SECP registers 2,409 new companies in January 2023
The Securities and Exchange Commission of Pakistan (SECP) registered 2,409 new companies in January 2023. The total number of registered companies now stands at 185,173. During the month, a record-breaking 174 companies were registered in a single day. Total capitalization (paid-up capital) with regard to newly incorporated companies for the current month stood at Rs…
Adil Aziz
Alibaba-backed Asian group Daraz cuts workforce 11%
ALIBABA-OWNED e-commerce platform Daraz Group is reducing its workforce in the Indian subcontinent by 11 per cent due to the ‘current market reality’, chief executive officer Bjarke Mikkelsen said, suggesting job losses that could affect about 300 people. Daraz confirmed to Reuters that the cuts will affect a base of 3,000 full-time regional employees. A…
Innovative fixed income HBL Total Treasury ETF Launched at PSX
A new and innovative HBL Total Treasury Exchange Traded Fund (ETF) has been launched at Pakistan Stock Exchange (PSX), facilitating investors to easily invest in a diversified pool of fixed income Government Debt Securities. The ETF, seventh to be launched on PSX, is a first of its kind as it consists of a blend of…
Al Ghazi Tractors Takes Another Leap Towards Modernization through a SAP-Powered Digital Transformation
Topping a record breaking year of market growth and success in management operations, Al Ghazi Tractors Limited, one of Pakistan’s largest agricultural equipment manufacturers, has begun a digital transformation and overhaul of its IT infrastructure with an investment of PKR 2 billion. With the integration of the state-of-the-art SAP S/4HANA, an innovative ERP solution, at…
PSX witnesses bullish trend, gains 722 points
The 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend, gaining 722.47 points, a positive change of 1.79 percent, closing at 41,193.63 against 40,471.16 points the previous day. A total of 176,726,529 shares were traded during the day as compared to 105,053,350 shares the previous day, whereas the price of shares stood at Rs…
Martin Dow Group Joins Hands with ABHI to Provide Earned Wage Access to its Employees
Karachi, Pakistan – Martin Dow partners with ABHI to provide Earned Wage Access to its employees. ABHI is offering Earned Wage Access to hundreds of companies as a financial wellness benefit to their employees. The new partnership with Martin Dow aims to provide a comfortable environment for their employees to work and thrive in. ABHI…
Fiscal deficit contained at 1.4%, primary balance improves
The fiscal deficit during the first five months (July-November) of the current fiscal year has been contained at the same level of 1.4 percent of GDP as it was recorded in the comparable period last year. According to the monthly Economic Update and Outlook for January 2023, the primary balance improved during July-November (FY2023) and…
The Award-Winning Marketer Sohaib Hassan joins LUNA Care
When organizations invest in senior human capital, they lay the foundation for growth and success, attracting top talent and driving innovation at the highest levels of the company. We have witnessed an era of brand building in Pakistan’s steel sector, and here’s some news: The SOLID award-winning marketer moves on to his next journey by…
FBR launches ‘App’ of currency declaration for international travelers
The Federal Board of Revenue (FBR) launched a mobile application named Pass Track with regard to the currency declaration for international travelers. “The mobile App “Pass Track” has been modified to facilitate passengers to declare currency while traveling to and from Pakistan even before coming to airport, Member Custom Mukarram Jah Ansari told media here…
The Institute of Business Management Holds its Annual Career Fair 2023
The Institute of Business Management recently held its annual Career Fair 2023 to facilitate graduating students in their hunt to get appropriate job placements that will advance their careers. With representatives from more than 100 companies belonging to diverse industries including top management, CEOs and HR directors participating in the fair, students were able to…