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SECP Registered Over 4,000 New Companies This Year

SECP Registered Over 4,000 New Companies This Year


admin | January 9, 2018 | category: Business

SECP Registered Over 4,000 New Companies This Year. With the registration of 4,954 new companies during the first half of the current fiscal year with the Securities and Exchange Commission of Pakistan (SECP) the number of companies have been increased to 83,879. According to SECP sources, as compared to last year, there has been 44 percent growth registered in the new companies this year that indicate the growth in the industrial sector of the country.

The details released by the SECP , there has been massive increase in number of new companies due to various reform measures taken by the government and simplification of incorporation procedure, reduction in fee. About 82 percent of companies were registered as private limited companies, while around 16 percent were registered as single-member companies.

The data indicated that two percent of the companies were registered as public listed, non-profit associations, trade organizations and foreign companies> The trading sector took the lead with the incorporation of 783 companies, services with 729, construction with 625, information technology with 599, tourism with 274, food and beverages with 164, engineering with 155, education with 148, corporate agricultural farming with 126, real estate development with 106, transport with 100, pharmaceutical with 86, textile with 77, communication with 76, fuel and energy with 75, auto and allied and healthcare with 71 each, cable and electric goods with 58, broadcasting and telecasting with 57, chemical with 55, power generation with 47, paper and board with 46, mining and quarrying with 45, steel and allied with 38, cement with 9 and 334 companies were registered in other sectors.
Moreover, 35 foreign companies were also registered by SECP in Karachi, Lahore and Islamabad while foreign investment has been reported in 329 new companies.
These companies have foreign investors from Afghanistan, Australia, Austria, Azerbaijan, Belarus, Belgium, Canada, Cayman Islands, China, Denmark, Egypt, Germany, Greece, Hong Kong, Indonesia, Iran, Ireland, Italy, Jordan, South Korea, Lebanon, Macedonia, Malaysia, Mauritius, Mexico, Netherlands, Nigeria, Norway, Philippines, Poland, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UAE, the UK, Ukraine and the US.

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Pakistan

Q2 Sees a Small Dip in Global Confidence but Outlook for Pakistan is Improving


Sumera Saeed | July 20, 2017 | category: Business

The global economic outlook remains positive, despite a slight drop in confidence, compared to the last couple of years, according to the latest Global Economic Conditions Survey (GECS) released today.

The quarterly survey of finance professionals including CFOs, conducted by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), found:

  • The number of respondents expecting conditions to worsen exceeds those expecting conditions to improve by 10 percentage points – yielding the second-highest confidence index in two years and better than the average since the survey began.
  • North America was the most confident region in Q2, followed closely by South Asia. Confidence levels are lowest in the Middle East.
  • Confidence has fallen in both OECD (Organisation for Economic Co-operation and Development) and non-OECD economies. The confidence is higher in non-OECD economies than in OECD economies for only the second time since 2011. Economic confidence in the UK has plummeted in the second quarter, due to political uncertainty, and is now at its lowest level since the final quarter of 2011.
  • Developed economies have continued to grow at a decent pace, but emerging economies have reported much bigger improvements. The economies of Brazil, Russia, India and China are all now growing simultaneously for the first time in over two years.

According to the survey, after a number of challenging years, the outlook for Pakistan is also improving.Two main factors are likely to support growth over the next few years. The first is increased Chinese investment in infrastructure projects as part of the China-Pakistan Economic Corridor. All thep rojects added together are expected to come to US$62bn, which is the equivalentof 17% of Pakistan’s 2015 GDP. Low interest rates, which have been slashed over the past few years in response to a sharp fall ininflation, will also boost growth.

ACCA’s senior business analyst, Narayanan Vaidyanathan, says: ‘Healthy employment prospects in the US with reasonable real wage growth will help. Meanwhile, the Eurozone may benefit from easing austerity, and investor confidence after parties opposing the European Union failed to deliver in recent elections’.

Raef Lawson, executive vice president at IMA, says ‘a combination of a gentler than expected slowdown in China and consumption growth driving recovery in the US and elsewhere has led to a fairly positive global outlook for this quarter.’

‘The IMF recently upgraded its forecasts for global growth to 3.5% in 2017 and 3.6% in 2018, up from just 3.1% last year. Given the improving outlook, this is looking more than achievable.’

Six Pakistanis Recognized Among Top 1% of the Global-tech Talent

Six Pakistanis Recognized Among Top 1% of the Global-tech Talent


Sumera Saeed | March 29, 2017 | category: News

Six Pakistanis Recognized Among Top 1% of the Global-tech Talent

Crossover hires Chief Architects in Java and Ruby in a single day with Job Offers of US$ 600,000

Six Pakistanis made Pakistan proud by securing jobs at the Crossover international hiring tournament. These six individuals are now being considered among the top 1 percent of the global talent in the world. 61 programmers from Punjab and Sindh participated in the gaming competition, where six ended up securing USD 100,000 per annum per candidate.  More than 500 senior tech talent from across Pakistan registered for the competition.

Andy Tryba, Chief Executive Officer, Crossover in a message said that Crossover is planning to run more tournaments in Karachi and Islamabad based on Lahore experiment to hire over 200 senior software architects in Pakistan and bring an additional $20M/year worth of employment to Pakistan economy in 2017.

The first National Freelancing Convention #NFC17 was held under the auspices of Punjab Information Technology Board (PITB), a unique initiative jointly organized by the PITB and Crossover, participated by more than 500 applicants through highly gamified and competitive process of three rounds. The round finished with a technical interview for on the spot job offer by Crossover.

The leading work from home company, Crossover, hired six (o6) Chief Architects in Java and Ruby in a single day. The successful candidates of technical interview have been given full time / remote job offer paying worth $100, 000/- per year. Crossover also paid a sign up winning bonus of $5,000 to the champion of the tournament. Crossover has successfully tested this concept in Turkey, Russia, Romania, Poland and Ukraine.

Chief Minister Punjab, Muhammad Shahbaz Sharif appreciated the talent hunting activity by Crossover and hoped that the activity would benefit the economy of Pakistan.  Advisor to Chief Minister Punjab and Chairman PITB, Dr. Umar Saif said that technology was creating jobs around the globe while incubators, Startups and freelancing co-working spaces were playing pivotal role in this regard. Pakistan being the third largest English speaking and 9th mobile user country, with 60 % population comprising of youth in the world has vast potential to exercise technology in every field, he added.

Crossover (also known as Crossover for Work) not only connects companies to the best talent from around the world, but also provides a seamless end-to-end solution for remote team management. Crossover connects talent from around the globe with companies who are looking to hire only the best. Crossover has more than 2200 people from 98 different countries working full time (40 hrs/wk) for its clients.

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Full Moon & Lunar Eclipse (Chand Grahan) To Occur on 16th September 2016


Sumera Saeed | September 14, 2016 | category: Lunar Eclipse in Pakistan

Full Moon & Lunar Eclipse (Chand Grahan) To Occur on 16th September 2016

The Lunar Eclipse, Chand Grahan is to take place on Friday Night in Pakistan and India

There will be full Moon and the lunar eclipse or  Chand Grahan on 16th September 2016. The final Lunar Eclipse of the year 2016 will be witnessed by the people around the world.

The continents including Europe, Australia, Asia, West in South America, Pacific, Atlantic, Indian Ocean, Arctic, Antarctica, and Africa will see the Harvest moon eclipse (In skylore, the Harvest Moon is the full moon nearby to the autumn equinox, usually occurs in September, may also happens in October depending on occasion) on Friday night, whereas South America and North America will not be able to see the third and final chand grahan of the year 2016.

The people will living in South America and North America will have to wait until 2017 for watching the Lunar Eclipse.

The full moon in September, named as harvest moon because it’s a time when farmers are all set to harvest their crops.

The full moon in September had also got different names like the Barley Moon, the Worm Moon, the Full Corn Moon and the Crow Moon.

The third chand Grahan of the year 2016 will be a Penumbral lunar eclipse (A penumbral lunar eclipse happens when the Sun, Earth, and Moon arrange in almost in a straight line.) and will different from a total eclipse.Full Moon & Lunar Eclipse (Chand Grahan) To Occur on 16th September 2016

In the third lunar eclipse or chand grahan 2016 the full moon will pass through the umbra, or the blackest part of the Earth’s shadow, and the moon will turn into red and orange color.

Time of Third Lunar Eclipse 2016:

The third lunar eclipse 2016 will be visible to everyone without any special equipment. In other words people will see the chand grahan with their eyes. The penumbral lunar eclipse will happen at Friday night, 16th September 2016, starting at 09:55 pm.

Lunar Eclipse 2016 in Pakistan:

The lunar eclipse or chand grahan will be visible in the different cities of Pakistan including Lahore, Karachi, Multan and other cities.

The duration of the Lunar Eclipse in Pakistan will be of 3 hours. The Pakistan Meteorological Department (PMD) said that the lunar eclipse will occur in the country starting from 09:55 pm and will last nearly at 1:54 PM. So the duration of chand grahan will be exactly three hours, 59 minutes and 16 seconds.

The weather may cause hurdle during the witness of the lunar eclipse in Pakistan but the sky will clear in different regions of the country including, Upper Punjab, Sind, South Punjab Balochistan, and Azad Jammu and Kashmir, according to PMD.

A detailed map provided by NASA shows the complete information regarding Lunar eclipse 2016.

Full Moon & Lunar Eclipse (Chand Grahan) To Occur on 16th September 2016

Lunar Eclipse in Lahore:

Well for the desperate Lahories the chand grahan will be visible in Lahore as the weather condition is good. The full moon will be there and the people of Lahore will witness the entire moon eclipse.

Lunar Eclipse 2016 in India:

The Lunar eclipse or chand grahan 2016 will also be visible in the different cities of India including, New Delhi, Pune, Agra, Uttar Pardesh, Hyderabad,  Telangana and other cities.

The chand grahan in India will took place at 10:24 PM of Friday night and will end at 2:23 am.

First Lunar Eclipse 2016:

The first Lunar Eclipse of the year 2016 had occurred in March and was witnessed by the people of several countries including United States, Canada, Iceland, Russia, Turkmenistan, Norway, Australia and other countries of the region.

Second Lunar Eclipse 2016:

The second Lunar Eclipse of the year 2016 occurred on 18th August 2016, but most of the viewers were not able to witness the Chand Grahan because according to monitoring agencies, the Lunar Eclipse was nearly be visually unnoticeable. Only the viewers in Pacific Ocean near continents Australia and the Americas were to witness the Chand Grahan. The monitoring agencies had said that the chances of seeing Lunar Eclipse were very rare.

Lunar Eclipse 2016 Visibility in different Countries of the World:

The lunar eclipse or chand Grahan will be visible in different countries of the world of the world including Kuwait, Singapore, Jerusalem, Israel, Kazakhstan, Cairo, Egypt, etc.



Lunar Eclipse (Chand Grahan) in Pakistan and Other Countries on Thursday 18th August 2016


Sumera Saeed | August 18, 2016 | category: Lunar Eclipse In Pakistan

Lunar Eclipse (Chand Grahan) in Pakistan and Other Countries on Thursday 18th August 2016

The Lunar Eclipse, Chand Grahan is to take place today on Thursday 18th August 2016 in Pakistan and other countries of the world.   it will be the second Lunar Eclipse of the year 2016, but most of the viewers will not be able to witness the Chand Grahan because according to monitoring agencies, the Lunar Eclipse will nearly be visually unnoticeable. Only the viewers in Pacific Ocean near continents Australia and the Americas will be to witness the Chand Grahan. The monitoring agencies also said that the chances of seeing Lunar Eclipse are very rare.

The Chand Grahan will take place before the sunrise in western countries while in eastern countries it will happen in the afternoon.

The duration of the Lunar Eclipse or Chand Grahan will be of 18 minutes. The third Lunar Eclipse of the year 2016 will arise on 16th September, 2016 and people will be able to see the Chand Grahan in Europe, Africa, Asia and Australia continents. The duration of the third Lunar Eclipse or Chand Grahan will be four hours.

The first Lunar Eclipse of the year 2016 had occurred in March and was witnessed by the people of several countries including United States, Canada, Iceland, Russia, Turkmenistan, Norway, Australia and other countries of the region.