IBM ap­points Ghaz­an­far as Coun­try GM Pak

Pakistan Observer - - ECONOMY WATCH - STAFF REPORTER

IS­LAM­ABAD—IBM, Thurs­day, an­nounced the ap­point­ment of Ghaz­an­far Ali as Coun­try Gen­eral Man­ager, IBM Pak­istan. He suc­ceeds Hu­mayun Bashir who served as Pak­istan’s Coun­try Gen­eral Man­ager for six­teen years.

Ghaz­an­far will be re­spon­si­ble for IBM’s over­all busi­ness in Pak­istan with a fo­cus on de­ploy­ing IBM’s ad­vanced tech­nol­ogy ca­pa­bil­i­ties in Cog­ni­tive, Cloud Com­put­ing, Big Data and An­a­lyt­ics, Mo­bile and Se­cu­rity, to solve cur­rent and fu­ture needs of Pak­istan busi­ness and in­dus­try. fol­lowed by UK de­ci­sion to pull out from Euro­pean union, how­ever the in­dex made some re­cov­ery in the pre­vi­ous ses­sion yet it re­mained al­most static to­day with a slight drop of 0.03 points at 37783 lev­els here on Thurs­day.

It may be noted that the week started with Brexit blues drag­ging the mar­ket down by more than 400pts on in­tra-day ba­sis while mid-week wit­nessed im­proved in­vestor sen­ti­ment given mar­ket’s over­sold con­di­tion.

Con­trary to the ex­pec­ta­tion of in­flows as a re­sult of MSCI de­ci­sion to up­grade PSX sta­tus to emerg­ing mar­ket, the For­eign In­sti­tu­tional Port­fo­lio In­vest­ment (FIPI) recorded an out­flow of US$3.6mn dur­ing the week vs US$20.5mil­lion out­flow last week, whereas the av­er­age vol­ume traded fell by 8.1% WoW and the value of shares traded de­creased by 13.6% WoW.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.