Category: Business

Reaffirming its dedication to delivering seamless digital financial services to all Pakistanis, easypaisa is offering “easycash”, a digital service providing instant, hassle-free access to loans for users.

”easycash” enables easypaisa customers to obtain an instant loan of up to PKR 15,000 seamlessly, without any documentation, allowing them to repay their loans through flexible terms, without any hidden charges or ambiguity.

Loan approval is contingent upon a credit score, which is determined through our state-of-the-art in-house credit scoring model based on the user’s easypaisa account activity and credit history.

To avail “easycash” service, users can simply log in to the easypaisa account and select the easycash loan menu. They can then enter an amount up to the maximum limit of PKR 15,000. Upon confirmation, users will receive the loan amount instantly and receive a notification on their easypaisa app and SMS. The feature also allows users to track and plan their repayments by viewing the outstanding amount, service fee, and due date, with an option to repay the full or partial amount from the easycash menu.

Muhammad Khurram Waraich, Head of Digital Lending & Data Science, TMB/easypaisa, commented, “easycash has revolutionized the way loans are borrowed, strengthening our commitment to simplifying the lives of millions of Pakistanis through our innovative service offerings. Access to formal credit remains critical for individuals, often involving extensive paperwork and complicated procedures. With easycash, we aim to streamline access to formal credit for everyone to meet their short-term needs easily. This initiative not only empowers individuals but also propels Pakistan towards a more inclusive digital economy.”

With 1 in 4 Pakistani adults having a registered easypaisa account, easypaisa has continuously elevated its product offerings through its customer-first approach. Leveraged by easypaisa’s own in-house credit scoring model, easycash represents a significant step in enhancing easypaisa’s digital lending product suite and creating a financially inclusive Pakistan.

Technological advancements in digital finance continue to simplify our lives. As Pakistan’s premier digital financial services platform, easypaisa remains at the forefront of introducing innovative and tailored solutions for all customer segments.

With over 40 million registered mobile accounts, easypaisa has consistently proven itself as a leader in Pakistan’s digital financial services landscape and remains dedicated to its mission of transforming Pakistan into a financially inclusive society through the power of collaboration and technology.

 

Lahore (Muhammad Yasir)

Eco-Green Motors Limited under Yousuf Dewan Companies introduces the Honri Ve 3.0, a stylish electric hatchback designed for the masses. Priced at 4,999,000 PKR, this vehicle is perfect for those looking to save on fuel costs while commuting daily, going to offices, taking family outings, managing daily chores, or enjoying city tours with friends and family. The Honri Ve 3.0 offers unparalleled performance, advanced features, and top-notch safety standards, making it the ideal choice for modern, eco-conscious Pakistanis. With the option to book this innovative vehicle at just 50% of the total price, transitioning to electric mobility has never been more accessible or appealing. The Honri Ve 3.0 stands out with its impressive performance specs, including a CLTC e-range of 300 km and a charging time from 0-100% in just 7 hours. The vehicle is powered by a permanent magnet synchronous motor that delivers a maximum power of 35 kW and a maximum torque of 87 Nm, allowing for a maximum speed of 100 km/h. The 29.9 kWh lithium iron phosphate battery ensures long-lasting performance and durability. Additionally, the Honri Ve 3.0 features intelligent battery insulation and regenerative braking, enhancing its efficiency and sustainability. Drivers can choose between Economy and Sports driving modes to suit their preferences and driving conditions. The exterior of the Honri Ve 3.0 is both functional and stylish. It features 15-inch rims and 165/55/R15 tires, providing a smooth and stable ride. The rear spoiler not only adds to the vehicle’s sleek design but also improves aerodynamics. Inside, the Honri Ve 3.0 is equipped with advanced features designed to enhance the driving experience. The vehicle includes a rear-view camera for easier parking and maneuvering, a tire pressure monitoring system (TPMS) for added safety, and a 220V AC charging gun for convenient home charging. Safety is paramount in the Honri Ve 3.0, which includes a comprehensive suite of safety features. The vehicle is equipped with an anti-lock braking system (ABS) and a braking force distribution system (EBD) to ensure optimal braking performance. The driver is protected by an SRS airbag, while the reverse camera and rear parking radar assist in avoiding obstacles when reversing. The Honri Ve 3.0 also includes ISOFIX child seat interfaces, a low-speed pedestrian warning system, automatic locking while driving, and automatic unlocking after a collision, ensuring the highest standards of safety for all passengers.

Pakistan (Muhammad Yasir)

Pakistan’s pioneering electric motorcycle company, VLEKTRA, has won the SDGs Innovative Financing Challenge Cup, organized in partnership with the United Nations Development Programme (UNDP) and JS Bank. The company stood out among over 200 contenders with their innovative vision for sustainable transportation. This achievement highlights VLEKTRA’s growing role in Pakistan’s electric vehicle (EV) landscape. Their focus on crafting premium electric motorcycles powered by high-quality lithium batteries addresses the fight against climate change. “Winning the SDGs Innovative Financing Challenge Cup is a great endorsement of our mission,” says VLEKTRA CEO Syed Raza Mohsin. He added, “The competition showcased many innovative ideas aimed at building a better future. VLEKTRA is grateful for the recognition and support from UNDP and JS Bank. This win encourages us to continue promoting electric mobility and expanding Pakistan’s EV infrastructure.” VLEKTRA’s success marks a step towards a cleaner, greener future for Pakistan. By promoting eco-friendly e-mobility solutions that are economical and safe, VLEKTRA is paving the way for a sustainable transportation revolution.

realme 12 Series: Ready to Challenge Rivals with Cutting-Edge Processors in Pakistan’s Smartphone Arena

Pakistan (Muhammad Yasir) realme, one of the world’s leading smartphone brands, this week announced the launch of its latest smartphones, the realme 12 and realme 12+ 5G in Pakistan. This highly anticipated announcement has generated significant excitement among realme enthusiasts, promising to shake up the market with their advanced features and competitive pricing.

Since its debut, the realme number series has garnered global appreciation, and after a two-year hiatus, it has made a triumphant return to Pakistan. Renowned for its premium quality in the Pakistani market, the series is now back with enhanced photography features and top-notch chipset capabilities.

Adding to the excitement, the unveiling of cricketer Shaheen Afridi as the brand ambassador has further bolstered realme’s image. Afridi’s association with realme has positively impacted the brand’s following, aligning the high-performance ethos of the cricketer with the advanced technology of the new realme 12 series.

The realme 12+ 5G, the highlight of this launch, is quickly being recognized by the media as a formidable competitor in the 5G smartphone market. Powered by the MediaTek Dimensity 7050 5G chipset, featuring an 8-core 64-bit architecture with 2 ARM® Cortex-A78 @2.6GHz and 6 ARM® Cortex-A55 @2.0GHz cores, along with a Mali-G68 GPU, it delivers robust performance while maintaining ultra-low power consumption.

Available in two variants, 12GB RAM+256GB ROM and 8GB RAM+256GB ROM, the realme 12+ 5G has scored over 580,000 on the AnTuTu Benchmark, setting a new standard in its price bracket and proving its capability to handle more than the average user’s needs.

Beyond its impressive chipset power and benchmark scores, the realme 12+ 5G excels in heat control, software optimization, smoothness, gaming capability, and charge speed, outperforming its competitors in every segment.

Inspired by renowned French watchmaker Ollivier Savéo, known for his collaborations with luxury Swiss watch brands like Rolex and Breitling, the realme 12+ 5G features a polished sunburst dial design, premium vegan leather, and PVD polished edges. It offers an ultra-light and slim form factor with just 7.87mm thickness and 190g weight.

On the other hand, the realme 12, powered by the Qualcomm Snapdragon 685 chipset, stands as a formidable force in its segment. This powerhouse chipset ensures a comprehensive performance boost, enhancing every aspect of the user experience, especially when compared to other devices utilizing the same Snapdragon 685 processor. The realme 12 is available with 8GB of RAM and 256GB of internal storage, ensuring ample space for all your apps, photos, and videos.

Both the realme 12 and realme 12+ 5G come with a 50MP Sony LYT-600 primary camera with OIS, designed to capture clear shots from any distance. The 2X In-sensor zoom and Cinematic 2X Portrait Mode offer flexible shooting with DSLR-like bokeh. SuperOIS technology ensures stable video and image capturing, ideal for fast-paced scenarios.

Both devices feature a 6.67-inch AMOLED display with FHD+ resolution, offering vibrant colors and smooth visuals. With a 120Hz refresh rate, these displays ensure a seamless viewing experience. The realme 12+ 5G boasts 4096 levels of brightness adjustment and a peak brightness of 2000 nits, ensuring excellent visibility even in direct sunlight.

Equipped with a 5000mAh battery, both the realme 12 and realme 12+ 5G support 67W SUPERVOOC fast charging, allowing the devices to charge to 50% within 19 minutes and 100% within 48 minutes.

The realme 12 is priced at PKR 59,999, while the realme 12+ 5G is available for PKR 74,999. The realme 12 will be available in Pioneer Green and Skyline Blue, while the realme 12+ 5G comes in Pioneer Green and Navigator Beige. These colors exude elegance and a sense of quiet confidence and adventure. Both devices will be available for purchase starting July 1, 2024.

 

Pakistan (Muhammad Yasir)

United Nations Development Programme (UNDP) in partnership with IBA’s Center for Entrepreneurial Development (IBA-CED) and JS Bank conducted the finale of the SDGs Innovative Financing Challenge Cup to promote sustainable and climate-resilient businesses in Pakistan. In line with the United Nations Day of Micro, Small, and Medium-sized Enterprises (UN MSMEs Day), the initiative also underscored UNDP, JS Bank, and IBA’s commitment to supporting MMEs in Pakistan.

The event welcomed a diverse audience of over 350 attendees, including students from IBA and other universities, vocational training institutes, startups, along with representatives from IBA-CED, JS Bank, UNDP Pakistan and Business Incubation Centers (BICs).

This first-of-its-kind initiative, the SDGs Innovative Financing Challenge Cup aims to pioneer a unique blended financing approach combining a public-private partnership to identify and support climate-resilient projects tackling social and environmental challenges aligned with the Sustainable Development Goals (SDGs).

The SDGs Innovative Financing Challenge Cup attracted over 200 applications across the country. Through a rigorous selection process, 30 SMEs and projects were shortlisted, and participated in capacity-building workshops. This workshop equipped participants with valuable skills in areas including product design, financial planning, and marketability and SDGs related blended financing.

The competition intensified as the 30 projects were further narrowed down to the top 10 finalists. The event finale culminated in the announcement of the winning projects, chosen by a panel of evaluators from UNDP Pakistan, JS Bank, and IBA. The top four SME’s & Projects received a unique blend of financial support – a combination of grants from UNDP Pakistan (10 million PKR each) followed by financing from JS Bank to propel their impactful solutions forward. The winning SMEs were adjudged in the following order: first place, Vitality Vehicles (Vlektra), which manufactures electric motorcycles to reduce emissions, second place, Concept Loop, which diverts plastic waste into building materials, third place, Knowledge Platform, which creates educational games to promote environmental literacy, and fourth place Davaam Life, which promotes refillable products to reduce waste. 

Ammara Durrani, Assistant Resident Representative, Development Policy Unit, UNDP Pakistan, said, “This initiative marks a significant milestone, as it is the first time that such blended financing is being offered. Our aim is not just to offer blended finances to these chosen projects but also help them build their capacities and foster meaningful linkages within the private sector for future cooperation”.

Dr. Lalarukh Ejaz, Director IBA-CED welcomed the guests and participants and briefed about the project. She stated that, “The collaboration between UNDP, JS Bank, and IBA-CED to organize an SDGs Innovative Finance Challenge Cup, aimed at encouraging entrepreneurs with SDG-aligned projects to pitch their innovative solutions”.

Syed Jafar Raza, Group Head Investment, International & Transactional Banking, JS Bank expressed that, “This collaboration between JS Bank, UNDP, and IBA is a powerful example of how public-private partnerships can drive positive change. By combining our expertise as a financial service provider and UNDP’s knowledge in sustainable development, we aim to empower and nurture creative solutions with a positive social impact and contribute to sustainable Pakistan”.

The SDGs Innovative Financing Challenge Cup marks a significant achievement, fostering a robust ecosystem for climate resilience, inclusive insurance, and groundbreaking social enterprises in Pakistan, therefore paving the way for a more sustainable future for all.

 

Pakistan (Muhammad Yasir) 

inDrive, a leading global ride-hailing service, is excited to announce a groundbreaking partnership with oladoc, Pakistan’s premier digital healthcare platform, to provide free healthcare subscriptions to inDrive users. This initiative aims to enhance healthcare accessibility and convenience, offering inDrive users complimentary medical benefits and exclusive discounts to support their health and wellbeing. inDrive: Committed to Safety and Wellbeing inDrive, with its presence in over 750+ cities across 46 countries, is dedicated to ensuring the safety and wellbeing of its users. As a market leader for the past 3 years in Pakistan with millions of users globally, inDrive continues to innovate and prioritize user experience by integrating essential services into its platform. The partnership between inDrive and oladoc represents a significant step towards transforming the healthcare experience for inDrive users in Pakistan. Both companies are recognized leaders in their respective sectors—inDrive in ride-hailing services and oladoc in digital healthcare. This collaboration leverages the strengths of both platforms to deliver state-of-the-art healthcare services to inDrive’s extensive user base in Pakistan. Starting from the 24th of June, 2024, inDrive users will be eligible to receive an oladoc subscription upon booking a ride. This subscription entitles users to a wide range of healthcare benefits, which can be conveniently accessed through the oladoc app. This partnership brings numerous healthcare benefits for inDrive users; with an oladoc subscription, inDrive users will enjoy up to 40% discounts on several medical services and can avail perks such as video consultations with top doctors in Pakistan. GTM Manager – SA, Hassan Zaman stated that; “This partnership empowers our passengers and drivers with top-notch digital healthcare services, reinforcing our commitment to safety and health. We strive to deliver the best value, making health a key focus alongside safety.” inDrive’s partnership with oladoc underscores its dedication to supporting the health and wellbeing of its users in Pakistan. By providing essential healthcare benefits, inDrive is taking a proactive approach to enhance the overall user experience and promote a healthier community.

Strategic plans for a diverse supplier network and enhanced trade opportunities unveiled.

 

Pakistan (Muhammad Yasir) Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce and a unit of Alibaba International Digital Commerce Group, today honored businesses in their pursuit of success and global growth ahead of Micro-, Small and Medium-Sized Enterprise (MSME) Day on June 27. Reaffirming its dedication to supporting MSMEs, Alibaba.com said it has been rolling out artificial intelligence (AI) tools for global suppliers, which have so far attracted adoption by around 30,000 businesses on its platform.

This year’s MSME Day marks the seventh anniversary of the United Nations’ designation to recognize the vital role played by MSMEs in achieving the UN Sustainable Development Goals and the contributions of MSMEs to the global economy. On this meaningful occasion, Kuo Zhang, President of Alibaba.com, participated in a panel discussion on the topic of global trade during the World Trade Organization’s (WTO) bi-annual Global Review of Aid for Trade. Together with four MSMEs from Ethiopia, Vietnam, Italy and India, Zhang also joined a session held by the United Nations International Trade Centre (ITC) to celebrate MSME Day.

Emphasizing the importance of ensuring that no MSMEs in underdeveloped countries are left behind in the era of AI, Zhang mentioned that among the top 20 countries making the most frequent use of Alibaba.com’s AI tools, approximately 10 are developing countries.

“As a member of the private sector, we are honored to have worked alongside international agencies such as ITC and supported MSMEs worldwide over the past 25 years,” said Zhang. “As we promote wider adoption of our AI tools amongst MSMEs, we also hope to expand our global supplier base to cover 100,000 suppliers in the next three years. In a nutshell, we are building a global supply chain by and for MSMEs leveraging AI.”

SLB collaborates with OGDCL on geothermal resource development in Pakistan Pilot project to evaluate geothermal potential of 25 fields across three basins.

Karachi (Muhammad Yasir) SLB (NYSE: SLB) is collaborating with Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration and production company, to develop a strategy for exploiting geothermal resources in hydrocarbon fields across Pakistan.

As part of the collaboration, SLB will help OGDCL develop a plan for evaluation of the geothermal potential of 25 fields in the North, South and Central basins in Pakistan that have been pre-selected by OGDCL. SLB experts together with the OGDCL team will assess surface, subsurface, and well data for the fields to identify focus areas and estimate their geothermal potential using regional models and well productivity calculations.
The scope of the initial OGDCL pilot project includes screening, evaluation and selection of nine fields for detailed analysis, evaluation of geothermal potential, wellbore modeling and determination of next steps.

“OGDCL is committed to exploring innovative avenues for energy development in Pakistan, and our collaboration with SLB marks a significant step toward harnessing the country’s geothermal potential. By leveraging SLB’s expertise and technology, we aim to not only evaluate the potential of geothermal resources but also contribute to sustainable energy solutions for the nation,” said Ahmed Hayat Lak, MD/CEO of OGDCL.

“Governments across the region are seeing the potential of geothermal as an alternative clean energy source that can support their net zero initiatives,” said Karim Badawi, MENA development director for SLB’s New Energy business. “This geothermal pilot project study encompassing fields across the country’s three basins is an important first step in Pakistan’s journey to develop its geothermal resources and we are excited to work with OGDCL on exploring renewable, lower carbon energy sources.”

Mashreq Pakistan Secures Landmark In-Principal Approval to Launch Islamic Banking Operations in Pakistan.

Pakistan (Muhammad Yasir) Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region, has announced a significant milestone in its foray into Pakistan. Mashreq Pakistan has been granted In-Principal Approval (IPA) by the State Bank of Pakistan to commence its Islamic Banking operations within the country. This is a pivotal moment that reaffirms the Bank’s commitment to providing ethical, innovative and robust banking system that aligns with the principles of Shariah, thereby contributing to the nation’s financial landscape and becoming a catalyst for its future growth. Mashreq is actively progressing towards acquiring a restricted license from the State Bank of Pakistan to initiate pilot digital retail banking operations in Pakistan.

To mark this momentous occasion, Mashreq Pakistan organized a celebratory event with its leadership team and employees. The event also celebrated Mashreq Al Islami’s recent global recognition as the World’s Best Islamic Digital Bank by the Euromoney Islamic Finance Awards 2024, for the second year in a row that has further solidified Mashreq’s position as a leader in Islamic banking innovation. Mashreq continues to invest in and improve its digital offerings which has enabled the creation of near 100% digital customer experience – setting new benchmarks for digital Islamic Banking globally. To add to its global laurels in Islamic banking, Mashreq was also recently recognized as the ‘Most Innovative Islamic Banking Product – Nature Saver – UAE 2024’ at the 2024 International Finance Awards.

On the occasion, Fernando Morillo, Group Head of Retail Banking at Mashreq said, “Our goal is to provide enriching experiences that go beyond traditional banking services, ensuring every interaction with our customers is meaningful and rewarding. We are not just adapting to technological advancements, we are driving them. Our advanced digital capabilities have set a benchmark in the global Islamic banking industry, and we are excited to bring the same level of excellence to our operations in Pakistan.”

Muhammad Humayun Sajjad, CEO of Mashreq Pakistan, said, “Receiving the IPA for Islamic banking operations is a pivotal step towards realizing our vision of offering innovative, customer-centric banking solutions that cater to the diverse needs of the Pakistani market. We are poised to be an Islamic-first digital bank in the country, aspiring to deliver the best Islamic Banking solutions to not just meet Pakistani’s expectations, but to exceed them.”

G.M. Abbasi, Director of Islamic Finance Policy Department at the State Bank of Pakistan, remarked, “SBP has worked proactively over the years to promote and develop Islamic Banking in Pakistan through introduction of comprehensive legal, regulatory and Shariah compliance framework, different training & building capacity initiatives, and creating awareness drives for various stakeholders on Islamic banking & finance. These efforts are part of a SBP’s strategy to foster a more inclusive financial environment in Pakistan, which will include digital banks like Mashreq’’.

Mashreq Pakistan’s advanced digital platform is set to revolutionize the banking experience, offering unparalleled convenience, security, and customer service for Pakistanis. Moreover, the bank’s innovative digital solutions, such as Mashreq NEO, NEOBIZ, NEO NXT and NEOPAY, are poised to set new benchmarks in the banking industry. It is worth noting that NEO has been recognized by Brand Finance as the strongest digital banking brand in the UAE. The bank aims to leverage advanced technologies such as AI and blockchain to provide intuitive, seamless, and personalized banking experiences.

The bank’s strategic vision aligns with the broader national objectives of financial inclusion and economic empowerment, aiming at integrating seamlessly into the fabric of Pakistani society, particularly focusing on underrepresented segments and demographics such as women, youth, and SMEs.