Including Facebook, Twitter India Reveals stronger rules for social media including Facebook, Twitter

India's richest family have unveiled their lavish plan for the world's biggest zoo with a massive 280-acre plot of land.
The Ambani clan, who own the $168 billion company Reliance, are planning to house around 100 different species in the zoo and build an animal rescue sanctuary in the city of Jamnagar, western India.
But the Ambanis, who have seen the likes of Hillary Clinton and Priyanka Chopra attend their family weddings, have sparked anger among animal rights activists after two rare black panthers were transferred from a state-run zoo to their own private establishment in a 'hush-hush' move.
The project is the brain child of Anant Ambani, 25, the son of the 12th richest man in the world and chairman of Reliance Industries Mukesh Ambani, reports The Week.
The zoo, which will be called 'Greens Zoological Rescue and Rehabilitation Kingdom', will be home to 100 different species of animals, birds and reptiles from around the world including the African lion, Komodo dragon, gorillas and giraffes, according to local media.
The exotic animals will be housed in sections called Forest of India, Marshes of West Coast and Exotic Island among others.
Despite it being in its early days, the zoo has already stirred up controversy among local animal rights groups.
In January, the Ambani family, who have a net worth of about $80 billion, were able to strike a deal and acquire a pair of two rare black panthers from the state-run Guwahati zoo, reported the Times of India. In exchange, Reliance Industries gave the zoo two pairs of zebra from Israel.
Source: The Mail
CHITRAL (Gul Hamaad Farooqi): A unique tree planting campaign has been launched in Kailash Barir Valley. Two thousand fruit plants were distributed free of cost among the people in this beautiful valley and plantation campaign was started by sapling fruit plants, but this time instead of any important person, women and children of the area planted these sapling so that they could be adopted with these plants and to create ownership among them.
The campaign was kicked in collaboration with the Forest Department, organized by the Food and Agriculture Organization's Chalgoza Project, 2,000 fruit trees were distributed free of cost to the people of Barir Valley to generate livelihood and reduce the burden on the forests.
In this regard, a function was also held at the Community Based School Birir in which Muslims as well as a large number of women and children belonging to the Kailash tribe also participated. Ejaz Ahmed, Provincial Coordinator, FAO Chalgoza Project, explained the technical method of planting and caring for the plants, how far they should be planted and what should be mixed in the soil at the time of planting so that the plants do not get damaged and grow quickly.
Expressing his views, Umair Nawaz, SDFO, Forest Department, said that the people here mostly use forest wood, so if they get fruit from these plants they can earn livelihood for themselves and their families. on the other hand, they can cut their branches and burn them, thus reducing the burden on the forest.
Ejaz Ahmed said that he arranges stove for them which consumes alternative energy instead of wood and it stays warm for a long time. Besides, we will compete with the people of the area for planting orchards. Those will be rewarded whose orchard is best in all aspects so that other people will be attracted to it.
Unat Baig Kailash, President, Chalgoza Forest Protection and Conservation Committee, of Birir valley , thanked the officials of Forest Department and Chalgoza Project for distributing fruit trees free of cost to the people of the area as the people here are very poor. And they can plant these sapling and sell the fruit in the bazaar, which will keep their hearth burning. Shamsul Rabi, the organisation's general secretary, said the project would also change the fortunes of the people in the area, who would plant fruit trees and eat the fruit themselves, and sell it to cover their household expenses.
Some Kailash women also demanded that they mostly burn forest wood for cooking and heating purposes the federal and provincial governments should provide them with alternative sources of gas or cheap electricity so that they can use gas alternate source of energy and prevent deforestation.
At last 2,000 fruit plants were distributed free of cost among the people of the area, which they happily planted in their fields A large number of people attended the plantation event despite the cold weather.
The new code, which the Australian parliament approved Thursday, "will ensure that news media businesses are fairly remunerated for the content they generate," Australian Treasurer Josh Frydenberg said in a statement.
Hashoo Group has collaborated with Linked International Pvt Ltd. to boost travel and tourism in the green and serene valley of Hunza.
Soon to open in the scenic valley of Nasirabad, Hunza, PC LEGACY Hunza will be the second hotel by Hashoo Group in their recently introduced brand of hotels by the name of PC LEGACY, following PC LEGACY Naran.
The brand “PC LEGACY” is a new chain of four-star hotels by Hashoo Group, who already own and operate Pearl-Continental, Marriott, and Hotel One across Pakistan. PC LEGACY will bridge the gap for travellers between the five-star and the select service hotels.
This agreement was signed on Thursday, 25th Feb 2021 at Islamabad Marriott Hotel by Mr. Haseeb A. Gardezi Chief Operating Officer Hospitality Division Hashoo Group and Mr. Mehboob Bhulani of Linked International Pvt Ltd.
Opening of this four-star hotel will not only boost economic activity in the area but will also provide prospects for domestic employment. Hashoo Group has always focused on developing and building skillset of the local community while also ensuring that they provide equal employment opportunities to both genders.
Dubai Islamic Bank (DIBL), the World’s First Islamic bank, on Wednesday joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan (SBP) in a ceremony with Governor SBP, Dr. Reza Baqir, as the Chief Guest.
KARACHI: 24th February, 2021: Dubai Islamic Bank, the World’s First Islamic bank, on Wednesday joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan (SBP) in a ceremony with Governor SBP, Dr. Reza Baqir, as the Chief Guest.
Roshan Digital Account has shown impressive results in the short period of five months since it was launched to digitally connect Overseas Pakistanis with Pakistan’s banking and payments system. Over $554 million in remittances has already been generated and over 92,500 accounts opened, and the momentum has been rising in the last few months.
Addressing the ceremony through video, Governor SBP Dr. Reza Baqir congratulated the management of DIB for becoming the 10th bank to partner with the SBP in offering RDA for the Pakistani diaspora. He lauded the many contributions of Non-Resident Pakistanis (NRP) for the country and added that the RDA is a manifestation of the vision of Prime Minister Imran Khan to make the Pakistani diaspora an integral part of Pakistan’s economy by connecting them to the country’s financial system.
He highlighted three key recent refinements to RDA that have been made in light of feedback received from NRPs. These include: (1) introducing Naya Pakistan Certificates (NPCs) in Euro and British Pound, in addition to the existing Pakistani rupee and US-dollar denominated certificates; (2) changes by federal government in relevant laws allowing the tax paid at source on profits on investments in NPCs, shares, mutual funds, and property to be full and final; and (3) substantially reducing the cost of transferring funds internationally to and from RDA accounts from $40-60 to $5-9 for most transactions.
Towards the end of his address, Dr. Baqir expressed his hope that DIB would help RDA achieve even bigger milestones in the future and that its contribution would be even larger than the banks that joined the initiative earlier.
In his address, Deputy Governor SBP Dr. Murtaza Syed appreciated the efforts put in by DIB for successfully joining RDA. Dr. Syed threw light on the salient features of RDA, explaining that it provides digital access to all conventional banking services including funds transfer, bills and fee payments, and e-commerce as well as attractive investment opportunities in the stock market, property and government bonds.
\He said that RDA enables investment by Non-resident Pakistanis in NPCs issued by the Government of Pakistan at very attractive risk free rates and in both conventional and Shariah-compliant forms. Moreover, funds available in the account can be remitted back from Pakistan without any approval from banks or SBP.
Elaborating on the RDA journey, the Deputy Governor emphasized that a key ingredient of success has been to ensure that customer’s experience is par excellence. He expressed the hope that DIB would ensure a class-experience for its customers from the very beginning, and inject even greater momentum into the RDA initiative by capitalizing on its key advantages in the UAE market and within the Islamic Banking industry.
Speaking on the occasion Junaid Ahmed CEO, Dubai Islamic Bank stated that Dubai Islamic Bank – World’s First Islamic Bank and a global franchise is operating in Pakistan since 2006 with presence across seven countries will soon become a major player for RDA.
“Our existing customer base of over 200,000 in UAE gives us an all important advantage to capture the potential for Roshan Digital Accounts. Moreover, our Non Resident Pakistanis working in Dubai Islamic Bank UAE will also benefit from this product. Our focus is on a seamless experience and prompt response time for the customers”, he added.
Dubai Islamic Bank has also engaged the services of legendary Cricketer Mohsin Hasan Khan as its brand ambassador for RDA. Mohsin Hasan Khan has the distinction of being the first among only two Asians to score a double century at Cricket’s headquarters at Lords and is our national asset.
Offering a wide range of product features along with investment opportunities for NRPs through Islamic Naya Pakistan Investment Certificates and access to capital markets through CDC, Roshan Digital Account is one of the key Digital Banking initiatives being rolled out by Dubai Islamic Bank this year.
The leading smartphone brand, TECNO never ceases to amaze its fans with its new devices. The brand finally unveiled its first phone of 2021 - Camon 16 Pro. This is the latest addition to TECNO's flagship Camon series, famous for its exceptional photography expertise. Camon 15 and Camon 16 from the same series were a great success in 2020 and have set some high sales records. TECNO’s ability to stay one step ahead in producing the best-advanced smartphones has crushed the competition, indubitably. The launch was massive and particularly well executed under the dire circumstances of the pandemic.
The Camon 16 Pro has a 64MP AI Quad Camera with 5 LED flash and a super hybrid image stabilizer that produces professional-grade photographs. It serves as a commendable treat for photography enthusiasts. The front camera is of whopping 16MP + AI lens selfie shooter with F2.0 aperture and Dual LED flash. These features augment the photography experience comprehensively. Also, the TAIVOS technology determines it to be the king of smart photography.
Moreover, the processor is high-end and of top-notch quality. The 2.0GHz MediaTek Helio G70 Gaming Processor increases the gaming performance of the smartphone. The 5000mAh Li-polymer Battery and 18 Watt flash charge improve the game time and make it a perfect travel companion. The 240 FPS Super Slow-Motion video enhances the cinematic experience on a portable screen. It is a great feature that has transformed the viewing experience.
Camon 16 Pro has a built-in storage of 128GB/6GB RAM. The high storage capacity and fast speed sum it up as an astonishing smartphone. The phone was an instant hit after it was introduced in the market. It has matched its successful predecessor that was Camon 16. The pro version of Camon 16 is the icing on the cake for a long line of users.
Camon 16 Pro also has the latest android system (HiOS 7.0) based on Android 10. These features assist the performance capability of the phone and rejuvenate the user experience. Aesthetically, Camon 16 Pro is beautifully designed with the available colors in ice crystal blue and onyx black. The price is set at a staggering PKR 29,999. The availability of these deluxe features at this price is nothing but short of a miracle.
Undoubtedly, it is another feather in the hat of TECNO. It is a continuity of a legacy that the Camon series had set. The legacy was that it is an undisputed photography king. It is also an expert in taking astonishing pictures in low light. Camon 16 Pro has set new standards with its grand opening in the market. The response was optimistic and TECNO aims to surmount new heights in the near future.
Karachi, February 25, 2021: Al-Karam Textile Mills, in collaboration with Fair Trade USA, have partnered with Dr. Essa Laboratory & Diagnostic to provide free-of-cost and best quality pathological services to the employees of Al-Karam Textile Mills. At the inauguration of this project, a unit of the lab providing basic services was instated within the premises of their mill in Karachi, along with the presence of professional medical staff.
Present at the launch ceremony were Dr. Farah Essa (Director Radiology & Corporate Relations - Essa Lab) and Raheel Saify (Director Sales & Marketing – Al-Karam Textile Mills), along with other dignitaries and worker committee members from Fair Trade USA.
This initiative has been taken by Al-Karam Textile Mills factory workers as they are empowered by Fair Trade USA to use Fair Trade funds at their disposal for the welfare of all factory employees. Being a responsible employer, Al-Karam Textile Mills ensures best possible care of its employees in every way, and this partnership is a testament to its commitment towards the achievement of United Nations Sustainable Development Goal # 03 - to ensure healthy lives and promote well-being for all of all ages.
In light of the COVID-19 pandemic, such initiatives by large businesses are the need of the hour to make sure that the health of employees is not compromised. While we have witnessed our textile sector grow by leap and bounds last year, especially in exports, ethical working conditions are imperative to highlight a positive side of Pakistan and build a sustainable working model. Textile giants like Al-Karam stepping up in this aspect, it sets a strong precedent for other businesses to follow lead.
Al-Karam Textile Mills is the first Fair Trade USA certified company of Pakistan; The Fair Trade seal on Al-Karam Textile Mills products indicates that the business has passed rigorous standards, and specifically focuses on health and safety, positive working conditions and fair wages that are in line with several sustainable development goals.
Lahore, February 24, 2021: Carrefour, owned and operated by Majid Al Futtaim in Pakistan, has launched an extraordinary five-month promotional campaign bringing weekly saving deals on a vast range of fruits and vegetables. The offers will be valid from February 25 to July 25, 2021 at all Carrefour’s physical and digital stores across the country.
Fittingly called “It’s a Big Deal”, the promotional campaign supports customers at a time when many are looking to trim their household outgoings and grocery spend in the wake of the pandemic. Always focused on delivering exceptional value for customers through every experience, It’s a Big Deal will see customers benefit from weekly deals and savings across several fresh food items, including quality fruits and vegetables throughout the campaign’s five-month duration.
Jean Marc Dumont, Carrefour Pakistan Country Manager at Majid Al Futtaim Retail, commented, “As a proud part of the communities we serve, we know the pandemic has brought uncertainty into our everyday lives. But with the launch of It’s a Big Deal —we are ensuring one thing: every time you visit Carrefour, you’re guaranteed exceptional choice and value. The campaign is yet another way we guarantee more for you — our loyal customers.”
Alongside providing months of savings, the extended promotion period aims to prevent too many customers rushing in to avail short-term deals, which can challenge Carrefour’s social distancing requirement.
Customers can make a welcome saving on fruits and vegetables by shopping in-store or online at www.carrefour.pk. Customers can also shop via the Carrefour app, available for download at Google Play store and Apple’s App Store.
Islamabad, February 24, 2021: Keeping customer convenience a top priority, Ufone has partnered with STARZPLAY by Cinepax to provide variety of latest TV shows, movies, kids’ entertainment and Pakistani dedicated content including selected titles in full HD with flexible payment plans. Ufone subscribers can now stream their favorite shows from any device at all times; also getting the opportunity to download all their shows for offline viewing. The platform is available for all Ufone pre- and postpaid customers to enjoy unlimited movies, videos and short films.
Through this partnership Ufone aims to provide diverse entertainment options to customers and ensures that they get amazing value for money. The service is available to users all across Pakistan with a daily price point for as low as Rs. 8/day, weekly price of Rs. 59/week and monthly price of Rs. 239/ month.
The STARZPLAY app is available for both Android and iOS devices for Ufone customers. After signing up, users can get a free trial, before they are charged for their subscription.
STARZPLAY users can view top TV shows like Friends, The Vampire Diaries, The Flash and The Walking Dead, box sets of movies including Harry Potter, James Bond and Batman plus STARZPLAY Originals like Kaash Keh. Subscribers can also view Pakistani movies like Laal Kabootar and Motorcycle Girl and Pakistani short films which showcases STARZPLAY’s support in strengthening the local talent of Pakistan. Now entertainment is truly just a click away, no matter what time of the day.
To subscribe to STARZPLAY, visit www.starzplay.pk/ufone and choose a price plan. Fill in the mobile number after which click the “Start your Trial” button. Enter the verification code sent via SMS and start streaming STARZPLAY, anytime, anywhere.
Speaking at the launch of the Ufone and STARZPLAY partnership, Arif Baig Mohamed, Chairman Cinepax Group, commented: “While STARZPLAY has a superb reputation for entertaining our Pakistani audience with an impressive library of movies, TV shows and more, our partnership with Ufone will help to strengthen our growing subscriber base and allow Ufone prepaid and postpaid customers to stream top content. We are looking forward to unprecedented times where Pakistan’s favourite streaming service will be available at the fingertips of Pakistan’s very own Telecom subscribers. The possibilities are endless”
Starting in 2001, Ufone has been a telecom industry leader for innovation and customer service. Prioritizing all its activities and services around the central goal of seamless connectivity across Pakistan, Ufone continues to bring forward new ideas for entertainment and resourceful usage for quick digitization of the Pakistani ecosystem.
Karachi: The Board of Directors of Meezan Bank Limited in its meeting, held on February 18, 2021 approved the audited financial statements of the Bank for the year ended December 31, 2020. The meeting was presided by Mr. Riyadh S.A. A. Edrees - Chairman of the Board, Mr. Faisal A. A. A. Al - Nassar – Vice Chairman of the Board was also present.
The Bank recorded excellent results for the year ended on December 31, 2020 with Profit after tax of Rs 22.17 billion as compared to Rs 15.23 billion in the corresponding period last year – an impressive growth of 46%. EPS of the Bank increased to Rs 15.67 per share against Rs 10.77 per share in December 2019 on the enhanced capital of Rs 14.147 billion The Board approved 20% (Rs 2.00 per share) final cash dividend for the year, bringing the total payout for the year to 60% (Rs 6.00 per share) as 40 % (Rs 4.00 per share) interim cash dividend was paid in addition to 10% bonus shares issued during the year.
Deposits of the Bank closed at Rs 1.25 trillion – 35% up from December 2019. Meezan Bank is now the fifth largest bank in Pakistan in terms of deposits. The Bank has a network of 815 branches and 880 ATMs in 248 cities across the country and its Mobile Banking App has been consistently ranked as the No.1 Mobile Banking App in Pakistan by both Apple Store and Google Play Store.
Meezan Bank has recently been recognized as the Best Bank in Pakistan at the Pakistan Banking Awards – the most prestigious recognition in Pakistan’s banking sector. The Bank was also recognized by the CFA Society of Pakistan as Best Bank of the Year 2019 in the Large Sized Banks category at its Annual Excellence Awards ceremony held in October 2020.
Spotify, the world’s most popular audio streaming subscription service, officially launches today in Bangladesh, Pakistan and Sri Lanka, offering a revolutionary music experience tuned to your personal taste. With a worldwide community of more than 345 million monthly active listeners including 155 million Premium subscribers, Spotify will offer a personalized listening experience for local and international music of over 70 million tracks. The Spotify service is available for free or with an upgrade to Spotify Premium, a subscription service that allows users to enjoy music without ad interruptions.
Users can upgrade to Spotify Premium for the ultimate Spotify experience for PKR 299 per month. The Premium Family subscription plan is available for PKR 479 per month for up to six family members living under one roof. The new Spotify Premium DUO (PKR 390 per month) is a subscription plan for two people living at the same home address, which includes Duo Mix, a regularly updated playlist made just for the two subscribers to discover audio they both love and enjoy together. Spotify Premium for Students subscription plans will cost PKR 149 per month. Direct carrier billing payment options are also available through Telenor and Zong.
Spotify comes to Pakistan with an unrivalled mix of features and the freedom to play across a wide range of devices and app integrations. Music fans will also enjoy Spotify’s personalized music recommendations, which will help them to enjoy, discover and share new music from both local and international artists.
“We are incredibly excited about the opportunity to bring together creators and listeners around the world. As we’ve expanded our international reach over the years, we’ve connected over 8 million artists with listeners across nearly every continent, putting Spotify firmly at the heart of the global audio economy,” said Alex Norström, Chief Freemium Business Officer of Spotify. “Launching in these new markets is a key next step to fulfilling our ongoing commitment to building a truly borderless audio ecosystem.”
“We want to share the gift of music with as many people as possible to enrich the lives of not only our listeners, but the local artists who will now have access to a global audience,” said Claudius Boller, Spotify Managing Director Middle East and Africa, who will lead a team of music and audio experts for the newly launched South Asian markets. “We always want to be where our fans are, and with this expansion we are furthering our mission of sharing the sounds of Bangladesh, Pakistan and Sri Lanka with the rest of the world.”
The new playlists offer expertly curated and regularly updated music by Spotify’s team of local music experts, across a range of popular genres for any mood or moment, including Hot Hits Pakistan, Pakistani Rock Hits, Pakistani Indie 101, Drama OSTs, Loadshedding Longing and more.
A major feature of the Spotify service is its personalisation, which allows fans to find the music they already love with ease, and also to help them discover new music and artists to love, based on their taste and listening patterns. When a new user joins Spotify, they are guided through a ‘Taste Onboarding’ process, which helps Spotify quickly customize recommendations to their music tastes.
Spotify’s music recommendation engine allows local listeners to enjoy personalised discovery features including Daily Mix (up to six individual playlists combining your favourite tracks with new songs we think you’ll love), Release Radar (a personalised playlist of new music based on the artists you follow and listen to most, updated every Friday) and Discover Weekly (a playlist based on your unique listening habits).
Over the coming days, listeners in more countries across Asia, Africa, the Caribbean, Europe and Latin America will have instant access to a world of audio, and the most talented creators will be empowered to turn their passion into a profession.
The Spotify app is available to download for free or with an upgrade to Spotify Premium. To enjoy music the way you want it, download the Spotify app today via the Android or iOS app store or by heading to www.spotify.com/free.
Want to learn more about how to get started on Spotify? Click here.
Head of WhatsApp at Facebook Will Cathcart says that the the messaging app through its latest update, for which it received backlash, is just improving ways to communicate with businesses .
Cathcart explained the new terms and services on Twitter following the release of a blog by WhatsApp regarding the new terms and service.
The senior official assured users again that WhatsApp was not “changing the privacy” of a user’s “personal conversations”. He explained that the company was just adding “new ways” to communicate with businesses.
Earlier, WhatsApp said it will be going ahead with the new terms and services despite global outcry by users.
The Facebook-owned company has said that it will start “reminding” people to accept the updated terms and conditions after asking users to review the terms of service and privacy policy.
The company admitted that it had “previously encountered a great deal of misinformation” and is now working hard to clear up “any confusion”.
“As a reminder, we’re building new ways to chat or shop with a business on WhatsApp that are entirely optional. Personal messages will always be end-to-end encrypted, so WhatsApp can’t read or listen to them,” the messaging app said in a blog.
WhatsApp assured users that it has “reflected” on what could be done better, and reminded people of the company’s “history of defending end-to-end encryption”.
“We’re now using our Status feature to share our values and updates directly within WhatsApp. We’ll be doing much more to make our voice clear going forward,” said the company.
Facebook-owned app said that in the coming weeks WhatsApp will display a banner to provide more “information” regarding the new terms and service so people can read at their own pace.
“We’ve also included more information to try and address concerns we’re hearing. Eventually, we’ll start reminding people to review and accept these updates to keep using WhatsApp,” said the Facebook-owned company.
The Facebook-owned company also attacked its rivals, without taking any names, that became popular after users started deleting the app and opting for other options due to privacy concerns.
“We’ve seen some of our competitors try to get away with claiming they can’t see people’s messages - if an app doesn’t offer end-to-end encryption by default that means they can read your messages, said the company.
It also hit out at those apps claiming that they are more secure as “they know even less information than WhatsApp”.
“We believe people are looking for apps to be both reliable and safe, even if that requires WhatsApp having some limited data. We strive to be thoughtful on the decisions we make and we’ll continue to develop new ways of meeting these responsibilities with less information, not more,” said the company.
WhatsApp also thanked everyone who has “helped” them “address concerns” and assured users that it will be “available to answer any questions”.
Key findings indicated that Consumer Confidence improved in Q4 2020 driven by a relative improvement in the Current Situation that can be largely attributed to resumption of normalcy in business activities.
Karachi, February 23: Dun & Bradstreet Pakistan and Gallup Pakistan have issued their report on ‘Pakistan Consumer Confidence Index (CCI)’ for Q4 2020.
The Consumer Confidence Index remained 90.3 points in Q4 2020, compared to 88.7 points in Q3 2020, translating into 1.8% quarter-on-quarter increase. This was driven by the improvement in Current Situation, up 14.9% q-o-q, which was magnified by a recovery from a low base as sentiments were severely dampened during the past 6 months due to COVID-19.
In contrast, Future Expectations deteriorated for the first time since Q1 2020 due to cautious optimism by individuals because of prevailing uncertainty amid resurgence in COVID-19 cases. Moreover, the overall consumer confidence in Pakistan has remained pessimistic in all four quarters of 2020.
The CCI report has been developed by assessing Consumers’ Confidence about the economy as well as their personal financial situation. The Index covers four key parameters i.e., Household Financial Situation, Country’s Economic Condition, Unemployment, and Household Savings. The Index is a reflection of ‘Current Situation’ (economic changes felt in the last six months), as well as ‘Future Expectations’ (changes expected for next 6 months) of consumers across the country. The CCI ranges from 0 to 200, with 100 as the neutral value. A score of less than 100 indicates pessimism.
During this survey, optimism has improved for Household Financial Situation, Country’s Economic Situation and Unemployment, while it has declined for Household Savings. This is primarily attributed to consumers’ concerns about Future Household Savings. This could have a cascading effect on asset related investments in the country, and overall spending by consumers. Perceptions about the Country’s Economy have improved consistently across all four quarters of 2020, highlighting upbeat consumer sentiments. Household Financial Situation was the most optimistic parameter, implying people’s household income seems to be rising after a decline due to COVID-19. During Q4, Household Financial Situation was the only CCI parameter to turn overall optimistic owing to improvement in Current Situation. While 33% consumers believe that their income levels will improve in the next 6 months in Q4 compared to 30% in Q3, 28% in Q2 and 32% in Q1.
In contrast, rising Inflation and more importantly Unemployment continue to drag consumers enthusiasm as Unemployment remained the most pessimistic parameter. Despite an increase in overall optimism regarding Unemployment, 3 out of 4 (73%) respondents believed that Unemployment has increased in the last six months as compared to 77% in Q3. During Q4 survey, 93% consumers believed that daily essentials have continued to become expensive / very expensive in the last 6 months compared to 91% in Q3. On the whole, consumers across all provinces, location (Urban and Rural) and different age groups were relatively more optimistic for Current Economic Situation, than they were during Q3 2020 survey.
Mr. Nauman Lakhani, Country Lead of Dun & Bradstreet in Pakistan stated, “The fourth issue of Pakistan Consumer Confidence marks the end of the calendar year 2020. The report compares changes in Consumer Confidence from Q3 2020 to Q4 2020. Current Consumer Confidence growth of almost 15% as compared to the last quarter is healthy; showing signs of recovery in Pakistan but consumers were cautiously optimistic as Future Expectations have declined by 6.0% as compared to Q3. I envision this Index to become a barometer of economic well-being in the Country in the years to come.”
Mr. Bilal Ijaz Gilani, Executive Director Gallup Pakistan, added, “At the end of 2020, Pakistani Consumer, whose pulse we measure in this CCI series, is cautiously optimistic about the future. The main drain on the household economy is the continually felt heat of inflation and concerns about rising unemployment. We at Gallup believe that real challenge is not to revive the economy to pre-Covid times- we seem to be quite close to that already. Challenge is, rather, to resuscitate the economy to a galloping pace – verdict is still out if the current upward trajectory is going to meet this ambitious goal.”
Karachi: PayPro, one of Pakistan’s fastest growing fintech companies which focuses on B2B and B2C payments, was awarded a PKR 7.473 million Innovation Grant by the USAID Small and Medium Enterprise Activity (SMEA) to digitize the MSMEs (Micro, Small and Medium sized Enterprises) who’re looking to collect payments through digital channels.
The grant will allow PayPro to invigorate the development of its marketplace platform with integrated digital commerce solution for MSMEs, which will include a merchant portal as well as a mobile wallet for users to manage their personal finances, enabling a seamless experience for the Pakistani consumer.
PayPro has become a prominent player amongst the emerging fintechs in Pakistan, catering to a variety of MSMEs belonging to sectors such as agriculture, education, digital commerce, healthcare, hospitality, NGOs, real estate, insurance and travel. With continuous onboarding of merchants, the ever-expanding digital ecosystem is being facilitated by PayPro in a way which will digitize the informal business segment and enable seamless integration for both businesses and customers.
Speaking on the occasion, Mr. Ali Janjua, the Chief Executive Officer of PayPro Pvt. (Ltd.) stated; “Digital finance has become the cornerstone for progressive economies as a strong reminder that in order to be sustainable, transactions have to be conducted through digital channels, especially with the COVID-19 Pandemic in the equation. As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions based on their day to day routine lives.”
He further added, “The USAID Small and Medium Enterprise Activity (SMEA) Innovation Grant is a testament to the efforts and the potential that the organization has displayed since its inception. It bolsters our confidence to continue on our mission of transforming the digital financial infrastructure within the country.”
PayPro was launched in September 2019 with a vision to enable enterprises to manage their business operations proficiently. Today, the company has processed approximately 70,000 transactions valued at more than 1 billion in throughput till date, with more than 430 merchants accepting payments through its services and a market accessibility of 25+ financial institutions including all major banks, digital wallets, MFI’s, branchless banking services, local and international card schemes and a nationwide network of over the counter cash collection partners.

As per the details, Police said that they were investigating the matter at the request of an NGO working for the welfare of women in Chitral. Police told the news source that Nikah of the girl was solemnized out of Chitral and the matter was under investigation.
“We have started an investigation into this case,” additional SHO Rehmat Ali said while confirming application against the JUI-Leader
MNA Salahuddin Ayubi was elected to National Assembly from constituency NA-263 (Kila Abdullah) as a leader of Jamiat Ulema-e-Islam (JUI-F).
According to sources, the minor girl belongs to the Daroosh area of Chitral, and her family was currently out of the district.
Tahafuz-e-Haqooq-e-Chitral Chairman Pir Mukhtar Nabi said that they were consulting lawyers on this matter and announced to file a writ petition before the court of competent jurisdiction against the MNA. Lower Chitral DPO Sonia Shimroz Khan said that the father of the girl had agreed in writing that he would not do that and would ask the local police before a “proper marriage ceremony”.
The police in northwestern Khyber Pahtunkhwa are investigating a complaint against Ayubi after it received an application from an NGO working for the welfare of the women in Chitral against the lawmaker.
In an application, Anjuman Dawat-o-Azeemat has requested the police to conduct an inquiry into whether the girl had attained the marriageable age, and if not, take action against all those responsible under the Prevention of Child Marriage Act.
The DAWN reported the girl was a student of Government Girls High School, Jughoor, where her date of birth had been recorded as Oct 28, 2006, which showed that she had not attained the age of marriage.
Lahore: Fatima Fertilizer Company Limited (FFL) has partnered up with Multan Sultans for the sixth edition of Pakistan Super League (PSL). The Multan Sultans team boasts a stellar list of best available players for the tournament starting from February 20, 2021. With the likes of Chris Lynn, Rilee Rossouw, Khushdil Shah, Shahid Afridi, and James Vince, Multan Sultans is sure to make a comeback in PSL 2021 with explosive performances.
Fatima Fertilizer Limited (FFL), the leading fertilizer brand in Pakistan, has been a formidable supporter of sports in the country, and has continuously played a major role in the promotion of traditional and popular sports in Pakistan at the national and international fronts over the years. The collaboration with Multan Sultans is yet another evidence of FFL’s unfaltering resolve to go beyond any intersectional boundaries for the elevation of cricket in the country.
Speaking at the occasion Khurram Javed Maqbool, Director Marketing and Sales at Fatima Group said,” Fatima Fertilizer is thrilled to be supporting Multan Sultans in the sixth edition of PSL 2021. We are very confident that under Mohammad Rizwan’s captaincy, the squad filled with match winners will be performing in their best form and will keep the local and international cricket aficionados hooked to each game.”
Syed Haider Azhar, Chief Operating Officer Multan Sultans expressed his views regarding the collaboration as, “It is with extreme pleasure that I proclaim Fatima Fertilizer as one of our main sponsors for PSL. Despite a very limited crowd allowed in stadiums in observance of the Covid-19 SOPs, the excitement of the cricket fanatics is at an all-time high, therefore both the entities complement each other’s objectives of entertaining them and promoting the nation’s favourite sport to the best of our abilities.”
Pakistan Super League, a Twenty20 franchise by Pakistan Cricket Board is in its sixth season which is held entirely in Pakistan for the second successive year. The 34 scheduled matches will be played in Lahore and Karachi between February 20 and March 22, 2021. The Multan Sultans team is in high spirits and expects to make it to the final through its exceptional batting line-up and outstanding spinners.
U.S. deaths passed the 500,000 mark on Monday. Global deaths related to Covid-19 have surpassed 2.46 million, with the U.S. leading all countries with more than twice the number recorded by the next closest, Brazil, according to Bloomberg’s virus tracker.
Hospitalizations and deaths have fallen since peaking in early January as treatments have improved, a rising number of Americans have gotten natural immunity from surviving the virus, and more people are getting shots of vaccines produced by either Moderna Inc. or the Pfizer Inc.-BioNTech SE team. There’s still a growing threat, though, from swift-moving mutations that have emerged from the U.K., South Africa and Brazil, and are now increasingly seen in the U.S.
“Half a million deaths,” said Anthony Fauci, the U.S.’s top infectious disease doctor, on CNN’s “State of the Union” broadcast on Sunday. “It’s terrible. It is historic. We haven’t seen anything even close to this for well over a hundred years since the 1918 pandemic of influenza.”
President Joe Biden, in remarks before a candle-lighting ceremony at the White House honoring the Americans who died of the virus, called the loss a “heartbreaking” milestone.
“That’s more Americans who’ve died in one year in this pandemic than in World War I, World War II and the Vietnam War combined,” he said. “That’s more lives lost to this virus than any other nation on earth.”
About 657,000 in the U.S. died during the 1918 influenza pandemic with no vaccines available and no antibiotics to treat secondary infections, according to the U.S. Centers for Disease Control and Prevention. At least 50 people million died worldwide.
In the beginning of March 2020, only three coronavirus-related deaths had been recorded in the U.S. By mid-April, the seven-day average for deaths topped 2,000. There have been more than 88,200 deaths just in the last month.
While less than 1% of the U.S. population lives in nursing homes and other long-term care facilities, about 35% of deaths have occurred there as of Feb. 18, according to the Long-Term Care COVID Tracker. The need to isolate residents to protect them from infection came at a high cost as families couldn’t talk with and care for older parents and grandparents, and sometimes left them unable to say goodbye.
Lately, though, there’s been the sense that a turnaround may be possible. Weekly deaths in long-term care centers fell to 4,239 as of Feb. 18 after reaching more than 7,000 a month earlier.
The number of hospital beds occupied by Covid-19 patients on Feb. 18 fell to the lowest number since Nov. 18, according to the U.S. Department of Health & Human Services. Still, the overall number remain high at 63,523.
At the same time, more Americans have now received at least one dose of a vaccine than have tested positive for the virus since the pandemic began. As of Sunday, 63.1 million doses had been given to people in the U.S., a number that leads the world. In the last week, an average of 1.33 million doses a day were administered.
To speed up vaccinations after a rocky start, the U.S. government on Jan. 12 began encouraging states to start immunizing all residents 65 and older, along with those ages 16 and older with certain medical conditions.
The changes would open vaccinations up to more than a third of the U.S. population. The Biden administration has said that it’s working to expand the supply of vaccines to help meet that goal.
By speeding up vaccination, health officials hope to cut off the spread of the mutations emerging from the U.K., South Africa and Brazil, the latter two of which have shown an ability to weaken -- though not yet overcome -- the Pfizer vaccine.
Swift-Moving Variants
The mutation that emerged from the U.K. has been particularly aggressive, identified in 1,523 cases in 42 states as of Thursday. Federal officials have expressed concern it could soon become dominant nationwide.
The variant from South Africa, first identified in the U.S. on Jan. 28, has now infected 21 Americans in 10 states, according to the CDC, with Idaho joining the list as the 11th on Friday. The mutation that emerged from Brazil is the latest to reach U.S. shores. It’s now been identified in five cases in four states -- Maryland, Florida, Oklahoma and Minnesota.
It’s not yet clear any of these highly-contagious mutations are necessarily deadlier. But the increased level of contagion alone is a problem, with more transmissions potentially leading to further surges before the vaccination campaign can take hold.
Microsoft Corp. co-founder Bill Gates, asked in an an interview on Bloomberg Television asked about deaths passing the half-million mark, said: “It’s enough that I’m sure it’s touched almost everybody.”
Gates, whose foundation has backed numerous efforts to fight Covid-19, faulted the U.S. government for failing to contain the crisis. “We count on the government to both before something bad happens and when something bad happens to protect us and it didn’t work in this case,” he said.
(Updates with Gates interview, in final two paragraphs.)
For more articles like this, please visit us at bloomberg.com
Habib Bank Limited (HBL) held its webinar to discuss CY20 results and future roadmap. Recall that Habib Bank Limited (HBL) reported earnings of PKR 3.9/sh (down 14.9/43.3% on YoY/QoQ), taking CY20 earnings to PKR 21.1/sh (up 101% YoY). Reason behind the decline in profitability was due to significant increase in deposit cost (mark-up expense increased by 10.0% on QoQ basis to the tune of PKR 32.
0Bn), absence of capital gains and provisioning charge of PKR 3.7Bn. The bank also an-nounced below expected cash dividend of PKR 3.0/sh in 4QCY20, taking CY20 pay-out to PKR 4.3/sh. Key highlights of the webinar are presented below:-
Key takeaways from the briefing are:
Note that the bank has exercised the call option on all outstanding Tier II Certifi-cates with the outstanding principal amount of PKR 9.98Bn. As a result of this, the bank has slashed dividends in 4QCY20 to improve capital buffer, in our view.
Net Interest Income (NII) improved by 28% on a YoY basis to PKR 130Bn in CY20 in which domestic NII rose by 32% YoY to PKR 122Bn. NIMs of the bank have im-proved by only 52bps in CY20 to 5.7% which is attributable to immediate down-ward repricing of assets, which as per the bank, started from Q3’20.
Non-Interest Income of the bank posted an increase of 28% YoY to PKR 31.0Bn in CY20 mainly due to higher capital gains (unrealized gains of PKR 9.7Bn out of which PKR 8.1Bn were realized in CY20). Fee income started to rebound in 3QCY20 but showed a decline of 8% YoY to PKR 1.7Bn mainly due to decline in Bancassurance and investment banking related income. Moreover, the bank expects NIMS to shrink to 4.75-5.0% in CY21 while ROE is forecasted to average at around 18-19% in CY21.
Overall advances have gone up by ~4.8% YoY to PKR 1.2Trn with major spike seen in 4QCY20 (↑ 10% YoY). Domestic advances have increased with similar pace (4.9%) to settle at over PKR 1.0Trn while international advances increased by mere 1.4% to USD 1.3Bn. The bank’s Advances to Deposits Ratio (ADR) now stands at ~43.2% and they expect to maintain market share going forward.
While commenting on the TERF facility, the bank has disbursed PKR 35Bn in CY20 and PKR 10.0Bn for construction sector in particular.
On the provisioning front, the bank booked provision charges of PKR 12.2Bn in CY20 where PKR 6.4Bn was booked under general provision to account for future losses that may arise from the SBP provided relief schemes due to Covid-19. On international side, the bank booked provision charges of PKR 5.0Bn out of which PKR 1.3Bn was booked under general provisions while the rest were booked under specific provisions (PKR 3.7Bn). Overall, NPLs increased by a meagre PKR 0.2Bn, taking infection ratio of the bank to an all time low of 6.3% in CY20 compared to 6.6% in CY19. As a result of higher provision charges, coverage ratio now stands at 100% where specific coverage ratio slightly reduced by 2.4ppts to 86.3% due to pile up of fresh NPLs.
The bank’s investment portfolio continued to grow and stands at around PKR 1.9 Tn. The bulk of this portfolio (~PKR 1.7trn) is concentrated in government securities. HBL is currently hold-ing PKR 1.0trn worth of PIBs (35% are floater while rest are parked in fixed PIBs).
Despite COVID-19 related uncertainties, overall deposit base of the bank grew by 16.1% YoY to PKR 2.8trn in which current accounts share is around 36% (PKR 1.0 Trn). On the domestic side, deposits shot up by 15% YoY (an increase of PKR 400Bn) since Dec’19 led by 15% YoY increase in current accounts (↑PKR 116Bn YoY) and 20% YoY improvement in savings ac-counts with overall CASA of 85.8%, a slight decline from 86.2% in the past year. International deposits of the bank have witnessed a decline of 6% to USD 1.6Bn.
While commenting on the RDA accounts, the bank stated that they have already attained 18-19% share in this segment.
The bank expects to open 100 new Islamic branches in CY21 (mostly commercial branches are likely to convert to Islamic branches). The management also said that they are likely to inau-gurate Beijing branch in Mar’21.
Report courtesy: BMA Capital Management Ltd.
______________________
inqilaab.pk@gmail.com
_____________________
TechNewsPakistan: Your Ultimate Source for the Latest in Technology Stay ahead of the curve with TechNewsPakistan, your go-to destination for the latest updates in technology, mobile phones, business, agriculture, and automotive news. Our dedicated team brings you timely and accurate information, keeping you informed about the most recent advancements and trends in the tech world. Whether you're a tech enthusiast, a business professional, or someone passionate about innovation, TechNewsPakistan has everything you need to stay connected and knowledgeable in today's fast-paced digital landscape.