In a bid to promote e-commerce exports Alibaba.com Host First Faisalabad Seller summit at FCCI

          

Alibaba.com a global platform for B2B e-commerce organized 1^st Faisalabad seller summit in collaboration with Faisalabad chamber of Commerce and Industries (FCCI). The event focused on huge potential of Faisalabad exporters to tap into the digital B2B buyer base. With over 600+ registrations of the event more than 200 attendees visited FCCI to witness the session and 200+ people joined online.

Faisalabad seller summit event themed “Go Export with Alibaba.com” was attended by Mr. Atif Munir Sheikh- Honourable President, Faisalabad Chamber of Commerce & Industries as guest speaker. Whereas other speakers included Mr. Song Song- Business Head, Alibaba.com Pakistan, Mr. Syed M. Safwan- Owner, Syed & Sons (10+ years Alibaba member) , Mr. M. Haider Zaidi- Export Law Specialist, AUC| Law, Mr. Tariq Mehmood Mian- VP, & Board Raaziq International Logistics.

Speaking on the occasion Mr. Atif Munir Sheikh President, FCCI, said “On behalf of Faisalabad business community we are thankful to Alibaba.com for unlocking e-commerce export opportunities for local SMEs. There is a lot of untapped potential for the growth of e-commerce in Pakistan therefore we urge Alibaba.com to help unlock it for Pakistan’s sustainable economic growth.”

While addressing the session Head of Alibaba.com Pakistan Mr. Song Song, said “Faisalabad has traditionally been the manufacturing city of Pakistan with a lot of traditional manufacturers in textile and other industries with superior product. Faisalabad in particular, contributed US$3.2 billion in export volume or 12% of the country’s total export volume in fiscal year 2021-22. However, participation of Faisalabad exporters in Alibaba.com is just 1.2%. We are promising to invest as much resources as we can to create and enable the eco system to make Faisalabad the next digital trade hub in the world.’’

Pakistan is one of Alibaba.com’s most important supplier markets given its geographical advantage, skilled labour force and budding entrepreneurial SMEs looking to export. Since fiscal year 2019-20, after establishment of a Alibaba.com team dedicated to the local market, company has been enhancing support for Pakistani suppliers by forming collaborations with local channel partners, making Pakistan-specific platform enhancements and creating curated training modules for sellers here. As a result, Alibaba.com is glad to see a notable growth in Pakistani supplier base over the past few years, and Pakistan has now become No.1 overseas supplier market in terms of number of paying suppliers.

realme Will Create 15 "1 Million Shipment" Markets Within the Next Three Years While Entering the Second Stage of Entrepreneurship

          

Sky Li, realme’s Global CEO and Founder detailed realme’s future plans in an open letter released ahead of the 828 realme Fan Fest

 

realme is fast approaching the four year anniversary of its debut as an independent brand in the smartphone market. The upcoming occasion of the realme 828 Fan Fest provides a wonderful opportunity to appreciate the long, arduous path the tech democratizer has taken to reach this stage and look forward towards what realme has in the pipeline. realme started off with the mission to empower the next generation of youth by providing them with access to leap-forward technology and trendy design concepts. Over 140 million loyal fans around the globe have been satisfied with the innovation, accessibility, and community that realme brings to the table. The task that realme had entering the market was an intimidating climb, with a highly saturated mobile phone market awaiting them and long-established players occupying the majority of the market.

 

Possessed by the “Dare to Leap” spirit, realme persevered in their quest to fulfill their mission, never faltering along the way. The desire to serve the youth with the innovative tech and design they need helped fuel the rising smartphone brand to keep going despite any challenges. As of now, realme still remains the only smartphone brand that is fully focused on the youth and empowering them to get ahead. With the complex and ever-changing market landscape that realme has found itself in, it is pertinent to ask whether the global smartphone brand can maintain its pace of growth, continue to surprise its user base, and mold itself according to changing times and economic conditions. After analyzing its global strategy, Sky Li is confident that they will be able to rise to the challenge.

 

Over time realme has gained confidence as a brand with its fan base sprawling across the globe. At present time realme has a firm foothold in the global smartphone industry and data shows that their comprehensive market rollout has been remarkable effective. While it is fun to recall the glory days of past, realme never dwells on them for too long as it has a forward-thinking focus. According to Sky Li, “realme is now entering its second stage of growth as a startup, and in this next phase of our journey we will further refine our focus on targeted, long-term growth. This means an added focus on product quality and market focus”. In order to better understand this new strategy, we have to delve a little further into what strategic changes realme is going to make going forward.

 

On the product side, realme is going to adopt the “Simply Better” strategy which will place a premium on product by increasing investment in R&D by 58% year-over-year in order to further advance its abilities of making essential tech innovations more accessible. With this strategy, realme is placing a greater emphasis on its number series of phones, which have famously been realme’s vehicle for tech-democratization in the past and are realme’s most essential product line. Number series phones pack high-tech features into a visually attractive design with an affordable price tag. In addition to an increased focus on improving product quality, realme will also be streamlining their operations by pooling their resources into global unified development to be more in line with the “Simply Better” strategy. Product improvement is seen as the cornerstone of realme’s growth moving forward.

 

The market side will be seeing positive changes as well. Now that its core markets have been defined, realme will place a new emphasis on stability over expansion. This new market focus goes by the name of “Market Cultivation” strategy, which will place particular focus on its two 10-million shipment markets while working towards building a core of fifteen 1-million shipment markets. Currently, realme has seven markets with annual shipments exceeding 1 million units with a spot in the Top 5 in certain markets. realme isn’t afraid of dreaming big and stands strong in its belief that it can climb even further to the very top.

 

The broad market uncertainty that the industry is currently facing does not phase realme. The smartphone brand is confident in their place in the industry and believes that difficult moments do not last forever so it is important to keep persevering even through stormy weather. In today’s age, smartphones have made us more capable than ever with AIOT expanding these capabilities even further. The future realme is working to build is one where technology brings youth around the world closer and inspires them to do great things in their lives. realme will remain to see this dream into fruition, no matter how many years it may take.

Power Cement joins ACCA’s strong global community of Approved Employers

              

Power Cement Limited is pleased to announce inclusion in ACCA’s 7,800 plus global Approved Employer Network under the Trainee Development – Gold Category. The Association of Chartered Certified Accountants (ACCA) is one of the world's leading professional accountancy body, and Power Cement’s approved employer accreditation reflects its commitment to uphold the highest level of support on technical, professional, and ethical skills to the students, affiliates, and members of ACCA. The ACCA Approved Employer Program recognizes and rewards employers’ quality staff training & development and ensures the highest professional standards for both the employers and the students/employees.

                  

Power Cement hosted a ceremony at its Head Office in Karachi to commemorate the milestone, which was attended by the leadership of Power Cement and ACCA. Speaking at the occasion, Nasim Beg, Chairman – Power Cement Limited, said, “Power Cement emphasizes on nurturing its employees by providing them with the right opportunities to excel in their careers and to add value to its business. We look forward to creating a positive impact through this partnership with ACCA”

Muhammad Kashif Habib, CEO – Power Cement, said “We are excited about this partnership with ACCA as the Approved Employer accreditation will surely lead to hiring and retaining of top finance talent at Power Cement.”

Assad Hameed Khan, Head of ACCA Pakistan, shared his thoughts, “It is heartening to see Power Cement investing in talent and developing them into future business leaders. I am particularly impressed by how Power Cement is working on promoting the use of sustainable energy in Pakistan and contributing towards a cleaner and greener Pakistan”.

Power Cement joins ACCA’s strong global community of Approved Employers

             

Power Cement Limited is pleased to announce inclusion in ACCA’s 7,800 plus global Approved Employer Network under the Trainee Development – Gold Category. The Association of Chartered Certified Accountants (ACCA) is one of the world's leading professional accountancy body, and Power Cement’s approved employer accreditation reflects its commitment to uphold the highest level of support on technical, professional, and ethical skills to the students, affiliates, and members of ACCA. The ACCA Approved Employer Program recognizes and rewards employers’ quality staff training & development and ensures the highest professional standards for both the employers and the students/employees.

                  

Power Cement hosted a ceremony at its Head Office in Karachi to commemorate the milestone, which was attended by the leadership of Power Cement and ACCA. Speaking at the occasion, Nasim Beg, Chairman – Power Cement Limited, said, “Power Cement emphasizes on nurturing its employees by providing them with the right opportunities to excel in their careers and to add value to its business. We look forward to creating a positive impact through this partnership with ACCA”

Muhammad Kashif Habib, CEO – Power Cement, said “We are excited about this partnership with ACCA as the Approved Employer accreditation will surely lead to hiring and retaining of top finance talent at Power Cement.”

Assad Hameed Khan, Head of ACCA Pakistan, shared his thoughts, “It is heartening to see Power Cement investing in talent and developing them into future business leaders. I am particularly impressed by how Power Cement is working on promoting the use of sustainable energy in Pakistan and contributing towards a cleaner and greener Pakistan”.

Mian Aslam Iqbal Assured Full Support For CBD Punjab and RUDA

            

Chief Executive Officer of Lahore Central Business District Development Authority (LCBDDA) & Ravi Urban Development Authority (RUDA) Mr. Imran Amin had a meeting with the newly appointed Provincial Minister for Housing and Industries Punjab, Mian Aslam Iqbal to discuss the progress of Pakistan’s first business district known as Central Business District Punjab (CBD Punjab) and Ravi Riverfront project.

Secretary Housing Punjab Mr. Shakeel Ahmed, COO of LCBDDA & RUDA Brigadier (R) Mansoor Janjua, Executive Director Commercial of LCBDDA Mr. Mohammad Omer Executive Director Commercial of RUDA Mr. Kashif Qureshi were also present during the meeting.

CEO of LCBDDA and RUDA gave an overview of ongoing and previous activities which have done wonders in terms of wealth generation for the development of Punjab. The housing minister was also briefed about the upcoming future projects of both authorities which will turn out to be a great contribution to the development of the province.

The Provincial Minister lauded the pace of development work and ensured the full support of the Punjab government for the completion of the projects. He further added that we are well aware of the significance of CBD Punjab and RUDA in the development of the province. Uplift and betterment of the public sector is our utmost priority

The Punjab government has instructed all the concerned departments to ensure public relief. The monitoring mechanism of the ongoing projects in Punjab is blatant proof that the provincial government is committed to providing maximum relief to the public.

Real Fans Put the Pedal to the Metal for realme's Mega Azadi Ride with Critical Mass Lahore

          

Lahore’s streets came alive on Sunday morning for realme Fan Fest’s mega cycling ride as part of the Independence Day festivities 

The residents of Lahore came alive with the rising sun on the morning of Sunday, August 14, 2022. Decked out in their finest cycling gear or patriotic garb, they took to the streets to partake in the realme x CML Mega Azadi Ride. The ambitious cycling tour of Lahore had a fixed route starting at the famous Liberty Chowk, making its way to the historic Jinnah Library, only to close the loop back at the starting point. The starting time of 6 AM presented a real challenge for realme’s daredevil fans as the sweltering heat and humidity presented obstacles to conquer on their journey which they took on enthusiastically.

                            

 

The spirit of adventure and daring attitude of the realme community is what inspired realme to be the main sponsor of the Mega Azadi Ride. realme was not the only sponsor of this magnificent event. Also lending a hand were MilKar, Life in Lahore, Gatorade, BlocBelt, Commissioner Lahore Division, and Shahid Cycle Hub. With over 300 people in attendance across bicycles and double-decker buses, the early morning Independence Day spectacle had an amazing turnout.

   

Cyclists started to gather at dawn around Liberty Chowk in anticipation of the start of the ride. Some cyclists brought their own cycles to ride while those who had registered beforehand were able to collect a cycle at the venue to borrow. Double-decker buses were also stationed at the venue to accommodate for those that wanted to partake in the festivities but could not or did not want to cycle. These buses along with trucks followed the procession of cyclists and also provided the opportunity for tired cyclists to turn in their cycles and get a ride from one checkpoint to the other. The total distance traveled by the cyclists was an impressive 20KM, divided into two 10KM bouts.

Once the group made their way to the midway point at Jinnah Library, they were able to replenish their energy with a short rest and refreshments. At the historic landmark, Syed Mashood Hassan, the Country Director of realme Pakistan, and Captain (R) Muhammad Usman Younis, the Commissioner of Lahore, delivered inspiring speeches to rile up the public. A bouquet was then presented to the Commissioner Lahore by team realme as a token of appreciation followed by a spirited sing-along of Pakistan’s national anthem. Cyclists were then given the clear to resume their journey back while pedestrians were loaded back into the buses to be taken to the starting point.

The realme X CML Mega Azadi Ride presented a unique Independence Day celebration for people of all ages. The air was heavy with the spirit of camaraderie as cyclists stopped along the way to help each other make it through the physically grueling course. realme wanted to celebrate unity within the country as a reflection of its tight-knit fan community. Events like these are imperative in creating a shift in how Pakistan’s population spends its leisure time. A push from realme in the right direction can inspire people to adopt a more active, risk-taking lifestyle. realme’s hope is to deliver many such unique events for its fans in the future.

ACCA welcomes ISSB standards but warns greater guidance and consistency required

         

ACCA says that the draft standards from the International Sustainability Standards Board (ISSB) are urgently needed to provide a consistent global base line for companies reporting on sustainability-related financial information.

While welcoming the two exposure drafts (EDs) ACCA notes that it is imperative that reporting drives the necessary systematic change in sustainability reporting and that operational changes take place in companies and that investors use the information provided to allocate capital more efficiently and responsibly.

Commenting on the ISSB’s exposure draft (ED) IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information ACCA is calling for a clear definition of the meaning of sustainability-related financial information. The global accountancy body is also calling for standard setters to give greater guidance on how entities will determine materiality when reporting on sustainability issues.

While agreeing with the requirements, ACCA also warns that proposed disclosures about risks and opportunities emerging from companies’ supply chains, including Scope 3 emissions, will present new disclosure challenges for many companies as will working out how to provide forward looking information.

 Sharon Machado, head of Sustainable Business, ACCA says: ‘The ED does not define what is ‘sustainability-related’. As a result, the breadth and scope of the risks and opportunities that need to be considered and disclosed is left to the judgement of the preparing companies, to the detriment of consistent application, comparability, as well as cost and effort in reporting.

 ‘We would urge the ISSB to provide a clearer indication, both in the standard and through illustrative examples, as to what sustainability might cover. ACCA suggests the ISSB could look to the six integrated reporting capitals to serve as useful framing for a broad and holistic understanding of ‘sustainability.’’

ACCA is also calling on the ISSB to resist making disclosure requirement too voluminous. For reporting to serve the needs of users and bring about more effective and sustainable allocation of capital, it is imperative that information is presented in a clear and concise way. Disclosure overload will make it more difficult for investors and other stakeholders to find the information that they need.

Commenting on IFRS S2 Climate-related Disclosures, ACCA questions whether the SASB-derived industry-specific disclosure requirements fully reflect relevant disclosure topics and metrics in an emerging economy context. ACCA argues that until field-testing is done to more fully assess the international applicability of the industry-specific requirements, they should not form a mandatory part of the standard, but rather take the place of application guidance.

ACCA also highlighted a global skills shortage with the demand for sustainability reporting talent far exceeding supply. This lack of human resource could further increase compliance costs. ACCA calls for the ISSB to work with regulators, professional bodies, IFAC and the World Bank to upskill existing talent and build capacity in the reporting professions worldwide.

ACCA’s response drew on the assistance of ACCA’s Global Forum for Corporate Reporting and Global Forum for Sustainability. It has also been informed by global member outreach events and roundtables held in the ASEAN region between May and July 2022. As part of its work to directly inform the ISSB’s standard-setting efforts, ACCA is undertaking a joint research project with the University of Glasgow on climate-related disclosures in the chemicals and constructions materials industries. Preliminary findings have been presented to ISSB staff, and the final report will be published in September.

Commenting on the implementation of the standards, ACCA is urging the ISSB to develop an implementation road map in conjunction with its jurisdictional working group to guide national regulators and ensure consistent implementation across the globe.

Sharon Machado concluded: ‘A phased approach to implementation that reflects the size of entities and the resources required to dedicate to implementation may be appropriate. Smaller non-listed entities will require the longest lead time before the requirements become mandatory for them.

‘We would expect that companies would want to have a dry run before being required to fully comply with the standards. The implementation roadmap should reflect this, with period of voluntary adoption before the standards are adopted on a mandatory basis.’