Category: Business

Lahore (Muhammad Yasir) Mashreq Bank, one of the leading financial institutions in the United Arab Emirates, has appointed Alexander Raiff as its new Group Head of Technology, Transformation and Information, starting on 1^st April 2022.

Alexander is a seasoned technology professional with over 30 years of experience; noteworthy is his role as Chief Information Officer in Abu Dhabi Commercial Bank from 2012 to 2020. More recently, he has been an Advisor & Angel Investor for Digital Banking, FinTech/RegTech & Crypto Asset Platforms. Alexander was also associated with Daimler Financial Services and Mercedes Benz from 2003 to 2012 as CIO across their Offices in Europe, China and Japan.

Speaking about the appointment, Ahmed Abdelaal, Group CEO, Mashreq, said: “Alexander joins Mashreq at a crucial moment as we lead the evolution of digital finance and the wider digital economy through the innovation and deployment of truly transformational platforms and solutions. I am delighted to be able to bring a senior leader of such caliber to this critical role, and I very much look forward to working with Alexander as we harness tomorrow’s technologies to shape the future of finance.”

Alexander Raiff, Group Head of Technology, Transformation and Information, Mashreq said: “It is a great honor to join Mashreq and to be given the opportunity to meet the demands of the new transformed economy post COVID, to help shape a new kind of financial services and develop a strategy for collaboration across Mashreq, its many stakeholders – and the wider digital ecosystem. This is an incredibly exciting time for Mashreq and me as a professional, and I look forward to joining the Mashreq team as we realize the manifold opportunities inherent within the digital economy.”

Karachi (Muhammad Yasir) Meta is collaborating with the National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP) to train and up-skill Pakistani women entrepreneurs in order to foster sustainability and resilience of women-led businesses in the country.

The program is being implemented under the ‘Business Resilience through Financial Education (BRFE)’ component of Meta’s flagship women empowerment program ‘SheMeansBusiness’. SheMeansBusiness was introduced in Pakistan in May 2020 in partnership with the SBP and USAID to bolster financial inclusion and resiliency of women-led businesses, particularly during the Covid-19 induced economic slowdown.

Under the arrangement, Meta, in collaboration with National Institute of Banking & Finance (NIBAF), will be hosting a series of online training sessions to up-skill 3,000 women entrepreneurs who are part of NIBAF’s National Financial Literacy Program for Youth (NFLP-Y). The primary aim of the program is to strengthen women’s business financial understanding and help them grow their businesses for enhancing their socioeconomic standing and role in the society. NFLP-Y program focuses on managing personal finances and has a wide reach within Pakistan.

“Financial empowerment is one of the key drivers of women empowerment. NIBAF is excited to collaborate with META to strengthen the financial literacy and digital skills of Pakistani women. We hope that this partnership will help our women craft their own entrepreneurship journeys”, says Riaz Nazarali Chunara, Managing Director NIBAF.

“We are excited to collaborate with NIBAF to foster financial education and training for Pakistan women entrepreneurs”, Beth Ann Lim, Director, APAC Policy Programs and Government Outreach  – Meta said. “Financial education is crucial for sustainability and resilience of small and medium enterprises, especially when combined with digital skills. Over the last 2 years we’ve found that entrepreneurs that have adopted digital tools have been more resilient, financial education would further enable them to adapt and grow their businesses. I hope this arrangement goes on to make a significant difference for women led businesses in the country.”

The Meta-NIBAF partnership aims to build on the two organizations’ shared experience in upskilling and enabling up and coming entrepreneurs for improved business prospects. While Meta has been leveraging its social media platforms and digital expertise for human development and economic recovery post Covid-19, NIBAF also boasts extensive capabilities and expertise in designing, and delivering a range of training programs, workshops, and seminars in subjects relevant to economics, banking, finance, and management for capacity building of commercial bankers, micro and rural finance providers, management professionals and entrepreneurs in the country. Its National Financial Literacy Program for Youth (NFLP-Y) educates the Pakistani youth and school-going children on money management skills.

Karachi (Muhammad Yasir) Archroma Pakistan Limited (PSX: ARPL), is among the Top 5 companies in the Top 25 Companies Awards for the Year 2020 of the Pakistan Stock Exchange. This is the 19^th time that Archroma has been awarded with Top 25 Companies Award, which is a recognition of its exemplary performance of sustainable excellence in terms of business development, profitable growth and financial governance, enhancing shareholders value’ and supporting UN Sustainability Development Goals (SDGs). 

Archroma Pakistan has shown consistent business growth in financial Year 2021 also and achieved Gross turnover of PKR 23.56 Billion versus PKR 17.89 Billion in financial Year 2020 with further improvement in bottom-line profitability in comparison to previous financial year.

Commenting on this achievement Mujtaba Rahim, President & CEO, Archroma Pakistan Limited stated “This significant award is a testament of the efforts made by the team and the contribution Archroma makes to the Pakistan economy. These past two years have been a great challenge for the entire world and to pass through these challenging times with flying colors and get acknowledged for it, is truly a great honour for all of us. I take this opportunity to also congratulate all other organisations who have made it to this prestigious list and wish them great success ahead.”

Archroma was formed in September 2013 from the Textile, Paper and Emulsions businesses of Clariant. Clariant itself was formed in 1995 as a spin off from Sandoz, a chemical company. Through this direct lineage, Archroma has amassed knowledge and experience of chemistry and industry spanning more than 135 years. Archroma (Sandoz) started its operations in Pakistan in 1947 and currently holds #1 position in Archroma world globally with presence in 35 Countries.  

Lahore (Muhammad Yasir) In pursuit of service excellence and facilitating Pakistanis in every possible way, Zong 4G – Pakistan’s cellular and digital services leader – now provides its International Direct Dialing (IDD) subscribers to make their own IDD bundle. Called ‘Zong IDD Mera Apna Bundle’, the offer allows Zong’s IDD users to create their own international direct dialling bundles initially for Saudi Arabia MOBILY Network Only, followed by more destinations to be made part of the offer for Zong 4G Subscribers.

Both prepaid and postpaid subscribers of Zong 4G can now choose destinations, minutes, and validity (on bill run for postpaid) as per their needs through the ‘Zong IDD Mera Apna Bundle’. “Being the leaders of ICT-powered digital transformation in the country, we know the changing connectivity needs of the customers and move proactively to address them,” shared Zong’s official spokesperson. “Customers are the heart of everything we do and we are aware of the digital needs of our subscribers.

The ‘Zong IDD Mera Apna Bundle’is a testament to our customer-centric approach and has been designed to facilitate our IDD customers better and ensure they never get out of touch with their loved ones or work.” Zong’s motto ‘Let’s get digital’ resonates well in the ‘Zong IDD Mera Apna Bundle’ which gives supreme flexibility to users to create their international bundles. and meet their connectivity needs.

The mid-range smartphone provides excellent photography capabilities with a bargain of a price tag

Lahore (Nut Desk)

In today’s age of social media, with the rise of platforms such as Instagram, people are gravitating more and more towards images and photography as a form of self-expression. It is said that a picture is worth a thousand words and this very simplicity with which images convey feelings and information is what makes them a popular medium of expression amongst the youth of today. The perfect shot doesn’t come easily to everyone but with the perfect tools in hand one can really level up their photography from basic to sophisticated. With the power-packed realme 9i you get the power of heavy-weight photography wrapped in a light-weight 190g package. Let’s take a look inside the tech democratizer’s latest offering to see what gives it the edge with its photographic capabilities.

The realme 9i comes with an advanced AI Triple Camera setup. The smartphone features three lenses, each with their own unique contributions. The primary lens is the 50MP Ultra HD Main Camera which helps you take stunning, ultra-high pixel pictures with great resolution. The second lens in the rear camera setup is the 2MP Portrait Lens. This lens is used to create the effect seen in the smartphone’s portrait mode which keeps the background of your picture out of focus while putting your subject in sharp focus. This effect makes the subject of the photo stand out more against an obscured background. The last lens featured in the rear camera setup is the 4cm Macro Lens. The Macro Lens is a lens designed for close-up photography. It has the ability to focus at much smaller distances than other lenses thus giving it the ability to take detailed photographs of miniscule subjects. You can also experiment with a range of different photography modes such as panoramic view, night mode, AI beauty, expert mode, time-lapse, HDR, filter, super text, and slow motion.

Of course, when it comes to social media most users are interested in a different kind of photos which are commonly referred to as selfies. The realme 9i features a marvelous 16MP AI Selfie Camera which delivers stunning selfies using a blend of top notch hardware and the power of AI. The AI beauty mode helps your selfies pop more by allowing you to set the level of image beautification. The performance of the AI is boosted by the realme 9i’s Qualcomm Snapdragon 680 processor which brings with it a 10% increase in AI performance and Qualcomm’s third generation AI engine. The AI mainly works its magic in AI beauty mode, night mode, and for photography in motion. What’s more, the realme 9i has got you covered with up to 128GB storage and a massive 5000mAh battery so you can take as many pictures as your heart desires without worrying about running out of battery or space on your smartphone and trusted camera.

The realme 9i brings its users good value for money, packed with exciting features for photography enthusiasts and others alike. Harness real power in your photography with the realme 9i at an economical price. You can get your own realme 9i for the attractive price of just PKR 36,999/- so go get your very own today and spice up your social media feeds.

 

Lahore (Muhammad Yasir) foodpanda, Pakistan’s leading food delivery platform and e-commerce Company, launched its latest feature, pandapro, at a grand unveiling event in Karachi. Through this event, pandapro was officially introduced as a service for the larger audience. pandapro is a membership programme which gives customers an exclusive access to flat discounts, better services and complementary food/drinks across foodpanda’s use cases.

Speaking on the occasion, Muntaqa Peracha, interim CEO foodpanda, stated, “We are very excited to launch pandapro as a service in order to strengthen long-term, ongoing relationships with our customers. We will continue to focus on providing excellent service to our customers by letting them enjoy exclusive discounts on food delivery, as well as additional discounts on Pick-Up and groceries through pandapro.

pandapro users will enjoy free delivery on all restaurants and shops in addition to the non-pro discounts on foodpanda. They will also get to enjoy up to 20% and more on selected restaurants and free delivery from all restaurants and shops on all orders above Rs.599. This benefit can also be used together with the non-pro discounts on foodpanda.

The event was attended by foodpanda’s management, loyal customers, top vendors, influencers, media houses and other key stakeholders. The event was wrapped up with an electrifying performance by Hassan Raheem who has become the latest musical sensation in the country. 

• The project was announced in partnership with Reon Energy Pakistan’s leading Solar and Storage Solutions Specialist.
• The project is set to be installed at Lucky Cement’s Pezu plant in Khyber Pakhtunkhwa.
• The project will cut around 29,569 Tonnes of CO2 equivalent emissions annually.

Lahore (Muhammad Yasir) Lucky Cement Limited and Reon Energy today announced a 34 MW captive solar power project with a 5.589 MWh Reflex energy storage. The project set to be installed at Lucky Cement’s Pezu plant in Khyber Pakhtunkhwa will hold not only Pakistan’s largest on-site captive solar plant but also the largest ever energy storage solution.

The 34 MW solar PV project is expected to produce approximately 48 GWh (Gigawatt hours) annually.  The output energy will be used on-site resulting in substantial savings for the company in cost of energy and will also cut around 29,569 Tonnes of CO2 equivalent emissions annually.

Speaking of the project, Mr. Noman Hasan, Executive Director, Lucky Cement Limited Stated “Lucky Cement Limited has always ensured to introduce and adopt the latest technologies in line with its vision of promoting sustainable business practices. This advancement will not only enhance our plant’s efficiency but will also support in curtailing Carbon emissions.” He further added “Considering the global environmental challenges, it is important to invest in such technologies, especially on the industrial level. Being an industry leader we understand our responsibility towards the environment and through such investments, we are committed to ensuring a sustainable future.”

Lucky Cement Limited becomes the third such company in Pakistan to install Reflex energy storage. This will improve the reliability of the power system by absorbing the variations of the Solar Plant and improve the overall generation efficiency by shutting down 20 MW of fossil fuel generation during the daytime whilst keeping the critical spinning reserve intact. Furthermore, storage will build flexibility into the cement plant’s power system, and allow quick response in case of any power faults enabling 24/7 operations.

Lucky Cement Limited’s contribution to conservation falls into two categories: the efforts of the Company to preserve and enrich the environment in and around its areas of operation, and the philanthropic thrust of the Company, which supports society with the management of natural resources, community development, and livelihoods.

The Company has extensively invested in implementing projects that reduce energy consumption and address issues of environmental degradation. These projects not only bring production efficiencies but have significantly reduced carbon emissions.

Milestone figure a sign of strong industry growth as accounts, value and volume of transactions all soar

Lahore (Muhammad Yasir) The GSMA has today published its 10^th annual ‘State of the Industry Report on Mobile Money’. It reveals that mobile money adoption and use saw continued growth in 2021, processing a record $1 trillion annually. The industry enjoyed a substantial increase in the number of registered accounts, up 18% since 2020 reaching 1.35 billion globally. The volumes of person-to-person transactions were up to more than 1.5 million every hour.

The report reveals that one of the most significant drivers of growth was merchant payments, which almost doubled year on year. It also highlights how mobile money continues to act as a core pillar of financial and economic inclusion, particularly for women.

Mobile money diversified its value proposition beyond person-to-person transfers and cash-in/cash-out transactions in 2021. It is now playing an important role in the daily lives of people and businesses, especially in low and middle-income countries (LMICs). The growth of ecosystem transactions such as merchant payments, international remittances, bill payments and bulk disbursements, together with interoperable transactions, are accounting for a more significant share of the global mobile money transaction mix.

Merchant payments were instrumental in the growth of the mobile money industry in 2021. The value of merchant payments almost doubled, reaching an average of $5.5 billion in transactions per month.

The number of people needing humanitarian assistance is predicted to soar to 274 million. Mobile money is expected to play an increasingly important role in both donations – where it makes delivery systems more efficient and transparent for humanitarian actors and donors – and the receipt of aid.

The UN Refugee Agency sent $700 million in cash and value assistance (CVA) to 8.5 million recipients in 100 countries in 2020. They have set up digital payment programmes in 47 countries,15 of which use mobile money. In many humanitarian settings, the digitisation of CVA via mobile money has the potential to promote agency and dignity, and foster financial inclusion.

Mobile money also helps to enable access to basic utility services and agricultural solutions in LMICs. And to ensure this work continues, the mobile industry and humanitarian sector must keep working together to advance inclusive digital and financial inclusion even further for those who need it most.

“2021 was the year mobile money started to really diversify to B2B services. Beyond traditional person-to-person transactions, such as transferring money to family or friends, the industry is now central in helping small businesses operate more efficiently, and serve their customers better” said Max Cuvellier, Head of Mobile for Development, GSMA.

Lahore (Muhammad Yasir) In an attempt to revolutionize the irrigation landscape of Pakistan, an international irrigation project was jointly deployed by Steelman Pvt Limited (A REDtone Group Company) and Punjab Irrigation Department (P.I.D).

GCCM (Geosynthetic Cementitious Composite Mat) is a product developed by Concrete Canvas UK, brought into Pakistan by Steelman Pvt Limited; a specialized Electro Mechanical firm; part of the REDtone Group of Companies.

In order to check its effectiveness, a trial was carried out jointly by Steelman and Punjab Irrigation Department at Field Research Station Babakwal. Chief Engineer, Irrigation Research Zone Lahore, Rashid Aziz, and Director Irrigation, Research Institute (IRI), Ghulam Zakir Hassan Sial, visited the site and observed the demonstration of laying this new canal lining material.

On the occasion, Chief Engineer Rashid Aziz stated, “The material looks great, the main factor observed so far is its easy and fast laying methodology. With the inception of this technique, lining project targets can be achieved ahead of time along with saving of water. Earlier I was a little suspicious about its joints but the way they are being treated with a thermal welding machine is quite satisfactory, however we will further observe the impact of varying degrees of temperature on these joints as well.”

Expressing his views, Director (IRI) Ghulam Zakir Hassan Sial said, “Pakistan has one of the largest irrigation networks in the world, however, controlling seepage through canals remains a serious concern for our country. The Irrigation Research Institute of Lahore was set up in 1924 and it has been engaged in conducting research studies on various lining materials to counter the issue of seepage loss through canals. Concrete Canvas will be declared as effective and sound for use, subsequently after processing it through various semi field conditions it will be a great breakthrough, as we get past the trial stage.”

Explaining the technology used, Deputy General Manager Steelman Pvt. Ltd.; Ehtisham Habib, expressed that, “The proposed new lining technology is quite unique and innovative as Concrete Canvas is one of those systems that is durable, cost effective, time saving and eco-friendly as compared to the traditional methodology being used locally. I am sure that the trial will be a success and, we will be able to achieve great results.”

At the end of the visit, a plantation activity was also carried out under the clean and green campaign.

Caption: Chief Engineer Irrigation Research Zone Lahore Rashid Aziz (4th from left), Director Irrigation Research Institute (IRI) Ghulam Zakir Hassan Sial (5th from left), and DGM Steelman Ehtisham Habib (1st from left), at the Field Research Station Babakwal to observe the trial of GCCM Concrete Canvas.

Lahore (Nut Desk)

The second biggest smartphone manufacturer in the world has set up shop in Pakistan and exponentially increased sales for Airlink and Xiaomi. As smartphones take us all into the digital era and are proving to be a necessity for everyone.  With access to the extensive Airlink network (consisting of over 1000+ dealers, 4000+ retailers and located in more than 300 cities across the country) Xiaomi will prove true to its words where they claim more value for money spent. 

This collaboration ensures less duties/taxes on SKD imports as the smartphone assembly in Pakistan will be reduced to zero. Previously the taxes were over 20%.  With cheap labor rates in the country, locally manufacturing and even exporting the devices in the future will drop the overall prices in the country. The collaboration not only means more value for money but also brings in revenue to the country, the opportunity presents itself as a rare occurrence for new doors to open for exponential economic growth.

Xiaomi and Airlink together present the first of many to come in the Made in Pakistan legacy, the Redmi 9C.  This locally manufactured device is launching with an all new memory variant of 4,128GB and in two new colors (Aurora Green and Lavender Purple), will be available at top distributor partners such as Phonezo, Airlink, Smartlink and Tech Sirat. For those looking to purchase it online, Xiaomi has you covered as well for the Redmi 9C is also available on MiStore & Daraz.

Available both offline and online the Made in Pakistan Redmi 9C will be available at PKR 22,999/- .

Redmi 9C Quick Specs:

Redmi 9C
Display	6.53”HD+ Dot DotDisplay
Rear Camera	13MP main camera
Front Camera	5MP in-display front camera
Dimension & Weight	164.9mm x 77.07mm x 9.0mm 196g
Processor	MediaTek Helio G35
Charging	5,000mAh (typ) battery
Memory Variant	4,128GB
Available Color	Aurora Green, Lavender Purple