Category: Business

The most important business news, explained in a young, easy to understand way. News that affects young career professionals.

  • Mila Kunis raised $35 million for Ukraine relief in less than 30 days

    Mila Kunis raised $35 million for Ukraine relief in less than 30 days

    Since the beginning of the Ukraine crisis, individuals all over the world have come together to offer monetary and non-monetary relief to the war-torn country. Mila Kunis and her husband Ashton Kutcher were among the first fundraisers to help.

    The American actress instantly created a GoFundMe page to raise funds for Ukrainian refugees fleeing for their lives. They even kicked off the fund with a $3 million donation of their own, and donations only escalated from there.

    The couple had exceeded their $30 million goal in less than 30 days and then increased it to $40 million. They have raised more than $35.3 million from nearly 73,400 donors as of March 29, 2022.

    DST Global and Larry Ellison, the co-founder of Oracle Corporation, are among the fund’s major contributors. DST contributed a total of $3.5 million to the cause, with Ellison donating the most money of all, $5 million.

    Several anonymous donors, in addition to many others, gave significant contributions totaling more than $1 million.

    GoFundMe created a hub for verified fundraisers trying to raise money for humanitarian help in Ukraine in the wake of the ongoing conflict between Russia and Ukraine.

    Presently, the hub organizes fundraisers ranging from supporting major humanitarian groups such as ‘Save the Children’ to raising donations for particular Ukrainian families.

    To get verified on the donation hub, GoFundMe’s trust and safety team need to know the identity of the organizer along with how the funds will be used and who they are raising money for.

  • Intel to launch world’s fastest 5.5 GHz CPU on April 5

    The Core i9-12900KS processor from Intel which is also claimed as the “world’s fastest CPU” will be released on April 5, 2022. Expert PC builders will demonstrate their abilities by putting together a number of PCs, presumably around the new alder lake processor, at the Intel talking tech event, which will be streamed on Twitch.

    The ‘KS’ version of Intel’s flagship, which effectively features the high-end 12900K silicon capable of being pushed to higher clock speeds and can boost up to 5.5GHz, is advertised as the ‘world’s fastest desktop processor’.

    However, this speed can only be achieved for a short period of time on a single core, with the rumor mill claiming that the all-core boost will be 5.2GHz which again is really amazing.

    Given that we have already seen or heard of the forthcoming flagship advertised on some websites, it is no surprise that the introduction of Intel’s Core i9-12900KS is so close.

    As Intel claims that the 12900KS is the “world’s fastest” desktop CPU considering the clock speeds, what PC customers and heavy gamers really want to know is how well it works in real-world applications and high-end games.

    Keeping in view the overall hype, it does not seem like it is going to disappoint the PC builders or gamer’s community.

  • Pakistani assembled Chery Tiggo SUVs to be delivered in June 2022

    Ghandhara Nissan Limited (GNL) has officially opened bookings for Chery Tiggo 4 Pro and Chery Tiggo 8 Pro, introduced with an ex-factory price of Rs 4.6 million and Rs 6.6 million respectively.

    The booking price of Tiggo 8 Pro is Rs 1.5 million and that of Tiggo 4 Pro is Rs 1 million and the expected delivery time for both models is June 2022. 

    The company partnered with Chinese Chery Automobile Co Ltd. for local assembly and distribution of the Tiggo SUV series in 2021. Chery Tiggo will now be the 12th locally assembled SUV in Pakistan.

    GNL said it had started assembling the SUVs and would be delivering the first batch of the vehicles in April at its authorized dealerships. Chery Tiggo 4 is a 1.5L Turbo five-seater vehicle, while Tiggo 8 Pro is a 1.6L Turbo seven-seater SUV.

    Considering the Auto Development Policy (ADP) 2016-21, Toyota Fortuner was the only locally assembled SUV in Pakistan.

    However, nearly a dozen SUVs were introduced after the auto industry was encouraged by the government and new entrants started stepping into the local auto market of Pakistan.

    Tiggo 8 Pro will compete against 7-seater vehicles in the local market, including the most popular Toyota Fortuner, and the offerings from new entrants: Changan Oshan X7 Comfort, DFSK Glory 580 Pro, as well as Kia Sorento. While the Tiggo 4 Pro will be a direct rival to 5-seater crossovers like KIA Stonic, MG ZS, and the newly introduced Peugeot 2008. 

  • Amitabh pays 2.61 crore PKR as GST after selling his NFT collection for 17 crore PKR

    Amitabh pays 2.61 crore PKR as GST after selling his NFT collection for 17 crore PKR

    The Bollywood superstar, Amitabh Bachchan has finally paid 2.61 crore PKR in GST for the sale of his non-fungible token (NFT) collection, which was auctioned for 17.16 crore PKR in the first week of November 2021.

    Some of the netizens may remember that Bachchan had received a warning from the Directorate General of Goods and Services Tax Intelligence (DGGI) to pay the imposed GST.

    Despite Bachchan’s deposit, the DGGI is expected to continue its probe into tax avoidance.

    An NFT venture stated in August 2021 that Bachchan’s NFT collection would be available on its platform. Bachchan had signed an agreement with ‘Rhiti Entertainment’ to convert some of his pictures or illustrations into digital assets.

    Interestingly, this also made Bachchan one of the first Indian actors to support digital art and NFTs.

    Apart from the photos and posters, a famous collection of poems written by Bachchan’s father and recorded in his own voice, ‘Madhushala’ was the most successful auction.

    The NFT auction had garnered 17.16 crore PKR and attracted 18 percent GST. Big B was bound to pay taxes worth 12.61 crore PKR from the sale, which has been now deposited by the actor.

    Read More: Crypto companies at risk of closure in the United Kingdom

    For those who do not know much about NFTs, it is a type of digital asset that represents real-world or sometimes abstract elements. This can be art, photography, meme, music, game characters or any graphic one can think of. This data unit is kept on a blockchain, a digital ledger that makes it non-transferable and unique.

  • Apple to offer subscription-based service for selling iPhone, iPad, MacBook

    With a new subscription-based service, Apple is planning to launch a new method to buy iPhones as well as other Apple gear. Which will allow apple customers to pay a monthly subscription fee and receive an iPhone of their choice, as well as free upgrades when new products are released.

    This plan will differ from Apple’s and carriers’ current installment programmes, as it will be a pre-decided or custom monthly fee plan rather than the cost of the phone divided by 12, 24, and 36 months of installments.

    All applications including Apple Music, Apple TV+, Apple Arcade, iCloud+, Apple News+, and Apple Fitness+ will all be included in the iPhone subscription service, which will be linked to users’ existing Apple ID accounts.

    It may also offer bundle free Apple Care and even Apple One services, such as Apple Music, Apple TV+, Apple Arcade, iCloud+, Apple News+, and Apple Fitness+.

    The new subscription service may start by the end of this year with iPhones and eventually expand to the rest of Apple’s gadgets including iPads, Apple Watch, and the MacBook.

    Subscription-based selling of phones is not entirely new as Google already operates its Pixel Pass program in the US which lets customers choose between the Google Pixel 6 or Pixel 6 Pro offered with Google’s own first-party services at very affordable monthly charges.

  • Honda Pakistan announces a massive price hike for all cars

    Following the price hike trend by several automakers in Pakistan, Honda Atlas Cars Limited (HACL) has increased the prices of all cars by Rs 250,000 to Rs 400,000. The new prices announced by Honda are effective from today, March 26, 2022.

    Considering the flagship and most popular sedan from Honda, the new Honda Civic 2022 1.5L Turbo M-CVT, Oriel 1.5L Turbo M-CVT, and RS 1.5L Turbo LL-CVT will now cost Rs 5.399 million, Rs 5.649 million, and Rs 6.499 million, after the hike of Rs 300,000, Rs 250,000 and Rs 350,000 respectively.

    Top variants of Honda City, including City 1.5L CVT, 1.5L City Aspire Manual, and 1.5L Aspire CVT now cost Rs 3.446m, Rs 3.579 million, and Rs 3.749 million, after a jump of Rs 295,000 to Rs 300,000.

    The new price of Honda City 1.2L MT and CVT variant is Rs 3.129 million and Rs 3.249 million, which saw a surge of Rs 400,000 and Rs 300,000 respectively. After an increase of Rs 390,000, Honda’s MPV BR-V CVT S is now priced at Rs 4.079 million.

    It is worth noting that the retail price is applicable on orders made till November 2021 as well as full payment received by March 31. The current retail price is also applicable on back order and full payment till March 24 with expected delivery in June.

    Moreover, Honda revealed that 50 per cent of the price increase would be applicable on back order with expected delivery till June and full payment received till April 30.

  • A thori sasti SUV? Chery Tiggo 8 Pro to launch within a week in Pakistan

    Ghandhara Nissan Limited (GNL) is officially launching the Chery Tiggo 8 Pro SUV in Pakistan within a week. The company has been teasing the SUV for almost a year now. Finally, it seems like the long-delayed SUV will be seen on Pakistani roads in the coming months.

    As per a report, GNL may start bookings for Tiggo 8 Pro as soon as 26 March 2022. The company may only debut the vehicle in a digital event for now, as its official launch event is expected after Ramadan.

    The automaker has not disclosed any in-depth details regarding the price of the upcoming SUV, however, it is expected to be priced between Rs. 6 million to Rs. 7 million.

    Chery Tiggo 8 Pro is a 7-seater, Chinese crossover SUV that will compete with Kia Sorento as well as the Changan Oshan X7. It will have a turbocharged 1.6-liter 4-cylinder petrol engine which produces 195 horsepower with 290 Newton-meters of torque.

    It can be a huge success in the Pakistani market if it gets a price tag of below Rs. 6.3 million, considering the hefty price tags on sedans in the Pakistani auto market.

  • Crypto companies at risk of closure in the United Kingdom

    A number of cryptocurrency businesses in the United Kingdom (UK) may be forced to shut down if they fail to register with the financial watchdog before a major deadline next week.

    Firms providing crypto services in the UK must register with the Financial Conduct Authority (FCA) by 31 March, 2022. The FCA is in charge of supervising how digital asset firms tackle money laundering.

    In 2021, the authority stretched the deadline for businesses on a temporary register to continue trading while seeking full license. Once the deadline passes, the temporary register will be closed.

    Many crypto businesses have withdrew their applications, according to the FCA, since they did not match the required anti-money laundering criteria.

    With only days until the deadline, the status of companies on the temporary register including Revolut, a $33 billion fintech business, and Copper, a crypto start-up is in trouble which counts on UK Finance Minister, Philip Hammond as its advisor.  

    Read More: Pakistan decides to make cryptocurrency illegal

    Some businesses are now withdrawing their applications, including B2C2, a London-based crypto trading firm, just removed itself from the FCA’s provisional registry.

    B2C2’s spot trading activity has been relocated to the company’s U.S. Entity from this week. The firm’s business is now unaffected as it is handled by an FCA-authorized subsidiary.

  • Gree offers 10 years of peace of mind

    Gree offers 10 years of peace of mind

    Gree is a global technological industrial giant established in 1991. It is a world-leader in the air conditioners category and a major player in the fast-growing global consumer appliances industry, with a robust presence in 200 countries. As a pioneer in the global home appliances sector, GREE has invested in research and development (R&D) to maintain a competitive edge in the industry and is committed to making life beautiful for its customers. They strive to innovate and create new ways to help people live well and stay comfortable no matter where they are. Gree offers a range of home appliances which includes refrigerators, water dispensers, heaters, and air purifiers but has established itself as a giant in the air conditioning category.

    Gree makes one of every three air conditioners in the world.

    Gree takes pride in its premium and technological superior range of Fairy Inverter Air Conditioners and the beautiful and efficient Pular Inverter Series. They value reliability and that is why they have an unparalleled testing system in place and cutting-edge manufacturing plants to ensure superior products for their customers.

    Gree has a stellar reputation for producing unmatched superior air conditioners supported by the incomparable trust of their customers and celebrating this milestone of mutual trust and respect Gree is announcing an incredible extended warranty campaign for its Fairy and Pular Inverter Series Air Conditioners. This includes 10 years’ warranty on compressors, 4 years’ warranty on PCB Chip, 2 years’ evaporator/condenser, and 1-year parts/services of air conditioners. It can be safely said that Gree is offering the strongest warranties in the market today.

    Compressor can easily be called the heart of the air conditioner – it is the most important and therefore an expensive part of the system. What more can a customer ask from a brand when they are offered a 10 years’ warranty on its compressor. Gree has surpassed customer expectations with such a strong warranty, boosting the customer’s confidence and giving them peace of mind.

    PCB chip is the motherboard of the air conditioners – and they can be easily damaged due to improper voltage during installation, by short circuiting, exposure to elements, and accidental impact, and Gree offers an incredible 4 years’ warranty on PCB Chip of its inverter series guaranteeing ease of mind.

    In addition, Gree is generously offering 2-years warranty of the evaporator and condenser and a 1-year warranty of parts/services – that allows the customers to avail the services of skilled technicians for repairs and also replacement of any part of the air conditioner, hassle-free. Gree is certainly making life beautiful for its customers by providing them matchless warranty and with it establishing a strong bond of trust.

    The confidence that Gree promises to its customers is evident through its customer-centric initiatives. It builds customer confidence and trust in Gree, building a stronger relation and therefore making Gree inverter air conditioners, the most well-loved and trusted brand in Pakistan.

    So, bring home peace of mind, bring home GREE!

    This article is sponsored by Gree

  • Car prices in Pakistan expected to increase by 15 per cent

    Three prominent automakers in Pakistan including Suzuki, Honda, and Hyundai are expected to announce a price hike within two weeks, due to the depreciation of the rupee against the US dollar and rising prices of imported raw materials.

    Analysts expect car prices to increase by up to 15 per cent. It is worth noting that Pak Suzuki and Kia Lucky Motors have already announced a price hike for their vehicles.

    Experts predict that more auto assemblers and Original Equipment Manufacturers (OEM) are expected to jump on the price hike bandwagon.

    Considering the imminent price hike, Suzuki Bolan may witness an increase of Rs. 172,000 in its current price of Rs. 1.17 million, which will cost Rs. 1.35 million after the hike.

    The all-new Honda Civic Vti Oriel 2022 which costs Rs. 5.4 million is expected to be priced at Rs. 6.2 million after a massive increase of Rs. 810,000 in its current price.

    Hyundai’s only sedan, the 2.0 Hyundai Elantra GLS after getting the expected hike will cost Rs. 5.1 million as compared to its current price of Rs. 4.4 million.

    Read more: ‘Hamaray paas paisa ziada aya hai’: PM Khan reveals reason for slashing petrol, diesel prices

    Rising inflation and hefty petrol prices have immensely impacted the lives of people, as it has forced several car owners to switch to a two-wheeler for daily commuting.