KSE-100 index witnessed a volatile session

· On the MSCI rebalancing day, KSE-100 index witnessed a volatile session as it made a dicey move of more than 1,000 points, making a close above 45,000 points benchmark. E&P sector stayed in the limelight as Government is considering a scheme to reduce the stock of the circular debt by declaring dividends for the shareholders of energy sector companies.… Continue

Easypaisa revamps its App with improved money transfer features

In continuation of its efforts to improve and simplify customer experience, Easypaisa, Pakistan’s No.1 Payments App has added new features into its Money Transfer product. Based on extensive user research, a completely new interface provides brand new and convenient user journeys for Easypaisa users to continue to send and receive funds to other Easypaisa customers, any Bank Account or to any person’s CNIC.… Continue

Agha Steel new plant will come online in Jun’22

The management of Agha Steel Industry Limited (AGHA) held a Corporate Briefing session today to discuss the company’s performance and future outlook.

Highlights:

· AGHA’s new plant will come online in Jun’22.

· Most equipment for MI. DA has been imported but could not be installed due to COVID restrictions.… Continue

MUGHAL – a brief economic note

· We update our investment case on Mughal Steel & Iron Industries (MUGHAL) post corporate briefing session and release of 1QFY22 accounts where we incorporate MUGHAL’s higher than expected sales volume, increasing our FY22 sales volume assumption to 350k tons from 330k tons earlier for long-rolled segment while for copper segment, we have increased our assumption to 8k tons from 7.5k tons earlier (EPS for FY22F increased to PkR19.0 form PkR17.2).… Continue

Geoeconomics of ECO Region: 8% Intraregional Trade is not enough: Nasser Maggo, President FPCCI

Mian Nasser Hyatt Maggo, President FPCCI, has expressed his dissatisfaction over the fact that the 10-country alliance of Economic Cooperation Organization (ECO) has a trade share of only 8% intraregionally; whereas, the border & land-based trade accounts for more than 70% among geographically contiguous countries and regional alliances.… Continue

Befiler to introduce a digital solution for tax filing with Karandaaz Support

Befiler recently won a grant for a digital experiment from Karandaaz Pakistan, a not-for-profit funded by the UK’s Foreign, Commonwealth and Development Office (FCDO) and the Bill & Melinda Gates Foundation (BMGF). Befiler participated in the recent round of Karandaaz’s Digital Experiment Program, and won the grant through a competitive application process.… Continue

WAPDA completes revised design of K-IV Project

Pakistan Water and Power Development Authority (WAPDA) Chairman Lt Gen Muzammil Hussain (Retd) visited Greater Karachi Water Supply Scheme – also known as K-IV – to review progress on the project. WAPDA General Manager Projects (South), K-IV Project Director and representative of the Consultants were present on the occasion.… Continue

Expensive electricity, gas and petro products will increase inflation: Mian Zahid Hussain

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 Monday said devaluation of currency increases exports and decreases imports but in Pakistan sharp decline in the value of rupee has not dented imports which is astonishing.… Continue

Engro Fertilizers wins the prestigious UN Women 2021 Asia-Pacific WEPs Awards

Engro Fertilizers Limited, Pakistan’s premier seed-to-harvest solutions provider, has secured first runner up position in the category of “Leadership Commitment” at the prestigious UN Women 2021 Asia-Pacific WEPs Awards.

The UN platform has recognized Engro Fertilizers for its extraordinary efforts in advancing gender equality and economic empowerment of women in Pakistan, despite facing challenges during the global COVID-19 pandemic.… Continue

Turkish Consul General visited Dawlance factory in Karachi

Dawlance is the leading producer of home-appliances and electronics in Pakistan, which is a wholly owned subsidiary of Arçelik – the 2nd largest manufacturing enterprise in Europe. The Consul General of Turkey – Mr. Tolga Uçak, recently visited the Dawlance Private Limited factory (DPL–2) in Karachi, to inaugurate its newly installed, state-of-the-art manufacturing plant for air-conditioners.  … Continue

Zong 4G’s Multan Dhammal offer brings enhanced experience for residents

Zong 4G, Pakistan’s digital leader, has launched the ‘Multan Dhamaal Offer’ to better serve its clients in underserved areas. The offer exemplifies Zong’s proactive customer-centric attitude, which has helped it become Pakistan’s leading network.

Residents of Multan will be able to get 5 GB of Internet, 1,000 On-Net Minutes, 30 Off-Net Minutes, and 1,000 SMS for just PKR 80 per week through the Multan Dhamaal Offer.… Continue

U.S. Embassy inaugurates Maker Lab at the National Library of Pakistan

U.S. Embassy Public Affairs Minister Counselor Ray Castillo and Joint Secretary Muhammad Mureed Rahimoon of the National Heritage and Cultural Division inaugurated a “Maker Lab” within the Lincoln Reading Lounge at the National Library of Pakistan. The space will serve as a tech lab that will provide young Pakistani inventors, entrepreneurs, and educators with the latest technology and resources to foster innovation.… Continue

Philip Morris (Pakistan) Limited enhances efficiency through green energy

Philip Morris (Pakistan) Limited (PMPKL), in its continuous efforts to become more power efficient, achieved a 41% energy consumption reduction compared with its 2018 baseline by generating and transitioning towards green energy and enhancing sustainability in its overall operations.

In line with Philip Morris International’s (PMI) vision to achieve net zero carbon neutrality for direct operations by 2030, PMPKL’s manufacturing team has undertaken multiple projects for improving energy efficiency and increasingly using renewable energy sources.… Continue

The Raziuddin Shaikh All-Pakistan Senior Debating Championship 2021, inaugurated in Islamabad

The City School Capital Campus inaugurated the Raziuddin Shaikh All-Pakistan Senior Debating Championship 2021 for the first time in Islamabad. The event’s inaugural ceremony commenced on Friday, 26th November 2021, embracing the enthusiast student debaters from all across Pakistan.

The five-day debating competition comprises of 64 teams with 500 plus talented students from the most prestigious institutions from across Pakistan.… Continue

The realme C25Y rolls out in the market today

realme’s C-Series is quite the star – one for its quality with the TUV Rheinland High Reliability Certification and an overall value for money. So, realme has unveiled yet another star in the C-Series league called realme C25Y which promises to deliver top-notch specs in a budget, striving to be the ultimate choice for buyers who want a taste of the future on an easy pocket.… Continue

PSX expected outlook, next week

As expected, the market remained under pressure after SBP increased the benchmark interest rates by 150bps against the general consensus of 100bps. Also, the news of CAD deteriorating to US$1.66bn created further volatility in the market.

For upcoming week, we expect the market to change the momentum to positive side owing to the meltdown in Crude Oil where Brent Crude (ICE) has declined 5.73% so far this evening, thereby giving a sigh of relief on the commodities front.… Continue