The fact that short videos are absolutely booming in popularity should come as no surprise. We’re leading increasing busy lives with short breaks during the day. We don’t have the time to sit through a YouTube video; we need our entertainment short, sweet, and right now.… Continue

In April 2021, auto industry sales fell 17% mom to c.17,000 units, on account of lower production and reduced working hours during the month of Ramadan, while tightening of restrictions amid third wave of Covid-19 also played a part, in our view.… 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 economy is improving due to steps taken by the government.

Improvement in the industrial is limited to Large Scale Manufacturers (LSM); therefore, steps should be taken to boost medium and small industries, he said.… Continue

· First trading session after a long Eid vacation, the Market opened +347pts, courtesy LUCK & TRG. MSCI EM review during the off period saw inclusion of LUCK and TRG and deletion of INDU, PKGS, OGDC and NBP that resulted in negative price performance in OGDC and likewise positive price performance in LUCK.… Continue

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has posted strong financial results during the first quarter of 2021 as showcased by its quarterly financial statements. MMBL recorded a 70% increase in Net Revenues and a whopping 1,390% increase in Profit Before Tax in Q1, 2021 against the corresponding quarter of the last year.… Continue

The total liquid foreign reserves held by the country stood at US$ 22,910.3 million on 07-May-2021. The break-up of the foreign reserves position is as under: –

• Foreign reserves held by the State Bank of Pakistan: US$ 15,774.5 million
  
• Net foreign reserves held by commercial banks    : US$ 7,135.8 million
  
• Total liquid foreign reserves                 : US$ 22,910.3 million
  

During the week ended 07-May-2021, SBP reserves increased by US$ 177 million to US$ 15,774.5 million, due to GoP official inflows.… Continue

Pakistan footwear industry has submitted proposals to the ministry of finance aimed at to boost the production and export of the footwear industry in Pakistan. Federal Minister for Finance Shaukat Fayyaz Ahmed Tarin is likely to present the federal budget for 2021-22 in the parliament in the 2nd week of June 2021.… Continue

After very strong profit delivery in 1QCY21 (EPS: PKR1.92), we raise our CY21f EPS estimates for BAFL by 10% to PKR6.30 but leave subsequent projections largely unchanged. As a result, our Dec’21 TP stays at PKR45/sh (ETR: 52%). We have a Buy stance on BAFL, which remains a top pick in the Banking space.… Continue

The Karachi Port Trust handled 240,104 tons of cargo comprising 173,623 Tones of import cargo and 66,481 Tons of export cargo during last 48 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 173,623 comprised of 112,689 Tons of Containerized Cargo, 986 Tons of Bulk Cargo, and 59,948 Tons of Oil/Liquid Cargo

TOTAL EXPORT CARGO:

The total export cargo of 66,481 tons comprised of 41,236 tons of containerized cargo, 24,845 Tons of Clinkers, and 400 Tons of Oil and Liquid Cargo.… Continue

Committed to its resolve to support the Sustainable Development Goal 2 – Zero Hunger, Indus Motor Company (IMC) in partnership with the Saylani Welfare International Trust (SWT) distributed food rations to the underprivileged communities under its flagship CSR initiative, Toyota Community Uplift Program.… Continue

MOL Pakistan Oil and Gas Company B.V. donated hand sanitizer and personal protective equipment (PPE) including face masks and disposable gowns to help tackle the third wave of the pandemic gripping the country.

MOL Pakistan was one of the first companies to respond to the pandemic by providing millions of rupees in funding for the setup of quarantine centers in Islamabad.… Continue

Secretary of State Antony J. Blinken spoke today (May 16) with Pakistani Foreign Minister Shah Mahmood Qureshi and highlighted the importance of continued cooperation on the Afghan peace process, Pakistan’s progress on countering terrorism, and the potential to expand our trade and commercial ties and to improve regional connectivity in South Asia.… Continue

Effective from May 17, 2021, the State Bank of Pakistan will revert to normal office hours, which shall also be followed by all banks / DFIs / MFBs as under:

Monday to Thursday from 9:00 a.m. to 5:30 p.m. with prayer / lunch break from 1:30 p.m.… Continue

The Morgan Stanley Capital International (MSCI) announced its Semi Annual Review (SAIR) outcome earlier this week, whereby Pakistan now has a weight of 0.023% compared to 0.016% previously. Additionally, Pakistan’s weight in the small-cap index has been revised to 0.379%. Pertinently, said changes would become effective from May 28, ’21.… 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 Wednesday said COAS General Qamar Javed Bajwa is playing a laudable role in improving relations with Saudi Arabia, which is in line with the national interests. … Continue