Category: Business

Lucky Motors to introduce first French car, Peugeot in Pakistan

After introducing KIA into Pakistan, Lucky Motors is now paving the way for French cars in the country.  Pakistan has officially welcomed the first French car in the country, Peugeot 2008, a European crossover SUV. Lucky Motors will use the imported SUV unit for trials and tests. If things go as planned, the company will sell locally assembled Completely Knocked-Down (CKD) Peugeot cars in Pakistan. 

Pakistan’s AlKaram Textile gets 6-Year export order for US brand Gap Inc.

Renowned American brand Gap Inc. has signed a license for home textiles with Pakistan’s AlKaram Textile Limited for a period of six years. The company has signed a license with Gap Inc. for all of North America and Mexico for six years. The company will be Pakistan’s first home textile company to enter the brand licensing space in international markets.

Two Pakistani companies make it to Forbes ‘Asia’s Best Under A Billion 2020’ list

Two Pakistani companies have made it to the most coveted Forbes ‘Asia’s Best Under A Billion 2020’ list. Information technology company Systems Limited Pakistan (SLP) along with local textile giant Feroze1888 Mills Ltd have made it to this year’s list. The annual list recognises 200 top-performing small and mid-sized companies in the Asia-Pacific region with sales under $1 billion. 

After 13 years, Pakistani medical professionals head to Kuwait

Pakistan is sending 600 medical professionals to Kuwait, and a first batch of 221 doctors, nurses and technicians is all set to fly out on Thursday after a gap on 13 years. A second group of 200 medical professionals will also fly to Kuwait in the coming months, under an agreement signed between the two countries in July this year.

Pakistani fisherman fight the mighty Chinese for food in country’s deep-sea fishing waters

While a new fishing policy is expected, local fisherman fear they will be left with no food as 12 Chinese deep-sea trawlers docked at the port of Karachi last month. Pakistani fishermen fear government’s plan to allow Chinese companies to carry out deep-sea fishing in territorial waters could threaten survival of at least three million people who depend on the sea for livelihood.

FBR removes customs duty on goods under Rs. 5,000 imported through postal or air courier

Any product imported into Pakistan through postal or air courier services with a declared value up to Rs. 5,000 will be exempt from customs duty or any other types of taxes. An FBR official explained that this move has been taken as a relief for the end-users, most likely to be private individuals as opposed to corporate importers.

Latest global report on money laundering names six Pakistani banks among transgressors

A latest report, revealing role of global banks in industrial-scale money laundering, has named six Pakistani banks among transgressors.  International Consortium of Investigative Journalists (ICIJ) published the catastrophic consequences of money laundering by banks globally in a report titled as FinCEN Files. The recently uncovered trove of government documents revealed 29 transactions that showed suspicious transactions to and from Pakistan.

Low-cost Turkish airline Pegasus to launch flights from Karachi to Istanbul

A low-cost Turkish airline, Pegasus, will be launching flights from Karachi to Istanbul on September 25. Flights from Istanbul Sabiha Gökçen Airport to Quaid-e-Azam International Airport will operate every Monday, Wednesday, Friday and Sunday at 8:35pm, while flights from Quaid-e-Azam International Airport to Istanbul Sabiha Gökçen Airport will depart every Monday, Tuesday, Thursday and Saturday at 04:55am.

Dubai- based startup fighting ‘digital addiction’ in students to launch in Pakistan on Sept 15

Dubai-based mobile app Lock&Stock, which works to curb “digital addiction” among students, is all set to launch its operations in Pakistan on September 15, 2020. The app, founded in 2017 in the United Arab Emirates, rewards students for not using their phones while studying, working out and spending time with friends and family, among other activities. The Lock&Stock app works by locking up other apps in your phone while you use it.

Five completely absurd money-making techniques being used by airlines during the pandemic

Airlines are looking for new revenue streams as they burn through cash while fleets are largely grounded and people stay at home due to the worst ever global crisis. A recovery is expected to take years and cost carriers billions of dollars more. Here’s a look at what airlines are peddling as they try to make up for the hit from Covid-19.