Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer, President Faraz-ur-Rehman, KITE Limited CEO Zubair Chhaya, Senior Vice President Nighat Awan and Vice President Muslim Mohammadi welcomed the appointment of renowned industrialist Zubair Motiwala as Chief Executive Officer of Trade Development Authority of Pakistan (TDAP).… Continue
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
Fauji Fertilizer Company expects urea demand to hit 6.6mn tons in 2022
Fauji Fertilizer (FFC) held its corporate briefing today to discuss financial result and future outlook of the company.
The management expects Urea demand to hit 6.6mn tons in 2022 compared to 6.3mn tons recorded in 2021. However, DAP demand is expected to be down at 1.4-1.5mn tons compared to 1.9mn tons recorded in 2021 due to significantly higher prices.… 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.
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
AlfaMall offers zero percent markup on the world’s biggest shopping day
On the world’s biggest shopping day, 11.11, AlfaMall, Bank Alfalah’s e-commerce marketplace for customers and merchants, has pledged a seamless user experience with its ‘Buy Now, Pay Later feature. This will enable customers to avail of zero percent markup and easy instalments of up to 18 months.… 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
VEON recognizes its Pakistan-based operating companies as D&I champions
Jazz, jointly with its digital financial services JazzCash and sister concern Mobilink Microfinance Bank (MMBL) have been recognized as diversity and inclusion (D&I) champions across 7 markets globally by VEON, a global digital operator, during the Ignite Top 200 event held in Dubai.… Continue
Pak-Qatar General Takaful and Hefazat Technologies sign an agreement to introduce innovative General Takaful Products
Pak-Qatar General Takaful Limited (PQGTL) and Hefazat Technologies held an agreement signing ceremony on 14th October 2022 with an aim to introduce new products that will give customers greater flexibility in acquiring Takaful to protect their purchases in the event of an unfortunate incident.… 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
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Workers’ remittances recorded an inflow of US$2.2 billion during October 2022, says a statement issued by State Bank of Pakistan today.
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During October 2022, remittances decreased by 9.1 percent on m/m and by 15.7 percent on y/y basis.
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With the cumulative inflow of US$ 9.9 billion during Jul-Oct FY23, decreasing by 8.6 percent as compared to the same period last year.
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
ZONG collaborates with CreditBook to provide e-wallet services to their customers
Zong 4G, Pakistan’s leading telecommunication Network has joined hands with CreditBook, a prominent fintech start-up to provide their customers access to e-wallet services. This collaboration will allow Zong4G’s millions of customers to access CreditBook’s mobile wallet, send balance through the application and earn commission on each sale.… 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
Emirates Group announces record half-year performance for 2022-23
The Emirates Group today announced its half-year results for its 2022-23 financial year. The Group is reporting a 2022-23 half-year net profit of AED 4.2 billion (US$ 1.2 billion), a record half-year performance, and a turnaround of almost AED 10 billion from its AED 5.7 billion (US$ 1.6 billion) loss for the same period last year.… 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