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Business & Commerce

Bykea gets $5.7m worth of investment

KARACHI: Bykea, the ride-hailing app developed completely in Pakistan, has completed its first round of investment and bagged $5.7 million. Venture capital fund Sarmayacar and institutional investors from Vietnam, Singapore and the Middle East invested in the local transport platform, said Bykea Founder and CEO Muneeb Maayr at a press conference at the National Incubation Centre (NIC) Karachi on Tuesday. He informed the media that Pakistan had 17 million bikes on…

Pakistan Among Tourists’ Hot Favorites for the Year 2019

Recently, Forbes magazine published its annual list of ‘The 10 Coolest Places to Go in 2019’, and included Pakistan among tourists favorite. This comes as breath of fresh air for the country which had been deprived of foreign visitors for more than a decade. With an ever improving security situation in Pakistan the tourism industry has been budding again for past few years now and Forbes including Pakistan in their…

Hayat Kimya to invests $330 Million in Pakistan

Hayat Kimya is a world renowned FMCG company and is worlds 5th largest branded baby diapers and tissue manufacturer in Eastern Europe, Africa and Middle East. The company has planned to make 9th largest investment in Pakistan by planning to spend $330 million initially to kick start the project for which a 100-acre land has been acquired to install an ultra-modern manufacturing plant. Hayat Kimya has started to work at…

JW Forland Inaugurates $150 Million Project in Islamabad

The Chinese automaker JW Forland recently inaugurated its $150 million assembly plant in Islamabad. Attending the launch ceremony, Prime minister Imran Khan welcomed the initiative and indicated growth of the job market in Pakistan. The premier touted the government’s efforts in bringing beck foreign investments, saying “We didn’t have enough dollars before but we are working on bringing more dollars into the economy”. “PTI government is facilitating the foreign investors…

Pakistan to become a hub for investment by Spanish superstore ‘Condis’

KARACHI: ‘ Condis ’, an established Spanish superstore plans on investing up to $1 billion in Pakistan. Veteran journalist Azfar Bukhari played host to Condis Supermarket’s six-member delegation. The delegation was in Pakistan for 4 days and visited Multan, Rawalpindi, Jhelum and Islamabad. The purpose of the visit was for them to explore the possibility of launching in Pakistan. The delegation was headed by the Director Expansion Mr. Jose…

Coca-cola and PepsiCo to invest $1.4bn in Pakistan

Prime Minister Imran Khan met executives from Coca-Co and PepsiCo; as per an announcement by the Government of Pakistan, the two major beverage companies will be investing $1.4bn in Pakistan over the next five years. Mike Spanos, PepsiCo’s Asia, Middle East and North Africa CEO, headed the delegation that visited Pakistan to pledge making further investment of $1.2bn in the next five years. Coca-Cola has already invested over $500m in…

Pakistan’s IT exports surpass $1 billion mark, making history!

For the first time in history, Pakistan’s IT exports have crossed the $1 billion mark, underlining the significant progress that has been made in this field over the past decade. While the Pakistani economy is currently weathering some difficult times, the silver lining provided by the IT and e-commerce arena portends better times ahead if the country’s economic managers make the right investments in the technology sector. According to data…

telstar-18 Pakistan-made footballs to make their presence felt in 2018 FIFA World Cup

Pakistan-made footballs Telstar 18 to make their presence felt in 2018 FIFA World Cup

While Pakistan may not be participating in the upcoming 2018 FIFA World Cup in Russia, the country will nevertheless be making its presence felt at the mega event, as a Sialkot-based sports goods manufacturing firm Forward Sports will be manufacturing the official football of the sporting extravaganza, called the Telstar 18. This was announced by the Ministry of Commerce last week. The same firm has also had the distinction of having…