Author: Faisal Shahnawaz

  • Air Link signs deal for distribution of realme smartphones

    Air Link signs deal for distribution of realme smartphones

    KARACHI: Air Link Communications on Tuesday said it has signed an agreement for the distribution of realme smartphones, which is world’s number one fastest-growing brand.

    In a communication sent to Pakistan Stock Exchange (PSX), the company said it had entered into a distribution agreement of a full range of realme mobile devices and accessories, IoT products, TVs in Pakistan with Extra Tech (Private Limited).

    The company said that realme is the World No. 1 fastest-growing smartphones brand for five consecutive quarters.

    “realme is also the world’s fastest smartphone brand to reach 100 million smartphones sales cumulatively worldwide,” the company added.

    Air Link Communication Ltd. is one of the largest smartphones distributors, manufacturers and retailers in Pakistan with over a decade-long brilliance in the telecom industry.

    “We have a nationwide network linked with over 16+ hubs and Regional offices, 1100 + wholesalers and 4,000+ retailers with after-sales support service centres in all major cities of Pakistan,” according to the company.

    The company is the official partner of leading global brands that include Samsung, Huawei, Tecno, TCL, Alcatel, iTel and is Apple Authorised Reseller.

    Airlink recognizes the importance of access to technology for a better, more digitally literate Pakistan. Therefore, the company has worked towards the provision of affordable technology to every household of this country.

    The vertical and backward Integration of the business supports airlink’s vision of putting Pakistan on the global technological map by synchronizing its business functions for bringing innovation for the betterment of its consumers.

    Keeping in line with the company’s vision, we established a state-of-the-art smartphone manufacturing facility which is going to produce top-notch products that will enable us to take technology to every nook and corner of the country.

  • Pak Rupee hits fresh low at Rs178.19 to dollar

    Pak Rupee hits fresh low at Rs178.19 to dollar

    KARACHI: The Pak Rupee hit a fresh low at Rs178.19 to the dollar on Tuesday after falling two paisas in the interbank foreign exchange market.

    The local currency further declined from the last day’s closing of Rs178.17, which was the previous historic low.

    The foreign exchange market witnessed dollar demand for import and corporate payment during the day. However, banks assured dollar supply against the demand, currency experts said.

    They said that following restriction imposed by the central bank on buying of the foreign exchange by individuals from open market, the fall in rupee value was slowed down but continued.

    The State Bank of Pakistan (SBP) last week imposed curbs on foreign exchange buying by individuals from the open market in order to discourage speculative gains. As per restrictions an individual can buy a maximum of $10,000 per day and $100,000 in a year.

    The currency experts said that rising import bills and widening of the current account deficit remained a major threat to rupee value.

    READ MORE: SBP sets limits for sale of foreign exchange to individuals

  • FBR to facilitate duty, tax payments on Dec 30, 31

    FBR to facilitate duty, tax payments on Dec 30, 31

    ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday announced to facilitate taxpayers by directing tax offices to observe extended working hours on December 30-31, 2021.

    (more…)
  • Customers’ exchange rates on December 28, 2021

    Customers’ exchange rates on December 28, 2021

    Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) released the official exchange rates for December 28, 2021, providing customers with crucial information based on the weighted average rates of commercial banks.

    (more…)
  • Dogecoin to Pak Rupee on December 28, 2021

    Dogecoin to Pak Rupee on December 28, 2021

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs 32.25 on December 28, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs33.99 on December 27, 2021.

    The rate of Dogecoin in US Dollar (USD) is $ 0.18 on December 28, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.19 on December 27, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In 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 n not a recommendation buy, sell or hold any security or financial product.

  • Ripple to Pak Rupee on December 28, 2021

    Ripple to Pak Rupee on December 28, 2021

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs164.19 on December 28, 2021 in open exchange market. The rate of Ripple has been calculated and compared with the rate Rs158.78 on December 27, 2021.

    The rate of Ripple in US Dollar (USD) is $0.89 on December 28, 2021 in open exchange market. The rate of Ripple has been calculated and compared with the rate $0.92 on December 27, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In 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 December 28

    Bitcoin to Pak Rupee on December 28

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs8,781,255.61 on December 28, 2021 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs9,066,893.57 on December 27, 2021.

    The rate of Bitcoin in US Dollar (USD) is $49,208.91 on December 28, 2021 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate $50,851.57 on December 27, 2021.

    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 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.

  • Stock market remains choppy on upcoming mini-budget

    Stock market remains choppy on upcoming mini-budget

    KARACHI: The stock exchange remained choppy and lost 205 points on Monday owing to the expected mini-budget to be tabled by the government this week.

    The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 43,913 points as against last Friday’s ending of 44,118 points, showing a decrease of 205 points.

    READ MORE: Weekly Review: market to move with mini-budget

    Analysts at Arif Habib Limited said that the market remained choppy due to the upcoming mini-budget.

    Profit-taking was witnessed in the last trading hour while the market battled between the bulls and bears throughout the day.

    Mainboard volumes remained on the dull note due to lack of any trigger whereas activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.

    READ MORE: Stocks end down by 149 points on falling forex reserves

    Sectors contributing to the performance include Oil & Gas Exploration Companies (-63 points), Technology & Communication (-55 points), Power Generation & Distribution (-34 points) Commercial Banks (-33 points) and Food & Personal Care Products (-20 points).

    READ MORE: CGT on disposal of securities to be collected on Dec 30

    Volumes decreased from 223.4 million shares to 114.7 million shares (-48.7 per cent DoD). Traded value also decreased by 39.8 per cent to reach US$ 24.8 million as against US$ 41.2 million.

    Stocks that contributed significantly to the volumes include CNERGY, TRG, UNITYR3, UNITY and TELE.

    READ MORE: CGT rates on disposal of securities during Tax Year 2022

  • SBP issues KIBOR rates on December 27, 2021

    SBP issues KIBOR rates on December 27, 2021

    KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of December 27, 2021.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7210.22
    2 – Week9.7710.27
    1 – Month9.8410.34
    3 – Month10.1010.35
    6 – Month10.7210.97
    9 – Month10.7911.29
    1 – Year11.0611.56
  • Customers’ exchange rates on December 27, 2021

    Customers’ exchange rates on December 27, 2021

    KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates for December 27, 2021. The exchange rate is on the basis of weighted average rates of commercial banks.

    The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients.

    The banks provide their indicative exchange rates for commercial transactions with customers.

    CURRENCYBUYINGSELLING
    AED48.466348.5783
    AUD128.6290128.9112
    CAD138.8012139.1101
    CHF193.4703193.8961
    CNY27.950528.0121
    EUR201.3682201.8441
    GBP238.4478238.9953
    JPY1.55441.5579
    SAR47.382347.4909
    USD177.8921178.3149