentum during the first session due to inflationary and political concerns. However, the bulls made a comeback in the second session for value hunting across the board as the benchmark KSE-100 closed in the green zone.… Continue
Pakistan startup cup’s grand finale hosted By Tie Islamabad and the U.S. EMBASSY
The Indus Entrepreneurs (TiE) Islamabad joined forces with the United States Embassy in Islamabad to host the Grand Finale of the 2022 Pakistan Startup Cup at the Islamabad Marriott Hotel. The Pakistan Startup Cup is a local business model competition designed to increase the quality and quantity of entrepreneurs throughout the community.… Continue
Pakistan Economy – On YoY basis, LSMI showed improvement but fall on MoM basis
Latest data released by PBS suggests that Large Scale Manufacturing Industries (LSMI) output has witnessed a decrease of 1.3% MoM during May’22. On YoY basis, LSMI showed improvement, increasing 21.4% during May’22. LSMI Index stood at 130.7 during May’22 compared to 107.6 SPLY.… Continue
Green ICT and Infrastructure Solutions Launched
President of Huawei’s Carrier Business Group, and Dr. Philip Song, Huawei’s Carrier BG Chief Marketing Officer, discussed the role of sustainable ICT infrastructure in helping operators systematically build green network to simultaneously address traffic growth and support carbon emission reduction. This took place during the Green Development Solutions Launch, held on the second day of the Huawei Win-Win Innovation Week, followed by the launch of a new solution suite.… Continue