Lucky Cement Limited announced that it had won the NFEH’s 15th Corporate Social Responsibilities Awards 2023 in the “Green Energy Initiatives” category. This award recognises the company’s unwavering commitment to sustainable development and reducing its carbon footprint through implementing renewable energy solutions in its operations.… Continue
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
Pakistani exporters should tap the potential to export to the emerging European economy of Lithuania:FPCCI
Pakistani exporters should tap the potential to export to the emerging European economy of Lithuania Mr. Suleman Chawla, Acting President FPCCI, has proposed that Pakistani exporters should tap the potential to export to the emerging European economy of Lithuania in the Baltic Region.… 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
Emirates embraces the spirit of the Holy Month with a thoughtful passenger journey
With the Holy Month of Ramadan expected to begin this week, Emirates is preparing thousands of Iftar meal boxes for fasting passengers both onboard and at boarding gates, an array of religious content and Ramadan series on ice, and traditional Ramadan refreshments and meals in the lounges.… 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
HABIBMETRO celebrated women’s day to “Embrace Women, Embrace Equity”
HABIBMETRO BANK, held a grand event in celebration of International Women’s Day on March 13, 2023, at Area 51, Karachi. The event, which was themed “Embrace Women, Embrace Equity,” aimed to empower and showcase the talent and potential of women in all aspects of life.… 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
Al-Shifa Trust announces “Vision 2028” expansion plan.
The Al-Shifa Trust President, Maj. Gen. (Retd) Rehmat Khan has said that due to the increase in diabetes, and unawareness, the number of eye patients is increasing significantly in Pakistan. Therefore, we have planned to double our capacity over the next five years to serve the masses better.… 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
The restrictions on imports have adversely impacted auto assemblers in Pakistan.
· The restrictions on imports have adversely impacted auto assemblers, leading to delays in opening of LCs along with the clearance of CKD kits from ports, due to which auto assemblers are facing frequent plant shutdowns.
· In CY23 auto assemblers have hiked their prices for the 4th time culminating to an increase of more than ~35% on average.… 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
Jinnah Cultural Complex located in the New Karachi inaugurates.
Arts Council of Pakistan Karachi has crossed another milestone, Arts Council of Pakistan Karachi (District Central) Jinnah Cultural Complex was grandly inaugurated by Governor Sindh Kamran Tessori along with President Arts Council Muhammad Ahmad Shah and members of the governing body.… Continue
Aga Khan University graduates 777 students, celebrates founder’s day and 40th anniversary
The Aga Khan University on Saturday celebrated the graduation of the Class of 2022, its first-ever Founder’s Day and the University’s 40th anniversary. Simultaneous ceremonies were held in Pakistan, Kenya, Tanzania and Uganda and broadcast online to an international audience of AKU’s friends and supporters.… Continue
Pakistan textile exports for Feb-23 declined 11% MoM to US$1.18bn
Pakistan Textile exports for Feb-23 clocked in at US$1.18bn, down 11% MoM. In PKR terms, exports clocked in at Rs315bn up by 2% MoM.
Value-added textile exports decreased by 13% MoM to US$812mn mainly due to Readymade Garments and Knitwear declining by 13% and 18% MoM respectively.… Continue
Carbon Exchange Bank – A dire need of the country, Lasbela Chamber
A Carbon Exchange to deposit the carbon credits, the industries earn, is a dire need for Pakistan, said Mr. Ismail Suttar, President of Lasbela Chamber of Commerce and Industry while addressing the Workshop on “Towards Zero Emissions: Sustainable Industry and Climate Action”.… Continue
Trip to Pakistan: challenges and solutions
By Muhammad Sadiq
During my recent visit to Pakistan (Lahore), I went to the neighborhood where I grew up. I was so happy to see how it has changed over the last 25 years. When I was growing up, most residents in these apartments had a bicycle.… 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