Tech and Telecom

Qatar Airways has reclaimed the top spot as the world’s best airline, dethroning Air New Zealand, according to the Australia-based aviation safety and product rating agency AirlineRatings.com. Its Airline Excellence Awards evaluate carriers based on 12 factors such as safety, product rating, fleet age, profitability, serious incidents, innovation, forward fleet orders, and passenger reviews from various sources. A panel of five editors, led by AirlineRatings.com Editor-in-Chief Geoffrey Thomas, brings together more than a century of industry experience. Singapore Airlines secured the Best First Class award, Qatar Airways earned Best Business Class, Emirates took home Best Premium Economy, and Air New…

In an effort to attract customers, Hyundai has announced free registration on the Hyundai Elantra 2.0 GLS and all Tucson variants until Eid-ul-Adha. Hyundai aims to ease the financial burden of owning a vehicle by waiving registration fees for the two models. “Hit the road with free registration on Elantra 2.0 GLS & all Tucson variants,” the company announced in a social media post. The Hyundai Elantra is renowned in Pakistan’s sedan market for its robust engine, advanced technology, and impressive road performance. Meanwhile, the Tucson is praised for its luxurious features and outstanding comfort. With this limited-time opportunity you…

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Atif Ikram Sheikh has urged the government to prioritize immediate and complete offtake of power from existing and operational wind power projects that are producing electricity at a cost of Rs. 14.5 per unit. Sheikh said that this aligns with both the Renewable Energy Policy 2006 – pursuant to which local and foreign investment had taken place – and the existing energy purchase agreements (PPAs). FPCCI SVP Saquib Fayyaz Magoon said that recently K-Electric has showcased its efforts to achieve a 30 percent share of renewable energy generation in its…

The Pakistani rupee (PKR) reversed its 3-day losing streak against the US Dollar today after opening trade at 278 in the interbank market. It was slightly stable all day and closed in green against the greenback. It posted gains against some of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at 278 today. The PKR appreciated by 0.06 percent to close at 278.3 after gaining 17 paisas against the dollar today. On a fiscal year-to-date basis,…

The Monetary Policy Committee of the State Bank of Pakistan is scheduled to meet on June 10, 2024, to decide on the final monetary policy for FY2023-24, and there is mounting expectation for a rate cut. A survey by Arif Habib Limited (AHL) estimates a reduction of 200bps in the policy rate, potentially lowering it to 20 percent, a level last seen in March-April 2023. This forecast is underpinned by several favorable economic indicators stated in the AHL report, suggesting a conducive environment for the initiation of a reversal in monetary stance. One of the primary factors supporting the expectation…

The cost of heart surgeries in Government Hospitals of Punjab is expected to increase as much as 100 percent because of what the sources said “ill-conceived” policy of the Specialized Healthcare and Medical Education Department, Government of Punjab. A major health crisis is looming large for the country’s most populous province where the provincial health department has barred the CE Marked European and Chinese companies from supplying consumables and disposables that are used in heart procedures and surgeries to the state-run hospitals. The provincial authorities have made it conditional that only those suppliers would be eligible for participation in the…

Infinix, a trendy tech brand crafted for young consumers, reports exceptional growth in Q1 2024. According to IDC’s Worldwide Quarterly Mobile Phone Tracker, Infinix achieved the highest year-on-year global market share growth amongst all major smartphone brands worldwide. Infinix’s year-on-year market share growth increased from 1.7% to 3.7% in Q1 2024, and its global smartphone shipments surged by a remarkable 150.6% year-on-year, achieving four consecutive quarters of rapid and sustained growth. “We are thrilled with our exceptional performance in the first quarter of 2024,” said Tony Zhao, General Manager at Infinix. “Our dedicated team has worked tirelessly to bring young,…

Kia Motor Pakistan has announced a minor upgrade for its crossover SUV, the Kia Sportage. However, according to the company’s social media post, this update is limited to the vehicle’s special edition. “Introducing a striking new look for Kia Sportage Limited Edition with a distinct new emblem,” the company announced in a social media post. This means that the new emblem will be exclusive to the limited white edition and will not be featured on all models or variants of the car. It further added that the “Sportage Limited Edition comes with a distinctive new emblem.” In short, the upgrade is…

The Securities and Exchange Commission of Pakistan (SECP) has issued the draft Securities Managers (Licensing and Operations) Regulations, 2024, along with a consultation paper on the proposed Regulations, in order to obtain feedback from market participants and the general public. The proposed regulatory framework permits eligible securities brokers to provide portfolio management services after obtaining the requisite license to act as a ‘securities manager’ from the Commission. The licensing requirements for securities managers include net worth, fiduciary rating, research capacity, and other related areas, as provided in the Regulations. Additionally, the securities manager is required to maintain customer funds and…

Pakistan’s national football team has encountered a significant blow ahead of the crucial qualifiers next month as their star midfielder Harun Hamid has been ruled out due to an injury for the FIFA World Cup Qualifier round 2 matches against Saudi Arabia and Tajikistan. Hamid, who plays for St. Albans in the sixth tier of English football arrived at the ongoing Pakistan training camp with a lingering injury, raising concerns among the coaching staff and medical team. Despite hopes that he might recover in time for the qualifiers, a thorough assessment by the Pakistan team’s medical panel determined that Hamid…