Dawlance – Pakistan’s no.1 home appliances brand, unveiled its first ever connected appliance,Wi-Fi enabled Air conditioner under its designer plus inverter series. In an aim to lead the market in this segment, Dawlance has incorporated the latest technology standards with innovative solutions and offerings for consumers.

The UK-funded Karandaaz will triple the impact of a leading health diagnostic service provider and set up a unique warehouse for agricultural produce in Punjab. These two investments are expected to create more than 900 new jobs in Pakistan. This was announced today at the signing of two new equity investment deals in Islamabad.

The total liquid foreign reserves held by the country stood at US$16,406.8million on 25 May2018.The break-up of the foreign reserves position is as under:-

1. Foreign reserves held by the State Bank of Pakistan: US$10,033.8million
   
2. Net foreign reserves held by commercial banks : US$6,373.0million
   
3. Total liquid foreign reserves             :US$16,406.8 million
   

During the week ending 25 May2018, SBP’s reserves decreased by US$286 million to US$10,034 million, due to external debt and other official payments.

Syed Mazhar Ali Nasir, Senior Vice President and Chairman, Budget Advisory Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the incumbent government to also include cotton yarn and tanned leather in the recently announced extended export incentive package for traditional and non-traditional items for the next three years from June 2018 to June 2021. 

An ExtraOrdinary General Meeting (EOGM) of Bank Alfalah Limited was held on 27th May 2018 at Karachi, in order to elect nine directors of the Bank for a term of three years. The EOGM was attended by the shareholders, directors and senior management of the bank.

State Bank of Pakistan, through its subsidiary SBP Banking Services Corporation (SBP BSC) has re-launched the SMS service for issuance of fresh currency notes to the general public. The fresh currency notes will be available from designated commercial bank branches called “e-branches” and the sixteen field offices of SBP BSC.

Leveraging its flagship branchless banking service Easypaisa, Telenor Microfinance Bank has introduced it’s convenient and secure, digital ‘QR Payments’ for greater enablement of its Mobile Account users. Easypaisa introduced QR Payments at Amanat Eye Hospital inIslamabad to facilitate both the patients and care givers.

Khushhali Microfinance Bank has recently been awarded ‘Green Office Certification’ by WWF-Pakistan in recognition for its concrete efforts to implement environmentally sustainable practices within the head office. Khushhali Microfinance joined this programme in October 2017 and was able to get the certification within six months.

 Uber, the global smartphone app that seamlessly connects riders to drivers, has teamed up with Kashf Foundation in a bid to educate driver partners on how to refrain from inappropriate behavior to recognize and prevent unsuitable actions. Titled ‘Dignity at Work’, this training is a part of Uber’s global initiative to help prevent harassment of any kind.

Pakistan State Oil (PSO), in continuation of its quest to improve the quality of fuels in Pakistan, has upgraded its products portfolio with the inclusion of the RON 97 high octane petrol under brand name “Altron X Hi- Octane 97”. RON 97 delivers superior performance to vehicles for a smooth and knock-free drive.

Global trade enabler DP World today announced the successful closing of the acquisition of Cosmos Agencia Marítima S.A.C. (CAM) in Peru. On 18 March, DP World and Andino Investment Holding announced an agreement for DP World to acquire 100% of the shares of CAM, a leading fully integrated logistics provider in Peru, for $315.7 million.

Mr. Ghazanfar Bilour President Federation of Pakistan Chambers of Commerce and Industry while commenting on the recently announced monetary policy said that hike in policy rate to 6.5 percent is not appropriate at this time when foreign competitors are coming to Pakistan with low interest rate in their respective countries. 

Etihad Cargo, the cargo division of Etihad Airways, the national airline of the UAE, has launched its first humanitarian freighter missions. The initiatives are part of the group’s extensive Year of Zayed programme, which will take place throughout 2018. The specially branded Year of Zayed Boeing 777 freighter aircraft departed Abu Dhabi – first to Almaty in Kazakhstan and then to Hyderabad in India – carrying special provisions to be distributed to those in need during the Holy Month of Ramadan.

The Prime Minister will inaugurate the Sharqpur -Rajana Section of Lahore-Abdul Hakeem Motorway (M-3) and Gojra-Toba Tek Singh Section of Faisalabad-Multan Motorway (M-4) on May 28, 2018.

The Sharqpur-Rajana Section of Lahore – Abdul Hakeem Motorway will reduce the traffic congestion drastically, particularly the heavy traffic on G.T.