Category: Business

Pakistan (Nut Desk) All the main global indicators fell in the Q2 Global Economic Conditions Survey (GECS), pointing to a decisive deterioration in the global economic outlook. Weak growth looks the most likely outcome for the rest of 2022, according to the latest edition of the Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants). The Q2 Global Economic Conditions Survey (GECS) – conducted in mid-June – pointed to a decisive deterioration in the global economic outlook due to the effects of war in Ukraine and the surge in inflation across much of the world. But while risks have risen, indications are that a global recession will be avoided. However, while confidence among financial professionals has dropped sharply, the level remains above the low-point reached at the height of the COVID-19 pandemic. The two “fear” indices – reflecting level of concern that customers and suppliers may go out of business – were little changed in the Q2 survey, both edging slightly higher. Both indices have fallen back from the extreme levels seen in 2020 but are still above pre-pandemic levels. The largest fall in confidence occurred in the Middle East, a region more exposed to trade with Russia/Ukraine while North America and Western Europe recorded especially large falls due to big jumps in inflation in recent months. Elsewhere the falls in confidence were still significant, but more modest (see Chart 1). Only in North America has confidence fallen back to levels seen during the COVID-19 pandemic in 2020. Chart 1 Confidence plunges in all regions IMA While the outlook has darkened, the drop-in confidence is much greater than in orders. Indeed orders – a lead indicator of economic activity – are above their long-run average. The employment index is also well above its long-run average, despite dropping in Q2. Jobs markets are tight, and employment is rising in many economies, providing some offset to the effects of high inflation on real incomes. In a list of top concerns since the Q1 survey, financial professionals have swapped concerns over COVID for worries about inflation and rising interest rates. But for the third GECS in a row, supply shortages and supply chain issues have remained the highest ranked risk. Hopes are that this issue would fade in importance as this year progressed are fading. Jamie Lyon, head of skills, sectors and technology at ACCA, said: ‘Post-pandemic recovery has now given way to negligible economic growth, elevated inflation, and extreme uncertainty. The war in Ukraine has given inflation a further boost by pushing commodity prices higher. But inflation was already high and rising before the war started in February: a strong rebound in demand fuelled by a massive monetary and fiscal response to the COVID pandemic had run up against supply shortages, resulting in a surge in price pressures.’ Loreal Jiles, vice president of research and thought leadership at IMA added: ‘High inflation is resulting in falls in real disposable incomes putting downward pressure on private demand, especially household consumption. Prices of both food and energy are rising rapidly. The result is a cost-of-living crunch on low-income households in advanced economies and across virtually all low and middle-income countries, where these two categories account for a high share of spending.’ Jamie Lyon concluded: ‘Risks of a global recession have increased but our central case is that growth will be positive if rather weak. Employment growth may support total consumption. Nonetheless, with the exception of the COVID recession of 2020, we expect global GDP growth this year and next will be the weakest since the Global Financial Crisis of 2007-09.’

Alibaba.com to Organize Lahore Seller Summit on 20 July Event to explore the new era of B2B e-Commerce with local exporters.

Lahore (Nut Desk)  Alibaba.com, a global leading B2B e-commerce marketplace, is hosting an event in Lahore to discuss the new era of B2B e-commerce with existing and potential exporters in the region. The attendees will get to know the significance of digitisation as it proved to be the backbone of many businesses during the COVID-19 pandemic. According to Salesforce, the global e-commerce market grew by 11% in the third quarter of 2021 alone. The seller event, which is scheduled to take place offline at Lahore and will be livestreamed concurrently on 20 July 2022, is organized in collaboration with the Lahore Chamber of Commerce & Industries (LCCI) and the Small and Medium Enterprise Development Association (SMEDA). It will cover topics including the potential of e-commerce, how to start exporting using Alibaba.com, what to expect from B2B e-commerce, and tips and advice on achieving sustainable growth. The event will feature a line-up of experts in the export and e-commerce fields, including are Mr Song Song, Head of Alibaba.com Pakistan; Mr Ethan Wang, Product Operation of Alibaba.com Pakistan; Mr Sheharyar Tahir, Head of External Relations of SMEDA; Mr Mian Rehman Aziz, Senior Vice President of Lahore Chamber of Commerce, Mr Md Ammar Khan, CEO of Raaziq Intl. Logistics; Mr Barrister Ahmed Uzair, an Export Law specialist of AUC| Law and Muhammad Sajid Minhas, an exporter who has Ali Gold Supplier member for more than 15 years. According to ProPakistani, With the economy and export of Pakistan booming, the national export, the trading amount is now reaching the peak value in the past 10 years. Businesses that are equipped to navigate the e-commerce market will be better positioned to benefit from the favorable trading environment. The Alibaba.com event is now open for registration. Interested parties please sign up here.

 

Lahore (Muhammad Yasir) TECNO’s most anticipated 32MP Softlight Selfie Camera – Camon 19 Neo is all set to be launched in Pakistan.

TECNO Camon 19 series was launched globally last month, leaving the local fans in anticipation. Keeping in check the increasing demand of the consumers, TECNO is launching the Neo version of the series in Pakistan. Other variants will be coming soon as well.

Camon 19 Neo is projected to bring Ultra Shine to your photography with the 32MP Softlight Selfie Camera and 48MP Bright Night Portrait. Moreover, with an FHD+ display, powerful battery, processor, and storage, the phone is all set to take the competitors by a storm.

Kelvin Zeng, CEO of TECNO Mobile Pakistan, shared his views on this occasion,

“We are really excited to bring this new device to our Pakistani consumers. The series is yet to be brought to the country but the Neo version will prove itself to be a value-for-money device with its advanced camera technology and stylish design.”

Camon 19 series has also received the iF Design Award for the amazingly stylish smartphones with classy yet modern aesthetics. The series is expected to come to Pakistan very soon. So stay tuned and follow TECNO Mobile on official social media platforms.

Lahore (Muhammad Yasir) Khushhali Microfinance Bank Limited (KMBL) is a winner of Pakistan’s ‘Best Microfinance Bank Award’, with a vision for sustainable development, through professional excellence. In 2018, it pioneered the ‘Khushhali Home Plus loans facility, offering up to 01 Million Rupees for the low-income individuals, who need affordable housing finance for the renovation and improvement of existing houses. This facility has already provided loans worth 08 billion Rupees, to more than 15,900 low-income individuals, to date, to accelerate socio-economic growth all over Pakistan.

The Government’s Markup- Subsidy Scheme introduced in July 2021, has further enriched KMBL’s high-ticket house-loan scheme to expand and enrich the bank’s portfolio. The Khushhali Apna Makaan (KAM) under the Government’s Subsidized Scheme has approved a total amount of over 3 Billion Rupees. It has serviced 1,400 rural-area individuals, by disbursing a cumulative amount of over 01.8 billion Rupees, while the total approved amount for this segment is 2.2 billion Rupees. Among these, more than 294 were female clients, who have been granted cumulative loans of 409 million Rupees, while the total amount approved for the female segment to date is 510 million Rupees.

The overall Housing Portfolio of KMBL comprises 17,800 Low-Income individuals, who have been serviced by disbursing a cumulative amount of 10.9 Billion Rupees, while the total amount approved for this portfolio is over 11 Billion Rupees. More than 13,000 Rural area customers have been serviced so far, by disbursing 08 Billion Rupees. A total of 2,515 Female clients have been serviced in this portfolio by providing loans worth 1.6 Billion Rupees.

The President and CEO of KMBL – Mr. Ghalib Nishtar stated that: “The overwhelming success of the ‘Apna Makaan’ House-Loan facility reflects the customer-centric approach and the resourceful performance of Khushhali Microfinance Bank. Improving the quality of accommodation to elevate the standard of living for the deprived masses is one of our key strategic objectives. This endeavor is also in sync with the bank’s inspirational Corporate Social Responsibility (CSR) program, aimed at improving: Financial-inclusion, poverty alleviation, empowerment, public health, education, and environmental protection.”

realme’s newest entry into the Number series of phones packs a powerful punch for photographers

Lahore (Muhammad Yasir) When purchasing devices in the mid-range, consumers have learnt to manage their expectations. Often times one would have to pick and choose between different smartphone options by making a compromise on certain features. This dilemma has become a concern of the past due to realme’s commitment to providing high quality options in the mid-range segment. realme’s drive to innovate has brought many successes in the past such as with the realme 8 Pro which was the tech democratizer’s first 108MP camera smartphone. The previous generation number series phone made waves in the minds of the public owing to its stellar camera setup. In modern times, a smartphone’s main camera has become one of the most important features of your device. Whether you want to snap a picture for social media or video chat with your loved ones, the smartphone’s camera quality is of paramount importance. This is why realme is bringing a new and improved 108MP ProLight camera setup in the upcoming realme 9 4G.

On the surface it may seem like the camera setup is the same as the realme 8 Pro but beneath the surface the realme 9 4G is the very first smartphone to come equipped with the brand new Samsung HM6 sensor allowing it to deliver superior results. The realme 8 Pro came equipped with a previous generation HM2 sensor. The brand new HM6 sensor should deliver a 123% increase in light sensitivity for the realme 9 4G as compared to the realme 8 Pro’s HM2 sensor. Equipped with 108 million pixels as small as 0.64μm, the ISOCELL HM6 sensor has the ability to render your captured memories with stunning high-definition detail. The advanced sensor also supports 3x lossless zoom which allows you to capture smooth and accurate images no matter how close or far from the subject you are.

Apart from all these revolutionary features, the ISOCELL HM6 sensor is the first to adopt the Nonapixel plus technology. This upgraded pixel binning technology has drastically improved the way it combines and utilizes light information allowing it to take bright and clear pictures even in extremely low light environments. The products of merging nine pixels at once are 12MP images with a noise level comparable to a 1.92μm big pixel. Smart-ISO allows the ISOCELL HM6 to adjust to the lighting conditions by intelligently choosing High or Low ISO mode. In conditions of dim lighting, High ISO mode converts light to a signal with higher conversion gain to illuminate details in the shadows. The process of multisampling follows which combines High ISO and Low ISO shots to reduce noise by averaging multiple frames into one. The realme 9 4G’s ISOCELL HM6 sensor has four times more autofocusing agents than the previous 0.7㎛ 108MP ISOCELL model. With its higher autofocus pixel density, you can capture fast-moving objects easily with little to no loss of image clarity.

The ISOCELL HM6 is not just great at capturing photos, it can capture highly detailed videos as well. With support for video recording at 8K 24FPS and 4K 120FPS, the high-tech sensor allows you to record moving images in both regular and slow-motion mode in incredible detail. By introducing the HM6 sensor to the market via the realme 9 4G, realme is building on its legacy of facilitating access to the latest in the tech world for its loyal consumers. This first of its kind tech makes low-light photography a piece of cake. However, the realme 9 4G is much more than a glorified camera.

The next-level handset also comes equipped with a Snapdragon 680 (6nm) processor, 90Hz Super AMOLED Display, Holographic Ripple Design, and so much more.

So keep your eyes on store shelves for the realme 9 4G when it arrives starting Saturday, July 16, 2022. 

Lahore (Muhammad Yasir) The nostalgic memories of our mothers opening rustic family trunks and taking out hand-knitted khaees and dariyan made from indigenous cotton and proudly setting them for the frequent guests have faded away. However, to try and revive this lost cultural heritage and tradition, Sarsabz Fertilizer released the second episode of its Sarsabz Kahani web series titled “Khaki Desan” which focused on the true story of Jugnu Mohsin, a well-recognized entrepreneur and public figure, who quickly realized the dearth of good quality local cotton and its dying breed called Khaki Desan which nobody was striving to preserve. This latest film is part of a strategic initiative called ‘Sarsabz Kahani’, which highlights true inspirational stories of farmers passionately fond of their motherland and its cultural heritage and was released on the momentous occasion of Eid ul-Azha as a short film on July 10, 2022, across its social media platforms.

Seeking technical assistance from Sarsabz Fertilizer, which is a brand of Fatima Fertilizer, the protagonist went on to successfully harvest the finest crop of Khaki Desan cotton to create an exceptional quality of khaddar, which is a hand-spun and hand-woven cotton cloth being used in the sub-continent since many centuries. Sarsabz Fertilizer extended their unravelling contribution and support to Jugnu Mohsin to implement this community support program as a sustainable initiative which can re-engage and empower a community of thousands of rural women in the centuries-old craft of cotton spinning and weaving and earn a decent livelihood for their families. Sarsabz also supported Jugnu Mohsin in setting up a workshop under the name “Haveli Crafts” to market the final products.

The story of this unique collaboration is multifaceted in many ways. Most importantly, it refers to the recent decline of cotton production in Pakistan which is detrimental to our economic stability. As per the Ayub Agricultural Research Institute, the cotton crop holds a 0.8 percent share in GDP and contributes 5.2% to the agriculture value addition. Cotton also holds a 51 percent share in the country’s total foreign exchange earnings. Despite this economic significance, the Pakistan Bureau of Statistics has reported that in the past 10 years cotton production has almost halved from 13.6 million bales in 2011/12 to about 7 million in 2020/21. The State Bank of Pakistan (SBP) has also reported that the crop area of cotton has significantly reduced to 2.2 million hectares, the lowest since FY82. Although in the current context, the economic survey of Pakistan for FY 2021-22 reported that the cotton crop increased from 7.1 million bales reported last year to 8.3 million bales during 2021-22. However, this gradual recovery in crop yield is faced with many challenges including a significantly reduced crop area, inconsistent gas supply to fertilizer plants resulting in limited availability of locally produced urea, and increasing cost of farm inputs for an already burdened farmer due to high market inflation.

Pakistan’s economy is largely dependent on the cotton industry and its related textile sector, and the crop has been given principal status in the country due to its integral role in economic development. Increasing the crop yield of cotton is the need of the hour given its economic significance. Also, marketing of local cotton varieties and products can also help boost our foreign exchange earnings and increase export profitability margins.

 

Karachi (Nut Desk) KE ensured uninterrupted power supply to major parts of the city during the ongoing monsoon spells in Karachi. Per KE spokesperson, maximum number of feeders affected due to rain were less than 150 of more than 1900 in KE’s network, the majority of which were temporarily powered down due to prevalence of kundas or waterlogging which could pose a safety hazard. These areas were also immediately restored upon receiving clearance from ground teams.

Heavy rains causing waterlogging at Gulshan-e-Hadeed and Gadap areas affected operations, and the utility requested civic agencies for support in draining water to safe levels to begin restoration efforts.

Amid forecast of more rains, spokesperson further added, “Citizens are advised to continue observing precautionary measures and continue to maintain a safe distance from all electricity infrastructure. Avoid using electrical appliances exposed to rains such as water motors as well. With Eid-ul-Azha approaching, we urge citizens to take special care of their sacrificial animals and avoid tethering them to any electrical infrastructure.”

Expressing sympathies and condolences with families over unfortunate incidents across Karachi, KE also categorically stated that no utility infrastructure was involved in any of the incidents reported. A report of exposed cables in Jacob Lines Area was acted upon swiftly by KE teams who have safely transferred the cables underground. Spokesperson KE advised use of call center 118 for electricity emergency complaints which are tackled on priority basis.

For guidance on other queries and complaints, the utility company remains available for consumers 24/7 for any queries or complaints via its WhatsApp number +92-348-0000118, 118 call center, SMS service 8119, KE Live App, and social media platforms.

realme unveils Sajal Aly in yet another avatar as the face of realme 9 4G– its latest offering in the realme 9 Series line-up Building on their previous collaboration with her for the realme 9 Pro+, realme has just announced that Sajal Aly will carry forward the 9 series legacy as the brand ambassador for the upcoming realme 9 4G. The actress has stunned everyone in the past with her incredible performances in every facet of her career, locally as well as in the international sphere. With a versatile and unique sense of style, the talented actress exudes effortless charisma just like the realme 9 4G. Every time a new generation of number series phones is released, realme aims to innovate in the market it serves. The majority of these products include cutting-edge technology that makes them stand out from rivals because they are the first in their category. As the fastest-growing smartphone brand, realme has been committed to bringing nothing but the best to the market since its arrival. The tech democratizer always wants to give its users the opportunity to experience flagship features in their phones at an economical price. This commitment to performance and desire to live up to the expectations of their fans is shared by Sajal and realme. Sajal Aly has the extraordinary ability to light up the screen whenever she appears on it, captivating your gaze and keeping you hooked to her mesmerizing performance. Active in the industry since 2009, Sajal made her debut with Nadaaniyaan, which was followed by an impressive role in Mehmoodabad Ki Malkain. From playing Dr. Zubia in Yaqeen Ka Safar, to the chirpy and confident Sasi in O Rangreza and then across the border with her big Bollywood debut with Mom, Sajal has proved that she is one of our industry’s finest actresses. More recently, Sajal took on challenging roles in Ishq-e-Laa where she played character of a fearless journalist who strives to tell the truth no matter what, as well as Sinf-e-Aahan where she was part of a brigade of girls from diverse backgrounds who join the Pakistan Army and rise in the ranks, becoming the eponymous ‘women of steel.’ She is now all set to make her Hollywood debut in Shekhar Kapur’s What’s Love Got to do with it? She is indeed an exceptional dynamo with unique talent who is diversifying in an effort to stray from playing just one type of role. This spirit is shared with the realme 9 series which always bring new innovation with its launch, including the latest realme 9 4G. The realme 9 4G is coming to Pakistan very soon with a launch event on the horizon in the near future. The new smartphone will be available in three stunning colors: Stargaze White, Meteor Black, and Sunburst Gold. With a unique Holographic Ripple Design, the realme 9 4G is built for aesthetics as well as performance. Sajal’s presence in the cultural zeitgeist of Pakistan is undeniable. Her status as a household name in Pakistan will be highly beneficial in drawing attention to the new, next-level realme 9 4G so that it can have a more sustained impact in the Pakistani market. Stay on the lookout for more exciting details about the upcoming realme 9 4G. 

Karachi (Muhammad Yasir) Pakistan Telecommunication Company Limited (PTCL) is set to provide ICT services to Defense Housing Authority (DHA) Phase-VIII in Karachi through its state-of-the-art Flash Fiber; Optic Fiber Cable (OFC) service. The premium service will provide uninterrupted high-speed internet to the residents and business community of the society to fulfill their connectivity needs. Head of Fixed & Wireless Access Technical South, PTCL Group, Ashar Hayat Siddiqui, and Brigadier Hafeez Ullah Khan (Retired) Secretary DHA Karachi, signed the agreement in presence of Shehzad Yousuf,Chief Business Operations Officer, PTCL, Mr Khurram Noor Chief Financial Officer DHA Karachi and other senior officials from both organizations. Speaking at the event, Shehzad Yousuf, Chief Business Operations Officer, PTCL, thanked DHA for their continued trust in PTCL. He said: “PTCL is the pioneer and backbone of Pakistan’s ICT landscape, supporting theoperations, expansion and services of a number of sectors within the country. We continue to scale-up and transform our infrastructure and service delivery system, to meet the growing demands of our individual and enterprise customers. Through such partnerships, we endeavor to further strengthen the communication network across the country, and be able to better serve our valued customers.” Also sharing his thoughts at the occasion, Brigadier Hafeez Ullah Khan (Retired) Secretary DHA Karachi, said: “We are glad to partner up with PTCL for provision of high-quality ICT services to DHA Phase-8 community. Over these years, a reliable internet connection has gained importance at par with other crucial commodities; therefore, our focus remains on the evolving needs of our community members. We commit to delivering the highest quality of service in every domain. I am positive that PTCL’s high speed connectivity will effectively fulfill the needs of residents and the business community.” PTCL Flash Fiber is Pakistan’s premium Fiber-To-The-Home (FTTH)service with speeds clocking at upto 1GBps. The OFC has various packages tailored to meet the varying needs and demands of individual and business customers. PTCL Flash Fiber network is undergoing fast paced expansion and will soon be available nationwide.