A positive session was observed at PSX today.
· A positive session was observed at PSX today. The KSE-100 index opened in the green following much-needed clarity on the Monetary Policy Statement, with a 100bps point increase in…
Pakistan Economy – April 4, 2023, 100bps hike; Highest ever policy rate of 21%
In the monetary policy meeting held today (4th Apr''23), the State Bank of Pakistan (SBP) increased the benchmark policy rate by another 100bps to 21%, a record high. To recall,…
Poor education system contributes to the economic meltdown.
Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt, on Tuesday said the poor education system had played an important role in the economic collapse.…
ZEM Builders hold Spring Fest to promote small businesses.
ZEM Builders hosted the Bahria Royal Riding Club Spring Fest 2023 to support entrepreneurs and small businesses. The Spring Fest 2023 provided an excellent opportunity for small vendors to participate…
Urgent action is needed to increase the production of local edible oil, Umer Rehan
Sheikh Umer Rehan, Former President of the Korangi Association of Trade and Industry (KATI) and Former Vice Chairman of Pakistan Vanaspati Manufacturers Associatin (PVMA), has called for urgent action to…
Mastercard reimagines bespoke travel experiences through strategic partnership with Illusions Online
Pakistan: Mastercard and Illusions Online, a global leader in enterprise solutions for the hospitality industry, have partnered to launch a unique online platform to bring customised travel offers to Mastercard…
President SAI calls for the urgent resumption of gas to all industries in SITE.
President SITE Association of Industry (SAI) Riaz Uddin has condemned the suspension of gas supply to the Industries and their captive power plants (CPP), and requested the federal and provincial…
Unity Foods appoints Nutshell Communications as communications and strategic engagements partner.
Unity Foods Limited, a leading food producer and supplier to the nation's food security system, entered into a Communications and Strategic Engagements partnership with Nutshell Communications (Private) Limited. An agreement…
Futile Monetary Policy: Economy will collapse at 2100 bps: FPCCI
President of FPCCI – the country's apex body – Mr. Irfan Iqbal Sheikh, has categorically apprised the government that Pakistan's entire business, industry and trade community has refused to accept…
State Banks raised interest rates to 21%
At today's meeting, the Monetary Policy Committee (MPC) increased the policy rate by 100 basis points to 21 percent. The MPC noted that inflation in March 2023 rose further to…
President KCCI demands immediate restoration of gas to all industries of Karachi
President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf, while expressing deep concerns over enduring suspension of gas supply to industries in Karachi, appealed the government to issue…
The PSX recorded a negative session today.
· The PSX recorded a negative session today. The market opened in the red and continued to trade in the same territory due to the expectation of a rate hike…
Bazaar launches Bazaar Prime, its exclusive distribution vertical
Bazaar, Pakistan's leading B2B e-commerce platform for 5M+ businesses, launches Bazaar Prime - its exclusive market distribution arm for retail suppliers and manufacturers. Bazaar's B2B platform provides procurement, fulfilment, digital…
A.P. Moller – Maersk launches new US-China air cargo link
To meet its customers' end-to-end logistics needs, A.P. Moller - Maersk (Maersk) introduces two new air freight services with regular flights linking the Unites States with China. Maersk´s new customer-backed…
NEPRA conducts hearing on uniform quarterly adjustments for KE customers
NEPRA conducted a public hearing on Monday on the Federal Government's request to apply quarterly adjustments on KE customers. These Quarterly Adjustments of PKR 1.5547 and PKR 1.48-4.45 pertains to…
APCMA reports cement despatches declined by 24.19% during Mar-2023
Cement despatches declined by 24.19% in Mar-2023. Total Cement despatches during Mar-2023 were 3.795 million tons against 5.006 million tons despatched during the same month of last fiscal year. According…
Govt urged to consider good intentions, set factory owner free
President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf and President Site Association of Industry Riazuddin, while expressing deep grief over loss of precious lives in a stampede…
Petroleum sales declined 9% MoM in Mar-2023; Lowest oil sales recorded in 35 months
Pakistan oil sales in Mar-2023 decreased by 9% MoM to 1.11mn tons mainly due to 1) lower demand of FO for power generation, and 2) slowdown in overall economic activity…
TikTok introduces a new way to refresh For You feed recommendations
Popular short-video platform TikTok has announced a new feature that allows users to refresh their For You feed if they feel that their recommendations are no longer relevant. This new…
Daraz Pakistan celebrates the spirit of Ramadan through the ‘Daraz Donates’ initiative
Continuing its annual tradition, Daraz, Pakistan's leading online marketplace, has partnered with several non-profit organizations to give its users the option to support causes closest to their hearts during Ramadan.…
A mixed session was recorded at the PSX to kick off the business week.
· A mixed session was recorded at the PSX to kick off the business week. The market opened in the green zone, but lack of investor involvement drove the index down…
High energy prices are a threat to the masses and the economy.
Former Vice President of FPCCI Atif Ikram Sheikh on Sunday said high electricity and fuel prices had become a threat to the masses and the country's economy. The increasing price…
Pakistan is on the brink of a severe humanitarian crisis.
The Pakistan Economy Watch (PEW) on Saturday said inflation and growing insecurity of necessities is increasing instability in Pakistan. It said people had been killed and injured in stampedes at…
The market share of EFERT increased by 5ppt YoY basis.
Urea offtake in February 2023 reduced by 5% YoY and 20% MoM to c.503,000 tons. The MoM decline in volumes is due to the off-season impact. The market share of…
The market witnessed lacklustre performance this week.
The market witnessed lacklustre performance this week, with a weekly change of 59 points. The reason behind this dull performance was economic and political instability that remained throughout the week.…
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