ILMA University, Noman Group of Companies & Federal Investigation Agency (FIA) inked MoU at a ceremony held at the university’s main campus in Karachi. The MoU was signed by the Director FIA, Mr. Shakeel Durrani, and the VC of ILMA University, Prof.… Continue
Exporters concentrate on the African market, a bigger market than Europe, KATI
Chairman of Pakistan Southern African Trade Federation (PSATF) Muhammad Rafiq Memon has said that most of the Pakistani exporters are focusing on exports to Europe and America. India has increased its activities in African markets. Pakistani investors take advantage of the opportunity in African countries. … Continue
Ufone 4G, and ConnectHear join hands to enable easy access for the Deaf Community in Pakistan
Pakistani cellular company, Ufone 4G and ConnectHear, a social enterprise aiming to enable and empower persons with disabilities, have collaborated to improve accessibility for the deaf community to enhance their socioeconomic integration. Amir Pasha, Group Director PR, Media, CSR and Corporate Communication, PTCL & Ufone 4G, and Arhum Ishtiaq, Co-founder/CTO ConnectHear signed the agreement here in Islamabad. … Continue
French delegation visited NIMA Head Office.
A four-member French delegation led by Col Philippe Deponcelle, visited NIMA Head Office Islamabad on 17 March 2023. The delegation comprised Col Nicolas Dean of COSA, DA France in Islamabad, Col Jérôme Mancel (incoming DA France) and Mr. Guillaume Gandelin, desk officer French MoD.… Continue
Corporates and financial houses focus on agriculture: PAC agri conference resolutions
Agriculture is now center stage as the sector that can help salvage the economy by wiping out Pakistan’s trade deficit, said former Governor State Bank Syed Salim Raza. Leading corporates, business houses, and financial institutions congregated at Pakistan Agricultural Coalition’s inaugural Agri-Connections 2023 conference and exhibition which was attended by over 275 leaders of industry, finance, government, donors, academia/international experts, global investors and the farming community.… Continue
Alibaba Group’s Daraz facilitates the donation of around US$320,000 for flood relief efforts in Pakistan
In response to the devastating floods that hit Pakistan last year, Daraz has announced that it will facilitate a donation of around US $320,000 from its China-based parent company Alibaba Group to support efforts to rehabilitate communities affected by the disaster.… Continue
One hundred and seventy countries do not need IMF: Mian Zahid Hussain.
On Friday, the Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said it is not IMF debt that brings countries out of the crisis but good leadership.… Continue
Delay in IMF loan hurting sentiments at PSX today.
· To cap off the business week, the PSX recorded a negative session. The market opened in the negative zone but continued to trade both ways during the opening session, as the anticipated SLA agreement between the government and the IMF was prolonged.… Continue
Jazz invested PKR 52 billion to expand & upgrade its network in FY22.
Despite a 24.3% YoY growth in overall revenues in local currency, Jazz’s revenue decreased 2.6% in USD terms during the fourth quarter of 2022, mainly due to PKR devaluation. In contrast, the margins are hampered by an exponential increase in operational costs, including fuel, electricity, interest rate and forex.… Continue
PNSC to get very low sulphur fuel oil for its vessels
In pursuance to explore avenues for a reduction in operational costs of the corporation, a Memorandum of Understanding (MOU) was signed between Pakistan National Shipping Corporation and ENAR Petroleum Refining Facility on March 16, 2023.
ENAR Petroleum and Refining Facility will provide Very Low Sulphur Fuel Oil (VLSFO) for PNSC vessels.… Continue
KE safety week reaffirms employee commitment to Karachi
KE recently concluded its annual Safety Week for 2023, a company-wide exercise focused on creating awareness regarding the importance of safety at the workplace and homes. This year’s theme of “Hifazat Muqaddam apnay liye aur Apno ke liye” reiterated the company’s commitment towards ensuring the best safety practices in their behavior and operations in the interest of its customers.… Continue
Mastercard to partner with Digitt+ to promote financial inclusion
Aktkar Fuiou Technologies (AFT) has signed an agreement with Mastercard marking its commitment to participate in the Mastercard Community Pass Program. Digitt+, Pakistan’s first regulated agri-fintech company, powered by AFT, intends to connect untapped agricultural markets with digital payment solutions and become the first entity to launch Mastercard Commerce Pass in Pakistan.… Continue
7th PARCO T20 Cup: OGDCL emerging as champions of the tournament
The 7th edition of Pak-Arab Refinery Ltd. (PARCO) T20 Cricket Tournament reached its conclusion with an exciting final between Oil and Gas Development Company Ltd. (OGDCL), and Pakistan State Oil Ltd. (PSO) at Moin Khan Academy, Karachi. The much-anticipated match saw a thrilling display of cricketing talent and sportsmanship from both sides, as they battled it out to claim the coveted trophy.… Continue
No society can develop without the participation of women, Faraz-ur-Rehman.
Pakistan Business Group (PBG) Patron-in-Chief Faraz-ur-Rehman has said that no society can develop without the participation of women. Half of the total population of Pakistan consists of women. Economic crisis can be countered if women’s full potential is utilised. He expressed these views while addressing the ceremony organized on the occasion of International Women’s Day.… Continue
IoBM student Asad Ali Memon sets his sights on Mount Everest.
Asad Ali Memon, a student at the Institute of Business Management (IoBM) in Karachi, has made waves in the climbing world by becoming the youngest Pakistani to summit several of the world’s highest peaks. With the support of IoBM and other corporate organisations, Asad is now setting his sights on the ultimate prize: Mount Everest.… Continue
ABHI to provide AbhiSalary (Earned Wage Access) for Naveena Group for its 5000 Employees
ABHI, an embedded fintech company, has signed an agreement with Naveena Group and its subsidiaries to provide AbhiSalary, an Earned Wage Access facility, to their 5,000 employees. AbhiSalary will financially empower the group’s workforce by enabling them to access their earned salaries before their payday and be free to spend, save and invest with their salaries.… Continue
Google Developers and Women Techmakers celebrate International Women’s Day.
Google Developers Group Islamabad and Women Techmakers Islamabad jointly hosted a conference to mark International Women’s Day (IWD) on the theme “Dare To Be.” The conference was a resounding success, featuring valuable insights from talented tech women and the industry’s brightest minds.… Continue
A range-bound session was recorded at the PSX today.
· A range-bound session was recorded at the PSX today. The market opened in the green zone and traded within a narrow range throughout the day, reaching an intraday high of 244.99 points as investors await the government and IMF to reach an SLA between the government and IMF.… Continue
SBP’s reserves increased by US$ 18 million to US$ 4.319 billion
The total liquid foreign reserves held by the country stood at US$ 9,846.8 million as of 10-Mar-2023. The break-up of the foreign reserves position is as under:
- Foreign reserves held by the State Bank of Pakistan: US$ 4,319.1 million
- Net foreign reserves held by commercial banks : US$ 5,527.7 million
- Total liquid foreign reserves : US$ 9,846.8 million
During the week ended on 10-Mar-2023, SBP’s reserves increased by US$ 18 million to US$ 4,319.1 million.… Continue
PNSC signs MoU to carry edible oil from Far-East to Pakistan
Today, Pakistan National Shipping Corporation (PNSC) signed a Memorandum of Understanding (MoU) with the M/S IMGC and Waheed Group of Industries consortium to transport edible oil from the Far East to Pakistan.
Every year Pakistan imports edible oil for more than 3 billion USD, of which a substantial portion is paid on account of freight charges in USD.… Continue
Pakistan can import cheap food items from India.
Pakistani elites consider trade with India as a death knell for their interests. Still, importing cheap food items from India will reduce inflation in Pakistan and provide relief to the people, but this is not acceptable to the establishment. People could buy onions and tomatoes at Rs250 per kg, but importing these items from India at Rs40 per kg cannot be allowed because it will hit the interests of our hoarders and profiteers.… Continue
Alibaba.com highlights the value of export e-commerce at the Textile Asia
Alibaba.com, a leading platform for global business-to-business (B2B) trade, has concluded its participation as Gold Sponsor in the 24th edition of South Asia’s leading textile trade show, Textile Asia International Trade Fair. Held at the Karachi Expo Centre from 10-12 March, the event brought together textile industry experts and businesses from around the world in Pakistan to explore the latest trends, challenges and opportunities in the textile sector.… Continue
TCL Global Education Expo opens up a world of opportunities for students
To encourage and facilitate those aspiring to pursue higher education abroad from well-reputed universities and explore options of work visa post-study, TCL Global Pakistan held a Global Education Expo for all the willing students to realise their dreams into reality, in connection with its relaunch in Pakistan.… Continue
The 6th Advisory Board of NIMA held in Islamabad
A meeting of the 6th Advisory Board of the National Institute of Maritime Affairs (NIMA) was held at NIMA Head Office, Islamabad. Admiral Asif Sandila NI(M), former Chief of the Naval Staff, Chairman BoA chaired the meeting while the Board members and special invitees / maritime experts were in attendance, in person and online.… Continue
Effective mechanism needed to curb pointless expenditure: Mian Zahid Hussain
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 Wednesday said some politicians during their government and especially before the election waste resources in the name of development projects.… Continue