After putting up with hours of power suspension in scorching summer heat, Karachi citizens are now at ease as the K-Electric (KE) declared that electricity supply from a tripped unit at the Bin Qasim power plant has been restored, on Friday. “We are grateful to our valued customers for their cooperation and deeply regret the inconvenience caused,” the power supplier said.
FRANKFURT: On Thursday, the German industrial conglomerate Siemens has said that it would slash 1,700 jobs in Germany in the coming years. The decision comes as a result of a restructuring and efficiency drive. However, the Munich-based Siemens said that it would help employees concerned to apply for other positions in the group, which plans to hire around 9,000 people in Germany over the same period.
Pakistan is home to some of the world’s most refined artists, artisans, and craftsmen. Artsy, founded by Mateen Ansari in January 2016, is a website with a mobile application where artisans can upload their products for sale to interested buyers. The platform allows artists and craftsmen to reach a whole new category of customers unavailable to them before.
Yayvo.com has announced yet another shopping day on May 19, just before Ramzan starts, with up to 75% off. According to Yayvo, the eCommerce market in Pakistan lacks a local shopping festival along with other dedicated global shopping days such as Black Friday. Yayvo with its amazing announcement of the shopping festival says #IsMay #RahaNaJae. This shopping day will be celebrated annually on a grand scale.
If you’ve been eagerly waiting for the iPhone 8, well, we’ve got some bad news. Nothing’s 100% sure but the rumor mill just churned out something worrisome. Analysts from Deutsche bank believe the iPhone 8 won’t be released this year. Usually, Apple releases a minor ‘S’ upgrade such as iPhone 6S after a launch like the iPhone 6. Earlier rumors suggested that the iPhone 8 will be released this year.
Facebook has just released the earnings for the first quarter of 2017 as it inches towards 2 billion users worldwide. The social media giant has just crossed 1.94 billion users worldwide, which marks an 18% increase from last year. It is reported the social media site has 1.28 billion users who access the site daily, which is 66% of its monthly users. Other recent inclusions include a rocket icon.
Pakistan Tehreek-e-Insaf (PTI) Imran Khan stated that people like Ayyan Ali are taking wealth of country abroad which is damaging the economy of country. While addressing the traders in Karachi, Khan said that no country can become prosper unless its traders are settled. “More the taxes are increased, more tax evasion, theft and robbery will increase in the country,” he said. Khan is on visit of Karachi.
The Water and Power Development Authority (Wapda) has asked PM Nawaz Sharif to trim down the markup on foreign loans being passed by the federal government for Neelum-Jhelum hydroelectric power project at much increased rate than the one charged by the creditors. A senior official of Wapda said that rise in loan would in the end, burden the consumers with elevated electricity taxes.
The Pakistani government has increased the Customs valuation rate on imported cars with the engine displacement of 1,800CC. According to Pro Pakistani, the import duty would be raised by Rs. 200,000 to Rs. 1.5 million depending on the model of the vehicle. The said decision has been made all of a sudden without taking the stakeholders into confidence. The number imported cars in Pakistan are increasing.
Sajjan Jandal is a close buddy of PM Modi and sources disclosed that Pakistan had no plans to seek such a meeting but considered because of the request made by New Delhi. Jandal is the Chairman & Managing Director of JSW Group of Companies, which is India’s second largest steel producing private company. Also, he is the immediate ex-president of Associated Chamber of Commerce and Industry of India.
Samsung has released its financial standings for the first quarter of 2017 and as reported in earlier reports the brand has been enjoying a rise in profits for most divisions. The overall operating profits have amounted to $8.8 billion which have increased by 48% from last year. This is Samsung’s second most profitable quarter ever and the best results for a year’s first quarter as net profits go up by 46%.
Thanks in partial to the release of Huawei flagships P10 and P10 Plus and a host of other phone released by the company, Huawei has claimed the number spot in China once again. According to reports, Huawei shipped 21 million smartphones in China claiming 18% of the market share. Oppo had been dominating the market since the last two quarters and is still not far behind with 20 million smartphone shipments.
Khyber Pakhtunkhuwa (KP) has signed 82 Memorandums of Understanding (MoUs) with Chines companies worth of Rs. 2.4 trillion during recently held K-P Economic Cooperation Road Show (KECRS) arranged by the the provincial government. The delegation of KP was led by Chief Minister Pervaiz Khattak who visited China to attend the show from April 16 to 18. While talking to media Khattak called it revolution for KP
After the launch of Huawei P10 and P10 Plus, Huawei just launched the P10 Lite without much fanfare. Tha Huawei P10 Lite is available in Black & Gold colors while a Blue version has also seen at stores in Europe. The Huawei P10 Lite is available at about half the price of what the flagship P10 costs but does not differ much in terms of build quality and an octa-core processor is supported by a 4GB RAM.
According to reports, the cab-hailing company, Uber, is all set to launch in Islamabad and Rawalpindi at the end of April. Previously, the market of Islamabad and Rawalpindi was dominated by Careem, the UAE-based ride-sharing company which was the only existing player. Uber earlier this month revealed 20% discounted prices for Lahore and Karachi which was followed by Careem as it cut fares by over 20%.
Although India is way ahead of Pakistan in mango production as it shares 36% of global mango production but still it is being beaten by Pakistan in export. According to report by Centre for Environment and Agriculture, India, in 2014, India produced 18.43 million tonnes of mango and Pakistan produced just 1.76 million tonnes but Pakistan exported 1,27,000 units while India exported mere 36,000 units.
Pakistan Telecommunications Company Limited (PTCL) signed a partnership agreement with Afiniti today, the US-based applied artificial intelligence company that transforms the way humans interact. PTCL becomes the first company to “Go-Live” at scale, not only in Pakistan but also in Asia. The partnership will bring new innovations to the customer services and contact center operations of the service.
On Saturday, Ufone announced Humaira Anjum as its brand ambassador for its recent Super Minutes Package. Ufone stated that Humaira Anjum, 5o year old entrepreneur, chef and a mother of three kids will be seen in Ufone commercials on TV. Humaira is one of the many hardworking ladies of Pakistan and her story is an example set for motivating others.
The Securities and Exchange Commission of Pakistan (SECP) has approved the first private equity and venture capital fund worth $100 million under Private Funds Regulations 2015. The commission has registered Pakistan Emerging Market Fund-1, which is categorized as private equity and venture capital fund. It will also help those companies and entrepreneurs who have limited access to capital from banks.
After months of teasing us with the oncoming launch of Honda BR-V, it is finally here in Pakistan. The company previously gave a sneak peek of the Pakistan’s first locally manufactured midsize seven-seater SUV two months ago. “The decision to introduce Honda BR-V in Pakistan is primarily to cater big families and diverse roads of Pakistan,” Mr. Shinki Aoyama, CEO Honda said while addressing the audience.
TECNO Mobile has formally launched in Pakistan and is introducing 6 different smartphone models in the country namely; W3, W5, L8 Lite, C7, Phantom 6 and Phantom 6+. The TECNO smartphones will be available in the next few days with the official release in six cities of Pakistan. The company is expecting the sale of 24,000-25,000 units per quarter. By now, TECNO has spread in more than 40 countries.
A well-known manufacturing company of Germany, Siemens offered automated signaling system to Pakistan Railways. Representatives of Siemens called on the CEO Pakistan Railways and proposed the project on Friday. This system comprises of digital wireless transmission of video images of train approaching and leaving a level crossing which would help the driver to respond to critical situations timely.
Around 100,000 cars would be provided to the unemployed youth of the Punjab province. Chief Minister Punjab, Shahbaz Sharif quoted ‘the Orange Cap scheme will be launched this year’. Framework of this scheme would be developed electronically so that mismanagement and corruption issues could be prevented. Previously, through ‘Apna Rozgar’ scheme Punjab government distributed 50,000 cars.
Juergen Mossack partner of Mossack Fonseca declared on Thursday that tax shelters in Panama have decreased to 30% following the boom of their creation in the United States. “However, jurisdictions such as Delaware, Nevada & others located in the United States, where virtually no due diligence is required… incorporations are thriving!” said Mossack. Last year, there was a leak of more than 11 million docs.
Apple will be releasing three iPhones this year and it is reported that the vendors who will be manufacturing the new chipsets for these iPhones will start production in the second quarter and speed up the process in the third quarter. Rumors suggest that iPhone new chips will be over 100 million in number. Apple is eyeing a target of 220 to 230 million sales in the year of 2017 which all three new iPhones.
The labor ministry of Saudi Arabia announced on Thursday that foreigners will not be allowed to work in Saudi Arabian shopping malls. This step is taken by the authorities to level up the employment of Saudis. The ministry said on twitter that: “The Minister of Labor and Social Development issues a decision restricting the work in malls across the kingdom to only Saudi men and women.”
State Bank of Pakistan is recently working on introducing Digital Banking System in Pakistan. During a conversation with ProPakistani, Syed Irfan Ali, Executive Director, SBP claimed, “Move will help in achieving the maximum target of financial inclusion.” Once this system is launched, Banks will be operated via the internet only and enable the customers to do all sorts of financial transactions online.
Per Ekman, HMD VP visited Pakistan back in March and regarded the country as a very important market for Nokia. He said the company will be releasing three phones by end June but it seems these phone might launch earlier. Nokia will not provide any skin on top of the Android and the devices will come with a true Android experience at the prices of PKR 12,000, PKR 16,000 and PKR 26,0000 for Nokia 3,5 and 6.
ISLAMABAD: President of Alibaba Group, Michael Evans met with Prime Minister Nawaz Sharif on Wednesday. During the meeting, Evans said that improved IT and telecommunications development offered a fundamental base for spreading out e-commerce here, in Pakistan. Additionally, he claimed that he was very confident that Alibaba’s e-platform will stimulate the growth of average enterprises in Pakistan.
Michael Evans, President Alibaba Group says Pakistan is a highly potential market. Minister for Commerce, Engineer Khurram Dastgir Khan said Alibaba could become an integral part of country’s E-commerce business in Pakistan. “Ministry of Commerce is working on a Policy Framework for development of E-Commerce in the country. Government of Pakistan welcomes Alibaba Group to Pakistan,” Khurram Dastgir said.
Apple co-founder Steve Wozniak believes the tech giant has all the cash reserves it needs to be around in the year 2075 or even after. Wozniak says it is almost unimaginable to think that Apple will cease to exist anytime soon as it has a lot of cash with which it can buy anything on the face of Earth. He says other companies which will be able to sustain competition for a long term are Facebook and Google.
Khyber Pakhtunkhuwa (KP) Chief Minster Pervaiz Khattak stated that he has no reservation on Western route of (CPEC)and whole Pakistan wants to take country forward. While talking to media Khattak added that whole Pakistan want to take Pakistan forward with help of CPEC. “We also have new route from Gilgit to Chitral which was approved in 6th JCC meeting in December 2016 here,” said Khattak on Monday.
Chinese media reported on Monday that Chinese steel manufacturer Baosteel will supply steel for the ongoing nuclear power plants in Karachi and this export is said to be the “first export deal for China-designed, third-generation nuclear power technology.” According to Global Times, China is now the 4th nation in the world after US, France and S.Korea to independently export third-generation nuclear power.
There are two possible outcomes if furniture making company IKEA comes to Pakistan. First the local traders will start protest against ‘exploitative’ multi-national company threatening about thousands of job losses and government will also impose import and export taxes on the company. This will result in artificial increase in prices. Second, if government supports IKEA, it it will favour customers.
A huge number of workers of a textile mill protested against their company, Rajby Textiles on Sunday for supposedly unlawfully sacking them without paying them their dues. According to the protesters, 120 workers who had been working at the company for past four to twelve years are suddenly terminated from their permanent employment and dispossessed of their legal rights.
On Friday, The State Bank of Pakistan (SBP) signed a Banking and Payment Agreement (BPA) with Iran’s central bank, Bank Markazi Jomhouri Islami Iran (BMJII) in Tehran. According to the statement released by SBP, Deputy Governor SBP Riaz Riazuddin and Vice Governor BMJII signed the agreement on behalf of their central banks in order to promote trade between Pakistan and Iran.
On Friday, Japanese public broadcaster NHK has reported that Apple Inc is currently considering teaming up with its supplier Foxconn to bid for Toshiba Corp’s semiconductor business. Apple, however, was not immediately available to comment on the subject. A Toshiba spokesman has also said that he could not comment on specific transactions.
Federal Minister for Planning, Development & Reform, Ahsan Iqbal while answering in Senate’s questions hour on Thursday, said that with the ownership of provincial governments, all schemed nine industrial zones under China Pakistan Economic Corridor would be completed in a time period of 2-3 years. He further claimed that the governments have fastened their work on implementation of these industrial zones.
The Samsung Galaxy S8 and S8+ are available for pre-order in Pakistan until 27th April and will be delivered to customers on April 28. Samsung is said to be giving a surprise cash money voucher worth PKR 6000 with every pre-order of Galaxy S8 or S8+. The Galaxy S8 is priced at PKR 87,000 and Galaxy S8+ is priced at 97,000. The customer will have to submit a CNIC copy and PKR 10,000 to book their order.
In a latest and rather interesting venture, Government of Khyber Pakhtunkhuwa (KP) is planning to export donkeys to China. According to official sources, this new policy is being established under project titled ‘Khyber-Pakhtunkhwa-China Sustainable Donkey Development Programme’. The provincial government will export around 0.2 million donkeys annually. Special projects will be started for donkey breeders.
SAN FRANCISCO: Uber mocks while claiming that its extension into self-driving cars hinges on trade secrets stolen from a Google spinoff, contending that its ride-hailing service has been working on potentially superior technology on Friday. The documents presented in San Francisco federal court indicates Uber’s response to explosive allegations that its automatic driving cars rely on Waymo technology.
Samsung has just reported the highest profits since the year 2013. Most of the sales and profits in the first quarter of 2017 have come from memory chips and OLED screens. The South Korean company has also signed a contract with Apple to provide 70 million OLEDs to its rival. Acc. to reports the operating profits have amounted to a huge $8.8 billion which is an impressive 48% higher than last year.
Filmmaker Yasir Jaswal has opened the doors of his new restaurant called ‘Jessie’s’ at Jinnah Super Market, F-7. The restaurant boasts a rustic design, includes a balcony where one can see Islamabad’s lush greenery and sunset. Additionally, the eatery can cater to around 60 customers at a time. Jessie offers a wide range of burgers which has quickly managed to garner a cult following.
In ‘largest defence contract’ between India and Israel, weapons and technology of worth $2 billion would be provided to India by military exporting giant, Israel. Medium range surface-to-air missiles, communication tech, launchers – advance defence system covers this deal as said in a statement. This contract is “considered to be the largest defense contract in Israel’s defense industries’ history”.
United Kingdom has expressed its desire to become important part of China Pakistan Economic Corridor (CPEC). During a round table talks on CEPC, Britain UK Minister of State for International Trade Greg Hands stated that Britain is a state with Global influence and can be important partner of China-Pakistan Economic Corridor. “UK wants to increase trade with Pakistan and China to increase its business.”
SimSim is a mobile app by Finja Private Limited, that lets you be in total control of your branchless banking wallet and make real-time payments through multiple payment methods. The State Bank is looking to draft a national e-commerce policy it is indeed high time for investors to make an entrance in the e-commerce sector. SimSim has great potential but we will have to wait to see tangible results.
Three-day international Dubai Property show concluded at Dubai World Trade Center on Tuesday and large numbers of investors and businessmen showed great interest in Pakistani stall. Numerous visitors who visited Pakistani stall were interested in buying properties at Gwadar, Lahore, Karachi and Islamabad. Gwadar remained center of attraction mainly due to its great future investment possibilities.