PSX: Pre-Traumatic stress disorder!

Unlike local research house earlier expectations, the 100 Index failed to find any support in today’s session and traded sharply lower amid shrinking market participation as concerns on upcoming budgetary measures (implementation of stringent austerity measures aimed at improving fiscal management and revenue mobilization) kept the market in Risk Off mode.

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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$14,889.9 million on 31May2019.The break-up of the foreign reserves position is as under: –

Foreign reserves held by the State Bank of Pakistan: US$ 7,862.4 million

Net foreign reserves held by commercial banks : US$ 7,027.5 million

Total liquid foreign reserves             : US$ 14,889.9 million

During the week ending 31May2019, SBP’s reserves decreased by US$148 million to US$7,862.4 million, due to payments on account of external debt servicing.

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Carsten Spohr new IATA Board Chairman

The International Air Transport Association (IATA) announced that Lufthansa Group Chief Executive Officer, Carsten Spohr, has assumed his duties as Chairman of the IATA Board of Governors (BoG) for a one-year term effective from the conclusion of the 75th IATA Annual General Meeting in Seoul, Republic of Korea.

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Airlines urge governments to adhere to global slot allocation guidelines

The International Air Transport Association (IATA) 75th Annual General Meeting (AGM) unanimously approved a resolution on slot policy, to reaffirm the importance of a harmonized global airport slot system and called upon governments to urgently address capacity shortages.

More than 200 airports worldwide are Level-3 slot coordinated, meaning that they have insufficient capacity to meet current demand.

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Airlines commit to improve travel for passengers with disabilities

The International Air Transport Association (IATA) 75th Annual General Meeting (AGM) unanimously approved a resolution to improve the air travel experience for the estimated one billion people living with disabilities worldwide.

The AGM confirms the commitment of airlines to ensuring that passengers with disabilities have access to safe, reliable and dignified travel, and calls upon governments to use IATA’s core principles for accommodating passengers with disabilities.

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SINA Welfare Trust Conducts Heat wave activities in Karachi

The Pakistan Met department issued a heat wave warning last week, predicting that temperatures in the city may soar to as high as 42 degrees in the coming days, and advised all stakeholders to take preventive measures. During the day when the temperatures are at its peak, use of wet towels will ensure that body temperature do not rise, and are able to bear their fast easily.

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KE announces no load-shed during Eid holidays

In line with its commitment to provide maximum relief to its customers, all residential power consumers will remain exempt from load-shed during the Eid holidays. According to a KE spokesperson, “As part of summer preparedness, we have strengthened our network and system and have beefed up the on-ground work force through capacity building and technological advancement.

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BankIslami visits Edhi Children Home for its ‘Share to Care’ CSR movement

As part of its Corporate Social Responsibility (CSR) movement “Share to Care”, BankIslami, one of Pakistan’s leading Islamic banks recently visited Edhi Children Home in Korangi, Karachi. The Bank’s staff visited the Edhi Welfare Centre to spread the spirit of benevolence in this holy month of Ramzan where they spent time with children, had Iftar with them and distributed Eidi and new clothes for Eid.

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6th Pakistan Mega Leather Show