Category: Business

CBD PUNJAB BOULEVARD AND UNDERPASS FULLY FUNCTIONAL FOR TRAFFIC IN A RECORD TIME OF 4 MONTHS, ANNOUNCES PCBDDA.

Lahore (Muhammad Yasir) Punjab Central Business District Development Authority (PCBDDA) has made CBD Punjab Boulevard and Underpass and its adjoining roads functional for traffic in a record time of four months. The project was initiated in November 2022 by PCBDDA also known as Central Business District Punjab (CBD Punjab). The CBD Punjab Boulevard and Underpass connect the Barket Market to Liberty and vice versa, with three lanes on both sides of the underpass now open to traffic. In addition, the carriage lane and service lane on Ali Zaib Road are also operational for traffic coming from Firdous Market towards Liberty and Barket Market. The barrel of Ali Zaib Road is also 90% completed and will be finished soon.

CEO of CBD Punjab, Mr. Imran Amin, said, “We are pleased to announce that the CBD Punjab Boulevard and Underpass have been made functional in just 4 months, which is ahead of our original timeline of 7 months. We wanted to provide maximum relief to the people, especially during the holy month of Ramadan. We hope to save the citizens of Lahore from traffic issues during Iftar time.”

The construction work is in its final stages, and the CBD Punjab Barrel is also near completion, which will provide hassle-free entry to Pakistan’s first business district. The project is expected to boost economic growth. The PCBDDA is committed to improving the infrastructure of Lahore and is working tirelessly to complete various projects within its timeline. They aim to provide maximum relief to the people and ensure that Lahore becomes a more accessible and convenient city to live in.

ZONERGY won the Energy Storage Emerging Enterprise Award in ESIE2023 Energy Storage International Summit and Exhibition held in China.

Pakistan (Muhammad Yasir) The three-day 11th Energy Storage International Summit and Exhibition ESIE2023 came to a successful conclusion. Guo Jun, executive director and president of ZONERGY, personally led a team to participate in this exhibition. ZONERGY showed its main products such as household energy storage, industrial and commercial energy storage, and portable power supply, and received high recognition and attention from industry colleagues, media reporters, and audiences, and the scene was very popular.

As the wind vane of China’s energy storage industry, the three-day ESIE2023 lived up to expectations and joined hands with 300+ first-line energy storage brands to shine. At the same time, the organizer also held the “2023 International Energy Storage Innovation Competition Awards Ceremony” to commend industry-leading companies. ZONERGY won the “Energy Storage Emerging Enterprise Award” for its years of steady development and innovative achievements, which once again demonstrates ZONERGY’s market reputation and brand value.

With the help of the exhibition, ZONERGY actively communicated and interacted with industry experts, colleagues, and customers, discussed new ideas for the integration of optical storage and storage, and signed a strategic cooperation agreement with Beijing HyperStrong Technology Co., Ltd. Build a brand and win the market together.

At the same time, ZONERGY also released and exhibited the star product Panda and industrial and commercial energy storage product series on the spot, which received high attention. Many industry media came to the ZONERGY booth to visit and interview and report on ZONERGY products. During the exhibition, ZONERGY also actively participated in keynote speeches to share the development of ZONERGY with the industry. Liu Yang, vice president of ZONERGY and vice president of Chengdu Research Institute, gave a keynote speech entitled “Research and Application of Sodium-ion Batteries”, introducing the material properties and industrialization of Na-ion batteries, and the R&D and application of ZONERGY Na-ion batteries.

Under the “Double Carbon” goal, ZONERGY will continue to take advantage of the global market, integrate resources, deepen the energy storage industry, and contribute to the high-quality development of energy in my country.

• e& is investing $400m in the Careem Super App, in line with e&’s strategic ambition of scaling up consumer digital offerings and accelerating its transformation to a global technology and investments group.
• Investment will support expansion of Careem’s Super App after proven success in the UAE.
• Uber retains 100% ownership of the Careem ride-hailing business which it acquired in 2020 and will be a significant shareholder of the Careem Super App business.

Abu Dhabi (Nut Desk) e& today announced the signing of a binding agreement with Uber Technologies, Inc. (“Uber”) and its subsidiary Careem to acquire a majority stake in Careem’s Super App spinout. Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers.

e& is investing $400m to become a majority shareholder in Careem’s Super App alongside Uber and all three of Careem’s co-founders. The Careem Super App offers over a dozen services including food and grocery delivery, micro-mobility, a digital wallet and suite of fintech services, and additional third-party services such as home cleaning, car rental and laundry. Careem serves customers in 10 countries across the Middle East, North Africa and South Asia.

With this new investment, Careem plans to accelerate the realisation of its ambitious vision to create the first “everything app” serving customers across the Middle East. This will include expanding its core food, grocery, and fintech services and the Careem Plus subscription programme across the region while adding even more partner services to the app. Careem expects significant synergies with e& and anticipates benefiting from e&’s large customer base and extensive experience scaling complex tech enabled businesses across a largely shared geographic footprint.

This investment is in line with e&’s strategic ambition of scaling up consumer digital offerings and accelerating its transformation to a global technology and investments group. It provides e& with access to multiple digital verticals, new innovative digital services, strong talent, and new geographies. e& will leverage the Careem Super App to boost the growth of its consumer digital services, including the expansion of e& life’s fintech vertical, e& money, which will play an important role in the super app vision by providing e& money’s powerful financial service offerings. 

In recent years e& has transformed into a global technology and investment group. The company is integrating emerging technologies into its expanding business verticals. e& has 163 million subscribers across 16 countries in the Middle East and Africa.

Hatem Dowidar, Group CEO of e&, commented, “super apps have catalysed the economic, social and cultural growth of emerging markets today. The popularity of Super Apps has come from the need to provide a unique and seamless customer experience. The mobile first population have given rise to an ecosystem that has encouraged the use and also expanded the scope for Super Apps with user expectations turned towards performing their daily activities on digital platforms.

 “The Careem Super App, is a digital native that has built a rapidly growing payments, food and grocery delivery network, and a platform for other digital businesses to scale from. The shared vision between e& and Careem is exciting, we believe that together we’ll be able to enhance our impact across different markets in the region while pushing the boundaries of customer experience.”

Dara Khosrowshahi, CEO of Uber, said, “Over the last decade, Careem helped revolutionize mobility across the greater Middle East while building an incredible brand. I am thrilled to partner with Careem, and welcome e&, as we grow the Careem super app to deliver more services to millions of people in this fast-moving part of the world. All of us at Uber are excited about the impact the Careem platform will have on this region over the next decade and beyond.”

Khalifa Al Shamsi CEO of e& life said: “We are thrilled to welcome Careem into the e& family with this exciting and ground-breaking deal. There are several growth opportunities between Careem and e& life as the “consumer digital” arm of e&. Our current strengths, primarily in fintech and multimedia, coupled with Careem’s services and regional footprint, will accelerate our joint vision towards a regional super app. With this partnership between e&, Careem and Uber we will set new standards of product innovation and customer experience throughout the region.”

Careem CEO and co-founder Mudassir Sheikha said, “The opportunity to use technology to leapfrog the lives of people in the region is enormous. Uber has been an incredible partner over the last three years as we expanded our mission to simplify the lives of people with everyday services beyond ride-hailing. We are excited to bring e& into the family. Their passion for uplifting the region and the synergies across their portfolio are extremely valuable. With two strong partners in e& and Uber, I have no doubt that we will build the preeminent technology platform of the region.”

 Since Uber’s acquisition in 2020, Careem has evolved to become a multiservice app offering users over a dozen services. In 2022 in the UAE, Quik, the grocery delivery service, grew 46X, and food orders grew by 86%. Over the course of the year Careem Pay launched as a true fintech in the UAE with a digital wallet and payments products including bill payments, international remittances, domestic peer-to-peer payments, and one-click checkout. Careem Bike doubled its network of pedal assist bikes and grew by 61%. Careem launched its popular subscription service Careem Plus, saw its first partner service (home cleaning) grow 4.9x while it also onboarded new third-party partners offering rental cars, spa and laundry services.

Completion of the transaction remains subject to regulatory approvals, customary closing conditions, and administrative procedures.

UBL Partners with AKS IQ to Implement Advanced Anti-Money Laundering Solution

Pakistan (Muhammad Yasir) UBL and ASK iQ partnered to implement an advanced trade-based anti-money laundering solution. The agreement was signed by Mr. Shazad G. Dada, President & CEO, UBL (center) and Mr. Yahya Ghaznavi, CEO, AKS iQ (third left) in the presence of senior executives from both sides.

United Bank Limited (UBL) has partnered with AKS iQ, a leading Reg Tech company, to implement an advanced trade-based anti-money laundering (TBML) solution in line with the Bank’s commitment to innovation and digitization.

This high-tech solution will enable UBL to execute import and export transactions in a highly automated environment while conducting Anti-Money Laundering (AML) checks with greater flexibility, mitigate operational and compliance issues and facilitate data-driven decision-making across key departments, improving service standards, customer experience and reducing risk levels.

The partnership agreement was signed at UBL’s Head Office in Karachi by Mr. Shazad G. Dada, President & CEO, UBL and Mr. Yahya Ghaznavi, CEO, AKS iQ. Senior executives from both companies, including Mr. Sajid Hussain, Group Executive – Operations, Mr. Irfan Farooq Memon, Group Executive – Compliance, Mr. Muhammad Faisal Anwar, CIO, from UBL, and Mr. Omer Manya, CDO and Dr. Asim Imdad, CIO from AKS iQ, were also present at the signing ceremony.

At the event, Mr. Shazad G. Dada, President & CEO UBL said “As Pakistan’s most progressive and innovative bank, UBL is committed to implementing state-of-the-art technology systems to enhance customer experience and improve operations. This key partnership will enable the Bank to enhance the management of its existing risk portfolio, mitigate operational and compliance issues and facilitate data-driven decision-making across key departments.”

Mr. Yahya Ghaznavi, CEO of AKS iQ, shared his enthusiasm for the collaboration, saying, “We are proud to partner with UBL, a bank committed to innovation and automation. Our fully automated, AI-enabled trade-based AML solution will enhance efficiency and help achieve a paperless environment, contributing to a safer and sustainable financial ecosystem in the country. This partnership underscores AKS iQ’s dedication to offering cutting-edge trade automation and compliance solutions that enable financial institutions to efficiently navigate the evolving operational complexities and regulatory landscape.”

 

Aesthetics Lab powered by Tibbi: Personalizing Aesthetic Experiences through Artificial Intelligence.

Lahore (Muhammad Yasir) Aesthetics Lab, a new medical aesthetics provider, is changing the way patients experience aesthetics through the power of AI technology. With a mission to provide transparency, personalization, and empathic patient handling, Aesthetics Lab is helping patients make wise decisions and achieve world-class aesthetic experiences.

Founded by two doctors and a serial entrepreneur, Aesthetics Lab leverages deep tech and Korean medical expertise to empower patients. With two clinics already functional in Lahore, Pakistan, the co-founders are optimistic about aesthetics potential and have set their sights on global expansion.

“One, we want to make sure people have the information they need to make the best treatment decisions. Two, we want to be the best at what we do, and this means mapping patient needs and preferences into a highly responsive and intelligent AI technology that we believe will launch us into a new era of aesthetic medicine,” says Dr Hamza Tauqeer, Co-Founder and CEO.

Aesthetics Lab’s approach is different from other aesthetics providers that recommend every treatment under the sun at exorbitant prices without properly analyzing patient history and skin needs. Co-Founder and Chief Medical Officer, Dr Sarah Alam states that understanding patient fears and problem areas is crucial to their approach: “Ours is more than just a less is more approach. That applies too, but our focus is on owning the patient rather than the treatment.”

Aesthetics Lab offers non-invasive and minimally invasive procedures involving cleansing, chemical peels, toning, laser and injectables for face, hair and body. Non-invasive treatment options are gaining popularity as they not only deliver results equal to invasive procedures but also have less side effects and reduced recovery periods.

On a fast trajectory to realize its vision, Aesthetics Lab is working with a Korean research & development lab based in Seoul, South Korea to stay ahead in the race. “Our story is attracting a lot of interest in funding circles – I believe with the way strengths are distributed within the team, we are positioned to add unique value,” says Co-Founder and COO, Raja Ahmed Shuja.

 

Pakistan (Muhammad Yasir)

TPL Insurance, the market leader in innovations underpinned by customer-centricity in the insurance segment, is proud to announce another first in the industry. The company has completed a pilot launch of a new auto insurance product, giving customers more control over their coverage options.

Unlike traditional comprehensive and deductible insurance options, which offer limited flexibility, TPL Insurance’s new product allows customers to select and pay for only the coverage options they want. This means that customers no longer have to pay for coverage they don’t need and can instead focus on the specific risks they face as car owners.

A used car customer may not want to purchase comprehensive insurance as they will have to pay depreciation on parts replacement. However, with TPL Insurance’s new product, customers can also choose to cover their vehicle against theft/ total loss/third party or additional zero depreciation cover in order to avoid paying depreciation for parts replacement. This gives customers greater flexibility and control over their insurance coverage.

The new product is available in conventional and takaful versions, ensuring customers have various options. The base rate for the new product starts at just 0.99%, with the ability to add on additional coverage options at an increased rate. This pricing philosophy ensures that customers only pay for the coverage they need rather than being forced to purchase a one-size-fits-all insurance policy.

“The launch of this new auto insurance product once again reaffirms TPL Insurance’s commitment to customer centricity and innovation,” said Mr Aminuddin, CEO of TPL Insurance. “This product is a testament that we understand our customers have unique insurance needs and financial limitations; this empowers them to customize their coverage for their specific requirements. It is a significant step towards making auto insurance easy and accessible for everyone in Pakistan.”

TPL Insurance has been the number one auto insurer in Pakistan for several years and is known for its fast claims settlement via its app, making it the fastest claim settlement insurance company in Pakistan. The company is committed to using technology to simplify and streamline the insurance process, and the new auto insurance product is another example of this commitment to action.

The pilot is being launched with a partner and a mass market launch is to follow, to make this innovative new auto insurance product available to as many customers as possible.

 

Pakistan’s first Agri Fintech platform Digitt+ achieves PKR 100 million throughput. 3000 farmers on boarded and multilingual support added.

Karachi (Muhammad Yasir) – Digitt+, Pakistan’s first Agri fintech platform, is thrilled announce the launch of multilingual support as well as the successful onboarding of 3000 farmers, achieving a throughput of PKR 100 million+ during its ongoing pilot phase. To ensure accessibility to as many farmers as possible, Digitt+ is gradually introducing multilingual support to its platform. Beginning with Punjabi and Seraiki, Digitt+ is adding support for all languages spoken in Pakistan with their unique audio dialects. The goal is to make Digitt+ the most inclusive fintech app in Pakistan, breaking down language barriers to financial inclusion. “We are incredibly proud to have onboarded 3000 farmers on our platform during our ongoing pilot phase, with a throughput of PKR 100 million+,” said Ahmed Saleemi, CEO of Digitt+. “We are committed to expanding our platform to support more and more farmers across Pakistan to feed our people, improve nutrition, and build our economy.” Digitt+’s founder, Qasim Akhtar Khan, believes that “financial inclusion is key to unlocking the true potential of the agricultural sector in Pakistan. By providing access to digital financial services, we can help farmers improve their livelihoods and contribute to economic growth.”

Lahore (Muhammad Yasir) The Etihad Group recently celebrated the groundbreaking ceremony of a mosque in its latest project Etihad Town Phase II. The ceremony was attended by the Etihad Group’s sponsors including Mr. Raheel Munir, Mr. Faisal Khokhar, Mr. Nabeel Khokhar & Mr. Sohail Munir, along with the company’s senior management, and their strategic sales partners and clients.

The mosque will be a landmark feature of Etihad Town Phase II and will provide a spiritual center for the community.

Following the ceremony, guests were invited to enjoy a traditional iftar at Faletti’s Hotel, a luxurious hotel located in Lahore.

While addressing the attendees, Mr. Faisal Khokhar congratulated Eithad Town Phase II management and said building a mosque in the heart of Etihad Town Phase II will create a sense of unity and will foster community living among the residents.

On the occasion, Etihad Group COO Mr. ShujaUllah Khan stated that as the project continues to develop, the state-of-the-art mosque will become a central part of the community. He added that Etihad Town Phase II is committed to creating a thriving, vibrant community that is built on the principles of unity, inclusivity, and respect.

Saudi Fund for Development contributes $240 million to support Pakistan’s energy transition via Mohmand Multipurpose Dam project.

The partnership focuses to ensure quality healthcare services

to underprivileged communities of Pakistan.

Pakistan (Muhammad Yasir) Savyour – Pakistan’s leading cashback and consumer rewards platform and Indus Hospital & Health Network (IHHN) have inked an MoU, in a bid to support the latter’s mission of providing free-of-cost, quality healthcare to the underserved people of Pakistan. The signing ceremony was held at Indus Hospital Karachi.

As part of its Salam Ramadan campaign, Savyour will match and donate the total cashback amount earned by its consumers during the holy month of Ramadan to IHHN. Savyour will also be encouraging its employees to get involved and support the hospital through volunteering and other activities in the near future.

Saad Gadit – Co-Founder & COO of Savyour stated, “We are honored to partner with Indus Hospital and support their mission to improve the health and wellbeing of Pakistan. As a socially responsible company and citizens, we believe it is our duty to give back to our community and support organizations that are focused on making a real difference for the underprivileged communities.”

“After 15 years of serving humanity, we are proud to have partners in all provinces of Pakistan, and are committed to ensuring high quality healthcare, absolutely free-of-cost for all across the country,” said the Dr. Abdul Bari Khan, Founding President at IHHN. “Startups such as Savyour often have a strong focus on social responsibility, they prioritize social responsibility and are very much interested in supporting community uplifting initiatives such as IHHN’s:

Since its inception in 2007, Indus Hospital & Health Network has been at the forefront in sharing the responsibility with other stakeholders in Pakistan to address the nation’s health burden. IHHN believes that a robust health sector includes both public and private providers and such partnerships enable pooling of the expertise and resources for development along with ensuring community outreach, access and sustainability of health services to the most deserving members of the society.

Launched in August 2020, Savyour has become Pakistan’s largest rewards and cashback platform with more than 650 brands on-board across the nation, Online and Instore. With the sole aim of revolutionizing the shopping experience in Pakistan, Savyour is constantly adding newer technologies and features to its ecosystem in order to improve the user experience of its consumers and stakeholders.