Lucky Core results

Lucky Core Industries announced a 330pc final cash dividend in its financial results for the year ended June 30, as per a press release. During the year, the company entered into a share purchase agreement with Morinaga Milk Industry for a partial divestment of approximately 26.5pc of the issued and paid-up share capital of NutriCo Morinaga.

Lucky Core reported strong growth across all key metrics. On a consolidated basis (including the result of the company’s subsidiary Lucky Core PowerGen Limited), LCI reported a net turnover of Rs109.5bn, representing a 26pc increase over the same period last year. The consolidated operating result stood at Rs14.8bn, which is higher by 24pc compared to the SPLY.

Profit after tax for the year under review, considering both continuing and discontinued operations was Rs17.8bn, showing a significant 101pc rise over the SPLY. Additionally, the earnings per share were Rs190, marking an impressive 107pc increase over the SPLY.

International Food and Agri Exhibition

Pakistan’s first International Food and Agriculture Exhibition is to be held on August 10-12, 2023, organised by the Trade Development Authority of Pakistan, according to a press release. The three-day event will feature 400+ products, 200+ exhibitors and 400+ international buyers at the Expo Center, Karachi.

This highly anticipated event aims to introduce global trade sectors to Pakistan’s abundant food and agricultural potential, with a strong focus on fostering B2B (business-to-business) models and driving exports to thrive in the country.

This event promises to be an unparalleled experience for pioneers of food and agriculture industries, investors, exporters, and international buyers from the USA, China, Canada, Saudi Arabia and more. This grand exhibition serves as a platform for them to explore new opportunities and facilitate strategic collaborations.

MCB, Visa collaboration

MCB Bank, a leading financial institution, is delighted to announce its strategic partnership with Visa, the global payments technology company, as per a press release. This collaboration will accelerate the development and adoption of digital payment solutions by leveraging cutting-edge technology and a shared vision of enhancing overall customer experience.

MCB Bank and Visa aim to create seamless and secure payment experiences, empowering customers to transact conveniently and offering enhanced accessibility to make payments effortlessly, both domestically and internationally, through a series of new technological solutions.

Zindigi’s tap to commute

Zindigi, powered by JS Bank, in collaboration with Mastercard, is set to revolutionise the mass transit system in Karachi, says its press release. This transformative partnership aims to enhance public transport accessibility, convenience, and financial inclusion for the city’s residents.

Zindagi will launch a state-of-the-art digital payment system driven by cutting-edge technology. In the initial phase, over one million customers will receive special Zindigi cards that offer a secure and effortless mode of payment for their public transportation needs.

The prepaid, open-loop contactless cards can be used to pay for daily commutes with a tap. With this solution, Zindigi and Mastercard continue their contribution to redefining the way Karachi commutes and helping the city’s transit ecosystem go completely digital. Seamless integration with the existing metro bus ticketing system will allow passengers to use their Zindigi cards to pay for their bus fares, eliminating the need for physical tickets and reducing the waiting time at ticket counters.

Bank Alfalah’s aid

Bank Alfalah, a leading commercial bank in Pakistan, reported the highlights of the first half of 2023 during phase two of its comprehensive rehabilitation and rebuilding initiative, which started with immediate rescue and relief in phase one in 2022.

With a steadfast commitment to empowering communities and promoting sustainable development, the bank has joined forces with esteemed partners. It has disbursed around Rs970m to address critical sectors such as healthcare, emergency care, housing, education, and livelihoods.

Under the visionary leadership of His Highness Sheikh Nahyan bin Mubarak Al Nahayan, Chairman of Bank Alfalah, who graciously donated $10m to devastating floods that hit Pakistan last year.

Bank Alfalah is embarking on phase two of its flood relief efforts, focusing on rehabilitation and rebuilding lives.

Published in Dawn, The Business and Finance Weekly, August 7th, 2023