Huawei Arab Innovation Day 2021 inspires collaboration to drive innovation in the Arab World

Held under the theme of “Collaboration to Drive Innovations in the Arab World,” Huawei Arab Innovation Day 2021 witnessed landmark keynotes and discussions led by ministerial and senior leaders from the Arab governments, regional and international ICT organizations, and high-level technology stakeholders from different verticals and industries.… Continue

OGDCL makes gas discovery in Balochistan Province, Pakistan

Oil and Gas Development Limited, being the operator of Jandran West Exploration License with 100% Working Interest, has made a Gas discovery over Mughalkot Formation from its exploratory efforts at Jandran West X-1 well which is located in Kohlu District, Balochistan Province, Pakistan, says as per the notice issued to PSX yesterday,

It adds that Jandran West X-1 well was spudded in on 19th May 2021 as an exploratory well and drilled down to a total Depth of 1627m into Parh Formation.… Continue

Daily cargo handling report of Karachi port trust

The Karachi Port Trust handled 110,948 tons of cargo comprising 92,524 Tones of import cargo and 18,424 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 92,524 comprised of 10,288 Tons of Containerized Cargo, 6,646 Tons of Bulk Cargo, 15,240 Tons of DAP, 6,710 Tons of Rock Phosphate, 320 Tons of Sugar, 16,913 Tons of Wheat and 36,407 Tons of Oil/Liquid Cargo.… Continue

PTCL, Ufone recognized as Best Place to Work at Pakistan’s leading HR awards

Pakistan Telecom Company Limited (PTCL) and Ufone have been recognized at the Best Place to Work Awards 2021 organized by Pakistan Society of Human Resource Management (PSHRM) and Engage Consulting, during a ceremony held in Karachi.

Awards were announced on the basis of independent surveys conducted by PSHRM and Engage Consulting to study human resource management practices and work environment in over 160 companies from all over Pakistan.… Continue

Pakistan foreign reserves decreased by US$ 1,646 million

According to State Bank of Pakistan dated October 21, 2021, the total liquid foreign reserves held by the country stood at US$ 24,327.4 million on 15-October-2021. The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan: US$ 17,492.2 million

Net foreign reserves held by commercial banks    : US$ 6,835.2 million

Total liquid foreign reserves             : US$ 24,327.4 million

During the week ended 15-October-2021, SBP reserves decreased by US$ 1,646 million to US$ 17,492.2 million, mainly due to external debt repayment that included repayment of US$ 1,000 million against Pakistan International Sukuk.… Continue

ENGRO to announce a cash dividend of PKR 8.00/share in 3QCY21

Engro Corporation Limited (ENGRO) is expected to announce its 3QCY21 financial result on 22nd Oct’21, where we expect the company to post a consolidated earnings of PKR 7,878mn (EPS: PKR 13.67), down by 15% YoY.

On the fertilizer business front, EFERT’s bottom-line clocked-in at PKR 4,412mn (EPS: PKR 3.30), depicting a decline of 37% YoY during 3QCY21 given i) fall in urea and DAP offtake by 9% and 46% YoY, respectively and ii) drop in gross margin by 324bps YoY, settling at 25.72% since company is accruing industrial feed gas rate at EnVen plant as concessionary gas period has ended on 30th Jun’21.… Continue

Carrefour becomes the only modern retailer to receive ‘Best taxpayer award’

Carrefour,owned and operated by Majid AlFuttaim in Pakistan,became the only brand within modern retail sector to have received a special recognition of being the ‘Best taxpaying Company’ at the inaugural Taxpayer Recognition Awards 2021,hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI) in collaboration with the Federal Board of Revenue (FBR).… Continue

Investors resorted to profit booking in PSX today

· A clear signal of concluding IMF review and resumption of IMF Package by Shaukat Tarin swayed the index to add a total of 665pts during the session, which has cumulatively added ~3000pts since the near term bottom of 43200pts. Bank and E&P stocks contributed the most, whereas selling pressure was witnessed in Technology and Cyclicals (Cement and Steel) sectors.… Continue

Ufone subscribers can now purchase call and data bundles within the Facebook app

Pakistani telecom company Ufone has partnered with Facebook to launch Facebook Mobile Center, a customer engagement channel within the Facebook app that Ufone can use to deliver seamless, mobile data purchases and service experiences. With Mobile Center, Ufone customers will be able to purchase Ufone call and data bundles right from the Facebook app and browser.… Continue

EBM acknowledged as the ‘Best Place to Work’ in Pakistan

English Biscuit Manufacturers (EBM) has earned the top position in the ‘Best Places to Work’ award in the FMCG Industry. The ranking portrays the commitment of EBM to continuously elevate the standards of its operations as well as its products. EBM’s tireless efforts have been recognized by the industry on numerous occasions.… Continue

Power Generation up by 7.1% YoY during Sep’21 in Pakistan

Power generation went up by 7.1% YoY to 14,032 GWh (19,489 MW) during Sep’21, compared to 13,104 GWh (18,200 MW) during Sep’20. The rise in generation is witnessed due to higher generation of Nuclear, Wind, FO, Bagasse, Coal and Hydel.

Major contributors during Sep’21 were Hydel (Share: 36%), RLNG (Share: 19%), Coal (Share: 17%), Nuclear (Share: 9%), Gas (Share: 9%), FO (Share: 7%), Wind (Share: 2%), and Solar (Share: 0.4%).… Continue

Tax compliance termed unsatisfactorily: Mian Zahid Hussain

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said that despite the government’s best efforts, the direct tax compliance is not satisfactory, which is imperative for the national development.… Continue

UBL announced a dividend of PkR4/sh

· United Bank Limited (UBL) announced its 9MCY21 results yesterday where the bank reported earnings of PkR17.8 (NPAT: PkR21.9bn) compared to PkR12.8 (NPAT: PkR15.4bn) in the same period last year. The result came in line with our expectations.

· Together with the result, the bank announced a dividend of PkR4/sh, taking YTD cumulative payout to PkR12/sh.… Continue

Dubai’s RTA extends partnership with Ericsson to transform Dubai’s public transportation system

Dubai’s Roads and Transport Authority (RTA) has extended its partnership with Ericsson (NASDAQ: ERIC) to modernize the Regulatory Monitoring System (RMS) from on-premise to a secured local public cloud environment. As RTA taxis around the city are integrated with new digital technologies, the connected vehicle platform will enable RTA to enhance the regulations of public transportation in Dubai.… Continue

NHA arranges 3-day Eid Melad-un-Nabi Mehfils

On sacred occasion of Eid Melad-un-Nabi, following directions of Federal Minister for Communications and Postal Services Mr. Murad Saeed, National Highway Authority arranged 3-day Eid Melad-un-Nabi Mehfils, participated by Chairman NHA Capt ® Muhammad Khurram Agha and officials of NHA at large at NHA head office.… Continue

Ghauri’s condolence

Arts Council of Pakistan Karachi Senior Program Manager Abdul Bari Khan reference would hold on Thursday, October 21, 2021, at 6 pm in Jhon Elia Lawn.

President Arts Council Muhammad Ahmad Shah, Stage Show Committee Chairman Syed Saadat Jafari, Iqbal Latif, Shahid Mohi-uddin, Shakeel Khan, Kausar Rizvi, renowned journalist Shah Waliullah Junaidi, Akhtar Ali Akhtar, Amin Yousuf, Mehmood Khan, Abdullah Shah, Abdul Moiz Qazi, were present on the occasion, artists, poets, writers, critics and other people from other walks of life will express their views.… Continue