Samsung Reports its Highest Smartphone Profit Share in 6 Years

With the ongoing global pandemic, many companies have been facing a hard time trying to keep afloat. However, Samsung was able to record the highest Smartphone profit share in the global market in six years. The company also managed to surpass the profits of other major companies in the industry.

Samsung, with its high profits, has made overshadowed Apple in the US and Xiaomi in the Indian market. The company has also narrowed down the gap with Apple in terms of smartphone profit share.

In the third quarter of 2020, Samsung achieved a profit share of 32.6 percent, which is significantly up from 18.8 percent from back in 2019. This is the highest profit share the company earned in the past six years. The last high was a 37.9 percent profit share back in Q2 2014.

However, Apple still remains the world’s most profitable smartphone brand, with a 60.5 percent profit share. This figure is down from 66.9 percent from last year since the company saw a fall in operating margins with the release of the new iPhone 12 series. In comparison, Samsung noted growth in operating margin, rising from 11 percent in Q3 2019 to 14 percent in the same quarter this year.

Moreover, Samsung Electronics’ global smartphone revenue share was 22.6 percent, while Apple had a revenue share of 29.5 percent during the same period.

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FBR Takes Significant Facilitative Initiatives For Taxpayers

The FBR has taken Significant Facilitative Initiatives for the taxpayers including upgradation of the Iris system with the help of PRAL for issuing SMS and e-mails whenever any notice is issued or any assignment is created by Tax officer.

In line with the vision of the Prime Minister and Special Assistant to PM on Revenue, Federal Board of Revenue (FBR) has taken significant initiatives to facilitate taxpayers by making compliance easier.

FBR in collaboration with PRAL, has launched a single-page simplified Income Tax Return for SME manufacturers having turnover upto Rs. 50 million which can be availed by individuals and AOPs.

This return is available on Iris portal and requires input of basic data relating to business activities conducted by eligible taxpayers during the period relevant to tax year 2020.

Likewise, FBR has upgraded Iris system with the help of PRAL for issuing SMS and e-mails whenever any notice is issued or any assignment is created by Tax officer. Previously, taxpayer would know about such notices/ intimations only after logging onto Iris portal.

With the objective of improving compliance with a facilitative environment, after Iris upgrade, taxpayers and intermediaries will receive notifications of such communications through SMS and e-mails making compliance easier and smarter.

FBR has launched a system Maloomaat-TaxRay wherein taxpayers can access all information available with the FBR by logging through a secure mechanism. For further facilitation, this feature has been launched in Mobile app, Tax Assan, so that taxpayers can easily access all such information.

FBR believes in high levels of tax facilitation and constantly using innovative technology for creating a faceless organization.

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Wasim Akram Speaks Up in Anger at Lack of Social Distancing by Pakistanis [Video]

Legendary cricketer Wasim Akram has implored the public to adhere to Coronavirus’ preventive guidelines issued by the government amid the second wave of the viral infection.

In an Instagram video, accompanied by her spouse, Shaneira Akram, for a morning walk, the former pacer requested masses to practice social distancing and wear face masks.

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He urged his followers to take care of their loved ones as the government has repeatedly warned against the resurging Coronavirus.

Besides, in the same video, Akram also criticized the citizens for littering the beach.

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A post shared by Wasim Akram (@wasimakramliveofficial)

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The couple has time and again highlighted the issue of littering in the tourist spots in Pakistan.

Earlier this month, Shaneira Akram took part in a beach cleaning exercise to restore the beauty of Karachi’s shoreline.

The post Wasim Akram Speaks Up in Anger at Lack of Social Distancing by Pakistanis [Video] appeared first on .

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President Alvi Suggests a Trade Triade Between China, ASEAN and Pakistan

Speaking at the virtual 17th China-ASEAN Expo on Friday, the President of Pakistan, Dr. Arif Alvi, proposed the establishment of a Trade Triade between Pakistan, China, and the ASEAN. He further expressed the need for the maximization of the existing intra-regional business opportunities.

In his address to the virtual Expo event held in the Chinese city Nanning on Friday, the president highlighted Pakistan’s stable macro-economic policies and the fundamentals of doing business, both of which offer an attractive market to China and the ASEAN to establish trade cooperation in diverse areas.

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Briefly mentioning the impact of the COVID-19 pandemic on Pakistan’s economy, Dr. Alvi stated how the economy had strengthened, and how online businesses have grown due to the implementation of far-reaching economic reforms.

In conclusion, President Alvi encouraged China and the ASEAN to invest in local enterprises and SEZs. On the subject of exports to these countries, he mentioned textiles, food products including meat and vegetables, surgical goods, minerals, and IT as prospective areas for business.

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ZTE Watch Live Brings Heart-Rate, Blood Oxygen Tracker and 21-Day Battery for $35

The Chinese Smartphone manufacturer ZTE has silently unveiled its new wearable dubbed the ZTE Watch Live in China. Taking after the Redmi Watch launched yesterday, the smartwatch comes with a square display, attractive features, and a reasonable price.

Design and Display
The ZTE Watch Live is equipped with a 1.3-inch TFT display with 240 x 240 pixels resolution. The square-shaped display is reminiscent of many smartwatches released this year, including the Apple watch and the Redmi watch.

The watch dial is available in one color only, i.e., black. However, users can choose from four strap colors: Black, Orange, Sky blue, and Navy.

Other features
The smartwatch comes with support for 24-hour heart rate monitoring, blood oxygen saturation tracker, and sleep tracking. In terms of sports tracking, it is capable of monitor 12 kinds of sports activities, including walking, running, skipping, skiing, swimming, cycling, etc.

Furthermore, it connects to Smartphones over Bluetooth 4.2 and can be used to check notifications like incoming calls, reminders, messages, and so on in real-time. The watch also supports other functions like the weather forecast, remote camera, music control, find my phone, and sedentary reminder.

Although the company has not detailed the exact battery size, the company claims that once fully charged, it can provide 14 to 21 days of battery life depending on the usage.

Pricing and Availability
The watch will be available in China by 3rd December at a retail price of $35.

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Chemical Castration of Rapists Will be Conditional

The proposed Anti-Rape law suggests that the chemical castration of habitual rape offenders will be performed with the consent of the convict.

The Federal Minister of Law and Justice, Dr. Mohammad Farogh Naseem, chaired the meeting of the Cabinet Committee on Legislative Cases to deliberate over the Anti-Rape (Investigation and Trial) Ordinance 2020 and the Criminal Law (Amendment) Ordinance 2020 on Thursday.

The committee then sanctioned both ordinances, which will be enacted as a law after approval from President Arif Alvi.

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The proposed draft suggests the chemical castration of first or repeated offenders subject to the consent of the convict as a form of rehabilitation.

Dr. Naseem stated that taking the consent of the convict for castration is mandatory under international law. If chemical castration is ordered without consent, the convict might challenge this in a court of law.

He added that if the convict does not agree to being castrated, he will be dealt with according to the Pakistan Penal Code (PPC) that states either a death sentence, or life imprisonment, or 25 years in jail for such cases.

He also mentioned that it will be up to the court to decide the punishment, adding that it might order castration for either a limited period or lifetime.

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The federal government aims to establish special courts to conduct speedy trials of rape cases by promulgating the two ordinances.

Earlier this month, Prime Minister Imran Khan had constituted a three-member committee comprised of the Parliamentary Secretary for Law, Barrister Maleeka Bokhari, Law Secretary Raja Naeem Akbar, and consultant Barrister Ambreen Abbasi to finalize the two ordinances.

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021 Disrupt 2020 to Host 5000+ Innovators, Entrepreneurs, and Disruptors in Pakistan

021Disrupt, Pakistan’s premier technology and entrepreneurship conference by The Nest I/O, is all set to take place virtually from November 30 – December 5. Running in its 4th year, the upcoming edition will host over 5000 disruptors in the entrepreneurial, technology, and digital ecosystem of Pakistan.

This year, 021 Disrupt is virtual that brings the opportunity to expand the horizons of this conference beyond borders. So, whether it is a panel that offers a window in the minds of international pioneers or an investor meeting that changes the course for a startup, the conference will be a guide into a brave new future.

021 Disrupt 2020 is bringing 60+ international and local speakers from diverse industrial sectors. 30+ investors and mentors are also joining in to have one-to-one conversations with more than 500 startups across Pakistan. Be it workshops, curated panels, or round-tables, the conference has everything for startups, professionals, and students.

Joining the speaker lineup, the global voices include Guy Kawasaki – Chief Evangelist Canva, Mary Grove – Managing Partner, Bread and Butter Ventures, Chris Yeh – Cofounder, The Global Scaling Academy, Mudassir​ Sheikha – CEO & Co-Founder Careem, Durdana Achakzai – Group Director Digital Transformation & Chief Digital Officer, Vodaphone UK, William Bao Bean – General Partner SOSV, and various other venture capitalists!

Pakistani voices at the forefront of disrupting local industries include Muhammad Aurangzeb – President & CEO HBL, Ghias Khan – CEO & President, Engro Corporation, Amir Paracha – CEO & Chairman, Unilever Pakistan, Muneeb Maayr, – Founder & CEO Bykea, Rabeel Warraich – Founder & CEO Sarmayacar, Aatif Aawan – Founding Managing Partner Indus Valley Capital and Mashhood Rastgar – Chief Technology Officer, SastaTicket.pk.

The previous year, 021 Disrupt hosted 1100+ attendees, which included over 600+ startups engaging with 55+ investors in Office Hours. Each investor brought along ticket sizes ranging from $20,000 to $7 million. The conference garnered a digital reach of 90 million audiences across social media platforms.

President [email protected] and Founder The Nest I/O, Jehan Ara, shares, ​“After several months of intense activity, we’re really excited to launch 021Disrupt 2020. It is our flagship yearly event and a lot of passion, love, and effort goes into making it a reality. Each year we’re humbled and grateful for the response we get from our community. This year has been a challenging year for startups and professionals alike.”

“As responsible citizens, we made a decision early on to make 021Disrupt 2020 a virtual event. This will not only keep our participants and speakers safe, it will also enable participation from all over the world making it an even more vibrant event. We can’t wait to have you join us,” she adds.

Supported by HBL, 021Disrupt is ready to provide a virtual, albeit immersive experience to all the attendees with an opportunity to engage, partner, co-create, and invest in the future of technology and innovation in Pakistan.

Stay tuned with The Nest I/O on ​Twitter​, ​Facebook​, and ​Instagram to experience the conference remotely!

Get. Set. ​Disrupt!

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Punjab Announces Decision on Matric and Intermediate Practical Exams

Education boards in Punjab have decided against conducting practical examinations of matric and intermediate students for the academic year 2021. Instead, the marks for the practical examination will be given on the basis of theory examination.

It was finalized in a meeting of the Punjab Boards Committee of Chairmen (PBCC) that was held earlier today in Lahore.

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PBCC has taken this decision in view of the ongoing Coronavirus related situation in the country.

The committee’s decision comes days after the Inter-Provincial Education Ministers Conference (IPEMC) announced the closure of educational institutions till 10 January 2021 due to Coronavirus.

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The coronavirus situation is exacerbating with each passing day as the country has reported more than 3,000 cases for the third straight day.

In the last 24 hours, Pakistan has reported 3,113 new cases and 54 deaths due to the viral infection.

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Rupee Loses Some Ground After a Volatile Week Against US Dollar

The PKR-USD parity saw a volatile week in the interbank market.

In the interbank market today, the rupee weakened by 0.19 paisas to 159.46 versus the greenback, falling by 0.12 percent during the session, whereas it had closed at 159.26 on Thursday.

According to Capital Stake, the Rupee has so far gained 0.50 percent or 0.79 paisas against the US Dollar during November. During the current week, the Rupee fought hard and appreciated by 0.79 percent or PKR 1.26 against the greenback. This is a recovery of Rs. 8.97 per USD from its 52 week low of 168.4353 per USD, which was seen on August 26.

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Comparing to the beginning of the year, the US Dollar is stronger by 2.98 percent against the Rupee.

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities, while commenting on the Rupee said,

Oscillation around Rs. 160sh to continue. FX reserves are strengthening day by day. The second lockdown would further reduce demand for USD. PKR to remain firm while SBP reserves to improve.

The increase in the foreign exchange reserves is strengthening the local currency against the greenback. According to the data released by the State Bank of Pakistan (SBP), the foreign currency reserves currently held by the SBP on November 20 were recorded at $13.415 billion, registering an increase of $484 million as compared with $12.931 billion.

Foreign exchange inflows continued to maintain a positive trend in the last few weeks. The government not only received loans from various agencies, but inflows of foreign exchange also came from the Roshan Digital Account, wherein substantial value of investments were received from expatriate Pakistanis.

The smooth supply of USD from Remittances, Roshan Digital Account, and other measures by the State Bank of Pakistan (SBP) has kept the overall exchange rate from dropping too low, too quickly.

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Asian Development Bank (ADB) has also approved a $300 million policy-based loan to help promote macroeconomic stability in Pakistan by facilitating improved trade competitiveness and export diversification.

The demand for the Dollar is projected to remain controlled now, with no foreseeable major hike as per the payment scheduled by the government and the importers.

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Samsung Teases World’s First Triple Folding Phone and Rollable Tablet

As far as the folding Smartphone industry is concerned, the South Korean smartphone maker, Samsung, is in the lead. The company has already launched foldable phones in two form factors (Galaxy Fold and Z Flip).

Reportedly, the Korean company is working on other possible form factors for foldable phones and has recently teased a smartphone with a triple folding display and a rollable display.

The company has revealed these designs as a concept for now. However, a few months back, a Samsung patent for a Galaxy foldable smartphone with a ‘Z’ shaped triple folding display was approved. Hence, there is a good chance that the company is actually considering the design.

Reports about a ‘Zig-Zag’ Samsung phone in the works have been surfacing on the internet for a while now. Some analysts believe that the next Galaxy Fold will have a triple folding display, but, as of now, there is no evidence for that.

The second device teased by Samsung is a product with a long cylindrical body which houses a flexible display that can be unfurled. The animated image shared by the company reveals that the product is more likely to be aimed towards professionals and users who require a portable device with a large display.

Samsung has refused to shed more light on either of the products. Hence, we are unsure whether either of them will make it as a commercial product or not.

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