Record improvement in Business Confidence during May to July 2021 – OICCI Survey

Record improvement in Business Confidence during May to July 2021 – OICCI Survey

Karachi, August 23, 2021: Overseas Investors Chamber of Commerce and Industry (OICCI) shared the results of its comprehensive Business Confidence Index (BCI) Survey – Wave 20, conducted throughout the country during May to July 2021, which revealed that the overall Business Confidence Score (BCS) in Pakistan now stands at positive score of 9 percent, a record improvement by 59 percent from the previous negative 50 percent score in Wave 19 Survey conducted in May 2020. It may be noted that a positive BCI was last seen during Wave 16 conducted in April 2018.

OICCI BCI Survey, conducted periodically, is a comprehensive feedback from the frontline business stakeholders of their views on the environment and opportunities impacting their respective business operations. The feedback covers business environment at regional, national, sectorial, and own business entity levels in the past six months, as well as the anticipated business and investment environment in the next six months.

This survey is done face to face, across the country in nine cities, covering 80% of the GDP, with higher weightage given to key business centers of Karachi, Lahore, Rawalpindi-Islamabad, and Faisalabad. The survey sample consisted of 40 percent respondents from Manufacturing sector, 35 percent from the Services sector and 25 percent from the retailers / wholesalers.

The confidence of the business community across Pakistan shifting over from negative territory in last survey to positive territory is driven by all the three segments, manufacturing, services, as well as the retail/wholesale sectors, with the first two recording an increase of 65% each, (manufacturing from -48% to positive 17% and services from -59% to positive 6%) whilst the retail/wholesale sector went up by 44% (from -44% to 0). As the lockdown restrictions have been lifted many of the manufacturing concerns have gone back to their 100% capacity of production and are able to sell their product even during the lockdowns, which positively impacts all business sectors. Retailer and Wholesalers were largely affected by the Covid – 19 restrictions as their business hours were cut short resulting income, cash flow and other issues. This segment also believes that the next 6 months will fare better with more sales, profits, and better situation overall for Pakistan.

Commenting on the improved BCS, Irfan Siddiqui, President OICCI, observed “the results of BCI Survey suggests a very dramatic turnaround in the confidence of businesses, including foreign investors. Despite challenging macro-economic indicators like the high exchange rate, accelerated inflation, partially offset by reduced bank interest rate, the Wave 20 BCI feedback strongly reflects optimism of the business community moving forward, contrary to the pessimism in the previous Wave 19. The key drivers of this optimism, and turnaround in sentiments, are the business community’s strong positive perception towards the future, specifically the next 6 months. Through proactive economic and social policy measures taken by the authorities supported by the roll out of vaccines, the government appears to have succeeded in building confidence among the key economic stakeholders”.

The fiscal budget 2021-22 proved to be a hit amongst the business community as the BCI score was significantly higher post fiscal budget, with respondents perceiving those policies are now more transparent, consistent, and predictable and expecting improvement in their business related KPIs over the next six months.

The main driving force for the huge turnaround in the Wave 20 Business confidence score is the significant increase in optimism of respondents for the next six months in respect of their respective city’s business situation (+21 percent), industry business situation (+19 percent), own business situation (+20 percent), anticipated sales volume increase (+20 percent), profit increase (+22 percent) and return on investment increase (+19 percent).  

The sentiments of the OICCI members, the leading foreign investors, who were randomly included in the survey, has also recorded a sharp turnaround, and witnessed an improvement of 108 percent, from 74 percent negative in Wave 19, to 34 percent positive in the latest BCI Wave 20 survey, surpassing the overall countrywide BCI of 9 percent.  

Commenting on the concerns expressed by several respondents, OICCI CEO/Secretary General M. Abdul Aleem stated that “the three major threats to business growth identified in the survey, are corruption (67 percent), volatile energy costs (66 percent) and currency devaluation (60 percent) which could potentially slow down business growth in Pakistan. Nine of ten survey respondents believe that COVID had made it difficult to perform day to day business operations.”

Looking ahead, survey respondents expressed continuing optimism in next six months with 25 percent (negative 35% in Wave 19) expecting expansion in business operations, 39 percent (12 percent in Wave 19) of the respondents planning new capital investment and 12 percent respondents (negative 31 in Wave 19) indicated plans for increased employment in their respective businesses.

The OICCI is the collective voice of major foreign investors in Pakistan. The over 200 OICCI members, from 35 different countries, have a presence in 14 sectors of the economy and contribute over one-third of Pakistan’s total tax revenue, besides facilitating transfer of technology and skills and providing employment to a sizeable number of people. 57 OICCI member companies are listed on the Pakistan Stock Exchange and 50 members are associates of the 2020 Global Fortune 500 companies. Besides their business operations the OICCI members realize their corporate social responsibilities and are major contributors to various CSR activities benefitting 6.2 million persons from underprivileged communities in 2020.

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The True Spirit of Charity - act of kindness is indeed a joy forever!

The True Spirit of Charity - act of kindness is indeed a joy forever!

An act of kindness is indeed a joy forever! If we dig deep into this saying, we realize that kindness and generosity have the power to change the world - which is how such acts can be engraved into the hearts of people, which is why such acts live forever and are also a constant source of satisfaction and pleasure for the benefactor for the times to come.

The best way to show kindness is through simple acts of generosity. People will forget what you said but they will never forget what you did to make a difference in their life. Our religion is a great advocate of charity. The Holy Quran says:"Worship none but Allah. treat with kindness your parents and kindred, and orphans and those in need; speak fair to the people; be steadfast in prayer; and practice regular charity" (2:83).

History is full of examples of people who are an embodiment of their love for humanity. However, when we talk about compassion for humanity, our Holy Prophet (PBUH) is undoubtedly the most magnanimous, the most benevolent and the most self-sacrificing human being to have lived on the face of this earth. The Prophet Muhammad (PBUH) was not only generous himself; he continuously encouraged and motivated his followers to help others, to support the families of their Muslim brothers, neighbors, communities and the entire Muslim Ummah in various ways like feeding the poor and needy, by providing water to the needy, by helping orphans and by taking care of the widows are only a few ways in which our Prophet (PBUH) showed his love for humanity.

Charity has multitude of benefits for a community. When you donate money for charity organizations within your county, you are helping to create a community that is strong and self-sustaining. It is not strange to have financially weak members in a community and this is not only restricted to the third world countries only, however, when people of a community help each other, they help to make their community stronger and united. 

It is heartening that Pakistanis recognized as one of the most charitable nations of the world as it donates over 1% of its GDP in charity, upholding the spirit of charity in various forms like Zakat, Sadqa and Fitrana. However, according to Pakistan Bureau of Statistics (PBS), the Household Integrated Economic Survey (HIES) 2018-19 reveal that 16% of Pakistan’s population is experiencing moderate or severe food insecurity with the incidence of being twice as high in rural areas than urban areas: 20% and 9.2% respectively.

There are many reputable government and non-profit charity organizations that have been providing services to needy for many years now and over the recent years, there has been a significant increase in this trend. World renowned and famous organizations like the Edhi Foundation, Shaukat Khanum Cancer Hospital and Chippa Welfare Association along with many other philanthropist organizations are working tirelessly for the needy. These altruistic organizations don’t wish to publicize and flaunt their charity work as they know that our religion always reminds us to be humble about our acts of charity, as any act of charity must not be embarrassing to the recipients. Another such organization, Yuseaid Foundation has also emerged as a community-oriented and public-spirited charity organization which works selflessly towards various objectives, as their target is not just restricted to only helping the poor. From eliminating hunger, eradicating child labour to raising a voice against unequal distribution of wealth and providing opportunities to the youth in Pakistan, their mission is not restricted to a specific field; rather they work in diverse fields as they believe to take the lead when they see the need! Such dynamic charity organizations indeed are a role model for the entire nation as they provide encouragement to those who want to participate in acts of kindness and generosity without the aim to gain popularity.

As we have embarked on our journey into 2021, we are looking forward to a more promising year ahead.In 2020, factors like high food prices, locust outbreaks, climate events such as rains, flooding, droughts, and the effects of the COVID-19 pandemic all exacerbated the number of people who face food insecurity and other social and financial challenges. Hence, there is a need to institutionalize individual efforts into more structured and organized efforts, under the umbrella of renowned and selfless charity organizations.

Faith in the Almighty and love for humanity – the strongholds of our religion will always be a guiding force in our endeavor to make Pakistan a place where no one sleeps hungry, where no child is denied his right to education, where every citizen gets equal opportunity in every walk of life because a generous and helpful community is indeed a socially and economically strong community.

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Peek FreansPik Releases ‘Banao Har LamhaKhaas’ by Zeb Bangash

Peek FreansPik Releases ‘Banao Har LamhaKhaas’ by Zeb Bangash

Islamabad:Pakistan’s leading biscuit manufacturer EBM, through its brand Peek Freans Pik, has launched a new song ‘Banao Har LamhaKhaas’, in collaboration with Pakistani singer and songwriter Zeb Bangash.

The initiative is a continuation of the ‘Banao Har LamhaKhaas’ campaign and aims to highlight the significance of making each and every moment special  – no matter how big or small – it holds in a person’s life. With the release of the single, Peek Freans Pik targets young adults who often forget to celebrate ordinary everyday moments on a daily basis, merely due to their hectic and demanding routines.

The film, illustrated by artist GulbeenGulraiz, focuses on various situations where the protagonist goes out of the way to make various ordinary moments special (case in point: When the main character is stuck in a traffic jam with their loved one and instantly chooses to make the ordinary moment memorable). Ultimately, with ‘Banao Har LamhaKhaas’, Peek Freans Pik celebrates these simple moments and aims to inspire its customers to incorporate them into their everyday lives. 

The song has released on all platforms and can be viewed on the following link:https://www.youtube.com/watch?v=pcndPz1r6kw

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Minister for Climate Change inaugurates Coca-Cola Beverages Pakistan’s ‘Clean and Green’ drive

Minister for Climate Change inaugurates Coca-Cola Beverages Pakistan’s ‘Clean and Green’ drive

Faisalabad, August 27, 2021: In the presence of Minister of State for Climate Change, Zartaj Gul, Coca-Cola Beverages Pakistan Limited (CCI Pakistan) inaugurated its ’Clean and Green’ drive 2021 at its production facility in Faisalabad. As per a MoU signed earlier in the year between both entities, CCI Pakistan had pledged to plant 50,000 tree saplings across the major cities of Pakistan, out of which more than 10,000 saplings were donated during this first drive event. The event was attended by other high ranking government officials and senior members of CCI Pakistan’s team. 

The tree saplings consisting of Malta, Arjun, and Olive fruit varieties were handed over to the Ministry of Climate Change for plantation in Faisalabad by the senior members of CCI Pakistan team. Appreciating the initiative, Zartaj Gul, Minister of State for Climate Change stated, “The ‘Clean and Green’ drive initiated by CCI Pakistan is an extension of Prime Minister Imran Khan’s vision of a greener Pakistan. In order to achieve this vision, every citizen of Pakistan must play its role. By honoring its commitment to plant 50,000 trees across Pakistan, CCI Pakistan has proved itself to be a responsible corporate citizen.”  

Speaking about the occasion, Ahmet Kursad Ertin, General Manager at CCI Pakistan said, “CCI Pakistan is a socially responsible and environmentally conscious corporate citizen of Pakistan. We feel it our social responsibility to help restore the natural biodiversity, as this is the only way to counter the catastrophic challenges of climate change faced by Pakistan.”

The event concluded with a tour of CCI’s state-of-the-art production facility, and the reiteration by the company to fulfill its social pledge of protecting the environment through contribution to the government’s efforts of building a clean and green Pakistan.

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Qismat badalne main der nahi lagti - Ex-Afghan minister has now became ‘pizza delivery boy’ in Germany

Qismat badalne main der nahi lagti - Ex-Afghan minister has now became ‘pizza delivery boy’ in Germany

A former Afghan minister was spotted "delivering pizza" in Germany a year after he left his position in Afghanistan. Oxford graduate Ahmad Saadat was spotted on streets of Leipzig in orange-coloured clothes with a bag hung on his back. Syed Ahmad Shah Saadat, a former Afghanistan information minister, could be seen dressed in orange-coloured clothes with a bag hung on his back in Leipzig, India Today reported. The pictures, captured by a German journalist, of Saadat went viral on social media.
The journalist claimed that he had spotted Saadat on the streets of Leipzig as he was delivering pizzas on a bicycle.

"A few days ago, I met a man who claimed to have been the Afghan communications minister for two years ago. I asked what he was doing in Leipzig. "I'm driving out of Essen for Lieferando" [the man told the jounalist]"," the journalist wrote on the microblogging site, Twitter.

The report stated that Lieferando provides food delivery services in Germany.

Reportedly, Saadat, while speaking to Sky News Arabia, confirmed that the pictures circulating were indeed his.

Syed Ahmad Shah Saadat had joined the Ashraf Ghani-led Afghan government as a cabinet minister in 2018. He had served for two years as the Afghanistan information and technology minister and later resigned in 2020. He then reportedly arrived in Germany in December last year.

Interestingly, Saadat also holds two master's degrees in communications and electronic engineering from Oxford University, the Hindustan Times reported.

The photos of the former Afghan minister were circulating at a time when his country's control has been taken by the Taliban with foreign forces engaged in the evacuation process of people from different countries.

The Taliban's stunning and rapid takeover of Afghanistan was the result not only of their battlefield strength but also a sustained push to force surrenders and cut deals.

The group mixed threats and lure with propaganda and psychological warfare as they took city after city — some with barely a shot fired — eventually capturing the capital Kabul on August 15.

When asked about the developments in Afghanistan, Saadat told the media, "The fall of the Ashraf Ghani government so quickly, was not expected."

As foreign troops began their final withdrawal in May, Washington and Kabul were confident the Afghan military would put up a strong fight against the Taliban.

With more than 300,000 personnel and multibillion-dollar equipment more advanced than the Taliban arsenal, Afghan forces were formidable — on paper.

Ich recherchierte die Story nach, las afghanische Zeitungen, sprach mit anderen Afghanen. Sie stimmte. Gestern nahm er sich zwei Stunden vor seiner Schicht Zeit, um mir zu erzählen wie es dazu kommen konnte. Der Fall des Sayed Ahmad Shah Sadaat für @LVZ 🚲 https://t.co/VEfH6rv1E2 pic.twitter.com/ATwnt5bWGa

— Josa Mania-Schlegel (@JosaMania) August 21, 2021

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Regular walnut consumption is linked to longevity, reduced death risk

Regular walnut consumption is linked to longevity, reduced death risk

👉 It's a practical tip that can be feasible for a number of people who are looking to improve their health, which is top of mind for many people.

Consuming walnuts regularly may be associated with a lower risk of death and an increase in life expectancy among older adults compared to those who do not eat the nuts, according to a Harvard-led study.

The research, published in the journal Nutrients, found five or more servings of walnuts per week may provide the greatest benefit for reducing mortality risk and increasing life expectancy.

"What we have learned from this study is that even a few handfuls of walnuts per week may help promote longevity, especially among those whose diet quality isn't great to begin with," said Yanping Li, senior research scientist at Harvard T.H. Chan School of Public Health in the US.

"It's a practical tip that can be feasible for a number of people who are looking to improve their health, which is top of mind for many people," said Li, lead investigator of the study.

The research found that eating five or more servings per week was associated with a 14 per cent lower risk of death from any cause, 25 per cent lower risk of dying from cardiovascular diseases (CVD), and a gain in about 1.3 years of life expectancy, compared to those who didn’t consume walnuts.

Consuming walnuts two to four times per week could have its benefits, too, with the researchers finding a 13 per cent lower risk of death overall, 14 per cent lower risk of dying from cardiovascular diseases, and a gain in about one year of life, compared to non-walnut consumers, the researchers said.

Even among people with a suboptimal diet, just a half serving per day increase in walnut consumption was associated with benefits, including 12 per cent reduced risk of death and 26 per cent lower risk of death from cardiovascular diseases, specifically, they said.

For this study, the researchers examined data from 67,014 women of the Nurses’ Health Study with an average age of 63.6 years and 26,326 men from the Health Professionals Follow-up Study aged 63.3 years in 1986.

Participants were relatively healthy when they joined the studies, and were followed for about 20 years (1998-2018).

Dietary intake was assessed every four years in which participants reported on their overall dietary intake, including how often they consumed walnuts, other tree nuts, and peanuts, as well as lifestyle factors like exercise and smoking status.

Based on this data, the researchers were able to identify associations between walnut consumption at varying levels and different health indicators related to longevity.

"We observed that participants with higher amounts of walnut consumption, as well as the frequency, had a lower risk for all-cause mortality and CVD mortality compared with non-consumers," the authors of the study wrote.

The researchers noted that as an observational study, these results do not prove cause and effect, but they do shed light on how walnuts may support an overall healthy lifestyle that promotes longevity.

Participants who consumed greater amounts of walnuts tended to be more physically active, have a healthier diet, lower alcohol consumption, and take multivitamins, they said.

All of these factors could influence life expectancy, however, the researchers adjusted for these aspects in their analysis.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

WebDesk

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realme C25s Makes a Spectacular Debut in Pakistan - 3,000 Units Sold in First Few Hours

realme C25s Makes a Spectacular Debut in Pakistan - 3,000 Units Sold in First Few Hours

• realme Introduces realme C25s Raking-in 3,000 Units in Sales By Midday
• realme C25s Sells 3,000 Units on its First Day Becoming the Best Device in the 20K Range

realme C25s is available from August 26 – 30, 2021 exclusively on Daraz.pk as part of the realme Fan Fest 2021 and has already sold around 3,000 units in the first few hours

Lahore, August 26, 2021: With two million handsets sold in Pakistan and a 100 million the world over, realme has cemented its position as a continuously innovative company that centers on affordability and quality. Being the fastest to achieve these milestones in the entire smartphone industry, realme has introduced their most powerful C-Series device to-date called the realme C25s – a smartphone that packs power, speed and a long-lasting battery along with true quality, all for PKR 20,999/-. The phone has already gone to sell around 3,000 units in the first few hours on Daraz.pk

The realme C25s is an aesthetically beautiful device. The back cover of the device is processed texture where each device is polished for approx. 300+ minutes making it captivating to the eyes, and less susceptible to fingerprints and scratches. The device is the most powerful in the realme C-Series range, powered by MediaTek Helio G85 Gaming Processor – that gives the ultimate gaming experience on a smartphone in this affordable price bracket. 

A 6,000 mAh battery keeps the fun going for long, and with the 18W Quick Charge, one doesn’t have to wait long enough for it to be charged back up. With a 48MP camera that takes clearer, crisper images, the 6.5-inch screen gives an immersive display like none other bearing spectacular selfies on the 8MP Selfie Camera.

The realme C25s also checks all the right boxes when it comes to quality. Bearing the TÜV Rheinland’s High Reliability Certificate, it promises great quality and reliability throughout its features be it hardware or software. The smartphone also comes with an Instant Fingerprint Sensor making it superfast yet super secure to login and unleash its power-packed performance.

realme C25s is available exclusively on Daraz.pk from August 26 to 30, 2021 for the affordable price of PKR 20,999/-. So, to all the current realme Fans and realme Fans-to-be who want to join in the two million realme family, head over to Daraz and get your realme C25s today.

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Federal Trade Commission says Facebook 'bought and buried' rivals in renewed antitrust fight

Federal Trade Commission says Facebook 'bought and buried' rivals in renewed antitrust fight

• FTC's case against Facebook represents one of the most significant challenges by the agency against a tech company

The US Federal Trade Commission refreshed its antitrust case against Facebook Inc on Thursday, adding more detail on the accusation the social media company crushed or bought rivals and once again asking a judge to force the social media giant to sell Instagram and WhatsApp.

At 80 pages, the new complaint is significantly longer than the original one and includes additional data intended to support the FTC's contention that Facebook is a monopolist. An expanded portion of the complaint argues that Facebook dominates the US personal social networking market with more than 65% of monthly active users since 2012.

The FTC voted 3-2 along party lines to file the amended lawsuit and denied Facebook's request that agency head Lina Khan be recused. Khan participated in filing the new complaint.

The agency also repeated its request that a court order Facebook to sell Instagram, which it bought in 2012 for $1 billion, and WhatsApp, which it bought in 2014 for $19 billion.

The FTC accused Facebook of an "illegal buy or bury scheme to crush competition" in the headline of the press release on its complaint https://www.ftc.gov/news-events/press-releases/2021/08/ftc-alleges-facebook-resorted-illegal-buy-or-bury-scheme-crush.

Facebook said it would continue to fight the lawsuit.

"It is unfortunate that despite the court's dismissal of the complaint and conclusion that it lacked the basis for a claim, the FTC has chosen to continue this meritless lawsuit," a company spokesman said. "Our acquisitions of Instagram and WhatsApp were reviewed and cleared many years ago, and our platform policies were lawful."

NOT THE SAME AS TWITTER

The FTC's high-profile case against Facebook represents one of the most significant challenges the agency has brought against a tech company in decades, and is being closely watched as Washington aims to tackle Big Tech's extensive market power.

"Despite causing significant customer dissatisfaction, Facebook has enjoyed enormous profits for an extended period of time suggesting both that it has monopoly power and that its personal social networking rivals are not able to overcome entry barriers and challenge its dominance," the amended complaint said.

In an effort to show Facebook's dominance in personal social networking, the FTC's complaint differentiated it from short video app TikTok and sites like Twitter, Reddit and Pinterest, which it said are not focused on connecting friends and family.

The amended complaint comes after Judge James Boasberg of the US District Court for the District of Columbia said in June that the FTC's original complaint filed in December failed to provide evidence that Facebook had monopoly power in the social-networking market.

Beginning in 2007, Facebook invited apps to its platform to make it more attractive but realized that some could develop into competitors, and slammed the door in 2013 to any app that could become a rival but reversed itself in 2018 under pressure in Europe, the complaint said.

"Having suspended its anticompetitive platform policies in response to anticipated public scrutiny, Facebook is likely to reinstitute such policies if such scrutiny passes," the complaint said.

Facebook shares were up 0.2% at $356.09 in afternoon trading.

'A BETTER COMPLAINT'

John Newman, who teaches at the University of Miami School of Law, said the complaint clearly responds to Judge Boasberg's concerns about the first version. "There aren't huge new bombshells in here."

A second antitrust expert said he believed the court would have a hard time ordering the sale of Instagram or WhatsApp because they were purchased years ago.

"It is a better complaint because it states with much more specificity that Facebook has dominance in social networking," added Seth Bloom of Bloom Strategic Counsel.

US Senator Amy Klobuchar, the chair of the Senate Judiciary Committee's antitrust panel, said she was pleased to see the FTC hold Facebook accountable for a "long history of anticompetitive behavior."

Alex Harman of consumer rights group Public Citizen said, in a reference to the FTC's new chair, Khan, that the refiling of the case "should be a message to Facebook and other monopolists that there is a new sheriff in town and the party is over."

Reuters

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Jazz Awarded Shaukat Khanum Corporate Social Responsibility Award 2020

Jazz Awarded Shaukat Khanum Corporate Social Responsibility Award 2020

Lahore: In recognition of its sustainability initiatives, Shaukat Khanum Memorial Cancer Hospital & Research Center (SKMCH&RC) has awarded Jazz the Shaukat Khanum Corporate Social Responsibility Award 2020.

Tariq Azam, Director Marketing – SKMCH&RC, congratulated Jazz on receiving the award and acknowledged their invaluable support. He said, 

“During the pandemic the process of patient care changed dramatically, increasing costs substantially. In such challenging circumstances, Jazz stood by us. We would like to especially acknowledge Jazz for their generous contribution last year in our fight against COVID-19 and for helping us in spreading cancer awareness. We hope they continue supporting our cause in the years to come.”

“We extended our full support to various organizations to play our part in limiting the devastating impact the pandemic had on the vulnerable communities, including the frontline healthcare workers. Jazz commends the work SKMCH is doing in combatting the pandemic and in areas of cancer treatment and research,” 

said Syed Fakhar Ahmed, Chief Corporate & Regulatory Affairs Officer – Jazz.

Last year, Jazz announced PKR 1.2 billion COVID-19 relief support, which included short to mid-term initiatives to limit the negative impact of the pandemic, primarily for the most vulnerable communities.  This also included a PKR 8 million funding to SKMCH&RC for 1,000 COVID-19 tests, which were utilized to diagnose the underprivileged. Jazz also carried out a cancer awareness and fund-raising campaign via its social media assets and mass SMS to support the Shaukat Khanum Memorial Trust (SKMT) in raising donations. This is the 8th Shaukat Khanum Corporate Social Responsibility Award that the mobile operator has received.  In the last four years, Jazz has contributed significantly towards sustainable initiatives that empower the youth through technology and philanthropy in the areas of natural disaster relief and healthcare.

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Emirates restarts operations and boosts connectivity across its network as travel restrictions continue to ease

Emirates restarts operations and boosts connectivity across its network as travel restrictions continue to ease

Karachi, 23 August 2021: With the recent announcements of the UAE easing entry protocols for 12 countries*, and the UK adding the UAE on its ‘amber list’, Emirates is actively responding to the spike in travel demand across its network to make it easier for customers to connect to Dubai and beyond through the scaling up of its operations.

In line with the easing of restrictions, the airline will be restoring capacity across 29 cities on its network on over 270 flights as well as fine-tuning its schedules to boost frequencies and capacity as demand proliferates for international leisure and business travel.

Expansion of services to/from the UK

By October, the airline will increase its services to 73 weekly flights to the UK, including a six times a day London Heathrow operation; double daily A380 flights to Manchester, ten weekly services to Birmingham and daily services to Glasgow.

From today, Emirates will begin serving London Heathrow with three daily flights, all operated by its flagship A380. Throughout August and September, Emirates will gradually increase its operations to London Heathrow, and by the middle of October, the airline will have restored its operations to six daily flights, of which four will be served by the A380. The multiple daily flights served by the airline’s flagship A380 will provide significant connection opportunities to one of the highest demand leisure and business markets in the world.

For Emirates customers wishing to travel to the UK, the airline has optimised schedules to create the best connection options from its network, particularly across major cities in Africa like Johannesburg, Cape Town and Lusaka, and in West Asia including Karachi, Islamabad, among other cities. The latest travel requirements to the UK are available here.

Boosting US operations and restoration of services across Africa

Emirates currently flies to 12 cities in the United States on over 70 weekly flights, and will be adding additional frequencies to Houston, Boston and San Francisco over the course of August to accommodate for the seasonal influx of travellers.

The airline will also be boosting capacity on its four weekly services to New York JFK to its flagship A380 from 13 August, improving travel options for customers connecting to/from the major US city from across the airline’s network. Emirates will continue to make schedule and capacity adjustments to match its services with customer travel trends.

Emirates has increased flights to Johannesburg from daily to 11 weekly flights, with the addition of four linked flights with Durban, and the airline also flies to and from Cape Town with three weekly services. Customers flying in and out of Emirates’ three South African gateways can safely connect to an array of onwards connections to Europe, Middle East, West Asia and the United States.

Flights to/ from South Africa have also been scheduled to allow for convenient connections and additional access to Emirates’ four gateways in the UK, as well as Emirates’ extensive US network.

The airline has also reinstated capacity on its flights to and from Lusaka (linked with Harare) and Entebbe with five weekly flights each.

As international borders reopen and travel restrictions ease, Emirates continues to expand its network safely and sustainably, matching capacity with demand in line with market dynamics and operating conditions. The airline has resumed passenger services to over 120 destinations, recovering close to 90% of its pre-pandemic network.

Dubai: Since it safely resumed tourism activity in July, Dubai remains one of the world’s most popular holiday destinations, especially during the winter season. The city is open for international business and leisure visitors. From sun-soaked beaches and heritage activities to world class hospitality and leisure facilities, Dubai offers a variety of world-class experiences. It was one of the world's first cities to obtain Safe Travels stamp from the World Travel and Tourism Council (WTTC) – which endorses Dubai's comprehensive and effective measures to ensure guest health and safety.

Health and safety: Keeping the health and wellbeing of its passengers as top priority, Emirates has introduced a comprehensive set of safety measures at every step of the customer journey. The airline has also recently introduced contactless technology and scaled up its digital verification capabilities to provide its customers even more opportunities to utilise the IATA Travel Pass this summer.

Flexibility and Assurance: Emirates continues to lead the industry with innovative products and services that address traveller needs during a dynamic time. Recently, the airline took its customer care initiatives further with even more generous and flexible booking policies, which have been extended to 31 May 2022, an extension of its multi-risk insurance cover, and helping loyal customers retain their miles and tier status.

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National Incubation Center Lahore at LUMS brings Stanford SEED’s SPARK program to Pakistan

National Incubation Center Lahore at LUMS brings Stanford SEED’s SPARK program to Pakistan

Lahore, August 23, 2021: Continuing its mission to empower, enable and facilitate the next generation of problem solvers in Pakistan, National Incubation Center Lahore at LUMS is collaborating with Stanford University’s Graduate School of Business to launch its SPARK program for Pakistani entrepreneurs.

An offering of Stanford SEED, this four-month program is for early-stage entrepreneurs in traction or growth stage and seeks to empower them with practical tools to refine and develop their businesses through an action-based curriculum, networking opportunities with peers, one-on-one mentorship, and live expert-sessions.

Applicants to the SPARK program must meet stringent criteria for entry: they must be working full-time on an incorporated venture; have a Minimum Viable Product or a service with revenues and/or financial transactions related to the business; have a team, website, and professional social media presence; and be proficient in using digital tools and comfortable with e-learning.

“For Pakistan to realize its youth dividend, we must upskill to the highest global standards.  Our youth has abundant potential and just need our help in empowering them with skills, access, and inspiration. This is exactly what we aim for at NIC LUMS and our collaboration with Stanford is yet another way in which we're realizing our mission and enabling world class resources for our aspiring entrepreneurs,” said Saleem Ahmad, Chairman NIC Lahore and Quetta.

The collaboration with Stanford University augments NICL’s goal to incubate a greater percentage of businesses that address a large commercial opportunity and attract significant investment capital. This is achieved through a careful and competitive selection of start-ups by members of NICL’s Foundation Council and Advisory Board, comprising successful entrepreneurs who have themselves raised significant capital for growth, and investors who are currently active in the venture capital space in Pakistan. The cohort is immersed in a rigorous, free-of-cost program delivered by esteemed LUMS faculty and international technical experts; bespoke trainings and experiential workshops; a speaker series dedicated to giving start-ups direct access to highly successful entrepreneurs; and mentorship by local and international industry leaders who collectively provide more than 100 hours of one-on-one guidance. The program culminates at an Investor Summit, where top investors and industry experts interact with the promising start-ups.

The Center is geared to host its upcoming Investor Summit on August 28 and 29, and is initiating its next cohort of entrepreneurs in September.

The Stanford SEED program commences September 7, 2021 and interested applicants may contact via email: niclahore@lums.edu.pk.

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Huawei committed to Spread digital economy in the Arab world

Huawei committed to Spread digital economy in the Arab world

Executive’s comments shared with audiences at 5th China-Arab States Expo

Pakistan: Speaking at the 5th China-Arab States Expo being held this week, Huawei’s Rotating Chairman Mr. Guo Ping has highlighted the decisive role that information and communications technology (ICT) can play as a driver of the Arab world’s socio-economic development, expanding the region’s digital economy.

“The increased presence of digital infrastructure is positively impacting the Arab world,” confirmedGuo. The executive noted that the MENA region is projected by the GSMA to spend USD70 billion in rolling out telecom infrastructure between 2019 and 2025[1]. Meanwhile, embracing technologies such as 5G, AI, cloud, and other fast-developing areas has helped economies in the GCC alone to return to a projected aggregate growth rate of 2.2% in 2021, according to the World Bank[2]. 

“Connectivity and computing are becoming deeply integrated with all industries and are creating new value. The development of advanced ICT solutions is already proving to be an enabler of economic recovery following the challenges posed by the COVID-19 pandemic. New digital applications are also helping to reduce carbon emissions in a variety of industries as per Arab nations’ wider developmental plans. Digital technologies have now become the cornerstone of the intelligent world—and the driver behind its future development in the region,” noted Guo.

In particular, countries in the Arab world have been among the early global adopters of 5G infrastructure. The GCC region especially has been leading the deployment of 5G, as well as other technologies, that will make the Fourth Industrial Revolution possible.According to Guo, adoption of those technologies has significantly changed sectors like education, healthcare, and transportation. These industries are gradually moving towards greater intelligence.

“To this end, Huawei is committed to knowledge exchange with partners across the Arab world, leveraging the latest technologies to contribute to their ambitious national visons. I sincerely hope that industry partners and policymakers in the regioncan collaborate in their efforts to accelerate the deployment of digital infrastructure. Together, we can build a more intelligent, interconnected, and low-carbon world,” Guo concluded.

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Tecno's latest prmium phone Phantom X is available for PreBooking in Pakistan

Tecno's latest prmium phone Phantom X is available for PreBooking in Pakistan

Lahore : TECNO Mobile Pakistan has started pre-booking for its premium smartphone device, Phantom X exclusively on Saamaan.pk. All the customers who prebook the phone will get free Gimbal with it this offer will remain valid from 17th August till 20th August. 

Phantom X will be launched exclusively on Saamaan.pk on 21st of August. It comes at a competitive price of PKR 69,999 with an aesthetically designed glass body, upgraded intelligent operations, advanced security systems, exceptional photography features, and much more with the HiOS 7.6. These features make Phantom X highly stand out among competitors.

Kelvin Zeng, CEO of TECNO Pakistan shared his views

“Phantom X is TECNO’s first premium smartphone with a borderless design which launched globally in June. After the immense appreciation worldwide, we now bring this phone for our customers in Pakistan. Phantom X will bring TECNO fans an opportunity to boost their style and technology gadgetry to a whole new level. Equipped with the latest features, Phantom X is going to be a highly sought phone in the market soon.”

The phone has become the talk of the town with outstanding features at a remarkable flagship price range. So hurry and pre-book your device between August 17 and August 20 from Saamaan.pk.

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realme sold Two Million Devices in Pakistan - and becomes fastest selling brand

realme sold Two Million Devices in Pakistan - and becomes fastest selling brand

In a matter of two years since realme entered Pakistan, the brand has managed to sell two million handsets making it one of the most loved smartphone choices among consumers.

Lahore : Another milestone reached! realme has officially sold TWO MILLION devices in Pakistan in just three years. With these tremendous sales numbers, realme becomes the fastest brand to reach such a huge milestone in such a short time. To celebrate this momentous triumph, realme plans to launch the realme GT Master Edition along with the first-ever laptop called the realme Book and their most powerful C-Series device, realme C25s for customers in Pakistan. 

realme has recently started its official campaign for the latest budget device from the brand, realme C25s. The phone shall soon be launched for the fans to get a hands-on experience of a quality device at a remarkable price. On the other hand, the realme GT Master Edition Series comes as the brand’s latest and most high-end flagship device that is designed by the famous Japanese industrial designer Naoto Fukasawa. Apart from smartphones, realme is bringing an exclusive high-end laptop device for a wider tech experience, the realme Book. Moreover, realme marked three years of success with 100 million global users. 

Jadon Niu, CEO of realme Pakistan expressed his views: “Reaching two million devices in Pakistan seemed like a dream a few years back. But seeing this number now, we have come a long way. Since realme’s start in Pakistan, we have sold the most devices in the shortest time as compared to our competitors – making us the fastest brand in the industry to reach this momentous accomplishment.”

The technology brand, realme pledges to bring the best for its fans. Other than the product launches, it plans a realme  Fan Fest 2021 to go live in August and feature the global How Dare You Be You Campaign. During the Fan Fest, people can get their hands on all the famous realme smartphones and smart AIoT accessories off of Daraz.pk and Saamaan.pk respectively.

So, to all the realme fans out there and the ones who want to try a realme device, watch out for the most happening realme Fan Fest 2021 and multiple product launches coming your way.

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ACSLS Approves Interest Free Loans For Meritorious Students Under Student Loan Scheme

ACSLS Approves Interest Free Loans For Meritorious Students Under Student Loan Scheme

Karachi, August 20, 2021: The Apex Committee for Student Loan Scheme having representation from State Bank of Pakistan, Finance Division (Government of Pakistan) and five major banks (NBP, HBL, UBL, ABL and MCB Bank) has approved Rs 82.6 million as interest-free loans to deserving students for their studies within Pakistan. The amount, approved by Apex Committee, will be disbursed to 518 deserving students of public sector universities across the country, studying in different disciplines of under-graduation, graduation and PhD studies for the Session 2017-18, 2018-19 and 2019-2020.

The objective of the Student Loan Scheme is to provide financial assistance to the meritorious students having insufficient means. The loans are granted for a maximum tenor of 10 years from the date of the disbursement of first installment and repayable in monthly installments after six months from the date of first employment or one year from the date of completion of studies, whichever is earlier. National Bank of Pakistan, being the administrator of the Scheme, performs all the functions like receiving and scrutinizing the loan applications, disbursement of loans and their recovery. The names of successful students are available at the National Bank of Pakistan’s website:

https://www.nbp.com.pk/studentloan/

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Flagship Killer realme GT Master Edition Series Launch Globally, Together with realme’s First Laptop realme Book

Best-designed Flagship Killer realme GT Master Edition Series Launch Globally, Together with realme’s First Laptop realme Book with 2K Display

Karachi / Shenzhen, China – Friday, August 20, 2021: To celebrate 100 million smartphones sold around the world, the fastest growing smartphone brand realme today announced it is expanding into the affordable high-end segment with the release of two new stunning smartphones to its GT series: the realme GT Master Edition and the realme GT Explorer Master Edition. Moreover, realme revealed that it was expanding into the laptop category for the first time with realme Book, a slim, 2K-display laptop forged in the brand’s distinctive design. This marks an important step forward, as realme continues to power forward in building up its 1+5+T AIoT ecosystem with a richer suite of products than ever before.

“Since realme was established, we have never strayed from our mission to bring leap-forward products for global youth,” said Sky Li, CEO and founder of realme. “We’re thrilled to announce that we are bringing more AIoT products to the 100 million realme fans around the world, to empower the young generation with features and experiences that inspire and delight.”

realme GT Master Edition Series: The best-designed flagship of 2021

Fusing design elegance with technical prowess, the realme GT Master Edition Series seeks to elevate the youth’s capacity to explore and create, empowering them with a high-end handset that is as affordable as it is exceptional. 

Inspired by the importance of travel to young people’s lives, realme tapped the renowned industrial designer Naoto Fukasawa to design the GT Master Edition Series. He crafted the products with a unique design influence in mind – suitcases. In addition to its unique shape, the back of the phone is engraved to reflect a suitcase’s undulating grille, being the first concave vegan-leather design in smartphone history.

Inheriting the flagship performance of the realme GT Series, the GT Explorer Master Edition is equipped with a Qualcomm Snapdragon 870 processor with up to 12GB of RAM, while the GT Master Edition uses the Snapdragon 778G 5G processor with up to 8GB of RAM. GT Master Edition Series support Vapor Chamber Cooling System, inherited from the flagship killer realme GT. This enables both phones to easily handle powerful gaming experiences. 

Besides its formidable performance, the realme GT Master Edition Series also features a 32MP Sony selfie camera; meanwhile, the GT Explorer Master Edition features a 50MP Sony IMX766 main camera with OIS while the GT Master Edition comes with a 64MP main camera. Not only do images remain crisp and vivid from day to night, portrait to landscape, but users can enjoy the first-ever street photography mode, bring users with fixed focus and street photography filters, which are only seen on pro street photography DSLR cameras.

Visuals come alive on a stunning 120Hz Samsung AMOLED screen, with a refresh rate of 120Hz on both of the two phones. GT Explorer Master Edition uses a 56-degree curved display, with 10240-level brightness adjustment and HDR10+ support, it also supports Dolby Atmos Dual Speakers and Tactile Engine.

realme Book: The first-ever realme laptop, bringing 2K display and leap-forward performance in a rare price range

As realme’s first laptop, realme Book is encased in a super-slim 14.9mm metal body, available in blue and grey color schemes.

It features a 14-inch 2K full vision display, with 400 nits peak brightness, 3:2 screen ratio compared to the traditional 16:9 screens can show more information in Microsoft Office software.

realme Book is powered by an 11th Gen Intel Core processor, dual-fan Storm Cooling System, that ensures that even commanding games run flawlessly. It provides up to 16GB Dual-channel LPDDR4x RAM, Up to 512GB PCIe® SSD Storage. 65W Super-Fast Charge technology provides up to 11 hours of battery life.

As for connection, one thunderbolt 4/USB 4 ports (i5 version only), one 3.5mm earphones port, one Type-A port, one Type C port, realme Book also supports new Wi-Fi 6 technology.

realme Book features 2 HARMAN speakers, which support DTS HD stereo sound effect, Dual Mic Noise Cancellation, perfect for online working and studying. realme’s “PC Connect” feature also enables users to synch their phones with their laptop and experience the former’s rich applications with ease, making work and study even more convenient. Windows 10 Pre-installed.

The realme book uses a three-level backlit keyboard with a 1.3mm key travel, with 2 in 1 Fingerprint Power Button.

With many AIoT products available already, the realme Book is a significant step forward in expanding its portfolio. Staying true to its slogan “Dare to Leap”, realme is diving into the future with more leap-forward products, and builds up a broader, richer ecosystem of interconnected devices to make everyday life even more vibrant for the young generation.

During the event, realme also announced that its first tablet is launching soon, so stay tuned!

realme Fan Festival 2021 - How Dare You Be You

At the same time, realme also launched its 3rd anniversary party - realme Fan Fest 2021, themed 'How Dare You Be You'. The campaign is a celebration of the restless spirit of those who dare to live their own truths despite the judgements and obstacles they may face. With this powerful statement, realme empowers fans to turn negative external noise into positive empowerment.

realme will also offer 100M dollars for a global promotion to thank all 100 million users worldwide for their support over the past three years.

So stay glued to realme’s official pages and sources for all the fun and launches happening in Pakistan. 

For more information on realme GT Master Edition Series, please refer to https://www.realme.com/global/

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ADB Approves $235 Million Loan to Upgrade Pakistan Highway, Boost Regional Connectivity

ADB Approves $235 Million Loan to Upgrade Pakistan Highway, Boost Regional Connectivity

Manila, August 19, 2021: The Asian Development Bank (ADB) has approved a $235 million loan to further upgrade a national highway in Pakistan that is crucial to regional connectivity and strengthen the government’s operation and maintenance of its national highway network.

The project will expand the 222-kilometer Shikarpur-Rajanpur section of the National Highway 55 (N55) from two lanes into a four-lane carriageway. N55 is part of the Central Asia Regional Economic Cooperation (CAREC) Corridor 5 which links the ports of Karachi and Gwadar in southern Pakistan with national and international economic centers to the north.

“This project will increase the capacity of a busy highway section that passes through populous economic centers in Sindh and Punjab provinces,” said ADB Transport Specialist Rika Idei. “The project addresses key road safety, climate resilience, and gender-specific needs to ensure users can travel safely, smoothly, and comfortably. This will facilitate the regional movement of goods and people, and support Pakistan’s economic recovery from COVID-19.”

The project will construct bus stops, emergency response centers, and traffic police facilities to ensure road safety enforcement and efficient post-crash response. Bus stops and emergency response centers will have gender-separated facilities and rest spaces for various users, including the elderly, women, children, and persons with disabilities.

The project will also help strengthen the capacity of the National Highway Authority (NHA) by supporting a five-year training program which was prepared with assistance from the United States Agency for International Development. The training program will cover road project operation, maintenance, design, and gender concerns and will be implemented from 2021 to 2025.

The loan is the second tranche of a multi-tranche financing facility designed to provide technical and financial assistance to upgrade N55 and enhance the capacity of the NHA. The first tranche of $180 million was approved in September 2017 and financed the improvement of three sections totalling 143 kilometers in Sindh and Khyber Pakhtunkhwa provinces.

Pakistan is a member of the CAREC Program, a partnership of 11 countries to promote economic growth and sustainable development through regional cooperation. It is supported by development partners including ADB, which serves as the secretariat for the CAREC Program. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 from the region.

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Huawei: there is no evidence Huawei ever implanted any backdoor in its products

Huawei: there is no evidence Huawei ever implanted any backdoor in its products

Islamabad: In September 2018, Huawei Pakistan filed for arbitration in District Courts (West), Islamabad against Business Efficiency Solutions (BES) over ongoing contract disputes. This arbitration resulted in an interim relief order in Huawei's favor. The arbitration process is still ongoing.

We do not comment on on-going legal cases. Huawei respects the intellectual property of others, and there is no evidence Huawei ever implanted any backdoor in our products.

A long-running dispute between Huawei Technologies Co. and a small U.S.-based contractor has escalated to U.S. federal court, with the contractor alleging Huawei stole its technology and pressured it to build a “back door” into a sensitive law-enforcement project in Pakistan.

The contractor, Buena Park, Calif.-based Business Efficiency Solutions LLC, or BES, says in a lawsuit filed Wednesday in California district court that Huawei required it to set up a system in China that gives Huawei access to sensitive information about citizens and government officials from a safe-cities surveillance project in Pakistan’s second-largest city of Lahore.

Muhammad Kamran Khan, chief operating officer of the Punjab Safe Cities Authority, which oversees the Lahore project, said the authority has begun looking into BES’s allegations.“Our team is examining the accusations and sought an explanation from Huawei,” Mr. Khan said in an interview. “We have also put a data security check on Huawei after this issue.So far, there has been no evidence of any data stealing by Huawei.”

In comments to The Wall Street Journal last September, Huawei acknowledged setting up a separate version of the Lahore system in China, but said it was only a test version that was “physically isolated from the customer’s live network.” This made it “impossible for Huawei to extract data from the customer’s live network.”

The allegations in the suit stem from a long-running legal dispute between the companies. Huawei hired BES to provide software and other services to help it win the rights to build Lahore’s safe-city project in 2016. It eventually beat out Western competitors including Motorola Solutions and Nokia Corp. with its bid of $150 million, according to the suit, in which BES is represented by lawyers from Akin Gump Strauss Hauer & Feld LLP.

The relationship soured, and Huawei sued BES in Pakistan, where BES also sued Huawei. Those proceedings are ongoing. BES is no longer operational and has no revenue.

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ICT and AAA Associates Launch Monsoon Plantation drive envision of PM Clean Green Pakistan

ICT and AAA Associates Launch Monsoon Plantation drive envision of PM Clean Green Pakistan

Islamabad: AAA Associates, a leading group of companies, strives to partake in the ‘Monsoon Plantation Drive’, envisioned by the Prime Minister Imran Khan this year. AAA launches, ‘Tree Plantation Drive’ by planting 1 lac trees in accordance with the Prime Minister’s call for awareness and action. The organization believes that we need to restore the forest cover to eradicate pollution, fight carbon emissions, prevent flooding and overcome global warming. The campaign begins today, in order to align the efforts with the plantation drive throughout the country, and continues for an extended period of one and a half months with more to come. 

AAA Associates, an organization known for its social responsibility, is highly aware of its due role for the country and the planet and urges everyone to plant trees. It is therefore time to add much needed greens to the needed concrete and foster an understanding of the ecological and economic value of plantation. The tree plantation campaign begins from 16 August 2021 at the site near Simly Dam, Islamabad; gracing the occasion are the honourable Deputy Commissioner Mr. Hamza Shafqaat, Assistant Commissioner Mr. Aneel Saeed, Director General Environment Mr. Irfan Khan Niazi, worthy guests from all walks of life and the esteemed team of AAA Associates. 

On this occasion, Deputy Commission Mr. Hamza Shafqat praised AAA Associates support in this plantation drive and said “it is a good sign that Private corporate entities are supporting PM cause in turning Pakistan Green and environment friendly country. AAA Associate has always been very supportive with district Governments to carryout social uplifting activities within the city whether it is food distribution drive or turning the city green to make it pollution free”.

According to Global Forest Watch, Pakistan has faced 0.99% decrease in tree cover since year 2000 to the year 2020. Due to constant deforestation, Pakistan treads extremely low in tree per head i.e., 5 trees per person in Pakistan versus a global average of 422 trees per head. Pakistan is also in the list of the top six most vulnerable countries affected by Climate Change.

Since the launch of Billion Tree Tsunami (2013) by the Prime Minister, drastic changes in landscape were observed and world recognition has been attained. Pakistan plays a pivotal role in fighting global warming and has been part of many such global initiatives. UN ‘Decade for Ecosystem Restoration 2021 – 2030’ is launched on global scale and tree plantation campaigns by Pakistan are part of it. Significant efforts are being made in order to hamper the adverse effects of only 5% of forest cover in Pakistan as compared to 31% global average. Researchers have concluded that forest restoration can fight climate change, cluster of trees provide carbon sponge for fossil fuel emissions, flood prevention and result in regulated rainfall. Tree plantation campaigns are best foot forward and an important initiative in our region to curb Monsoon variations and floods, as a result of Himalayan Glaciers melting. As we strive for this drive, UN Environment Program declares that Pakistan is ready to lead the way. 

Director Marketing, Usman Iqbal, expressed his views, “AAA is an environmentally responsible organisation, and with our vision to always exceed the expectations of our loyal customers by improving the vicinity they call home. In line with Prime Minister’s vision of Clean and Green Pakistan, we pledge to plant, cultivate, protect and promote trees, advocate public awareness, and take the green graph in upward trend.”

The Chief Strategy and Development Officer, Mr. Farooq Bashir emphasised on the dire necessity of reforestation, “We at AAA realise the need for tree planation drive in response to deforestation and reduced land cover. Through our 1 lac tree plantation drive, we are contributing in protecting and restoring the environment and livelihood of Pakistan, affected by climate shocks. The rehabilitation of degraded land would thus increase our resilience to environmental dilapidation and incessant heat waves. 

We are looking forward to a healthy, prosperous and green Pakistan in coming years.

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Huawei CFO's Extradition Case raises Skepticism among Canadian Judiciary

Huawei CFO's Extradition Case raises Skepticism among Canadian Judiciary

Islamabad: A Canadian judge appeared skeptical of arguments made by prosecutors, questioning the validity of the case in the United States against Huawei Chief Financial Officer Meng Wanzhou, who is facing possible extradition on several charges. Committal hearings in Meng's case are expected to finish soon as two years of legal wrangling come to a close.

The Canadian government's case, as laid out in the record of the case provided by the United States as justification for her arrest and extradition, is that Meng lied to HSBC about Huawei's ownership of an Iran-based subsidiary called Skycom, causing the bank to commit fraud and unknowingly break U.S. sanctions.

Meng's defense lawyers have argued that HSBC was not misled, and was in fact fully aware that Skycom - a business which Reuters reported was breaking U.S. sanction laws against Iran - was a subsidiary of Huawei, rather than a local partner as had been previously stated.

Associate Chief Justice Heather Holmes at times appeared skeptical of the validity of the United States' claim.

"Isn't it unusual that one would see a fraud case with no actual harm, many years later, and one in which the alleged victim - a large institution - appears to have numerous people within the institution who had all the facts that are now said to have been misrepresented?" Holmes asked.

"The law is quite clear about that," Canadian prosecutor Robert Frater responded. "You yourself said that people within the institution may know, they may even be participants. It doesn't mean there is no fraud."

Holmes then said: "I'm simply suggesting that it may be unusual to have both of those features - no actual loss, and arguably, fairly extensive knowledge within the institution about the true state of affairs."

Meng was arrested at Vancouver International Airport in December 2018 on a U.S. warrant, for allegedly misleading HSBC bank about Huawei's business dealings in Iran and potentially causing it to break U.S. economic sanctions against Tehran.

Hearings are set to wrap up and Holmes will likely issue an order on whether or not to extradite in the autumn, before Canadian Justice Minister David Lametti makes the final call. Both Holmes' and Lametti's decisions can be appealed, which legal experts say means the case could drag on for years.

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New dawn for Pakistan: Airlift secures $85m in Series B financing, highest in MENA region to pioneer quick commerce

New dawn for Pakistan: Airlift secures $85m in Series B financing, highest in MENA region to pioneer quick commerce

Lahore (August 18, 2021): Airlift Technologies, a pioneer in the recent wave of technology businesses, was started in Pakistan, built by local entrepreneurs and for local populations. Today, Airlift is announcing an $85 Million Series B financing led by some of the most iconic investors on the globe. Airlift's $85m Series B financing marks the largest in the MENA region, co-led by Josh Buckley (Buckley Ventures) and Harry Stebbings (20VC). Other major participants included Sam Altman (ex-President YCombinator), Biz Stone (Co-founder at Twitter / Medium), Jeffrey Katzenberg (ex-CEO, Disney), Taavet Hinrikus (Founder/CEO at TransferWise), and Seve Pagliuca (Co-Chairman, Bain Capital).

The financing is about twice the size of the largest private company IPO in Pakistan’s history and the highest in the MENA region, bringing a number of implications for the country:

A new dawn for Pakistan - Airlift has set a new precedent that will bring world-class

investors to invest in Pakistan. It will garner confidence that great technology and consumer

products can be built in Pakistan, and that this region of the world has some of the best

talents. Airlift Express alone with its series B funding of $85 Million has added 5% to

Pakistan’s FDI for the Fiscal year 2021. This financing round lays the foundations of a new

dawn in Pakistan where technology startups alone can contribute to more than 10% of FDI

in the upcoming years.

The Airlift Mission - The team at Airlift is on a mission to enable self-empowerment in the

region by reducing individual dependency on others through safe, reliable, and affordable

logistics solutions. Airlift is building a platform for consumers, drivers, and small business

owners to move consumer goods. With an agile supply chain, Airlift is best positioned to

succeed and eventually create thousands of jobs within Pakistan. Airlift is on a mission to

create 200,000 jobs in Pakistan within the next five years.

Pakistan's diverse talent base puts Pakistan on the global map - The team at Airlift is a

true representation of the potential that resides within the country. The team is an

embodiment of relentlessness, hustle, and extreme ownership, which has built one of

Pakistan's largest technology companies. This financing puts Pakistan on the global

roadmap for technology entrepreneurship.

Usman Gul, Co-Founder and CEO of Airlift said, “A year ago, Airlift halted operations on the transit service and diversified into last-mile grocery delivery. Today, our team closed $85m in Series B financing to scale our delivery platform across continents. With this financing, we as Pakistanis must return to where we started from -- fighting against the odds and staying true to our core values of hustle, teamwork, resourcefulness, and bias to action. If this is the journey of a thousand miles, we have taken only the first step.”

With the Series B funding, Airlift today, as a Pakistani-born startup is committed more than ever to revolutionize the retail industry by leveraging technology, and empower millions of people!

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