Category: Business

KARACHI: In the ongoing four-day exhibition Techtextil and Texprocess 2024 in Germany’s financial hub Frankfurt, 10 Pakistani manufacturers have won the attention of buyers and visitors towards their products that started today.

The 10 exhibitors, including Lucky Textile, Master Textile Mills, Midas Safety, Nishat Fabrics, and Sapphire Finishing Mills, are showcasing their products at Techtextil, while Triple Tree Solution is participating in Texprocess. Pakistani exhibitors aim to establish connections with a global audience, extending beyond European buyers, and seek engagement with individuals from various sectors and subsectors within the international textile industry.

Techtextil, renowned as the leading international trade fair for technical textiles and nonwovens, is being held alongside Texprocess, which will exhibit the latest in garment and textile manufacturing machinery and services.

With over 1,600 exhibitors representing approximately 50 countries, these premier international trade fairs provide a platform for showcasing the latest advancements and innovations.

Pakistani exhibitors at Techtextil and Texprocess highlight the nation’s commitment to advancing its textile industry through technology and global partnerships. This strategic involvement is expected to boost Bangladesh’s position in the global market, driving economic growth and promoting sustainability.

Techtextil and Texprocess offer exhibitors an invaluable opportunity to delve into pressing topics such as sustainability and digitalization through their meticulously crafted content agendas.

With high-caliber speakers, enriching discussions, and extensive networking possibilities, these events serve as indispensable hubs for knowledge sharing, professional engagement, and forging lucrative business partnerships.

Mohd Huzaifa, the Director of Huqas Apparel, said they had a good start for the fair and hope to get a better response in next days. He added that with enthusiasm, he looked forward to engaging further with attendees and exploring new opportunities for collaboration.

DUBAI: After the heaviest rainfall, the UAE experienced in 75 years Dubai Airports is making remarkable strides in restoring and normalising operations at Dubai International Airport (DXB).

Paul Griffiths, CEO of Dubai Airports, said that since yesterday, ahead of its recovery schedule, DXB has returned to its normal flight schedule and is back to operating around 1,400 flight movements a day.

“With roads in and around the airport 100% clear of water accumulation, our manpower, logistics and facilities are operating as usual again. To have the airport back up and running is no small feat. Also, 2,155 flights were cancelled, and 115 were diverted. We had to work closely with our airline partners and service providers to rework schedules, boost manpower and look after all those who had been disrupted.

“I’m continuously amazed by the unwavering dedication of our Dubai Airports employees, airline partners, government agencies, commercial partners and service partners. It has been the most challenging adverse weather event we’ve had to navigate, and our people and partners worked tirelessly to keep the operation running and to assist our guests.”

He added that 31 flights were diverted to Dubai World Central (DWC), and by 19th April, all guests at the airport were successfully supported and continued onwards to complete their travel plans.

Guest welfare remained a key priority throughout the disruption, and although there were initial challenges in transporting supplies due to road closures around DXB and DWC, over 75,000 food packs were delivered across both airports.

“While certain challenges remain, including processing the baggage backlog, we’re working closely with our service partners but know there’s still more work to be done and once again, thank guests for their patience while we work through this,” added Griffiths.

He noted, “We’re deeply saddened by the ongoing impact of the heavy rainfall on affected communities and businesses across the UAE. We’re also supporting our own people who were badly affected by the weather and will continue to support wherever we can.”

As normal operations resume, guests should arrive at their terminal only three hours ahead of their flight departure time to avoid unnecessary congestion and facilitate smoother operations.

KARACHI: Pak-Qatar Family Takaful (PQFTL), part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services group, becomes Pakistan’s first ever Takaful operator to introduce a Voluntary Pension Scheme (VPS).

According to the company information, by offering VPS, PQFTL brings a unique investment option to the public which benefits them to save for their retirement, while at the same time helps in reducing tax liability up to 20%.

Individuals can opt for the plan with a contribution as low as PKR 1,000. The product also provides complimentary Takaful coverage against natural death up to PKR 10 million or two times of investment balance (whichever is lower) and an accidental death coverage up to PKR 20 million or four times of investment balance (whichever is lower). By investing in VPS you can also avail discounted rates on additional coverage for Family Sehat (Individual health), Motor Takaful and House Takaful.

“This scheme not only facilitates retirement savings but also offers the potential for excellent returns on investment. We are dedicated to providing innovative Shariah-compliant products and services that empower our customers to make informed investment decisions and achieve long-term financial security, said the Company’s Senior Official.”

lahore: The rate of solar panels in Lahore again came down significantly as the price of a 7 to 15-kilowatt system has come down by Rs75,000 to Rs200,000, a market report said Saturday.

After decrease in price, the cost of a 7-kilowatt system has come down to Rs750,000 while a 10-kilowatt system rate now stands at Rs1.05 million with a reduction of Rs100,000.

After reduction of Rs150,000 on a 12-kilowatt system, it will now be installed for Rs1.50 million. After reduction of Rs200,000 in a system of 15 kilowatts, solar panel can be installed for Rs1.4 million.

The above-mentioned prices are fixed for installation of on-grid system while batteries for hybrid system installation will have to be paid separately.

Islamabad: JS Bank, one of the fastest-growing banks in Pakistan, announced the milestone of crossing PKR 500 billion in deposits.

This achievement resulted from sustained momentum stemming from a strong closing of 2023, with the Bank posting a Profit Before Tax of PKR 8.5 billion, a four times growth as compared to the previous year. JS Bank’s deposit closed at PKR 486 billion in 2023, and total assets at PKR 589 billion.

JS Bank also made strides in expanding its digital footprint. The bank’s digital customer base increased by 46% over last year, and 80% of the Bank’s brick-and-mortar branches are now equipped with digital account opening features.

Basir Shamsie, President and CEO of JS Bank, commented, “This achievement is a testament to our teams’ commitment to providing top-notch products and services to our customers and partners. The result is a product of our combined efforts from different verticals including retail, transaction banking, corporate banking, and digital banking groups, and reflects our shared ambition to grow and improve our services.”

Committed to its role as a catalyst toward Pakistan’s prosperity, JS Bank aspires to continue its journey of impact by providing innovative conventional and digital financial solutions for customers in the years to come.

Islamabad: Pakistan Telecommunication Company Limited (PTCL) and National Insurance Company Limited have signed an agreement for provision of Smart Cloud Services bundled with allied licenses.

According to a statement on Wednesday, Muhammad Basharat Qureshi, Group Vice President Enterprise Solutions, PTCL and Khalid Hameed, Chief Executive Officer, National Insurance Company Limited (NICL), signed the agreement at a ceremony recently held at NICL’s Head office in Karachi. Umar Farooqi, Group Director, Enterprise Solutions, PTCL, Tariq Aziz, Executive Director, National Insurance Company and Bilal Kully, General Manager Information Technology, National Insurance Company, were also present on the occasion, along with other senior officials.

PTCL provides the National Insurance Company with its state-of-the-art infrastructure solutions that are equipped with the latest technology, in-built managed security and DDoS filtering solution.

During the signing ceremony, Muhammad Basharat Qureshi, Group Vice President Enterprise Solutions, PTCL, said, “We are pleased to sign an agreement with National Insurance Company to support them in fulfilling their business needs. PTCL, being a national company, is leading the digitization effort across the country. Through such partnerships, PTCL continues to play its key role in the development of technology infrastructure by providing innovative and secure solutions to the corporate and public sector that will further contribute towards the overall economic growth of the country.”

On the occasion, Khalid Hameed, Chief Executive Officer, National Insurance Company, said, “In light of the current fast-paced banking activities specially through mobile and online platforms, regular upgrades to the security apparatus are crucial. We are pleased to sign this agreement with PTCL as our trusted partner for our Smart Cloud Services for Virtual Private Servers. Keeping our data secure is of utmost significance and we believe in providing our customers with the best financial solutions which can provide them with the peace of mind required to fully embrace a digitally enabled financial lifestyle. This partnership with PTCL is a step in the right direction given the scale and quality of services that we offer.”

PTCL endeavors to provide best-in-class services to its corporate customers across various industries in Pakistan. This agreement is part of the growth momentum in the diverse areas of ICT and Security Solutions, which is key to a digital banking eco-system in Pakistan.