Business Trends

Honda to supply electrified power unit, eGX, for commercial-grade work equipment

Honda to supply electrified power unit, eGX, for commercial-grade work equipment

Honda Motor Co., Ltd. will begin supplying its eGX electrified DC power unit to Original Equipment Manufacturer (OEM) customers for use as a power source in their small-sized work equipment. “Starting (June 2021), Honda will begin supplying the eGX in Japan, then expanding into other regions such as Europe and the U.S. Honda is planning…

Zong 4G partners with PriceOye to give its customers exclusive discounts on MZA

Zong 4G partners with PriceOye to give its customers exclusive discounts on MZA

Zong 4G has partnered with Pakistan’s top e-commerce portal, PriceOye, to offer the users of My Zong App (MZA) exclusive discounts and deals, said a press release. “The partnership perks include unique deals and access to thousands of exclusive offers on mobile phones being sold on PriceOye. With a limited time offer to avail the…

Engro Polymer plans to set up a Circular Plastics Institute

Engro Polymer plans to set up a Circular Plastics Institute

Engro Polymer and Chemicals Limited (EPCL) plans to establish a Circular Plastics Institute (CPI), a not-for-profit thinktank, to promote research and development in Pakistan’s circular plastics economy, said a press release. “Pakistan faces the pervasive problem of plastic pollution as the country generated 3.9 million tons of plastic waste in 2020, and it has the…

SBP allows startups to raise financing from abroad

SBP allows startups to raise financing from abroad

In order to facilitate the startup companies in raising financing from abroad, State Bank of Pakistan (SBP) has allowed them to avail loans as “Convertible Debt”, SBP said in its recent press release. “Convertible debt is a type of financing with the option that it may be converted into equity shares of the borrowing company,…

PTA receives PKR 15.82 billion against second instalment of license renewal fee

PTA receives PKR 15.82 billion against second instalment of license renewal fee

Pakistan Telecommunication Authority (PTA) has received PKR 15.82 billion (equivalent of USD 103.17 million) against second instalment of License Renewal Fee from two Cellular Mobile Operators (CMOs); Telenor Pakistan and Pakistan Mobile Communication Ltd. (Jazz), said a press release. “The amount is being deposited in Federal Consolidated Fund (FCF) as per practice under Pakistan Telecom…

Airbus provides suppliers with an update on production plans

Airbus provides suppliers with an update on production plans

Airbus continues to expect the commercial aircraft market to recover to pre-COVID levels between 2023 and 2025, led by the single-aisle segment. The Company is therefore providing suppliers with an update of its production plans, giving visibility in order to schedule necessary investments and secure long term capacity and production rate readiness, in line with…

Xiaomi’s revenue and profit hit historical high levels in first quarter 2021

Xiaomi’s revenue and profit hit historical high levels in first quarter 2021

Xiaomi Corporation announced its unaudited consolidated results for the three months ending on March 31, 2021. In the first quarter of 2021, Xiaomi’s total revenue and adjusted net profit far-exceeded market expectation. Total revenue for the period amounted to RMB76.9 billion, representing an increase of 54.7% year-over-year while adjusted net profit for the period came in…

Etihad Airways, SAUDIA announce a new reciprocal loyalty agreement

Etihad Airways, SAUDIA announce a new reciprocal loyalty agreement

Etihad Airways, the national airline of the United Arab Emirates, and the Kingdom of Saudi Arabia’s national flag carrier, SAUDIA, announced a new reciprocal loyalty agreement, expanding on the existing codeshare deal between the two airlines, Etihad said in its recent news release. “Members of the Etihad Guest and ALFURSAN programmes can now earn and redeem…

Lexus achieves cumulative global sales of 2 million electrified vehicles

Lexus achieves cumulative global sales of 2 million electrified vehicles

Lexus announced that the luxury brand eclipsed the milestone of 2 million global sales of electrified vehicles at the end of April 2021, the company said in its recent news release. “Since the launch of the RX400h in 2005, Lexus has been a pioneer of electrification in the luxury market, and the models have continued…

Amazon adds Pakistan to its sellers’ list

Amazon adds Pakistan to its sellers’ list

Abdul Razzaq Dawood, Adviser to the Prime Minister on Commerce and Investment said on Friday that e-commerce giant Amazon confirmed that Pakistan has been added to its sellers’ list. The adviser tweeted, “Further to my previous tweet, today @amazon has confirmed that Pakistan has been added to its sellers’ list. It is a big accomplishment…