Information Technology (IT) exports of Pakistan for August 2022 increased by 14% MoM to US$227mn but remained flat when compared to same period last year (SPLY). It is also down 13% from its peak of US$260mn seen in March 2022. The 2MFY23 IT exports were recorded at US$426mn, almost flat compared to the SPLY.… Continue

Telenor Pakistan has entered a strategic partnership with Convex Interactive to offer a Unified Communication Platform – Telenor Engage to enable businesses to manage customer interactions and communications. The signing took place at the 22nd ITCN Asia Conference in Karachi on 25, August 2022 with members of both organisations present.… Continue

According to NFDC, Urea sales in Aug’22 witnessed a slight recovery in sales, although down 15% compared to last year to c.552,000 tons (slump in Jul’22 was 26%). Sequentially, urea offtake recovered owing to i) normalized production post-breakdown of both FFC and EFERT in Jul’22, and ii) seasonality factor.… Continue

Samrah Enterprises, a distribution company that recently paved its way into the packaging sector in Pakistan has successfully exported its first shipment of the popular brand Fresh-St! to the Gulf market. The consignment of frozen food products includes mixed vegetables, potato fries, sweet corn, Broccoli, garden peas, and salted / unsalted butter packaged in variety of sizes.… Continue

Emirates, the world’s largest international airline, has launched an exciting new offer for holidaymakers planning a trip to Dubai between 22 September and 8 December 2022. From today, all Emirates customers can now enjoy a complimentary ticket to the Museum of the Future – one of the city’s most famous landmarks.… Continue

EVAM announced that its deployment at Jazz has been completed successfully. With this partnership, Jazz, Pakistan’s number one 4G operator and the largest internet and broadband service provider, utilized EVAM to improve and personalize customer interactions and services for its more than 75 million customers.… Continue

By Dr. Muhammad Nawaz Iqbal

For the first time, the size of Pakistan’s economy topped $300 billion. Although there are no official statistics on the value and volume of the paint and coatings business in the nation, most players estimate that it is worth PKR 37 billion.… Continue

As per the Dawn news today, pharmaceutical industry has agreed to partially resume the production of Paracetamol after the manufacturers of the local Active Pharmaceutical Ingredients (API) decided to reduce the cost of raw materials by 10%.

To note, country witnessed shortage of Paracetamol as companies had temporarily stopped production due to higher cost of production resulting in lower margins. … Continue

· The market remained under pressure throughout the day as investor’ participation remained left and right. PSX opened in the positive zone but traded in a range equally during both the sessions. The continued parity of Pak rupee against US dollar, political and economic uncertainty kept the investors on the sideline.… Continue

Mobilink Microfinance Bank Limited, VEON’s financial services arm and the largest digital bank in Pakistan, launched three major microfinance initiatives as part of its continuing efforts to financially empower women entrepreneurs and to support small and medium-sized farmers in the country.… Continue

The Karachi Port Trust handled 81,882 tons of cargo comprising 54,295 Tones of import cargo and 27,587 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 54,295 comprised of 16,977 Tons of Containerized Cargo, 17,787 Tons of Bulk Cargo, 2,669 Tons of Rapessed, 5,130 Tons of Urea, 3,401 Tons of Wheat & 8,331 Tons of Oil & Liquid Cargo.… Continue

The floods in Pakistan, as a result of record monsoon rains and melting glaciers in the northern part of the country, have been described as the worst ever. The death toll is in the thousands, mostly children and the elderly losing their lives.… Continue

As part of the national plan of providing maximum relief to over 33 million flood-affected people across Pakistan, چ has pledged to donate 100 tons of tea to one million families displaced by the devastating floods. The relief assistance will be provided through its partner NGOs, Indus Hospital, The Citizens Foundation Al-Khidmat Foundation, and Roshan Academy, ekaterra said in a press release issued here on Tuesday.… Continue

The United States, through the U.S. Agency for International Development (USAID), today announced an additional $30 million in life-saving humanitarian assistance to support people and communities affected by severe flooding in Pakistan. Pakistan’s government has declared the floods a national emergency, with 66 districts declared to be “calamity hit.”… Continue

 Power generation went down by 9.8% YoY to 14,151 GWh (19,020 MW) during Jul’22, compared to 15,680 GWh (21,075 MW) during Jul’21. The decline in the generation was owed to lower generation from FO, RLNG, and Coal by 46%, 32%, and 24% YoY, respectively.… Continue

The Board of Directors of National Bank of Pakistan “NBP” “the Bank” met yesterday to approve the condensed interim financial statements for the six months period ended June 30, 2022. With volumetric growth in average earning assets coupled with positive rate variance, NBP recorded 66% growth in gross interest income that reached PKR 179.4 Bn as against PKR 108.0 Bn for the same period last year.… Continue

Huawei Cloud Pakistan signed an MOU with ORA Global Development Advisors Pvt. Ltd.at the formers Islamabad Headquarters. Present at the occasion was CEO ORA Global, Ms. Fiza Farhan, Managing Director Huawei,Mr. Gao Weijie, CEO Huawei Cloud, Mr. Shahzad Rasheed, along with other representatives from both sides.… Continue

ChildLife Foundation has organized medical camps to provide quality treatment to the flood-affected children of Balochistan. The first such camp was set up in the district headquarters hospital (DHQ) of Dera Allah Yar in the Jaffarabad District on August 13. ChildLife sent a team of child specialists to the camp for a full day.… Continue

If you still haven’t bought the all-new TECNO Camon 19 Neo, then here is your chance. Do not miss out on some of the best camera features available in the market for only PKR 37,999.

With the highly praised global launch of the Camon 19 series, the brand launched Camon 19 Neo in Pakistan last month.… Continue

Karachi Chamber of Commerce and Industry (KCCI) accused the apathy of all the political parties for the current pathetic economic situation in Pakistan. Chairman Businessmen Group Zubair Motiwala and President KCCI Muhammad Idrees expressed concerns as they felt that political parties are not understanding the gravity of the situation of the economy and the repercussions on the future of the country.  … Continue

Habib Bank Limited (HBL) announced consolidated earnings of Rs3,494mn for 2Q2022 translating into an EPS of Rs2.32 down 63% YoY and 59% QoQ. Alongside the result a dividend payout of Rs1.50/share was also announced bringing total payout for the year thus far at Rs3.75/share.… Continue

Huawei Consumer BG held a Flagship Products Summer Launch Event in Dubai; showcasing a new lineup of flagship devices including the ideal flagship foldable phone HUAWEI Mate Xs 2, a flagship laptop HUAWEI MateBook X Pro, a flagship tablet HUAWEI MatePad Pro, HUAWEI FreeBuds Pro 2 as well as HUAWEI MateBook 16s and HUAWEI MateBook D16.… Continue

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 constant appreciation of the dollar can bankrupt Pakistan like Sri Lanka so all possible steps should be taken to contain it.… Continue

·        The benchmark KSE-100 index witnessed sluggish session. Investor’s participation continued to remain dry due to concerns regarding rate hike in the upcoming monetary policy and PKR depreciation against the dollar. Main board activity remained dull but decent volumes were recorded in the 3rd tier stocks.… Continue

·        The market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy. The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking. Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.… Continue