Leading the charge in customer advocacy, Zong 4G has partnered with NayaPay Pvt. Limited to enable its customers to make digital payments for its services. The two organizations signed an agreement to that effect in Karachi.
This collaboration will facilitate customers to purchase Zong 4G’s mobile services directly through the NayaPay app. Customers can top-up their mobile balance, subscribe to prepaid bundles and recharge their Zong broadband devices using their NayaPay E-money account to complete the transaction.
As an Electronic Money Institution (EMI), NayaPay will enable users to open E-money accounts and make digital payments to each other and businesses conveniently. With this collaboration, both Zong 4G and NayaPay have taken a step towards digital financial inclusion for the socioeconomic development of the country.
Commenting on the partnership, Zong 4G’s official spokesperson, said: “With the surge in the demand for digital financial services, the partnership addresses th..
Category: Press Releases
SECP Links Short Selling With Uptick Rule in Futures Market
In the wake of COVID-19 and its unprecedented effect on global stock markets, the Securities and Exchange Commission of Pakistan (SECP), in consultation with market stakeholders and market infrastructure institutions, has decided that for the April 2020 contract, a short sale in 36 specific shares of the futures market shall be subject to an uptick rule.
This will ensure the provision of a required prior notice period to the market and retain liquidity in the rollover week. The uptick rule means that the shares of that relevant scrip have to be sold at a price higher than the last trade not lower.
Further, to support the mutual fund industry, the maximum period of borrowing by mutual funds for redemption purposes will be extended from existing 90 days to 360 days.
Moreover, the commission has allowed relaxing deposit requirements against the base minimum capital of TREC holders.
The requirement to perform biometric verification at the time of opening of the account is eased and the..
Bloodbath Continues at PSX as Index Drops to Its Lowest in 52 Weeks
PSX continued the free fall on Thursday as the benchmark index dropped by 1752.01 or 5.8% to 28,664.04 amid Coronavirus fears as Pakistan reported two deaths because of the virus.
It is the lowest level since March 2015. Another halt was seen in the market today as the KSE-30 Index dropped below 5% for five minutes triggering a halt for 45 minutes. Trading was halted for the sixth time since last week; KSE-30 Index down 6.9%
Adnan Sami Sheikh, a senior market analyst said the markets are in free fall, the whole system is at risk. He added that valuations are approaching throw away levels, but the fear of catching a falling knife is keeping investors support on the sidelines, while those funds with public money try to exit at any possible level.
Gohar Rasool, head of international sales at Intermarket Securities told Bloomberg, ”Market opened in halt territory due to pending sell orders from the previous session. The coronavirus is spreading in Pakistan forcing businesses to shut and..
Pakistan Reports First 2 Coronavirus Deaths in One Day; 301 Affected So Far
Pakistan reported its first two coronavirus deaths on March 18 Both deaths were reported from KP within hours Number of confirmed COVID-19 cases in Pakistan has risen to 301 Sindh has been affected the most with 208 confirmed cases so far Punjab has reported 33, Baluchistan 23, KP 19, AJK/GB 16, and Islamabad 2 cases Center and provinces continue to announce measures to curb the spread Pakistan reported its first two coronavirus deaths on March 18, both in Khyber Pakhtunkhwa. The first person who succumbed to the deadly disease was a 50-year-old man who had returned from Saudi Arabia and was being treated at Mardan Medical Complex (MMC). The second death followed within hours where a 36-year-old man from Hangu being treated at Peshawar’s Lady Reading Hospital lost his fight against the virus.
Meanwhile, confirmations of more positive cases continued to flood in throughout the day from all parts of the country. Azad Jammu and Kashmir (AJK) also reported its first positive case, a 45-ye..
WhatsApp Launches Coronavirus Information Hub
WhatsApp has announced the launch of two initiatives in support of the global fight against the Coronavirus pandemic: the global launch of the WhatsApp Coronavirus Information Hub in partnership with the World Health Organization and UNDP as well as a $1 million donation to the Poynter Institute’s International Fact-Checking Network (IFCN).
The WhatsApp Coronavirus Information Hub launches today at whatsapp.com/coronavirus to provide simple, actionable guidance for health workers, educators, community leaders, nonprofits, local governments and local businesses that rely on WhatsApp to communicate. The site also offers general tips and resources for users around the world to reduce the spread of rumors and connect with accurate health information.
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World Bank & ADB Approve $588 Million to Support Pakistan Against Coronavirus
The Ministry of Planning cleared an amount of $238 million from World Bank funding and endorsed another $350 million dollar funding offered by the Asian Development Bank (ADB) in support for the COVID-19 emergency response and to address the socio-economic disruption associated with it.
A special meeting of Concept Clearance Committee / CDWP was held on Wednesday under the Chairmanship of Deputy Chairman Planning Commission Mohammad Jehanzeb Khan.
Member Social Sector Dr. Shabnum Sarfraz, Member Private Sector Asim Saeed, DG Health Dr. Safi, Country Director, World Bank, Illango Patchamuthu, ADB Country Director Xiaohong Yang and representatives from EAD, Finance and health ministry were also present in the meeting.
Project concept titled “Pakistan National Emergency Preparedness and Response Plan for COVID-19” was presented and was subsequently approved.
The emergency project focus on taking measures through additional resources for strengthening the integrated disease surveillanc..
PTCL Supports Coronavirus Affected Families in Sukkur
Pakistan Telecommunication Company Limited (PTCL) is at the forefront to provide support to Coronavirus affected families in Sukkur in the shape of a package comprising of ration, medicines and preventive gear during the first phase.
Depending on the situation and in case the need arises, the company will continue with its efforts and extend support in different cities across Pakistan.
On this initiative, Rashid Khan, President & CEO, PTCL, said, “There is a dire need for companies and individuals to come forward and play their role to support those infected with this life-threatening virus. Being a national company, we stand with the nation during these tough times and will continue to support in our humble capacity”.
The organization takes pride in taking proactive measures for the well-being of its employees, customers and people of the country.
Kashmir Remains Disconnected as Coronavirus Pandemic Takes a Turn for Worse
Nearly eight million people live in the disputed state of Kashmir and all of them are deprived of reliable information, online classes, and many other facilities amidst the epidemic.
This is because the state has been cut off from all Internet facilities since it was plunged into a digital black hole back in August. This happened after the Indian government revoked an article of the country’s constitution that allowed the state to have the right to self-government.
This resulted in a complete shut down of communication in the region including phone lines and the internet to “to prevent militancy and curb the spread of misinformation”. In March, however, the government finally restored the state’s internet but at extremely slow speeds making it impossible to use most facilities.
A new government order that is going into effect on March 26 has further extended these restrictions in the region to “prevent misuse of social media applications” and reduce “terror activities”. However, loc..
Indian Army Refuses Entry to Indian Sports Journalists Returning from PSL Coverage
Indian army has reportedly denied access to a broadcast crew returning back to India after covering the Pakistan Super League (PSL) 2020 that came to an unfortunate end after a sharp rise in Coronavirus cases in the country.
According to reports, a group of 29 Indian sports journalists was stopped and denied entry into their country at the Wagah-Attari border crossing by the Indian army.
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Indian army high-ups have directed all 29 members of the broadcast crew to head to Dubai first and then catch a direct flight for India.
However, the broadcast crew has requested the Indian government to grant them entry from Wagah-Attari border crossing as going to Dubai during the pandemic could expose them to the Coronavirus. The crew has also pledged to undergo self-quarantine for 14 days once they step into India.
Ankit Rawat, one of the members of the crew abandoned by the Indian Army, took to Twitter to ..
Huawei Launches New AI to Diagnose Coronavirus
Information technology has played a pivotal role in China’s response to the novel coronavirus (COVID-19) outbreak. From proactive surveillance for rapid detection and diagnosis of infection to immediate isolation and rigorous contact tracing, IT has been a valuable tool. The AI-assisted radiological image interpretation of coronavirus and intervention has helped a lot in diagnosing COVID-19 patients quicker.
A similar cloud-based coronavirus pneumonia diagnosis service using AI-assisted CT image interpretation was launched by Huawei Cloud recently. The service has been developed in collaboration with Huazhong University of Science & Technology and Lanwon Technology.
This new service utilizes artificial intelligence, such as computer vision and medical image analysis. It will also help in alleviating the shortage of imaging doctors.
For the uninitiated, Coronavirus causes multiple lesions called fibrosis in the lungs. These lesions go through rapid changes, which is why multiple revi..
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