Category: Corporate
-
MoU Signing for Digital Healthcare Services Marks a New Milestone for KMBL
Khushhali Microfinance Bank Limited (KMBL), Pakistan’s first specialized microfinance bank, recently partnered with oladoc, a leading digital healthcare platform, to promote healthcare services for their customers. The partnership will empower users to connect with a vast network of over 25,000 doctors, medical specialist through the oladoc app, website and tele-helpline. The collaboration will facilitate KMBL…
-
DHA Quetta and Rohtas Communications Partner Set Up Balochistan Baithak to Celebrate Cultural Heritage of the Province
Defence Housing Authority (DHA) Quetta and Rohtas Communications signed an agreement to set up Balochistan Baithak, a community space for the promotion of the history, culture, literature, art and crafts of the beautiful province of Balochistan. Mr Muzammil Saeed, Director Business Development and Joint Ventures, DHA Quetta, and Haroon Shuaib, CEO and Managing Director, Rohtas…
-
Zindigi Redefines Digital Financing with industry-first Realtime Advance Salary
Zindigi continues to redefine financial convenience with its latest Advance Salary+ feature. Through this loan offering Zindigi will offer 3,6,9 & 12-month loans which enhance financing options for salaried individuals at the most competitive rates. Building on its AI-driven technologies, Zindigi now offers a hassle-free solution designed to meet the immediate financial needs without any…
-
OGDCL Chairman Praises MD/CEO Ahmed Hayat Lak’s Leadership for Operational Excellence
Zafar Masud, Chairman of the Oil and Gas Development Company (OGDCL) Board, commended the outstanding performance of Ahmed Hayat Lak, MD/CEO of OGDCL. In an interview with a private news TV channel, Chairman OGDCL Zafar Masud highlighted significant improvements in OGDCL’s operations since Ahmed Hayat Lak assumed leadership, attributing these gains to a strategy focused…
-
Black Box Sounds & Alliance Française Unite for Artistic Excellence
Black Box Sounds, an art and culture lab and communication for change organization, signed a Memorandum of Understanding (MOU) with Alliance Française. The ceremony was attended by esteemed delegates from the EU, including Piotr Buszta, First Counsellor and Head of Political, Trade, and Communication Section of the Delegation of the European Union to Pakistan. Also…
-
SLB Collaborates with OGDCL on Geothermal Resource Development in Pakistan
SLB (NYSE: SLB) is collaborating with Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration and production company, to develop a strategy for exploiting geothermal resources in hydrocarbon fields across Pakistan. As part of the collaboration, SLB will help OGDCL develop a plan for evaluation of the geothermal potential of 25…
-
American Business Council Urges Government to Reconsider 25% SAP Expense Disallowance Policy
The government has disallowed 25% Sales Promotion, Advertising and Publicity (SAP) expense creating a significant marketing cost especially to multinationals that rely on advertising to sell fast moving consumer goods (FMCG). This means a higher tax liability for foreign companies, already struggling with current macroeconomic conditions. It also means an anti-competitive and discriminatory landscape targeting…
-
Telenor Pakistan Reaffirms Commitment to Greener, Sustainable Future on World Environment Day
As the global community unites to celebrate ‘World Environment Day’, Telenor Pakistan has reaffirmed its commitment to a greener and more sustainable future through reduction in greenhouse gas emissions and sustainable practices to ensure a healthier and more resilient planet for the future generations. This year’s theme, ‘Land Restoration,’ deeply resonates with Telenor Pakistan’s mission…
-
FCEPL collaborates with University of Central Punjab for World Milk Day 2024
FCEPL celebrated World Milk Day 2024 in partnership with the Department of Food Science & Technology and the Food Junction Society at the University of Central Punjab on June 3, 2024. Dr. Muhammad Nasir, Head of Corporate Affairs at FCEPL, engaged with students on the critical importance of safe and accessible dairy in Pakistan. He…
-
MDA Training Programs are bridging the Skills Gap
In a time when the financial services sector is changing rapidly, MDA Training serves as a lighthouse that helps businesses navigate the skills gap. Their customized programs are expeditions into the depths of expertise and knowledge instead of mere courses. The financial industry is turbulent, and businesses desperately need capable navigators. Through its customized programs,…
-
USSEC’s Pitch2Fork Spotlights Startups Leading in Protein Innovation
Right to Protein powered by the U.S. Soybean Export Council (USSEC) hosted its second Pitch2Fork program in Dubai, UAE. With a focus on innovations in the protein industry, this platform provided a unique opportunity for entrepreneurs across Bangladesh, India, and Pakistan to pitch their rising businesses to a panel of investors. Shortlisted companies that…
-
Coca-Cola’s Solar-Powered Water Filtration Plant in Megwarh Village near Umerkot Sindh benefits 800 households
With 800 households, Megwarh is a small village near Umerkot Sindh, birth place of the great Mughal Emperor Akbar. Coca-Cola has set up a filtration plant in the village with a maximum capacity of disbursing 1000 liters per hour. The solar-powered pump uses ultrafiltration system to clean water which women of this community earlier fetched…
-
Cola Pakistan Receives Governor’s Appreciation Certificate for Responsible Business Practices
Coca-Cola received Governor’s Appreciation Certificate at a ceremony in Lahore. This certificate, the highest form of appreciation from the Governor’s office, was awarded in recognition of Coca-Cola’s vision and its innovative approach to adopt principles of sustainability throughout its operations. Director Public Affairs & Stakeholder Management, Dr. Faisal Hashmi received the award on behalf of…
-
FrieslandCampina Engro Pakistan Limited announces Q1, 2024 results
FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for Q1, 2024, delivering a strong topline growth of 21% (PKR 27.5 billion compared to PKR 22.7 billion in the same period last year) despite the challenging operating environment and economic slowdown.This increase was fueled by volume growth and relevant consumer offerings. The Company witnessed a…
-
Khushhali Microfinance Bank Takes Charge Against Climate Change
Khushhali Microfinance Bank Limited conducted a plantation drive in various sectors of Sindh. KMBL branches in Larkana, Mehar, Mehrabpur, Ratodero, Shahdad, and Wagankambar participated in the event. The participants planted numerous trees across different locations to contribute towards a greener and healthier environment and combat climate change that is on the rise. The plantation drive…
-
Shan Foods unveils new corporate identity amid growing global presence
Shan Foods, one of Pakistan’s longstanding food companies, has unveiled its brand new corporate identity under the name of Shan Shares. The culinary giant, which dominates the South Asian cuisine landscape in more than 70 countries worldwide, has been famous for its ‘Taste Happiness’ tagline since its inception from a single-room operation in 1981. The…
-
PTC Acknowledged as One of Pakistan’s Leading Taxpayers by Government
Pakistan Tobacco Company Limited (PTC) has been honoured by the Government of Pakistan for its exemplary contribution as one of the country’s highest taxpaying company. This recognition underscores PTC’s steadfast commitment to corporate responsibility and its significant role in driving economic growth in Pakistan. As one of the leading multinational’s operating in Pakistan, PTC has…
-
WWF-Pakistan’s World Water Day Seminar Highlights Vital Role of Groundwater Recharge Wells
WWF-Pakistan organized a World Water Day seminar and a field visit to the University of Engineering and Technology (UET), Lahore where two groundwater recharge wells have been constructed as part of the Ravi River Restoration Project. The event brought together industry experts, academia, and members from the Ministry of Water Resources to witness the…
-
Secure Innovation for Pakistan: Trust Decision & Rapid Cloud Boost Financial Services
TrustDecision is forging a pivotal partnership with Rapid, Pakistan’s leading in-country cloud service provider, to deliver its cutting-edge fraud, credit risk, and compliance solutions. This collaboration will empower commercial banks, Electronic Money Institutions (EMIs), Digital Retail Banks (DRBs), and e-commerce platforms to harness TrustDecision’s comprehensive services within Pakistan, fostering enhanced security and operational efficiency. Leveraging…
-
Faysal Bank and Womenza Pakistan Collaborate to Empower Freelancers
Faysal Bank Limited (FBL), the leading Islamic Bank of Pakistan, has partnered with Womenza Pakistan to facilitate freelancers across Pakistan. This strategic partnership underscores the commitment of both the organisations to foster economic independence and inclusivity, particularly among women freelancers. Expressing his inclination to further strengthening the thriving freelance sector of Pakistan, Chief Digital Officer,…
-
AKU Launches 3.3 MW Solar Photovoltaic Installation
As part of AKDN’s commitment to net zero by 2030, the Aga Khan University (AKU) is installing its largest solar photovoltaic (PV) project to date. To commence the project, a signing ceremony was held with Exide Pakistan Limited, who will be executing the project at AKU’s Stadium Road Campus in Karachi, Pakistan. Renewable energy is…
-
foodpanda distribute safety kits among delivery riders
foodpanda, Pakistan’s leading delivery platform, remains steadfast in its commitment to prioritize the health and safety of its riders. Teaming up with prominent healthcare entities, foodpanda has distributed safety kits to its dedicated delivery riders in Punjab. This collaborative effort involves partnerships with reputable companies such as Herbion Pvt Ltd, Martin Dow Market Ltd, Bright…
-
Rizq and Coca Cola longstanding partnership to distribute 8 million meals this year
Coca-Cola Pakistan with Rizq, a local non-profit organization will continue their shared vision of a hunger-free Pakistan for the fourth consecutive year. Starting from this Ramadan, the partnership aims to distribute over 8 million meals across 9 cities benefitting more than 150,000 people throughout the year. Additionally, through GroRizq- Kissan Dost Program, they are providing…
-
FrieslandCampina Engro Pakistan Ltd Announces Financial Results for FY 2023
FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for the year ended December 31, 2023. The Company continued its growth trajectory and delivered another record year with the highest-ever top line and operating profit. This was in the face of a challenging macro-economic environment and intense competition. The Company achieved a remarkable milestone, surpassing…
-
PSX Benchmark Index Rebounds After Significant Decline
The Pakistan Stock Exchange’s (PSX) benchmark index, the KSE-100, rebounded on Wednesday, registering a significant recovery after the previous day’s substantial decline. The index surged by 2.86%, or 1,692.65 points, to close at 60,863.62, effectively halting the bearish trend that had persisted throughout the preceding week. The recovery came on the heels of a 4.1%…
-
Oil Prices Surge 2% Amid Red Sea Tensions
Oil prices surged over 2% on Tuesday, reaching their highest level this month, driven by concerns over further attacks on ships in the Red Sea and the anticipation of interest rate cuts that could stimulate economic growth and fuel demand. Brent crude futures rose by $2.41, or 3.1%, to $81.48 a barrel, while US West…
-
Cotton Market Resilient Amid Slow Trade Activity
In a subdued trading session on Tuesday, the local cotton market experienced sluggish business, characterized by low trading volumes. Cotton analyst Naseem Usman reported that the cotton rates in Sindh ranged from Rs 15,500 to Rs 18,000 per maund, with Phutti prices in the region varying between Rs 5,000 and Rs 7,000 per 40 kg.…
-
Karachi Stock Exchange Sees Volatile Swings
The Karachi Stock Exchange (PSX) witnessed a dynamic start to the business week as the 100-Index gained a substantial 200 points, propelling the benchmark to 66,335 points. This development comes amid a roller-coaster ride for stocks, with the KSE-100 index surging by approximately 18,000 points or 37% over the past 10 weeks. Notably, in 2017,…
-
China Demand Concerns Offset by Supply Disruptions
Copper prices experienced a downturn on Monday due to apprehensions surrounding weak demand in China, the world’s leading consumer of the metal. However, the decline was mitigated by disruptions in mining operations and closures that raised concerns about potential supply constraints. In official rings on the London Metal Exchange (LME), benchmark copper traded 0.4% lower…
-
BOJ Maintains Cautious Monetary Stance
The Bank of Japan (BOJ) has opted to maintain its ultra-loose monetary policy, emphasizing its cautious approach while awaiting further clarity on the trajectory of wages and inflation. The central bank’s decision, announced on Tuesday, indicates a preference for patience and a readiness to take additional easing measures if deemed necessary, as stated in its…
-
how has the covid-19 affected farmers in pakistan
The COVID-19 pandemic has significantly impacted farmers in Pakistan, particularly in the provinces of Sindh and Punjab. The pandemic has disrupted farm production and supply chains, leading to adverse effects on agricultural households. According to a publication by the Asian Development Bank (ADB), the pandemic has caused a decline in production and supply, despite exemptions…
-
Pakistan’s Economic Challenges in FY23
Pakistan’s economy has faced tremendous challenges of macroeconomic imbalances, supply shocks, and international economic slowdown, which has dampened growth in the past two years. The World Bank’s latest Pakistan Development Update has estimated that the country’s economy contracted by 0.6% in FY23 due to accumulated economic imbalances and difficulties securing critical inputs, including fertilizers, which…
-
Binance and CEO Plead Guilty to Federal Charges
In a landmark development, Binance Holdings Limited (Binance), the operator of the world’s largest cryptocurrency exchange, Binance.com, has pleaded guilty to federal charges totaling $4 billion. The company’s founder and CEO, Changpeng Zhao, also known as CZ, a Canadian national, has admitted to failing to maintain an effective anti-money laundering (AML) program, resulting in his…
-
PSX Surges to Record Heights: Bulls Continue Dominance
The Pakistan Stock Exchange (PSX) witnessed its third consecutive session of bullish dominance on Monday, propelling the benchmark index to achieve yet another historic high. The surge in share prices to record levels was attributed to positive factors such as robust data on exports and home remittances. Additionally, a decline in bond yields during the…
-
Dirham to PKR: Notable Drop in Exchange Rate
In the dynamic landscape of currency exchange, the buying rate of the United Arab Emirates (UAE) Dirham in the open market of Pakistan experienced a notable drop to Rs79.75 on the second day of the new business week. Concurrently, the selling rate is recorded at Rs80.5, reflecting the evolving trends in foreign exchange rates. As…
-
Copper Price Seeks Stability Amidst Corrective Rebound
The price of copper has experienced a corrective bullish rebound, reaching 3.6600 as it takes a brief pause. The intention is to gather positive momentum, reinforcing a potential continuation of bearish trends in the upcoming period. The sustained position below the MA55 is a crucial factor supporting the stability around the 3.7300 barrier, affirming the…
-
Merchant digitization emerges as one key driver for Pakistan’s inclusive economic growth in UN report
A big opportunity for Pakistan resides in ushering its micro, small and medium enterprises (MSMEs) into the digital age, as revealed in a new report by the United Nations-based Better Than Cash Alliance, in support of its member, the Government of Pakistan, and the State Bank of Pakistan. The fates of small businesses and national…
-
The Imperative of Business Sustainability
In a world where climate change-induced extreme weather events are disrupting supply chains and causing food scarcity, the role of sustainability in business has never been more critical. The need for a sustainable approach isn’t just a matter of corporate responsibility; it’s a strategic imperative that affects not only the planet but also the long-term…
-
Corporate Dilemma: Staying in Russia Amid Ukraine Conflict
Amid the tumultuous backdrop of Russia’s invasion of Ukraine, a complex and contentious dilemma confronts corporations with vested interests in Russia. The choices these companies make have profound implications, from financial considerations to the risk of reputational damage. In a world grappling with this moral and financial conundrum, we explore why some firms have chosen…
-
KMBL and HBL Konnect Sign Agreement
The Khushhali Microfinance Bank Limited and HBL Konnect have signed an agreement, enabling payments for Khushhali Bank customers through HBL Konnect branchless banking and agents network across Pakistan. The agreement marks a significant step taken by KMBL to incorporate partners from the digital payments industry to transform its infrastructure, thereby facilitating customers to make their…
-
Farmers Demand Compensation Amidst Sugar Price Controversy
In a surprising turn of events, the Pakistan Kissan Ittehad (PKI) has voiced its deep concern regarding the Punjab government’s decision to procure sugar from mill owners at an alarming price of Rs140 per kilogram. PKI President Khalid Mahmood Khokhar, in a statement released on Monday, expressed bewilderment over the significant increase in sugar prices,…
-
“USD to PKR: Pakistan’s Dollar Exchange Rate – August 31, 2023”
In the world of financial fluctuations, where currencies constantly dance to the tune of global markets, the exchange rate between the US Dollar (USD) and the Pakistani Rupee (PKR) remains a crucial point of interest. As of August 31, 2023, the Dollar Rate in Pakistan stands at Rs. 305.54, representing the interbank closing exchange rate…
-
Foreign Banks Demand 10% Commission for Letters of Credit Amid Economic Challenges
In a startling development, foreign banks are now insisting on a substantial 10% commission to endorse letters of credit (LC) for importable consignments, as disclosed by informed sources within the banking sector. This unprecedented move comes as Pakistan grapples with a host of economic challenges, eroding the confidence of global financial institutions in the country’s…
-
Pakistani Rupee Ends Losing Streak, Gains Against US Dollar
In a much-awaited turnaround, the Pakistani rupee has put an end to its ten-session losing streak against the US dollar, managing to secure a marginal gain to settle at 305.47. This shift comes as a breath of fresh air for Pakistan’s financial markets, which have witnessed a steady depreciation of the national currency in recent…
-
easypaisa and foodpanda Transforming Food Orders with Seamless Digital Payment Integration
easypaisa and foodpanda have joined hands to introduce seamless payment options for customers. Users will now be able to pay for their orders directly through their easypaisa wallet. This partnership empowers millions of easypaisa customers to conveniently order meals from the foodpanda app and make payments directly from their easypaisa mobile accounts. The integration of…
-
Daraz’s female riders are a symbol of progress in the e-commerce industry
Daraz, the leading e-commerce platform in Pakistan, recently announced the expansion of its Daraz Express delivery service by adding female riders to its fleet as a way to promote diversity and inclusivity in modern e-commerce. By welcoming female riders into the Daraz Express family, the company is taking a transformative step towards breaking traditional gender…
-
JS Bank Reports Robust Growth in H1 2023, Profit After Tax Grows By 254%
JS Bank, one of the fastest-growing banks in Pakistan unveiled its financial performance for the first half of 2023. The report underscores a trajectory of growth across multiple financial indicators. During the first half of the year, the Bank recorded a significant increase of 231% in profit before tax and 254% in profit after tax,…
-
Gold Rate Today in Pakistan – August 21, 2023: Latest Updates
In a fresh update regarding the gold market in Pakistan, the Gold Rate on August 21, 2023, stands at Rs. 225,000 per tola for 24-karat gold. Meanwhile, the Gold Price for 10 grams of the precious metal is noted at Rs. 192,901 in the local bullion market. These rates are in accordance with various sources…
-
Gold Prices in Pakistan Respond to Global Trends with Decline
In alignment with the global trajectory, the value of gold in Pakistan experienced a further decline, marking the second consecutive session of decrease. This development mirrors the international trend in gold prices. Data furnished by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reveals that the price of gold (24 carats) took a significant dip,…