Pakistan’s First Locally Assembled Electric SUV, the Seres 3 unveiled

Regal Automobiles Industries Limited, a trailblazer in Pakistan's automotive sector, has made history with the unveiling of the country's first locally assembled electric SUV, the Seres 3. The landmark ceremony, held at the Regal Automobiles plant on Multan Road, Lahore, celebrated a significant step forward for Pakistan's automotive industry and its journey toward sustainable electric mobility.

The event marked a pivotal moment in the nation's efforts to embrace cleaner energy solutions and reduce its carbon footprint. The Seres 3 is set to revolutionize the local automotive market with its cutting-edge technology, exceptional performance, and eco-friendly design.

The Seres 3 is equipped with a Permanent Magnet Synchronous Motor (PMSM) and a 54 kWh lithium-ion battery, offering an impressive range of up to 403 km on a single charge (NEDC cycle). With a power output of 156 hp, a torque of 280 Nm, and acceleration from 0-100 km/h in just 8.9 seconds, the Seres 3 is designed for superior performance. It also supports DC fast charging, enabling the battery to charge from 0-80% in just 40 minutes.

Inside, the Seres 3 offers a premium experience with a spacious interior, a 10.25-inch touchscreen, advanced infotainment options, and top-notch safety features, including advanced driver-assistance systems (ADAS) like lane-keeping assist warning, collision warning, and hill descent.

Speaking at the ceremony, Mr. Adeel Usman, Managing Director at Regal Automobiles stated, "The launch of the Seres 3 is a proud moment for us and the nation. As Pakistan's first locally assembled electric SUV, it represents our commitment to innovation, sustainability, and contributing to a cleaner, greener future. This achievement is a testament to the potential of Pakistan's automotive industry to lead in the global transition toward electric mobility."

The introduction of the Seres 3 underscores Regal Automobiles' dedication to reducing Pakistan's dependence on fossil fuels and contributing to a sustainable future. By offering an affordable, high-quality electric vehicle option, Regal Automobiles aims to cater to eco-conscious consumers and businesses while driving the growth of the electric vehicle market in Pakistan.

The Seres 3 is expected to reshape the automotive landscape in Pakistan, positioning the country as an emerging hub for electric mobility innovation.

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Mobilink Bank named ‘Best Microfinance Bank’ at Pakistan Banking Awards 2024

Islamabad: Pakistan's leading digital microfinance institution, Mobilink Bank was honored as the 'Best Microfinance Bank' at the Pakistan Banking Awards 2024. The recognition highlights the Bank's pivotal role in advancing financial inclusion and digital empowerment, and underscores its prowess in leveraging innovative fintech solutions to shape a digitally future-ready Pakistan.

Commenting on the achievement, CEO Jazz and Chairman, Mobilink Bank, Aamir Ibrahim said, "This award is a testament to the trust placed in Mobilink Bank by millions of Pakistanis and reflects our collective mission to uplift society through financial inclusion. Mobilink Bank's success lies in its commitment to empowering individuals, particularly women, by providing them with the tools and resources to thrive. This recognition resonates with our ongoing efforts to foster economic growth, resilience, and progress across the country. I commend the entire team for their dedication and look forward to their continued impact in transforming lives."

 
Interim CEO Mobilink Bank, Haaris Mahmood Chaudhary said, "The award is an honor that reflects our unwavering commitment to empowering small businesses, women, and underserved communities through innovative, digital banking solutions that drive meaningful change. Looking forward, we remain committed to expanding access and creating lasting opportunities for those who need it most, as we work towards building a more inclusive, future-ready digital financial ecosystem for fostering sustainable growth and economic progress."

Mobilink Bank drives financial inclusion through innovative fintech solutions to empower underserved communities in the digital age. Through its Women Inspirational Network (WIN), it has equipped over 20,000 women with financial and digital literacy, and aims to onboard 50,000 more into the formal banking system by 2026 in partnership with Care International Pakistan. The Bank also advocates women's inheritance rights through a comprehensive awareness campaign and, as an industry-first initiative, provides an innovative digital inheritance calculator on its 'DOST' app to empower users, especially women with accurate share calculations and informed decision-making

The Bank works in collaboration with multiple active players to amplify the reach and impact of its initiatives. The Bank's DOST App further enhances this effort by providing users with flexible, self-paced learning opportunities, making financial education more accessible and inclusive.

In 2023-2024, the Mobilink Bank School of Learning delivered over 83,000 hours of training to enhance the digital skills of both employees and entrepreneurs. Through the National Financial Literacy Program (NFLP-II), the Bank reached 2,780 rural beneficiaries, including 71% of women. This achievement earned the Bank the 'Best NFLP Team Award' from the State Bank of Pakistan. The bank's innovative services, training programs and collaborative efforts reflect its vision of helping create a digitally agile, inclusive, and future-ready Pakistan.

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EFFICIENT BANKING SECTOR PIVOTAL FOR PAKISTAN’S GROWTH: CERP, AT and PBA

KARACHI: Innovation, financial inclusion, SME lending and forward-thinking banking regulations are key to boosting the efficiency of Pakistan's banks, according to a new analysis by CERP and Alchemy Technologies, supported by the Pakistan Banks' Association (PBA).

At the launch of Banking on our Banks: Aligning Growth with Development held in Karachi today, industry stakeholders highlighted the vital role of the banking sector in driving growth and development. While the sector has shown great improvements, it is important to move beyond measuring profitability and growth as the only relevant performance indicators for evaluating the competitiveness of our banks.

The growing performance disparity with regional counterparts, overdependence on specific economic sectors, regulatory constraints, and limited incentives for people to use formal banking channels create an environment that hinders innovation, limiting the growth potential of Pakistan's banks.

Mr Jameel Ahmad, Governor State Bank of Pakistan, as the chief guest, stated, "Our banking sector is well positioned in terms of solvency, asset quality, and profitability to contribute to the economic growth and development of Pakistan by embracing technology and fostering innovation. While remaining focused on governance and risk management, we can enhance the capacity and resilience of our banking sector to serve all segments of the economy."
Opening the event, Mr Zafar Masud, Chairman PBA  said, "It is important to recognise that Pakistan's banks operate in a challenging environment, with 52% of the undocumented economy and many sectors actively avoiding the tax net. Despite these challenges, the banking sector continues to contribute generously to the national exchequer and fiscal deficit, with a willingness to do even more through income-based taxes than the taxes on balance sheet like the ADR. This level of commitment is rare, especially in emerging economies like ours, and deserves recognition and applause."

Banks are incentivized to lend within well-trodden paths, prioritizing uncompetitive sectors like energy, agriculture, logistics and textiles while ignoring industries with long-term potential. Absence of competition discourages new product development and the ability to take bets on newer sectors. Cumbersome approval processes and predictable returns make innovation a losing bet not just at the regulator but also within banking boardrooms.

"The truth is that changing rules doesn't change behaviour, incentives do. With the right data and solutions, we can build a unified banking ecosystem ready to fuel Pakistan's economic recovery," said Maroof A. Syed, President and CEO of CERP.

The event also included panel discussions where the joint analysis was debated by Maheen Rahman, CEO, InfraZamin Pakistan, Ahmed Khan Bozai, Vice Chairman, PBA & Citi Country Officer, Citibank N. A., Pakistan, Asif Ali Qureshi, CEO, UBL Funds and Mutaher Khan, Co-Founder, Data Darbar and a way forward was charted out by Shahid Mustafa, Co-Founder, Tameer Microfinance Bank & CEO, Pakistan Microfinance Investment Company (PMIC), Khursheed Kotwal Vice President, The Institute of Chartered Accountants of Pakistan and Atif Muhammad Ali, Chief Commercial Officer, Engro Fertilizers Ltd.

The event discussions highlighted regulatory challenges, the high costs associated with digitalization and the resulting overreliance on unprofitable sectors. However, with well-implemented and strategic reforms, these issues can be addressed, reducing frictional costs and enhancing banks' long-term competitiveness.

"We need market-driven incentives, robust regulatory frameworks, forward-looking boards and a sandbox approach to experimentation. Otherwise, banks will continue to prioritize comfort lending over bold decisions necessary for economic transformation," said Jawwad Farid, CEO at Alchemy Technologies and Professor of Practice at IBA.

To foster sustained growth, participation in the formal economy has to be incentivized. In order for banks to help small businesses to thrive, regulatory frameworks have to reconsider tax strategies. Banks, too, need to evolve their boards to be more diverse and supportive of new visions. All three sectors need each other to drive the reforms necessary to make Pakistan's economy competitive and complex enough to withstand global challenges.

The event concluded with Mr. Muneer Kamal, CEO and Secretary General PBA, expressing his appreciation for CERP and Alchemy Technologies for spearheading this important dialogue. He also reaffirmed the sector's commitment to stimulating economic activity and emphasized that PBA's ongoing collaboration with the Ministry of Finance and the SBP on key development areas will eventually drive sustainable progress and promote long-term growth for Pakistan.

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PPAF Distributes Interest-Free Loans to Over 25,000 Families in October 2024

Islamabad: PPAF Provides Interest-Free Loans to Support Over 25,000 Families. Through the Pakistan Poverty Alleviation Fund (PPAF), the government gave interest-free loans to more than 25,000 people in October 2024 as part of its efforts to improve impoverished neighborhoods.

Under the project, which was carried out in cooperation with partner organizations, ultra-poor households nationwide have received loans totaling 1.2 billion rupees.An official source claims that the program's objectives are to empower economically disadvantaged groups in society, improve financial inclusion, and establish sustainable lives.

Beneficiaries' financial circumstances should improve as a result of this endeavor since it will allow them to become self-sufficient, maintain their families, and earn higher wages.The government is unwavering in its resolve to combat poverty and advance financial stability across the country.

One of the main elements of the National Poverty Graduation Initiative, which is funded by the Pakistani government, is the Interest Free Loan Program. Through the loan centers, the program that supports PPAF's overarching strategy for poverty graduation offers interest-free loans to the target demographic.

The program is being carried out in over 100 districts throughout three regions Islamabad Capital Territory, Gilgit Baltistan, and Azad Jammu and Kashmir as well as in the provinces of Punjab, Sindh, Balochistan, and Khyber Pakhtunkhwa.

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Al-Ghazi Tractors Partners with Punjab Government on Landmark Green Tractor Scheme

AGTL Partners with Punjab Government on Landmark Green Tractor Scheme

Lahore:  Al-Ghazi Tractors Limited (AGTL) is proud to announce the signing of a historic agreement with the Punjab Government for the Chief Minister Green Tractor Scheme, marking a significant milestone in agricultural mechanization across the province. The agreement was signed in the presence of Minister for Agriculture Punjab, Syed Muhammad Ashiq Hussain Shah Karmani, and Secretary Agriculture Punjab, Mr. Iftakhar Ali Sahoo.

The partnership aims to strengthen Punjab's agricultural sector by making modern farming equipment more accessible to the farming community. Through this initiative, AGTL will play a crucial role in supporting the government's vision of agricultural modernization and sustainable farming practices.

"This collaboration represents our commitment to empowering Pakistan's farmers with reliable and efficient agricultural solutions," said Sakib Eltaff, Chief Executive Officer of AGTL. "By partnering with the Punjab Government, we are taking a significant step toward agricultural modernization while supporting the backbone of our economy - our farmers."

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Galaxefi and Skillsrator Enters Into Strategic Alliance to Revolutionize Cross-Border Trade

Karachi: Galaxefi, an innovative tech company, and Skillsrator, a member of Extreme Commerce Incubation Network (ExCIN), has announced their strategic alliance aimed to revolutionize the cross-border trade in Pakistan. The strategic alliance, 1NEP or the One Network for Pakistan Cross-border Trade, aims to empower and create more traders, manufacturers, service providers, and logistics partners by incubating and offering a unified digital platform that simplifies and streamlines complex trade processes.

Galaxefi, as a private-sector port community system, connects the traders, freight forwarders, NVOCCs, and logistics partners with tools that reduce dependency on manual processes, offering an integrated digital solution that can scale with businesses of any size. The flow of information, documents, and payments will occur seamlessly across the supply chain, enhancing transparency and operational efficiency. Whereas, Skillsrator, known for nurturing startups and fostering ecommerce entrepreneurial spirit, will provide the expertise needed to mentor new traders and manufacturers looking to tap into global markets. By offering training, co-working spaces, and business mentorship, Skillsrator will ensure that businesses are equipped to leverage Galaxefi's advanced technology, enabling them to navigate the intricacies of international trade with ease.

Speaking at the occasion, Mr. Asif Pervez, CEO Galaxefi said, "we at Galaxefi aims to streamline the largely offline freight forwarding and shipping industry, where approximately 80% of operations still rely on outdated methods. To overcome this, we have partnered with the top organizations from the relevant sectors. This alliance comes at a crucial time for Pakistan, where the government's push towards digitalization aligns with the broader global trend of building Single Window and Port Community Systems. Through this collaboration, Pakistan's exports are expected to grow significantly, as manufacturers gain access to international markets and traders find it easier to conduct business across borders."

The "1NEP" One Network for Pakistan Cross-border Trade concept offered by Galaxefi ensures that every stakeholder in the supply chain benefits from a unified digital experience, creating an environment where traders can focus on growing their businesses, while the platform takes care of everything from operational processes to compliance.

Sharing his thoughts, Mr. Gulfam K. Bhagoor, CEO stated, "The strategic alliance between Galaxefi and Skillsrator is a monumental step toward digitizing Pakistan's trade infrastructure and fostering economic growth. By offering businesses one unified network from A-to-Z, where supply chain visibility and operational transparency are at the forefront, the partnership is creating a streamlined ecosystem for Pakistan's importers, exporters, and logistics providers. More importantly, this alliance is addressing the critical need for trained human capital in the logistics and trade sectors. With Skillsrator's mentorship and Galaxefi's technology, businesses can operate with leaner resources, maximize their operational efficiency, and contribute to building a stronger, digitally-enabled Pakistan."

The strategic vision is to enable Pakistan's small and medium enterprises (SMEs) to compete on a global stage by providing them with the digital tools they need to reduce operational costs and increase efficiency. Whether it's through creating new manufacturers that produce world-class goods or empowering existing traders to reach new markets, this partnership has the potential to unlock billions of dollars in export potential, boosting the economy and creating a ripple effect of growth.

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​F​M Muhammad Aurangzeb Holds Virtual Meeting with SBP Governor and PBA Chairman to Discuss Progress on Financing for Priority Sectors

Pakistan Banks' Association Chairman Zafar Masud apprises minister on various initiatives planned by PBA for building an inclusive and sustainable financial ecosystem

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a virtual meeting with the Governor State Bank of Pakistan and Chairman Pakistan Banks' Association (PBA) and their teams to discuss progress on financing for the priority sectors Monday.

Zafar Masud, Chairman of PBA, apprised the Minister on various initiatives planned by PBA for building an inclusive and sustainable financial ecosystem.

He proposed that electronic warehouse receipt finance, SME index, corporate farming financing, venture capital fund for fintechs, revival of agri cooperatives and establishment of financial data exchange could be some of the potential initiatives to create a long-term impact towards a sustainable financial ecosystem.

He also proposed initiatives such as fan financing, EV financing, solarization of tube-wells and markup subsidy and first loss coverage for SME financing for a short-term and more immediate impact on the system.

Jameel Ahmed, Governor State Bank of Pakistan, highlighted the progress achieved on various fronts in respect of various initiatives proposed by PBA for financing to priority sectors.

He argued that some of the proposals suggested by PBA were concrete in scope and the central bank had already issued necessary notifications on regulatory side to facilitate their implementation.

He also proposed a more proactive consultation between stakeholders, particularly with telecos and power companies, on initiatives requiring data collection and building scorecard for agriculture and SME sectors for sustainable financing.

Speaking on the occasion, Minister for Finance and Revenue Senator Muhammad Aurangzeb appreciated the work done by PBA and SBP for coming up with substantial initiatives and taking measures for implementing the more tangible initiatives.

He urged that initiatives with short term and immediate impact be given priority and their implementation timeframe be compressed for finalizing them by end December and hopefully rolling them out from early next year.

The Minister also assured full support for arranging necessary consultations between PBA/SBP and the stakeholder ministries, adding the Finance Division would also host a meeting of all relevant stakeholders to hear their viewpoints, and help forge a consensus on the proposed initiatives.

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From slop to demure, brain rot to lore, meet the six words of 2024 competing for Oxford Word of the Year

For the third consecutive year, Oxford University Press (OUP) is providing word lovers everywhere with the opportunity to vote for its annual Word of the Year. This year's shortlist, chosen to reflect some of the moods and conversations that have shaped 2024, has been compiled by OUP's experts following analysis of its 25-billion-word corpus of language data.

Encapsulating themes from finances to fantasy, and the evolving impact of technology on society, the competing six words and expressions have seen a notable spike in usage and gained new prominence in 2024. The shortlist, now open to public vote, is as follows:

·         Lore (n.): A body of (supposed) facts, background information, and anecdotes relating to someone or something, regarded as knowledge required for full understanding or informed discussion of the subject in question.

·         Brain rot (n.): Supposed deterioration of a person's mental or intellectual state, especially viewed as the result of overconsumption of material (now particularly online content) considered to be trivial or unchallenging. Also: something characterized as likely to lead to such deterioration. 

·         Dynamic pricing (n.): The practice of varying the price for a product or service to reflect changing market conditions; in particular, the charging of a higher price at a time of greater demand. 

·         Demure (adj.): Of a person: reserved or restrained in appearance or behaviour. Of clothing: not showy, ostentatious, or overly revealing.

·         Slop (n.): Art, writing, or other content generated using artificial intelligence, shared and distributed online in an indiscriminate or intrusive way, and characterized as being of low quality, inauthentic, or inaccurate.

·         Romantasy (n.): A genre of fiction combining elements of romantic fiction and fantasy, typically featuring themes of magic, the supernatural, or adventure alongside a central romantic storyline. 

Speaking about this year's selection, Casper Grathwohl, President of Oxford Languages, said:

"Since 2004, we've aimed to provide a window into language and cultural change through the Oxford Word of the Year. The 2024 shortlist represents a snapshot of the topics that have caught our interest and imagination and kept us talking. Capturing themes from finances to fantasy, what is particularly unique about this year's selection is the range of words associated with bygone eras that have slid back into public consciousness – in some cases after being adopted and retooled by online communities.

"We are excited to once again invite the public to help us choose Word of the Year. Everyone experiences words that resonate with them, that encapsulate how they feel about a certain time. To see people sharing those experiences as part of Word of the Year has been both insightful and deeply moving. The words we choose reflect who we are and remind us of the power that language holds to shape the world around us."

 

Voting will remain open for two weeks, closing on Thursday 28 November. OUP will conduct a last detailed analysis, considering corpus data, votes, and public commentary on the finalists, before naming the definitive Word of the Year for 2024 on 2 December.

This year marks two decades of Oxford Word of the Year, and the third time that people across the world have had the opportunity to vote for their Word of the Year, with the public crowning goblin mode their winner in 2022, and rizz in 2023. From podcast (US) and sudoku (UK) in 2005, to selfie (2013) 😂 (2015) and climate emergency (2019), Word of the Year continues to highlight the language that has shaped conversations and reflected the cultural shifts, patterns, and sentiments of a particular year.

Voting is now open on OUP.com website closing at 15:00 (GMT) / 10:00 (EST) Thursday 28 November 2024. The winner will be announced on Monday 2 December 2024.

It currently publishes thousands of new publications a year, has offices in around fifty countries, and employs approximately 5,000 people worldwide.

 

It has become familiar to millions through a diverse publishing program that includes scholarly works in all academic disciplines, bibles, music, school and college textbooks, children's books, materials for teaching English as a foreign language, business books, dictionaries and reference books, and academic journals.

 

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BYD Marks 30th Anniversary with Roll-off of 10 Millionth NEV

Shenzhen - China: BYD, the world's leading manufacturer of new energy vehicles (NEVs) and power batteries, today marked a historic moment in its 30th-anniversary celebration with the roll-off of its 10-millionth NEV at its Xiaomo Production Base in the Shenzhen-Shanwei Special Cooperation Zone. This significant achievement underscores BYD's unwavering commitment to sustainable transportation and reinforces its position as a global leader in the automotive industry.
 
At the event, BYD's Chairman and President, Mr. Wang Chuanfu, delivered a keynote address reflecting on the company's remarkable transformation from a small startup with just 20 employees to a multinational corporation with nearly one million staff worldwide. Mr. Wang highlighted BYD's dedication to technological innovation and its crucial role in shaping the future of mobility.

Achieving the milestone of 10 million NEVs is a testament to BYD's steadfast commitment to sustainable development. The company is now the first automaker in the world to reach this groundbreaking figure. Remarkably, BYD took 15 years to produce the first 5 million NEVs and achieved the next 5 million in just 15 months, demonstrating the company's strategic focus on new energy vehicles and its continuous technological advancement.
 
The 10-millionth vehicle, a DENZA Z9, was presented to Mr. Feng Ji, Founder and CEO of Game Science and the visionary behind the critically acclaimed game Black Myth: Wukong.

 
Mr. Wang emphasized that BYD's success is built on a foundation of bold vision, relentless execution, and unwavering perseverance. He attributed the company's achievements to its strong technological capabilities and deeply embedded engineering culture. "The soul of BYD's engineers is the soul of our company," he said.
To provide an in-depth look into BYD's culture, Qin Shuo, a renowned Chinese financial journalist and author, conducted interviews with nearly 100 mid-to-senior level executives and employees. These insights have been compiled into the book "The Soul of Engineers".
 
Looking to the future, Mr. Wang outlined BYD's strategic roadmap and introduced the "BYD Basic Guidelines"—a comprehensive document that encapsulates the company's foundational principles, historical experiences, and forward-looking strategies. This framework will guide BYD's continued growth and innovation in the years ahead.

 
Looking ahead, BYD will invest 100 billion yuan in developing intelligent technologies that integrate artificial intelligence with automotive systems, driving comprehensive upgrades of its entire vehicle lineup. This commitment will ensure BYD remains at the forefront of technological advancement, maintaining a competitive edge in the global market while fulfilling people's aspirations for a better life. With a steadfast focus on the engineering spirit and a dedication to sustainable development, BYD is poised to strengthen its position as a world-class high-tech enterprise.

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Sindh Leads the Way: Pakistan’s First Transgender Education Policy Draft Approved

Sindh Leads the Way: Pakistan's First Transgender Education Policy Draft Approved

Sindh's Education Minister, Syed Sardar Ali Shah, has approved Pakistan's first-ever Transgender Education Policy draft, introducing a dedicated gender category for transgender students in admission forms and mandating a job quota for transgender individuals in teaching positions. This policy aims to combat systemic exclusion and discrimination faced by the transgender community in the education sector. The draft will now be presented to the Sindh cabinet for legal approval, with high-ranking officials, including Secretary Zahid Ali Abbasi and Adviser Fozia Khan, lauding the initiative.

According to the 2023 national census, Pakistan has 20,331 transgender individuals, with 4,222 in Sindh. USAID research highlights that 42% of transgender individuals in Pakistan have minimal literacy, and 40% lack access to education entirely. Minister Shah emphasized the deep-rooted societal prejudices that hinder their access to education, stressing the absence of a tailored curriculum and the urgent need for inclusive systemic reforms.

The inclusion of a job quota for transgender teachers aims to empower the community by providing them with respectable employment opportunities. Minister Shah reiterated that education is crucial for securing a dignified future for transgender individuals. If approved, this groundbreaking policy could inspire similar reforms in other provinces, showcasing Pakistan's commitment to social justice and inclusivity.

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BOP Exchange Inauguration Ceremony at Tricon Center in Lahore

Lahore: BOP Exchange proudly inaugurated its Tricon Center Branch in Lahore today, marking a significant milestone in its mission to revolutionize the exchange industry in Pakistan.

The grand ceremony was graced by Mr. Zahid Akhtar Zaman, Chief Secretary Punjab, as the Chief Guest. The event drew an esteemed gathering of senior members of the BOP leadership, including President & CEO Mr. Zafar Masud and senior management from BOP and BOP Exchange.

The inauguration began with a ribbon-cutting ceremony. Speaking at the event, Mr. Zahid Akhtar Zaman praised BOP Exchange's efforts in enhancing financial accessibility and contributing to the formal economy. He remarked, "BOP Exchange is setting a high standard for service excellence and innovation in the financial sector. Its focus on transparency, technology-driven solutions, and customer satisfaction will undoubtedly strengthen Pakistan's financial ecosystem. I applaud their commitment to making foreign exchange and remittance services more accessible, especially for the common citizen."

Mr. Zafar Masud, President & CEO The Bank of Punjab, in his welcome speech, highlighted the pivotal role of BOP Exchange in delivering cutting-edge financial solutions. He stated, "BOP Exchange is not only setting a new benchmark in the foreign exchange industry but is also helping to bridge the gap between formal and informal financial sectors. This launch reinforces our commitment to supporting Pakistan's economic stability and financial inclusion."

BOP Exchange is a wholly owned subsidiary of the Bank of Punjab, designed to transform the foreign exchange and remittance industry in Pakistan. With a customer-first approach, BOP Exchange aims to deliver secure, transparent, and innovative solutions for currency exchange and remittance services.

The Tricon Center Branch is equipped with state-of-the-art technology and a highly trained team to offer fast, reliable, and competitive services. BOP Exchange also plans to expand its footprint across Pakistan, with a focus on key financial hubs to meet the growing demand for remittances and foreign exchange.

In addition to traditional exchange services, BOP Exchange is actively integrating digital innovations, such as a forthcoming mobile app that will enable users to access currency conversion, book deals, and track transactions from the comfort of their homes.

Mr. Khawar Ansari, CEO of BOP Exchange, in his remarks, stated, "This launch reflects our unwavering commitment to reshaping the exchange industry in Pakistan and delivering value to our customers and stakeholders."

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40% of Pakistanis Aspire to Emigrate Amid Economic and Political Turmoil

Pakistan Ranks Fifth in Europe for Illegal Migration, NCHR Report Reveals

Rising Economic Challenges Drive Increased Illegal Emigration

Pakistan has surged to fifth place among countries with the most illegal immigrants in Europe, according to the National Commission for Human Rights (NCHR). A report by Zunaira Inam, supported by Denmark's Foreign Affairs Ministry and the International Organization for Migration (IOM), attributes this alarming trend to economic hardships, political instability, lack of education, inflation, and terrorism. Nearly 40% of Pakistanis, predominantly from urban areas, express a desire to leave the country for better prospects.

The report highlights a sharp increase in illegal emigration over the past two years. In 2022, Pakistan did not feature among the top 10 countries for illegal migration to Europe. However, by the end of 2023, it had climbed to fifth place, with 8,778 illegal crossings recorded. NCHR Chairperson Rabiya Javeri Agha emphasized that the risks associated with these perilous journeys have not deterred migrants. Many are using routes through Dubai, Egypt, and Libya, with over 13,000 Pakistanis reaching Europe in the first half of 2023 alone.

The findings reveal that migration interest is higher among urban residents (40%) than rural ones (36%). The report underscores the urgent need for solutions to address the root causes driving illegal migration and to ensure safer alternatives for those seeking better opportunities abroad.

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Pregnant Woman Brutally Murdered by In-Laws in Daska Village

Pregnant Woman Brutally Murdered by In-Laws in Daska Village

In a shocking incident from a village near Daska, a seven-months pregnant woman, Zara Qadeer, was brutally murdered by her in-laws. Reports reveal that her body was dismembered and stuffed into two bags, which were later discarded into a canal. Adding to the heinous act, her head was severed and burned on a stove until unrecognizable, with the intent of erasing any chance of identification. The remains were then disposed of in separate locations.

The horrifying crime was orchestrated by Zara's mother-in-law, her maternal aunt, and two cousin-sisters (her sisters-in-law), allegedly due to jealousy over her beauty and her husband's love for her. The perpetrators reportedly hired surgical services from Lahore to carry out the gruesome act and falsely accused Zara of eloping with a lover. Zara's husband was living abroad, and her only "fault" was being the center of her husband's affection. The tragedy has left Zara's grieving father in a critical condition. This appalling case has sent shockwaves across the region.

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realme 13+ 5G: A Powerhouse Punch to All the Competition Ready to Launch in Pakistan

Rumors are swirling in the tech world that realme is preparing to launch its latest in the number series, the realme 13+ 5G, in Pakistan. Known for its unbeatable performance in the mid-range segment, the realme number series has consistently delivered top-notch processors, making it a favorite among Pakistani consumers.

his new release has already sparked excitement among smartphone enthusiasts, who are eager to see how it compares with other premium options in the market—especially its closest competitor, the Vivo V40e. Here's a closer look at why the realme 13+ 5G might just outshine the competition.

Powerful Processor for Enhanced Gaming and Multitasking

t the heart of the realme 13+ 5G lies the D7300 Energy processor, a powerful chip designed to optimize both performance and energy efficiency. With a benchmark score that surpasses many of its competitors, this processor enables faster gaming, smoother app performance, and efficient multitasking. Paired with a 5000 mAh battery and 80W fast charging, the realme 13+ 5G ensures that users can enjoy extended gaming sessions without worrying about frequent recharging. In comparison, the Vivo V40e's D7300 processor, though capable, may not deliver the same level of speed and responsiveness that realme's optimized version achieves. The realme 13+ 5G is expected to appeal to gamers and power users who demand high performance in a mid-range smartphone.

Largest Memory in Its Class

One of the standout features of the realme 13+ 5G is its memory capacity. With 12GB of RAM and an additional 14GB of virtual RAM, this device is equipped to handle demanding tasks with ease, providing ample space for multitasking and running multiple apps simultaneously. The Vivo V40e, by contrast, offers 8GB of RAM, which may not match the seamless performance that realme's higher capacity enables. For users who frequently switch between apps or keep many applications open, the realme 13+ 5G's impressive memory setup is a game-changer.

Enhanced Viewing Experience in a Sleek Form

The realme 13+ 5G features a sleek 6.67-inch AMOLED display, slightly smaller than the Vivo V40e's 6.77 inches, but it compensates with a higher screen-to-body ratio of 93.0%, compared to Vivo's 90.3%. This means the realme model offers an immersive viewing experience, maximizing screen real estate within a compact design. Additionally, while both devices offer a smooth 120Hz refresh rate, realme's design may have an edge for those looking for a high screen-to-body ratio in a more compact form factor.

Camera Capabilities

In the camera department, realme seems to have focused on quality over quantity. Its primary camera, a 50MP Sony LYT 600 with Optical Image Stabilization (OIS), promises sharper, clearer images, particularly in low light. This single high-quality lens could potentially offer a more consistent photographic experience than the Vivo V40e's dual setup of 50MP + 8MP. While Vivo's additional sensor may add versatility, realme's choice to integrate Sony's imaging technology might be a deliberate attempt to win over photography enthusiasts looking for crisp, stable shots.

A Speculative Outlook for realme 13+ 5G in Pakistan

If realme does launch the 13+ 5G in Pakistan, it could disrupt the market as a value-packed, performance-oriented smartphone. With features tailored to meet the needs of tech-savvy users, the realme 13+ 5G would provide tough competition for midrange smartphones. Pakistani consumers may find the realme's combination of high RAM capacity, efficient processor, and advanced camera to be compelling reasons to choose it over other smartphones in the market. 

realme's number series has consistently ranked among the fastest-selling smartphones in Pakistan, thanks to its combination of advanced features, competitive pricing, and strong brand appeal. Known for delivering high performance and value, previous models in the series have quickly gained popularity, resonating with a tech-savvy audience looking for premium features at accessible prices. This track record sets high expectations for the realme 13+ 5G, with many anticipating it to be another success story in Pakistan's smartphone market.

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Conquer The Frozen Wilds Of ICEMIRE Frontier In PUBG Mobile’s Version 3.5 Update

 

PUBG MOBILE announces a host of winter-themed features in the Version 3.5 Update:

●     Enter Icemire Frontier, challenge the fearsome Frostborne Dragon, explore hidden treasure vaults and earn epic rewards!

●     Classic mode debuts commemorative PMGC Photo Spot and theming, alongside Dance Stage on Erangel's Spawn Island, new M79 Smoke Grenade Launcher, and Horse mount.

●     World of Wonder updates and enhancements, including Breakable Gameplay and Editor Improvements alongside new themed mounts and vehicles, the Sabertooth Tiger, Mammoth, and Fighter Jet, plus the new Frostsoul Warhammer Themed Weapon.

●     Metro Royale introduces a new elite PvE enemy, Home Mode launches Frost Festival Event, and Cycle 7 Season 21 debuts new legendary items.

●     A returning partnership with a renowned sports car manufacturer races into the battlegrounds.

 

 

PUBG MOBILE, one of the world's most popular mobile games, reveals thrilling new enhancements in its Version 3.5 Update. Available until January 7th, players can prepare to brave the cold, conquer the Frostborne Dragon, and uncover hidden treasures as they explore the vast landscapes of the new Icemire Frontier. Discover icy new updates to Home Mode, World of Wonder enhancements, new legendary items in Cycle 7 Season 21, alongside a new enemy, collectibles and improvements in Metro Royale.

 

Icemire Frontier brings a unique, chilling challenge across the Erangel, Livik, and Vikendi maps in the Version 3.5 Update. Journey to Frostheim for intense battles in Chieftain's Stronghold or venture into the Beast-Taming Grounds. In the Magic Crystal Mines, players can also discover hidden rewards, and unlock Magic Crystal Crates that contain game-changing supplies.

 

For those who seek a challenge, the Dragon's Lair, available only in Erangel, offers an exciting opportunity to face off against the ferocious Frostborne Dragon. With the help of an Ice Portal key, up to three teams of players can enter the Lair in the hopes of defeating the Frostborne Dragon and unlocking the special treasure vault. Being knocked down in the Dragon's Lair does not count as an elimination, providing players with the opportunity to bounce back, secure the loot, and emerge victorious.

Icemire Frontier also introduces several unique items, including the Frostsoul Spear, which allows players to teleport and create slowing ice fields, and the Frostsoul Warhammer, a melee weapon which generates defensive ice walls. Players can experience two new mounts; the Mammoth, a large mount capable of carrying up to four players with exposed weak points for strategic targeting, and the Sabertooth Tiger, a nimble two-player mount that supports mounted firing, drifting, and jumping - perfect for high-speed escapes or chases.

 

The Version 3.5 Update also introduces an array of exciting classic mode updates and enhancements. In Erangel's Spawn Island, a vibrant Dance Stage invites players to engage in a Victory Dance while waiting for matches to begin. Players can also enjoy the permanent addition of horses, two-person mounts capable of traversing complex terrains, swimming, jumping, and engaging in mounted combat, to classic mode across multiple maps, whilst tactical options are expanded with the introduction of the M79 Smoke Grenade Launcher. In celebration of the upcoming PMGC 2024, special PMGC Photo Spots have also been added in both Erangel and Livik, offering players a chance to capture memorable moments. Several classic gameplay elements have also been transformed with a PMGC theme in anticipation of the upcoming 2024 event.

A host of features and enhancements arrive in World of Wonder with the Version 3.5 Update. Breakable walls open up fresh tactical advantages in 1v1 matches, whilst the new Multiplayer Arena mode map Destructible Town features destructible walls, buildings, and structures, turning the town into an ever-shifting battlefield where players can reshape their surroundings mid-fight. Elsewhere, The Dorm Sniper Battle map offers thrilling sniper duels between breakable buildings, challenging teams to leverage breakable cover and adapt quickly for the chance to secure victory.  A new Trending Tab showcases lesser-known creations, and the Smart Generator: Buildings feature enables players to quickly create warehouses and residential buildings with ease, whilst new tutorial stages provide guidance for World of Wonder newcomers.The update also introduces themed mounts and vehicles - the Sabertooth Tiger, Mammoth, and Fighter Jet - alongside the Frostsoul Warhammer themed weapon, offering fresh and exciting gameplay possibilities within the World of Wonder environment.

Alongside new collectibles, Metro Royale welcomes a fierce new PvE enemy in the Version 3.5 Update, as the Sabertooth Tiger roams Misty Port and Arctic Base. Winter Crates, packed with valuable items, also appear in Misty Port and Arctic Base maps, and players can utilise the newly optimised Lock Box to store items strategically, enhancing coordination with the marking feature for supply crates.

 

An array of exciting additions to Home mode also arrive in the Version 3.5 Update. Arctic-themed music sets the mood for winter, and players can now meet Lily, the charming new Home Butler, who comes with exclusive emotes and outfits. Players can also enjoy the winter-themed Lavish Northern and Bay Cove Winter Castle Styles, available for purchase or via Home Lucky Spin on specific dates. Players can now merge together identical furniture to increase Prosperity and Style Points, adding a strategic layer to Home management, and the introduction of Item Recommendations in Editing Mode makes it easier to find new styles and bestsellers that players don't yet own. For even more winter fun, the Frost Festival Event invites players to transform into snowballs for the Snowball Showdown. Collect Frost Points, earn snow-building materials, and rise up the Snowman Ranking to claim exclusive rewards.

 

The Version 3.5 Update also introduces Cycle 7 Season 21, featuring a lineup of new legendary items including C7S21 Glasses, C7S21 Set, C7S21 Mask, C7S21 Cover, and C7S21 - MG3. Additionally, the Season Token Event Shop has been updated to include the C7S21 Parachute, and new tier rewards have been added for both the Classic and Casual Season.

 

Further information about what's included in PUBG MOBILE's Version 3.5 Update can be found in the official patch notes available here.

 

PUBG MOBILE's Version 3.5 Update will be available until January 7th! Download the game and play for free on the App Store and Google Play Store.

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The Aga Khan University Hospital Introduces Groundbreaking 3D-Printed PEEK Implant Procedure in Pakistan

Karachi: The Aga Khan University Hospital (AKUH) has announced the successful implementation of 3D-printed PEEK implants, meticulously designed and manufactured by AKUH's experts. This transformative leap in medical innovation aims to improve healthcare access, affordability, and outcomes for patients needing complex bone replacement surgeries in Pakistan.

3D-printed PEEK implants are high-performance, customized devices that can replace bones in various parts of the body, including the skull, jaw, and spine. These implants stand out due to their strength, lightweight nature, and compatibility with the human body, which reduce the risk of infection and improve long-term success rates. By offering a cost-effective, high-quality option, designed and manufactured in-house, the Aga Khan University Hospital has set a new standard of care now accessible to patients requiring bone replacement at a fraction of the earlier cost of imported implants.

Dr. Shahzad Shamim, Professor and Section Head of Neurosurgery at AKUH, commented on the impact of this innovation: "3D-printed PEEK implants are a game-changer in surgery, not only improving the accuracy of surgeries but also offering better integration with the human body, leading to faster recovery times and improved patient outcomes."

AKUH is currently the only hospital in Pakistan that designs and manufactures 3D-printed PEEK implants in-house, using a state-of-the-art facility which has been formally approved by the Drug Regulatory Authority of Pakistan (DRAP). The process followed to manufacture these implants meet GMP standards which means these implants are of the same standards as available anywhere in the world. Additionally, the PEEK material used in these implants is FDA-approved, a testament to their adherence to international safety and quality benchmarks. With DRAP approval and internationally recognized PEEK material, AKUH guarantees that patients receive implants that meet rigorous global quality standards.

Dr. Saleem Sayani, Director of the Technology Innovation Support Centre at AKU, added, "With in-house production, we can customize implants with precision, offering world-class treatments that were previously unavailable in Pakistan."

Local manufacturing at AKUH also significantly lowers patient costs by eliminating dependency on expensive imports. This development makes high-quality treatments more accessible, providing much-needed relief especially for low- and middle-income patients.

Dr. Asim Belgaumi, Chief Medical Officer of AKUH, Pakistan, praised this development, stating, "The introduction of our own manufactured PEEK implants not only elevates our surgical capabilities but also marks a vital step in making high-quality medical treatment accessible at a much lower cost for the people of Pakistan. This represents a new era in healthcare where advanced, patient-specific solutions are within reach for everyone."

In addition to enhancing healthcare accessibility, AKUH's local production of PEEK implants also benefits the environment. With reduced reliance on international shipments, the carbon footprint associated with transporting implants is minimized, supporting sustainable healthcare practices.

Since introducing the PEEK implant procedure, AKUH has successfully treated 14 patients with 3D-printed implants, witnessing firsthand the positive impacts on patient recovery and quality of life. Currently, the hospital employs PEEK implants for cranial reconstruction, maxillofacial surgeries, and other non-weight-bearing bone procedures. Looking ahead, AKUH's team of surgeons, biomedical engineers, and researchers is dedicated to expanding the use of these implants across a wider range of surgeries, aiming to further elevate patient outcomes.

The introduction of 3D-printed PEEK implants at AKUH marks a turning point in Pakistan's healthcare landscape, making advanced, personalized care more affordable and accessible. This initiative reflects AKUH's ongoing commitment to delivering healthcare that meets—and often exceeds—global standards, profoundly impacting the lives of countless patients across Pakistan.

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Spotify Reports Strong Financial Growth with 19% Revenue Surge

Spotify continues user and Premium subscriber growth in Q3

Karachi: Last night, Spotify released its Q3 2024 earnings, continuing to showcase its strong performance as the most popular audio streaming subscription service.

For the quarter ended in September 2024, Spotify's monthly active users grew 111% Y/Y to 640 million. At the same time, the number of subscribers overall also climbed 12% Y/Y to 252 million depicting brand love and discovery among music listeners across the world.

Spotify's financial performance continues to hold steady as well during the year with total revenue going up 19% Y/Y to €4 billion. The platform reported record-high gross margin, expanding to reach 31.1%, while Gross Profit continued to surpass €1 billion for the second quarter in a row. Operating Income also improved to a new quarterly high of € 454 million. 

Daniel Ek, Spotify Founder & CEO, said, "We've never been in a stronger position, thanks to the outstanding execution by our team. I'm incredibly proud of the way we've delivered and the progress we've made. We're where we set out to be—if not a little further—and on a steady path toward achieving our long-term goals. This relentless pursuit of innovation and commitment to growth sets us up to deliver the most valuable user experience in the industry, while reinforcing the core strengths that make Spotify unique. I am very excited about what lies ahead for us."

Review the full earnings release here. Watch here Spotify's CEO, Daniel Ek, and their new CFO, Christian Luiga, share their takes on the performance this quarter. 

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Abhi & TPL Corp receive approval to acquire FINCA Microfinance Bank

Karachi: In a groundbreaking development, Abhi Private Limited and TPL Corp Limited have received approval from the State Bank of Pakistan to jointly purchase FINCA Microfinance Bank Limited.

The strategic alliance between Abhi and TPL Corp aims to reshape financial inclusion efforts across Pakistan by combining FINCA's extensive microfinance network and expertise with Abhi's innovative digital solutions and TPL Corp's presence in retail, insurance and technology sectors. By bringing together these complementary strengths, the partnership is set to diversify and expand access to financial products and services that cater to underserved communities, including rural populations, small businesses, and lower-income individuals.

Over the last decade, FINCA Pakistan has empowered millions of Pakistani families through lending, savings, and financial education. FINCA Pakistan has consistently been recognized for customer experience excellence and has brought several innovations to the microfinance market, including the country's first mobile network-agnostic digital wallet. With a presence in more than 100 cities throughout the country, the bank has made significant advancements in supporting women entrepreneurs.

The new entity will offer a broad range of innovative financial products. These solutions will provide individuals and small businesses with the financial tools they need to thrive, furthering Pakistan's journey toward greater economic empowerment and inclusion.

"At Abhi, we've always believed in creating accessible financial solutions for everyone," said Omair Ansari CEO & Co-founder of Abhi. "By joining forces with TPL, we're making a stride towards expanding our reach and delivering impactful financial products to millions of Pakistanis who have previously lacked access to essential services."

The acquisition aligns with TPL Corp's vision of driving innovation in financial services. With TPL's diverse business portfolio and FINCA Pakistan's established presence and deep knowledge of the market, the combined entity is well-positioned to introduce customer-focused solutions that can make a tangible difference in underserved regions.

FINCA Microfinance Bank customers will experience a seamless transition, with enhanced access to a more comprehensive suite of financial services in the near future. The acquisition will allow customers to benefit from Abhi's digital-first platform, aimed at making banking services more accessible.

"FINCA Pakistan delivered on its promise to develop a nationwide microfinance network that is creating economic opportunity throughout Pakistan, especially for women," said Jeff Smith, Chair of the FINCA Pakistan Board of Directors. "Abhi and TPL share FINCA's commitment to expanding access to financial services for small entrepreneurs. The infusion of new capital and more comprehensive digital services have the potential to significantly accelerate financial inclusion in Pakistan."

Looking ahead, Abhi, TPL, and FINCA plan to focus on delivering a new range of financial products tailored to underserved communities, driving financial inclusion and contributing to the nation's economic growth. Further updates on new offerings and services will be shared in the coming months.

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