Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer, President Faraz-ur-Rehman, KITE Limited CEO Zubair Chhaya, Vice President Muslim Mohammadi, UBG Leader Khalid Tawab, Ahmed Chinoy. Among others met the newly elected Chief Executive of TDAP Zubair Motiwala and congratulated him on taking charge.… Continue
Governor Sindh inaugurated third table tennis championship league in Karachi
The third table tennis championship league was held in Karachi Gym Khana in which Governor Sindh Kamran Tessori was the chief guest whose guests. Governor Sindh reveal the Trophy and started 5-day competitions. The third table tennis champion league will continue for five days.… Continue
Surprise hike as inflation concerns appear elevated
In the monetary policy meeting held today (25th Nov’22), the State Bank of Pakistan (SBP) has hiked the benchmark policy rate by 100bps to 16%. To recall, the last hike of 125bps was done in Jul’22. The current stance aims to contain the impact of elevated domestic inflationary pressure, so as to embark on a path of sustainable recovery.… Continue
Jazz and Sprite collaborate for a new exciting offer “Thand Rakh Aur Bann Super”
Jazz, Pakistan’s leading digital operator – and a part of VEON Group, has partnered with Sprite, the world’s leading refreshing soft drink, a brand of The Coca-Cola Company, to launch their latest joint campaign called, “Thand Rakh Aur Bann Super” nationwide.… Continue
Matrix Pharma leads initiatives to raise awareness of Iron Deficiency
Iron Deficiency Day unites a strong international coalition dedicated to raising international awareness on the serious health impact of iron deficiency and iron deficiency anemia
- Patient access to diagnosis and treatment of iron deficiency directly affected by COVID-19 pandemic
- This year, spotlight is on raising awareness on symptoms and importance of early diagnosis
Matrix Pharma took a lead today, in view of ‘World Iron Deficiency Day’, for the advocacy and awareness on ‘Iron Deficiency in Pakistan’ with the aim to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed.… Continue
The week concluded with another range-bound trading session at the PSX today
· The week concluded with another range-bound trading session at the PSX today. The session began in the positive zone after the name of the new COAS was announced, providing much-needed clarity on the political ground. However, after the second session resumed, the index traded in a narrow range, drying up volumes as investors chose to remain on the sidelines in anticipation of today’s Monetary Policy announcement.… Continue
OGDCL launches education program for out-of-school children in Attock
As a responsible corporate, the Oil and Gas Development Company Limited (OGDCL) under its CSR Program yesterday launched ‘MASHAL-E-ELM Program’ for out-of-school children of village Chappri in district Attock.
In this regard, an MoU was signed between Vision-21 Global and OGDCL to launch the education program at the cost of PKR 29.816 million.… Continue
State Bank increases interest rate to 16% from 15% today.
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 100 basis points to 16 percent. This decision reflects the MPC’s view that inflationary pressures have proven to be stronger and more persistent than expected. It is aimed at ensuring that elevated inflation does not become entrenched and that risks to financial stability are contained, thus paving the way for higher growth on a more sustainable basis.… Continue
Appointment of COAS, JCSCC on seniority basis welcomed
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the appointment process of the eleventh Army Chief and Joint Chiefs of Staff Committee Chairman was completed on merit and without any major political controversy which is good for the country.… Continue
Google Tech Valley to provide technological tools of learning to Pakistani schools
To bring innovation in the education sector Google has tied up with a private school with a nationwide presence.
Under the agreement, Google Tech Valley signed a memorandum of understanding with the private school to upskill teachers and give exposure to students to universal tools of learning.… Continue
Meezan Bank wins employer of the Year Award 2021
Meezan Bank, Pakistan’s leading Islamic bank has been recognised among the top two winners as ‘Employer of the Year’ by Employers Federation of Pakistan (EFP) – Pakistan’s largest forum for employers. The Bank has received 2nd position as ‘Employer of the Year Award 2021’ in the category of ‘Large National Companies.’… Continue
Millat Tractors plans to increase exports in view the decline in domestic demand of tractors.
The management of Millat Tractors Limited (MTL) held a corporate briefing session today to discuss the FY22 financial result and future outlook.
Brief Takeaways
· To recall, Millat Tractors Limited (MTL) announced its financial result for FY22 on 23rd Sep’22, whereby the company posted a Profit After Tax (PAT) of PKR 5.4bn (EPS: PKR 56.02), down by 6% YoY.… Continue
One week training course on “Cotton Ginnin” – KCA
The Karachi Cotton Association (KCA) has organized One Week Training Course on “Cotton Ginning” with the collaboration of the Pakistan Cotton Standards Institute (PCSI) from November 21-25, 2022, at the premises of the KCA to impart basic knowledge regarding the process of cotton ginning.… Continue
Treet to produce Batteries, Soaps, and Corrugated Boxes
Treet Corporation Limited (TREET) held its Corporate Briefing Session yesterday, wherein the management discussed the company’s financial performance during FY22 and the outlook of the company.
To recall, the company posted earnings of PkR861.8mn (EPS: PkR4.82) for FY22 from its core operations, lower by 44%YoY.… Continue
Pakistanis say YouTube is the no.1 online video and music platform
YouTube hosted its first-ever YouTube Brandcast in Pakistan to celebrate YouTube’s creator community, and to share the latest insights, updates, and inspiration from brands succeeding on the platform. At Brandcast, YouTube also spotlighted how the platform is supporting the Pakistani creator ecosystem by building a reliable, multi-format platform that enables creators to build local and global communities that meet the evolving needs of their audiences
According to Google and Kantar’s Unlocking Digital in Rural Pakistan research, YouTube is the most popular online video platform in Pakistan with 62% of online Pakistanis ages 18-24 reported watching YouTube once a month or more. … Continue
OGDC believes Reko Diq Project will support the company’s diversification strategy.
The management of Oil & Gas Development Company Limited (OGDC) held a corporate briefing session on 24th Nov’22 to discuss the company’s financial performance and future outlook.
Brief Takeaways
· To recall, the company posted a profit after tax of PKR 133,784mn (EPS: PKR 31.11), witnessing a surge of 46% YoY owed to higher oil prices and Pak Rupee depreciation against the greenback.… Continue
SHPL appoints Azam Jamil as Country Head for Pakistan
As a part of its mission to develop Pakistani tourism and national identity, Siddiqi Hospitality (Pvt.) Limited welcomes Azam Jamil to the company as Country Head.
“A nation’s growth and well-being of its citizens depends on its global reputation,” said Azam.… Continue
Shell Pakistan signs ABHI as first customer for voluntary carbon compensation offer
Shell Pakistan Limited signed ABHI, Pakistan’s first financial wellness platform, as its first official customer for the launch of its new voluntary carbon compensation program. This program provides an avenue for all ABHI employees who are using Shell Fuel Cards to offset hard-to-abate carbon emissions from their fuel consumption by using Shell’s global portfolio of carbon credits.… Continue
Emirates and flydubai celebrate five years of partnership
This month marks five years since Emirates and flydubai activated their extensive partnership and joined forces to offer customers unrivalled travel options to every corner of the globe. They’ve certainly delivered on their promise. The carriers’ joint route network has significantly expanded, enabling more than 11 million customers to connect on over 250,000 flights and benefit from seamless travel since the partnership launched in 2017.… Continue
Gluco Kahani’s memorable Children’s Day rhyme teaches the spirit of helping others
This International Children’s Day, Peek Freans Gluco has launched a new rhyme, ‘Qadam Barhaein Hum’ in their popular series in the children’s edutainment category, called Gluco Kahani. This rhyme comes as a gift to Gluco Kahani’s young fans through which they can learn social, moral, and ethical values in their national language Urdu.… Continue
SBP’s reserves decreased by US$ 134 million
The total liquid foreign reserves held by the country stood at US$ 13,645.0 million as of 18-Nov-2022. The break-up of the foreign reserves position is as under:-
- Foreign reserves held by the State Bank of Pakistan: US$ 7,825.7 million
- Net foreign reserves held by commercial banks : US$ 5,819.3 million
- Total liquid foreign reserves : US$ 13,645.0 million
During the week ended on 18-Nov-2022, SBP’s reserves decreased by US$ 134 million to US$ 7,825.7 million due to external debt repayment.… Continue
KATI felicitates the appointment of General Syed Asim Munir as Army Chief of Pakistan
Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer, President Faraz-ur-Rehman, CEO of KITE Limited Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim Mohammadi along with the Executive Committee members welcomed the appointment of General Syed Asim Muneer as Chief of Army Staff and Lt General Sahir Shamshad Mirza as Chairman of Joint Chiefs of Staff Committee by the Prime Minister Shehbaz Sharif.… Continue
OGDCL selects 64 employees for Hajj and Umrah through balloting
The Oil and Gas Development Company Limited (OGDCL) held balloting to select employees for Hajj and Umrah for the year 2022-23. Managing Director/CEO OGDCL, Mr Khalid Siraj Subhani announced names of the lucky employees who will perform their religious obligations under the company-sponsored Hajj and Umrah Scheme.… Continue
Visit of the Prime Minister to Türkiye (25-26 November 2022)
On the invitation of His Excellency President Recep Tayyip Erdogan, Prime Minister Muhammad Shehbaz Sharif will pay a two-day official visit to Türkiye, from 25-26 November 2022. Alongside President Erdogan, the Prime Minister will jointly inaugurate the third of the four MILGEM Corvette Ships for the Pakistan Navy, PNS Khyber at the Istanbul Shipyard.… Continue
Another range-bound session was witnessed at the PSX today
· Another range-bound session was witnessed at the PSX today. The market opened in the green zone but due to the ongoing political uncertainty, investors chose to book profits at higher levels. Given President’s final approval for the COAS appointment remained pending, investor confidence remained lackluster.… Continue