Meezan Bank, Pakistan’s leading Islamic bank, and Arif Habib Limited, a leader in investment banking, have recently partnered to enhance the investor experience in Pakistan. The collaboration is marked by a Memorandum of Understanding (MoU) and the launch of an innovative Instant Top-up Service for investors. Mr. Shahid Ali Habib, CEO of Arif Habib Limited, and Syed Amir Ali, Deputy Chief Executive Officer of Meezan Bank signed the agreement, with senior management from both organizations in attendance. The new service allows Meezan Bank customers to instantly top up their Arif Habib Limited investment accounts via the Bank’s Alternate Distribution Channels,…
Author: PAGE Report
InfraZamin Pakistan and Saudi Pak Industrial and Agricultural Investment Co Ltd signed a landmark transaction to provide an 11.5-year Distributed Solar Financing Facility to Acumen Energy Limited (Acumen) for PKR 1.28 billion. The Facility will be backed by a PKR 1.04bn credit guarantee to Saudi Pak and will mark InfraZamin’s first foray into renewable energy. The transaction, supported by Private Finance Advisory Network (“PFAN”) and Capital Resource as the advisors, will enable Acumen Energy Limited to finance the development of approximately 12 MW of solar power projects across Pakistan. Climate financing is a key focus area for the both InfraZamin…
Need for Immediate Action to Tackle Pakistan’s Economic and Environmental Challenges The 8th Edition of THE FUTURE SUMMIT concluded in Karachi with a packed hall at a local hotel in Karachi. On the inaugural day of the summit, Farrukh Amin, CEO of Unity Foods Limited, and Muhammad Azfar Ahsan, Founder & Chairman of Nutshell Group, welcomed the audience. The opening session was a compelling lineup of leaders and policymakers addressing the theme “What Matters Now” in a rapidly evolving world. Senator Muhammad Aurangzeb, Federal Minister for Finance & Revenue, discussed Pakistan’s macroeconomic journey, noting, “We have seen encouraging progress in…
Mashreq sets new standards in high-altitude environmental conservation with 1.727 tons (1,727 kilograms) of waste removed from16 mountain sites including K2, Broad Peak base camp, Concordia, Goro II. Expedition includes one of the highest clean-ups ever recorded at Camp 3 on K2, 23,800 feet above sea level. 47 local businesses and over 100 community members benefited directly from expedition, reinforcing Mashreq’s commitment to tangible social impact in addition to environmental results. Mashreq, a leading financial institution in the MENA region, has announced the successful conclusion of its mountain clean-up expeditions in Pakistan. The completion of the expedition in Pakistan is…
East River Digital, a leading digital marketing agency in Pakistan, has announced a strategic partnership with JD Technology, a global technology and e-commerce company. This collaboration, formalized at the headquarters of JD Technology in Beijing, China, aims to drive digital transformation in Pakistan by introducing world-class e-commerce services, AI-driven solutions, and advanced supply chain technologies to empower local businesses and enhance the digital experience for consumers across various sectors. The partnership will focus on revolutionizing Pakistan’s digital infrastructure through innovative technologies. Leveraging JD Technology’s expertise in AI-powered retail platforms, personalized marketing tools, autonomous delivery systems, and smart logistics solutions, the…
IBA’s School of Economics & Social Sciences (IBA-SESS) in collaboration with Center for Business and Economic Research (IBA-CBER) launched its report ‘The State of Pakistan’s Economy 2024-25’ at the Main Campus, IBA Karachi. This year’s theme is ‘Tapping the Economic Potential: Strategies for Productivity and Growth’. The report is authored by the faculty members and students from the Department of Economics, IBA-SESS and edited by Professor, IBA-SESS, Dr. Heman Das Lohano and Professor and Director IBA-CBER, Dr. Lubna Naz. This report analyzes key economic sectors in Pakistan, proposing strategies to unlock the country’s potential for sustainable growth and prosperity. It…
ChildLife Foundation releases guidelines for early detection and prevention of Mpox in children ChildLife Foundation has released guidelines for the early detection and prevention of Mpox in children. Mpox, previously known as monkeypox, is a viral infection that has become a growing concern worldwide. The guidelines aim to help parents, caregivers, and healthcare providers identify and prevent Mpox in children early on. What parents need to know Symptoms of Mpox in children typically include fever, headache, muscle pain, sore throat, and swollen lymph nodes, followed by a rash that starts on the face and spreads to other body parts. Unlike…
Global tech firm, ProDevice has signed a strategic agreement with SI Global Solutions, a leading Pakistani system integration and IT company, to expand its business in Pakistan through strategic partnership. CEO of ProDevice Global, Tomasz Filipów, and CEO of SI Global, Dr. Noman Said, signed the partnership agreement recently. Through this agreement, SI Global will introduce a diverse range of high-tech solutions to assist companies in strengthening their information security and data protection capabilities. This partnership is poised to bring cutting-edge technologies to Pakistan, enabling businesses to enhance cybersecurity practices in a rapidly evolving digital landscape. In light of the…
Pakistan’s leading digital microfinance bank, Mobilink Bank, has joined forces with CARE Pakistan to unlock the potential of 50,000 women through the Strive Women programme. Under this partnership, Mobilink Bank and CARE Pakistan will invest in their financial literacy and skills development, paving the way for a more equitable and prosperous society. Over the next three years, both organisations will offer 30,000 women the financial resources they need to establish or expand their businesses. Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in…
Emirates is supporting the flight journeys for Syed Daniah and Syed Abiha, two remarkable young golf prodigies from Karachi, as they head to the United States to pursue their higher education at Blinn College-Brenham Campus in Brenham, Texas. Through supporting flights from Karachi to Houston, Emirates continues its commitment of positively impacting the communities it serves by providing opportunities for talented youth from diverse backgrounds to fulfil their potential and pursue their academic and athletic dreams. By facilitating the journey of Daniah and Abiha to continue their education while competing at the highest levels of collegiate golf, Emirates is also…
Over the last 12 months, ChildLife has treated 6,000+ children for hepatitis, focusing on infection control and parent education Hepatitis continues to be a significant global health concern, ranking as the 8th leading cause of mortality worldwide. In Pakistan, the situation is particularly dire, with the country having the 2nd largest burden of hepatitis C globally, according to the World Health Organisation (WHO). Hepatitis A, a highly contagious liver infection, has the highest incidence rate among the four major acute forms of viral hepatitis (A, B, C, and E), according to the Global Burden of Disease (GBD) 2019 database. This…
Nationwide chargers across 17 cities, long range battery packs at competitive price and nationwide after sales support. Master Changan Motors Limited (MCML), a joint venture between Master Group of Industries and Changan International, unveils Changan’s electric-first brand, DEEPAL on August 16th 2024, at Dolmen Mall Clifton, Karachi. Customers can have first hand experience and test drive cars at Dolmen Mall until the 25th of August. MCML unveiled the brand Deepal with 2 models, L07, the pure electric sports luxury sedan and S07 the pure electric premium SUV. Both cars offer thrilling 250 HP and 320 Nm of instant torque, going…
Pakistan State Oil (PSO), the nation’s leading energy company, proudly announces the launch of the PSO Shaheen Program, a ground-breaking initiative designed to enhance women’s mobility, inclusivity, and independence. Drawing inspiration from the profound poetry of Allama Iqbal and the strong spirit of the Shaheen bird, this program aims to unleash the untapped potential within every woman, enabling them to overcome obstacles and reach new horizons. The PSO Shaheen Program offers comprehensive training in both car driving and bike riding, providing women with essential skills that not only foster personal growth but also open doors for professional development. This initiative…
National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, participated in the Pakistan China Business Conference held in Shenzhen, China. Mr. Hasnie was among the delegation accompanying Prime Minister Shehbaz Sharif who on Tuesday landed in China’s Shenzhen on his official visit to the country, as Islamabad aims to advance bilateral trade and economic ties with Beijing and attract Chinese investors via business-to-business (B2B) projects. The conference provided a platform for fostering economic ties between Pakistan and China. Mr. Hasnie met with key officials, including Mr. SHI Weigan, Director-General of the Shenzhen Local Financial Supervision Administration, to discuss potential…
Sarsabz, a leading brand in the fertilizer industry under Fatima Fertilizer, has achieved remarkable success at the prestigious Pakistan Digital Awards. This year, Sarsabz has been honored with three accolades : Best Use of Generative AI in Content Creation for Salam Kissan, Best Innovated Mobile App for Sarsabz Content – HSE App and Best Web Series of the Year for Sarsabz Kahani – Dahani. This winning spree at the Pakistan Digital Awards highlights Sarsabz’s commitment to leveraging cutting-edge technology and creative strategies to engage with Pakistan’s agricultural community. The Pakistan Digital Awards platform is celebrated for its individuality and impartiality,…
Unity Foods continues to showcase a strong commitment to ESG principles through a partnership with The Green Ark (TGA). A MoU was signed to this effect between both companies whereby TGA will collect and transform scrap materials from Unity Foods to create a diverse array of recycled products intended for reuse. The initiative aims to facilitate the circular economy by mitigating the impact of single-use plastics that contribute significantly towards the deterioration of global ecosystems. Unity Foods regularly undertakes lasting projects that align with its objectives to reduce the impact of conventional industrialization on the environment. Under the current partnership…
Imagine a world where a global crisis doesn’t cripple your dinner table. For Pakistan, a nation deeply woven into the fabric of culinary delights, the COVID pandemic was a game changer in many aspects. It all began as a response to the pressing need to address global supply chain constraints, particularly in the food sector. One key ingredient, tomato paste, a seemingly ordinary staple, symbolized a larger challenge – dependence on imported food supplies. Seeing this challenge as an opportunity to transform the nation’s food value chain, National Foods Limited, a Pakistani powerhouse, embarked on a remarkable journey – a…
The State Life Insurance Corporation of Pakistan (SLIC) has disclosed its outstanding financial accomplishments for the fiscal year 2023. Under the leadership of Shoaib Javed Hussain, CEO of SLIC, the corporation has achieved remarkable milestones, establishing itself as a financial powerhouse in Pakistan. Key Financial Highlights of 2023: Total Annual Income surged to an all-time high, exceeding PKR 526 billion, marking a substantial +37% increase from the previous year, highlighting SLIC’s strong revenue generation capabilities. Total Annual Premium Income witnessed a notable uptick, surpassing PKR 338 billion, reflecting an 18% increase compared to 2022, demonstrating the corporation’s ability to attract…
Standard Chartered Pakistan hosted an exclusive meeting between a delegation of international investors representing renowned Asset Management Funds from different parts of the world and the Federal Minister for Finance & Revenue, Muhammad Aurangzeb, in Islamabad. The meeting aimed to foster collaboration and explore potential investment opportunities in Pakistan’s economy. Standard Chartered has a rich history in Pakistan, having worked closely with the authorities through its onshore presence and global network. The bank continues to facilitate foreign participation in Pakistan’s local and foreign currency debt and capital markets by engaging with high-profile international investors. The Minister was accompanied by senior…
Indus Motor Company (IMC) is honoured to have received the esteemed Corporate Social Responsibility (CSR) Award from The National Forum for Health and Environment (NFEH). The recognition was bestowed upon IMC in the category of “CSR Initiatives”, acknowledging its unwavering commitment and outstanding contributions to the United Nations’ Global Goals. A competitive field of 86 companies vied for excellence across 36 award categories, resulting in 123 accolades collectively awarded to 74 deserving recipients. The accolade was presented at the 16th Annual Summit and Awards ceremony to IMC’s Head Corporate Communications and CSR, Mr Asad Abdullah, by the distinguished High Commissioner…
Ground-breaking milestones in Takaful industry highlighted by SLIC’s Tayyab Takaful remarkable growth in 2023 The State Life Insurance Corporation of Pakistan (SLIC) witnessed exceptional growth in its Window Takaful Operations in 2023. First Year Contribution surged to Rs.720 million, a remarkable 122% increase from the previous year’s Rs323 million. Gross contribution reached Rs1,012 million, signifying a significant milestone in SLIC’s journey. In just a couple of years in operations, SLIC’s Tayyab Takaful is rapidly emerging as the biggest player in the Takaful industry, demonstrating its unwavering dedication to excellence and customer satisfaction. The inauguration of the first Takaful dedicated zone…
The microfinance industry in Pakistan has seen a remarkable transformation over the past few years, playing a pivotal role in the nation’s economic development and financial inclusion efforts. In this dynamic industry, U Bank has emerged as a shining star, setting new standards as benchmarks and weaving its own story of progress and unwavering commitment to uplift communities. U Bank has been one of the fastest-growing players in the microfinance industry in the country. It stands tall as a beacon of financial empowerment for all segments of the Pakistani population, with the largest geographical spread among local microfinance banks. For…
National Insurance Company Limited (NICL), a Federal Owned State-Owned Entity (SOE) under administrative control of Ministry of Commerce is performing great and touching new heights. The company has increased its revenue (GWP) by 100% in a span of 3 years and now has GWP of PKR 30 billion by end of 2023 with a market share of around 17.5% in general insurance industry. With largest equity in insurance industry has the huge underwriting capacities for both Marine and Non-Marine businesses to cater for needs of national projects and assets. Generating profit of more than PKR 5 billion. The investment portfolio…
Challenges in talent acquisition, cost management, and ESG reporting emerge as the three top hurdles for SMEs as we enter 2024 New research from ACCA (the Association of Chartered Certified Accountants) highlights the pressing challenges and strategic innovation opportunities for small and medium-sized enterprises (SMEs). The study, SMEs: Business challenges and strategic innovation opportunities, reveals three main challenges: escalating costs, workforce and talent management, and the evolving ESG (Environmental, Social, and Governance) reporting agenda. The SME sector serves as the backbone of Pakistan’s economy, with over 5 million SMEs operating across the country in both formal and informal sectors, engaging…
Hub71-backed ABHI, an embedded finance platform founded in Pakistan, is advancing to its next growth stage by establishing its global HQ in Abu Dhabi with support from the Abu Dhabi Investment Office (ADIO) to grow its international operations. ABHI joined Hub71, Abu Dhabi’s global tech ecosystem, in 2022 where the company flourished by tapping into an extensive network of corporations, investment partners and government entities, unlocking the advantages of Abu Dhabi’s marketplace. The UAE’s capital supports the growth of companies at all stages through partnerships and collaboration as part of a broad ecosystem of national champions and investors working together…
Alhuda Centre of Islamic Banking and Economics (Alhuda CIBE) joined prominent religious leaders and representatives at United Nation Nations-28 at the Faith Pavilion for a powerful discussion on “How to mobilize your faith community towards climate change and land restoration.” Sharing the stage with Gurudev Sri Sri Ravi Shankar (The Art of Living), Yukiki Yamada Morovic (World Vision International), Maureen Goodman (Brahma Kumaris), and Georgina Bwango (United Nations Convention to Combat Desertification), and Alhuda CIBE CEO, Muhammad Zubair, highlighted the critical role of faith communities in driving meaningful action on environmental issues. They also emphasized the importance of mobilizing collective…
Top risks facing public sector organisations are financial challenges and an inability to meet changing demands and expectations of the public for services. A global survey of finance professionals and others working in the public sector showed a key part of the global economy wrestling with significant risks, while not always having the tools to cope. The research, drawing on responses from those working in a range of roles across the public sector – finance, risk, audit and service delivery – found that, for their own organisations, they were worried about funding for public services and the ability to meet…
Fatima Fertilizer, a leading name in the fertilizer industry, has once again garnered international acclaim with its groundbreaking “Salam Kissan” campaign, winning the prestigious Drum Award 2023 in London, in the category, “Social Purpose: Social Media”. Titled “Life without Kissan (Farmers),” the campaign aimed to highlight the stark reality of a world without the contributions of farmers. This remarkable achievement underscores Fatima Fertilizer’s unwavering commitment to meaningful social impact and innovation in the realm of digital marketing. The Drum Awards Festival is an annual lighthouse event for the global marketing community, celebrating excellence in every key marketing discipline. Distinguished as…
Pakistan’s leading digital microfinance institution, Mobilink Bank has reaffirmed its commitment to fostering gender-responsive climate finance at the Conference of the Parties (COP28) held in UAE. Representing the bank, Chief Operating Officer Haaris Mahmood Chaudhary addressed an engaging panel on the importance of gender-intentional green financing for combating climate change. Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for increased digital inclusion and driving economic growth across countries home to more…
The Future Summit is co-hosted by Nutshell Group and HBL, and powered by Unity Foods Limited, in strategic partnership with the Overseas Investors Chamber of Commerce and Industry (OICCI) and Corporate Pakistan Group. The inaugural session showcased an impressive lineup of public and corporate leadership with Mohammad Ali, Caretaker Federal Minister for Energy, Power & Petroleum; Maj Gen Shahid Nazir, HI (M), Director General Strategic Projects, Pakistan Army; Farrukh Amin, CEO, Unity Foods Limited; Lasha Tabidze, Global Chief Digital Officer, VEON; Dana Al Salem, Global Tech Entrepreneur, Investor & Innovation Expert; and Amir Paracha, President, Overseas Investors Chamber of Commerce &…
The Institute of Business Management (IoBM) holds a two-day International Conference on Islamic Banking and Finance (ICBIF) 2023 on November 14 and 15, 3023. Focusing on the theme of “Sustainable Development and Islamic Finance: Examining the Role of Islamic Financial Institutions in Promoting Sustainable Economic Growth, Ethical Investments, and Technological Innovations”, the high-profile conference highlighted how Shariah-compliant finance is paving the way for a sustainable economic landscape in the country. Distinguished speakers at the event included Mr. Ghulam Muhammad Abbasi, Director, Islamic Banking, State Bank of Pakistan, and Indonesian Consul General in Karachi, Dr. June Kuncoro Hadiningrat while the welcome…
ACCA (the Association of Chartered Certified Accountants) hosted a series of high profile events to celebrate Global Ethics Day 2023 from 17-19 October in Karachi, Lahore and Islamabad respectively on the theme ‘Ethics for a Better World’ featuring leading policymakers and prominent business and thought leaders. The three events brought together thought leaders, experts, and professionals from diverse sectors to discuss and deliberate on sustainability, positive work culture, leadership, regulatory governance and digital transformation from an ethical standpoint. The Chief Guests at the three cities were Muhammad Baligh Ur Rehman, Governor Punjab, Akif Saeed, Chairman, Securities & Exchange Commission of…
SINA is a PCP-certified and FBR-registered not-for-profit trust that annually serves 1.5 million disadvantaged patients living below the poverty line. SINA has established a vast network of 38 primary healthcare clinics all across Karachi that offer quality yet affordable health services. 90% of the total 1.5 million patients that SINA serves annually are Zakat-eligible, deserving patients in need of support for their treatment. Ambareen Kazim Thompson CEO’s Message This quarter, SINA was able to achieve quite a few milestones for which the team is to be commended and our partners thanked. Firstly, our Primary Care Physicians (PCPs) completed a 6-month…
BankIslami is one of the largest Islamic banks in Pakistan, with a branch network spanning over 130 cities and comprising more than 380 branches. The bank is dedicated to its mission of saving humanity from Riba (interest), in compliance with Islamic Shariah laws. As a pioneer of innovative and secure banking solutions, BankIslami has introduced a revolutionary biometric banking system called One Touch Banking, which allows customers to carry out all transactions with just a simple impression of their thumb. One Touch Banking is a biometric solution that enables customers to carry their bank in their thumb. The system has…
Pak-Qatar Group (PQG) – The Group remains the pioneer in dedicated Takaful solutions in Pakistan and comprises Shariah-compliant ventures like; Pak-Qatar Family Takaful Limited (PQFTL), Pak-Qatar General Takaful Limited (PQGTL), Pak-Qatar Asset Management Company Limited (PQAMC). These ventures are driven by Digitalization and a service-culture, to achieve the fastest growth and high credibility, by providing innovative solutions. Alhamdulillah! Our resolute efforts over the past decade as the pioneer and flag-bearer of Takaful have undoubtedly been rewarded by Allah (SWT) and by the people of Pakistan with the continuous strong & unwavering support from the shareholders representing the State of Qatar.…
InfraZamin collaborated with Nutshell Group to jointly host Pakistan’s first ever Infrastructure Summit at a local hotel in Karachi. Infrastructure development helps reduce unemployment and stimulates economic growth. In his welcome address, Muhammad Azfar Ahsan, Founder & CEO, Nutshell Group, and former Minister of State & Chairman, Board of Investment, said, “For infrastructure, we need political stability for an empowered public sector funding and though there is a huge potential for economic growth through foreign direct investment, we need to focus on the local investors first and mobilize that money on priority.” Maheen Rehman, CEO, InfraZamin, emphasized the importance of…
The Population Research Centre (PRC), Institute of Business Administration (IBA), Karachi hosted its first research conference, in collaboration with the School of Economics and Social Sciences (SESS), IBA in Karachi, last Monday. The conference brought together researchers, policymakers, and practitioners to a common platform to discuss Pakistan’s population problems and consider their solutions in the light of emerging contexts. The inaugural session was presided over by the First Lady Begum Samina Arif Alvi. The Keynote speaker was Dr. Sameen Siddiqi, Professor and Chair Department of Community Health Sciences AKUH. Dr. Siddiqi talked about the implications of population growth on Universal…
School of Business Studies (SBS), Institute of Business Administration (IBA), Karachi organized a panel discussion on ‘Pakistan’s Financial Turmoil Affecting Industry and Business’ featuring eminent panelists. The lecture was attended by faculty, students, media and members of the public. Panelists included Dr. S Akbar Zaidi, Executive Director, IBA; Dr. Miftah Ismail, former Finance Minister; Dr. Ishrat Husain, Professor Emeritus & Chairman CEIF, IBA & former Advisor to the Prime Minister on Institutional Reforms and Austerity; and Ms. Maheen Rahman, CEO, InfraZamin Pakistan. The session was moderated by Dr. Lalarukh Ejaz, Assistant Professor and Director, CED, IBA. The session commenced with…
The Q4 Global Economic Conditions Survey (GECS) shows signs of steadying, however, many indicators remain weaker than a year ago. The good news is that the GECS Confidence Index bounced slightly for the second consecutive quarter, perhaps reflecting hopes that the worst of the central bank tightening might soon be over and that China might successfully relax its zero-COVID restrictions. Even so, the Confidence Index remains below its median reading for the period since 2012. There is not much positive news from the other three economic indicators – new orders, capital expenditure (CapEx), and employment. CapEx picked up marginally but…
It was a wonderful evening at Pattaya Bay and a perfect platform to host the Award Ceremony for Top Achievers of Year 2022 during a fully hosted FAM trip organized by flydubai from January 20 to January 24, 2023 to one of its amazing destinations of Pattaya, Thailand. flydubai opened up new routes to Krabi & Pattaya in ASEAN region of Thailand from January 20, 2023. Thailand has always been a popular choice especially, Krabi for its beautiful beaches, striking limestone cliffs and dense mangrove forests and Pattaya distinguished by its resorts and hotels overlooking Pattaya Bay, has so much…
Whether it is infectious diseases or chronic health conditions, a large part of the value of diagnostics information lies in prevention, early detection, and management. In vitro diagnostic (IVD) testing provides critical information from prognosis and screening to disease progression and treatment pathways, enabling healthcare providers to make the best decisions on expected courses of action — with minimized uncertainty. For example, early and accurate diagnosis can help identify changes in the body even before the disease occurs,1 buying clinicians time to make optimal treatment choices for patients. Ongoing patient monitoring helps physicians measure treatment effectiveness, potentially preventing or slowing disease…
Bahrain Commercial Facilities Company ‘BCFC’ has signed a strategic partnership with key technology partners Codebase Technologies and Atyaf eSolutions to accelerate its digital transformation, focusing on the infrastructural development of their mobile and web customer channels. As companies focus on digitization to enhance their market offering, BCFC aims to reinforce its market leadership by introducing enhanced digital customer journeys and innovative experiences to the market. Through this partnership, Codebase Technologies will support Bahrain Commercial Facilities Company in introducing customer-centric offerings by implementing digital customer onboarding, eKYC, instant credit card issuance, and instant personal finance propositions. Leveraging the award-winning Digibanc fintech…
realme Pakistan’s Country Director offers insight on the string of tough months the smartphone industry has endured leaving industry players feeling downcast After a long and arduous wait, the Government of Pakistan recently announced that LCs, which had previously only been open for essential goods, are now open for all goods including non-essential and luxury items. The final decision to lift the import ban entirely was made in accordance with the final requirements imposed by the International Monetary Fund (IMF) on the Country. The past few months have been plagued with high levels of uncertainty and panic in the market…
ACCA says that the draft standards from the International Sustainability Standards Board (ISSB) are urgently needed to provide a consistent global base line for companies reporting on sustainability-related financial information. While welcoming the two exposure drafts (EDs) ACCA notes that it is imperative that reporting drives the necessary systematic change in sustainability reporting and that operational changes take place in companies and that investors use the information provided to allocate capital more efficiently and responsibly. Commenting on the ISSB’s exposure draft (ED) IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information ACCA is calling for a clear definition of…
The ardent batchmates of Google Developer Student Clubs (GDSC) of universities successfully hold a debut Hackfest 22 event in Karachi, this month, to help give solutions on the United Nations 17 Sustainable Development Goals under the pressing global warming challenges facing the world. Hackfest 22, an event comprising of three days (March 18 to 20) organized by Google Developer Student Clubs (GDSC) with esteem support from number of sponsors, especially by the IBA. The leading ten universities of the city including UOK, IBA, SSUET, SMIU, NED, FAST, UIT, DHA Suffa, SHU and Paf-KIET took part. The event onsite hackathon at…
Spacebar has been named an Authorized Sales Partner for SnackVideo, a short-form video platform. This conclusion was reached after many rounds of pitching in early 2022. SnackVideo’s commitment to expanding its commercial offering in Pakistan is strengthened by this news. Advertisers may now market their products and services to SnackVideo’s enormous user base. The Head of Kuai International Commercial, Gavin Zheng, said: “We are pleased that our collaboration with Spacebar has progressed to the level of an official partnership in Pakistan. As a first step, we want to significantly increase our global ad market share in the future.” “SnackVideo’s Popularity…
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has introduced a customer-friendly account opening process to provide access to its digital banking services. In line with its strategic vision, prospective MMBL customers can just visit the bank website and go to account.mobilinkbank.com or get the MMBL Dost app. The digital account opening enables customers to apply for an MMBL account online, just by having an internet connection and a camera-enabled smartphone or computer. Customers are provided convenience through friendly journeys, auto-filled forms, and real-time validation of their information e.g. Computerized National Identity Card (CNIC) and mobile number, etc. Moreover,…
The global trade in liquefied natural gas (LNG) increased 6% to 380 million tonnes during 2021 as many countries rebounded from the economic impact of the COVID-19 pandemic, according to Shell’s latest annual LNG Outlook published today. Rising LNG demand, combined with supply constraints, caused gas and LNG prices to remain volatile throughout the year. Prices reached record levels in October 2021 as Europe, with historically low storage levels, struggled to secure LNG cargoes to meet expected winter gas demand. The volatility emphasises the need for a more strategic approach to secure reliable and flexible gas supply in future to…
The Association of Chartered Certified Accountants (ACCA), on Tuesday 18th January 2022, announced the results of students who sat exams in the December 2021 session. Four Pakistani students scored the highest marks globally outperforming exam sitters worldwide. Arham Ali, an ACCA student from Lahore, scored the highest marks in Maintaining Financial Records exam. Similarly, Usama Maharir Muhammad from Lahore topped the Managing Costs & Finance exam. Komal Bawani, a young girl from Karachi achieved a perfect score in ACCA’s Management Function while Muhammad Umair Jan, an ACCA student from Peshawar, became the global topper in the Recording Financial Transactions exam.…
A contract for Digital-Streaming Rights of HBL PSL 2022-2023 also signed Owing to its tremendous popularity among online shoppers, Pakistan biggest ecommerce platform, Daraz has recently won the Digital Streaming-Rights of the cricket-extravaganza — HBL Pakistan Super League (PSL), for the next two seasons 2022-2023. The signing ceremony of this partnership-contract with Pakistan Cricket Board (PCB) was held recently at the Daraz Head-Office, where the two partnering organizations also orchestrated a PSL Trophy Tour, at 12 pm on Friday, 21st of January, 2022. Signing ceremony of Digital-Streaming Rights for HBL-PSL during the PSL Trophy Tour at Daraz Head Office. COO,…
Shell Pakistan is one of the leading sponsors of ‘Multan Sultans’ – the defending Champions and best performing team in HBL – Pakistan Super League (HBL PSL) over the last couple of seasons. Season 7 of the HBL PSL shall commence on the 27th of January with the final scheduled to be held on 27th February, 2022. Multan Sultans won the PSL Championship in 2021, under the excellent captaincy of Mohammad Rizwan – an iconic wicketkeeper and batter, who has also been nominated as ‘Cricketer of the Year’ by the International Cricket Council (ICC). Rizwan has been in great form…
FFC remains committed to be leader in fertilizer industry Fauji Fertilizer Company Limited (FFC) is the largest fertilizer manufacturing and marketing company in Pakistan. It was incorporated on 08 May, 1978 as a joint venture between Fauji Foundation, Pakistan and M/s Haldor Topsoe A/S of Denmark. The Production from first plant at Goth Machhi commenced from June 1982. FFC Marketing Group was established in 1979 as part of seeding program to develop market for Company’s fertilizer products and provide Agriculture extension services to farming community. With the passage of time the fertilizer market was developed and demand for Urea increased…
On 11 October, 1947, while addressing the Civil, Military and Air Force Officers, Quaid-e-Azam Muhammad Ali Jinnah said, “God has given us a grand opportunity to show our worth as architects of a new State; let it not be said that we did not prove equal to the task.” PARCO’s existence today is a living testament to the Quaid’s quote stated above. PARCO’s creation was the outcome of strong fraternal bond between Pakistan and Abu Dhabi. The Company was incorporated in 1974, as a 60:40 joint venture between Government of Pakistan (GOP) and Emirate of Abu Dhabi. PARCO has been…
GFS Builders and Developers appreciate all employees and treat them like family. GFS builders and Developers every year encourage, appreciate and motivate their every employee by represented best employee, rising star of GFS and many others. GFS builders and Developers Managing Director Mansoor Wahid and Chief Executive Officer Irfan Wahid said all GFS employees are my family, we are working very hard for our Country. GFS a projectized organization offering a full range of construction services and investment management while maintaining a strong foundation of trust and mutual respect generated through positive relationship with clients, architects, engineers, architects, engineers, sub-contractors…
*Fertilizer Policy 2022 to enable move to WACOG and leverage excess urea capacity in the country through exports* Pakistan, being an agrarian state with 20% GDP contribution and around 70% of the total population depending on agriculture for its livelihood, the role of Urea Industry has been of pivotal importance. Prior to 1980-81, Pakistan imported well over 50% of its annual fertilizer requirements and had been a net importer till 2012. However, thanks to the Fertilizer Policy of 2001, which led to investment in new plants and increase in production capacity. Average local urea demand in Pakistan is around 6.1…
Joint Ventures (JVs) have historically seen both success and failures. However, it has become clear to many companies globally that alliances – both equity JVs and contractual alliances – can be ideal for managing risks in uncertain markets, sharing the cost of large-scale capital investments and injection of entrepreneurial spirits. PARCO’s creation was the outcome of strong fraternal bonds between Pakistan and Abu Dhabi. Its subsequent expansion and development required a combination of strong financial base and commitment of technical and operational excellence, coupled with a reputation for conducting business in a transparent, fair and professional manner. All these are…
The two dedicated cold chain warehousing & distribution (W&D) facilities will cater to B2B and B2C requirements of the pharmaceutical eCommerce platforms from Karachi and Islamabad Maersk Pakistan earlier this week committed to setting up two cold chain W&D facilities in Karachi and Islamabad for TezMedz and Tabiyat.pk. Aruna Hussain, Managing Director, Maersk Pakistan signed an agreement with Asad Khan, CEO & Co- Founder of TezMedz and Tabiyat.pk to establish the cold chain W&D facilities for the healthtech startup in Pakistan. TezMedz and Tabiyat.pk Signs Contract with Maersk for Integrated Cold Chain Solutions The event was attended by Babar Ali…
The China Study Centre (CSC) at the Institute of Business Administration (IBA) Karachi hosted a day-long summit titled, ‘CPEC: Emerging Geopolitical and Geo-Economic Landscape Opportunities and Challenges’ at the IBA City Campus. Attendees included policymakers, opinion builders, academia, media, members of the IBA faculty, staff and students. The aim of the hybrid Summit was to explore and identify the future opportunities and challenges for China, Pakistan and Afghanistan economic, information and trade corridor in the wake of recent developments in the region, specifically the U.S. withdrawal from Afghanistan and the role of the new Afghan government in regional connectivity. Dr.…
The process of Initial Public Offering (IPO) of Interloop Limited at the Pakistan Stock Exchange (PSX), Book Building was completed on March 13 and 14, 2019. It was oversubscribed by 30%, and the Company was able to successfully raise PKR 5.02 billion, the highest ever by a private company in the history of Pakistan, placing Interloop amongst the top 50 companies listed on Pakistan Stock Exchange, by market capitalization. This capital will be used for business expansion by setting up a state of the art Denim Apparel Manufacturing Plant and Hosiery Plant 5. Musadaq Zulqarnain, Chairman and Navid Fazil, CEO…
Cham Wings Airline, a private carrier of Syria, will start its scheduled operations to Karachi from December 15th, 2021. This was announced by Mohsin A Dharsi, Director Commercial of KN Aviation Pvt Ltd, the General Sales Agents (GSA) of Cham Wings Airline in Pakistan. Addressing a gathering of leading travel & cargo agents and the industry at a function in local hotel for introduction of this new carrier Cham Wings Airline in Pakistan, Mohsin said that Cham Wings Airline is scheduled to start online weekly service between Damascus and Karachi from December 15th, 2021, using most efficient French airliners A-320…
Wins best Islamic Stock Exchange Award 2021 In a significant development on a global level, especially in the Islamic world, Pakistan Stock Exchange (PSX) has been awarded the Best Islamic Stock Exchange Award 2021 by Global Islamic Finance Awards (GIFA). GIFA is an internationally respected platform recognizing excellence in banking and finance in the Islamic world. Since 2011, the Awards have been presented to individuals, institutions and government departments globally who have shown outstanding performance in promoting Islamic banking and finance and in terms of commitment to social responsibility. GIFA is the only global Islamic finance awards program covering all…