PSX markets outlook

Despite a 100bps reduction in the policy rate last Friday, the outgoing week started in the red zone to lose 203ppts. Market remained volatile during the mix bag news to close the week almost flat with benchmark index at 33,837ppts. The benchmark index remained range-bound due to lack of major triggers.

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“Education Sector – innovation in the delivery model is a must”: Experts

“We need to forget about the way education was delivered in the pre-COVID19 era, we can’t and must not go back to the old state” said Sajjeed Aslam, head of ACCA Pakistan. ACCA (the Association of Chartered Certified Accountants) hosted a series of conversations with representatives from higher education, school system, corporate sector and education technology providers from Pakistan, the Middle East, Europe and the U.S.

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PIA plane crashed at residential area in Karachi today

A Pakistan International Airlines (PIA) aircraft has crashed in a residential area near the Karachi Airport in Sindh province of Pakistan today’s afternoon. PIA spokesperson Abdul Sattar confirmed the media that crash and added that the flight, A-320, was carrying 90 passengers and was flying from Lahore to Karachi.

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New date for International Shoes & Leather Exhibition- Vietnam

Top Repute, the organizer of 22nd International Shoes & Leather Exhibition- Vietnam has announced that the fair is being postponed from 15-17 July 2020 to 14-16 July 2021 at Saigon Conventional and Exhibition Center (SECC), Ho Chi Minh City, Vietnam.

This is certainly a difficult decision, but has to be taken in light of the recent COVID-19 pandemic, which still threatened the safety of human life, individual governments have proclaimed travel restriction, self-isolation and limitation on social gathering as precautionary measures.

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Liquid foreign reserves declined in Pakistan

The total liquid foreign reserves held by the country stood at US$ 18,618.3 million on 15-May-2020. The break-up of the foreign reserves position is as under:-

  1. Foreign reserves held by the State Bank of Pakistan: US$ 12,129.3 million
  2. Net foreign reserves held by commercial banks : US$ 6,489.0
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Hareem Farooq upcoming two new films

Hareem Farooq has clearly been staying productive during quarantine, as the star recently revealed some exciting news about two new film projects underway from her end. The gorgeous award-winning actress and Pakistan’s youngest female producer revealed this news in a casual chit chat session on an Instagram live.

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Standard Chartered Pakistan contributes USD1 million for COVID-19 emergency relief

Standard Chartered Pakistan has contributed USD1 million to Red Cross and UNICEF programmes that are providing emergency relief to communities impacted by the COVID-19 pandemic. In total, USD300,000 will be contributed to the Red Cross for the provision of urgent medical support and USD700,000 to UNICEF for the immediate protection and education of vulnerable children.

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PTCL supports underserved communities during COVID-19across Pakistan”

Pakistan Telecommunication Company Limited (PTCL), concluded a massive nationwide drive to support underserved communities affected by the COVID-19 pandemic during the month of Ramazan.

PTCL has taken numerous measures to provide support to the people in these trying times. A comprehensive nationwide Ramazan ration drive activity concluded, where ration packs were distributed to over 7000 families in 30 cities across Pakistan including Azad Jammu Kashmir and Gilgit-Baltistan.

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Selected branches to open on Wednesday May 27

In order to ensure the availability of limited banking services to public at large during the extended holidays on the occasion of Eid-ul-Fitr, it has been decided that banks / MFBs may open their selected branches on Wednesday, May 27, 2020 at their own discretion in various business centers / commercial hubs etc.

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