VIS reaffirms Entity Ratings of Novatex Limited

Karachi, July 29, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed entity ratings of Novatex Limited (Novatex) at ‘AA/A-1+’ (Double A/A-One Plus). Long Term Rating of AA reflects high credit quality, and strong protection factors. Risk is modest but may vary slightly from time to time because of economic conditions. Short Term Rating of A-1+ indicates high certainty of timely payment; short tRead More…

VIS Reaffirms Ratings of Haleeb Foods Limited with ‘Negative’ outlook

Karachi, July 29, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Haleeb Foods Limited (HFL) at ‘A-/A-2’ (Single A-Minus/A-Two). The medium to long-term rating of ‘A-’ signifies good credit quality with strong protection factors. Moreover, risk factors may vary with possible changes in economy. The short-term rating of ‘A-2’ denotes good certainty of timely paymRead More…

PTCL signs strategic contract with Whale Cloud Technology

Islamabad, July 29, 2021 (PPI-OT): Pakistan Telecommunication Company Limited (PTCL) has signed a strategic contract with Whale Cloud Technology for the transformation of its mission critical Charging and Billing platform.
Nadeem Khan, Acting CEO and Group CFO, PTCL and Ufone and Chen XiaoWei, President South Asia, Whale Cloud Technology, signed the contract during a ceremony held at PTCL HQ, Islamabad. Jafar Khalid,Read More…

Infinix partners with Free Fire to encourage Esports in Pakistan

Lahore, July 29, 2021 (PPI-OT): Infinix, a leading smartphones brand has partnered with ‘Free Fire’ – a globally popular digital gaming platform. This resourceful collaboration will promote Esports among the Pakistani youth, as the youngsters around the world are passionately engaging in this thrilling new entertainment activity. Esports is now creating great socio-economic opportunities for people all overRead More…

PACRA Assigns Preliminary Rating to Gas and Oil Pakistan Limited – PP Sukuk

Lahore, July 29, 2021 (PPI-OT): The rating reflects strength of the security structure. This strength primarily derives from a two-tiered liquid support structure. The first is a Reserve Account, which caters for one installment kept in advance throughout the tenor of the instrument. The second is that Debt Payment Account will be funded one month before the installment getting due. The instrument has also been securRead More…

PCJCCI keen to set up fool-proof Mechanism of Commercial arbitration for sustainable development in the foreign investment and international trade sector

Lahore, July 29, 2021 (PPI-OT): Mr. S.M. Naveed, President Pakistan China Joint Chamber Of Commerce and Industry (PCJCCI) have urged to organize a fool-proof Mechanism of Commercial arbitration for sustainable development in the foreign investment and international trade sector. He was addressing a webinar today co-sponsored by PCJCCI in collaboration with the University of Oxford (China, Law and Development), FaisalRead More…

Government to focus on Central Asia and other potential markets for exports promotion: TDAP

Islamabad, July 29, 2021 (PPI-OT): The government has planned to focus on many new markets including Central Asian States, Afghanistan, Malaysia as these are potential markets for promoting Pakistan’s trade and exports. This was stated by Shehzad Ahmed Khan, Director General, Trade Development Authority of Pakistan, Islamabad during his visit to the Islamabad Chamber of Commerce and Industry along with Muhammad IshRead More…

Industries foresee massive breakdown and disaster in the wake of minimum wage of Rs25,000 notified by Sindh Government

Karachi, July 29, 2021 (PPI-OT): The industries of Sindh particularly of Karachi are highly aggrieved and perturbed by the controversial move of the Sindh Government to increase Minimum Wage from Rs17,500/- to Rs25,000/- without following due process of law and in contrary to the provisions of Sindh Minimum Wage Act 2015 and ILO’s minimum wages fixation convention 1970 which have deprived the industries of Sindh frRead More…

Motiwala urged the Government to develop proactive measures to safeguard losses during force majeure situations

Karachi, July 29, 2021 (PPI-OT): Despite the prevailing risk regime and challenging geopolitical landscape, specifically affecting business conduct at Pak-Afghan border, PAJCCI believes in persistent efforts to keep B2B interactions across the border thriving. Chairman PAJCCI while appreciating the team at both the sides for conducting its first meeting under the series of stakeholders meeting at Karachi and Kabul, sRead More…

Murad Ali Shah urges ulemas to foster unity, observe Ashura as per code of conduct

Karachi, July 29, 2021 (PPI-OT): Owing to dangerous spike in the fourth wave of Coronavirus, situation in Afghanistan and on-going monsoon season Sindh Chief Minister Syed Murad Ali Shah has urged Ulemas of different school of thoughts to promote and strengthen sectarian harmony and observe Ashura in accordance with strict code of conduct issued by the government.
This he said while presiding over a meeting of UlemasRead More…