Browsing: Business

Regal Automobile (DFSK) is poised to introduce the SERES 3 Electric Vehicle in Pakistan, catering to the growing demand for electric cars amidst escalating fuel costs. Priced between Rs. 9,599,000 and Rs. 11,799,000, the EV offers a noteworthy 400 km range and the convenience of home charging, making it an attractive and eco-friendly option.

Indus Motor Company is set to introduce locally-produced Corolla Hybrid Electric Vehicles in Pakistan by December, with a substantial $100 million investment aiming to cut import costs and promote sustainability. Despite challenges like high taxation and imported used cars, IMC remains committed to advancing the nation’s auto industry.

Bank Alfalah’s AlfaMall revolutionizes the 11.11 Sale Day with a 0% markup ‘Buy Now, Pay Later’ feature, making genuine products more accessible. With discounts up to PKR 10,000 and flexible monthly instalments, it redefines the shopping experience for diverse consumers.

The Pakistan Stock Exchange (PSX) reached a record-breaking 55,253.19 points during intraday trading, reflecting a 1.83% increase driven by positive investor sentiment amid expectations of a successful IMF review and stable economic indicators. The market’s resilience is attributed to factors like attractive valuations and robust domestic institutional buying.

Caretaker Federal Minister Dr. Shamshad Akhtar highlighted the success of the Asaan Mobile Account initiative during the Pakistan Spotlight Day at the WEF – Edison Alliance event, resulting in 8.5 million new bank accounts, including 3.2 million for women. She also commended the 1 Billion Lives Challenge’s achievements and stressed the crucial role of replicating such initiatives in sectors like healthcare and education across developing economies.

Remittances from overseas Pakistanis surged by 10% YoY to $2.46 billion in October 2023, reaching the highest level since March 2023. Notably, inflows from top contributors Saudi Arabia, the UAE, and the US increased, though the cumulative remittances for the first four months of fiscal year 2023-24 declined by 13% to $8.79 billion.

China has granted approval for the export of Pakistani milk and dairy products, including cow’s and camel’s milk, starting from November 6. Stringent requirements cover various aspects, from animal sourcing to processing and labeling.

Digitt+ is reshaping agri-fintech in Pakistan, providing farmers with tailored financial solutions. With a strong focus on financial inclusion, it aims to empower the agricultural community with technology-driven innovations.

National Foods secures four accolades, with three from the Dragons of Pakistan and one from Dragons of Asia, showcasing their marketing prowess in the FMCG sector. These awards underscore their global impact and leadership in enriching lives.

PSX hits a record high, surpassing 54,000 points, fueled by optimism in IMF negotiations, monetary policy expectations, and the prospect of political stability ahead of elections. IMF’s review mission may lead to a $700 million tranche release by December 2023 if talks prove successful.