Category: Business

Karachi (Muhammad Yasir) General subscription for Globe Residency REIT (GRR), Pakistan’s first developmental REIT being listed on the Pakistan Stock Exchange, will take place on December 14 and 15.

14 million units, which make up 10% of the total units of the REIT Scheme have been offered by Javedan Corporation Limited to the General Public at a price of PKR 10 per unit. Arif Habib Limited is the Lead Manager for this Offer for Sale with Habib Bank Limited, Habib Metropolitan Bank Limited, Bank Al Habib Limited and, Bank Alfalah Limited as bankers to the offer along with Ismail Iqbal Securities and Growth Securities acting as underwriters.

GRR is a closed ended, Developmental REIT Scheme with a limited life of 48 months offering investors the opportunity to become an investor in the Globe Residency apartments project at Naya Nazimabad

Arif Habib Dolmen REIT Management Limited (AHDRML) is the REIT Management Company of GRR and Arif Habib Development and Engineering Consultants (PVT.) Ltd is the Project Manager. In total, GRR is constructing nine towers, which were launched in November 2021 and will be ready for possession within the next 3 years. Total number of apartments in the project are 1,344 of which 1,098 have already been booked including 408 apartments being developed under Musharakah arrangement with Meezan Bank. Construction work is in full swing and the grey structure is targeted to be completed by September 2023.

The REIT fund size is PKR 2.8 billion; PKR 1.4 billion each of Debt and Equity and the project cost is estimated at PKR 20 billion.

Tis’ a season to get all your realme favourites during the 12.12 Sale with Daraz.

realme, the world’s fastest-growing smartphone brand, has given over a 100 million consumers across the globe an experience that exceeded their expectations. As 2022 draws to a close, the brand is bringing yet another sale to let its fans get their hands on their favourite realme goodies.

realme has always been at the forefront to bring something exciting for its fan base. This holiday season during the 12.12 sale, fans can buy realme gifts for their loved ones with exclusive discounts on their favourite products.

In the smartphone category,

• realme 9 Pro+ (8GB + 128GB) shall cost PKR 77,399/- down from 79,999/-.
• realme 9 4G (8GB + 128GB) will carry a price tag of PKR 64,799/- down from PKR 66,999/-.
• With a glowing design, realme C35 (4GB + 128GB) will cost PKR 45,499/- down from PKR 46,999/-.
• The realme C25Y (4GB + 64GB) can be purchased for PKR 33,899/- down from 34,999/-.
• Grab a realme C11 (4GB + 64GB) at an amazing price tag of PKR 29,999/- down from PKR 30,999/-.

 

Over at the AIoT front, realme has great deals on:

• realme Watch S that comes for an exciting price of PKR 14,999/- all the way down from PKR 19,999/-.
• realme Dart Charge Power Bank for PKR 5,589/- down from PKR 6,999/-.

Moreover, discounts of upto 50% will be offered on smartphones and smart AIoT items during the year-end sale. realme has announced amazing offers on the realme Power Bank 2i, realme 10000mAh Power Bank 2, realme 30W Dart Charge Power Bank, realme Buds Q2, realme Band 2, realme Buds Air Neo, realme Buds Q, realme Buds Wireless Pro, realme Motion Activated Night Light and realme Smart Scale.

So, don’t miss this last chance and fill in your carts with all your favourite realme products, and become a favourite in your family by giving these awesome gifts to your loved ones!

Pakistan (Muhammad Yasir) TECNO, an innovative technology brand with operations in over 70 markets globally, has inked a strategic 3 year partnership with Google on software that will further enhance the user experience and bring new dynamics to the smartphone market. The partnership will bring an optimized user experience for TECNO smartphones, where TECNO mobile devices will be at the forefront of delivering latest Android updates, as well as power more seamless cross-device experiences.

The partnership enables TECNO to continue delivering new Android updates in a timely manner. For instance, TECNO was among the first smartphone manufacturers to make the Android 13 Beta available, via the CAMON 19 PRO 5G this year, offering a more customized interface, better gaming performance, and a one-handed mode. 

TECNO has been pioneering cutting-edge smart device and AIoT ecosystem upgrades, with its “2 to 2 + Double 1 + N” AIoT strategy to drive cross-device connectivity. “2 to 2” refers to the addition of individual and home with audio and router devices, “Double 1” stands for laptop and smartphone, while “N” translates to TECNO’s goal to drive infinite possibilities for consumers in an interconnected and tech-driven reality. Working with Google will help TECNO expand the connectivity to internet enabled devices including tablets. TECNO aims to create a fully connected and intelligent ecosystem that will greatly benefit individuals as well as enterprise users.

As TECNO pilots more novel breakthroughs via revolutionary partnerships, its users across more than 70 markets worldwide can expect more delightful and intuitive experiences with increased connectivity and accessibility.

As a modern stylish technology brand, TECNO has been revolutionizing the digital experience for global consumers in emerging global markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. Today, TECNO has developed into a recognized leader in its target markets, delivering state-of-the-art innovation through a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products.

“Google has been an important partner of TECNO for a long time, dating back to the launch of TECNO’s first smartphone,” Says Jack Guo, General Manager of TECNO. “Leveraging Google’s world-class expertise in software and innovation, coupled with TECNO extensive experience in the mobile phone industry accumulated in emerging markets, we will provide local users with safe and reliable smart devices with first-class performance and excellent user experience.”

“We are pleased to further strengthen our partnership with TECNO across Android. This will help close the digital divide by helping more people to access smartphones by 2025; collaborating to build more helpful products for the next billion internet users,” said Peter Fitzgerald VP Global Partnerships.

 

Karachi (Muhammad Yasir) To aid knowledge transfer and best practice sharing in line with its Dairy Development Program (DDP), FrieslandCampina Pakistan invited certified dairy farmers from the Netherlands to train and advice Pakistani farmers on best dairy farming practices.

Under the Farmer2Farmer initiative, 2 Dutch farmers, Petrus Adrianus and Gerhard Herman, visited FCEPL factory and partner farms in Sahiwal to engage with local dairy farmers on dairy farming practices like animal health and welfare, feeding and watering, calf-rearing, milking hygiene, cow fertility, housing and barn design.

Explaining the main goal of the Farmer2Farmer program, Muhammad Sohail Sarwar Chaudhary, Director Agri-Business, FCEPL, said, “This visit enhanced the farmers’ knowledge with reference to global expertise through the lens of local scenario. Our aim is to boost dairy production both qualitatively and quantitatively to uplift the socio-economic position of our farmers and make rural communities more viable.”

One of the objectives of the Dairy Development Program and Farmer2Farmer initiative is to build capabilities of the local farmers as per global benchmarks and transform the dairy industry of Pakistan. Earlier this year, FC Pakistan announced the Pakistan Netherlands Dairy Development Center (PNDDC) in partnership with UVAS, to improve and enhance the dairy value chain in Pakistan.

Karachi (Muhammad Yasir) Pak-Qatar Family Takaful Limited and U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, have strategically signed a landmark BancaTakaful agreement. Under this collaboration, family Takaful products will be offered through U Bank’s distribution network, which is amongst the largest microfinance banking branch network in Pakistan.

The Memorandum of Understanding (MoU) of this partnership was signed by Ms. Mariam Pervaiz, Chief Commercial Officer & Chief of Staff – U Microfinance Bank and Mr. Azeem I. Pirani – CEO, Pak-Qatar Family Takaful Limited, while the signing ceremony was presided over by Mr. Kabeer Naqvi, President & CEO – U Microfinance Bank, in the presence of senior management officials from both the collaborating organizations.

At the occasion, Mr. Azeem Pirani said, “We are pleased to partner with one of the leading microfinance banks in Pakistan having one of the largest distribution networks. We are confident that this partnership will help us to take forward our long-term vision of providing financial protection through Takaful to everyone and it is always encouraging to work with like-minded partners link U Bank who share the same goals and approach towards offering need based, and appropriately priced, financial solutions to the citizens of Pakistan.”

Mr. Kabeer Naqvi, President & CEO – U Microfinance Bank, stated, “We are glad that the fruit of U Bank’s financial inclusion and expansion efforts, along with our partnership with Pak-Qatar Family Takaful Ltd. can be translated into enhanced accessibility of Islamic financial services services to the banking customers through U Bank’s network. This mutually beneficial collaboration is key for building harmonized industry relations and gives us an exciting opportunity to introduce Takaful services at U Bank.”

The partnership agreement is aimed at offering tailor-made Bancatakaful products to customers and is an important milestone for both the companies within the local financial services ecosystem. The partnership will pave way for world-class Takaful products, which will be introduced in a phased roll-out manner across U Bank’s extensive network of over 250 branches nationwide currently.

A seal of approval from third party that NADRA is governed by international standards.

Islamabad (Muhammad Yasir) National Database & Registration Authority (NADRA) in pursuance to become cyber- resilient organization, has reached yet another milestone by bagging ISO 27001 certification. ISO 27001 is an internationally recognized best practices framework. NADRA is now ISO certified in ID Card Printing, Networks & Communications, Infrastructure and Information Security departments. It has now certified for Information Security Management Systems (ISMS) and is one of the most rigorous information security standards worldwide. NADRA has recently received this certification in recognition of its exceptional commitment to protecting and safeguarding its information assets. Congratulating team, Chairman NADRA Tariq Malik said, “International Standards Organization certification reflects that NADRA processes of managing its ID assets are governed by international standards, as endorsed by third party audit.” He further elaborated that the certification is testament to NADRA’s commitment to ensure that security processes and procedures are in compliance with international security best practices, and audited regularly and are continually improving to deliver the highest level of security and data protection. Security by default (SbD) and privacy by design (PbD) protocols are two fundamental strategies at the heart of NADRA’s product and service’s development life cycle, he added. “This further reinforces NADRA’s commitment to maintain security and integrity of citizen data and validates the security built into the application design and processes, added the chairman. It is pertinent to mention here that International Organization for Standardization (ISO) is an independent, non-governmental international organization which brings together experts to share knowledge and develop voluntary, consensus-based, market relevant international standards that support innovation and provide solutions to global challenges.

Pakistan (Muhammad Yasir) A Letter of Intent (LOI) has been signed between National Bank of Pakistan (NBP) and Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP), Govt. of Sindh at Karachi for collaboration to promote High Efficiency Irrigation Systems (HEIS) for efficient use of water and crop productivity.

The SIAPEP is providing financial assistance to eligible farmers at the rate of 60% of the total cost of installation of HEIS whereas the remaining 40% cost for HEIS is to be contributed by the farmer. Such farmers at times face difficulty in mobilizing their due share upfront. In this regard, NBP and SIAPEP have agreed to provide financing facilities to eligible and needy farmers for the installation of HEIS.

NBP and SIAPEP will also focus on capacity building of farmers through adoption of agriculture best practices for increasing water use efficiency and crop productivity, improving the financial literacy of the farmers, ensure financial inclusion of farmers and enabling them to adopt modern technologies for increasing productivity and profitability.

Pakistan (Muhammad Yasir)  Jazz Business showcased its state-of-the-art onshore cloud platform Garaj and AdTech portfolio, Data Analytics as a Service (DAaaS), at an interactive event with IT industry stakeholders and corporate representatives at Connect 2022 held in Karachi.

During the event Ali Naseer, Chief Business Officer, Jazz signed a memorandum of understanding (MoU) with Saqib Saleem, CEO & Director, MCB Arif Habib Savings & Investment Limited to provide seamless cloud services for its operations through Jazz-powered Garaj.

Asif Ikram, Secretary, Information, Science and Technology Department, Government of Sindh and Junaid Imam, Member (IT), Federal Ministry of Information Technology & Telecommunication also attended the event and briefed the industry stakeholders about the policies being formulated to accelerate the digital ecosystem. In addition to the cloud platform, Jazz Business also showcased its AdTech and Data Analytics as a Service (DAaaS) portfolio.

Ali Naseer, Jazz’s Chief Business Officer, also interacted with stakeholders at the meet-and-greet and said, “Business innovation, today, requires powerful technology solutions.  Globally the adoption of digital technology is taking place at such a rapid pace and scale that we simply cannot compete without the right public-private partnerships that implement a holistic digital ecosystem at the grass root level. At Jazz Business, our core philosophy is to offer solutions that help businesses adopt digitalization faster.

Daraz and Visa have expanded their partnership with unified flood relief efforts to support 4,000+ families in affected areas around Pakistan.

Karachi (Muhammad Yasir) Daraz and Visa have expanded their partnership to support active flood relief efforts for more than 4,000 families from affected communities in Pakistan following the severe flooding which washed away villages and left millions in need of immediate, lifesaving assistance, while being at the risk of infections and drowning.

Daraz and Visa have been long-term partners and combined their efforts to help those affected by the flood by using the Daraz platform. Visa allocated PKR 22 million to procure items from the Daraz marketplace, and Daraz managed all logistical operations to arrange items at cost price from its seller network and delivery in a short span of time. Daraz also collaborated with humanitarian organisations that were leading flood relief drives across Pakistan to handle the distribution of these items.

Organisations that handled the distribution of the relief items included the National Disaster Management Authority, JDC Foundation Pakistan, and Alkhidmat Foundation Pakistan. The donations were dispersed to flood-affected areas all over Pakistan, benefiting more than 4000 families. The donated items include essentials such as dry food staples, biscuits, mosquito repellents and sanitary products.

Leila Serhan, Senior Vice President and Group Country Manager, North Africa, The Levant, and Pakistan – Visa said “Visa is grateful to be able to contribute to the pivotal role that humanitarian organisations are playing on the ground in crisis affected communities and will continue to help mobilise a large amount of life-saving aid in these perilous times. Our partnership with Daraz is an important one as we are bringing together our core skills and resources to support ongoing relief efforts in Pakistan.”

Understanding the need for rapid action for those impacted by the flood, the organisations involved executed the procurement, logistics-handling, and distribution of the donation items within a record time of three weeks.

Ehsan Saya, Managing Director, Daraz Pakistan, stated “The disaster that Pakistan has been hit with this year is unprecedented, and while rehabilitation would be a long journey, immediate relief through the disbursement of necessities was the need of the hour. We are grateful to Visa for their generosity during these difficult times, and glad that our ecosystem was able to benefit communities during their hour of need.”

Syed Zeeshan Ali, Director Digital Payments Daraz, said “Relief and rehabilitation of people affected by devastating floods in Pakistan is an enormous undertaking which requires contribution from all segments of the society. We are thankful to Visa for their support towards this humanitarian cause and glad that we leveraged our strategic partnership for the betterment of our communities”.

 

Pakistan (Muhammad Yasir) Faysal Bank Limited (FBL) and Bank of Khyber have partnered to launch a suite of digital financial services featuring virtual & debit card services along with added digital payment solutions. Faysal Bank through its Fintech Express Program is driven by creating partnerships with Banks and Fintech to further encourage State Bank of Pakistan’s (SBP) financial inclusion initiative in Pakistan.

 Faysal Banks Fintech Express Program is focused on identifying financial institutions and aiding their customers’ digital journey through innovative technologies. With this partnership, Bank of Khyber will leverage Faysal Bank’s Fintech Express Program to accelerate the customers’ digital journey and provide its customer accessibility to a host of digital solutions to aid their banking needs.

Speaking at the signing ceremony, Mr. Yousaf Hussain, CEO, FBL said, “Faysal Bank wants to be the cornerstone of the digital product revolution in Pakistan. We continue to focus on developing and strengthening ecosystem partnerships with multiple players that bring expertise and economies of scale in their respective domains. Faysal Bank’s agreement with Bank of Khyber demonstrates our commitment to facilitate other banks and startups in Pakistan.”

Speaking at the occasion, Mr.Ali Gulfaraz, Managing Director and CEO, BoK, said, “Bank of Khyber is committed to delivering ease, convenience, and universal acceptability to our customers to transact and make payments across all channels. The partnership between Faysal Bank and Bank of Khyber will help us strengthen the BoK digital ecosystem by onboarding international payment schemes and digital services that will provide a comprehensive range of payment solutions to our customers”

The signing ceremony held at Faysal Bank, Karachi was also attended by Mr. Amin Ur Rahman, Chief Digital Officer and Fahad Mirza, Head of Digital Ecosystems & Partnerships, Faysal Bank Limited, and Mr. Asim Bashir, Group Head Digital & Consumer Banking from Bank of Khyber.