Economic confidence among finance professionals edges higher globally despite big fall in North America

                                                          

The latest ACCA (the Association of Chartered Certified Accountants) and IMA^® (Institute of Management Accountants)  Global Economic Conditions Survey (GECS) suggests that confidence among accountants and finance professionals edged slightly higher in Q2 2024 and is just above its historical average. For chief financial officers (CFOs), all the key global indicators rose, with sharp gains evident in the New Orders and Capital Expenditure indices.

 

There were some notable regional differences. Western Europe-based accountants reported another decent increase in confidence as the euro area and UK economies continue to stage recoveries. Even Asia Pacific saw a small rise off the back of a huge gain previously, and the New Orders Index increased strongly. The region is benefitting from improvements in the global economy, including in the manufacturing sector and the upward moving technology cycle. However, North America’s financial professionals reported a sharp fall in confidence, which was even more pronounced in the U.S.

 

The proportion of global respondents reporting ‘increased costs’ eased in Q2 but remains elevated by historical standards. Cost pressures remain high in all regions except the Middle East.

 

The GECS also asks accountants to rank their top three risk priorities and, for the first time in a year, the economy is not the top concern for respondents working in financial services, although it is close to the highest it has ever been for those in the corporate sector. The Q2 survey responses also reveal how organisations are increasingly struggling to get a grip on cybersecurity, which was ranked as the third-highest risk priority for all sectors combined.    

 

Alain Mulder, Senior Director Europe Operations & Global Special Projects at IMA^® said: ‘The American economy has slowed from the heady pace of expansion in the second half of 2023, and the latest results raise the risk of some further moderation over coming quarters. The probability that the U.S. Federal Reserve begins easing monetary policy after the summer has increased, although inflation developments over coming months will be crucial.’

 

Jonathan Ashworth, Chief Economist, and ACCA, said: ‘The GECS points to some further improvement in the global economy in Q2. Further signs of a pickup in the important Western European and Asia Pacific regions are encouraging, although the decline in the North American and U.S. indices bear watching closely.’

 

Confidence is significantly higher than its historical average in Asia Pacific, slightly above in the Middle East and Western Europe, at its average in South Asia, slightly below average in Africa, and well below average in North America.

 

Ashworth concluded: ‘Despite the resilience of the global economy so far in 2024, many important downside risks and challenges remain. Sticky inflation could limit central banks’ scope for monetary easing, while geopolitical and political risks remain very elevated and will continue to create significant uncertainty.’

Pak-Qatar General Takaful Limited and Yousuf Dewan Group Offers Motor Takaful for Shehzore and New EV Honri

               

Pak-Qatar General Takaful Limited (PQGTL), a leading provider of Shariah-compliant General Takaful solutions in Pakistan and Yousuf Dewan Group have entered into a strategic Memorandum of Understanding to introduce a groundbreaking auto Takaful product tailored specifically for the newly launched electric vehicle Honri – both variants 2.0 and 3.0 – and Shehzore by the Auto Division of Yousuf Dewan Group.

This partnership marks a significant milestone as an auto assembler in Pakistan partners with a dedicated General Takaful operator, offering comprehensive Takaful coverage for electric and commercial vehicles.

The MoU, signed by the Chairman of Yousuf Dewan Group Mr. Dewan Muhammad Yousuf and CEO of Pak-Qatar General Takaful, Mr. Saqib Zeeshan, underscores their commitment to innovation and customer-centric solutions in the automotive sector. The signing ceremony was also attended by Mr. Kamran Saleem, Director, Pak-Qatar Group, Dr. Usman Hayat, Group CEO Yousuf Dewan Group, Mr. Mehmood Arshad, Executive Director Pak-Qatar Takaful, Ms. Saleha Hasan, Head of Marketing, Yousuf Dewan and other senior officials from both organizations.

Mr. Saqib Zeeshan, CEO of PQGTL, expressed enthusiasm about the partnership, "We anticipate forming a lasting partnership with Yousuf Dewan Companies to expand our Takaful coverage to include electric vehicles, alongside private and commercial vehicles. This collaboration will ensure a significant milestone in elevating motor Takaful coverage, offering comprehensive coverage for a wider audience of vehicle owners nationwide."

Mr. Dewan Muhammad Yousuf, Chairman of Yousuf Dewan Group, emphasized the strategic benefits of this partnership, "We are pleased to join hands with Pak-Qatar General Takaful to enhance customer satisfaction through motor Takaful coverage for our electric and commercial vehicles. This partnership is a testament to our commitment towards delivering exceptional Takaful protection and service excellence to our valued customers."

The newly launched Honri EV by Eco Green Motors Limited represents a pioneering leap forward in the local automotive industry, combining advanced technology with environmental sustainability. The exclusive auto Takaful product offered through this collaboration aims to provide peace of mind to customers, covering various aspects including theft, damage, and third-party liability.

Dejavu for Tractor parts industry in a FBR created crisis: PAAPAM

                                                        

The tractor manufacturing and parts industry faces a significant crisis, threatening the stability and future of a sector that plays a crucial role in the national economy. With a substantial export value of $20 million, a robust vendor base of 200, and an employment figure reaching 200,000 the industry has achieved an impressive 95% localization.

The imposition of a 10% sales tax on tractors, effective from the budget announcement in June 2024, has exacerbated the situation. Previously, tractors were exempt from sales tax until June 2024, ensuring smooth operations and financial stability for manufacturers like Millat Tractors Limited (MTL). The new tax policy has pushed MTL back into the refund regime, reminiscent of the challenges faced post-2012 when SRO 363 established a refund mechanism that processed refunds efficiently within three months.

In 2022, the introduction of SRO 563 (1)/2022 complicated matters further by imposing conditions on the buyer of tractors. The refund benefit was limited to farmers owning land with valid documentation, excluding many who could not meet these stringent requirements. Since then, despite fulfilling the stipulated conditions, the industry has not received due refunds, causing severe financial strain.

A delegation from the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), led by Chairmen, Mr. Abdul Rehman Aizaz, Senior Vice President Mr. Mumshad Ali, along with Mr. Irfan Qureshi, Mr. Rehan Riaz, Mr. Shahab Saleem, Mr. Jawaid Hafeez, and Mr. Anas Haroon visited the Millat Tractors Sheikhupura Plant to address these pressing issues.

Mr. Abdul Rehman Aizaz and Mr. Mumshad Ali highlighted the urgency of the situation, stating, "Since the budget announcement, the mechanism for processing sales tax refunds has not been notified by the Federal Board of Revenue (FBR) despite numerous letters and appeals. Consequently, MTL operations have been halted since July 1st with no orders or invoices issued, causing significant financial losses as compared to the last Year sales of 30,000 units.

The delegation urges the Ministry of Finance (MOF) to intervene and ensure that the FBR establishes an efficient refund process, similar to the one under SRO 363(i)/2022. The failure to address these issues promptly could have detrimental effects on Pakistan's agriculture sector, which heavily relies on the timely availability of tractors and related machinery.

CBD PUNJAB CHAMPIONS SUSTAINABLE DEVELOPMENT AT UNEP WORKSHOP IN DUBAI

                                              

Punjab Central Business District Development Authority (PCBDDA) also known as Central Business District Punjab (CBD Punjab), a leader in transformative urban development projects, participated in the United Nations Environment Programme (UNEP) technical study and workshop on District Cooling Systems held in Dubai. This prestigious event was hosted by Empower, a renowned leader in district cooling services, in collaboration with Tabreed, a key player based in Abu Dhabi. The workshop gathered global experts and industry leaders to explore innovative solutions and best practices in district cooling systems, which are essential for sustainable urban development.

CBD Punjab was represented by Director Project Management, Asif Iqbal, and Deputy Director Deputy Director Renewable Energy & Smart City Solutions, Yasir Khattak. Their presence underscored CBD Punjab's commitment to integrating advanced cooling technologies and sustainable infrastructure within its ongoing and future projects. As advocates for sustainable development, Asif Iqbal and Yasir Khattak actively engaged in in-depth discussions and collaborative sessions with industry leaders, including the CEO of Empower and other distinguished participants from various countries. These interactions highlighted CBD Punjab's dedication to adopting global best practices and contributing to environmentally friendly urban environments.

The UNEP workshop provided an invaluable platform for knowledge exchange, focusing on the significance of district cooling systems in creating energy-efficient urban landscapes. These systems, which leverage centralized cooling plants to distribute chilled water through an underground network of insulated pipes, significantly reduce energy consumption and greenhouse gas emissions. 

During the event, Director Project Management, CBD Punjab, Asif Iqbal, expressed his thoughts on the importance of district cooling systems. He stated, "We are honored to be part of this significant initiative by UNEP. District cooling systems are essential for creating energy-efficient and environmentally friendly urban environments. Our participation reflects CBD Punjab's dedication to adopting global best practices and contributing to sustainable development. He highlighted that CBD Punjab is committed to incorporating these cutting-edge technologies to enhance the quality of life for its communities while minimizing the environmental footprint of its projects.

Deputy Director Renewable Energy & Smart City Solutions CBD Punjab, Yasir Khattak also shared his insights on the workshop. He noted, "The workshop provided invaluable insights into cutting-edge district cooling technologies. Collaborating with international experts enhances our ability to implement smart and sustainable solutions in Punjab, benefitting both the environment and our communities.

By leveraging expertise from global leaders, CBD Punjab aims to implement innovative solutions that align with international standards and practices, ensuring that its projects are not only sustainable but also resilient and adaptable to future challenges. CBD Punjab’s involvement in this workshop exemplifies its proactive approach towards sustainable urban development. By participating in global forums and engaging with international experts, CBD Punjab is poised to lead the way in implementing advanced cooling technologies and sustainable infrastructure in its projects.

Syngenta Pakistan’s ‘CropWise Grower’ App becomes the biggest Agri-Tech app of Pakistan with 600K+ Downloads

                                                    

Syngenta Pakistan, a leading agriculture innovation and technology company that provides crop protection, seeds, and digital services to millions of Pakistani farmers, has introduced ‘Cropwise Grower’ application - a free-of-cost, highly innovative digital solution to engage & advise the Pakistani farmers to enhance their farm productivity. Within 1 year, the ‘Cropwise Grower’ has become Pakistan's Fastest Growing Agri-Tech App, offering multiple features including instant detection & diagnosis of crop-diseases, pests or other threats to the farmers’ crops.

At the time of this publication, it is the Top Trending App on ‘Android Play Store’ in the ‘Education Category’ with 600,000+ downloads, covering over 4 million acres of farmland. Cropwise Grower app offers multiple features, including instant detection and diagnosis of crop diseases, pests and other threats to the crops. The App’s ‘scan, detect and diagnose’ feature called Crop Doctor is powered by the most advanced Artificial Intelligence (AI) based mechanism, which provides a one-stop solution to farmers to identify crop problems and address these problems efficiently. Besides recommending products suitable for various crop-growth stages, it provides crop-management information and tutorials on the timely identification of pests and diseases. The farmers can also avail other services, including; Area-specific weather alerts and Crop Advisory accessible through the WhatsApp link and Toll-Free Number of this App. A crop calendar can be downloaded, along with details about pests, diseases, nutrients, Syngenta products and other relevant data, to help the farmers take timely actions to keep the crops healthy, from sowing to harvest.

‘Cropwise Grower’ offers several other valuable facilities such as an e-commerce module for online ordering of products, ‘Naya Savera’ franchise locations and a deeper understanding of spraying windows based on localized weather information and evolving environment. The e-commerce feature of this App – ‘Naya Savera Online’ has garnered significant traction from the farmers who have utilized this feature to order Syngenta’s best-in-class products for delivery at their farmgate.

Speaking on the occasion, Zeeshan Hasib Baig (Country General Manager, Syngenta Pakistan) said: “Syngenta Pakistan’s core strength lies in its close relationship with the growers. We are thrilled to share this important milestone which is a testament to the hard work of our team and the incredible support of our farmers.  To further bring smart solutions closer to farmers and to enable them to be more self-sufficient, we will continue to provide the best services to our growers as we reach even greater heights.”

Infinix GT 20 Pro: From Times Square to PUBG Mobile World Cup Champ

                                                     

Infinix has teamed up with champion players from the PUBG MOBILE Super League (PMSL) in Europe, the Middle East, Africa (EMEA), and Central and South Asia (CSA) regions to take over a massive billboard in New York's Times Square, announcing Infinix's upcoming participation in the 2024 PUBG MOBILE WORLD CUP (PMWC). 

As the official gaming phone for the 2024 PMSL EMEA and CSA seasons, the Infinix GT 20 Pro has consistently delivered exceptional gaming experiences to team players. Its impressive performance has earned unanimous endorsement from the players, leading to its prominent placement on the Times Square billboard.

GT 20 Pro Shines in Times Square

New York's Times Square, known as the "Crossroads of the World," is a bustling commercial district and a coveted showcase for global brands. The towering billboards of Times Square, capturing worldwide attention, represent the ultimate aspiration for many brands to be featured. Infinix's GT 20 Pro recently appeared in Times Square, highlighting its exceptional gaming prowess and reinforcing Infinix's leadership in the esports industry. This move further enhances the brand's global influence.

Taking on the Esports World Cup

The 2024 PUBG MOBILE WORLD CUP (PMWC) and ESPORTS WORLD CUP stand as the first grand event in the PUBG MOBILE esports ecosystem, with only teams that have endured rigorous challenges in the PUBG MOBILE regional series tournaments earning the coveted qualification to compete in the 2024 PMWC. This globally acclaimed "Esports World Cup" event brings together champions and top-tier teams from various PUBG MOBILE regional tournaments. Representing their respective regions and fans, they will battle it out for the title of 2024 PMWC champions and prepare for their journey to the year-end global finals, PMGC.

Infinix GT 20 Pro will continue to empower teams and players from across the PMSL regions as they embark on their PMWC adventure. We look forward to witnessing their continued exceptional performances in the upcoming PMWC matches and anticipate their even greater success!

According to the PMSL CSA Champion Team and MVP, "Our biggest impression after using the Infinix GT 20 Pro for a month is its ultra-high frame rate, efficient heat dissipation, and uninterrupted gameplay throughout. As hardcore Infinix GT series phones fans, we will continue to fight alongside the GT 20 Pro and claim victory at PMWC!"

Showcasing Gaming Prowess

The Infinix GT 20 Pro boasts cutting-edge features, powered by the Pixelworks X5 Turbo dedicated gaming display chip, marking it as Infinix's first dual-chip smartphone. This innovative chip utilizes Motion Estimation and Motion Compensation (MEMC) game frame rate interpolation to boost the frame rate from 60FPS to an astounding 120FPS. The Infinix stable frame rate engine optimizes heat and power consumption, ensuring smooth and efficient performance. X-BOOST provides continuous performance management, utilizing vertical synchronization technology to prevent screen tearing and prioritizing game resources for the smoothest gaming experience. As the official smartphone for the 2024 PMWC, the Infinix GT 20 Pro will continue dominating the battlefield with its exceptional "dual-chip" power, cutting-edge technology, and deep collaboration with PUBG MOBILE, aiming for even greater peak performance. Infinx GT 20 Pro bundled with a PUBGM card featuring customized in-game items like a parachute, T-shirt, red rose skin, and weapon skin, all for 280USD- a 25USD savings. Delivering unrivaled performance, innovative design, and breakthrough features, the Infinix GT 20 Pro caters to every gaming need, ensuring you have everything required to outplay the competition.

 

CBD PUNJAB CEO PUSHES FOR EXPEDITED COMPLETION OF WALTON ROAD PROJECT

                                                         

CEO Central Business District Punjab (CBD Punjab), Imran Amin, chaired a comprehensive review meeting to assess the progress of the Walton Road Upgradation Project. This pivotal initiative is set to significantly enhance the infrastructure of Punjab's provincial capital. The meeting was attended by Executive Director Technical CBD Punjab Riaz Hussain, Director of Architecture and Planning Samir Aftab Sial, and official contractors of the project.

Executive Director Technical CBD Punjab, Riaz Hussain, provided an extensive briefing on the project's progress, highlighting key milestones achieved. Notably, the completion of the main trunk sewer and the remodeling of the ADA Nullah were reported. The ADA Nullah will soon be connected with the newly constructed nullah, marking a critical step forward. Additionally, the sub-base work on Walton Road is completed, with the water-bound layer currently in progress. Disposal stations are also set to become functional in the coming days, further facilitating project completion.

A significant highlight of the meeting was the update on the Major Ishaq Shaheed Flyover, which is now 85% complete, with shuttering removal scheduled soon. This major infrastructure component is crucial for improving traffic flow and connectivity in the area.

Following the review meeting, CEO CBD Punjab Imran Amin conducted an on-site inspection of the under-construction Walton Road and Major Ishaq Shaheed Flyover. During his visit, he lauded CBD Punjab's proactive measures that effectively prevented water accumulation on Walton Road during the recent monsoon season. This accomplishment underscores the authority’s commitment to operational excellence and community well-being. CEO CBD Punjab emphasized the need to expedite the project, instructing an increase in workforce and machinery to ensure timely completion, in accordance with the directives of Chief Minister Punjab, Maryam Nawaz..

"Completing the Walton Road Upgradation Project is a top priority for CBD Punjab. We are dedicated to enhancing Lahore's infrastructure to better serve its residents and support the city's growth. Our proactive measures during the monsoon season demonstrate our commitment to excellence and community well-being. We will continue to work diligently to ensure this project is completed on time and to the highest standards," said Imran Amin, CEO CBD Punjab.

The Walton Road Upgradation Project is poised to set new benchmarks in urban development, contributing to sustainable growth and improved quality of life for Lahore's residents. CBD Punjab remains committed to transforming visions into tangible, lasting improvements for the community.

Mahana Bachat & Takaful Flexi Plan – An innovative Shariah-compliant investment-linked Takaful plan by Pak-Qatar Family Takaful

                                           

 Pak-Qatar Family Takaful Limited (PQFTL) has launched a one-of-a-kind Shariah-compliant investment plan by the name of Mahana Bachat & Takaful Flexi Plan (MBTP).

MBTP offers members 100% Shariah-compliant returns with a minimum contribution amount of PKR 50,000. Participants can further increase their returns through regular top-up contributions as low as PKR 1,000 per month. The plan allows for easy online withdrawals, both partial and permanent. Participants may also withdraw profit in the form of an additional steady monthly income. The benefit that stands out among all other benefits is that it includes complimentary Takaful coverage of up to PKR 30 million or 6-multiple of the last 3 months’ average cash value, whichever is lower.

Beyond these key benefits, MBTP offers discounts on other Takaful covers, including a discounted rate of 1.35% on motor, 25% discount on travel, 20% on home, 50% on individual health, and 50% on additional life Takaful. This unique value proposition sets MBTP apart from similar plans in the country.

"We are pleased to offer this unique plan which is a Shariah-compliant investment-linked Takaful plan that caters to the growing demand for financial security and flexibility. It offers unmatched value with its combination of competitive returns, easy onboarding and withdrawals, with complimentary Takaful coverage.” said Mr. Waqas Ahmad, CEO of Pak-Qatar Family Takaful Limited. “We have also introduced an easy-to-use mobile app for the servicing of the plan. This is a reflection of our commitment to developing innovative Shariah-compliant solutions that empower our members to achieve their financial goals.”

NEWLY APPOINTED PAKISTANI AMBASSADOR TO THE UNITED STATES, RIZWAN SAEED SHEIKH, VISITS CBD PUNJAB

                  

AMBASSADOR SHEIKH AND RENOWNED BUSINESSMAN TAHIR JAVED DISCUSS COLLABORATION WITH CEO IMRAN AMIN TO PROMOTE CBD PUNJAB PROJECTS IN THE U.S.

The newly appointed Pakistani Ambassador to U.S. Rizwan Saeed Sheikh, visited Punjab Central Business District Development Authourity (PCBDDA), also known as Central Business District Punjab (CBD Punjab) in a bid to discuss potential opportunities to attract foreign investment and foster relation between Pakistan and U.S. Accompanying him was the prominent business figure Tahir Javed. The visit was marked by a comprehensive briefing provided by Imran Amin, CEO of CBD Punjab, who outlined the various ongoing and planned projects under the CBD Punjab initiative.

The briefing session was attended by COO CBD Punjab, Brigadier (R) Mansoor Janjua, Executive Director Technical, Riaz Hussain, Director Marketing, Waseem Sadiq, and Director Architecture and Planning Sameer Aftab Sial. Each of these officials contributed insights into their respective domains, highlighting the integrated and multifaceted approach of CBD Punjab towards urban development and economic growth.

During the briefing, Ambassador Rizwan Saeed Sheikh underscored the transformative potential of CBD Punjab's projects. He stated, "CBD Punjab’s initiatives can be game changer for the region. These projects are equipped with all the features necessary to attract international investment." His comments reflected a strong endorsement of the vision and execution strategy of CBD Punjab, emphasizing the critical role these projects could play in regional development and international investment attraction.

CEO Imran Amin expressed his satisfaction and pride at the recognition received from the Pakistani Ambassador to the United States. He remarked, "It is encouraging to see the appreciation from our ambassador. We invite the American business community to invest in CBD Punjab’s projects, which will contribute to writing a new chapter of development for the province of Punjab.".

The discussion extended beyond mere appreciation and recognition, leading to actionable outcomes aimed at fostering closer ties between CBD Punjab and the American business community. One of the notable outcomes of the meeting was the agreement to establish a CBD Punjab NSIT Facilitation Desk within the Pakistani Embassy in Washington, D.C. This desk is envisioned as a dedicated resource to assist and facilitate American investors interested in exploring opportunities within the CBD Punjab projects. 

Additionally, the meeting concluded with a commitment from CBD Punjab to actively participate in business networking events in the United States. This participation is expected to provide CBD Punjab with direct access to the American business community, enabling it to showcase its projects, share insights, and build valuable connections. By engaging in these events, CBD Punjab aims to raise awareness about its initiatives, highlight the investment opportunities available, and attract a diverse range of investors.

Olympian and Four-time NBA Champion Tony Parker Named as Face of Alibaba.com’s Olympic Games Paris 2024 Campaign

                                                             

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today announced Tony Parker as a Global Ambassador for its “Same Player, New Game” creative campaign for the Olympic Games Paris 2024. Alibaba.com is the Official E-Commerce Services Partner of the Olympic Games Paris 2024.

As the world’s only truly global, multi-sport athletics competition, the Olympic Games brings together over 200 countries in more than 300 events. Just as the Olympic Games reaches a global audience, Alibaba.com—which connects B2B buyers and suppliers from over 200 countries and regions and offers services and business tools to enable businesses to discover products, find suppliers and place orders quickly—serves as a hub for ambitious individuals to go for gold in the world of commerce.

Alibaba.com’s Global Ambassador, Tony Parker, is a two-time Olympian who reached the quarterfinals of Men’s Basketball with France at the Olympic Games Rio 2016. Regarded as a legend of his sport, Tony is a four-time winner of the NBA and has been featured in the NBA All-Star team six times. However, Tony’s successful career goes beyond his sporting accomplishments. Since retiring from the game, he has become a serial entrepreneur and investor who has successfully bridged the divide between sports and business.

Reflecting this sentiment, the “Same Player, New Game” campaign will raise awareness of the opportunities for athletes and Olympians to transition from sporting success to entrepreneurship. As a Global Ambassador, Tony will highlight the ease at which aspiring entrepreneurs—including athletes and former athletes—can set up their own businesses, establish supply chains with buyers and sellers from around the globe, and drive long-term growth through Alibaba.com. 

In the campaign, Tony will be joined by Simona Galik Moore, a former Women’s Tennis Association professional, and Elias Schwärzler, the adrenaline-chasing mountain biker who—since 2022—has held the Guinness World Record for “Fastest Bicycle Towed by a Motorcycle.” Like Tony, both athletes have gone on to achieve success outside of sports. In 2020, Simona launched a professional pickleball brand driving interest in one of the most exciting new sports. Meanwhile, Elias is the founder and owner of a specialist mountain biking clothing brand and mountain biking academy. Both use Alibaba.com as an integral part of their businesses to source new products, forge new partnerships, and support growth. Each will also share more details of their journey from sporting stars to entrepreneurs in the run-up to the Games, including at a high-profile press event scheduled to take place on July 31 in Paris. 

Over the coming weeks, fans can also expect to see Alibaba.com’s Global Ambassadors featured in the run-up to and during the Olympic Games Paris 2024. Launching this month, the three Global Ambassadors will star in a new brand campaign highlighting Alibaba.com’s innovative approach to business.

Liz Wang, Global Head of Marketing, Alibaba.com, said: “To reach the pinnacle of your sport, you need to be self-motivated, disciplined, resilient and competitive—all traits that are also needed to be a successful entrepreneur. Tony Parker, Simona Galik Moore and Elias Schwärzler are inspiring examples of the transition from sports to business, and we are thrilled to welcome them to the Alibaba.com team during the Olympic Games Paris 2024.

“This is a fantastic opportunity to put a spotlight on the business opportunities available to former professional sportspeople, and how platforms such as Alibaba.com can help turn their entrepreneurial ambitions into reality.”

Tony Parker said: “Since retiring from professional sport, I’ve focused all my energy on running my own businesses.  I’m a regular buyer on Alibaba.com and have seen first-hand the huge value that can be created by connecting with suppliers and efficiently sourcing products through its innovative digital platform. Now, in my role as an ambassador for Alibaba.com, I will use my personal experience to help other athletes embark upon their entrepreneurial journeys and enjoy a successful second career.”

PCC RECEIVES PRIME PLOTS FROM CBD PUNJAB AT LANDMARK POSSESSION CEREMONY

                    

                                                

Central Business District Punjab (CBD Punjab) hosted an official possession ceremony for Plot #4 and Plot #5 of Lahore Prime CBD Punjab Quaid District. The possession of the plots was given to Pakistan Consortium Company Reit Fund (PCC). The event was attended by distinguished members of PCC including Gohar Ijaz, Mian Amir Mehmood, Naeem Butt, and representatives from Habib Rafiq Group. On behalf of CBD Punjab, CEO Imran Amin, Chairman Board Barrister Syed Azfar Ali Nasir, and senior officials of CBD Punjab were present to mark this significant milestone.

CEO CBD Punjab Imran Amin, emphasized the strategic importance of this development in his address, stating, “In the next five to ten years, our vision is to create a master plan and development projects that not only instill confidence and trust within the business community but also lay down a robust infrastructure foundation. The trust bestowed upon us by the business community, represented by Gohar Ijaz, is a testament to our commitment to delivering high-quality infrastructure. This project is a pivotal step towards realizing that vision."

While addressing the ceremony Chairman Syed Azfar Ali Nasir said, “We have worked diligently to build an organization that introduces customer-friendly policies and earns the trust of the business community. The support from our consortium and the public sector has been instrumental in reaching this milestone. Today, we are proud to see Pakistan’s first super high-rise infrastructure taking shape.”

Business Tycoon Gohar Ijaz, representing PCC, added, "The possession of these plots is a significant milestone for us and reaffirms our commitment to contributing to Punjab’s economic growth. The collaboration with CBD Punjab will enable us to develop state-of-the-art infrastructure that will attract further investment and foster a thriving business environment."

The technical and commercial teams, along with partners such as NLC and NESPAK, have played a crucial role in this development. The project includes the construction of a four-kilometer road connecting Main Boulevard to Walton, incorporating advanced elements like vertical electric conduits approved by LESCO, rainwater harvesting systems, and smart services. The cost of this infrastructure development is estimated at 25 billion PKR, reflecting the significant investment in creating a business-friendly environment.

The possession of Plot # 4 and Plot # 5 marks the beginning of a new era of development and commercial growth in Lahore. With projects such as the completion of Kalma Chowk, CBD Route 47 and the Walton Road development, CBD Punjab continues to pave the way for innovative infrastructure and commercial corridors that will drive economic growth.

Pak-Qatar General Takaful Limited Partners with Dewan Farooque Motors Limited for Motor Takaful Coverage

                                                     

Pak-Qatar General Takaful Limited (PQGTL), a leading provider of Shariah-compliant General Takaful solutions in Pakistan, announced partnership with Dewan Farooque Motors Limited (DFML) to offer motor Takaful coverage for vehicles distributed through their nationwide network.

This collaboration will see PQGTL provide Takaful coverage for both the electric vehicle, offered under the banner of Eco-Green Motors Limited (EGML), and trucks sold through the nationwide distribution network of DFML.

“We are looking forward to having a lasting partnership with Dewan Farooque Motors Limited for expanding our Takaful coverage to electric vehicles and a wider range of commercial vehicles,” said Mr. Saqib Zeeshan, CEO of PQGTL. “This partnership aligns with our commitment to providing innovative and Shariah-compliant solutions that meet the evolving needs of our customers.”

Ms. Saleha Hassan, Head of Marketing at DFML, said, “We are pleased to collaborate with Pak-Qatar General Takaful to offer our customers with added comfort of comprehensive Takaful coverage for their vehicles. This partnership ensures that our customers, whether they require dependable commercial vehicles or eco-friendly electric vehicles, have access to exceptional motor Takaful protection.”

The partnership highlights PQGTL's commitment to expanding its reach and providing Shariah-compliant Takaful solutions to a broader customer base across Pakistan. Whether for commercial logistics or personal commuting, PQGTL's motor Takaful solutions aim to deliver comprehensive coverage for diverse customer needs.

Alibaba.com Launches Inaugural KEL Award to Recognize Leading B2B E-commerce Talent

                                              

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today announced the inaugural Key E-commerce Leader Award (KEL Award), designed to honor distinguished e-commerce suppliers within the South and Southeast Asia regions.

Launching this week and continuing through November 2024, the KEL Award will see eligible Alibaba.com suppliers from seven countries – India, Indonesia, Malaysia, Pakistan, Singapore, Thailand and Vietnam – compete in a national round in their respective markets from August to October. The 10 best performers from the national round will take the stage in the finale to be held in Vietnam in November, where the three most outstanding contestants among them will be crowned the winners of the KEL Award.

Contestants are expected to showcase their use of Alibaba.com in developing and expanding their export ventures, along with the strategies they employ to stand out in the global market. Evaluations of the KEL Award will be based on the substance and creativity of their presentations, effectiveness in communication and personal brand portrayal, in-depth understanding of the Alibaba.com platform, and adeptness in fielding questions and articulating plans to impact and inspire others within the e-commerce community.

The competition is open to owners, key personnel and managers of companies selling on Alibaba.com with a minimum rating of two stars and an active presence on the platform for at least six months.

Alibaba.com’s KEL Award aims to bring together top-notch suppliers across the region and foster mutual learning and engagement. It also offers a stage for participants to expand their influence within Alibaba.com’s community of global buyers and suppliers, enhancing their visibility and opening doors to collaborative opportunities.

Contestants will stand a chance to gain access to Alibaba.com’s expert-led training sessions designed to bolster their operational proficiency on the platform as well as develop their soft skills critical to leadership, public speaking and team management.

Outstanding suppliers in the competition will be entitled to exclusive benefits including enhanced product showcase slots and keyword advertising bonuses to boost their products’ exposure on Alibaba.com. The top three contestants will receive the additional award of a sponsored “Dream Trip” to Alibaba.com’s headquarters in Hangzhou, China. All winners from the country round will also be appointed as Alibaba.com lecturers, gaining opportunities to impart their insights and experiences with fellow suppliers from the South and Southeast Asia region.

“The Alibaba.com KEL Award aims to serve as a vital platform for high-caliber small and medium-sized enterprises (SMEs) on our platform to showcase their business acumen and innovation while fostering cross-market collaboration and learning. By spotlighting the success stories of the contestants, we aspire to motivate countless other SMEs engaged in global trade to reach new heights of success on the international stage,” said Mr. Roger Luo, Head of South and Southeast Asia at Alibaba.com.

Registration for the KEL Award is open from now until late July 2024. For registration, please visit: https://survey.alibaba.com/apps/zhiliao/g9Iw8Uien

CBD PUNJAB EXECUTES HISTORIC LAND TRANSFER IN RECORD 24 HOURS’ WORTH 6.9 BILLION PKR

                                                     

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has successfully completed the fastest land transfer in its history, closing a transaction worth 6.9 billion PKR for plots Lahore Prime 4 & 5. Taxes deposited for this transfer exceeded 310 million PKR to the government treasury through the Board of Revenue (BOR), marking the largest plot transfer at auction price in Punjab.

This significant transfer, involving a 23-kanal plot owned by the Pakistan Corporate Consortium REIT fund, is a milestone for both CBD Punjab and the Pakistan Corporate Consortium (PCC). It represents the first plot to be transferred by CBD Punjab to PCC, with the BOR recording its largest transfer fee on a single purchase for the year 2023-2024.

In a groundbreaking move to boost investor confidence and streamline business operations, CBD Punjab has fulfilled its promise of transferring land to investors within record 24 hours of full payment. This achievement underscores CBD Punjab's dedication to creating an efficient, investor-friendly environment.

CBD Punjab has committed to providing a one-window operation for its investors, simplifying processes and ensuring a hassle-free experience. Demonstrating this commitment, CBD Punjab recently completed the transfer of ownership for two amalgamated plots in Lahore Prime CBD Punjab Quaid District to the Pakistan Corporate Consortium (PCC) following their full payment. PCC emerged victorious in the competitive auction for these plots, marking a significant milestone in their investment journey.

Commenting on the swift transfer process, CEO CBD Punjab Imran Amin said, "This achievement reflects our unwavering commitment to providing our investors with the best possible experience. At CBD Punjab, we believe in creating an environment where investors can thrive and contribute to the economic development of the region. Our one-window operation is designed to make the process as smooth and efficient as possible, and we are proud to see it in action."

With the land transfer completed, the next phase of development is set to commence. CBD Punjab will provide full support in building design and other formalities required for the construction of its first skyscraper. This landmark project is expected to set new standards in urban development and further reinforce CBD Punjab's position as a premier investment destination.

Voila Aesthetic Clinic by Saima Dahri launches 'InMode' Technology

                                 

A leading expert in the cosmetic surgery – Saima Dahri recently hosted a grand event, to celebrate the first anniversary of the ‘Voila Aesthetic Clinic’ (Instagram: Voila Aesthetic Clinic). This clinic is the first of its kind in Karachi, to introduce the revolutionary ‘InMode’ cosmetic surgery machine, based on next-generation technology, imported from the United States of America.

Aesthetic plastic surgery encompasses various procedures designed to enhance the appearance of the face and body. The InMode technology is globally renowned for doing wonders to a person’s beauty. The Viola Aesthetics Clinic also offers the highly acclaimed Morpheus 8 procedure, which targets subdermal layers of the skin and tissue to remodel collagen on the face and body. It ensures minimal risk of post-inflammatory hyperpigmentation, making it suitable for all skin types. Fractional tissue treatment simulates collagen production. For darker skin and tones, effective skin and tissue remodelling can be achieved.

Saima Dahri - the founder of Voila Aesthetic Clinic stated: “As we celebrate the successful completion of our clinic’s first year of operations, I would like to express my gratitude for our customers’ overwhelming response and trust in our offerings. Our clinic is fully equipped and certified to provide the most advanced services, promising the best results and addressing the aesthetic concerns of its customers.”

Dr. Sach Mohan - an award-winning cosmetic dermatologist and expert, with over 25 years of experience in facial aesthetics and lasers, chaired the launch event. While Ghazanfar Rauf - the official distributor of InMode, Candela, Hydrafacial Md, Lutronic, and other devices in Pakistan, also attended the ceremony, besides many celebrities who are regular customers of Viola Aesthetic Clinic. These prominent guests who appreciated the high-quality services offered by this clinic included; Javeria Saud, Mariam Ansari, and Shan Baig.

Many of the guests expressed their confidence in Saima Dahri’s expertise and personalized care, for enhancing the natural beauty of her clients, while she is also qualified to ensure skillful use of state-of-the-art technology. Selection of the InMode technology has once again proved the highest standards of safety and effectiveness adopted by Viola Aesthetic Clinic by Saima Dahri.

A Gamers Paradise: Enter the GT Verse with Infinix GT 20 Pro

                              

In the competitive mobile gaming landscape, Infinix has carved a niche for itself by prioritizing exceptional performance. Their dedication to the gaming community is evident in their smartphone designs, which incorporate powerful processors, high refresh rate displays, and innovative cooling systems. The Infinix GT 20 Pro perfectly exemplifies this commitment to smooth gameplay. Remarkably, within its price range, the GT 20 Pro stands out as the only phone capable of delivering a stunning 120 fps experience in PUBG Mobile. Therefore, this industry-leading performance has earned it the prestigious title of the official gaming phone for PMSL, a testament to Infinix's ability to deliver exceptional value and power to serious mobile gamers.

Talking about exceptional value the Infinix GT 20 Pro boasts a trio of features meticulously crafted to propel your mobile gaming to the forefront. At its heart lies the MediaTek Dimensity 8200 Ultimate processor, a 4nm powerhouse built for unparalleled performance and efficiency. This translates to seamless gameplay, even in demanding titles like PUBG Mobile, where you can experience a buttery-smooth 120 fps for a significant edge in competitive play.

Complementing this processing prowess is a dedicated gaming display chip. This specialized component optimizes the phone's display for smooth visuals, ensuring tear-free graphics and rapid response times – crucial for those split-second decisions in PUBG.

Finally, the GT 20 Pro stuns with a bezel-less 144Hz FHD+ AMOLED display. This high refresh rate translates to incredibly fluid visuals, where on-screen actions appear lifelike. The AMOLED technology further enhances the experience with vibrant colors, deep blacks, and exceptional contrast, making every in-game world a feast for the eyes. Together, these features create an unparalleled gaming environment, allowing you to react instantly, dominate the competition in PUBG Mobile, and experience the thrill of mobile gaming at its absolute best.

Moreover, professional gamers have also lauded the Infinix GT 20 Pro's ability to deliver an immersive and lag-free PUBG Mobile experience. Renowned players like Star Anonymous, SP Joker, and Mr. Jay Plays have all been thoroughly impressed by the phone's performance. They've commented on the phone's ability to flawlessly handle even the most demanding in-game scenarios, praising the smooth visuals and rapid response times that translate to a significant competitive advantage that transports them into a world devoid of distractions, allowing them to fully focus on strategic decision-making and dominate the battlefield.

"The Infinix GT 20 Pro is a game-changer. PUBG Mobile on this phone feels buttery smooth at 120 fps – it's like having a competitive advantage built right in," said Star Anonymous.

Mr. Jay Plays commented “Finally, a phone that can keep up with my skills! The GT 20 Pro's display and processing power are insane. I can dominate any PUBG Mobile match with this beast in my hand."

SP Joker also commented "Forget lag, forget dropped frames. The Infinix GT 20 Pro is a dream come true for PUBG Mobile players."

In conclusion, the GT 20 Pro ushers in a new era of mobile gaming prowess, offering an uplifting experience and a professional-grade environment for the next generation of gamers.