Author: yasir

The Emirates Group today announced its best-ever half-year financial performance, posting a profit before tax of AED 10.4 billion (US$ 2.8 billion) for the first six months of 2024-25, surpassing its record profit before tax for the same period last year. This is the first financial year that the UAE corporate income tax, enacted in 2023, is applied to the Emirates Group. After accounting for the 9% tax charge, the Group’s profit after tax is AED 9.3 billion (USD 2.5 billion). Demonstrating its strong operating profitability, the Group maintained a robust EBITDA of AED 20.4 billion (US$ 5.6 billion), slightly…

InfraZamin Pakistan, Pakistan’s premier credit enhancement guarantor, in collaboration with the State Bank of Pakistan (SBP), Pakistan Banks’ Association (PBA), and the Private Infrastructure Development Group (PIDG) hosted a seminar titled Enabling Green Financing and Green Bonds via Credit Enhancement Solutions today at a local hotel. The high-profile event brought together top officials from the State Bank of Pakistan and Ministry of Finance, CEOs, and investment heads from leading commercial banks in Pakistan, to discuss the potential of green financing, particularly green bonds, to accelerate sustainable economic growth in the country through support from the private sector. The seminar featured…

Meezan Bank Partners with Trifit Gym to Offer Premium Cardholders Unmatched Fitness Discounts Meezan Bank, Pakistan’s leading Islamic bank, has recently entered into an exclusive partnership with Trifit Gym, a world-class fitness club in Karachi and Islamabad, to offer its premium cardholders a significant discount on fitness packages. Through this collaboration, Meezan Bank’s Premium Cardholders will be able to enjoy up to 50 percent discount on Trifit packages at any Trifit Gym location, giving them access to top-tier fitness facilities at a fraction of the usual cost—representing savings of over PKR 80,000 annually. With this unique partnership, Meezan Bank is…

Pakistan’s IT companies and fintech operators are looking tograb business opportunities in the fintech sector worldwide, expandingtheir footprint in different countries, attracting investment, andwinning projects against their innovative services and products, whichis depicting the participation of over ten companies in the mostsignificant global event—Singapore Fintech Festival.Over 10 tech companies are participating in the Singapore FintechFestival, which will be held from November 6 to 8. Pakistan’s HighCommissioner to Singapore, Rabia Shafiq, inaugurated the pavilion ofHexalyze Consulting Services at the festival.Saad Shah, CEO Hexalyze Consulting Services and one of the PakistaniIT companies attending the festival, said the presence of Pakistanicompanies increased this…

Mobilink Bank, Pakistan’s leading digital microfinance institution, was celebrated with multiple prestigious awards at VEON Ignite 2024. This annual gathering brings together over 200 global leaders from VEON’s extensive network, focusing on driving digital innovation and future strategies. Mobilink Bank’s accomplishments in digital financial services, community investment, and Diversity, Equity, and Inclusion (DEI) highlight its continued efforts to redefine financial accessibility in Pakistan. Haaris Mahmood Chaudhary, Interim CEO Mobilink Bank, expressed his pride in this achievement, stating, “The Financial Services Award signifies our vision of a connected and inclusive financial ecosystem, where everyone can access essential services at any time.…

Garaj, Pakistan’s leading cloud services and cybersecurity solutions provider by Jazz, has partnered with Standard Chartered Bank to create a regional availability zone in Pakistan. This strategic initiative will enhance Standard Chartered’s operational resilience and customer experience across multiple countries, reinforcing its commitment to digital transformation and streamlined global data center operations. Through Garaj’s advanced infrastructure, Standard Chartered will host its core IT and banking systems within Pakistan, ensuring high availability and secure data handling that meets stringent TIA-942 global protocols. The setup will leverage Garaj’s Rated-3 facilities to support the Bank’s operations with robust systems, providing business continuity in…

Aga Khan University’s Dr Zafar Fatmi has co-authored a new paper published in the Lancet Planetary Health, highlighting the urgent need to eliminate lead from the global economy. The study, led by Stanford University and co-authored by experts from renowned institutions including AKU, Johns Hopkins Bloomberg School of Public Health, University of Southern California, and the Centre Scientifique de Monaco, presents compelling evidence for a swift global phaseout of lead. “Why do we allow trillions of dollars of damage to human health, entire ecosystems, and the global economy to accrue for the sake of $100 billion in benefits?” asks…

Unilever’s ‘Sustainability Accelerated’ strategy targets immediate action on climate, livelihoods, and innovation Unilever Pakistan launched its ambitious and refocused strategy, ‘Sustainability Accelerated’, aimed at driving accelerated action on sustainability, focused on climate action, plastics circularity, nature regeneration and better livelihoods. For over two decades, Unilever has been at the forefront of sustainability efforts, which have made the company stronger and more resilient. With the introduction of Sustainability Accelerated, Unilever is entering the third era, where business growth is closely tied to responsible environmental and social practices. The event, hosted at the Unilever Pakistan Head Office, brought together key stakeholders, government…

InfraZamin is pleased to announce a partnership with Sundridge Foods Limited in launching a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument will be issued by Sunridge Foods Limited, a subsidiary of Unity Foods Limited. InfraZamin Pakistan, with a long-term credit rating of AAA, provides an additional layer of security for investors participating in the Sukuk. The Sukuk will be fully principle protected with InfraZamin’s Guarantee. The proceeds raised through the Sukuk will fund Sunridge Foods’ Balancing, Modernization, and Replacement (BMR) initiatives, which aim to modernize production facilities with sustainable, high-efficiency technologies. Notably, the BMR also includes installation of…

TCL, Pakistan’s No. 1 LED TV brand is thrilled to announce its highly anticipated Daraz 11.11 Sale, offering Pakistan’s biggest discounts of the year. From November 11 to November 21, customers can enjoy huge savings of up to Rs. 36,000 on a wide range of TCL and IFFALCON products, along with exclusive vouchers and bank discounts that bring even more value. This exciting event promises limited-time offers, including the iFFALCON S53, U62, and U64 series, as well as the TCL S5400 and V6B series, with savings of up to Rs. 17,000! In addition to these incredible discounts, customers can also…