MineHarmony enters stage of large-scale commercial use, with 5G+AI helping mining industry unleash digital

One year after the commercialization of MineHarmony, Huawei announced the operating system has entered the stage of large-scale commercial use, as 5G+AI takes smart mining into a new phase. Speaking at Huawei Connect 2022, Ken Hu, Rotating Chairman of Huawei, emphasized the company’s dedication to working with partners to help industry customers choose the right technology for their needs – and make the most of it.… Continue

Are you Ready? TCL gamers league is now coming to Lahore with the biggest pool prize of 1.5 M

To add immense excitement and celebration to the spirit of eSports, Pakistan’s No.1 LED TV brand, TCL Electronics, brings the biggest Football E-Gaming Event, “TCL Gamers League 2022,” with a massive prize pool of PKR 1.5 million. The registrations are now open for Lahore for which TCL is all set to conduct its Qualifier Round on 18th and 19th of November and Grand Finale on 20th of November at Packages Mall, Lahore.… Continue

Pakistan auto sales are down by 36% YoY, but the MoM numbers were up 22%

Latest automobile sales figures show some relief post the resumption in production; sales are down by 36% YoY, the MoM numbers were up 22% to 13,369 units. This is a similar number to the post pandemic lockdown in Sep’20. Despite the prevailing auto-parts import curtailment measures on CKD units, plant production resumption in Oct’22 has led to the improved production of 13,021 units (down 36% YoY but up 39% MoM).… Continue

NdcTech participates in Singapore Fintech Festival

NdcTech was the only IT company from Pakistan to exhibit its offerings at Singapore Fintech Festival 2022. Sakina Tahir and Hiba Hashim were also participants in the FinTech Meet and Greet at the Pakistan High Commission in Singapore.

Singapore FinTech Festival is one of the largest FinTech festivals bringing together the global FinTech community to engage, connect, and collaborate on issues relating to the development of financial services, public policy, and technology.… Continue

IDEAS 2022 is scheduled from 15 – 18 November 2022 at Karachi Expo Centre.

The 11th edition of International Defence Exhibition and Seminar (IDEAS 2022) is scheduled from 15 – 18 November 2022 at Karachi Expo Centre. The event as per its traditions will showcase a number of splendid activities encompassing world’s advance defence technology demonstrations, international seminar, IDEAS Karachi Show, networking, and business expansions through B2B and B2G engagements.… Continue

A review of Avanceon Limited

The management of Avanceon Limited (AVN) held a corporate briefing session on 10th Nov’22 to discuss the company’s financial performance and future outlook.

Brief Takeaways

  • To recall, the company posted a profit after tax of PKR 1,732mn in 9MCY22 compared to PKR 572mn in 9MCY21, up by 3x YoY given higher exchange gain.
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A review of PSX this week’s performance

The market commenced on a positive note this week as the country is expected to get USD 13bn financing from China (USD 9bn) and Saudi Arabia (USD 4bn). The momentum carried on during the week as Saudi Crown Prince Mohammad bin Salman is expected to visit Pakistan on November 21st and may announce various investment projects.… Continue

Govt move for interest-free banking system lauded: Mian Zahid Hussain

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday lauded the decision of the Federal Government to introduce an interest-free banking system.

The Government will also withdraw two review appeals from the Supreme Court of Pakistan against the Federal Shariat Court (FSC) verdict on usury within the next few days, which has gone down very well with the business community, he said.… Continue

Huawei calls for network evolution at COP27 to enable green development

A Huawei executive said on Thursday that information and communications technologies, or ICT, will enable the digitalization of industry, spark innovation and make other industries green. The remarks were made at a session organized by the Global Innovation Hub (UGIH) of the United Nations Framework Convention on Climate Change (UNFCCC) at the ongoing 27th Conference of the Parties, or COP27, in Sharm El-Sheikh of Egypt.… Continue

Yet another positive day was witnessed at the PSX today

· Yet another positive day was witnessed at the PSX today. The market opened in the positive territory although lacklustre activity was noticed which led the index to lose 96.39 points at the close of the opening trading session. However, the benchmark KSE-100 did rebound once the trading resumed as investors resurfaced following the Finance Minister’s announcement of a $13 Billion package from China and Saudi Arabia.… Continue

Workers’ remittances fall in October 2022

  1. Workers’ remittances recorded an inflow of US$2.2 billion during October 2022, says a statement issued by State Bank of Pakistan today. 
  2. During October 2022, remittances decreased by 9.1 percent on m/m and by 15.7 percent on y/y basis.
  3. With the cumulative inflow of US$ 9.9 billion during Jul-Oct FY23, decreasing by 8.6 percent as compared to the same period last year.
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KCCI, APC sign MoU for strengthening bilateral trade

The Karachi Chamber of Commerce & Industry (KCCI) has signed a Memorandum of Understanding (MoU) with Australia Pakistan Chamber of Trade, Commerce & Industry (APC) wherein the two Chambers have agreed to devise framework of cooperation and develop a number of actions aimed at further strengthening bilateral trade and relationship between Pakistan and Australia.… Continue

Chairman PNSC hosted an annual office lunch 2022

Rear admiral Jawad Ahmed (SI) M, Chairman PNSC, hosted an Annual Office Lunch for all PNSC employees on Thursday, November 10th, 2022. The event was also attended by Syed Faisal Ali Subzwari, Federal Minister for Maritime Affairs.

Federal Minister in his speech, encouraged the staff to keep up the good work and announced the Annual Bonus for employees along with other financial benefits that will be initiated by PNSC in future.… Continue

The business community demanded Charter of Economy

The industrialists and business community of Karachi held a joint press conference and demanded a Charter of Economy. Addressing the press conference held at the Korangi Association of Trade and Industry (KATI), President Faraz-ur-Rehman said that a conspiracy to malign Pakistan Army is unacceptable.… Continue

Easypaisa achieves milestone of half a million customers on In App Savings product

Pakistan’s leading digital first payments platform Easypaisa has achieved half a million customers for its savings product that was introduced 6 months ago. This is the most revolutionary savings product offered by any bank in the industry because without any paperwork and with just a single click in the Easypaisa App, customers can instantly subscribe to annual saving profit rates of up to 11%.… Continue

Syngenta Pakistan successfully pilots drone spraying services for local farmers

Syngenta Pakistan Limited, a leading agriculture innovation and technology company – providing crop protection, biologicals, seeds, crop-enhancement products and digital services to millions of Pakistani farmers, has successfully piloted Drone Spraying Services on approximately 5000 acres of local farmland. This is a first-of-its-kind initiative whereby such precision drone spray services have been provided by a crop protection company in Pakistan.… Continue

ChildLife signs MoU with Italian Hospital

A MoU signed between Istituto Giannina Gaslini, Italy and ChildLife Foundation. The Consulate of Italy, the Istituto Giannina Gaslini, largest pediatric care hospital in Northern Italy and ChildLife Foundation are promoting an important collaboration in the field of children health care with the objective of saving lives through better use of pediatric emergency rooms and telemedicine services.… Continue

Shell, Careem and Muawin collaborate for fuel management solutions

Shell Pakistan Limited collaborates with Careem and Muawin, to provide a dynamic fuel management solution for Careem Captains along with driving awareness on road safety standards.

By utilizing a personalized Shell Fleet Card financed by Muawin, Careem Captains can avail fuel on credit on numerous Shell retail sites across the country, thereby completing more rides and growing their income.… Continue