Cars’ sale increase 58% in July 2024
The sale of cars during the first month of the current financial year 2024-25 has increased by 58.21 percent as compared to the same month of last year, according to the data released by Pakistan Automobile Manufacturing Association.
Adil Aziz
CCP imposes Rs.60 Million penalty on a multinational for deceptive marketing
The Competition Commission of Pakistan (CCP) has passed an order imposing a fine of Rs 60 million on Unilever Pakistan for airing deceptive claims through television commercials for its hygiene and cleansing products, ‘Lifebuoy (Care and Protect) Soap’ and ‘Lifebuoy Hand Wash’.
Pakistan’s remittances hit $3 billion
Inflow of overseas workers’ remittances clocked in at nearly $3 billion in July, a massive 48 percent higher on a year-on-year basis when compared with $2.03 billion in the same month of the previous year, according to the statement by the State Bank of Pakistan.
Editor
JS Bank wins leading Digital Bank Award
JS Bank, one of the fastest growing banks in Pakistan, has been awarded the Leading Digital Award accolade at the CxO Elevate 2024 Awards. JS Global, a subsidiary of JS Bank, has been recognized with the Digital Investment Transformation Award.
Mehfooz
SBP will closed on 14 August on the occasion of Independence Day
The State Bank of Pakistan will remain closed on Wednesday, August 14, 2024 being public holiday on the occasion of ‘Independence Day’ as declared by the Government of Pakistan.
Jazz partners with GSMA innovation fund for support high-potential startups
Jazz, Pakistan’s leading digital operator, through its startup accelerator program ‘xlr8’, has partnered with the GSMA Innovation Fund to identify and support high-potential startups, especially in emerging technologies like artificial intelligence (AI), health, education, entertainment, and digital lifestyle.
Mobilink Bank introduces affordable E-bike loans for a greener future
Mobilink Bank has recently announced the launch of E-Bike loans. This initiative, aimed at empowering individuals with accessible and eco-friendly transportation options, was formalized through a Memorandum of Understanding (MoU) with PakZon Electric Motors (Pvt) Ltd., Pakistan’s leading electric bike manufacturer. Through this offer, the Bank is extending exclusive benefits to all its customers, including a 6% discount on E-bikes purchased through PakZon dealerships, three complimentary checkups at PakZon 3S dealerships, and a one-year battery warranty for two, three and four-wheelers. These benefits are designed to make E-bike ownership more affordable and convenient.
SECP alerts public to fraudulent trading platform Aviva Investment Group
The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal trading platform operating under the name “Aviva Investment Group/ H1- Aviva Securities Exchange Academy/ Aviva Investment Limited “. The platform is being promoted through various WhatsApp groups and social media channels and is falsely claiming\substantial returns on trading in the Pakistan Stock Exchange and international stock markets.
Hexalyze expands operations to Singapore
Hexalyze, a leading Pakistan-based IT solutions provider, has become one of the few IT companies in Pakistan having expanded its operations to Singapore. This strategic move marks a significant milestone in the company’s growth journey, aiming to enhance its global footprint and better serve its diverse clientele through establishment of a regional office in Southeast Asia to tap different markets, including Singapore, Indonesia, Malaysia, Brunie and others.
Jubilee Life Insurance Hosts University Challenge, Empowering Future Leaders in the Insurance Industry
Jubilee Life Insurance, Pakistan’s largest private sector insurance company, hosted the Jubilee Life Insurance University Challenge (JLIUC) at the British Deputy High Commission in Karachi. This transformative initiative, established in collaboration with SEED Ventures, aims to empower students from Karachi’s top universities by providing them with a platform to present their innovative research and products designs focused at transforming Pakistan’s insurance segment. The competition, which offered students the opportunity to be mentored by industry professionals in various domains to craft innovative insurance products, culminated in this grand event where finalists competed for a cash prize of PKR 150,000 and an internship opportunity at Jubilee Life Insurance.