Google and Kantar release ‘Journey to Digital’ research to shed light onto Pakistan’s online behaviours

A
new study has shown that Pakistan’s internet population is now at 54% in 2021 with almost half accessing the internet everyday E-commerce fuels online economy and over a third of Pakistan’s internet users have bought online at least once

Today, for the first time, Google and Kantar shared new research about the digital population in Pakistan.Continue

The United States donates three million additional doses of the Moderna Covid-19 Vaccine to Pakistan

Today, the United States was pleased to donate three million doses of the life-saving Moderna COVID-19 vaccine to the Government of Pakistan for distribution to the Pakistani people. These vaccines were delivered in partnership with the COVAX facility and UNICEF.

This donation is part of the 80 million doses the United States is sharing with the world, delivering on our pledge to facilitate equitable global access to safe and effective vaccines, which are essential to ending the COVID-19 pandemic.… Continue

PTCL signs strategic contract with Whale Cloud Technology

Pakistan Telecommunication Company Limited (PTCL) has signed a strategic contract with Whale Cloud Technology for the transformation of its mission critical Charging and Billing platform.

Nadeem Khan, Acting CEO & Group CFO, PTCL & Ufone and Chen XiaoWei, President South Asia, Whale Cloud Technology, signed the contract during a ceremony held at PTCL HQ, Islamabad.… Continue

PSX index sees a growth of 6% in volume today

· Market lost another 363pts during the session today, however, covered a lot of ground and ended the session -6pts (unadjusted). Banks, E&P, Cement, Power and Technology sectors saw selling pressure on the concern of lockdown as well as rollover positions, whereby investors preferred selling in ready market and bought futures.… Continue

Farah Naz appointed as Falcon-i’s first female MD

Farah Naz has joined Falcon-i, Pakistan’s leading IoT fleet management company, as the first female Managing Director since the company’s inception. An alumna of the Institute of Business Administration (IBA), Ms. Naz joins Falcon-i from the energy sector and is looking to take the company to new heights.… Continue

AAA Associates set a new benchmark of excellence for the Real Estate Industry in Pakistan

AAA Associates, a leading group of Companies, has announced completion of 6 out of 9 construction projects within a record period of 6 years. The remaining 3 Projects are under construction, to be completed within a year. AAA Associates holds great trust among the investors primarily because of the timely deliverance, acquiring land at prime location, designing and construction of state-of-the-art residential and commercial buildings with unparalleled amenities.… Continue

Efert announced Rs. 4.00 per share today

Board of Directors of Engro Fertilizers Limited (“the Company”), in their meeting held on July 29, 2021, at 10:00 a.m. through the video-link facility, reviewed and approved the unaudited consolidated and standalone financial results of the Company for the six months ended June 30, 2021, and recommended the following:

An interim Cash Dividend for the second quarter ended June 30, 2021, at Rs.… Continue

Careem to connect its merchants and employees through Jazz’s communications solutions

Careem, the Super App for the greater Middle East and Pakistan, has recently announced its partnership with Jazz, Pakistan’s number one 4G operator and the most prominent internet and broadband service provider. This partnership allows Careem access to Jazz’s campaign management tools and provides its colleagues and restaurant merchants with GSM cellular service.… Continue

OGDC discovers gas and condensates discovery in KPK

The state-owned Oil and Gas Development Company Limited (OGDCL) has informed Pakistan Stock Exchange (PSX) that it being the operator of Wali Exploration Licence with 100% working interest, has made a gas and condensate discovery over Kawagarh Formation from its exploratory efforts at well Wali # 01, which is located in FR Lakki, Khyber Pakhtunkhwa Province.… Continue

PSX index shows a decline of 369pts today

· Market tumbled in later part of the session today, which brought the index down by more than 400pts and closed the session -369pts. Concerns over latest COVID lockdown and probe by the regulator on account of unusual price movement in certain stocks brought the market under selling pressure and became the major reasons for sentiment weakness.… Continue

KPT starts defueling ground vessel at beach

Karachi Port Trust (KPT) said today that the de-bunkering of barge Heng Tong 77, grounded at Sea View beach in Karachi, commenced at 0600 hours. KPT’s Marine Pollution Control Department along with port authority ambulance, Port Fire Department and Port Security Force deployed around site.… Continue

Pakistan selling on AMAZON

Mian Nasser Hyatt Maggo – President FPCCI – has welcomed an august gathering of e-commerce trainers and practitioners at Federation House to educate and train the businessmen and entrepreneurs on getting started and profitably selling globally through Amazon’s platform.

FPCCI Chief expressed his satisfaction that top talent from Pakistan and beyond have attended the seminar and made their presentations based on real-world practices and success stories.… Continue

Efert to post massive jump in profit 1HCY21

Engro Fertilizer Ltd. (EFERT) is scheduled to disclose the financial result for the period 1HCY21 on 29th Jul’21, where we expect the company to post a Profit after Tax of PKR 10,279mn (EPS: PKR 7.69) compared to PKR 4,457mn (EPS: PKR 3.34) in 1HCY20, showing a massive jump of 2x YoY.… Continue

Industries foresee massive breakdown & disaster in the wake of minimum wage of Rs25,000 notified by Sindh Govt

The industries of Sindh particularly of Karachi are highly aggrieved and perturbed by the controversial move of the Sindh Government to increase Minimum Wage from Rs17,500/- to Rs25,000/- without following due process of law and in contrary to the provisions of Sindh Minimum Wage Act 2015 and ILO’s minimum wages fixation convention 1970 which have deprived the industries of Sindh from level playing field not locally but also globally making them uncompetitive and unviable to operate due to exorbitant upshot in the cost of manufacturing as wage is the major component in the cost.… Continue