Category: Business

Global accountancy body with members in 180 countries celebrates major landmark of exceeding 250,000 members in its 120^th anniversary year.

Lahore (Muhammad Yasir) ACCA (the Association of Chartered Certified Accountants) has unveiled its latest membership figures of 252,500, taking its membership to above quarter of a million following decades of strong growth.

It celebrated its 200,000 member landmark just seven years ago in 2017, and the new figures represent an increase of around 2% in membership since this time last year. ACCA also has more than 526,000 future members.

Ronnie Patton, president of ACCA, said: ‘The scale and scope of this achievement is amazing, and it says so much about how we attract so many people to join our worldwide community. It also highlights the substantial contribution we make to the number of qualified professional accountants across the global economy.

‘Our members live and work in 180 countries. This means that the voice of ACCA is heard in every corner of the planet, and the positive influence of ACCA members is felt everywhere. That’s why today we celebrate not just the size of our membership, but also the impact and contribution our members make.’

Founded in 1904 to widen access to the profession, ACCA in 1909 became the first professional accountancy body to admit women to membership and is known for its long history of inclusion and work for the public good. It will celebrate its 120^th anniversary in November this year.

Celebrations over the year will focus on the impact of members in building a better world, sharing and showcasing their stories.

Helen Brand, chief executive of ACCA, said: ‘This is an exciting achievement and we’re proud to have so many talented and committed members around the world undertaking successful careers and making such a positive impact.

‘Looking to the future, we look forward to leading an inclusive profession for a changed world, with people from all backgrounds, bound by a global code of ethics and committed to continually developing their skills to meet ever-changing needs.’

ACCA members work in a huge variety of roles in accounting, management and leadership across the business and public sectors. ACCA has played a leading role in widening the scope of accountancy to encompass strategy, sustainability and broader professional skills. It also works to share its global insights and expertise to contribute to strong and thriving economies and a better, more sustainable future for all.

You can watch our quarter of a million celebratory video here: https://www.youtube.com/watch?v=yCJ2-oMyL0s

Pakistan (Muhammad Yasir)

TikTok is proud to announce significant advancements in AI transparency and media literacy, reinforcing its commitment to safe and responsible content creation. In collaboration with the Coalition for Content Provenance and Authenticity (C2PA), TikTok is set to become the first video sharing platform to utilize Content Credentials technology to automatically label AI-generated content (AIGC) when uploaded from various platforms.

Understanding the potential challenges posed by AI-generated content, TikTok has implemented a robust system to enhance transparency. This initiative includes the automatic labeling of all AIGC using TikTok’s proprietary AI effects. Over the past year, more than 37 million creators have benefited from TikTok’s innovative labeling tools, promoting a clear understanding of content origins.

Furthering its transparency efforts, TikTok will soon extend Content Credentials to all its content, allowing the metadata to remain with the content even when downloaded. This feature enables users and external platforms to verify the authenticity of the content, promoting a universal standard of transparency across the digital landscape.

In partnership with MediaWise and WITNESS, TikTok is launching a series of educational campaigns aimed at enhancing media literacy. These initiatives are designed to empower users to critically assess online information, distinguishing between genuine and misleading AI-generated content. Throughout the year, TikTok, in collaboration with MediaWise, will release a series of 12 videos focused on fostering universal media literacy skills.

Dana Rao, General Counsel and Chief Trust Officer at Adobe, commended TikTok’s efforts.”With TikTok’s vast community of creators and users globally, their involvement in both C2PA and CAI is pivotal. In today’s digital age, ensuring content authenticity is crucial. This partnership marks a significant step towards that goal,” said Dana.

Alex Mahadevan, Director of MediaWise, expressed enthusiasm about the partnership: “Since launching our Teen Fact-Checking Network on TikTok in 2019, we’ve seen significant engagement. We are excited to further empower people to discern fact from fiction online through these new initiatives,” he said.

By joining the Adobe-led Content Authenticity Initiative (CAI), TikTok is at the forefront of adopting industry standards that foster content authenticity. This collaborative effort is expected to gradually increase the amount of auto-labeled AIGC on TikTok, enhancing user experience and trust.

Lahore (Muhammad Yasir)

Extremely heartening and vibrant participation from solar industry marked the commencement of the highly anticipated SIXTH ISEM Pakistan Solar Exhibition and Conference at the Expo Centre Lahore. The event, inaugurated on Friday, promises to be a significant gathering for professionals, stakeholders, and enthusiasts within the solar energy sector in Pakistan and across the globe.

The three-day exhibition, running until Sunday, has drawn the participation of various leading solar companies showcasing their innovative products and solutions.

With a focus on sustainable energy practices, the event aims to promote awareness, foster industry collaborations, and drive the adoption of solar energy technologies across Pakistan.

Speaking as the chief guest, Senator Lt-Gen (Retd) Abdul Qayyum, Chairman Pak-China Business Forum, expressed optimism about the event, highlighting its potential to catalyze growth and development in the renewable energy sector.

APTMA Advisor Tahir Bashir Cheema emphasized the government’s commitment to creating an enabling environment for sustainable energy initiatives, encouraging private sector investment, and promoting technological advancements in solar energy production and distribution.

The Pakistan Solar Exhibition and Conference serve as a platform for industry leaders, policymakers, investors, and researchers to exchange ideas, discuss emerging trends, and explore avenues for collaboration.

Attendees can expect insightful panel discussions, keynote presentations, and networking opportunities designed to spur innovation and drive the sector forward.

Visitors to the exhibition can explore a wide range of solar products and solutions, including solar panels, inverters, energy storage systems, and solar-powered appliances. Exhibiting companies are showcasing their latest advancements in solar technology, highlighting the efficiency, reliability, and cost-effectiveness of solar energy solutions for residential, commercial, and industrial applications.

The event’s location at the Expo Centre Lahore provides a central hub for industry stakeholders to converge, engage in meaningful dialogue, and forge partnerships that can contribute to Pakistan’s sustainable energy goals. With growing global interest in renewable energy sources, the Pakistan Solar Exhibition and Conference underscore the country’s commitment to leveraging solar power as a key driver of economic and environmental sustainability.

In the first quarter of 2024, realme has demonstrated remarkable performance in Pakistan’s smartphone market, overtaking smartphone manufacturer Samsung in terms of sales. With a year-over-year growth of 519%, realme’s strategic innovations and customer-centric approaches are reshaping its market presence.

Extended Warranty: A Commitment to Quality

A standout feature of realme’s strategy is its industry-leading 24-month warranty offered with devices like the realme Note 50. This warranty is not just a testament to the quality and durability of their products but also instills greater confidence among consumers. realme’s commitment extends beyond the norm, providing customers with peace of mind and demonstrating their confidence in the product’s long-term performance.

Launch Success: realme Note 50 and realme C67

The launch of the realme Note 50 was a key factor in this quarter’s success. This device not only comes with the generous 24-month warranty but also boasts impressive specifications that cater to tech-savvy users without breaking the bank. Additionally, the realme C67 has made significant inroads with its robust features at competitive price points, further solidifying realme’s market position.

Innovation and R&D: Driving Forces Behind the Company’s Success

realme’s surge is underpinned by its relentless focus on innovation and research & development. By consistently integrating the latest technologies and tailoring their products to meet the evolving needs of consumers, realme has managed to stay ahead of the curve. The focus on R&D has allowed Realme to offer high-caliber, feature-rich smartphones that deliver enhanced user experiences at accessible price points.

Forward-Looking Strategie

realme’s approach goes beyond just selling smartphones; it’s about creating a brand that resonates with its users through innovation, reliability, and affordability. Their ongoing efforts in R&D ensure that realme devices are not only competitive but also at the forefront of the technology curve. By maintaining a pulse on consumer needs and industry trends, realme is well-positioned to continue its growth trajectory and further increase its market share.

As realme continues to innovate and expand its product line, its focus on customer satisfaction and market adaptation will likely carry forward its momentum, setting new benchmarks in the smartphone industry in Pakistan and beyond.

 

Karachi (Muhammad Yasir)

Commuters with M-Tags can now enjoy hassle-free journeys through toll plazas without stopping, reducing congestion and wait times, by simply topping up their M-Tag accounts through the Zindigi app. One Network, the ICT services company managing the M-Tag infrastructure and services for Frontier Works Organization has orchestrated an integration agreement between FWO and Zindigi, the digital banking initiative of JS Bank for integrating M-Tag top ups with no extra charges for convenience and efficiency.

This collaboration aims to augment the M-Tag seamless travel experience for travelers, allowing them to recharge their M-Tag accounts from the Zindigi app, in addition to already available One Network Mobile App and other digital wallets. The agreement signing ceremony was held in the presence of esteemed executives from both participating organizations. Both One Network and Zindigi prioritize security and reliability, ensuring that transactions always remain secure and accessible. This ensures a smooth, secure, and hassle-free toll payments and travel experience for travelers on motorway.

Atif Ishaque, Chief Business Officer at Zindigi added: “Our latest initiative is solely focused on enhancing customer experience by providing seamless top-up option for their m-tags. Our collaboration with One Network aligns perfectly with this vision, providing a convenient solution for toll payments.”

“We’re aiming to provide maximum top up options for M-Tag customers and thus we have integrated with Zindigi Mobile Wallet to leverage upon their active user base. By integrating our M-Tag services with their digital platform, we empower travelers to navigate motorways seamlessly through Express Lanes” says Ms. Fatima Anila, Chief of Business Strategy at One Network; while expressing her enthusiasm about the digital transformation of motorways and toll tax collection in Pakistan.

Pakistan (Muhammad Yasir)

In the sprawling expanse of Lahore, Punjab, Pakistan, a revolutionary project is underway, poised to redefine the region’s technological landscape and economic trajectory. NSIT City spanning over 800 acres, emerges as a beacon of progress, innovation, and opportunity. What was once known as the Lahore Knowledge Park, dormant and untapped for a decade, now finds renewed purpose and vigor under the visionary leadership of Chief Minister Punjab Maryam Nawaz Sharif. This transformation breathes new life into the project, infusing it with a sense of purpose and direction. NSIT stands as a testament to the power of visionary leadership and strategic planning. Divided into three key segments – the IT & Tech District, Education City, and Film City – NSIT aims to create a comprehensive ecosystem that nurtures technological innovation, fosters educational excellence, and stimulates creative industries. Each segment plays a pivotal role in shaping Punjab’s future as a hub of technological advancement and economic prosperity. At the heart of NSIT lies the ambitious Celestia, a twin-tower IT building set to mark the beginning of a new era for the project. This iconic structure will serve as a symbol of progress and innovation, attracting businesses, investors, and talent from across the globe. With its construction set to commence in the initial phase, Celestia embodies the spirit of NSIT – bold, ambitious, and forward-thinking. The timeline for NSIT’s development is ambitious yet achievable, with the entire infrastructure of the project anticipated to be finalized within three years. This rapid pace of development reflects the commitment of the Punjab government to realize the full potential of NSIT and harness its transformative power for the benefit of the region. The projected creation of approximately one million jobs underscores the economic impact of NSIT, providing employment opportunities for countless individuals and driving economic growth across sectors. To ensure the sustainability and viability of the project, NSIT adopts a multi-faceted revenue model that includes self-generation, joint ventures, and Real Estate Investment Trusts (REITs). This diversified approach to revenue generation minimizes risk and maximizes returns, ensuring the long-term success of NSIT as a sustainable and self-sustaining entity. With an estimated investment of 100 Billion PKR, NSIT represents a significant commitment to the future of Punjab and its people. In addition to its economic impact, NSIT is poised to become a center for technological innovation and research, driving advancements in fields such as artificial intelligence, blockchain, and cybersecurity. By fostering collaboration between industry, academia, and government, NSIT aims to create a fertile ground for innovation and entrepreneurship, paving the way for the next generation of tech leaders and pioneers. Furthermore, NSIT’s designation as a special economic zone and the Punjab government’s declaration of tax-free status for ten years further incentivize investment and growth within the project. These measures demonstrate the government’s unwavering commitment to fostering a conducive environment for business development and economic prosperity. The recent launch of the Silicon Block by the Central Business District Punjab has received overwhelming response from the business community, further solidifying NSIT’s position as a premier destination for tech-driven enterprises. This vibrant ecosystem of innovation and entrepreneurship sets NSIT apart as a visionary project with the potential to shape the future of Punjab and beyond. But NSIT is more than just a collection of buildings and infrastructure; it represents a bold vision for the future of urban living. By integrating cutting-edge technology, educational excellence, creative industries, sustainable practices, and holistic healthcare, NSIT aims to uplift lifestyles, redefine urban living, and foster prosperity for all stakeholders. The strategic master plan for NSIT embodies a bold vision for the future, one where boundaries blur, possibilities abound, and progress knows no limits. It envisions a vibrant ecosystem where individuals thrive, businesses flourish, and communities prosper. NSIT stands not only as a physical space but as a testament to innovation, sustainability, and community empowerment. As we embark on this journey towards a brighter and more inclusive future, NSIT invites all stakeholders to join hands in realizing its vision. Together, let us shape a future where NSIT becomes the epicenter of technological innovation, economic growth, and social progress. Welcome to NSIT City, where the future meets possibility, and dreams become reality.

Philip Morris International Demonstrates Clear Progress Toward Its Purpose as It Releases 2023 Integrated Report.

Karachi (Muhammad Yasir)  Philip Morris International (“PMI”) has released its fifth annual Integrated Report, which outlines the company’s ongoing work to advance toward its 2025 Roadmap goals, with the primary focus on addressing the health impacts of the company’s products.

The 2023 Integrated Report highlights PMI’s continued expansion of smoke-free alternatives in markets worldwide including Pakistan, as well as social and environmental programs deployed with and in parallel to these products—including the deployment of responsible marketing and sales practices and efforts to reduce post-consumer waste. Further, PMI reports its progress toward fostering an empowered and inclusive workplace, improving the quality of life of people in its supply chain, decarbonizing its operations and value chain, and preserving nature and biodiversity.

“2023 was a year marked by unity, determination, and a continued commitment to our vision of a smoke-free future,” said Jacek Olczak, CEO of Philip Morris International. “As we encounter new challenges, our people’s enduring resilience, exceptional talent, and depth of purpose ensure we are well-equipped to continue our journey—pursuing progress, embracing innovation, and fostering sustainability.”

PMI’s supply chain sustainability efforts include water stewardship certification, aiming to optimize 25 million m³ of water by 2033.  The “Laser Land Leveler” project, which entails using laser technology to enhance traditional land leveling, contributes to this goal. We also prioritize employee well-being through various initiatives such as enhanced medical entitlements and one medical plan for all employees.

“At PMPKL, we believe that openness drives positive transformation, and PMI’s Integrated Report embodies company’s dedication to upholding the highest standards of governance and sustainability,” stated Uroos Ahmed, Head of Communication, at PMPKL. “We are proud to share our triumphs, learnings, and bold ambitions as we strive to create lasting value for our stakeholders and make a meaningful impact on the communities, we operate in.”

 PMI’s sustainability strategy addresses two distinct forms of topics: those related to its products (what the company produces), which are part of the “Product Impact” pillar, and those related to its business operations (how the company produces), which are part of the “Operational Impact” pillar.

 

Pakistan (Muhammad Yasir)  The Professional Accountants in Business (PAIB) Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organized CFO Conference 2024 on theme “Curating Responsible Growth: Innovate, Illuminate, and Integrate,” at a local hotel.

Mr. Ahsan Iqbal, Federal Minister of Planning, Development & Special Initiatives, in his address, emphasized the critical role of responsible growth in shaping sustainable economic development. He highlighted the need for innovative strategies, illuminating insights, and integrated approaches to drive progress while ensuring accountability, transparency, and inclusivity in the development agenda. He underscored that peace, political stability, and continuous reforms are indispensable cornerstones for Pakistan’s success, with CFOs poised to play a vital role in driving this transformative agenda forward.

In his compelling address, Mr. Farrukh Rehman, President ICAP, underscored the imperative of curating growth with a conscientious approach. He emphasized that sustainable, ethical expansion, aligned with the organization’s long-term vision, is paramount for enduring success. He highlighted the need for innovation in financial management, urging CFOs to explore new technologies, strategies, and business models to drive growth while maintaining financial integrity and social responsibility.

In his presentation on “CA Pakistan and its Contribution,” Muhammad Maqbool, Council Member ICAP, eloquently delineated the profound impact of chartered accountants on the socio-economic landscape. He emphasized how their expertise and ethical stewardship have not only facilitated business growth but also fostered financial stability and integrity within the nation. Furthermore, Maqbool accentuated the pivotal role of CA Pakistan in shaping a prosperous future, inspiring the next generation of financial leaders to uphold the highest standards of professionalism and ethical conduct.

The highly anticipated panel discussion on the intriguing topic of “From Vision to Value: CFOs to Drive the Growth” featured esteemed guests who shared invaluable insights, strategic perspectives, and actionable strategies to navigate the evolving financial landscape and drive organizational growth. The guests included Mr.  Aneel Peter, Chairman NRC ICAP, Mr. Amin Rajput, Deputy Managing Director SSGC, Ms. Amna Zaidi, Transformation Specialist and Mr. Ali Imran Chaudhry, CEO, Engro Enfrashare.

The engaging dialogue on “Illuminating Investments” saw esteemed panelists delve into innovative strategies, insightful analyses, and visionary approaches to maximize returns, mitigate risks, and foster sustainable growth in an ever-evolving investment landscape. The esteemed guests were Mr, Azfar Ahsan, Founder & Chairman, Nutshell Group and Mr. Zeeshan Ijaz, Vice President ICAP. In his address, Mr. Samiullah Siddiqui, Council Member ICAP, shared the conference objectives, vision, and ICAP’s substantial contributions to the finance and economic sector of Pakistan. He highlighted the significance of the conference and its direct relevance to professionals in the business and finance fields.

The eagerly awaited panel discussion on the compelling theme of ‘Unveiling Economic Landscapes’ highlighted trends, challenges, and strategies for navigating diverse economic landscapes, offering valuable insights into maximizing opportunities and mitigating risks in various economic contexts. It brings together a distinguished panel of experts who share invaluable insights and perspectives. Among them are Mr. Ashfaq Yousuf Tola, Former Minister of State and Former President ICAP, Dr. Amjad Waheed, CEO NBP FUNDS, Dr. Vaqar Ahmed, Joined Executive Director SDPI Pakistan and Muhammad Awais, Council Member ICAP.

Irfan Siddiqui, President & CEO, Meezan Bank Ltd, delivered a keynote presentation on ‘Seizing Opportunities, Harnessing Potentials, and Confronting Challenges: Path to Growth.’ He navigated the audience through a comprehensive exploration of strategies for capitalizing on opportunities, unlocking potentials, and effectively confronting challenges in the journey towards growth. Mr. Siddiqui emphasized the importance of agility, innovation, and resilience in today’s dynamic business landscape. The next segment featured a dialogue on “Curating Competitive Models for Dynamic Markets” between Ms. Jahanara Sajjad Ahmad, Group Governance & Financial Advisor and Mr. Salman Amin, Member, Competition commission of Pakistan GOP. They delved into an in-depth exploration of strategies for crafting competitive models tailored to dynamic market environments. They discussed innovative approaches, market trends, and regulatory frameworks shaping competitive dynamics.

Mr. Saquib Ahmed, Head SAP Pakistan, Iran Afghanistan & Bahrain on his presentation on “Technology for All”. He discussed the transformative potential of technology in fostering inclusive growth and sustainable development. Mr. Ahmed highlighted the role of technological innovations in overcoming barriers to access and promoting digital inclusion across diverse sectors and demographics. The panel discussion on “Surfing the Wave of Digitization: Assessing Our Readiness” shed light on the transformative impact of digitization across industries and sectors. The panel included Mr. Anas Farook, CFO OGDCL, Mr. Badar Khushnood, Co-Founder Bramerz, Mr. Ayub Ghauri, Executive Director Netsol Technologies and Mr. Sajjad Syed, Chairman Excellence Delivered. They discussed the opportunities and challenges posed by rapid digitization, emphasizing the need for organizations to adapt and innovate in the digital age.

The panel discussion on “Thriving Responsibly Beyond Green Horizon” highlighted the imperative for businesses to embrace sustainability as a core driver of growth and innovation. The guests included Mr. Adnan Younus Lodhi, Policy Advisor GRASP Project UN-ITC Geneva, Ms. Humera Qasim Khan, Climate transformational and Environmental specialist, Mr. Adnan Shafqat, COO Beyond Carbon and Mr. Bilal Anwar, CEO NDRMF.

The well attended conference provided a platform to leading industry experts and business professionals to discuss, debate and seek pragmatic solutions of emerging business and finance issues.

Dubai (Nut Desk)

NymCard, a leading embedded finance solutions provider in
MENAP, has signed a strategic partnership with Dellsons Associates
(Pvt) Ltd, a renowned banking consultancy firm, to promote innovation
in the fintech landscape and empower businesses across the Middle East
and Pakistan.

The strategic alliance will synergize NymCard’s cutting-edge
technology with Dellsons’ regional expertise and industry connections
in the financial and banking sectors. The partnership agreement was
officially signed at the recent Dubai Fintech Summit.

Under this collaboration, Dellsons will act as a partner agent,
referring new business opportunities, client deals, and valuable
contacts to NymCard, focusing on the fintech and banking sectors in
the UAE and Pakistan. Dellsons’ extensive network and industry
knowledge, coupled with NymCard’s innovative solutions, create a
powerful alliance to revolutionize the financial services landscape.

“NymCard’s objective is to transform the embedded financial sector by
introducing innovative value propositions. We are excited to partner
with Dellsons Associates, believing the synergies from this
collaboration would catalyze cross-regional expansion for both
institutions”, said Shiraz Ali, Chief Business Officer at NymCards.

Ibrahim Amin, Dellson Associates, Chairman, added: “We at Dellsons
Associates are working in Pakistan and Middle East region to promote
fintech innovation, financial inclusion, and digitization of
cross-border channels of remittances to facilitate different states.
Our key objective is to bring social and economic development through
technological solutions, collaborations with emerging players, and
networking with communities in Pakistan, the UAE, and different
countries of the Middle East and South Asia.”

Tufail Ahmed Khan, CEO of Dellsons Associates UAE, said:  “Pakistan
and UAE are two emerging states that can boost regional economies on
different fronts, including collaboration in two key areas—technology
and finance. We at Dellsons are connecting two states, private sector
institutions, and communities through various platforms, mainly
through conferences and exhibitions.”

Gujranwala (Muhammad Yasir)

Yadea (Eiffel Industries Ltd), the globally renowned leader in electric vehicles, celebrated the grand opening of its newest showroom in Gujranwala with a spectacular ceremony on May 06, 2024. Located on GT Road Near DC Colony, the expansive 2200 sqft store boasts a complete range of products available in all colors, providing customers with a premium shopping experience.

At the heart of the grand opening is the unveiling of Yadea’s flagship models, showcasing cutting-edge technology and unparalleled performance. Among the highlights are the Yadea T5 featuring TTFAR technology, the Ruibin with an impressive mileage of 100 km, and the G5 equipped with 12-inch tires and front and rear disc brakes, a favorite among European and American riders.

“We are thrilled to bring Yadea’s world-class electric vehicles to Gujranwala,” said Mr. Muhammad Salman, Managing Director of Yadea Pakistan. “Our showroom is not just a place to shop; it’s an immersive experience where customers can discover the future of mobility firsthand.”

The grand opening ceremony was graced by the presence of esteemed dignitaries, including Mr. Alex Zhao, Director Sales South Asia, and Mr. Muhammad Adeel Usman, Director of Eiffel Industries Ltd. Speaking at the event, Mr. Zhao expressed his enthusiasm for Yadea’s expansion in Pakistan, stating, “We are excited to witness the growing demand for electric vehicles in Pakistan and are committed to providing innovative and sustainable mobility solutions to meet the needs of consumers.”

In addition to an extensive product range, the showroom is fully equipped with after-sales spare parts and service equipment, ensuring that customers receive top-notch support and maintenance throughout their ownership journey. To further enhance customer convenience, Yadea Gujranwala offers complimentary door-to-door service for all customers in need.

Yadea’s mission is to provide global users with a wonderful journey, while their vision is to serve worldwide users and become a world-class enterprise. With a commitment to cleaner and greener solutions, Yadea aims to transform the Pakistani landscape, offering eco-friendly alternatives to combat pollution and promote healthier living for communities and citizens across Pakistan. Join us at Yadea Gujranwala and experience the world’s number one best-selling two-wheeler brand firsthand.