The current account recorded a deficit of USD74mn

As per the latest data compiled by SBP in Feb’23, the current account recorded a deficit of USD74mn as compared to USD230mn in Jan’23, signifying an improvement of 68%MoM (USD156mn), while on a yearly basis, CAD fell by 14%YoY. During 8MFY23, the current account deficit was reduced by 68%YoY to USD3,861mn as compared to USD12,077mn in 8MFY22.… Continue

Textile exports impact due to a drastic drop in cotton.

Former Vice President of FPCCI Atif Ikram Sheikh on Monday said reduced cotton production is a great threat to the export sector, which is already crumbling under tough IMF conditionalities. He said the cotton crisis would hit the textile sector, responsible for most of the export earnings and catering for millions of jobs.… Continue

CEJ-IBA’s ‘Click! The Digital News Ideathon’ draws audiences looking to bypass mainstream or legacy news media Revenue opportunities

Nearly 150 beginner, intermediate, established, and aspiring content creators gathered at the Centre for Excellence in Journalism’s (CEJ-IBA) ‘Click! The Digital News Ideathon’ to learn how to monetise their content and diversify their revenue streams to sustain their platforms.

The event was organized by the CEJ-IBA in collaboration with Deutsche Welle Akademie (DW).… Continue

Neha Mankani named as U.S. Mission Pakistan’s 2023 “Woman of Courage”

U.S. Mission Pakistan Deputy Chief of Mission Andrew Schofer named Pakistani midwife Neha Mankani as U.S. Mission Pakistan’s 2023 “Woman of Courage” at an event commemorating Women’s History Month on March 20.

Mankani, an alumna of the U.S. government-funded Fulbright Program, established the Mama Baby Fund in 2019 to support new mothers who could not afford prenatal and postnatal care.… Continue

Bank Alfalah commits PKR 49 million to building schools in the Flood-Impacted Areas

Bank Alfalah, the biggest corporate donor for the flood-affected communities, has partnered with The Citizens Foundation (TCF) to fund the construction of a primary school in Asif Nagar in Nawabshah, Sindh, for PKR 49 million. Bank Alfalah’s contribution towards rebuilding schools is particularly noteworthy given that more than 25,000 schools have been damaged in Pakistan.… Continue

Pakistan and Russia discussed trade relations: KATI

Consul for Political and Economic Affairs in the Russian Consulate Dmitry Petrov says there are immense trade opportunities between Pakistan and Russia. Banking channels and other issues are being resolved in promoting bilateral trade. He expressed these views while visiting the Korangi Association of Trade and Industry (KATI).… Continue

Ericsson and MediaTek expand 5G deployment options for CSPs with flexible Carrier Aggregation solution

Ericsson and MediaTek have successfully merged four channels – one FDD (frequency division duplex) and three TDD (time division duplex)– to deliver a downlink speed of 4.36 Gbps, the highest known speed based on this band combination. This four-component carrier (4CC) aggregation combination will increase the 5G deployment options for communications service providers by blending different frequency bands.… Continue

Indus Motor has won multiple CSR Accolades.

The Professionals Network (TPN) honoured Indus Motor Company (IMC) with awards in multiple categories, for its exceptional contribution to the Global Goals, at the 12th International CSR Summit and Awards ceremony. The awards were presented at a ceremony by the Consul General of Malaysia in Karachi, Mr Herman Hardynata Ahmad, to IMC’s Asad Abdullah, Head of Corporate Communication & CSR.… Continue

A negative session was witnessed at PSX today.

· A negative session was witnessed at PSX today. The KSE-100 began positively, but bears quickly took over as the index lost steam and ended the session in the red, owing to the state’s economic and political uncertainties, plunging the index to an intraday low of 420.71 points.… Continue

WAPDA crowned 10th National Archery Champion 2023

WAPDA reigned supreme in archery as it was crowned National Archery Champion 2023. WAPDA won 10th DHA National Archery Championship with three gold, two bronze and one silver medals, while Pakistan Army finished as the runners-up with two gold, three silver and one bronze medals in the event.… Continue

First ever ‘Bankers Cup Cricket Tournament’ to begin at Naya Nazimabad in Ramadan

For the first time in the cricket history of Pakistan, major commercial banks will be participating in a cricket tournament that will be held this Ramadan at Naya Nazimabad. The management of Naya Nazimabad is organising the tournament as the ninth version of the renowned ‘Ramadan Cricket Tournament’ titled “Naya Nazimabad Bankers Cup 2023”.… Continue

United States sponsors an innovation expo in Islamabad.

The U.S. Embassy in Islamabad on March 19 concluded the “U.S.-Pakistan Innovation Expo” to showcase the success stories of U.S. government-sponsored Pakistani startups and to encourage further investment in them.  The two-day expo provided a platform for established startups to showcase their business ideas and prototypes, and network with potential U.S.… Continue

Tariq Glass Industries offers a potential upside of 36%.

Initiating coverage with a ‘Buy’: We initiate coverage on Tariq Glass Ltd (TGL), with a Buy rating and Dec’23 target price of PKR 97.0/sh, offering a potential upside of 36%. With the rising demand for glass products in Pakistan due to changing consumer preferences and rapid urbanization, TGL has recently doubled its Float glass capacity from 550TPD to 1,050TPD, which in our view will support a 4-year (FY23-27E)bottom-line CAGR of 16%.… Continue

IBA-CEJ to organize ‘Click! The Digital News Ideathon’

The Center for Excellence in Journalism at the Institute of Business Administration (CEJ-IBA), in collaboration with Deutsche Welle Akademie (DW), is organizing ‘Click! The Digital News Ideathon’. The event brings together well-known journalists and online content creators to share their thoughts and experiences through talks, panel discussions, breakout sessions, and networking opportunities.… Continue