Author: yasir

Reinforcing its position as a global leader in advanced energy storage and solar solutions, Livoltek has announced the signing of a strategic Memorandum of Understanding (MoU), alongside the EPC agreement between Hub Salt and Optimisen, for the deployment of a 2.35MWh Battery Energy Storage System (BESS) integrated with a 1.44MW solar PV system at the Hub Salt Refinery in Sindh. Powered by Livoltek’s advanced technology, this milestone marks the company’s first high-capacity BESS deployment in Pakistan and underscores its growing footprint in South Asia. The project will be executed by Optimisen as the EPC partner, combining advanced engineering expertise with…

ABHI Microfinance Bank Ltd. has entered into a strategic partnership with REDtone Group, a multi-country telecom, engineering, and digital transformation firm, to introduce enhanced Employee Banking Services designed to support REDtone’s workforce with greater financial convenience and accessibility. The Memorandum of Understanding (MOU) was signed on recently at a formal signing ceremony, where Asif Iqbal, Chief Financial Officer – REDtone Group, and Muhammad Umer Rauf, Head Transaction & Employee Banking – ABHI Microfinance Bank, signed on behalf of their respective organizations. The ceremony was attended by representatives from both institutions. Through this collaboration, employees of REDtone Group will gain access…

FrieslandCampina Engro Pakistan Limited (FCEPL), a leading multinational in the dairy and nutrition sector, has become the first company in Pakistan’s dairy industry to partner with State Life Insurance Corporation of Pakistan (SLIC), the country’s largest life and health insurer, to introduce a dedicated life insurance programme for dairy farmers. The pioneering initiative aims to provide financial security insurance coverage for over 1,500 farmers and their families under the Dairy Farmers Programme. As part of the company’s ongoing commitment to ‘Doing Dairy Right’; that encompassesfarmer welfare and sustainable livelihoods, the customized insurance “Dairy Farmers Insurance Programme.” is designed to support…

TECNO has officially launched the SPARK 50 in Pakistan, a value-driven smartphone designed to deliver long-lasting battery performance, durability, and reliable connectivity. Available at an accessible price segment, the SPARK 50 combines a powerful 7000mAh battery, a smooth 120Hz display, and a modern design to support the everyday needs of today’s connected users.At the core of the SPARK 50 is its 7000mAh Long-lasting Battery, engineered for extended usage without frequent charging. Supported by AI intelligent charging, the device is designed to optimise power efficiency and maintain long-term battery health. With an upgraded lifespan of up to 1200 charge cycles, the…

Sitara Petroleum Service Limited (SPSL) has successfully concluded its book-building phase on May 5, 2026, with the strike price determined at PKR 18.90 per share, the upper limit of the price band, reflecting strong and decisive institutional demand. The IPO was oversubscribed 7 times of the size. With the conclusion of this IPO, Sitara Petroleum Service IPO becomes the third largest IPO after Interloop and Airlink. The offering attracted investor interest of over PKR 11.7 billion, highlighting the depth of demand from institutional investors and high-net-worth individuals. The IPO comprises a total offering of 279.9 million shares, representing 16.66% company’s…

Novo Nordisk, the Danish leading global healthcare company, marked an important milestone in Pakistan by launching its “Live Lighter” initiative for people living with obesity at a grand event held at the Mohatta Palace, in Karachi. The event brought together healthcare leaders, policymakers, media, and influencers to address one of the country’s most pressing yet misunderstood health challenges, obesity. Despite its growing prevalence both globally and in Pakistan, obesity continues to be viewed through a lens of personal responsibility, often delaying timely and appropriate care. It is closely linked to more than 200 medical conditions, including type 2 diabetes, cardiovascular…

Sitara Petroleum Service Limited’s initial public offering (IPO) book building has achieved the cap price of PKR 18.90 within just 10 minutes of opening, marking the fastest-ever book building transaction to reach the cap price in the history of the Pakistan Stock Exchange (PSX). The exceptional investor response saw the issue fully subscribed in record time, underscoring strong demand from institutional investors and high-net-worth individuals at the upper end of the price band. The rapid price discovery at the cap level highlights robust investor confidence in Sitara Petroleum’s business fundamentals, scalable fuel station management model, and its expanding logistics and…

Supernet Technologies Limited (STL) has announced its first financial results following merger with Supernet Limited (SNL), for the nine months ended March 31, 2026, delivering a strong performance. The Company reported a topline revenue of Rs 5.72 billion on a consolidated basis, which translated into a gross profit of Rs 1.38 billion and operating profit of Rs 604 million. Profit before taxation for STL and its subsidiaries stood at Rs 483 million, while profit after tax reached Rs 334 million, resulting in earnings per share (EPS) of Rs 2.89. These results are not comparable with the prior period, which include…

Jubilee Life Insurance, the country’s largest private sector insurance company, Kashf Foundation and United Nations Development Programme (UNDP) jointly launch the “Khushal Mustaqbil Takaful (KMT),” an innovative micro-savings and protection product designed to strengthen the financial resilience of women from underserved communities. The strategic collaboration was formalized at the Kashf Foundation Head Office in Lahore, with representatives from the UNDP also present to support marking a significant milestone in advancing financial inclusion and gender responsive insurance solutions. Designed specifically for Kashf Foundation’s women borrowers, KMT is a yearly renewable endowment Takaful plan that combines protection with long term savings. Operating…

The Pak International Business Forum (PIBF) has welcomed the Government of Pakistan’s forward-looking decision to facilitate transit trade with Iran under the “Transit of Goods through Territory of Pakistan Order 2026,” terming it a landmark step toward enhancing regional connectivity and economic integration. Under the new framework, goods from third countries will be allowed to pass through Pakistan to Iran via designated corridors including Gwadar, Karachi, Port Qasim, and Taftan. PIBF noted that this initiative will significantly reduce logistical bottlenecks, improve supply chain efficiency, and position Pakistan as a vital regional trade and transit hub connecting South Asia, the Middle…