Category: Business

ZAHID CHUGHTAI DUBAI (U.A.E)

U.S. Soybean Export Council (USSEC) successfully hosted the inaugural ‘Sustainasummit’ event dedicated to promoting sustainability and raising awareness about environmental issues in the South Asian region as we collectively strive towards Ending Hunger and achieving food security through the Sustainable Development Goals (SDGs) by 2030.

Over 100 participants from India, Nepal, Bangladesh, Pakistan, and Sri Lanka attended the event and discussed ideas and initiatives to urgently raise awareness amongst the South Asia populace regarding sustainability – whether it be food security, poultry, or aquaculture.

Industry stalwarts joined the conference to discuss and learn how the region can benefit from best sustainability practices and ensure that we collectively contribute towards protecting the planet without compromising on growth and productivity for future generations. The Summit also brought together leading experts, policymakers, and business leaders from all over the world to present innovative solutions and best practices for creating a more sustainable future.

The summit featured keynote speakers such as Juhi Gupta, Director of Sustainability, South Asia Markets, Tetrapak, Lucas Blaustein, Regional Agricultural Attaché, USDA Foreign Agricultural Service, George Chamberlain, President, Global SeaFood Alliance, Alka Upadhyay, Partner, Climate Change & Sustainability, EY, Rida Amjad, Communications Officer, United Nations Development Program (UNDP) among many others.

Topics such as USDA’s role in sustainability, how farmers in western markets are using sustainable practices to ensure the longevity of their lands as they pass on to the next generations, incorporating ESG to earn credibility, creating green supply chains, etc. to name a few.

Commenting on the success of the summit, Kevin Roepke, Regional Director, South Asia & Sub Sahara Africa, USSEC, said, “We believe that sustainability is a critical issue that requires collaboration and action from all sectors of society and the Sustainasummit is an important step in promoting sustainable practices and inspiring the much-needed change. During the summit, we heard three recurring themes – we’re in transformative and volatile times, supply chains continue to face challenges and the fact that consumers are calling for reduced carbon footprints and increased transparency.

I believe this platform provided an excellent forum to further collaborate so that players across markets can leverage from U.S. Soy’s superior quality, reliability, and sustainability innovations in response to address these challenges”. “We firmly believe that sustainability is not just an option, but it is a responsibility. We recognize the important role we play in protecting the environment for future generations and are dedicated to reducing our carbon footprint. Our goal is to create a more sustainable future and set a positive example for others to follow. USSEC’s inaugural Sustainasummit proved to be a dynamic and inspiring event that encouraged us to be a part of the solution and push ourselves to do better to create a sustainable future”, added Deeba Giannoulis, Head of U.S. Soy Marketing South Asia and SubSaharan Africa (SASSA), USSEC. “The event is a step in the right direction for the larger grower, buyer-seller ecosystem because sustainability’s fundamental principle is continuous improvement and that is exactly what the discussions highlighted. We look forward to continuing to encourage and partner with all stakeholders across the region to improve on this front with the help of science and technology. I am personally very confident that USSEC’s effort to encourage South Asia to incorporate more sustainable practices will turn out to be mutually beneficial to them as well as the planet in the years to come” added Dennis Fujan, a fourth-generation family farmer from Prague, Nebraska and a member of the American Soybean Association Board of Directors.

Attendees embraced the opportunity to network with like-minded individuals, learn about best practices, and participate in meaningful discussions on diverse subjects that can help us move the needle on the SDG goals.

The summit resulted in impactful discussions on a global level around renewable energy and clean technologies, sustainable agriculture and food systems, climate action and environmental conservation and corporate sustainability and responsible business practices. It highlighted how together, we can make a difference and ensure a healthy planet for generations to come.

Pakistan (Nut Desk)

Global IT and transportation platform, inDrive, has partnered with global risk intelligence provider, SHIELD, to ensure fraud prevention, highest levels of trust, transparency and fairness for drivers and passengers worldwide.

Operating in over 47 countries and being ranked as the world’s fastest-growing global ride-hailing app in 2022, inDrive is one of the leading players among ride-hailing services worldwide. However, the ride-hailing industry usually finds itself as the target of fraudsters and scammers which can lead to a lack of trust between customer and company, tarnished brand reputation, and lost revenue. 

SHIELD, the mobile-first risk intelligence company, helps mobile apps build trust and safety by stopping all fraud and abuse. With SHIELD’s ID technology which analyses thousands of devices, network, and behavioural data points to return the most comprehensive picture of risk, inDrive will be able stay ahead of fraudsters and provide a safe and fair experience to users.

Speaking about how SHIELD will help inDrive proactively stop fraud, Jake Ooi, Chief Product Officer at SHIELD, during a media session held last week, said, “To keep up with the ride-hailing industry’s rapid growth, businesses must know exactly which tools and techniques are being used to commit fraud and be aware of it the moment it happens so that companies can build trust, preserve brand reputation, and stay at the forefront of the ride-hailing race. With its smart solutions, SHIELD provides actionable risk intelligence to stop fraud, build trust, and drive growth.”

Hasan Qureshi, Senior Business Development Representative at inDrive, said, “inDrive began its operations from one city in Pakistan in 2021 and today we are successfully operating in 12 cities of the country. With such vast and fast expanding consumer base, it is imperative for us to ensure transparency and maintain best customer service. Through our partnership with SHIELD, we want to do just that by challenging injustice and eliminating unfairness.”

 

 

Pakistan (Muhammad Yasir) Bazaar, Pakistan’s leading B2B commerce, fintech and supply chain platform for 5M+ businesses, is launching its newest business vertical, Bazaar Industrial – a simplified raw material sourcing platform for manufacturers across Pakistan. Bazaar provides a digital suite of products to simplify operations across multiple verticals to businesses countrywide. Since its inception in 2020, Bazaar has raised over $100m in venture financing and has scaled to become the leading merchant aggregator with a footprint across 50+ cities. With the launch of Bazaar Industrial, Bazaar is serving as an aggregator to solve for the pain points faced by suppliers and buyers in raw material procurement across 15+ categories including chemicals, construction, steel, textile, polymers, paint etc. Through a tech-enabled platform, Bazaar Industrial is enabling suppliers with market intelligence and data insights, access to customers nationwide via a robust supply chain infrastructure and a dedicated sales force with deep industry experience. They are trusted by leading suppliers such as Matco, International Steels, Sabic and Nippon Paints, amongst many others. To facilitate buyers, Bazaar Industrial is providing the best quotes on flexible payment terms, a comprehensive portfolio of raw materials and real-time insights with marketplace data points. They have already received tremendous interest from leading buyers such as Loads, Diamond Paints, Steelex, Novatex and Sapphire. By solving the problems faced by Pakistan’s $20B+ raw material market, Bazaar Industrial aims to improve the trade economics of SMEs and simplify processes through digitization. This vertical is headed by its Managing Director, Ali Ilyas, who brings 15+ years of experience in chemical marketing and distribution and has worked with top local and international suppliers for the Pakistani market. “It’s been incredible to join this rocketship with its stellar employer brand, world-class technology stack and significant capital base which will be a game changer in local raw material sourcing for customers and suppliers,” says Ali Ilyas. Hamza Jawaid, the co-founder of Bazaar, adds, “We are incredibly excited to take the impact and learnings from our retail business to solve similar challenges for the industrial segment that is a major driver of Pakistan’s economy. In Ali and the entire Bazaar Industrial team we have deep expertise and stellar drive to establish a strong and growing business in this space.”

Pakistan (Muhammad Yasir)

Khurram Jameel, MD & CEO Siemens Healthineers, hosted a business gathering @ the Healthineers office in Lahore in association with AHK and Diplomatic Mission of Germany. Dr. Rudiger Lotz, Consul General of Germany, Christian Bottcher, First Secretary Economic Affairs and M. Usman, AHK Pakistan Desk, invited leading business leader to discuss the current economic conditions of the country and initiatives to enhance bilateral trade between Pakistan & Germany Mr Khurram Jameel, CEO & Managing Director Siemens Healthineers Pakistan highlighted the importance of regular business exchanges to promote bilateral ties between the two countries. Pakistan and Germany hold a very strong bond and Siemens Healthineers has always played a key role in providing breakthroughs in healthcare. He mentioned that with the launch of the Dubai-based AHK Pakistan Desk last year in UAE, the German-Pakistan business relations have been gaining momentum. The interest of German companies in the Pakistani market has increased noticeably in the last few years. AHK and the German Diplomatic missions in Pakistan are keen on playing their part and acknowledging the economic developments in this difficult but promising market, through various initiatives, and most recently by organizing a successful AHK-led business delegation of German entrepreneurs and business leaders to Islamabad and Karachi last September. Supported by the German Embassy in Islamabad and the German Consulate General in Karachi, the AHK plans to organize business networking events in Pakistan for 2023 as well. The AHK Networking Series will provide an opportunity to network with the German and Pakistani business community and the high-level guests and speakers, Jameel added. Virtually addressing the guests from Dubai, Mr Oliver Oehms, CEO of the German Emirati Joint Council for Industry and & Commerce (AHK) believed that the negative outlook of Pakistan is for the short term. In long term, Pakistan’s outlook is positive and it is a good opportunity for Pakistan to correct the issues forever, said Oliver.

Karachi (Muhammad Yasir) Digital Banks recently licenced by the State Bank of Pakistan to operate in the country have promised greater financial inclusion in the unbanked masses and investment in technology and customer servces to help the financial sector grow. Chief Executives of three Digital Banks including Mashreq Bank, Raqami and Easypaisa DB voiced similar future plans during the 4th Digital Banking and Payments Summit and Expo (DigiBAP2023) organized by TerraBiz in Karachi on Wednesday.

The Chief Guest at the inaugural session was Dr. Ishrat Hussain, former Governor State Bank of Pakistan, while other prominent speakers and panelists during the day long conference included Shadaz Dada, President UBL; Irfan Lodhi, Chief Executive Mashreq Bank; Sohail Javaad, Executive Director State Bank of Pakistan; and Mudassar Aqil, Chief Executive Easyaisa DB as well as many others from across the country.

A number of international financial experts like Evans Munyuki, celebrated author and former Group CDO Emirates DB; Fernando Morillo, Global Head of Retail Mashreq Bank; Faran Niaz, banking customer services expert; Alexandra Topalian; and others travelled specially to Pakistan for the conference.

During his address, Dr. Ishrat Hussain said that financial reforms are an ongoing process. The State Bank had encouraged new initiatives over the years like Islamic Banking, Microfinance Banking to empower women and provide financial services to traditionally unserved sections of the society from agri and SME financial services. Digital Banks are the future and have the means and opportunity to promote financial inclusion and make inroads where conventional banks cannot reach, he said.

Commenting on the state of banking in the country, speakers were of the opinion that it is not easy making the behavioral change to transition from a cash economy to a digital economy. Nadeem Hussain of Raqami said that people don’t save in banks because the returns don’t offset the inflation.

Chief Executive of Mashreq Bank Pakistan, Irfan Lodhi said that Mashreq Bank had entered the Pakistan market with long terms vision and plans of achieving greater market credibiity penetration and financial inclusion. He was of the opinion that new entrants to the financial sector should focus on making a place in the market by providing unfulfilled services rather than looking at immediate profits.

President and Chief Executive UBL, Shazad Dada was of the opinion that the big challenge is the cultural change in the organization. He said that his organization was moving forward on the basis of design thinking and data analytics to enter the future of banking with increased services to customers. 

A session was dedicated to the payments systems which was participated by CEOs and senior executives of fintech companies like OneLoad, QisstPay, BPC, Keenu, Neem Exponential, and UBL who discussed innovative payments solutions based on technology for cashless transactions.

Co-Founder of the Chainstore Association of Pakistan, which represents over 200 members of the organized retail sector also gave a presentation on what clients and retailers expect from banks and payments services and how these service provider can provide ease in payments to buyers and sellers.

CEO Terrabiz, Hamza Hashmi in his opening address welcomed all speakers and partners for the event.

The event also included an expo of more than 10 banks, financial service providers, technology solution providers, etc who displayed their innovative solutions for the banking and financial sector.

 

Karachi (Muhammad Yasir) The National Electric Power Regulatory Authority (NEPRA) approved a reduction of Rs. 10.79 /unit on account of Fuel Charge Adjustments (FCA) for December 2022. Through a notification, the Authority has issued instructions to the benefits of negative FCA to consumers in February 2023 bills.

The FCA is reviewed every month as per the tariff regime applicable across the country and is usually applicable on consumer’s bills for one month only. FCAs are linked with changes in global fuel prices and passed onto consumer bills under prescribed rules and regulations of NEPRA and the Government of Pakistan. December’s FCA request was lower primarily due to a reduction in prices of RLNG, furnace oil, and power purchased from CPPA-G by 17%, 15%, and 30% respectively as compared to September 2022 and better utilization of generation mix.

For the past consecutive months, downward trends in prices of fuels have enabled KE to pass on benefits of negative FCA to customers.

Pakistan (Muhammad Yasir) Bank Alfalah, one of the largest commercial banks in Pakistan, has collaborated with Indus Earth Trust (IET), a not-for-profit organization, to host several financial educational sessions with Benazir Income Support Programme (BISP) beneficiaries aimed at elevating financial literacy and promoting easy access to services, with the goal of simplifying and enhancing the lives of women in rural areas.

The partnership between Bank Alfalah and Indus Earth Trust (IET) has led to the successful completion of 40 workshops, attended by over 1000 women from various areas of Karachi and Thar. These workshops were centered around managing household finances, various saving methods, investment options, introduction to micro-finance, the significance of having a bank account, and the advantages of different insurance policies. As a result, more than 200 women signed up for wallet accounts as well as Asaan women’s digital accounts which will enable them to get multiple benefits such as easy withdrawal, savings and accessibility to investments.

Commenting on the importance of financial inclusion for women, Mehreen Ahmed, Group Head of Retail Banking Group said, “Enhancing financial literacy is imperative for women, as it has the power to greatly enhance their autonomy and overall welfare. I am pleased with our partnership with Indus Earth Trust, as we are enabling women to engage in the workforce and make informed choices for themselves and their families. Bank Alfalah is a strong advocate of empowering women through financial literacy, enabling them to become independent and break down traditional gender barriers.”

Aijaz Abro, Chief Operating Officer ofIndus Earth Trust commented on this partnership “Bank Alfalah supported Indus Earth Trust for financial literacy training for the rural women folk of district Thatta and Karachi Slums. The financial inclusion of women in rural areas and their unique hurdles were taken into account while designing a training curriculum to enable them in digital banking and mobile accounts.”

The collaboration is committed towards Sustainable Development Goals (SDGs) goal number 4, 5 and 8 which target equitable quality education, gender equality and reducing inequalities through impactful partnerships. Furthermore, a recent study shows that with the knowledge and understanding of how to manage their finances effectively, women are better equipped to plan for their future and make informed decisions. This will have a positive impact on the education and health of women and their families in the long run. Women who are financially secure are more likely to invest in the education and health of their children, which can lead to a better future for the next generation.

Karachi (Muhammad Yasir) Overseas Investors Chamber of Commerce and Industry (OICCI), the collective voice of top foreign investors in Pakistan, has revealed the results of its annual “Corporate Social Responsibly (CSR) Report 2022”. The CSR survey results once again reaffirmed OICCI members’ commitment in support of the socio-economic development of the communities in which they operate in Pakistan. 

The OICCI CSR Report 2022 reflects, in brief, the essence of the CSR activities of OICCI members who during 2021-22, collectively, invested over PKR 12 billion (2020-21: PKR 11 billion) on CSR related activities, and reached out to around 46 million direct beneficiaries throughout Pakistan. OICCI members and their employees also contributed 1.5 million man-hours and partnered with over 280 social and development sector organizations in fulfilling their unique CSR programs.

Ghias Khan, President OICCI, commenting on the CSR initiatives of OICCI members remarked, “OICCI members, led by example during the COVID pandemic, and have also shown their commitments towards mitigating the suffering of the 2022 flood victims by actively participating in relief activities as well as announcing generous commitments of around Rs. 9 billion, in addition to their CSR contributions of Rs 12 billion. “Besides financial contribution,” Ghias Khan added, “OICCI was the first chamber in Pakistan to have organized in March 2022 an international Climate Conference highlighting the need to take proactive actions to protect the life and livelihood of the people from negative effects of global warming “.  

Throughout 2022, OICCI members participated in numerous philanthropic projects, divergent from the traditional CSR activities, to show their commitment towards paying back to society, in collaboration with key social sector partners. These social initiatives were focused on society’s betterment, including various dedicated programs to improve upon the education, healthcare, livelihood, infrastructural development, and environmental sustainability sectors. 

Commenting on foreign investors commitment towards UN SDGs (Sustainable Development Goals), OICCI’s Vice President Amir Paracha stated that “an overwhelming 89 percent of the OICCI participating OICCI members focused on health and well-being, and actively supported health and nutrition related initiatives through donations to reputable hospitals, medical care camps and health awareness campaigns.” Further, Amir Paracha added “over 75 percent of participating members contributed towards  quality education by funding for improved primary and secondary school facilities, scholarships, and various vocational training programs for skills development. Moreover, about two-thirds of the participating members focused on Gender Equality to promote women empowerment activities and actively pursued the “OICCI Women initiative.”

The geographic distribution of the CSR activities was spread towards all the four provinces of Pakistan, including Azad Kashmir, FATA, and Gilgit-Baltistan. About one-third of CSR activities were focused on Sindh and another 28 percent in Punjab. 

The OICCI is the collective voice of major foreign investors in Pakistan. The over 200 OICCI members, from 31 different countries, have a presence in 14 sectors of the economy and contribute around one-third of Pakistan’s total tax revenue, besides facilitating transfer of technology and skills and providing employment to a sizeable number of people. About a third of OICCI member companies are listed on the Pakistan Stock Exchange, and 40 members are associates of the Global Fortune 500 companies. Besides their business operations, the OICCI members realize their corporate social responsibilities and are major contributors to various CSR activities benefitting 46 million persons from underprivileged communities.

Pakistan (Muhammad Yasir)

Gillette Pakistan today announced Pakistan National Cricket Team’s superstar and sensational bowler, Naseem Shah, as its newest brand ambassador along with campaign launch of the first locally produced razor, Blue 3 Flexi, at a private event held at its Head Office in Karachi. Consistent with the program values, Naseem Shah was onboarded not only for his sporting accomplishments, but also for his grit on overcoming barriers in his life. He is as much a champion in his personal life as he is on the pitch. As per the partnership, the athlete will be fully integrated into Gillette brand programs and will be leveraged through multi-faceted marketing initiatives, including broadcast advertising, consumer promotions and point of sale materials in support of what will be Gillette’s most sought-after razor, making this the largest current sports marketing initiative for the brand in Pakistan. Naseem Shah has had his fair share of challenges yet proved himself an inspirational individual who overcame those with courage and thrived. Naseem Shah made his test cricket debut at the age of 15 and broke multiple records, including becoming the youngest fast bowler to take a five-wicket haul and achieve a hat-trick. He never ceases to impress on the pitch and continues to dominate on and off the field with his talent and popularity. Announcing the launch of the new campaign for its Blue 3 Flexi razors, Muhammad Fahad Saleem, Commercial Leader, Gillette Pakistan, said “The Gillette name is synonymous with being the best. We are delighted to have Naseem Shah join the Gillette brand legacy today. His determination, grit, and commitment on and off the pitch, are exemplary, and embody the core ethos of the brand being #TheBestAManCanBe. We are excited to have him as the new face of our campaign, and we look forward to him becoming, undoubtedly, one of the best this sport has seen.” With Naseem on board, Gillette Pakistan aims to connect with millions of consumers from across the country looking for inspiration to take their lives to the next level, fueled by strength, courage, and passion. Speaking at the event, Naseem Shah said, “I am honored to be joining the Gillette team today. The decision to come on board was extremely natural for me, as I know we share the same beliefs and values and believe in the ideas of shattering self-conceived limitations and barriers.”

 

Pakistan (Muhammad Yasir)

Pakistan’s leading online delivery service, foodpanda partnered with Tencent Games to give over 2,500 riders in KLI the chance to compete for cash prizes. As the first ever tournament of its kind, the rider competition had in store cash prizes of PKR 20,000, 12,000, and 8,000.

PUBG MOBILE is one of the fastest growing games in the country, and riders had the chance to win big while having a great time competing. In this first of its kind collaboration between foodpanda and Tencent Games, over 2,500 riders registered themselves in the form of squads to compete against each other.

This marks yet another achievement for the Rider Experience Team at foodpanda that works tirelessly to offer its delivery heroes unparalleled opportunities to grow and prosper.