Web Desk — For the renewal of its operational licence, the Pakistan Mobile Communications Limited (Jazz) signed an agreement with the Pakistan Telecommunication Authority (PTA) on Tuesday, committing the highest ever investment in the telecom sector. The 15-year licence has been renewed against $486.2 million, 50 per cent (Rs44.54 billion or equivalent to $243.1n) of which has been deposited while …

Web Desk — Pakistan’s leading pharmaceutical company Martin Dow Marker (MDM) and “Dawaai” (leading Online Pharmacy of Pakistan) have signed a Memorandum of Understanding (MoU) for Joint Patients Awareness, Access & Care (JPAAC) program. The purpose of MDM and Dawaai’s partnership is to increase the public’s awareness of diseases and dosage compliance, to disseminate accurate and reliable information, and to …

Web Desk — Pakistan’s financial sector has been abuzz with new players as the country adopts digital payments.  The State Bank of Pakistan (SBP) reported in its first quarterly Payment Systems Review (PSR) report that Pakistan Real-time Interbank Settlement Mechanism (PRISM) recorded 1.1 million transactions valued at Rs159.1 trillion during the first quarter (July-Sept) of this fiscal year (FY22). The …

Web Desk — To improve food packaging and follow hygiene standards during food preparation, foodpanda partnered with the Punjab Food Authority (PFA) to train Home chefs regarding enhanced safety protocols and government SOPs. The training session was conducted with the aim of promoting and encouraging a food safety culture across Punjab, training the Homechefs on basic food preparation and hygiene …

Volkswagen Chief Financial Officer (CFO) Arno Antlitz says semiconductor chip supply is unlikely to be enough to completely satisfy demand again until 2024. In an interview with German daily Boersen-Zeitung, he said that although bottlenecks would likely begin to ease towards the end of this year, with production returning to 2019 levels next year, this would not be enough to …

Web Desk — Pakistan International Airlines (PIA) will operate direct non-stop flights to Sydney from April 22 with an interline arrangement made with Virgin Australia (VA) for eight more connecting destinations within Australia. A spokesman for the national flag carrier said on Thursday that initially the PIA flights would be operated from Lahore to Sydney on Fridays and from Sydney …

Web Desk — The Monetary Policy Committee of the State Bank of Pakistan (SBP), at an emergency meeting, decided to raise the policy rate by 250 basis points to 12.25%. The SBP, in a surprise statement, said that since the last MPC meeting, the outlook for inflation has deteriorated and risks to external stability have risen. “The MPC decided at its …

Web Desk — If you thought Squid Game was violent, get ready for something even more violent and terrifying. Variety reports that Hwang Dong-hyuk, the creator of Squid Game, is working on an upcoming movie that “will be controversial and more violent than his other offerings.” He also said it might force him to hide from older people. ‘Killing Old …

Web Desk — The local and international players have taken an overwhelming interest in the State Bank of Pakistan’s (SBP) digital bank initiative which reflects their confidence in the country’s financial sector which has been making huge profits despite economic challenges. According to the SBP, it had concluded the process of receiving applications for the issuance of licenses for digital …

Web Desk — In the auction conducted by the State Bank of Pakistan (SBP) on Wednesday, the cut-off yield for Treasury bills was raised by up to 80 basis points. Through the auction of three, six, and 12-month T-bills, the government raised Rs679.89 billion while the target was Rs600 billion. The cut-off yields for 3, 6, and 12 months saw …