Category: Business

Master Changan Motors, a disruptive automobile manufacturer known for breaking the status quo and compelling competitors to upgrade their decades-old models, has unveiled the Black Edition of its popular “Smart sedan” Alsvin, offering an exclusive and stylish look for discerning car buyers.

 The Alsvin Black Edition features several significant aesthetic upgrades and is targeted towards individuals who seek to stand out from the crowd and crave to accentuate the sporty design of Alsvin. The sleek and sophisticated look of the Black Edition is ideal for individuals who value both performance and aesthetics in their driving experience.

On the outside, the Alsvin Black Edition undergoes a transformative blackout treatment with sleek black door handles, black outside rear view mirror and black alloy wheels whispering a promise of exclusivity as you approach. The black roof creates a dynamic silhouette that cuts through the crowd and hints at the power and performance beneath.

The transformation continues inside the cabin, where Alsvin Black Edition showcases premium and sporty black leather seats, black door trims, black roof headlining and black center console replacing the previous beige theme and complementing the black exterior theme, enhancing the overall sporty feel of the car. The additional cost of all the premium yet sporty black theme is only Rs 25,000 while other status-quo brands normally charge 40,000 to 65,000 for only black interior.

The Black Edition maintains the style and performance that have made the Alsvin a popular choice, retaining all the features and benefits of the Lumiere variant, including several industry firsts:

• Cruise control
• Start-Stop Technology
• Heated side mirrors
• Sunroof
• Safety features like reverse parking sensors, camera, and airbags
• Technological advancements like a EURO 5 engine

In addition, the Alsvin offers a fuel average of 12 – 15 km/litre, providing cost-effective efficiency. Its aerodynamic body and well-built dimensions also provide excellent road grip and handling for a smooth driving experience.

Commenting on the launch, Syed Shabbir Uddin, Director of Sales and Marketing at Master Changan Motors, expressed his gratitude for customers’ support for Changan, he stated, “I’m deeply thankful for our customers who appreciated the Pakistan’s most accessibly priced “diggi wali gadi”. We are glad to bring this limited Black Edition of Alsvin for our customers who otherwise spend a lot of money to modify the aesthetics to highlight and enjoy Alsvin’s sporty design”.

Priced at Rs 4,574,000, the Black Edition is only Rs 25,000 more than its regular beige variant while some car models charge Rs 40,000 to Rs 64,000 only for a black interior. Overall, this allows customers to enjoy a sporty and sophisticated look without having to overspend.

 

Variants	Ex-Dealer Price	Difference	Change points
Alsvin Lumiere	PKR 4,549,000	25,000/-	1.        Black Roof 2.        Black Door Handles 3.        Black Sideview Mirror 4.        Black 15″ Alloy Wheels 5.        Black Leather Seats with White Stitching 6.        Black Roof Lining 7.        Black Interior Door Trims and center console
Alsvin Lumiere Black Edition	PKR 4,574,000

 

Experience the black edition before it’s gone! Book your test drive of the Alsvin Black Edition at your nearest Changan 3S dealership today.

Don’t miss out – call 021-111-116-265 now for more information and be among the first to elevate your driving experience!

• With the all new ‘Flexi’ car type, customers and Captains can negotiate and choose their own preferred price.
• The Flexi Ride will offer four categories; Flexi GO, Flexi GO Mini, Flexi Bikes and Flexi Riksha.

Pakistan (Muhammad Yasir)  Careem, the pioneer of ride-hailing in Pakistan, has launched its ‘Flexi’ car type in Karachi, enabling customers and Captains to take rides on their own preferred fare. The introduction of Flexi makes its way to the metropolitan city of Karachi after its successful launch in Islamabad/Rawalpindi, Lahore, Faisalabad and Multan where it garnered an overwhelmingly positive response from both customers and Captains.

At the time of booking a Flexi Ride, customers will be shown a suggested fare, which they can increase or reduce. Once selected, the bid will be sent to multiple Captains in the area, enabling them to accept the ride or send a counter-bid. Once the price matches, customers will be assigned the Captain, beginning their journey. 

The Flexi Ride will offer four categories; Flexi GO, Flexi GO Mini, Flexi Bikes and Flexi Riksha. While the Flexi Ride will be available in categories of GO and GO Mini, the GO Premium category will remain unchanged, offering the pre-existing marketplace model which is based on a variable fare.

Flexi Ride is a new ride-hailing option redefining freedom of choice for both customers and Captains by enabling them to choose their own preferred price.

Commenting on the bringing Flexi Ride to Karachi, Imran Saleem, General Manager Ride Hailing at Careem Pakistan, stated, “We are really excited to bring Flexi Ride to our customers in Karachi, as it has garnered a great response in other cities of Pakistan. The idea behind the service is to give customers the flexibility to choose their own fares, all while offering unparalleled experience and the utmost level of safety.

He further added: “The Flexi Ride has also proven to result in a positive impact on the overall earnings of Captains and offer them flexibility in their work. We are certain that this service will undoubtedly make the experience more convenient and enjoyable for both customers and Captains.”

The Flexi Ride is aimed at redefining freedom of choice for both customers and Captains by enabling them to choose their own preferred price. Empowered with an enhanced layer of safety, Careem aims to provide the most reliable experience to both its customers and Captains.

 

Pakistan (Muhammad Yasir)

Fly Jinnah, Pakistan’s leading low-cost airline, has proudly partnered with T3 Aviation Academy to induct its first batch of future Pakistani pilots. This milestone marks the beginning of an ambitious journey to cultivate and develop local aviation talent in Pakistan.

The initial training phase for these CPL holders commenced on June 20, 2024, at the T3 Academy facility in Sharjah, United Arab Emirates. After completing this foundational training, the group will advance to aircraft base training and line training with Fly Jinnah. This comprehensive program will equip them with the skills and knowledge necessary to meet the highest international standards.

This collaboration was made possible with the invaluable support of the Pakistan Civil Aviation Authority and reflects the commitment to fostering local talent. The initiative aims to develop a new generation of pilots who will contribute significantly to the growth and success of Pakistan’s aviation industry.

Fly Jinnah spokesperson commented: “This collaboration with T3 Aviation Academy highlights our commitment to investing in Pakistan’s aviation future and providing world-class training to our aspiring pilots. We extend our gratitude to the Pakistan Civil Aviation Authority for their support in enabling this initiative. We are confident that this program will produce highly skilled pilots who will uphold the highest standards of safety and professionalism.”

T3 Aviation Academy, renowned for its comprehensive pilot training programs, brings a wealth of expertise and a proven track record in developing top-tier aviation professionals. By joining forces with Fly Jinnah, they are set to deliver an unparalleled training experience that combines theoretical knowledge with practical, hands-on learning.

Karachi (Muhammad Yasir)

Nutshell Group, a premier communications and public advocacy firm, is excited to unveil its strategic expansion into the Middle East market. This significant development underscores Nutshell’s commitment to broadening its regional presence and strengthening economic and cultural ties within the region.  

With over two decades of industry experience, Nutshell Group has been a pioneer in fostering impactful dialogue and collaboration across various sectors. Expanding into the Middle East marks a pivotal step in the firm’s journey toward establishing itself as a global leader in communications and strategic engagement.  

The Middle East, with its vibrant economic landscape and strategic significance, offers a wealth of opportunities for Nutshell Group to extend its expertise in corporate communications, and strategic advisory services. This expansion will enable the firm to support businesses and governments in the region by facilitating meaningful dialogue, embracing innovation, and forging strategic partnerships.  

In a joint statement, Muhammad Azfar Ahsan, Chairman of Nutshell Group; Usman Yousuf, Director; and Rabia Ahmad, Director and CEO of Nutshell Group, expressed their enthusiasm about the expansion, saying: “Our entry into the Middle East market reflects our vision of connecting visionary minds and driving transformative change. We are eager to bring our distinctive approach to communications in this vibrant region and look forward to building enduring relationships with our partners.”  

 As part of this strategic growth, Unaizah Saeed Ali, has been appointed Chief Operating Officer for the Middle East, while Mehrunisa Azhar, has been promoted to Chief Operating Officer for Pakistan.  

As part of its commitment to excellence, Nutshell Group will work closely with the local partners to deliver innovative solutions that drive growth, foster collaboration, and contribute to the region’s economic and social development.

 

Karachi (Muhammad Yasir)

Terrabiz, one of the leading corporate training companies,
organized an “emotional intelligence and decision-making” session on
Tuesday at a local hotel. John Bentley, a renowned corporate trainer,
was the main speaker. A number of professionals from different fields
of the corporate world attended the session.

John Bentley, the lead speaker, underscored the pivotal role of
emotional intelligence in corporate decision-making because a
staggering 70% of strategic failures can be attributed to poor
decision-making by business leaders with low emotional intelligence.

He mentioned that emotions influence 80% of decision-making, as per a
survey carried out by Deloitte, hence, it is crucial to harness the
power of emotional intelligence by effectively blending thinking with
feelings to make optimal decisions.

Business leaders and professionals of various trades should
effectively learn adaptability and embrace optimism to cultivate the
growth mindset in their professionals and provide lives, improving
their emotional intelligence to the optimal level. Individuals should
recognize triggers, overcome their stress, and apply consequential
thinking to be smarter people with EI.

Hamza Wasi Hasim, Founder and CEO Terrabiz, stressed the importance of
investing in human capital to significantly enhance the productivity
of human capital through capacity-building programs led by globally
recognized trainers and speakers. He urged both corporate and private
sectors to invest in their workforce to ensure high performance in
strategic decision-making.

Pakistan (Muhammad Yasir) 

Google Cloud, in collaboration with Tech Valley, successfully concluded its inaugural Startup Competition Pakistan 2024 that saw 700 submissions from over 70+ cities.

“As incubators of innovation, startups possess immense potential to reshape traditional industries for a digital-first future, creating new economic opportunities for Pakistan. Supporting the growth of startups has long been a strategic imperative for Google Cloud. By equipping promising startups with the tools needed to grow and scale, we are making a valuable investment in Pakistan’s long term prosperity, empowering the country for success in the digital economy”, said Farhan Qureshi, Regional Director, Google.

The Competition served as a launchpad for innovation, attracting a surge of creative solutions across five key tracks: AI and GenAI, Fintech, Sustainability and Environment, E-commerce and Connectivity, and Frontier Digital Technologies. Startups refined their pitches and identified areas of improvements through mentoring sessions in major cities of Pakistan.

“This competition has been a testament to the immense potential within Pakistan’s startup ecosystem. We are thrilled to have partnered with Google Cloud and Bank of Punjab to provide this platform for our nation’s brightest minds.” said Umar Farooq, CEO of Tech Valley.

The judging panel consisted of leading local and regional VCs including Indus Valley Capital, i2i Ventures, Sarmayacar, nVentures and SEED Ventures. Each winner from the five competition tracks received a cash prize of 1 million PKR and will be offered mentorship from senior Google experts to further refine their ideas. The competition also facilitated connections with leading VCs, opening doors to potential funding and mentorship. Additionally, all 25 Finalists were offered mentorship opportunities with industry experts including from Bank of Punjab and Orbit Startups. 

The competition, strategically supported by Bank of Punjab (BOP), solidified their commitment to fostering Pakistan’s dynamic tech scene.

“BOP takes immense pride in empowering entrepreneurs and founders by offering unparalleled opportunities like this one and its support for various such endeavours in the past 3 years is a testament to this. Hosting Pakistan’s inaugural Google Cloud Startup Competition underscores our dedication to strengthening the startup ecosystem in this region. I congratulate the winners for showcasing their exceptional talent, and we remain committed to providing impactful platforms and services that support startups both locally and globally”, said Mr. Zafar Masud, President & CEO of Bank of Punjab.

The success of the Google Cloud Startup Competition Pakistan 2024 was fueled by the support of technology companies including Platinum Sponsors Alethea AI and Tridorian, Gold Sponsor Vanar, and Silver Sponsors Aspire, Bookme.pk, and OPEN Silicon Valley. Additionally, OPEN Silicon Valley, a Silver Sponsor, extended an invitation to all finalists for a visit to Silicon Valley, granting them the opportunity to immerse themselves in the world’s leading tech hub.

Leading up to the Finals, a series of Master Your Pitch events was also organised across April and May 2024 in Islamabad, Lahore and Karachi,  together with the support of key ecosystem players including Telenor Velocity, Katalyst Labs and COLABS. Promising startups got the chance to pitch their businesses to a panel of experts in front of a live audience and receive valuable feedback.

The Google Cloud Startup Competition follows the expansion of the Google for Startups Cloud Program to Pakistan whereby 10 incubators, including Ignite’s National Incubation Centres (NICs), are now Ecosystem Partners. Under this arrangement, their current and alumni bootstrapped startups can benefit from up to US$25,000 in credits, compared to US$2,000 previously.

An upcoming Google for Startups AI Academy for Asia Pacific was also announced, whereby Pakistani startups in the AI space will be eligible to be selected as part of the inaugural cohort that will cover responsible AI and provide access to Google’s ecosystem of experts and technologies. The chosen team will be a part of an APAC startup cohort with a 3 month program. The majority of the program will be online, with an on-site three-day bootcamp in Singapore, which plays host to a startup ecosystem hub with over 4,500 startups, 500 VCs and 220 accelerators and incubators.

We are proud to announce the winners and extend our heartiest congratulations to the following tracks:

• Sustainability & Environment: Asani
• Fintech: Torque360
• E-commerce & Connectivity: Indolj
• Frontier Digital Technologies: SocialBu
• AI & Gen AI: Adlytic.AI
• People’s Choice Award: Internee.pk

The destination has secured two of the top 100 spots on the list, showcasing its high-quality, culturally rich, and sustainable tourism offerings.

ALULA, SAUDI ARABIA (NUT DESK)— TIME, the global media organisation based in the USA, officially announced today the winners of its 2024 ‘World’s Greatest Places’ awards, highlighting two of AlUla’s destination offerings as remarkable places to be explored! Vetted by TIME’s editors and correspondents around the world, this exclusive list features 100 extraordinary destinations to explore, stay and visit.

AlUla’s awarded places include:

• Dar Tantora The House Hotel – Just opened in May 2024, Dar Tantora The House Hotel is the first property to be established in the historic AlUla Old Town – the ancient mud-brick houses city dating back to more than 800 years old, which was recognised as one of the Best Tourism Villages in 2022 by UNWTO. Nestled within AlUla’s desert oasis, Dar Tantora stands as an emblem of sustainable luxury. With 30 guest rooms thoughtfully restored from historical mud-brick buildings, this eco-lodge offers guests an immersive blend of traditional Bedouin living and upscale comfort.
• Sharaan Nature Reserve – Covering almost 600 square miles (1500 Square Kilometers), the beautiful Sharaan Nature Reserve is a treasure trove of natural wonders. Central to it is the restoration of AlUla’s sensitive ecosystem, which in turn allows the reintroduction, preservation and protection of endangered animals such as Arabian wolves, gazelles and large-eared red foxes, along with indigenous flora and fauna. Created with the goal for restoring the natural land and wildlife, Sharaan will serve as a safe rewilding hub for critically endangered Arabian Leopards, currently located at an offsite breeding facility.

To compile the ‘World’s Greatest Places’ list, TIME solicited nominations of places –including hotels, cruises, restaurants, attractions, museums, parks, and more– from its international network of correspondents and contributors, with an eye toward those offering new and exciting experiences. The TIME brand is recognised and respected around the world, and this prestigious accolade remains the ultimate symbol and acknowledgment of excellence within the travel sector. The full list of winners can be found here.

“We are elated by the recognitions awarded to our destination’s offerings by TIME in their renowned World’s Greatest Places,” says Rami AlMoallim, Vice President of Destination Management and Marketing at the Royal Commission for AlUla, “the exceptional sentiments reflect the excellence and dedication of AlUla’s efforts to preserve and promote its unique cultural heritage through comprehensive and sustainable development initiatives rooted in the community.”

Located in the northwest of Saudi Arabia, AlUla is an oasis city renowned for its diverse natural landscape including mountains, desert and unique geological rock formations, along with significant heritage sites. A beacon for sustainable tourism, AlUla’s commitment to purpose-driven revitalisation, is showcased in their newly launched global brand campaign, “Forever Revitalising,” has transformed the destination into a vibrant hub not only for ancient heritage, culture, art and adventure, but also for responsible tourism.

 

Lahroe (Muhammad Yasir)

easypaisa, Pakistan’s leading digital financial services platform, has announced a strategic partnership with Faysal Bank Limited (FBL), one of the premier commercial banks in Pakistan, to simplify the process of receiving international remittances.

This collaboration enables customers around the world to send remittances directly into their easypaisa wallets using Faysal Bank’s extensive remittance network, enhancing convenience and accessibility for millions of Pakistanis.

The signing ceremony which took place at easypaisa’s regional office in Islamabad was attended by distinguished executives and leadership teams from both organizations, including Farhan Hassan, Head of easypaisa Wallet Business, and Shahmeer Nadeem, Head of Product Management, from TMB/easypaisa. From Faysal Bank, Yaquta Marvi- Unit Head of Business Development and Marketing, Ziad Aftab Ejaz, Global Head Remittances, along with members of Corporate Banking attended the ceremony.  

Commenting on the occasion, Farhan Hassan, Head of easypaisa Wallet Business, TMB/easypaisa, said, “In Pakistan, remittances are a crucial lifeline that supports families and fuels dreams.  In a country, where remittances play an integral role in financing economic spending and expenditure, our partnership with Faysal Bank is a leap towards digital and financial inclusion offering seamless remittance collection services. As Pakistan’s digital finance leader, we are not just moving money; we’re propelling Pakistan towards a future of financial empowerment and limitless possibilities.”

Ziad Aftab Ejaz- Global Head Remittances- CIBG, Faysal Bank Limited, shared his insights on the collaboration, stating, “Faysal Bank plays a pivotal role in the development of Pakistan’s financial ecosystem. By partnering with easypaisa, we aim to empower millions of easypaisa users to effortlessly receive funds from their loved ones abroad. This initiative will not only benefit mobile wallet users but also promote the regulated flow of remittances, significantly contributing to Pakistan’s economic growth.”

The integration of Faysal Bank’s remittance services with easypaisa’s user-friendly mobile app ensures that customers can easily track, receive, and manage their remittances. easypaisa’s extensive agent network, combined with Faysal Bank’s comprehensive reach, guarantees that customers can access their funds with ease, thus fostering financial inclusion and economic stability.

With over 40 million registered mobile accounts and counting, easypaisa continues to lead Pakistan’s digital financial services landscape, through the power of technology and collaboration.

Strong business performance and positive outlook underpinned by robust customer activity and stable macroeconomic environment see Mashreq’s Net Profit in the first half increase by 14% to AED 4bn.

Dubai, UAE (Nut Desk)  Mashreq is pleased to announce its financial performance for the first half of 2024, highlighting the bank’s strong commitment to achieve its strategic goals focused on putting clients first, achieving operational and financial efficiency, maintaining robust risk management, ensuring operational resilience, while fostering a culture that prioritizes its employees. These results emphasize the successful implementation of Mashreq’s strategic initiatives capitalizing on providing a world class client experience which is second to none.

“The UAE’s economy continues to demonstrate remarkable resilience and stability, buoyed by robust policies and a conducive investment environment. As we witness a significant downtrend in inflation, the strength of our nation’s economy is further solidified, reflecting strong capital adequacy ratios and increasing foreign investments. This macroeconomic stability has provided a favorable backdrop for Mashreq’s continued growth.”

Strong business performance and positive outlook underpinned by robust customer activity and stable macroeconomic environment see Mashreq’s Net Profit in the first half increase by 14% to AED 4bn.

We are proud of our achievements and remain committed to our strategic vision of innovation, customer-centric solutions. Our ambition remains unchanged – to be the preferred financial partner for customer success journeys.”

Ahmed Abdelaal, Group Chief Executive Officer said: “In the first half of the year, we continued to deliver on our strategic ambitions, improving profitability and reporting a strong return on equity, driven by strong commercial momentum, robust customer activity, excellent credit quality, and focused cost management. Our results demonstrate that, despite the challenging global environment, we are making excellent progress on our strategic priorities and achieving industry-leading financial performance. This progress was primarily driven by sustained, strong net interest income, while our high customer activity across the business led to a significant uplift in non-interest income, resulting in a second-quarter return on equity of 27.6%.

We continue to invest in our capabilities to accelerate digital transformation across our business and functions, enhancing customer journeys, improving the customer experience, and reducing costs and operational risks. Additionally, we have completed our Tier 1 capital enhancement to solidify our capital base and support growth.

Our commitment to sustainability is a core focus, driving us to integrate our wide-ranging ESG initiatives and milestones through global initiatives under Climb2Change. This program is expanding across the markets we operate in, highlighting our dedication to accelerating environmental and social impacts and our sustainable finance commitments.”

Overall, we are confident that the implementation of our strategy during the first six months has built a robust foundation for continued execution.”

Over 1,600 entrepreneurs from across Pakistan have benefited from the ‘Proudly Pakistani’ initiative so far.

Pakistan (Muhammad Yasir)  In line with its mission to uplift communities through the power of commerce, Daraz has successfully trained a second cohort of 1,000 female entrepreneurs from the Punjab region. These training sessions, part of Daraz’s “Proudly Pakistani” initiative, were conducted across eight cities in collaboration with the Social Welfare Department of the Government of Punjab. This strategic partnership highlights Daraz’s commitment to supporting local communities and promoting homegrown products on a national scale.

Launched in August last year, the “Proudly Pakistani” initiative aims to promote locally-made products and empower Pakistani entrepreneurs and artisans. Over 600 small business owners from across the country benefited from this initiative in its first year. The entrepreneurs receiving these trainings learn essential digital marketing and e-commerce skills and are given the opportunity to showcase and sell their products on the Daraz platform, thus gaining access to a broader customer base.

By enhancing their skills, these individuals will be better equipped to secure sustainable livelihoods and contribute to the local economy. Moreover, Daraz and the Social Welfare Department will jointly monitor and assess the socioeconomic impact of this initiative, with a focus on income generation and community development in the Punjab region.

Commenting on the partnership, Ehsan Saya, Managing Director of Daraz Pakistan, said, “Helping local businesses thrive in e-commerce has always been our ultimate end-goal. We are excited to deepen our collaboration with the Social Welfare Department, Government of Punjab, to create even more significant and meaningful impact this year through our ‘Proudly Pakistani’ initiative. We are optimistic about the future success these female business owners will achieve on our platform and their potential to increase their incomes and improve their livelihoods.”

“We appreciate the collaboration with Daraz to make this program/intervention a success and their dedication to empowering the women of Punjab under the ‘Proudly Pakistani’ umbrella. We witnessed a positive impact of our previous collaboration with Daraz last year and feel such partnerships are crucial for nurturing entrepreneurship, enhancing community well-being, and driving economic progress in the region. We look forward to seeing the continued transformative impact this collaboration will have on our female entrepreneurs and their communities.” stated Mr Iqbal Hussain, Secretary Social Welfare and Bait UL Maal Punjab.

Mr. Mudassir Riaz Malik Ex-DG Social Welfare and Bait UL Maal, Punjab, who initiated this partnership also appreciated the efforts of Daraz for empowering women through their platform. “This is a landmark initiative and will help those women who have skills, intent and products but no access to markets, provide rare opportunity to access markets online in comfortable way. This is a big step towards women empowerment. I hope that its scope of the program will be broadened further in to benefit more deprived women.”