NdcTech displayed the largest global banking events in London

NdcTech, Pakistan’s leading IT and consulting company was invited to showcase its offerings as a Silver Sponsor at the Temenos Community Forum 2022, one of the most prestigious banking technology events held recently at the world’s financial city, London, UK. Ammara Masood, CEO and President of NdcTech and Asif Peer, CEO Systems Ltd were present at this international forum, alongside other key management

The event not only brought together banking professionals from across the globe, but also provided a huge opportunity to IT Service providers and Fintechs to showcase their offerings.… Continue

GROHE offers training young students as plumbers in Karachi

GROHE is a leading brand for complete bathroom solutions and kitchen fittings, which has now initiated its “GROHE Installer Vocational-Training & Education” (GIVE) Program in Karachi, as the first “GIVE school” in Pakistan has been established in The Hunar Foundation Premises, Delhi Mercantile Society Technical Institute, at Tariq Road.… Continue

National Foods to enrich its systems with SAP S/4HANA

One of the leading food brands in Pakistan; National Foods Limited (NFL) is further cementing its focus on innovation and high customer centricity by enriching its systems with SAP S/4 HANA. Joining the league of world class conglomerates, National Foods’ investment in this cutting-edge software shall enable the company to continue providing globally loved food products.… Continue

Mastercard strengthens leadership team to accelerate growth across MENA including Pakistan

Mastercard has reaffirmed its commitment to the GCC and wider region through the appointment of Mastercard veteran J.K. Khalil to lead its operations across the MENA East Cluster in his new role as Cluster General Manager.

In his new role, Khalil is responsible for the UAE, Qatar, Kuwait, Pakistan, and Oman, which make up Mastercard’s MENA East Cluster.… Continue

Gerry’s dnata recognised for high safety standards in Pakistan

Gerry’s dnata, Pakistan’s leading ground services provider, continues to be recognised for achieving the highest safety standards. The company obtained IATA Safety Audit for Ground Operations (ISAGO) Station Accreditation at Islamabad International Airport (ISB), following the successful completion of a comprehensive audit of its ground handling operations at the airport.… Continue

KSE-100 index dominated by the bulls today

·        KSE-100 index was dominated by the bulls today. Across the board rally was witnessed as Chinese consortium of banks signed an RMB 15 billion ($2.3 billion) loan facility agreement which resulted in recovery of Pak Rupee against USD. Volumes remained healthy across the board.… Continue

Meezan Bank plans to meet stringent security standards

Meezan Bank, Pakistan’s leading Islamic bank, attained Payment Card Industry Data Security Standard certification (PCI DSS v3.2.1) by Payment Card Industry Security Council (PCI SSC) through PCI QSA Firm – Risk Associates, a premier global information technology company.

This certification, which is a leading payment card data security standard, is another milestone in Meezan Bank’s journey towards implementation of data security and control systems that ensure customer security, sensitive card data protection and fraud risk prevention.… Continue

SBP reserves decreased by US$ 748 million

The total liquid foreign reserves held by the country stood at US$ 14,210.4 million as of 17-Jun-2022. The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan: US$ 8,237.7 million

Net foreign reserves held by commercial banks    : US$ 5,972.7 million

Total liquid foreign reserves                 : US$ 14,210.4 million

During the week ended on 17-Jun-2022, SBP reserves decreased by US$ 748 million to US$ 8,237.7 million mainly due to external debt repayments.… Continue

Hysab Kytab App aims to become an international brand

Hysab Kytab (Private) Limited, a Company of JBS in Pakistan, plans to make their digital product – Hysab kytab App, an international brand like Shan food products worldwide. The ambition strategy was shared by the Head of Hysab Ketab Mohammad Yasir Ilyas and Marketing Lead Ms Nosheen Naz of the Company to a select group of media people in Karachi today.… Continue

Lifebuoy launches free doctor consultation service nationwide in collaboration with Sehat Kahani

Lifebuoy soap joined hands with Sehat Kahani; a leading telehealth provider, to provide free doctor consultation across Pakistan at an exclusive signing ceremony held at Unilever Pakistan Head Office on 21st June 2022. This initiative stems from Lifebuoy’s lifelong purpose of saving lives by enabling and educating people on the importance of hygiene.… Continue

K-Electric ensured sustained power supply during first spell of pre-monsoon rain in Karachi

As Karachi received light to moderate rain on Wednesday evening, K-Electric ensured sustained power supply to the city. The utility’s team continued to remain vigilant and active throughout sporadic weather conditions and ensured the stability of its power supply network.

Areas with high incidence of theft and kunda usage were preemptively shut down temporarily in the interest of safety of the residents and the power was swiftly restored after receiving clearance from the ground team.… Continue

The Federal Budget is anomalies-ridden: FPCCI

Mr Shabbir Mansha, Acting President FPCCI, has expressed profound concerns about the glaring anomalies in the federal budget 2022 – 23. He added that we had noticed anomalies in custom duties, regularity duties, income tax and sales tax.

Mr. Shabbir Mansha noted that a turnover tax of 1.25 percent for traders, distributors and dealers is unbearable as profit margins are barely 2 percent in-market sales, and the turnover tax will continue to discourage SMEs from being registered in sales tax.… Continue

SMEDA & ITC sign MoU for rural advancement through SME development in Pakistan

The Small and Medium Enterprises Development Authority (SMEDA), under the patronage of the Ministry of Industries and Production (MOIP), has signed a Memorandum of Understanding (MOU) with the International Trade Center (ITC) to undertake joint activities for effective implementation of the EU-funded grant project; “Growth for Rural Advancement and Sustainable Progress” (GRASP)

GRASP is a six-year project designed to reduce poverty in Pakistan by strengthening small-scale agribusinesses in two provinces, i.e.… Continue

SBP asks banks to conserve energy – urged WFH

The State Bank of Pakistan, through BPRD Circular No. 02 of 2022, has informed the Presidents/ Chief Executives of All Banks/ DFIs/ MFBs to take the measures to conserve energy and fuel in the banking sector

 

  1. As you are aware, the Federal and Provincial Governments are taking several actions to address the prevailing energy situation in the country.
Continue

The fertilizer demand would amplify due to the upcoming Rabi season

The demand for fertilizer in the country remained strong in unbeatable markets from agriculture; currently, it contributes ~22% to total GDP, and during the last 20 years, its contribution

remained at ~19%.. The government targets agriculture growth of 3.9% for FY23 mainly due to recovery in cotton and wheat production, ample availability of water, certified seeds, and agriculture credit facilities.… Continue

Saudi Ambassador in Pakistan meets Asad Mehmood

The Ambassador of Saudi Arabia in Pakistan, Nawaf Bin Said Al-Maliki, called on Federal Minister of Communications and Postal Services, Mr Asad Mahmood, at the Ministry of Communications today. Federal Secretary Communications and Chairman National Highway Authority Capt (R) Muhammad Khurram Agha, along with senior officials of the Ministry of Communications and National Highway Authority, were also present.… Continue

PTCL, Huawei successfully deploys AirPON Solution

PTCL, the country’s premier Telecom and ICT services provider has successfully deployed AirPON Solution from Huawei Technologies, in its Fiber Access Network. AirPON is a unique and innovative Fiber-to-the-Home (FTTH) solution, that leverages existing cellular mobile network infrastructure to extend Fiber footprint, with improved Total Cost of Ownership and better Time to Market.… Continue

The agreement with the IMF is expected in a few days: 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 Wednesday said the government is constantly swallowing the bitter bullets of difficult decisions despite political difficulties while negotiating some conditions of IMF that include an increase in revenue target, implementation of petroleum levy and privatisation of sick government units.… Continue