On account of International Day for Eradication of Poverty, Pakistan Poverty Alleviation Fund (PPAF) organized asset distribution ceremony in Shangla and Lakki Marwat, Khyber Pakhtunkhwa under the second phase of Livelihood Support & Promotion of Small Community Infrastructure Program (LACIP).

The LACIP project which has been financed by the Federal Republic of Germany through KfW and implemented via Pakistan Poverty Alleviation Fund (PPAF) targeting the underprivileged population of Buner, Shangla and Lakki Marwat.

VMware, Inc., a leading innovator in enterprise software, today announced new advancements to its intrinsic security portfolio, giving Pakistan’s organizations the capabilities to better secure their business in the new digital reality – spanning the distributed workforce and across private and public clouds.

The Hub Power Company Limited through its wholly owned subsidiary, Hub Power Holdings Limited, is in the process of finalising issuance of an Islamic Shariah compliant sukuk. This represents Hubco’s keen interest in promoting and supporting the Islamic financing options and the local financial industry.

According to a statement, the TikTok app has been unblocked in Pakistan. We appreciate the PTA’s commitment to ongoing productive dialogue and recognize their care for the digital experience of Pakistani users, a representative added. At TikTok, we’re committed to enforcing our Community Guidelines and complying with local laws in all markets in which we operate, as these are pillars of our work to promote a safe and positive community online.

Market discounted the anticipated negative impact of the demonstration and gathering conducted by the combined Opposition parties against the incumbent government. Investor sentiment was already dampened at the close of session last week and it was anticipated to further deteriorate post allegations made by PML N leader on the military establishment.

Jubilee Life Insurance, Pakistan’s leading insurance provider in the private sector, is partnering with EasyInsurance.com.pk, the country’s fastest-growing insurance aggregator to offer cutting-edge insurance policies at the consumers’ fingertips through a dedicated online buying platform.

During the first phase of this platform going live, Jubilee Life will be offering instant term insurance plans for life and health, with more categories to be added to this portfolio in the coming months.

President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday asked the government to prevent looming food crisis by expediting wheat imports.

Wheat prices have been increased by five percent in the international market in the last twelve months while it jumped by 72 percent in the local market, he said.

Deputy Governor State Bank of Pakistan Sima Kamil has assured that Small & Medium Enterprises (SMEs) sector would be facilitated on priority basis. She was addressing a meeting at the Korangi Association of Trade & Industry (KATI) here on Monday. Patron-in-Chief of KATI SM Muneer, President Saleem-uz-Zaman, Chairman & CEO KITE Zubair Chhaya, Senior Vice President Zaki Sharif,Vice President Nighat Awan, Head of KATI’s standing committee on banking Tariq Malik, Former Presidents Masood Naqi, Ehtisham Uddin, Johar Qandhari and others also addressed the occasion.

Earlier this week RapidCompute, Pakistan’s largest local cloud service provider, announced the formal launch of its Cloud Services designed especially for the Banking Sector and Financial Institutions. The company has established dedicated datacenters for banking operations with the highest level of security and compliance checks, keeping in mind all legal and policy requirements by the State Bank of Pakistan and other entities in light of the recent policy.

Faysal Bank Limited (FBL) has joined hands with IGI Life at Faysal House in Karachi, as one of its Banca-Takaful partners to launch new products with Life and Health coverage segments for Faysal Bank customers.

IGI Life Window Takaful operations will be offering this wide range of unique Takaful products with added ‘vitality’ benefits through Faysal Bank Ltd.

IMS Cement Universe is expected to return to profits in 1QFY21, with combined net profits estimated at PKR2.28bn compared to losses of PKR2.26bn in the previous quarter.

This includes the highly leveraged producers which will also post profits for the first time in four quarters.

After the worst quarter (4QFY20) since the oil price collapse of 2014-16, E&Ps’ profitability is expected to improve meaningfully in 1QFY21, thanks to normalized production levels and recovery in international oil prices. However, profits will remain below last year’s level.

Lifting of lockdown in Pakistan enabled major oil fields to increase output by up to 50% qoq.

Total exports in September 2020 clocked in at US$1.9bn compared to US$1.6bn in August 2020, up 19% mom and 7% yoy. This takes total exports in 1QFY21 to US$5.5bn (flat yoy). Following the decline in exports in August due to monsoon rains, exports picked up sharply due to filling of delayed orders, in views of experts of Intermarket Securities Limited.

Former President ICCI Shahid Rasheed Butt on Sunday said opposition parties have a right to hold protests and rallies to criticise the government policies but the Army should not be accused for political mileage. Opposition should understand that people love guardians of the ideological and geographical borders and they will never tolerate dragging Army in politics, he said.

The impression that Asif Farrukhi has left on the world of poetry and society is unparalleled. He was a great novelist as well as a great critic. He was instrumental in encouraging young writers, said Arts Council President Muhammad Ahmad Shah while addressing the eighth founding day of “Bazm Isataza, Urdu Sindh” organized by Karachi Arts Council.