Meta, in collaboration with the Pakistan Telecommunication Authority (PTA), has launched an educational series, ‘Chai Chats’ to create awareness among young Pakistani Facebook users on digital literacy and social cohesion through improved digital experiences. The series features a close-knit group of university friends encountering difficult online situations which they overcome with grace, friendship, and humour to inspire and persuade youth to adopt a positive and responsible online behaviour.… Continue
Author Archive: Siddiqi
Developed countries have pushed the world into an economic crisis: 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 Monday said the whole world had been pushed into an economic crisis by the developed countries in an attempt to punish Russia.… Continue
NdcTech joins hands with CaterpillHERs to empower Women in Pakistan
NdcTech, Pakistan’s leading IT & Consulting company, has joined hands with CaterpillHERs to provide remote based education to female freelancers looking to kickstart their career from scratch.
Under this CSR initiative, the selected women who are seeking to head start their career or business will be placed in a 12-week acceleration cohort.… Continue
BankIslami proudly sponsors Bahria’s BSPC Talks ‘Voice of Youth’
BankIslami, Pakistan’s leading Islamic financial institution, served as the title sponsor for Bahria Society of Professional Communication (BSPC) Talks, a platform where captivating stories and ideas are exchanged that have the potential to transform the listeners’ lives. BSPC is a student-run society at Bahria University that focuses on the development of communication skills among its members by organizing various workshops and seminars.… Continue
The market stayed under pressure throughout the day due to concerns over mounting
· The market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy. The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking. Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.… Continue
THF & SBTE sign MoU to create a skilled Pakistan
The Hunar Foundation (THF), Pakistan’s largest Not-For-Profit Organization in private TVET sector, and Sindh Board of Technical Education (SBTE) recently signed a Memorandum of Understanding at the THF Korangi Corporate Office.
While The Hunar Foundation (THF) prioritizes opportunities for underprivileged and marginalized segments of the society to train and equip them with in-demand and employable skills, the SBTE’s vision is to provide a certified skilled workforce for the economic development of Sindh province and the country by providing quality assessment and well-recognized certification and facilitate competency-based training as per employer/industry needs.… Continue
Pak-Qatar General Takaful signs MoU with Auto One Motors.
Pak-Qatar General Takaful signed MoU with Auto One – The largest Automotive marketplace for car buyers and sellers in Pakistan. They deal with numerous certified second-hand and used, cars from large numbers of dealers and private sellers.
After a signing ceremony was held in Karachi.… Continue
Pakistan oil marketing sees a growth of 16% YoY in FY22
Pakistan oil sales declined by 11% MoM to 1.9mn in June 2022, mainly driven by ~14% MoM dipped in MOGAS and HSD sales. This was due to a sharp increase in MOGAS and HSD prices by 31% & 51% in June 2022, respectively.… Continue
Trade Associations demand govt to ensure affordable electricity in Karachi
The representatives of eight trade and industrialists’ associations hold a joint press conference at Karachi Press Club urging the government for its immediate intervention in ensuring affordable electricity to industries in Karachi for saving businesses, export productions, and livelihoods of millions of people.… Continue
U.S. Mission Pakistan celebrates future of women in energy scholar’s pilot program
U.S. Agency for International Development Mission Director Reed Aeschliman presided over a graduation ceremony for 17 female Pakistani university students who successfully completed the U.S.-Pakistan Women’s Council (USPWC) Future of Women in Energy Scholar’s pilot program. The graduation ceremony took place at the U.S.… Continue
PSX market Review for the week
The outgoing week witnessed lackluster activity in the KSE-100 index primarily due to prolonged uncertainty on the resumption of IMF program, high twin deficits, runaway inflation and rising political noise. Despite tough measures being taken by the govt. in the form of reversal of energy subsidies and major taxation changes in the budget, several steps were still needed to be taken to convince the IMF and get the program back on track.… Continue
KE announces revised load shedding timings
In light of the ongoing power supply constraints, K-Electric announced a rationalized load shed schedule for its customers. The revised plan is effective July 1, 2022. This step is being taken to provide relief to customers experiencing night-time loadshed in high-loss areas.… Continue
KCCI seeks early implementation of Interest-Free Banking
Chairman Businessmen Group in the KCCI, Zubair Motiwala, and KCCI President, Muhammad Idrees have extended gratitude to Prime Minister Shahbaz Sharif for taking interest in the implementation of the Federal Shariah Court’s decision of introducing Riba Free banking in Pakistan. They have requested the government to introduce interest free banking in Pakistan according to the Islamic Principles and implement the court’s decision in true letter and spirit. … Continue
The market traded in the green zone as the fertilizer sector remained in the limelight due to price increase
· The market traded in the green zone as the fertilizer sector remained in the limelight due to price increase. Investors hunted for value buying throughout the day. CPI for the month of Jun’22 clocked in at 21.32% YoY (6.43% MoM).… Continue
Mobilink Microfinance Bank to offer Adamjee Life Assurance products to customers across its nationwide branch network
Mobilink Microfinance Bank (MMBL), Pakistan’s Largest Digital Bank has signed a Term Life Insurance Memorandum of Understanding (MoU) with the country’s leading insurance service provider, Adamjee Life Assurance. This strategic partnership is designed to promote enhanced access to premium insurance products from Adamjee’s portfolio for customers in unserved and underserved regions through MMBL’s vast nationwide branch network.… Continue
Boskalis opens a new offshore renewables office in Providence, Rhode Island
Boskalis, with a presence in the US market spanning more than forty years, has recently opened a new office to support the rapidly developing US offshore wind market along the east coast. The office, located in Providence, Rhode Island, will serve as the Boskalis renewables hub from which multiple project teams will be supported.… Continue
PSX posted -12.3% return in FY22; lowest after FY19
Index slipped 5,815 pts in FY22
Pak stocks suffered a rout during FY22 amid deep uncertainty to close at 41,541 points, down by 12.28% / 5,815 points YoY, which took the USD based return to a negative 32.5%. This was the worst performing year after FY19 (-19% return).The… Continue
U.S. and FC KPK officials inaugurate new training facilities, sign agreement for $10.5 million projects
United States Assistant Secretary of State for International Narcotics and Law Enforcement Affairs (INL) Todd D. Robinson and the U.S. Embassy in Pakistan INL Section Director Mark Tervakoski joined Inspector General of Frontier Corps Khyber Pakhtunkhwa South Major General Muhammad Munir Afsar, Deputy Inspector General of Frontier Corps Khyber Pakhtunkhwa North Major Brigadier Sajid Majeed, and other senior Frontier Corps leadership as they inaugurated new training structures and signed an agreement for two joint projects worth approximately $10.5 million (2.1 billion PKR) on July 1, 2022. … Continue
Walee-Nust launches Pakistan’s first center of excellence for social and digital media technologies
Walee Technologies Pvt. Ltd. (Walee), Pakistan’s leading influencer marketing technology company, and the country’s top academic institution, the NUST School of Electrical Engineering & Computer Science (SEECS) have established Pakistan’s first industry-academia Center of excellence to develop innovative social and digital AI-driven solutions and deeper intelligence to serve the USD100 billion* global creator economy.… Continue
Boskalis announces EGM date and publishes Position Statement in connection with HAL Offer
Royal Boskalis Westminster N.V. (Boskalis) has taken note of the press release issued by HAL Holding N.V. (HAL) on 24 June 2022 in which it formally announced the launch of its public offer for all issued and outstanding shares of Boskalis (the Offer).… Continue
Film Academy (OSCARS) invites filmmaker Mohammed Ali Naqvi as a member
The Academy of Motion Pictures Arts and Sciences has invited distinguished members of the global film community to join the organization under various categories and our very own Mohammed Ali Naqvi is one of them. Recognizing his talent and vision, international acclaim and numerous awards in documentary and film making, Naqvi has been invited to become a member of the Oscars under the category of documentaries.… Continue
Meezan Bank expands its ATM Network to 1,000
Meezan Bank, Pakistan’s leading Islamic bank, has installed its 1,000th Automated Teller Machine (ATM). This landmark cash dispensing terminal has been installed at Chashma in District Mianwali. Since its inception, the bank has expanded its ATMs across Pakistan’s rural and semi-urban regions, providing round-the-clock access to cash and furthering basic banking and financial inclusion for the masses.… Continue
GATM to install 20MW solar plant by FY23
Gul Ahmed Textile Mills Limited (GATM) announced that the IPO of IDEAS (subsidiary of GATM) will be done once the environment is conducive and the company can draw better valuations.
The management held it analyst-briefing session today to discuss recent financial result and future prospects.… Continue
SBP’s reserves increased by US$ 2,071 million
The total liquid foreign reserves held by the country stood at US$ 16,195.6 million as of 24-Jun-2022. The break-up of the foreign reserves position is as under:-
Foreign reserves held by the State Bank of Pakistan: US$ 10,309.0 million
Net foreign reserves held by commercial banks : US$ 5,886.6 million
Total liquid foreign reserves : US$ 16,195.6 million
During the week ended on 24-Jun-2022, SBP received proceeds of CDB loan amounting to RMB 15 billion.… Continue
Free Fire Pakistan onboard Asim Azhar and Merub Ali to feature together
Free Fire Pakistan have announced the onboarding of Asim Azhar and Merub Ali in their latest collaboration which will feature a new single followed by a music video co-created with Asim Azhar. This collaboration brings about the first published work of the infamous celebrity couple, with the pair featuring together for the first time ever.… Continue