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Author: Faisal Shahnawaz

  • State Bank to celebrate women’s financial inclusion

    State Bank to celebrate women’s financial inclusion

    KARACHI: The State Bank of Pakistan (SBP) has said it will celebrate the journey of women’s financial inclusion in Pakistan.

    In this regard the central bank, in collaboration with UBL, Standard Chartered Bank, and Bank Alfalah, will be hosting an event titled “Asaan Digital Account: Breaking Barriers”, on March 07, 2022.

    READ MORE: SBP organizes discussion on ‘promise of digital banks’

    The SBP governor Dr. Reza Baqir, will be the chief guest of the event.

    The event will celebrate the role and contributions of women in our economy and SBP will introduce its flagship Asaan Digital Account, which is a fully digitized solution for opening a full service bank account with CNIC and no other documentation requirements from anywhere, at any time, through smartphones or computers.

    READ MORE: Pakistan’s e-banking registers sharp increase in 1QFY22

    In this spirit, the event has been titled as “Bila rukawat – Asaan Digital Account” in Urdu to allude to the seamless access to banking that will now be available to all Pakistanis, especially women in their palms.

    The Asaan Digital Account provides availability and accessibility of financial services to customers with the click of a few buttons.

    READ MORE: SBP imposes Rs1.45 billion penalty on 18 banks in 2021

    More importantly, these accounts are particularly helpful for women as it overcomes the barriers such as lack of documentation, proximity to bank branches and other social and cultural norms that have traditionally and disproportionally limited women’s access to bank accounts and hampered their financial inclusion.

    READ MORE: SBP imposes penalty of Rs58 million on five banks

  • Bitcoin to Pak Rupee on March 06, 2022

    Bitcoin to Pak Rupee on March 06, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,054,001.19 on March 06, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs6,958,539.72 on March 05, 2022.

    The rate of Bitcoin in US Dollar (USD) is $39,390.04 on March 06, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $38,856.98 on March 05, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Bitcoin to Pak Rupee on March 05, 2022
  • Ripple to Pak Rupee on March 06, 2022

    Ripple to Pak Rupee on March 06, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs133.47 on March 06, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs128.90 on March 05, 2022.

    The rate of Ripple in US Dollar (USD) is $0.75 on March 06, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.72 on March 05, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on March 05, 2022
  • Dogecoin to Pak Rupee on March 06, 2022

    Dogecoin to Pak Rupee on March 06, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs22.21 on March 06, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.92 on March 05, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.12 on March 06, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.12 on March 05, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on March 05, 2022
  • Women entrepreneurs vow to continue struggle for rights

    Women entrepreneurs vow to continue struggle for rights

    Women entrepreneurs have vowed to continue the struggle for women’s rights, stressing that it is important to provide awareness to women in order to achieve their rights, while also empowering women in various sectors of the economy.

    Women entrepreneurs should have maximum opportunities to move forward.

    Speaking at an event held at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) to mark International Women’s Day, Member National Assembly Nusrat Wahid said that PTI government is working hard for women’s rights and Prime Minister Imran Khan’s vision is that women should be given equal opportunities in every field.

    Vice Chairman of FPCCI Managing Committee Muhammad Suleman Chawla, Member Managing Committee Shabbir Mansha Churra, Former VP FPCCI and Founder President Karachi Women Chamber of Commerce & Industry District Malir (KWCCI), Nazli Abid Nisar, Zoreed Raza, Hina Tariq, SHO Women and Children Police Station South Zone, Afzala Shaheen, SVP KWCCI, VP Yasmin Arif, Prof. Shaista Afghani, Collector Customs Nauman Batool, Advocate Lubna, Sana Nadeem, Mahesh Ayana, Shamim Dar, Iqra Saqib, Mehreen Elahi, Dr. Ghazala Yasmeen, Shahida Amjad, Afshin Tariq, Shami Khan, Kausar Salmani, Shazia Khan, Mina Batool and a large number of women entrepreneurs participated.

    MNA Nusrat Wahid further said that the laws that are being formulated today were announced 14 centuries ago and a study of Surah An-Nisa would give a detailed understanding of the rights of women and even the right of women regarding inheritance.

    Earlier Founder President Karachi Women Chamber of Commerce & Industry District Malir, Nazli Abid Nisar, while welcoming the guests, stated that FPCCI is an important platform for highlighting women’s issues and struggle for their rights, and we are also grateful to Hina Mansab Khan, due to which we got the biggest platform of the country.

    Nazli Abid requested the government through FPCCI to help women entrepreneurs and facilitate them in doing business. Our only agenda is to increase the participation of women in Pakistan’s economy.

    She noted that we have many work plans and roadmaps to achieve this goal. We know this is a long journey. However, women entrepreneurs need encouragement and support to continue this journey.

  • Weekly Review: market to remain jittery

    Weekly Review: market to remain jittery

    KARACHI: Pakistan’s stock market likely to stay jittery on geopolitical tensions and rising commodity prices.

    Analysts at Arif Habib Limited said that the market will remain jittery in the short term on account of geopolitical tensions and rising commodity prices.

    READ MORE: Stocks gain 25 points in range bound trading

    Key events to look out for include MPC meeting, FATF decision, and an ongoing IMF review which will have an impact on the market.

    Keeping in view the ongoing result season, certain sectors and scrips are expected to stay under limelight.

    The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.0x (2022) compared to Asia Pacific regional average of 13.5x while offering a dividend yield of 8.8 per cent versus ~2.4 per cent offered by the region.

    READ MORE: Stocks make slight gain amid higher fuel price concerns

    The outgoing week commenced on a positive note as Russia and Ukraine entered negotiations, however things turned for the worse as talks broke down, which caused global crude oil prices to soar past $ 114/bbl.

    Moreover, announcement of an industrial package triggered buying mid-week, albeit, the positive momentum could not sustain for long as the market plummeted over the noise of Russia’s military attack on Ukraine and rising commodity prices.

    READ MORE: Stocks shed 289 points on high global commodity prices

    Furthermore, the trade deficit rose to $ 32 billion, increasing 82 per cent during July – February 2021/2022 and inflation rose over 12 per cent YoY, which kept the index under pressure as well.

    The market closed at 44,551 points, rising 567points (up by 1.2 per cent) WoW.

    Sector-wise positive contributions came from i) Oil & Gas Exploration Companies (402 points), ii) Technology & Communication (129 points) iii) Fertilizer (95 points), iv) Chemical (24 points) and v) Power Generation & Distribution (19 points). Whereas, sectors which contributed negatively came from i) Cement (67 points), ii) Oil & Gas Marketing Companies (12 points), iii) Insurance (12 points), iv) Automobile Assembler (11 points), and v) Leather & Tanneries (8 points).

    READ MORE: Stocks stay bullish on major relief package

    Scrip-wise positive contributors were PPL (169 points), OGDC (136 points) TRG (117 points), POL (74) and EFERT (37 points). Meanwhile, scrip-wise negative contribution came from LUCK (39 points), MCB (34 points), PSO (18 points), DGKC (17 points) and DAWH (16 points).

    Foreign selling continued this week, clocking-in at $ 0.97 million compared to a net sell of $ 3.24 million last week. Major selling was witnessed in E&P’s ($ 1.5 million) and Banks ($ 1.4 million). On the local front, buying was reported by Banks ($ 2.4 million) followed by Brokers ($ 2.1 million). Average volumes clocked-in at 215 million shares (down by 5 per cent WoW) while average value traded settled at $ 43 million (up by 12 per cent WoW).

  • Bitcoin to Pak Rupee on March 05, 2022

    Bitcoin to Pak Rupee on March 05, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs6,958,539.72 on March 05, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,443,887.81 on March 04, 2022.

    The rate of Bitcoin in US Dollar (USD) is $38,856.98 on March 05, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $41,490.96 on March 04, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Bitcoin to Pak Rupee on March 04, 2022
  • Ripple to Pak Rupee on March 05, 2022

    Ripple to Pak Rupee on March 05, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs128.90 on March 05, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs131.86 on March 04, 2022.

    The rate of Ripple in US Dollar (USD) is $0.72 on March 05, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.73 on March 04, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on March 04, 2022
  • Dogecoin to Pak Rupee on March 05, 2022

    Dogecoin to Pak Rupee on March 05, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs21.92 on March 05, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.77 on March 04, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.12 on March 05, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.13 on March 04, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on March 04, 2022
  • Stocks gain 25 points in range bound trading

    Stocks gain 25 points in range bound trading

    KARACHI: Pakistan stocks gained 25 points on Friday in a range bound trading observed throughout the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,551 points as against previous day’s closing of 44,526 points, showing an increase of 25. points.

    READ MORE: Stocks make slight gain amid higher fuel price concerns

    Analysts at Arif Habib Limited said that the market opened on a positive note and stayed range bound throughout the day due to expectation of unchanged policy rate in upcoming monetary policy.

    Main board activity remained dull. In the last trading hour, value buying was observed.

    READ MORE: Stocks shed 289 points on high global commodity prices

    Sectors contributing to the performance include Fertilizer (+62.3 points), Cement (+22.4 points), Technology (+19.6 points), Banks (10.2 points) and Chemicals (+7.9 points).

    READ MORE: Stocks stay bullish on major relief package

    Volumes decreased from 188.7 million shares to 134.8 million shares (-28.6 per cent DoD). Traded value also decreased by 35.7 per cent to reach US$ 26.7 million as against US$ 41.5 million.

    Stocks that contributed significantly to the volumes include FLYNGR1, TRG, YOUW, WTL and GGL.

    READ MORE: Stocks gain 477 points amid negative sentiments