Lahore (Nut-Desk)

Abdul Razak Dawood adviser to Prime Minister on Commerce informed the parliamentary panel that Pakistan will start export of mobile phones by January 2022..

The senate standing committee on commerce, chaired by Senator Zeeshan Khanzada, also grilled the commerce ministry for various issues related to Pak exports including rice and sea foods ect. Dawood informed the committee that Pakistan will start export of mobile phones by January 2022 and two Chinese companies will take the lead. One Chinese company has set up industry in Karachi.

Interestingly, the Adviser added that Samsung was asked twice to set up a factory in Pakistan and was also offered incentives but it refused. Now, when two Chinese companies have set up their factories, Samsung approached the government for incentives, said Dawood,  adding that now the company will have to set up factory on already available incentives.

Lahore (Nut-Desk)

Friesland Campina Engro Pakistan limited (FCEPL) have inked a strategic communication partnership with the Nutshell Communications Limited. Now, Nutshell communication will look after all the media communication work of friesland campina.

Photograph taken during the agreement signing ceremony shows (sitting form left to right) FCEPL chief financial officer Imran Husnain, Nutshell communication founder and CEO Muhammad Azfar Ahsan, FCEPL Chief Executive Officer Ali Ahamd Khan, Nutshell Communication Chief Growth Officer Rabia Ahmad.

FCEPL Marketing director Faisal, FCEPL Corporate Communication Assistant manager Ayesha Yousaf, Nutshell Communications chief operating officer Sadaf Mehmood, FCEPL Head of corporate communication sania sattar, Nutshell communication chief business officer Syed M Ayaz, Nutshell Communication chief strategy officer Amer Pasha, Nutshell communication head customer experience and new initiatives  sanya Shahid and head of media relations khurram zia.

According to the industry sources, this partnership deal will prove beneficial for both the groups as both are through professionals in their own spheres.

Lahore (Nut-Desk) Leading actress Sarah khan has been chosen as brand ambassador by emerging brand Mamia Baby & Adult Diapers. The signing ceremony in this regard was held in a private hotel in Karachi, in which Sarah’s husband singer Falak Shabier was also present.

Sarah tied knot with Falak Shabier last year and they are going to be parents very soon. Sarah looks very glowing and ravishing in the ceremony.  The  Televisoin commercial will be shown on all well-known TV channels. Mamia diapers have good quality and economical price, Mamia diapers are available all over Pakistan and online.

It may be noted that Molfix diapers selected Aiza khan upon their launch in Pakistan a few years ago, similarly another brand Mamia has approached another mom be actress Sarah khan for launch in Pakistani market and like Aiza & Molfix partnership, it will also prove a successful collaboration indeed.

Lahore (Nut-Desk)

Pakistan leading mobile network operator (MNO) Telenor closed the half-year ended June 30, 2021, on a mixed note. Telenor (Pakistan subsidiary) managed to grow operating profits by 17 percent year-on-year to Rs12 billion in 1HCY21, as per latest financial results announced by Telenor Group.The turnaround comes after this MNO recorded 11 percent yearly contraction in operating profits during CY20. On the other hand, average revenue per user (ARPU) continues to chart downward trend.

At the top, the total revenues reached almost Rs53 billion in the six-month period, showing a growth of 6 percent over 1HCY20. (Rupee figures are derived after conversion from the reported Norwegian Krone (NOK) data). At this pace, Telenor Pakistan is set to cross the Rs101 billion in topline that it scored during CY20. But it will still be shy of the level it reached in CY18, underscoring the need for faster revenue growth.

The ARPU is going down despite the operator reporting strong double-digit growth in revenues from data services (mobile broadband). It is likely that new users are pulling the average down amid existing users cutting back, necessitating the need to improve monetization of the subscription base. The operator is spending significant amount of capital on boosting its mobile broadband network – capex stood at nearly Rs9 billion in 1HCY21, up almost 9 percent over the same period last year.

As ARPU slides amid erosion of purchasing power in a price-sensitive market, operators in this sector have had to contain their spending in order to shield profitability from the effects of rising energy prices amid higher marketing spend due to stiff competition for data subscribers. In 1HCY21, Telenor Pakistan grew its EBITDA by 4 percent year-on-year to Rs29 billion, posting EBITDA margin of 54 percent (1HCY20: 55%).

Despite lower ARPU, Telenor Pakistan managed to post better operating performance in the analysis period. Yet, the group financials could have reaped more benefit had it not been for rupee depreciation negatively impacting growth in NOK terms. While the whole sector is feeling the pressure on the ARPU front, the latest budget also failed to excite (read: “Budget scare for digital economy,” published June 16, 2021). Operators need to beef up data monetization efforts in what remains a challenging environment.

Topline expansion is contingent on continued subscription growth and users spending more on connectivity. The revenue growth in the analysis period is driven mainly by the effect of addition of nearly 4 million subscribers, with the overall subscription tally reaching 48.8 million as of June 2021. This growth is healthy. But at the same time, the ARPU came down to Rs167 per month during 1HCY21, down 7 percent from Rs180 per month during 1HCY20.

Lahore (Nut-Desk)

Shares of General Electric (GE) record significant rose on Tuesday as it scored increased orders in aviation and other key divisions in comparison same period of previous year.

Aviation orders jumped 47 percent compared with the year-ago period when the travel industry was mired in the coronavirus downturn, as the company benefited from a series of new plane acquisition plans by major carriers. GE also garnered increased orders in healthcare, renewable energy and power.

Revenues also rose across GE’s business during the quarter, lifting overall revenues nine percent to $18.3 billion, above analyst expectations, and enabling the company to boost its projections for 2021 industrial free cash flow.

GE Chief Executive Lawrence Culp said that “Momentum is building across our businesses, driven by healthcare and services overall, with aviation showing early signs of recovery. “Based on our encouraging cash results, we are increasing our full-year free cash flow outlook.” Since being named chief executive of GE in 2018, Culp has overseen asset sales and cost-cutting moves after a bumpy stretch for the US giant, which was bumped from the Dow index.

For the quarter, GE reported a loss of $1.2 billion, compared to a loss of $2.2 billion in the 2020 period. Factors behind the loss included interest payments and other costs connected to debt reduction.Shares rose 3.5 percent to $13.37 in pre-market trading.

Lahore – (Nut-Desk)

“Lahore Prime” a project by Lahore Central Business District Development Authority (LCBDDA) also known as Central Business District Punjab (CBD Punjab) contributing to the urbanization of Pakistan and thus have amalgamated their resources to build a business community never seen before in the country. LCBDDA has announced the auction of 5 commercial plots at Main Boulevard Gulberg, Kalma Chowk Ferozepur Road. The project is completely backed by the Punjab Government and is a Mega High-rise development with favorable bylaws.

Talking on the announcement CEO, LCBDDA, Mr. Imran Amin said “The launch of Lahore Prime is not only a symbol of our commitment to the vision of the government but an icon of change in the relevant field. Apart from creating jobs and business opportunities in the region, Lahore Prime will result in bringing foreign investment into the country. The financial impacts of Lahore Prime under CBD include approximately Rs. 250 billion in the form of taxes for the government in its 1st phase, whereas, the generation of more than 1,300 billion revenues are also adding the significance of the project.”

The site spans across 105 hectares situated between Walton Train Station to the South and the Sports Park to the North. It is connected by Gulberg Boulevard Road on the North-west and Ferozepur Road to the South-West. The site is also adequately served by public transport, with the Lahore Metro with multiple stops across Ferozepur Road and Walton Train station at the Southern end which connects it to the countrywide rail network.

The CBD in Lahore aim to play a vital role in economic growth with attracting people seeking business & job opportunities. LCBDDA through its “Smart City Mission” will identify initiatives which can be taken up for the benefit of residents spread across the CBD Punjab. LCBDDA supports ‘smart applications’ or ‘smart solutions’ in routines with services. The technology needs to be encouraged within CBDs for better systems and conducive environment for economic growth in Pakistan to attract more capital.

Lahore (NUT-DESK)

Chinese electronics firm Xiaomi has overtaken Apple as the number two global smartphone maker in a sizzling market with consumers emerging from lockdowns, a new survey showed. Apple dropped to the number three position.

The Canalys survey of second-quarter sales released Thursday showed worldwide smartphone sales up 12 percent, with South Korea’s Samsung holding its top position with a 19 percent market share. Xiaomi meanwhile surged to the number two position for the first time ever with a 17 percent share as sales jumped 83 percent, according to Canalys.

Apple dropped to the number three position with iPhone sales up just one percent, after getting a lift from last year’s new models.“Xiaomi is growing its overseas business rapidly,” said Canalys research manager Ben Stanton, citing gains of 300 percent in Latin America, 150 percent in Africa and 50 percent in Western Europe.

Chinese makers Oppo and Vivo held fourth and fifth place in the global market, each with around 10 percent, according to the Canalys preliminary estimates. Canalys said the smartphone market is extending gains as the global economy emerges from the coronavirus pandemic, lifting overall consumer spending. Xiaomi was recently removed from a US blacklist of Chinese firms subject to sanctions over national security concerns.