Systems Limited continues to dominate Pakistan’s global technology landscape in the year 2021 as it bags its consecutive Forbes Asia’s Best Under A Billion Award. The list highlights 200 Asia-Pacific public companies under $1 billion in revenue, with consistent top and bottom-line growth parameters.… Continue

As Pakistan’s short video content space grows, Likee, one of the country’s most popular creative video platforms, is leading the way by highlighting national talent that deserves our attention. Talha Talib, who brought honor to Pakistan by finishing in the top 5 at Weightlifting in the Tokyo Olympics 2021, has embraced the application and Likee is ensuring he gets the recognition he has earned.… Continue

Creditors are expected to soon restructure TeleCard’s outstanding TFC loan of Rs700 million, which would pave the way for the regulatory approvals for the planned IPO of its subsidiary, Supernet, the company sources said. The company had raised Rs2.4bn through its TeleTFC, paying back Rs1.7b to the creditors so far.… Continue

Oil & Gas Development Company Limited (OGDC) announced its financial result today, posting a Profit after Tax of PKR 25,188mn (EPS: PKR 5.86) during 4QFY21 against PKR 17,816mn (EPS: PKR 4.14) in 4QFY20, climbing up by 41% YoY. Whereas, earnings in FY21 settled at PKR 91,534mn (EPS: PKR 21.28), down by 9% YoY.… Continue

Mian Nasser Hyatt Maggo, President FPCCI, has requested that NAB should facilitate the business, industry and trade community of Pakistan – and, play its due role to create conducive environment for economic growth in the country. Mian Nasser Hyatt Maggo said that DG NAB should take notice of undue cases of any businessman by any official and unfair notices should be withdrawn.… Continue

Dredging of berths and channel of Karachi Port has been accorded priority since January 2021 so as to maintain designed depths for more and diverse cargo handling. One of the major dredging platforms, namely BHD ALI, has been made operational in January this year after a gap of several years.… Continue

Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry (KCCI) Zubair Motiwala has fervently appealed the federal and provincial governments to pay special attention to the woes of Karachi which has largely been ignored by both the governments that resulted in further worsening the already awful infrastructure all over Karachi where the roads, sewerage and rainwater drainage lines have totally wrecked and the city faces severe gas, electricity and water shortages.… Continue

TikTok, the global platform for creating and sharing short-form videos, has reached a global milestone by building a TikTok community of 1 billion people who now come to TikTok every month to be entertained as they learn, laugh, or discover something new.… Continue

Tasawar Hussain Butt has been unanimously elected as the Chairman of the Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) Central for the year 2021-2022 in the first meeting of the newly elected 20th Central Executive Committee. Rashid Arshad Zahur was elected as Senior Vice Chairman and Kashif Rahim as Vice Chairman.… Continue

Pakistan’s cellular and digital services leader, Zong 4G, has partnered with the country’s Best Bank, Meezan Bank to further build upon an interconnect relationship and deliver exceptional quality service to mutual customers of both the organizations. The partnership will enable Meezan Bank customers, who have Zong prepaid or postpaid connections, to recharge their mobile balance and pay their postpaid bills more conveniently via the bank’s Alternate Distribution Channels.… Continue

Aimed at digitizing the compliance-risk management processes, Standard Chartered Bank Pakistan Limited (“SCBPL”) has selected the Risk Nucleus® Governance, Risk & Compliance (GRC) solution, which is created and backed by the expertise of Bench Matrix. Deployment of this fully configurable and integrated, web-based application reflects the technological-innovation and process-advancement at Standard Chartered, with an aim to further strengthen controls culture through automation for identification, assessment and management of compliance risk.… Continue

Shabnam Zafar Penal candidate Muhammad Bashir Arain has been elected unopposed as President of Khairpur Chamber of Commerce & Industry(KCCI) for the term 2021-2022.

In addition, Najeeb Ullah Abbasi has been unopposed elected Senior Vice President and Saeed Ahmed Phulpoto unopposed as Vice President for 2021-2022.… Continue

In line with the continued easing of travel restrictions around the globe, Emirates has announced that its flagship A380 aircraft will soon be deployed to an expanded list of destinations starting in October and November. By the end of November, the number of cities that the aircraft will serve will be scaled up to 27, representing a more than 65% increase from its current 16.… Continue

Mian Nasser Hyatt Maggo, President FPCCI, has proposed to Ministry of Maritime Affairs, Ministry of Commerce and Customs to work together with Pakistan Shippers’ Council (PSC) of FPCCI to help protect the shippers and freight forwarders of the country from historically and unprecedentedly high shipping and freight charges; coupled with unavailability of shipping containers and container ships.… Continue

·        Market posted gains of 163pts earlier in the session, but faced the onslaught sooner which caused the erosion of these gains and netting a loss of 732pts during the session. Leveraged positions mostly got thrashing, however, resumption of PKR slippage was another reason cited for the panic selling in market.… Continue

The Karachi Port Trust handled 389,392 tons of cargo comprising 285,483 Tones of import cargo and 103,909 Tons of export cargo during last 48 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 285,483 comprised of 95,743 Tons of Containerized Cargo, 12,068 Tons of Bulk Cargo, 10,422 Tons of DAP, 8,168 Tons of Iron & Steel Scrap, 5,475 Tons of Sugar, 23,838 Tons of Wheat and 129,769 Tons of Oil/Liquid Cargo.… Continue

A seismic technology shift is underway around the world, with Ericsson (NASDAQ: ERIC) forecasting 3.5 billion 5G subscriptions and 60 percent global population coverage by 2026. The scale of this technology shift is going to unleash an entirely new wave of innovation to address some of the planet’s most pressing issues.… Continue

Kreative Kinder Haus (KKH), an educational setup that offers inclusive developmental and learning opportunities to children with special needs has launched its new branch of preschool and special needs program for the residents of Lahore in collaboration with Synergy Health Shift Centre.… Continue

Pakistan’s leading e-commerce platform, Daraz, hosted its annual Seller Summit on Sunday, with over 100,000 sellers from around the country attending the virtual event.

Addressing the summit, Daraz CEO Bjarke Mikkelsen said that the past 12 months have been challenging for everyone.… Continue

Ever wondered what the recent moon craze is about? From visiting moon to buying land on the moon, people have been going crazy about it. Most of the people who are doing so are either millionaires or hold a powerful position in the society.… Continue

Sitara Peroxide Limited (SPL) announced its FY21 result today, posting below-expected earnings of PKR 35Mn (EPS: PKR 0.6), down 53% YoY. During 4QFY21 alone, the company recorded a loss of PKR 86Mn (LPS: PKR 1.6) as against a profit of PKR 83Mn (EPS: PKR 1.5) and PKR 24Mn (EPS: PKR 0.4) in 4QFY20 and 3QFY21, respectively.… Continue

Commissioner Karachi Naveed Ahmed Sheikh said that no written orders have been received so far regarding Nasla Tower and any action will be taken only after receiving the court orders. He said that he was working with Sindh Building Control Authority (SBCA) to revive the sealed cottage industry in Mehran Town.… Continue

This week marked FY22’s worst performing week to date (second on CY basis), the equity bourse closed at 45,074points (down by 3.4% / 1,563pts WoW). Amid rising demand and the upcycle in international commodities exacerbating the deficit on the external front, raising red flags over future CPI readings and building pressure on the Pak Rupee, the SBP commenced tapering its monetary stimulus.… Continue

Prof. Khalid Mirza graced the ceremony with his presence, whereas Prof. Dr. Rukhsar Ahmed, Dr. Huma Sodher, Ms Hina Usmani, and Ahmed Chinoy were the honourable guests of speakers. Rubab’s family attended the event, Arts Council’s members, and many young individuals.… Continue

President Karachi Chamber of Commerce & Industry (KCCI) M. Shariq Vohra has requested the government to extend the last date for filing Income Tax Return from September 30, 2021, to October 31, 2021, as many taxpayers were finding it hard to file their returns on time due to ongoing extraordinary situation in which many businesses have suffered badly because of limited timings and other curbs imposed to contain the spread of COVID-19 pandemic.… Continue