EBM & SoL inspire youth with 100 “Leaders of Change” Stories at 22nd Young Leaders Conference

KARACHI: English Biscuit Manufacturers (EBM) brought together future leaders for the 22nd time with the Young Leaders Conference (YLC). This edition marks EBM’s decades-long commitment to the School of Leadership (SoL) as the founding partner to empower the young leaders of Pakistan.

The 22nd Edition of YLC holds a special significance to EBM, as it saw the launch of  100 “Leaders of Change” Stories, with an emotionally charged exhibit of the transformative journeys of YLC alumni. The impactful showreel highlighted authentic anecdotes of individuals from previous YLCs, their inspiring journeys and their impact, serving as a reminder of the conference's enduring influence. 

In the current testing times, where everyone is uncertain about the foreseeable future, EBM hopes that these stories serve as a beacon of hope and highlight the transformative power of leadership, perseverance and hard work.

The event was graced by the presence of esteemed dignitaries, including Kamran Rizvi, Founder of the School of Leadership, and Shahzain Munir, Executive Director EBM along with YLC alumni and notable industry representatives.

Speaking at the inaugural session, Shahzain Munir, Executive Director of EBM, said, "Through 22 years of collaboration with the School of Leadership, we have witnessed the remarkable impact of the YLC on the lives of over 6,500 individuals across Pakistan. Our commitment to social integration, inclusivity, personal growth, and education remains unwavering. In current times, Pakistan needs leaders at all levels. The launch of these 100 stories of our Leaders of Change - who are actively creating ripples with their impact in communities and cities - will inspire our youth to take ownership of their lives and leadership journeys.”

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PAYPAL’S $19 BILLION GAMBLE: SHARE REPURCHASES AND ACQUISITIONS SINCE GOING PUBLIC

 Since going public in 2015, PayPal has embarked on a significant financial journey, allocating a substantial portion of its resources toward share repurchases and acquisitions. While these strategies may have their merits, they have not come without their share of challenges and debates among shareholders. In this report, we delve into PayPal’s spending patterns, the impact on shareholders, and the evolving landscape of the company’s financial decisions.

One of the most notable aspects of PayPal’s financial strategy since its initial public offering in 2015 has been its substantial investment in share repurchases. Over the years, PayPal has spent nearly two-thirds of its cash flow on buying back its own shares. The idea behind share repurchases is simple: by reducing the number of outstanding shares, each remaining share represents a larger stake in the company, potentially increasing their value.

However, the effectiveness of this strategy in delivering value to shareholders has been a topic of debate. While it can lead to short-term stock price increases, it does not necessarily guarantee long-term sustainable growth. Share repurchases, when executed excessively, can be seen as a sign that a company lacks better investment opportunities or is trying to artificially inflate its stock price.

Year-by-Year Breakdown

To better understand PayPal’s expenditure on share repurchases, let’s examine the year-by-year breakdown. Since going public, PayPal has consistently allocated a substantial portion of its cash flow to repurchasing shares. Notably, in 2023, the company plans to spend about $2 billion more on share repurchases, making it the largest year ever in this regard, totaling $5 billion for the year.

Cumulative Spending and Cash Flow

The sheer magnitude of PayPal’s share repurchases, amounting to $19.1 billion, prompts the question: Is this a reasonable allocation of capital for a company of PayPal’s stature? To assess this, we must consider PayPal’s free cash flow. From 2015 through the second quarter of 2023, the company generated nearly $30.9 billion in cumulative free cash flow. Therefore, the $19.1 billion spent on share repurchases represents a substantial portion of the company’s cash flow, underscoring the scale of this financial commitment.

Beyond Share Repurchases: Acquisitions

Share repurchases, however, are not the sole focus of PayPal’s capital allocation. The company has also made significant investments in acquiring other businesses. These acquisitions are a testament to PayPal’s strategy of expanding its ecosystem and diversifying its services. Yet, the returns on these acquisitions have been a subject of scrutiny, with some questioned for their value and alignment with PayPal’s core business.

Conclusion

In conclusion, PayPal’s financial decisions since going public in 2015 have centered around share repurchases and acquisitions. While share repurchases can enhance shareholder value in the short term, their long-term benefits remain a subject of debate. Additionally, the massive scale of PayPal’s share repurchases relative to its free cash flow raises questions about the company’s capital allocation strategy.

Moving forward, PayPal’s management faces the challenge of striking a balance between rewarding shareholders in the present and investing in opportunities that ensure sustainable growth in the future. As the company continues to evolve, shareholders will closely monitor these financial decisions and their impact on PayPal’s long-term performance in the competitive fintech landscape.

PayPal’s allocation of $19.1 billion into share repurchases since going public reflects a commitment to returning value to its shareholders. However, it also highlights the potential need for diversification in capital allocation to maximize long-term growth and innovation. As the company prepares to spend a record-breaking $5 billion on share repurchases in 2023, there is increasing pressure to demonstrate the strategic value of these investments.

 

Furthermore, PayPal’s acquisition strategy, while aimed at expanding its services and market reach, necessitates rigorous evaluation to ensure that the returns on these investments align with the company’s long-term vision. The evolving landscape of fintech demands careful consideration of how capital is deployed to sustain PayPal’s competitive edge and deliver sustainable returns to its shareholders.

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Financial Infrastructure Fintech Stripe Introduces Major Upgrades to Enhance Checkout Processes

Financial Infrastructure Fintech Stripe Introduces Major Upgrades to Enhance Checkout Processes

Stripe, a financial infrastructure platform for businesses, added new features to its optimized checkout suite to help users increase their revenue by making it easier for their customers to complete a purchase.

The optimized checkout suite consolidates years of Stripe research into “a set of products, tools, and features that businesses can integrate into their customer journey with minimal engineering effort.”

Today’s upgrades—which constitute the single largest bundle of new payments optimizations from Stripe to date—”offer vastly more payment method choice for consumers, an easy way for businesses to support the top one-click checkouts, and the industry’s first no-code A/B testing tool for businesses to evaluate how different payment methods perform.”

The optimized checkout suite allows businesses “to offer their customers a superb checkout experience without having to build it themselves.”

It combines pre-built UIs with accelerated checkout options, “a wide range of payment methods, and controls that allow businesses and platforms to quickly fine-tune the checkout experience for their customers.”

New features of the optimized checkout suite include:

• Access to more than 100 payment methods, now including RevolutPay, Mobile Pay, US bank transfers, and Swish. Additionally, the optimized checkout suite dynamically presents customers with the most relevant payment methods from among more than 40 options, using algorithms trained on billions of data points. For example, the Payment Element suggests Cartes Bancaires to Parisians buying goods in Japan, but Konbini to Tokyoites buying locally.
• An A/B testing tool that allows businesses to rigorously identify the best-performing payment methods in their checkout and make data-driven improvements over time. Creator platform Thinkific found through an A/B test that offering buy now, pay later increased average order value by 36%. This is a first-of-its-kind feature: Stripe is the only payments platform to offer a no-code A/B testing tool for payment methods.
• The Express Checkout Element, which allows users to display multiple one-click payment buttons (such as Apple Pay, Google Pay, or Link) with a single component. Payment methods are dynamically presented in the order most relevant to a customer, showing only the ones supported by the device or the browser a customer is using. Research shows that businesses with Link enabled see a meaningful boost in conversion.
• Multi-channel fashion retailer River Island adopted the optimized checkout suite in order to help modernize its fragmented payments system and display the most relevant payment methods for customers around the globe. Soon after implementation, River Island saw a 3% improvement in its credit card authorization rates, and anticipates significant revenue gains this coming year.

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Square Unveils Over a Dozen New Features to Help Businesses Win this Holiday Season

 Square Unveils Over a Dozen New Features to Help Businesses Win this Holiday Season

Square announced a new suite of solutions designed to give sellers a competitive edge this holiday selling period. With new features including Square Online’s Themes and Square for Retail’s AI-generated product descriptions, Square sellers can now further enhance their customer engagement across more channels and access additional automated tools to set them up for a successful holiday sales season.

“With Square Online’s latest features, I have been able to customize my site with my brand’s fonts, colors, and high-res photos of our pastries. When customers come into the store and they experience this magical wonderland with purple walls, all of this is also echoed on our website”

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To supercharge sellers’ online presence, Square is introducing Themes, a pre-built set of 19 high-quality site design templates for Square Online. Combined with additional customizable features such as colors, fonts, layouts, and buttons, sellers can create nearly infinite combinations of designs to make a unique and on brand website. Whether a retailer, restaurant, or beauty and personal care service, sellers and agency partners can select a theme that best fits their business to quickly get a website up and running, while also having the flexibility to personalize their site for a professional look that elevates the customer experience. Nearly a quarter¹ of consumers refuse to shop from a business without an online presence, making it crucial for sellers to bring their brands to life in an authentic and engaging way. Additional new features from Square Online offer even deeper customization to give sellers more control and flexibility to change their site design to match their brand aesthetic, including ‘Shop All’ pages; product detail pages; mega menus for larger catalogs; visually-engaging scrolling marquees and embedded native videos; and customizable buttons, custom fonts, and icon sets.

“With Square Online’s latest features, I have been able to customize my site with my brand’s fonts, colors, and high-res photos of our pastries. When customers come into the store and they experience this magical wonderland with purple walls, all of this is also echoed on our website,” said Kyra Bussanich, Founder of Kyra's Bake Shop in Lake Oswego, Oregon. “I am not a web designer, I am an entrepreneur and a pastry chef, and Square Online is so easy to use, functional, and design-forward. It's automatically optimized for mobile which is how so many of my customers access my site, and on top of that, our sales numbers doubled when we switched to Square Online.”

Additionally, Square is putting generative AI into the hands of retailers ahead of the holidays. Automatically generated descriptions help retailers write compelling titles and descriptions for new products, which appear across all sales channels at once. For sellers with large catalogs, this automated feature removes the manual back-end work required to describe and list each item for sale – ultimately improving operational efficiency and giving sellers time back to focus on other tasks.

"Square's auto generated product descriptions feature has completely transformed my business. Typically, it is a manual and time-consuming process to write compelling descriptions, especially when we have more than 30 new items coming in every day. The more I use this feature, the more the descriptions have evolved to become specifically tailored for my business. We're already expanding our inventory for the upcoming holiday rush, and now I have the ability to draft far more engaging content for my customers in half the time,” said Randy Fulk, Co-Founder of Korie's Kloset.

Inventory Solutions to Keep Operations Organized and Never Miss a Sale

As sellers prepare to introduce seasonal inventory, Square for Retail is launching additional new features designed to streamline inventory management – thus saving precious time for sellers.

• Sellers can now simplify their inventory by easily archiving old items, ensuring their assortment is organized ahead of the holidays and updated with ready-to-sell seasonal products.
• Previously available only through Dashboard, Square for Retail is enabling barcode label printing from the Point of Sale and embedding the functionality deeper into operational workflows like purchase orders and inventory receipt to make it easier for sellers and their teams to prepare their products for sale.

Fulfillment Tools That Make Gift Giving (and Getting) Faster

The holidays are a particularly demanding time among consumers as they look to receive packages in a timely manner, with Square tracking over 6 million² packages shipped out by sellers last season. With efficiency and speed top of mind for retailers this season, Square has introduced a lineup of enhanced fulfillment management tools, enabling retailers to operate at max efficiency and deliver omnichannel orders at scale.

• The new Shipments Page will streamline omnichannel order fulfillment, enabling sellers to centralize their shipping tasks at scale for in-store orders, Square Online purchases, and Square Subscriptions – all from a single place within their Square Dashboard.
• A new integration with Shippo further reduces the complexity of order fulfillment and empowers sellers to optimize their margins and grow their shipping operations.
• Enhancements to Square for Retail’s checkout interface can help sellers increase their service speed to customers by integrating multiple fulfillment options – such as in-person sales, ‘Buy Online Pick Up In-Store’, shipment, and more – spanning across locations and auto calculating taxes based on order shipping destinations.

Maximizing Customer Engagement and Retention Through the Holidays and Beyond

To cut through the competition during the holidays, Square has also rolled out new customer engagement features dedicated to expanding consumer touchpoints for sellers.

• In preparation for the comeback of more in-person holiday events, Square is introducing House Accounts, a deferred payment account that business regulars and corporate clients can easily charge purchases to. When a seller is ready to settle up, they can quickly create an invoice for the outstanding balance and receive payment online via credit card, ACH payment, or Card on File.
• To maximize brand reach and customer touchpoints, sellers using Square’s Text Message Marketing can now include images and GIFs to engage with customers who prefer to shop or receive messages through their mobile devices.
• When it comes to gift buying, Square has also made it as easy as possible for businesses to drive revenue. With Retail Bundles, sellers can offer multiple items into a single holiday gift basket, enabling customers to easily purchase relevant items focused on a common theme – all while ensuring accurate inventory counts across locations and channels for sellers.
• Besides physical products, sellers can now offer Group eGift Cards, making it easier for individuals to contribute to a group present while increasing value loads. Sellers simply offer the option on their gift card page and buyers will receive a link that can be shared to contributors.

“Retailers choose Square because our technology helps automate critical operations within their businesses, and scales with them as they grow,” said Roshan Jhunja, Head of Retail at Square. “As their needs become more sophisticated, they can tap further into Square’s fully integrated ecosystem of tools. We remain focused on providing sellers with the technology they need to unlock new growth channels and maximize their sales during the holidays and beyond.”

For more information on Square’s integrated ecosystem of commerce products, visit squareup.com.

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inDrive Accelerates Growth, Expanding to Five New Cities in Pakistan

Pakistan’s No.1 ride-hailing company, inDrive, has now reached to small cities in Pakistan, adding five more jewels to its crown

 

Karachi:  In a move set to redefine the transportation landscape, inDrive, Pakistan's leading ride-hailing service, is thrilled to announce its expansion into five new cities, including Larkana, Kāmoke, Sheikhupura, Hafizabad, and Okara. This strategic expansion is a testament to inDrive's commitment to providing seamless, convenient, and reliable mobility solutions to an even broader audience across the country.

 

With this expansion, inDrive is poised to transform the way residents of these cities travel, work, and explore. The inclusion of Larkana, Kāmoke, Sheikhupura, Hafizabad, and Okara in the inDrive network reflects the company's dedication to bringing innovative transportation options to both urban centers and suburban areas. The launch of inDrive in these cities marks a significant milestone, further solidifying the company's position as the go-to choice for modern, efficient, and budget-friendly mobility.

 

"We are excited to extend the convenience and reliability of inDrive to residents of Larkana, Kāmoke, Sheikhupura, Hafizabad, and Okara," said Mr.Hasan Qureshi, Senior Business Representative at inDrive. "Our mission is to redefine transportation by providing safe, affordable, and accessible rides to everyone. With this expansion, we are not only enhancing the commuting experience, but also contributing to the economic growth and empowerment of these communities."

 

“Our new service offers city residents the convenience of accessing transport from their homes, eliminating the need to venture out in search of it. Both drivers and passengers stand to gain significant benefits, including time saved and the elimination of challenges associated with street hailing. This service addresses issues such as locating rides during odd hours like early mornings or late nights,” stated Sidra Kiran - PR Manager inDrive. She further added, “inDrive ride-hailing presents numerous benefits to drivers in small cities, including flexible opportunities, reduced unemployment, supplemental income, enhanced community connection, and positive contributions to the local economy.”

 

The launch of inDrive in these cities brings a range of benefits to both riders and driver-partners. Residents will enjoy the ease of booking rides through the user-friendly inDrive app, with access to a fleet of vehicles driven by registered drivers. Drivers, in turn, will have the opportunity to tap into a reliable source of income and flexible working hours through the platform, contributing to their financial independence. Now, drivers do not need to spend their time driving around the streets waiting for orders and burning their fuel. Instead, they can accept offers or negotiate the price for the ride through the inDrive app in one click.

 

As inDrive expands its footprint, the company remains committed to upholding the highest standards of safety, affordability, customer service, and technological innovation. This expansion follows inDrive's mission to connect people and places, while also contributing to the growth and development of the people in the region.

 

inDrive is Pakistan's premier ride-hailing service, and is revolutionizing the way people travel. With a commitment to providing safe, affordable, and reliable transportation, inDrive offers a seamless experience through its user-friendly app, connecting riders with the drivers nearby. With its expansion into Larkana, Kāmoke, Sheikhupura, Hafizabad, and Okara, inDrive is set to bring its exceptional service to even more communities, enhancing mobility and empowering individuals across Pakistan.

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Taurus World Stunt Awards Recognize MULA JATT’s Outstanding Final Fight Scene

Moment of Pride for Pakistani Cinema: Nominated for Taurus World Stunt Awards 

 

Los Angeles – In a historic moment for Pakistani cinema, it stands shoulder-to-shoulder with global counterparts, securing a nomination in the prestigious Taurus World Stunt Awards. The heart-pounding final fight scene featuring Maula and Noori has earned a nomination in the highly competitive ‘Best Fight’ category, with stunts brilliantly coordinated by the renowned Ian Van Temperley. This category includes heavyweight contenders such as the multiple Oscar-winning film ‘Everything Everywhere All At Once’ and ‘The Gray Man,’ among others.

 

The Taurus World Stunt Awards, an annual ceremony that celebrates the outstanding achievements of stunt performers in the film industry, is held midyear in the vibrant city of Los Angeles. Since its inception in 2001, the awards have become a hallmark of excellence in the world of stunts. The esteemed deciding committee, established in 2000, continues to uphold the highest standards of recognition. The visionary behind these awards, Dietrich Mateschitz, the founder of Red Bull, envisioned a platform to honor the unsung heroes of cinema.

 

Past winners in this esteemed category read like a who’s who of Hollywood blockbusters, including titles such as ‘Once Upon a Time in Hollywood,’ ‘Kingsman,’ ‘Fast & Furious 6,’ ‘Inception,’ and ‘The Avengers,’ to name just a few. Now, Pakistani cinema proudly joins this illustrious lineage with its nomination, marking a significant leap forward in global recognition.

 

After 48 weeks since its release, the film continues to run in major Pakistani cinemas and has gained international recognition. The director of the film, Bilal Lashari, recently won the 'Best Filmmaker' award for 'The Legend of Maula Jatt' at the Bollywood Film Festival Norway.

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Finance Minister launches “Centralized Gateway Platform” developed by CDC under the regulatory impetus by SECP

Karachi: As a unique initiative in Pakistan’s financial landscape, “The Centralized Gateway Portal” has been formally inaugurated by the Federal Minister for Finance—Dr. Shamshad Akhtar and Honorable Chairman SECP—Mr. Akif Saeed in a launch ceremony at CDC House, Karachi, on the 21st of September 2023. The solution has been implemented by CDC with the support of other entities, including PSX, NCCPL, MUFAP, IAP and PSBA.

 

The platform is envisioned to greatly help financial institutions by reducing the costs and complexities associated with onboarding their clients. CGP’s features include state-of-the-art tools for KYC/CDD and a uniform, synchronized and latest KYC and AML framework with AI based algorithms. It will provide financial service providers with the indicative risk rating to help them in making informed decisions. The CGP will function as a centralized repository for all data and documents, and eliminate the requirement for Financial Institutions to retain the documents with them, thereby reducing their storage requirements.

While officiating the event, Honorable Federal Minister for Finance & Revenue—Dr. Shamshad Akhtar said, “The Centralized Gateway Platform, which has been implemented as a centralized investor on-boarding platform, is a very important and timely initiative by SECP and very well executed by CDC. It is very important for our economy that we should introduce such novel concepts which will promote the investment culture in Pakistan and provide an easy and standardized platform to enable the investors to make hassle-free on-boarding in their respective investment journeys, while eliminating cumbersome and repetitive processes.”

 

While addressing the occasion, Mr. Akif Saeed—Chairman SECP said, “It is indeed a very important milestone for the Pakistan’s financial landscape to have a consolidated on-boarding platform. The solution is a technology-based enabler that, along with investor education and awareness and independent securities advisors, should increase the depth and breadth of our market. Once successfully implemented, it can be expanded to the entire financial sector. Capital market infrastructure institutions like CDC, NCCPL & PSX need to focus on initiatives that make our market transparent, vibrant and robust.”

 

Mr. Moin Fudda, Chairman of CDC’s Board of Directors, welcomed the guests. At the occasion, while describing the objectives of the platform, Mr. Badiuddin Akber—CEO CDC said, “In line with international best practices, the Centralized Gateway Platform has been developed by CDC with the vision to effect ease of doing business and promote the investment culture by leveraging a centralized source of information, screening and subsequent profile updates. CDC will continue to play its role as an ENABLER and is committed towards providing innovative tech-based platforms to Pakistan’s financial landscape, through which all stakeholders can leverage CDC’s technological edge to scale their efficiency and outreach.”

 

The event was also attended by significant stakeholders of Pakistan’s financial eco-system, all of whom lauded CDC’s efforts in undertaking this initiative and playing its role for market development. 

 

With the objective of making investment easier and more accessible for investors in multiple types of assets, CDC has successfully implemented a Centralized Gateway Platform (CGP) under the regulatory impetus of the Securities Exchange Commission of Pakistan (SECP). 

 

The CGP solution will help investors in on-boarding for diverse investment avenues (such as stocks, mutual funds, insurance products, etc.) using a centralized platform wherein they can maintain a standardized profile, KYC/AML procedures and leverage the platform to proceed for investment in diverse asset classes without having to undergo repetitive on-boarding processes with each financial institution. 

 

Even for any subsequent updates, investors will only update their CGP profile, and CGP will accordingly update all relevant Financial Institutions, thus minimizing investor’s efforts while ensuring synchronization of information in a seamless manner.

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Ufone 4G & JoChaho join forces to transform online shopping experience in Pakistan

Islamabad: Pakistani telecom operator, Ufone 4G has joined forces with JoChaho, a leading e-commerce mobile application, to revolutionize the online shopping experience for millions of customers across the country. The partnership is in line with Ufone 4G’s sustained commitment to enable customers and transform user journeys to the realm of digital technology and innovation. 

JoChaho is an innovative and trusted marketplace that has been serving Pakistan’s e-commerce sector by offering unbeatable deals on a wide array of product categories, ranging from cutting-edge electronic devices to essential home appliances. Users can now enjoy a flat 10% discount on a vast selection of products available on JoChaho. Unlike other offers that restrict discounts to specific product categories, this unique offer covers an extensive range of items, ensuring that the needs and preferences of Ufone 4G users are carefully catered to.

Commenting on the collaboration, Group Vice President, Commercial Strategy, Pricing & Geo-Marketing, PTCL & Ufone 4G, Sajid Munir said, “This partnership is a testament to Ufone 4G and JoChaho’s shared commitment to innovation, quality, and customer satisfaction. Together, we are creating a shopping ecosystem that is not only convenient but also highly rewarding. e-commerce revolutionized shopping experiences by providing exceptional ease and convenience. It’s contributions to the economy and social mobility are also significant. Ufone 4G and JoChaho aim to contribute to the growth of e-commerce by boosting the sector’s credibility and trustworthiness through efficient service delivery and product quality.” 

JoChaho CEO, Zhao Liang said, “e-Commerce is a challenging business model as we continue to face new challenges every day. The pace and scale of change are unprecedented. Our vision is to become customer’s No.1 choice in terms of consumer electronics. Our goal is to provide a seamless buying experience to our valued Ufone 4G customers by offering them great discounts on various products leading to a vast and loyal customer base.” 

The collaboration between Ufone 4G and JoChaho provides customers with an incredible opportunity to shop smarter and save hard-earned money. 

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Pakistan Cricket Board Reveals 15-Member ICC World Cup 2023 Squad

The long-awaited moment has arrived as the Pakistan Cricket Board (PCB) finally unveils the highly-anticipated 15-member squad that will represent Pakistan in the forthcoming ICC World Cup 2023. The announcement of this squad, which had been eagerly awaited by cricket enthusiasts, encountered unexpected delays due to extensive consultations within the team management.

Highlights of Pakistan's ICC World Cup 2023 Squad:

Leadership: The team will be led by the capable Babar Azam as captain, whose track record in international cricket demonstrates his leadership prowess.

Inclusion of Emerging Talents: The squad includes emerging talents such as Abdullah Shafiq, Iftikhar Ahmed, and Saud Shakeel, reflecting the management's focus on nurturing promising cricketers.

Experienced Core: Complementing the emerging talents are experienced players like Shadab Khan, Fakhar Zaman, and Haris Rauf, adding depth and maturity to the team.

All-Round Prowess: The squad boasts all-round capabilities with Mohammad Nawaz and Mohammad Wasim Jr., providing versatility in both batting and bowling.

Wicketkeeping Expertise: Mohammad Rizwan takes on the pivotal role of wicketkeeper, offering stability behind the stumps.

Reserve Strength: To bolster the squad's depth, reserve players Mohammad Haris, Zaman Khan, and Abrar Ahmed have been named as backups.

The extensive consultations undertaken by the team management were prompted by Pakistan's disappointing exit from the Asia Cup and injuries sustained by key bowlers during the tournament. These setbacks led to a comprehensive review of Pakistan's cricketing strategies, ultimately influencing the squad selection.

With the ICC World Cup 2023 on the horizon, the chosen players have been preparing rigorously to represent Pakistan with determination and pride. The tournament promises to deliver exhilarating cricketing action, and cricket fans worldwide eagerly anticipate Pakistan's journey as they aspire to clinch the coveted title.

Upcoming Tournament Details:

Event: ICC Cricket World Cup 2023

Dates: 5 October to November

Venue: India

The cricketing community is gearing up to rally behind Pakistan's team, supporting them with unwavering enthusiasm and optimism as they aim to leave their mark on the ICC World Cup 2023.

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Mastercard Launches Classic and Platinum Debit Cards in Partnership with Amal Bank

This will grant Amal Bank’s customers access to MasterCard’s global payment services, along with the bank’s enhanced service availability and convenience.

Customers will be able to leverage Mastercard’s global footprint and Amal Bank’s National footprint.

Somalia: Mastercard is launching Classic and Platinum Debit Cards in partnership with Amal Bank, one of the largest banks in Somalia in terms of its branch network and customers. This partnership will grant consumers greater accessibility to Mastercard’s global services, and Amal Bank’s local availability and services.

As leaders in technology and payment services, Mastercard and Amal Bank’s joint offering will strengthen their value proposition for customers in Somalia. With the new joint Classic and Platinum Debit Cards, consumers will be able to make global transactions, enjoy the freedom of easier, safer, and more convenient banking services, and have greater access to the global marketplace.

“Our partnership with Mastercard is a proud moment not only for Amal Bank, but we know that it will also bring many Somalian consumers into the digital fold. This forms part of our strategy to serve both the banked and the underbanked within Somalia, offering them access to safer, easier, and more convenient payment offerings,” says Said Ali Shire, CEO of Amal Bank. “Get it at your local branch, enjoy globally.”

Available to Classic and Platinum Debit Card holders, the Amal Bank card can be used across POS (Point of Sale) and ATM (Automated Teller Machine) terminals in Somalia, when travelling outside of the country, and on eCommerce sites. To apply for an Amal Bank card, consumers can visit their nearest branch, along with proof of identity. Priceless services and experiences include airline, hotel and travel discount and access to a suite of airport lounges are amongst the benefits for the Platinum Debit card holders.

The new suite of cards will include contactless payment, ensuring a fast and secure checkout experience, whilst also empowering consumers to choose how they want to pay.

 “Mastercard is committed to driving financial inclusion and providing digital solutions that help customers make secure and seamless transactions. By providing consumers with access to safe and convenient payment solutions such as this, we believe that this partnership will help drive economic growth and improve the lives of millions of Somalians,” says Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard. “We are proud to collaborate with Amal Bank to enhance the drive to access financial services, enabling more people to enter the digital economy, and as a leader in the payments technology industry, we will continue to provide our customers with the best solutions and experiences,” adds Ali.

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Empowering Pakistan’s Youth: British High Commissioner Emphasizes Role in Tackling Climate Change

ISLAMABAD: British High Commissioner to Pakistan, Jane Marriott, highlighted the crucial role of empowering Pakistan’s youth in addressing contemporary challenges, with a particular focus on climate change. Her remarks were made during an event organized by Voluntary Service Overseas (VSO) in commemoration of ‘International Youth Day’ held in Islamabad.

Marriott emphasized the importance of nurturing Pakistan’s dynamic youth, acknowledging their accomplishments, and stressing the significance of providing every child with a quality education. She noted that today’s celebration by VSO served as a tribute to the achievements of Pakistan’s vibrant youth.

The Country Representative of VSO, Seher Afsheen, shed light on the organization’s objectives, emphasizing the need to formalize and enhance the existing Volunteer Policy. Afsheen also expressed gratitude for the invaluable support provided by the United Kingdom.

She underscored that education plays a vital role in empowering young people to contribute to the nation’s development prospects.

VSO, as the world’s leading international development charity, operates through volunteers to create a fair world for everyone. Having worked in Pakistan since 1987, VSO has engaged the skills and expertise of over 300 international volunteers and more than 3,000 national and community volunteers over three decades. Their work spans various areas, including livelihood, education, participation, governance, resilience, and youth initiatives, contributing significantly to Pakistan’s progress and development.

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Mastercard and Bahrain Institute of Banking and Finance collaborate to boost financial inclusion

Manama, Bahrain: Mastercard has joined forces with the Bahrain Institute of Banking and Finance (BIBF), a renowned training and development organization, to drive financial inclusion in Bahrain and the wider region. Under the multi-faceted partnership, the BIBF will work with Mastercard Academy, a leading provider of world-class training solutions in the payments space, to design and deliver customized and scalable digital and physical learning courses.

The two parties will also explore opportunities to support relevant industry events by providing subject matter expert speakers and panelists with the aim of showcasing their thought leadership. In addition, Mastercard will leverage its resources, assets and partners to assist the BIBF in engaging Bahrain’s community with a focus on several target segments, such as students and entrepreneurs.

“In line with its dedication to excellence, the BIBF is keen to build synergies with leading organizations around the world to expand its learning offerings across all major business disciplines and strengthen its capabilities to develop human capital. Our latest collaboration with Mastercard will go a long way in helping us achieve our ambition of becoming the global partner of choice for professional education in the payments industry. We look forward to benefiting from the company’s rich know-how in this field,” said Dr. Ahmed AlShaikh, CEO, BIBF.

Since its inception in 1981, the BIBF has grown from training 450 applicants a year, primarily within the banking industry, to 20,000 participants from all sectors of the economy. The institute has qualified over 360,000 learners in the last four decades.

“At Mastercard, we are committed to contributing to the growth of Bahrain’s digital economy. With its decades-long legacy and a strong footprint across the local landscape and beyond, BIBF is our ideal partner in boosting financial inclusion in the country and the wider region. Through our collaboration, we seek to leverage our expertise and market knowledge to provide comprehensive financial education that will enhance financial inclusion and unlock greater prosperity for individuals and businesses,” said Driss Belemlih, Executive Vice President & Customer Delivery Lead, EEMEA, Mastercard.

The BIBF’s Acting Head of Banking & Finance, Bassam Kazerooni also stated, “The Financial industry is evolving at a rapid speed; demand for sustainable and socially responsible practices and business is rising on both an individual and an institutional level. As the training arm of the Central Bank of Bahrain, the BIBF is committed to developing human capital in Bahrain and the region, in the area of sustainable finance as an instrument to achieving the Kingdom’s vision to ensure the sustainability of the overall development process in many fields.”

With access to over 200 experts from across Mastercard’s global network, Mastercard Academy provides the company’s customers and partners with professional insights, skills and knowledge. Its faculty possesses unparalleled knowledge of the latest trends in the payments industry.

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Mastercard and Fintech Saudi partner to accelerate the digital transformation of the fintech industry in the Kingdom

Riyadh, Kingdom of Saudi Arabia: Mastercard and Fintech Saudi have announced the signing of a memorandum of understanding during Seamless Saudi Arabia 2023 to advance the growth and development of the Saudi Arabia fintech industry. The announcement marks another step towards powering an inclusive digital economy and advancing entrepreneurship in Saudi Arabia.

In line with Saudi Arabia’s Vision 2030 objectives and ongoing efforts to create a thriving Small and Midsize Enterprise (SME) sector, the partnership has been launched to create an enabling environment for the Kingdom’s burgeoning fintech community to grow and fulfil its potential.

Utilizing Mastercard’s expertise, advisory and solutions, fintechs across the country will be supported to scale and grow their businesses, taking advantage of new opportunities. Ultimately, the Mastercard and Fintech Saudi partnership aims to facilitate meaningful collaboration and bolster the Kingdom’s rapidly growing fintech space by accelerating its digital transformation and empowering homegrown and Saudi-based entities to go to market faster.

“Our strategic cooperation with Mastercard reiterates our commitment to fostering innovation and expansion in the fintech industry. We can help fintech companies to develop innovative payment methods and digital services that enhance the rapidly expanding sector in the Kingdom by utilizing Mastercard's knowledge and network. In line with the Kingdom's Vision 2030, our partnership with Mastercard is another milestone that recognizes the immense potential of Saudi Arabia's fintech industry. Together, we will foster innovation, expertise and resources needed to foster financial growth and economic prosperity.” said Nezar A. Alhaidar – Managing Director, Fintech Saudi

“Fast becoming a global hub of tech and SME innovation, Saudi Arabia is successfully building a vibrant fintech ecosystem, with Vision 2030 and the Kingdom’s commitment to developing a cashless economy serving as the foundation of this success. As a global technology company in the payments industry, we pride ourselves on working closely with our private and public sector partners to transform the fintech space in Saudi Arabia. Our partnership with Fintech Saudi aligns with this goal and will enable us to better support new and established startups by delivering secure, innovative, and diverse payment solutions and digital services,” said Adam Jones, Country General Manager, MENA Central, Mastercard.

In keeping with Mastercard’s mission, vision and values, the technology company’s partnership with Fintech Saudi extends efforts to connect and power an inclusive, digital economy that benefits everyone, everywhere.

Crucially, the MoU underlines Fintech Saudi’s dedication to serving as a catalyst for the development of the Kingdom’s fintech industry. By partnering with Mastercard, Fintech Saudi — launched by the Saudi Central Bank and the Capital Market Authority — aims to build on its work to support 525 fintech startups in the Kingdom by 2030.

According to the Fintech Saudi 21/22 Annual Report, there are currently 147 active fintech’s in Saudi Arabia — up from active 82 fintech’s (a 79% increase) in 2021. Together with Mastercard, Fintech Saudi will work to create even more financial growth and economic prosperity by empowering the development and lasting success of further Saudi startups.

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Alkhidmat Women’s Wing organizes “Aao Watan Savare”

Alkhidmat Karachi’s Women’s Wing organized “Aao Watan Savare”, an event for girls as part of their Independence Day celebrations at their head office in Karachi.

Students from 16 Community Centres in Karachi participated in the event which included Qiraat, Speech, Mehndi and Sewing competitions.

Senior officials from Alkhidmat Karachi’s Women’s Wing and Community Centres were also present during the event.

Asma Safeer, Nazima Jamaat-e-Islami Karachi Women’s Wing was the Chief Guest while Naheed Iftikhar, Vice President Jamaat-e-Islami Karachi Women’s Wing, Dr. Rahat Qureishi and others spoke on the occasion.

Addressing the audience, Asma Safeer said that Alkhidmat’s Women’s Wing was the leading women’s NGO in the country and was involved in a number of welfare activities.

She disclosed that the Community Centres were instrumental in imparting religious guidance to young girls from an underprivileged background as well as teaching them important household skills such as sewing and cooking.

Naheed Iftikhar also explained the role of the Community Centres in providing a moral environment to young girls which was the need of the hour in today’s challenging social situation.

Towards the end of the program prizes were awarded to the winners of the Qiraat, Speech, Mehndi and Sewing competitions.

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Wolters Kluwer survey shows that 53% of hospital executives who use AI are confident in their drug diversion programs

Substance use disorder has far-reaching impacts across society, and healthcare workers are not immune. In some cases, healthcare worker addiction can lead them to use prescription drugs intended for patients or steal them to be sold for personal benefit. A recent survey sponsored by Invistics, acquired by Wolters Kluwer Health earlier this year, found that despite 98% of healthcare executives agreeing that drug diversion occurs in hospitals, nearly four in five healthcare executives surveyed (79%) believe that most drug diversion goes undetected.

The International Health Facility Diversion Association estimates that at least 37,000 diversion incidents occur in U.S. facilities each year, and this number is likely underreported.1  According to the Wolters Kluwer Invistics survey, “The State of Drug Diversion 2023 Report,” only 40% of executives are very confident in the efficacy of their drug diversion detection programs, with a majority (67%) of executives planning to strengthen their drug diversion efforts in 2023.

Improving inconsistent drug diversion processes

Drug diversion detection has historically been a manual and time intensive process, with 71% of respondents reporting that their team spends eight or more hours on each investigation. Hospitals and ambulatory settings also struggle with consistency when it comes to managing detection programs. When questioned about the impact of the COVID-19 pandemic on their drug diversion programs, 69% of respondents pointed to the increased presence of floating staff or contract workers as the primary factor that made drug diversion detection more challenging.

“With staff shortages and use of contract workers at an all-time high, hospitals may see inconsistency in their drug diversion detection efforts,” said Karen Kobelski, Vice President and General Manager of Clinical Surveillance Compliance & Data Solutions, Wolters Kluwer, Health. “Given the risks to patient safety and clinical teams, as well as the potential reputational and financial impact on the hospital itself, hospital leadership should consider how sophisticated technology can keep these programs running smoothly. As one of our respondents commented, ‘If you do not have any drug diversion, then you are not looking hard enough.’

Artificial intelligence (AI) represents a significant opportunity to improve drug diversion detection efforts across a hospital or health system. By monitoring patterns in data over time and across multiple hospital systems, programs incorporating advanced technologies can support increased hospital detection of diversion and improved patient safety.

Embracing AI for drug diversion detection

Recognizing the significant benefits of AI in diversion detection, more organizations have taken the next step forward in leveraging the latest cutting-edge technology to tackle their institutions’ diversion detection gaps. Since the initial survey in 2019, hospitals that report using machine learning to detect patterns of diversion and automatically flag potential cases have nearly doubled (29% to 56%). These facilities are also more confident in their drug diversion programs, with more than half of executives who use AI tools (53%) reporting they are very confident in the efficacy of their diversion detection efforts.

“Hospitals don’t always have the staff to dedicate to an ongoing diversion detection program as they balance more acute patient needs. AI-powered tools continually running in the background enable healthcare providers and leaders to feel more confident they are able to keep their patients and staff safe from diversion,” Ms. Kobelski continued. “AI-based diversion detection programs can do the hard work of sifting through mountains of data to find suspect cases so resource-strapped hospitals can run an effective program and ensure diversion is detected.”

About the drug diversion survey

100 healthcare employees participated in “The State of Drug Diversion 2023 Report,” facilitated by Eliciting Insights, a healthcare market research company. Survey participants included directors of pharmacy (42%), nursing executives (10%), executives (9%), and drug diversion specialists (34%). The 2023 edition is the fourth of its kind and compares historical findings against current results while gathering additional perspectives.

Wolters Kluwer Health provides trusted clinical technology and evidence-based solutions that engage clinicians, patients, researchers and students in effective decision-making and outcomes across healthcare. The division of Wolters Kluwer supports clinical effectiveness, learning and research, clinical surveillance and compliance, as well as data solutions.

Report here

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Newsweek ranks Wolters Kluwer as the 2nd most trustworthy company in the world

Newsweek ranks Wolters Kluwer as the 2nd most trustworthy company in the world among business & professional services organizations

Wolters Kluwer, one of the world’s leading providers of professional information and software solutions, is proud to announce its number 2 ranking in the Business & Professional Services Category on Newsweek's World's Most Trustworthy Companies list. Newsweek is a 90 year old global media organization that reaches 100 million people each month. 

This well-followed and independently judged ranking of more than 1,000 companies globally is published by Newsweek in partnership with Statista. Wolters Kluwer had the joint highest ranking for Netherlands-based companies in the list. 

“In an age of accelerating change and stringent regulations, the company's information solutions act as a beacon, guiding professionals to make well-informed decisions during critical moments. We are honored to be recognized in such a prestigious ranking,” said Nancy McKinstry, CEO and Chair of the Board of Wolters Kluwer. “For us, however, this is not just an industry ranking; it's a testament to our enduring commitment to providing professionals worldwide with accurate, timely, and reliable expert solutions that deliver deep impact when it matters most. I’d like to thank all our customers and partners who place their trust in Wolters Kluwer every day.” 

Newsweek's comprehensive survey was based on 269,000 ratings from 70,000 respondents across 21 countries and 23 industries. Wolters Kluwer's recognition is a testament to its commitment to providing best-in-class professional information and software solutions to professionals in the healthcare, tax and accounting, financial compliance, legal and ESG regulatory sectors in more than 180 countries, including the majority of Fortune 500 companies.  

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#Jobs2023 - Economic Transformation Initiative GB Jobs 2023 (20 Vacancies)

 Economic Transformation Initiative GB Jobs 2023

Applications are invited for the following positions. latest jobs in gb, economic transformation initiative gb jobs 2023, latest jobs in Pakistan, jobs in Pakistan, latest jobs Pakistan, newspaper jobs today, latest jobs today, jobs today, jobs search, jobs hunt, new hirings, jobs nearby me,

Positions Announced:

1. Director Finance & Administration

2. Gender and Poverty Manager

3. Value Chain Officer

4. Grants Officer

5. Program Officer

7. Account Assistant

8. Admin Assistant

9. Assistant / Computer Operator

10. Assistant to Regional Program Coordinator

11. Program Assistant 

12. Resident Engineer

Last date to apply for the jobs: 

Within 15 days

How to apply: 

All applicants must have good organizational, communication particularly office management applications, and interpersonal and computer skills which will be gauged in both written tests and interviews.

The upper age limit for all positions is 45 years, Detail ToRs of the above-mentioned contractual positions can be downloaded from www.etigb.com.pk All these positions are purely -contractual. Interested candidates meeting the criteria are required to download and fill out the form available at www.etigb.com.pki and submit it along with the attested hard copies of credentials (CV, academic degrees/certificates, experience certificates, two passport sae pictures, and CNIC) at the ETI office during official hours. Address: Economic Transformation Initiative Chinar Bagh, Gilgit. Ph: +92 5811 922553 Only shortlisted candidates will be cared for test/ interview. Government employees shall submit a No Objection Certificate (NOC) along with their applications. The applications must arrive within 15 days of the publication of this advertisement. ETI is an equal-opportunity organization and female candidates are encouraged to apply. Complete applications received after the due date will not be entertained. No TA/DA will be admissible. ETI reserves the right to increase or decrease the number of posts mentioned in the advertisement or to cancel the recruitment process at any stage.

latest jobs in gb, economic transformation initiative gb jobs 2023, latest jobs in pakistan, jobs in pakistan, latest jobs pakistan, newspaper jobs today, latest jobs today, jobs today, jobs search, jobs hunt, new hirings, jobs nearby me,

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Feng Boming Chairs CMPort's 2023 Interim Results Press Conference

 Feng Boming Chairs CMPort's 2023 Interim Results Press Conference

On August 30, China Merchants Port Holdings Co., Ltd. ("CMPort", Hong Kong Stock Exchange Code: 00144) held its 2023 Interim Results Press Conference in Hong Kong. The conference was chaired by Feng Boming, Deputy General Manager of China Merchants Group and Chairman of CMPort's Board of Directors.

In the first half of the year, CMPort's container and bulk cargo throughput remained stable with sustained growth. Its investment in the research and development of digital systems and technologies increased as it continued to set new benchmarks for building smart ports. The number of contracted enterprises in its overseas parks also rose steadily. CMPort's port business completed total container throughput of 66.5 million TEUs, up 0.3% year-on-year. Asset conditions remained stable, with total assets at HK$172.9 billion, up 0.4% from the end of last year. Interest-bearing debts decreased by 4.8% year-on-year, and the net gearing ratio was 20.7%, maintaining a healthy level.

Feng Boming pointed out that in the first half of the year, CMPort adopted a general tone of "seeking progress while maintaining stability" and actively responded to the challenges of weak global economic recovery and shrinking demand. It continued to focus on "endogenous growth" and "innovation and upgrade". Amidst the complex economic and trade environment, it seized opportunities with its container and bulk cargo business achieving stable growth. The company also increased its market share in the main regions where it operates. CMPort made good progress in homebase port construction, technological innovation, market expansion, operations management, reform enhancement, integrated development, ESG and other aspects, laying a solid foundation for high-quality development.

Subsequently, Feng Boming, together with Managing Director Lu Yongxin, Chief Financial Officer Tu Xiaoping, and Deputy General Manager Li Yubin, answered questions raised by reporters.

As the new Chairman of the Board of CMPort, Feng Boming said the new Board of Directors will inherit and carry forward the good practices of the previous Board. Based on market changes and the company's development strategy, it will continue to optimize operational strategies, give full play to professional capabilities, and work diligently and conscientiously to add momentum to the company's development and create value for shareholders.

When answering the question "CMPort has been rooted in Hong Kong for 30 years, how do you view the future development trends of Hong Kong's ports?", Feng Boming said, "We remain confident in the future development of Hong Kong's ports. Hong Kong is a free port and a very important international hub. It is also a global financial center with unparalleled capabilities in connecting the world. In the future, the company will actively participate in the development of the Guangdong-Hong Kong-Macao Greater Bay Area and help Hong Kong to better integrate into the overall national development blueprint."

Reporters at the scene also raised questions and exchanged ideas on topics such as business outlook and digitalization.

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