Magazine Features

DP WORLD and IRENA partner to decarbonise ports, maritime and logistics sectors

DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector. Signed by IRENA Director-General Francesco La Camera and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem, the agreement focuses on identifying and implementing decarbonisation solutions across the sector.… Continue

Millions of people are fleeing abroad in search of work.

FPCCI’s presidential candidate, Atif Ikram Sheikh, said on Sunday that millions of people are leaving the country for employment abroad because Pakistan has almost no opportunities due to the economic downturn. He said workers, scientists, engineers, and IT experts are leaving the country due to desperation, which has threatened its economy. … Continue

Pak-Italy join hands for Olive Sector Development in Pakistan.

On World Olive Tree Day, the Pak Olive National Gala is being held in Islamabad to provide opportunities to explore Olive Sector Development in Pakistan. The event is being organized by “Promotion of Olive Cultivation on a commercial scale in Pakistan Phase-II” and the Italian-funded “OliveCulture-Holistic and Multi-professional Mechanism for a Pakistani Olive Oil Value Chain” project.… Continue

KSE100 gained 2,023 pts on the news of positive economic developments.

According to Spectrum Research, KSE100 gained 2,023 pts, closing at 59,086 fueled by positive economic developments, including the release of nest IMF’s tranche, government transfer of SOE assets to PSWF, government application submission for BRICS membership with Russian help, FDI up by 7% in first four month of FY24, CNDS achieving PKR715bn fresh bond target in 5MFY23.Continue

Capt. (Retd) Altaf Hussain Sario visits KCCI

President Karachi Chamber of Commerce & Industry Iftikhar Ahmed Sheikh presented the crest to Deputy Commissioner South Capt. (Retd) Altaf Hussain Sario during his visit to KCCI. Senior Vice President Altaf A. Ghaffar, Former VP Talat Hussain, KCCI Managing Committee Members and others are also seen in the picture.Continue

PAEL management aims to pay off all long-term debt within 3-4 years.

  • Due to gradual economic recovery and changing dynamics of import business in Pakistan, we have re-evaluated Pak Elektron (PAEL) after our detail discussion with the management.
  • We have revised our earning estimates based on (1) volumetric recovery in appliances division, (2) deleveraging & expected fall in interest rate, (3) better power division outlook, and (4) improved gross margins.

Mobilink Bank secures Best Bank for Inclusion Award at PBA 2023

Mobilink Bank won the prestigious Best Bank for Inclusion title at the Pakistan Banking Awards (PBA) 2023, held at Pearl Continental Hotel, Karachi, on Friday, November 24. The accolade highlights the Bank’s outstanding contributions in promoting inclusive financial practices, championing accessibility to banking services and demonstrating a commitment to serving a diverse clientele.… Continue

Economic conditions are difficult only for people and small traders.

Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said on Saturday that the prevailing economic conditions solely affect individuals and small business owners. Still, the circumstances are highly favourable to powerful companies. Under the guise of the IMF program, the entire burden has been placed on the people, while no responsibility has been placed on the rich, which is unjustified, he said.… Continue

Beaconhouse Jubilee Campus holds an event showcasing the sustainable fashion talent of its students.

The Beanconhouse School System, Jubilee Campus, in its pursuit to conserve the environment and promote a sustainable lifestyle, held an event to showcase the creative fashion accomplishments of its students fully based on recyclable material. The event held at the Jubilee Campus of the Beaconhouse School System marked the launch of “The Green Raiment,” the first-ever sustainable fashion brand launched by any school in Pakistan.… Continue

SECMC sows the seeds of sustainability in Tharparkar

Pioneering biodiversity conservation, sustainable agriculture, and fish farming ventures by Sindh Engro Coal Mining Company (SECMC) are spearheading transformative change in Tharparkar, uplifting communities through food security and livelihood generation.

The bio-saline agriculture initiative, launched in 2016, has successfully cultivated 16 edible plant varieties using underground saline water from the coal mines.… Continue

Two Pakistani Rhodes Scholars selected for class of 2024

Two exceptional students from Lahore, Asmer Safi and Iman Iftikhar, have won the prestigious Rhodes Scholarships for Pakistan this year. This year marks the Rhodes Scholarship’s 75th anniversary in Pakistan. The Rhodes Scholarship is the world’s preeminent and oldest graduate fellowship, based at the University of Oxford since 1903.… Continue

PSW) integrates with the International Plant Protection Convention Secretariat’s (IPPC) E-Phyto Hub.

The Pakistan Single Window (PSW) is proud to announce that it has successfully integrated with the International Plant Protection Convention Secretariat’s (IPPC) E-Phyto Hub. This integration marks a significant achievement for the paperless, global digital exchange for electronic phytosanitary certificates.

The PSW – ePhyto Hub integration will transform international agricultural trade for Pakistan.… Continue

MUGHAL has successfully achieved commissioning for its copper expansion project

Mughal organized its analyst briefing yesterday, and the following points were discussed:

· Company successfully completed its non-ferrous recycling plant from which the extracted ferrous component is proved to positively contribute to company’s performance.

· LC restrictions remained a big challenge for the company which negatively impacted their domestic supply chain throughout the previous year, with capacity utilization standing low at 35% during FY23.… Continue

Here’s what you need to know about the TikTok Challenges

TikTok has become a cultural hub in Pakistan, drawing in a diverse community that loves to share and connect. The app’s charm lies in its ever-evolving content, and each day brings new challenges that keep users engaged. Among the prominent most and influential faces of TikTok are Jannat Mirza, Zulqarnain Sikander, Areeka Haq, and Alishba Anjum, who not only entertain but also set the trends for the entire platform.… Continue

‘Made in Pakistan’ must be the inaugural post-independence slogan: KATI

In a powerful gathering organized by the Korangi Association of Trade and Industry (KATI), leaders advocate for the revitalization of the ‘Made in Pakistan’ initiative and urge government support for youth entrepreneurship. President of KATI, Faraz-ur-Rehman, delivered a passionate address, asserting that the initial slogan after Pakistan’s creation should have been “Maiden Pakistan.”… Continue

SBP’s reserves decreased by US$ 217 million

The total liquid foreign reserves held by the country stood at US$ 12,302.3 million as of 17-Nov-2023. The break-up of the foreign reserves position is as under:

  1. Foreign reserves held by the State Bank of Pakistan: US$ 7,180.0 million
  2. Net foreign reserves held by commercial banks    : US$ 5,122.3 million
  3. Total liquid foreign reserves                 : US$ 12,302.3 million

During the week ended on 17-Nov-2023, SBP’s reserves decreased by US$ 217 million to US$ 7,180.0 million due to debt repayments.… Continue

BankIslami empowers freelancers nationwide.

BankIslami Pakistan Limited proudly announces the signing of a Memorandum of Understanding (MOU) with The Pakistan Freelancers’ Association (PAFLA), marking a significant milestone in facilitating the burgeoning freelance community in Pakistan.

This collaboration aims to revolutionize financial services for freelancers, offering a dedicated Freelance Account Opening service.… Continue