Kohinoor Textile Mills Limited (KTML) held its analyst briefing yesterday, wherein the company management apprised of the following:
· To note, the company posted NPAT of PkR4.7bn in FY22, higher by 72%YoY, on the back of higher revenues during the period.… Continue
As per the latest data compiled by NFDC, in Oct’22, Urea offtakes declined by 16%YoY/15%MoM to 430k tons.
The Rabi 2022-23 season started with an opening inventory of 294k tons of urea. The total availability of urea would be around 3,494k tons comprising of 2,937k tons domestic production and 263k tons of imported supply.… Continue
Information Technology (IT) exports of Pakistan for October 2022 increased by 13% YoY to US$221mn due to an increase of 38%/8% YoY in Telecom/Computer services.
Export number also recovered by 7% MoM from September 2022 mainly due to a 42% MoM increase in Telecom Services.… Continue
U.S. Ambassador Donald Blome visited Quetta, Balochistan, on November 23 to meet with Chief Minister Abdul Quddus Bizenjo, local partners working to advance climate change adaptation, representatives of higher education institutions, leaders of local NGOs, and Afghan refugees. During his visit, Ambassador Blome discussed U.S.… Continue
· A range-bound session was witnessed at the PSX today. The market opened in positive zone but lack of investors’ participation plunged the index down into the red and continued to trade in the same zone for most of the trading session.… Continue
Huawei has signed a global commitment to join the International Telecommunication Union’s Partner2Connect digital alliance, which will bring connectivity to about 120 million people in remote areas in more than 80 countries by 2025.
Liang Hua, Chairman of Huawei, announced the decision at the company’s 2022 Sustainability Forum, Connectivity+: Innovate for Impact.… Continue
Mr. Irfan Iqbal Sheikh, President FPCCI, has called for immediate policy interventions and resolution of anomalies pertaining to tea imports. He has explained that tea should be considered a necessity &a basic food item for everyone – and, not a luxury; as is the case as per current practice at the import stage.… Continue
· Past four months have seen the demand for refined petroleum products drop by 21.6% majorly due to higher pump prices, impact due to floods and an overall economic slowdown.
· A 29.5% decline in POL product imports was witnessed as well in the first four months (Jul-Oct), compared to SPLY, as quantity imported stood at 6.06mn tons during the period vs.… Continue
SAP announced the launch of SAP Build, a powerful new low code offering to unleash the power of business users, launched at SAP TechEd conference in Las Vegas, USA, recently.
SAP Build empowers users of all skill levels to create and augment enterprise applications, automate processes, and design business sites with drag-and-drop simplicity.… Continue
The Overseas Investors Chamber of Commerce & Industry (OICCI) and the Pakistan Business Council (PBC) collaborated to host a design sprint on best practices needed to develop an effective Environmental, Social, and Governance (ESG) framework for Pakistan. The two-day workshop was facilitated by Unilever Pakistan Limited.… Continue
LUMS recently hosted the ‘Pakistan@75’ Summit curated by the South Asia Centre of the London School of Economics and Political Science. This collaborative event brought together over two hundred and fifty students, academics, industry professionals, and entrepreneurs to participate in a series of critical conversations around topics ranging from policy and philanthropy to health and the future of Pakistan’s economy.… Continue
Consul General of Malaysia Herman Hardynata Bin Ahmad has said that Malaysia and Pakistan, in addition to having several multilateral agreements as members of UN, OIC and D-8, had also signed 20 bilateral agreements including a Free Trade Agreement (FTA) but this 15-year-old FTA, which was inked in 2008, needs to be reviewed with a view to further improve the existing trade ties between the two brotherly countries.… Continue
foodpanda, one of the leading q-commerce and delivery companies in the country, has been recognised by the Employers’ Federation of Pakistan (EFP) as one of the ‘top 10’ organisations in the country facilitating women’s empowerment through its business.
The prestigious recognition comes as a part of EFP’s research across 250 organisations that practise and enable women’s empowerment.… Continue
Joint efforts of Government and stakeholders are essential for transforming the fisheries sector to address depleting fish stocks and economic prosperity; Mr Tameezuddin Khero, Secretary of Livestock & Fisheries, presides over NIMA’s Webinar
The fisheries sector of Pakistan has a lot of potentials; however, it can be developed with the active support of all stakeholders, including Federal and Provincial Governments.… Continue
The Oil and Gas Development Company Limited (OGDCL), under its CSR program, has distributed 20 wheelchairs, five rickshaws and 1021 school uniforms and shoes among Hindu community members in the Tharparkar district of Sindh province.
As a responsible corporate entity, OGDCL distributed the wheelchairs, rickshaws, school uniforms and shoes worth PKR 2.4 million from the company’s CSR funds at the request of the Pakistan Hindu Council (PHC).… Continue
Despite macroeconomic and geopolitical challenges, KE is confident in serving its customers in a reliable and efficient way through a comprehensive, multi-pronged strategy. These comments were made by KE’s Chief Financial Officer Muhammad Aamir Ghaziani at a Corporate Briefing Session held at the Pakistan Stock Exchange (PSX) on Tuesday.… Continue
The Ambassador of Kingdom of Morocco Mohamed Karmoune has said that the existing trade volume was not enough so Morocco and Pakistan need to do more through enhanced interaction between the Chambers of Commerce and the business communities with a view to improve trade volume between the two brotherly countries.… Continue
Under its social responsibility banner, “Concern Beyond Cars”, Indus Motor Company Limited (IMC) and NED University of Engineering & Technology (NED) have partnered to improve the deteriorating condition of safety on roads in the country. The two year contract was signed by IMC Chief Executive, Ali Asghar Jamali and NEDs Registrar, Ghazanfar Hussain, at the company’s headoffice.… Continue
Spotify hosted its first Masterclass in Pakistan, exclusive to artists and labels, with the aim to educate them about Spotify For Artists. The signature educational session shed light on avenues for artist development offered through Spotify where musicians have access to the data, tools, and knowledge that they require to facilitate their journey of raising their profile and finding fans across borders.… Continue
Free Fire Pakistan has released a live action music video featuring cricket superstars Babar Azam, Shadab Khan, Shaheen Afridi and Shoaib Malik as superheroes. The veteran and the Runner ups for the T20 World Cup have been in the limelight for their heroics on and off the field and befittingly feature as Superheroes in this action packed film.… Continue
S&P Global Pakistan (S&P Global) has successfully mentored more than 12,000 women as part of its pledge to mentor 20,000 under the U.S.-Pakistan Women’s Council’s (USPWC) Pakistan Million Women Mentors (PMWM) Initiative.
The company announced this milestone during an event co-hosted by the U.S.-Pakistan… Continue
· A positive session was witnessed at the PSX today. Due to the inclusion of 4 companies of KSE-100 index in Morgan Stanley Capital International (MSCI) Frontier Market Pakistan. The KSE-100 Index opened in a positive zone and while driven by the bulls gained 315 points.… Continue
Pakistan’s monthly CAD has increased to USD567mn in Oct’22, up 56% MoM primarily due to decline in remittances and imports. However, CAD has reduced significantly on YoY basis from USD1.78bn in Oct’21. This is due to administrative measures to curb non-essential imports and reduced energy imports, lowering the trade deficit to USD2.3bn (-35% YoY and -3% MoM).… Continue
Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry Zubair Motiwala has said that Pakistan needs to increase the exports but it was not happening at all as the exports have been constantly declining because of unavailability of gas to the industries.… Continue
A new joint guide by ACCA (the Association of Chartered Certified Accountants) and the International Federation of Accountants (IFAC) released at the World Congress of Accountants (WCOA) aims to boost PFM reforms across the globe by defining for the first time the idea of professionalisation specifically in the context of public sector finance.… Continue