http://www.upscalepakistan.com/

UpScale Pakitsan, I. I Changigar Road, Karachi Manora (2025)

20/03/2023

At its upcoming policy review, the State Bank of Pakistan is likely to raise interest rates even higher in an effort to combat crippling inflatio
The monetary policy committee is scheduled to begin its next meeting on April 4, according to reports in local media citing a brokerage business, and the central bank is anticipated to raise its policy rate by 100 bps (basis points) to a historic 21 percent.

The firm apparently performed a poll and revealed that the market is awaiting the impending monetary policy by taking responses from different sectors.

15/03/2023

Sunwalk Group, a Chinese telecom infrastructure company, plans to invest $2 billion in Pakistan’s telecom sector for the deployment of an optical fiber network, encompassing an area of 100,000km.
“Sunwalk has obtained the license to be a telecom infrastructure provider (TIP) in Pakistan. The company will lay 100,000km of fibre cable in Pakistan with an investment of $2 billion,” said Federal Minister of Information Technology and Telecommunication Syed Amin-ul Haque, during a meeting with a delegation led by the Chairman of Sunwalk Group, Hou Xingwang, on Tuesday.
During the meeting, there was a detailed discussion regarding investment opportunities and the telecom infrastructure sector in Pakistan, read a statement released by the Ministry of IT and Telecom.
It was learnt that Sunwalk has already invested about $5 million in installing Optical Fiber Cable (OFC) in Pakistan.

09/03/2023

Discover the Latest Open Market Exchange Rates in Pakistan Today!
9th March 2023

08/03/2023

On Tuesday, Afghanistan Cricket Board (ACB) announced that they will host Pakistan for a three-match Twenty20 International series in Sharjah later this month, marking the first bilateral series between the two neighboring countries.

The ACB confirmed that this series will mark the beginning of Afghanistan's international home season 2023-24.

Cricket Australia (CA) had previously refused to play in Afghanistan's One-day International series in March 2023 as well as host Afghanistan for a Test match in November 2021 due to concerns about the treatment of women in the country.

ACB chairman Mirwais Ashraf expressed appreciation for Pakistan Cricket Board's decision to play Afghanistan, and the chairman of PCB Interim Management Committee Najam Sethi welcomed the series.

01/03/2023

Green hydrogen, which has been of interest to the renewable energy sector for a long time, is becoming a game changer due to its crucial applications across industries and its contribution to clean energy transitions.
Achieving energy transition, meeting decarbonization goals, and establishing leading enterprises as market authorities require the development of hydrogen.
According to a recent report by GlobalData, the global capacity for producing green hydrogen increased by 44% from 2021 to 109 ktpa in 2022.

The report identifies deals, trends, and investments as helpful benchmarks for determining the top firms fueling the growth of the hydrogen market.

The rise in completed hydrogen-related deals from 277 in 2021 to 393 in 2022 indicates an upward trend in the development of the low-carbon hydrogen market, which could result in over 111 mtpa of capacity globally by 2030. Although there were more corporate collaborations than governmental ones in 2022, generating money and investing were crucial to the growth of the hydrogen economy. The value of M&A transactions rose to $24.4 billion, and the value of venture capital deals increased to nearly $3,001.1 million in 2022.

The US, Portugal, Canada, Denmark, Egypt, and other nations announced over 111.9 mtpa of low-carbon hydrogen capacity in 2022, and Green Hydrogen International (GHI) announced two major green hydrogen projects with a combined 43 mtpa capacity in Canada. Several businesses, including Fortescue Industries, participated in numerous project investments around the world to diversify their risk.

Despite difficult global economic conditions, low-carbon hydrogen investments increased from 600 to over 1,700 between Q4 2021 and Q4 2022.
According to experts, over 90% of pipeline hydrogen projects as of January 2023 are green, which will speed up the cost reduction along the entire hydrogen value chain and contribute to the development of renewable energy.

27/02/2023

Nokia has announced plans to change its brand identity after almost 60 years, including a new logo and a shift in focus from smartphones to business technology.
The telecom equipment maker is aiming for aggressive growth and plans to sell gear to other businesses, particularly in the enterprise sector. CEO Pekka Lundmark has set a strategy of three stages: reset, accelerate and scale, with the reset stage now complete.
Nokia also plans to review the growth path of its different businesses and consider divestment. Despite the challenging market to sell telecom gear, Nokia expects to see growth in India and a stronger North America in the second half of the year.

25/02/2023

On Friday, the State Bank of Pakistan (SBP) received $700 million in loan proceeds from the China Development Bank (CDB), according to a tweet by Finance Minister Ishaq Dar.

This development will increase the central bank's reserves to almost $4 billion, up from the previously recorded level of $3.259 billion on February 17. This inflow will significantly improve Pakistan's import cover.

Earlier in the week, the finance minister announced that the China Development Bank's board had authorized a $700 million facility for Pakistan. The country's reserves are expected to strengthen further in the coming weeks, as it is nearing a staff-level agreement with the International Monetary Fund (IMF). This agreement will unlock a loan tranche of $1.1 billion and result in financial aid from friendly countries.

aninews

25/02/2023

WhatsApp is expanding its features by introducing capabilities found in rival messaging apps. Recently, WhatsApp has incorporated several features inspired by Telegram, and now it is taking a cue from Google Meet. WhatsApp will soon allow users to schedule group calls, similar to Zoom and Google Meet.

This feature was first observed a few weeks ago on the WhatsApp beta for Android and is now available on WhatsApp beta for iOS version 23.4.0.75 on the TestFlight app.

When a call is scheduled, all group members will receive a notification, making it easy for them to join the call promptly. It is worth noting that the group call scheduling feature applies to both audio and video calls, depending on the call button used to open the context menu. This feature will assist group members in planning their meetings and events in advance. It ensures that everyone in the group is aware of the scheduled time, allowing them to prepare accordingly, without the need for additional reminders. Additionally, it can reduce the likelihood of missed or delayed calls.

As the feature is currently under beta testing, it should not take long to appear on the stable version of WhatsApp for Android and iOS, particularly as it is only a minor feature.

22/02/2023

Pakistan is inching closer to reviving a $6.5 billion bailout from the International Monetary Fund after the parliament approved on Monday the plan to roll out higher taxes.

An agreement is expected to be finalized within three days after most issues were resolved, ARY News reported, citing Hamed Yaqoob Sheikh, secretary at the finance ministry. A bill that will increase the general levy to 18% from 17% and boost tax on imports of luxury items such as mobile phones to 25% from 17% was approved by the parliament.

The government had raised energy prices and let the currency weaken after the IMF called on Pakistan to scrap subsidies and enable a market-determined exchange rate. Although almost all conditions have been met, a key item that remains is further tightening of monetary policy, said Zubair Ghulam Hussain, chief executive officer at Insight Securities Pvt.

State Bank of Pakistan has raised the benchmark rate by 725 basis points since the start of 2022 to contain inflation that quickened to a 48-year high in January. SBP is scheduled to hold its next policy review on March 16.

21/02/2023

Yahoo to lay off 20% of its staff as it cuts advertising tech business
Admitting defeat in the online advertising wars, the former search powerhouse is set to lay off 1,600 employees by the end of 2023.

Yahoo has laid off 1,000 workers, or about 12% of its remaining staff, in a move aimed at restructuring the company’s advertising technology business unit and reallocating its finances more efficiently.

15/02/2023

Petrol Price Likely To Increase By Rs 32 Per Litre From Feb 16 In Pakistan.

15/02/2023

OpenAI's ChatGPT, which has become exceedingly popular in the last few months, is now being used by cyber criminals to create malware, research by threat intelligence company

Users have agreed that ChatGPT is a great way to "make money", as users claimed they made more than US$1,000 per day. Forbes believes hackers did so by impersonating women to enact social engineering attacks on vulnerable targets.

Cyber Security experts already told Cyber Security Hub that according to their forecast the top cyber security threat of 2023 would be crime-as-a-service, and ChatGPT has expedited the process by creating malware for free.

UpScale Pakitsan

20/03/2023

15/03/2023

09/03/2023

08/03/2023

01/03/2023

27/02/2023

25/02/2023

25/02/2023

22/02/2023

21/02/2023

15/02/2023

15/02/2023

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category