An urgent meeting of the Lasbela Chamber of Commerce and Industry was held at the office of the chamber today to review the progress on the restoration of road links between Karachi and Lasbela. Addressing the meeting, Mr. Ismail Suttar, former president and Chairman of the Infra Structure Committee of LCCI stated that the industries and the people are badly suffering due to the devastation of roads and bridges in Balochistan.… Continue
Passenger car sales plummeted by 50% YoY | 13% MoM, on the back of i) need for prior permission on import of raw materials by the SBP, which led to lower inventory levels and slashed production, ii) increased auto financing rate due to interest rate hike curbing demand, iii) shrunk purchasing power due to receding incomes amid high inflation, and iv) delay in car deliveries in lieu of massive rainfalls.… Continue
Pakistan’s real estate sector has come a long way in the past few decades. From a largely unorganized and unregulated industry, it has not only increased in magnitude but has become more resilient to changing economic circumstances.
Today, real estate is one of the most significant investment avenues for the nation.… Continue
Lately, some media reports and representatives of trade organizations have claimed that banks are not opening Letters of Credit (LCs) for essential raw materials including pharmaceuticals. This is contrary to the facts. It is clarified that there is no restriction on the import of raw material for any industry including export-oriented industry.… Continue
realme has always maintained its position of being a youth-centric brand. For this reason, the smartphone brand strives to bring engaging events to the Pakistani landscape that cater to youthful interests such as music, technology, and sports. In the month of August, realme brought a unique sporting event for the youth with the realme Mega Azadi Ride and with that promised to bring more sporting events for its fans in the future.… Continue
Muhammad Azfar Ahsan, Founder & CEO of Nutshell Group, has been elected as the President of the Marketing Association of Pakistan (MAP), the apex body of marketing in the country. He previously served MAP in various capacities, including his recent role as the Vice President of MAP.… Continue
The State Bank of Pakistan (SBP) has suspended, with immediate effect, the authorization of two Exchange Companies, namely, Swiss International Exchange Company-B (Pvt.) Limited and Great Union Exchange Company-B (Pvt.) Limited for three months due to serious violations of regulatory instructions.… Continue
Careem, the pioneer of ride-hailing service in Pakistan, has recently introduced digital payment visibility for credit/debit card payments to all its Captains across Karachi, Lahore and Islamabad. This initiative will empower them to make a more conscious decision, ultimately providing a seamless experience between Careem’s customers and Captains. … Continue
The National Incubation Centre Lahore (NICL) at LUMS held its capstone event – the Investor Summit, which brought together its 9th Cohort of change-driven start-ups, pitching their ventures in Agritech, Cleantech, Edtech, Healthtech, and Fintech to seasoned investors and start-up founders in Pakistan.… Continue
President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees, while expressing deep concerns over rising lawlessness and street crimes in every single area of Karachi, strongly slammed the Law Enforcement Agencies (LEAs) who have failed miserably to control the situation and maintain peace in Karachi where citizens were fearlessly being looted and killed upon slight resistance even in broad daylight and at densely crowded places.… Continue
· Another range bound session was witnessed at the PSX today. The market opened in positive zone and continued to trade in a consolidated range as investor’s participation remained dull throughout the day due to weakening Pak rupee against US dollar.… Continue
As part of the national plan of providing maximum relief to over 33 million flood-affected people across Pakistan, چ has pledged to donate 100 tons of tea to one million families displaced by the devastating floods. The relief assistance will be provided through its partner NGOs, Indus Hospital, The Citizens Foundation Al-Khidmat Foundation, and Roshan Academy, ekaterra said in a press release issued here on Tuesday.… Continue
Despite the challenging global economic environment, Pakistan National Shipping Corporation (PNSC) Group has achieved highest to date annual net profit after tax amounting to Rs.5,650 million during the year 2021-22 as compared to Rs.2,264 million during the preceding year.
According to results announced today, the earnings per share (EPS) of the PNSC (Group) is Rs.42.75 as against Rs.17.14 in the comparable period last year.… Continue
The Karachi Port Trust handled 90,363 tons of cargo comprising 57,187 Tones of import cargo and 33,176 Tons of export cargo during last 24 Hrs ending at 0700 Hours.
TOTAL IMPORT CARGO:
The total import cargo of 57,187 comprised of 39,132 Tons of Containerized Cargo, 3,687 Tons of Bulk Cargo, 2,194 Tons of Rapessed, 4,500 Tons of Rock Phosphate, 1,838 Tons of Urea, 2,776 Tons of Wheat & 3,060 Tons of Oil & Liquid Cargo.… Continue
PTCL Group and Akhuwat Foundation collaborated to provide food assistance to flood affected families in five districts of Balochistan, including Qilla Saifullah, Loralai, Sibi, Lasbela and Lasbela (Uthal). President and Group CEO, PTCL & Ufone, Hatem Bamatraf presented a cheque to Dr.… Continue
Current corporate reporting by a majority of companies producing the highest levels of greenhouse gas emissions would not comply with proposed new requirements from the International Sustainability Standards Board (ISSB).
This is the key finding of research carried out by ACCA (the Association of Chartered Certified Accountants) and the Adam Smith Business School at Glasgow University, aiming to find out how prepared companies are for new climate-related reporting rules being developed by the International Sustainability Standards Board, formed last November.… Continue
Workers’ remittances recorded an inflow of US$2.7 billion during August 2022, says State Bank of Pakistan today.
In terms of growth, remittances increased by 7.9 percent on m/m and by 1.5 percent on y/y basis.
Remittance inflows during August were mainly sourced from Saudi Arabia ($691.8 million), United Arab Emirates ($531.4 million), United Kingdom ($369.7 million) and the United States ($294.4 million).… Continue
In the spirit of further strengthening brotherly relations between China and Pakistan, a group of 20 employees and volunteers representing the Orange Line Metro Train project stepped forward to distribute life support essentials amongst the flood victims of Jampur, which stands amongst the most devastated cities in the Rajanpur district of South Punjab during the current ongoing floods crisis.… Continue
President of Korangi Association of Trade and Industry (KATI) Salman Aslam said that the recent rains and floods have caused havoc in Sindh, Baluchistan, millions of people are on the streets, and rehabilitation of the affected people will take more than two to three years, while the agricultural lands in interior Sindh that have been devastated by floods will take a long time to become cultivated again.… Continue
Huge crowds gathered at the fourth edition of the Pakistan Property Show over the weekend at the World Trade Centre in Dubai to explore major investment opportunities in the Pakistan property market.
A record-breaking 20,000 people attended the two-day event which was organised by Zameen.com,… Continue
· A range bound session was witnessed at the PSX today due to mounting inflation, economic and political concerns. No materialization of funds from friendly nations kept sentiments in check. The benchmark KSE-100 index observed a volatile session as investors opted to remain sideways due to continuous fleet of US dollar against Pak rupee.… Continue
Sehat Kahani is proud to announce its position in the “100 to watch companies in Asia” by Forbes. Forbes released its Asia 100 To Watch 2022 list this September. This list entails small, and medium-sized companies and startups in Asia addressing real-world challenges using modern innovation.… Continue
Selecting your next laptop might seem like a daunting task as you have to consider so many things, including your needs and workload. Are you looking for a laptop with a big screen or do you prefer the smaller and lighter ones?… Continue
The Benchmark index started the last week on a negative note and continued within a thin range. During the week, the index posted a high and low of 42,388 and 41,676 respectively and closed at 41,948. Trading volumes clocked-in at 322Mn shares which are lower than the previous week.… Continue
DG Khan Cement Company Limited (DGKC) is scheduled to announce its FY22 financial result on 13th Sep’22 whereby we expect the company to post earnings of PKR 4,202mn (EPS: PKR 9.59) against PKR 3,721mn (EPS: PKR 8.49) in SPLY, depicting a jump of 13% YoY.… Continue