Business Trends

SBP amends foreign exchange regulations to facilitate exports

SBP amends foreign exchange regulations to facilitate exports

The State Bank of Pakistan (SBP) has notified revisions in foreign exchange regulations for export of goods from Pakistan. The key changes include amendments in regulations to facilitate export transactions through the Pakistan Single Window when it becomes operational. This will eliminate the requirement of Electronic Form-E (EFE) for carrying out exports from Pakistan, said…

PepesiCo selects PTCL for nationwide connectivity services

PepesiCo selects PTCL for nationwide connectivity services

Pakistan Telecommunications Company Limited (PTCL) has signed a contract with PepsiCo Pakistan to provide premium connectivity services at their multiple sites across Pakistan, said a press release. “Zarrar Hasham Khan, Chief business Services Officer, PTCL and Sadaf Saad, Chief Information Officer, PepsiCo Pakistan, signed the contract during a ceremony held at PepsiCo Pakistan Head Office…

Government of Pakistan, ITFC sign new framework agreement

Government of Pakistan, ITFC sign new framework agreement

The International Islamic Trade Finance Corporation (ITFC) signed a 3-Year Framework Agreement for a cumulative amount of US$4.5 billion with the Government of Pakistan in order to provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea, said a press release on Monday. “Within the context of…

Authorized branches to observe extended banking hours on June 30

Authorized branches to observe extended banking hours on June 30

The State Bank of Pakistan today notified, “in order to facilitate the collection of Government receipts / duties / taxes, it has been decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and authorized branches of National Bank of Pakistan (NBP) will observe extended banking hours till 8:00 P.M. on June 30, 2021…

Honda holds world premiere of the all-new Civic Hatchback

Honda holds world premiere of the all-new Civic Hatchback

Honda Motor Co., Ltd. on Thursday held the world premiere of the all-new Civic Hatchback, which is scheduled to go on sale this fall. Honda is planning to make the official announcement of this new model in August, said a news release. “At the world premiere, which was held online, Honda unveiled the exterior and…

Woven Alpha, Mitsubishi Fuso collaborate on latest HD mapping tech for ADAS

Woven Alpha, Mitsubishi Fuso collaborate on latest HD mapping tech for ADAS

Woven Alpha, Inc. (Woven Alpha), a group company of Woven Planet Holdings, Inc. (Woven Planet), a subsidiary of Toyota Motor Corporation (Toyota), has agreed to collaborate with Mitsubishi Fuso Truck and Bus Corporation (MFTBC) to explore and advance safety for Advanced Driver Assistance Systems (ADAS) with its Automated Mapping Platform (AMP), Toyota said in its…

Engro, DSS establish partnership to better manage risk across group companies

Engro, DSS establish partnership to better manage risk across group companies

DuPont Sustainable Solutions (DSS) and Engro Corporation Limited have finalized a partnership agreement to introduce a risk-based framework, programme, and methodology that will allow for consistent, sustained management of risk exposure across all group companies, Engro said in its recent press release. “Engro Corporation is a highly diverse conglomerate, with businesses active across four verticals,…

PSX announces launch of 90-day deliverable futures contracts from August 2021

PSX announces launch of 90-day deliverable futures contracts from August 2021

The Pakistan Stock Exchange (PSX) has introduced a new futures eligibility criteria and communicated the launch of the 90-day maturity deliverable futures contracts (DFC) with effect from DFC August 2021 which shall start from July 26, 2021, said a media release. “As per the new criteria, there shall be no segregation of A, B categorization,…

Aramco raises $6 billion through the world’s largest US-dollar corporate Sukuk

Aramco raises $6 billion through the world’s largest US-dollar corporate Sukuk

The Saudi Arabian Oil Company (Aramco) announced it has successfully raised $6 billion, following the sale of US dollar-denominated Shariah-compliant securities to leading institutional investors, said a news release. “The issuance comprised three tranches of senior unsecured Sukuk trust certificates issued under Aramco’s newly established International Sukuk Program, with the funds raised allocated for general…

Ericsson gets 5G core contracts from Vodafone in Germany and UK

Ericsson gets 5G core contracts from Vodafone in Germany and UK

Vodafone has selected Ericsson cloud-native dual-mode 5G Core technology to power its core networks in Germany and the UK, Ericsson said on Thursday. “The deployment is a significant step towards delivering the full potential of 5G services and future innovation to Vodafone’s consumer and enterprise customers in both countries. “In both markets, Ericsson will support…