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 cheap electricity is essential to improve the standard of living of masses.

Affordable electricity boosts industrial and agricultural production and makes services cheap, which helps the masses improve their lives.… Continue

Zubair Tufail President, Zafar Bakhtawari, Secretary-General, Dr Mirza Ikhtiar Baig Secretary Information, other leaders and members of UBG on Executive Committee of FPCCI 2021 have sharply reacted to the Sindh Government decision to imposing a weeklong lockdown in Karachi, which is a commercial and economic hub of Pakistan.… Continue

· Disregarding the stringent COVID lockdown conditions, the KSE100 index performed well today, adding a total of 453pts during the session and closed the session on that note (unadjusted). Traded volumes remained thin in comparison with daily traded volumes. Activity was tilted towards Technology and Textile sectors, which was mainly due to the ascend in PKR parity against USD, climbing 163 in the kerb market.… Continue

The Board of Directors of Arif Habib Limited (AHL) on Monday announced the financial results for the year ended June 30, 2021, with the Company posting a profit of PKR 2.084 billion, its highest ever profit in history.

The BOD declared a final cash dividend of PKR 10 per share i.e.… Continue

Pakistan Petroleum Limited (PPL) has issued a recruitment advertisement to seek applications for appointment of Chief Executive Officer. PPL is one of Pakistan’s largest publicly traded oil and gas producers. The Company’s Board is seeking a Chief Executive Officer to lead the organization.… Continue

According to Bahria Maritime Services (Pvt) Ltd, the shipping agents of barge Heng Tong 77 in Pakistan, the ground preparation and mobilization of heavy machinery to pull the vessel from the sand of Seaview beach in Karachi would start from tomorrow.… Continue

The All Pakistan Customs Agents Association North Zone organized a function in Lahore to honour the country’s leading business personalities and central leaders of the United Business Group to discuss the country’s conditions and business difficulties. At the reception, Senior Vice Chairman APCAA, Arshad Jamal thanked all the distinguished guests and said that at present, the country has gone through a very difficult period and especially the business situation is extremely difficult.… Continue

As per the vision of the Prime Minister of the Islamic Republic of Pakistan, Mr Imran Khan, and on the Federal Minister for Communications and Postal Services Mr Murad Saeed, the National Highway Authority (NHA) has launched an Afforestation campaign under Clean and Green Pakistan program.… Continue

Offering customers exciting discounts, Pakistan’s cellular and digital services leader, Zong, has introduced an unbeatable WhatsApp offer for MZA users as part of its newly launched flash sale on My Zong App.

Under the promotion, Zong subscribers can now get a massive 35% off on the popular WhatsApp offer if they subscribed via My Zong App.… Continue

Korangi Association of Trade and Industry (KATI) President Saleem-uz-Zaman said that maintaining business and industrial process during the current Corona virus epidemic is a major challenge and wise steps have been taken at federal and provincial levels to address it. The government and the industrialists can come up with a joint strategy to ensure uninterrupted production in the industries.… Continue

Special Assistant to Prime Minister Mahmood Moulvi visited Dredger Minhal at Chinna Creek. Chairman KPT was also present.SAPM was informed that dredging of around 50,000 cm has been done since February this year.… Continue

Karachi is set to observe a more stringent lockdown in place next week to contain the highly contagious delta variant of the novel coronavirus, and it appears the market may remain upwards sticky in the short term. Albeit, with the result season commencing, and cyclicals expected to post a robust jump in earnings on a YoY basis (given a nation-wise lockdown was enforced in 2Q last year), certain select stocks may come under limelight.… Continue

HBL held their Analyst Briefing call today to discuss the financial performance and outlook of the bank. To recall HBL reported 2QCY21 NPAT of PKR9.3bn (EPS: PKR6.35), up 12%qoq but lower by 16%yoy. This took 1HCY21 NPAT to PKR17.6bn (EPS: PKR12.04) up 17%yoy.… Continue

HBL held their Analyst Briefing call today to discuss the financial performance and outlook of the bank. To recall HBL reported 2QCY21 NPAT of PKR9.3bn (EPS: PKR6.35), up 12%qoq but lower by 16%yoy. This took 1HCY21 NPAT to PKR17.6bn (EPS: PKR12.04) up 17%yoy.… Continue

Fauji Fertilizer Company Ltd (FFC) has posted unconsolidated 2QCY21 NPAT of PKR3.62bn (EPS: PKR2.85), down 26% yoy. The result is below our expected EPS of PKR3.61, where the only deviation came from the unwinding of GIDC liability. The result is accompanied by an interim cash dividend of PKR2.60/sh (we expected PKR2.75/sh).… 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 Friday said the sugar industry is facing harmful and destructive propaganda, which is also reflecting in critical decisions by authorities.… Continue

The Arts Council of Pakistan Karachi decided to shut down all their cultural activities and academies, including theatre, dance, music, and art institute, till an indefinite period due to the critical condition of covid-19, Ahmed Shah stated.

The Corona epidemic is intensifying these days.… Continue

Chairman Businessmen Group (BMG) and Former President Karachi Chamber of Commerce & Industry (KCCI) Zubair Motiwala, who attended the provincial coronavirus taskforce meeting at CM House on Friday, said, “We strongly opposed the lockdown strategy to deal with the pandemic as we believe that the only workable solution for minimizing the number of covid cases is to forcefully get the people vaccinated and ensure strict implementation of SOPs instead of imposing lockdown.”… Continue

With Pakistan and other Southeast Asian countries currently grappling with a surge in COVID-19 cases, Google today announced a total commitment of USD$7.5 million in new grant funding and other support to help alleviate the current pandemic crisis.

As part of this new commitment, Google.org… Continue

Systems Limited, Pakistan’s leading information technology consulting and services company, has achieved the prestigious Microsoft Business Applications 2021/2022 Inner Circle award. Membership in this elite group is based on sales achievements that rank Systems Limited in the top echelon of Microsoft’s Business Applications global network of partners.… Continue

realme, the world’s fastest-growing smartphone brand, will introduce Android’s first magnetic wireless charging MagDart ​​on realme Magnetic Innovation Event on Tuesday, August 03 at 12:00 PM UTC (05:00 PM Pakistan Standard Time). 

MagDart will be the world’s fastest magnetic wireless charging, bringing magnet wireless charging to a fast charging era.… Continue

· With the optimism of deferring the COVID lockdown, the market added 330pts earlier in the session today, however, government’s decision to impose strict lockdown in the face of rising COVID cases eroded all the earlier gains and caused the Index to tumble and close -257pts.… Continue

According to Karachi Port Trust (KPT), the operation for de-bunkering of barge Heng Tong 77 was completed successfully at 8.00 PM yesterday by a private contractor. Approximately 92.50 tonnes of bunker oil out of 118 tonnes was de-fuelled, added by the shipping agents of owners in Pakistan.… Continue

HCAR reported a NPAT of PKR928mn (EPS: PKR6.50) for 1QMY22, vs. a net loss of PKR511mn (LPS: PKR3.58) SPLY but up 4% qoq, where the yoy comparison is distorted by complete lockdown in 1QMY21. This is an impressive result from HCAR, despite lower volumes (down 5% qoq), and has clocked in higher than our expected EPS of PKR5.88, mainly due to much higher-than-expected gross margins and lower Opex.… Continue