Daily cargo handling report of Karachi port trust

The Karachi Port Trust handled 166,289 tons of cargo comprising 101,831 Tones of import cargo and 64,458 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 101,831 comprised of 52,371 Tons of Containerized Cargo, 9,522 Tons of DAP, 2,860 Tons of Sugar, 7,470 Tons of Wheat and 29,608 Tons of Oil/Liquid Cargo.… Continue

DP World partners with CDC group to create Africa investment platform

DP World has announced the creation of an investment platform in partnership with the UK’s development finance institution and impact investor CDC Group (CDC).

The platform covers a long-term investment period. DP World is contributing its stakes in three existing ports initially and expects to invest a further $1 billion through the platform over the next several years.… Continue

Fauji Fertilizer Bin Qasim earnings are also expected to increase by 204% QoQ

Experts expect FFBL’s unconsolidated EPS to increase by 140% YoY to Rs6.13 in 3Q2021 compared to EPS of Rs2.56 in 3Q2020. The turnaround in profitability is attributable to (1) one-off gain (EPS impact of Rs2.3/share) from the divestment of Fauji Wind Energy I-II, (2) improvement in DAP primary margins amidst increase in local DAP prices, and (3) 25% YoY increase in Urea sales.… Continue

Fauji Fertilizer Bin Qasim earnings are also expected to increase by 204% QoQ

Experts expect FFBL’s unconsolidated EPS to increase by 140% YoY to Rs6.13 in 3Q2021 compared to EPS of Rs2.56 in 3Q2020. The turnaround in profitability is attributable to (1) one-off gain (EPS impact of Rs2.3/share) from the divestment of Fauji Wind Energy I-II, (2) improvement in DAP primary margins amidst increase in local DAP prices, and (3) 25% YoY increase in Urea sales.… Continue

KSE-100: plunges by 648pts amidst low volumes

Key market themes for today

The index opened on a slightly positive note and experienced a bearish session amidst low volumes. The local bourse posted a low of 759pts and recorded a loss of 648pts to settle at 43,829pts level.

Trading volumes slightly increased by 89Mn shares compared with previous day’s tally of 66Mn shares.… Continue

BankIslami Organizes design-a-thon to promote art and culture within society

In an effort to promote the country’s potential for arts, BankIslami, Pakistan’s leading Islamic finance Institution, organized Design-a-thon-a creative marathon- for aspiring creators across Karachi. The grand finale for the event was held on the 11th of October. A distinguished panel of judges from the creative arts industry including Ahmed Ali, Chief Creative Executive, RG Blue Advertising and Rashna Siddiqa Abdi, Chief Creative Officer, IAL Saatchi Saatchi selected the winners.… Continue

Uber & Easypaisa partner to introduce cashless payments

Uber, the global ride-hailing platform that seamlessly connects riders with drivers, with an aim to encourage digital financial inclusion in Pakistan, is introducing digital payments for its riders and partner drivers, in collaboration with Easypaisa, Pakistan’s leading digital payments platform.

Under this partnership, Uber riders and partner drivers will both be able to pay for their Uber rides and platform fees respectively, using Easypaisa.… Continue

Four social enterprises emerge victorious in UNDP-Jazz SDG Bootcamps 1st cohort

Four social enterprises have emerged victorious from the first cohort of the UNDP-Jazz’s SDG Bootcamps for Social Enterprises.. Overall, 70 social enterprises from across Pakistan participated in the first cohort with over 40 percent participation by women.

The winning social enterprises include Digital Libas, an initiative from Balochistan providing skilled women workers with the opportunity to become financially independent; Sukoon, a health-tech initiative from Punjab aiming to revolutionize mental health care; Asani.io,… Continue

PM’s Advisor for Commerce and Investment and Careem discuss potential of technology

The Advisor for Commerce and Investment to the Prime Minister Imran Khan, Abdul Razak Dawood, visited Careem’s headquarters, Dubai in his visit to the Expo 2020. The Advisor met senior leadership of Careem including: Mudassir Sheikha, CEO and Co-founder of Careem, Colin Judd, Senior Director Corporate Affairs and Fatima Akhtar, Director Government Relations Pakistan.… Continue

Zong introduces industry-first UAE & Oman T20 World Cup data bundle

With the 2021 T20 world cup around the corner, the cricket enthusiasts are buzzing with excitement with thousands of fans traveling to Oman & UAE to catch the spectacle live. To make this mega event more exhilarating and special for its subscribers, Zong 4G, Pakistan’s cellular and digital services leader, has introduced an unmatched UAE & Oman T20 World Cup data bundle.… Continue

Daily cargo handling report of Karachi port trust

The Karachi Port Trust handled 394,664 tons of cargo comprising 257,773 Tones of import cargo and 136,891 Tons of export cargo during last 48 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 257,773 comprised of 142,248 Tons of Containerized Cargo, 8,178 Tons of Bulk Cargo, 27,007 Tons of DAP, 1,145 Tons of Sugar, 17,734 Tons of Wheat and 61,461 Tons of Oil/Liquid Cargo.… Continue

SBP eases conditions for renewable energy solution providers under renewable energy financing scheme

To promote investment in renewable energy solutions by companies, State Bank of Pakistan (SBP) has eased the conditions for renewable energy solution providers under its Refinance Scheme for Renewable Energy. Now, all Renewable Energy Investment Entities (RE-IEs) interested in installing renewable energy projects/solutions are allowed to avail refinance under category III of the scheme.… Continue

Buy calls for Engro Polymer & Chemicals

Experts initiate coverage on Engro Polymer and Chemicals Limited (EPCL), with a ‘Buy’ rating and a Target Price of Rs78 per share, offering an potential total return of 60% (including dividend yield of 21%). The company is set to post 5-year earnings (2021E-2025F) CAGR of 13%.… Continue

Pak-Qatar General Takaful Signs MoU with cometinsure to promote Takaful products

Pak-Qatar General Takaful (PQGTL) recently signed an agreement with Cometinsure (Online aggregator) to promote Takaful products online. Muhammad Raza (Head of Operations, PQGTL) and Muhammad Sufyan Bedi (Operations Manager, Cometinusre) signed the agreement along with senior officials of both companies.

Muhammad Raza while speaking at the signing ceremony stated, “We are extremely delighted to join hands with Cometinsure as customers will benefit from searching Takaful products online and our reach will also increase to spread awareness about Takaful products.… Continue