Indeed, it was a historic day for the gas industry in Pakistan. SSGC’s Chairperson Dr. Shamshad Akhtar inaugurated a new assembly line for measuring units of G-4 Gallus residential gas meters. The gas utility’s Meter Manufacturing Plant (MMP) is South East Asia’s only one of its kind located inside the Head Office compound.… Continue
Fly Jinnah, Pakistan’s new low-cost carrier (LCC), offers new opportunities for experienced pilots and young talents to join the airline as part of its recruitment drive to fulfil the requirement of its operational workforce. New inflight operations positions such as A320 Captain, A320 Senior First Officer – Fast Track Command, Non-Type Rated Captain, and cabin crew are now open.… Continue
Pakistan Petroleum Limited (PPL) held its analyst briefing earlier today, discussing the following points. Regarding international operations, the block in Abu Dhabi has several known discoveries, and the company expects to spud the first well in the mid-next year.
· To recall, the company posted the highest quarterly PAT PkR26.6bn (EPS: PkR9.8) for 1QFY23, higher by 20.9x compared to the previous quarter.… Continue
The Sui Southern Gas Company Limited (SSGC) today would like to clarify the misguiding news circulating in the media regarding the suspension of gas supplies to the industrial sector through a statement which says that the gas utility is not suspending regular gas supplies to the industries.… Continue
Mr. Zahid Mazhar, Chairman of All Pakistan Textile Mills Association, Southern Zone, has urged the Prime Minister of Pakistan, Mian Shahbaz Shareef and the Chief Minister of Sindh, Syed Murad Ali Shah, for their intervention to save the export-oriented textile industry of Sindh and Baluchistan from total closure due to denial of gas from November 15, 2022, to 28th February 0223.… Continue
foodpanda Pakistan recently launched a learning sprint for its employees ‘Inspiration Station’. A 2-week sprint consisted of panel discussions and talks from inspiring industry leaders and functional experts. The conversations ranged from the future of tech start-ups in Pakistan, to inspiring the inner leader in us, to motivating the Instantly Gratified generation, to working with a customer first mindset!… Continue
· The benchmark KSE-100 index started the week off poorly. The market started off in the red and proceeded to trade in the same range reaching an intraday low of 42,761.88 points due to lack of investors’ participation. Mainboard activity remained flat as the 3rd tier stocks continued to be the volume leaders.… Continue
Standard Chartered has donated a total of USD 249,000 towards emergency relief and rehabilitation of communities impacted by the recent floods that have caused large-scale devastation all over Pakistan. The selected partners are The Citizens Foundation and Orange Tree Foundation for immediate relief and British Asian Trust for rehabilitation.… Continue
The announcement from the Ministry of Finance last week that it will advise the State Bank of Pakistan and National Bank to withdraw their appeal against the Federal Shariat Court’s decree to convert to an Islamic financial system comes as a welcome step.… Continue
Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer, President Faraz-ur-Rehman, KITE Limited CEO Zubair Chhaya, Senior Vice President Nighat Awan and Vice President Muslim Mohammadi welcomed the appointment of renowned industrialist Zubair Motiwala as Chief Executive Officer of Trade Development Authority of Pakistan (TDAP).… Continue
One year after the commercialization of MineHarmony, Huawei announced the operating system has entered the stage of large-scale commercial use, as 5G+AI takes smart mining into a new phase. Speaking at Huawei Connect 2022, Ken Hu, Rotating Chairman of Huawei, emphasized the company’s dedication to working with partners to help industry customers choose the right technology for their needs – and make the most of it.… Continue
Fauji Fertilizer (FFC) held its corporate briefing today to discuss financial result and future outlook of the company.
The management expects Urea demand to hit 6.6mn tons in 2022 compared to 6.3mn tons recorded in 2021. However, DAP demand is expected to be down at 1.4-1.5mn tons compared to 1.9mn tons recorded in 2021 due to significantly higher prices.… Continue
To add immense excitement and celebration to the spirit of eSports, Pakistan’s No.1 LED TV brand, TCL Electronics, brings the biggest Football E-Gaming Event, “TCL Gamers League 2022,” with a massive prize pool of PKR 1.5 million. The registrations are now open for Lahore for which TCL is all set to conduct its Qualifier Round on 18th and 19th of November and Grand Finale on 20th of November at Packages Mall, Lahore.… Continue
Latest automobile sales figures show some relief post the resumption in production; sales are down by 36% YoY, the MoM numbers were up 22% to 13,369 units. This is a similar number to the post pandemic lockdown in Sep’20. Despite the prevailing auto-parts import curtailment measures on CKD units, plant production resumption in Oct’22 has led to the improved production of 13,021 units (down 36% YoY but up 39% MoM).… Continue
NdcTech was the only IT company from Pakistan to exhibit its offerings at Singapore Fintech Festival 2022. Sakina Tahir and Hiba Hashim were also participants in the FinTech Meet and Greet at the Pakistan High Commission in Singapore.
Singapore FinTech Festival is one of the largest FinTech festivals bringing together the global FinTech community to engage, connect, and collaborate on issues relating to the development of financial services, public policy, and technology.… Continue
The 11th edition of International Defence Exhibition and Seminar (IDEAS 2022) is scheduled from 15 – 18 November 2022 at Karachi Expo Centre. The event as per its traditions will showcase a number of splendid activities encompassing world’s advance defence technology demonstrations, international seminar, IDEAS Karachi Show, networking, and business expansions through B2B and B2G engagements.… Continue
The management of Avanceon Limited (AVN) held a corporate briefing session on 10th Nov’22 to discuss the company’s financial performance and future outlook.
- To recall, the company posted a profit after tax of PKR 1,732mn in 9MCY22 compared to PKR 572mn in 9MCY21, up by 3x YoY given higher exchange gain.
The market commenced on a positive note this week as the country is expected to get USD 13bn financing from China (USD 9bn) and Saudi Arabia (USD 4bn). The momentum carried on during the week as Saudi Crown Prince Mohammad bin Salman is expected to visit Pakistan on November 21st and may announce various investment projects.… Continue
On the world’s biggest shopping day, 11.11, AlfaMall, Bank Alfalah’s e-commerce marketplace for customers and merchants, has pledged a seamless user experience with its ‘Buy Now, Pay Later feature. This will enable customers to avail of zero percent markup and easy instalments of up to 18 months.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday lauded the decision of the Federal Government to introduce an interest-free banking system.
The Government will also withdraw two review appeals from the Supreme Court of Pakistan against the Federal Shariat Court (FSC) verdict on usury within the next few days, which has gone down very well with the business community, he said.… Continue
Jazz, jointly with its digital financial services JazzCash and sister concern Mobilink Microfinance Bank (MMBL) have been recognized as diversity and inclusion (D&I) champions across 7 markets globally by VEON, a global digital operator, during the Ignite Top 200 event held in Dubai.… Continue
Pak-Qatar General Takaful Limited (PQGTL) and Hefazat Technologies held an agreement signing ceremony on 14th October 2022 with an aim to introduce new products that will give customers greater flexibility in acquiring Takaful to protect their purchases in the event of an unfortunate incident.… Continue
A Huawei executive said on Thursday that information and communications technologies, or ICT, will enable the digitalization of industry, spark innovation and make other industries green. The remarks were made at a session organized by the Global Innovation Hub (UGIH) of the United Nations Framework Convention on Climate Change (UNFCCC) at the ongoing 27th Conference of the Parties, or COP27, in Sharm El-Sheikh of Egypt.… Continue
· Yet another positive day was witnessed at the PSX today. The market opened in the positive territory although lacklustre activity was noticed which led the index to lose 96.39 points at the close of the opening trading session. However, the benchmark KSE-100 did rebound once the trading resumed as investors resurfaced following the Finance Minister’s announcement of a $13 Billion package from China and Saudi Arabia.… Continue
Workers’ remittances recorded an inflow of US$2.2 billion during October 2022, says a statement issued by State Bank of Pakistan today.
During October 2022, remittances decreased by 9.1 percent on m/m and by 15.7 percent on y/y basis.
With the cumulative inflow of US$ 9.9 billion during Jul-Oct FY23, decreasing by 8.6 percent as compared to the same period last year.