Meezan Bank, the Best Bank in Pakistan has announced the provision of corporate & transaction banking services to Tufail Group– one of the largest manufacturers of industrial chemicals in Pakistan. As per the memorandum of understanding (MoU) signed between the two parties, Meezan Bank will, provide a core suite of payment & collection services to Tufail Group, through eBiz+, its state-of-the-art portal designed to automate complex payment workflows.… Continue

The Karachi Port Trust handled 126,488 tons of cargo comprising 80,186 Tones of import cargo and 46,302 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 80,186 comprised of 25,928 Tons of Containerized Cargo, 4,414 Tons of Bulk Cargo, 4,587 Rock Phosphate and 45,257 Tons of Oil/Liquid Cargo.… Continue

1)    APTMA is the premier trade organization of Textile Sector, with members responsible for 60% by value of all direct exports. APTMA membership includes representation from all segments of textile value chain: spinning, weaving, knitwear, garments, home textile etc., as well as vertically integrated concerns.… Continue

Truck It In announces MENAP’s largest Pre-Seed funding round of $1.5 million to transform Pakistan’s road freight industry. The round was led by Global Founders Capital, a global seed and growth investor, along with Fatima Gobi Ventures, one of the most active multi-national venture capital firms in Asia.… Continue

Executive Vice President PTCL (South) Zaheer Achakzai has said that PTCL has remained focused on improving its quality of service by upgrading the infrastructure that led to improving the profitability by 34 percent and the service provider’s infrastructure was all set for 5G which has already been successfully tested.… Continue

UPaisa and Abacus entered into a strategic partnership for the launch of a mobile application which simplifies cashless transactions and expands access to better financial services. Through the innovative offering, UPaisa shall be able to speed up time to market, offer more options to customers, enhance growth opportunities and integrate latest technologies.… Continue

· Market traded in a narrow range between -198pts and +155pts, closing the session +104pts (unadjusted). Main board scrips have largely been in consolidation and today was no different. Banking sector stocks inched up with particular interest in UBL, especially by the end of session.… Continue

Kohat Cement Company Limited (KOHC) announced its 3QFY21 financial result today, posting a profit after tax (PAT) of PKR 1,059mn (EPS: PKR 5.27), compared to a loss of PKR 381mn (LPS: PKR 1.90) during SPLY. This took the cumulative 9MFY21 bottom-line to PKR 2,532mn (EPS: PKR 12.60), vis-à-vis loss of PKR 283mn (LPS: PKR 1.41) in SPLY.… Continue

We expect combined earnings of IMS Fertilizer cluster to surge nearly 2x yoy to PKR13.7bn in 1QCY21. This is mainly driven by (i) higher offtake of all major fertilizers (except for FFC only), (ii) elevated DAP primary margins and Urea prices, and (iii) lower finance cost due to lower borrowings and interest rates.… Continue

SINA Welfare Trust aims to facilitate and provide primary healthcare services to people keeping in mind the basic financial hurdles, economic challenges, unemployment crisis and mobility issues. The services provided at the NGO include primary healthcare, authentic and quality medication, laboratory tests at par with international standards, ultrasounds, immunization, mental health counseling, hepatitis screening, and referrals to secondary health care.… Continue

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said the sharp hike in the price of food items has made life difficult for the people.… Continue

Indus Hospital and Health Network (IHHN), a multidisciplinary state-of-the-art hospital providing free healthcare, has selected ST Infosystems Private Limited, a member of the Oracle Partner Network to help deploy Oracle Technology to run the hospital’s in-house hospital management system application to ensure uninterrupted access to patient data and enhanced care facilities.… Continue

Chief Commissioner Corporate Regional Tax Office (CRTO) Karachi Federal Board of Revenue (FBR) Dr. Aftab Imam, after listening to the viewpoint of business community, assured to analyze the issue of higher turnover tax on yarn traders as compared to the profit margin and look into the possibility of restoring it back to 0.1 percent from 1.5 percent in the next budget.… Continue

Parwaaz, HBL and Institute of Bankers Pakistan (IBP) signed a Memorandum of Collaboration (MoC) to develop a skilling program for Parwaaz’s financial services incubator. The incubator will equip current and aspiring bankers with skills to become cybersecurity specialists.

The MoC was signed by Mr.… Continue

Pakistan’s number one 4G operator and the largest internet and broadband service provider, Jazz has initiated an organization-wide COVID-19 vaccination drive, which includes its permanent and contractual employees.

Keeping in view the limited availability of vaccines in the country, Jazz will be administrating the vaccination in phases, starting first with the front-line commercial and technical employees, as well as the members of its franchise network.… Continue