BOL NEWS BUSINESS DIGEST: November 18, 2021

BOL NEWS BUSINESS DIGEST: November 18, 2021

BOL NEWS BUSINESS DIGEST: November 18, 2021

BOL NEWS BUSINESS DIGEST. Image: Unsplash

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PSX remains bearish, Index losses 248.49 points

KARACHI: The Pakistan equity market again observed a profit-taking session on the back of concerns regarding the ongoing joint parliament session and anticipated hike in the interest rates, dealers said on Wednesday. – JAVED MIRZA

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Essential commodities prices on the decline: NPMC

ISLAMABAD: A meeting of the National Price Monitoring Committee (NPMC) on Wednesday reviewed the prices of wheat, sugar, pulses, chicken and other essential food items in the country. – HAMZA HABIB

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PM Imran Khan to open Track and Trace System for sugar sector

ISLAMABAD: Prime Minister Imran Khan will inaugurate the Track and Trace System of the Federal Board of Revenue (FBR) for the sugar industry on November 23, 2021, at the PM House. – HAMZA HABIB

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MCB, UnionPay sign agreement to facilitate e-commerce businesses

LAHORE: The MCB Bank Limited (MCB) has entered into an agreement with the UnionPay International (UPI) to further facilitate e-commerce businesses, a statement said on Wednesday. – IQTIDAR GILANI

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SBP to get autonomous status as parliament passes amendment bill

ISLAMABAD: The lawmakers on Wednesday gave an approval to amend the Banking Services Corporation Ordinance Bill, 2001, in a joint session of the Upper and Lower houses. – HAMZA HABIB

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SECP registers first life insurer as pension fund manager

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted permission to life insurance company, Postal Life Insurance Company Limited, to manage private pension funds under the Voluntary Pension System, a statement said on Wednesday. – HAMZA HABIB

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Administrator Karachi invites banks to help develop city

KARACHI: Administrator Karachi met the officials of Pakistan’s banking sector and several leading corporations to seek their support towards his initiative of launching infrastructure and beautification projects in the city, a statement said on Wednesday. – JAVED MIRZA

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Businessmen call for uninterrupted, low-cost gas

KARACHI: The government should upgrade gas transmission and distribution systems to avoid losses, as the domestic, as well as export industry, is fearing to face gas supply disruptions in the winter season, an official of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Wednesday. – SHAHNAWAZ AKHTER

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PTCL achieves Tier III Certification from Uptime Institute

KARACHI: The Pakistan Telecommunication Company Limited (PTCL) has received Tier-III certification of design for its Commercial Data Center (CDC) in Lahore from Uptime Institute, a statement said. – JAVED MIRZA

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Engro joins WEF to promote circular economy

KARACHI: Engro Polymer and Chemicals Limited (EPCL) has become the first affiliate member from Pakistan to join the World Economic Forum’s (WEF) Global Plastic Action Partnership (GPAP), a statement said on Tuesday. – LATIFUR REHMAN

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 Textile exports surge 26.55% to $6.021 billion in 4 months

ISLAMABAD: Pakistan’s textile exports registered an increase of 26.55 per cent during the first four months of the current fiscal year (2021/22), compared with the corresponding period of the last year, while it went up over 24 per cent on a year-on-year basis. ‑APP

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Rupee recovers 69 paisas at midday in interbank market

KARACHI: The rupee gained 69 paisas against the dollar at midday in the interbank exchange market on Wednesday, as it shows a decline for the third consecutive session. – LATIFUR REHMAN

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Rapid pace of urbanisation, population growth priority areas: minister

ISLAMABAD: The rapid pace of urbanisation and population growth and urban infrastructure are the priority areas. Further, efficient roads and digital networks are fundamental to employment and growth, a senior government official said. –APP

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PPL bags top Corporate Philanthropy Award

ISLAMABAD: The Pakistan Petroleum Limited (PPL) received the highest Corporate Philanthropy Award for being the largest corporate giver in terms of volume of donations during 2019/20, a statement said. – LATIFUR REHMAN

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Punjab govt’s economic policies yielding positive results: minister

LAHORE: The economic policies of the Punjab government are yielding positive results, an official said. – IQTIDAR GILANI

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