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Tag: business
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Khalifa nan-khatai lover, US Ambassador Donald Blome wants more women in the Pakistani workforce
US Ambassador to Pakistan, Donald Blome, visited Lahore from September 4-6 and The Current got the opportunity to sit down with him and have a little chat.
And yes, you read it correctly. The ambassador is a lover of Khalifa nan-khatai. He told us that he discovered the biscuits last year when he came to Lahore. Later, during his February trip, he even stopped by Khalifa Bakers in the Walled City.
Visit to Lahore
Over the course of his latest tour, Ambassador Blome visited PepsiCo’s FritoLay Snack plant and NetSol Technologies Ltd. While the focus of the ambassador’s trip was to foster the economic ties between the United States (US) and Pakistan, special emphasis was placed upon the importance of human rights and inclusive workspaces — particularly in regards to women.“It is not just a matter of simply hiring — there are things you have to change, and ensure a welcoming environment for women with different needs and different requirements to excel in the workforce,” he pointed out.
Playing a leading role in corporate social responsibility, American-based companies have not only created employability in Pakistan, but they endeavour to cater to the local communities through initiatives that actively work towards women’s empowerment as well as education, health, disaster relief, and skills development.
Ambassador Blome cited a USAID programme in partnership with PepsiCo that aims its attention on women farmers of Pakistan who are working in one of the more difficult areas, toiling under a strenuous work environment.
Cultural Barriers
Taking into consideration the socio-domestic constraints that often restrict women from growing in their careers, Ambassador Blome believes that practical initiatives can make workplaces more inviting for women in Pakistan.“It is the simple things; like having child care facilities, providing safe transportation — beyond that is developing a culture that ensures that equal chance is given to women to advance within their jobs and careers, and that they are valued in the same way every other employee is valued.”
He further stated that he hopes American firms like PepsiCo, which has advanced gender parity in managerial roles globally, are exemplary models providing a leadership structure for the local businesses.
“A lot of things work through to get there. But many Pakistani companies are also trying to head in that direction,” Ambassador Blome acknowledged.
Success stories
While a number of US businesses have actively countered gender inequality, Ambassador Blome particularly highlighted the digital sector as a success. He mentioned that not only more women are being employed by IT firms but certain institutes have been accommodating by providing opportunities for flexible work like allowing to work partly at home, partly in office.NetSol Technologies, an American software company, is known for being an “equal opportunity employer with the largest concentration of female employees in Lahore”.
This year, they took an initiative to encourage women back into workspaces — women who are married or left the job after having a baby. This was carried out by creating women-exclusive jobs which catered them through on-office facilities.
Ambassador Blome, however, also hailed a number of “impressive” Pakistani women-led organisations that are in the lead when it comes to facilitating women.
“It is a whole constellation of different issues that come together,” he underlined.
“If companies are able to make that work [i.e. create inclusive workspaces], it would be incredibly effective because it brings unique talents and energy, and it is something badly needed for Pakistan. The participation of women in force is too low here and it hurts the country in many ways — to forgo this incredible resource the country has.”
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Fact Check: Did the Army Chief say ‘No political party is sincere with Pakistan?’
On Sept 4, Chief of Army Staff (COAS) General Syed Asim Munir pledged unwavering efforts to attract foreign investment and rejuvenate the economy during an extensive meeting with members of the business community. In the meeting, he engaged openly and candidly with them.
The controversy started when a renowned businessman Zubair Motiwala appeared in Nadeem Malik’s program on Samaa TV and said during the live show that the Army Chief said that no political party is sincere with Pakistan. Motiwala was unable to complete his statement as his line was disconnected. A clip of his statement went viral online soon after.
Today, senior journalist and anchorperson Saleem Safi took to X (formerly Twitter) and said that his sources have revealed that the Army Chief did not said anything like this. He stated that the Chief’s actual words were, “Every political party has good and bad people.”
The Current reached out to Safi to get a confirmation about his tweet. He said that he confirmed with three people who were present at the meeting that the statement was not said. He said that ISPR also confirmed that the statement was not said by the Army Chief. He also predicted that Motiwala would clarify his statement himself in a few hours.
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WASA Faisalabad lays off over 700 daily wage workers
WASA Faisalabad has laid off over 700 daily wage workers due to the financial crisis, as the country battles with unprecedented inflation.
According to Samaa News, Faisalabad WASA has also issued a notification to the same. According to the Director Admin, he is unable to bear the expenses so daily wager employees will no longer be working in the department.
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Petroleum dealers’ strike averted: Govt approves Rs1.64 per litre profit margin increase
The government has successfully reached an agreement with the Pakistan Petroleum Dealers Association (PPDA) to avert the strike they had threatened last week. After extensive negotiations, the government agreed to increase the profit margin on petroleum products for dealers by Rs1.64 per litre.
Chairman of the PPDA, Abdul Sami Khan, made the announcement regarding the deal. Initially, the government had proposed a lower increase of Rs1.64 per litre, but the dealers, who had originally sought a higher increase of Rs5 per litre, resisted, deeming it insufficient to cover their rising business costs. Eventually, they accepted the government’s offer.
The new profit margin for dealers will be implemented in four phases. Every fortnight, it will be raised by Rs0.41 per litre, culminating in a full raise of Rs1.6 per litre within two months. This will bring the dealers’ margin to Rs7.6 per litre, up from the current Rs6 per litre.
The decision to strike was initially announced by the PPDA in response to the ongoing inflation crisis. The association stated that increasing interest rates and inflation had severely impacted their businesses and demanded a raise in the dealership margin to cope with the challenges they were facing. They also pointed out a decline in sales by 30%, partly due to the smuggling of Iranian fuel into the country.
Read more: Petroleum dealers and Minister set to meet today to resolve profit margin dispute
However, the strike was deferred for two days after the PPDA members engaged in discussions with the State Minister for Petroleum, Musadik Malik. The minister’s visit to Karachi was aimed at convincing the PPDA to call off the nationwide strike.
In summary, following negotiations with the government, the Pakistan Petroleum Dealers Association has agreed to suspend their planned strike, and the government will increase their profit margin on petroleum products in a phased manner over the next two months.
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Pakistan and Russia aim to strengthen bilateral relations in trade, investment, and energy sectors
In an effort to strengthen bilateral relations between Pakistan and Russia, Chairman Senate Muhammad Sadiq Sanjrani engaged in productive talks with Chairman of the Russian Duma, Mr Volodin, during a delegation-level meeting held in Moscow on Wednesday.
The discussion encompassed various areas of mutual interest and emphasised the significance of parliamentary exchanges in fostering effective diplomacy.
A press release issued by the Pakistan embassy in Moscow highlighted the consensus reached during the meeting. Both sides expressed their commitment to enhancing parliamentary interaction between the two nations. This step is expected to bolster bilateral ties and pave the way for increased cooperation in trade, investment, and energy sectors.
Chairman Sanjrani reiterated Pakistan’s dedication to strengthening relations with Russia across all domains of mutually beneficial cooperation. Trade, investment, and energy were particularly emphasised as key areas for future collaboration.
The significance of continued cooperation in international forums, such as the United Nations and the Shanghai Cooperation Organisation (SCO), was also acknowledged and agreed upon by both parties.
During the talks, Chairman Sanjrani extended an invitation from the Speaker of the National Assembly of Pakistan to Chairman Volodin, inviting him to visit Pakistan. In a positive response, Chairman Volodin accepted the invitation, reflecting the willingness of both countries to further solidify their ties.
The meeting between Chairman Senate Sanjrani and Chairman Volodin serves as a significant milestone in the diplomatic efforts between Pakistan and Russia. It highlights the mutual desire to strengthen bilateral relations and lays the groundwork for increased cooperation in various fields, including trade, investment, and energy.
The forthcoming visit of Chairman Volodin to Pakistan is expected to further enhance the ties between the two nations and open new avenues for collaboration.
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Spotify announces second round of layoffs, cutting 200 jobs in podcast unit amid restructuring efforts
On Monday, Spotify Technology announced its intention to implement a second wave of redundancies, resulting in the reduction of 200 positions within its podcast unit. This strategic restructuring follows a prolonged period of substantial investment, as the company seeks to adapt its business model accordingly.
This decision affects approximately 2 per cent of the music-streaming giant’s workforce, bringing Spotify in line with other prominent industry players such as Meta Platforms and Roku. These companies, facing an uncertain economic landscape, have also resorted to similar measures by implementing a second round of job cuts.
During early trading, the shares of this Sweden-based organisation exhibited a modest increase of approximately 0.5 per cent, outperforming the relatively subdued performance of the broader market.
In recent years, Spotify has actively pursued the expansion of its podcast business, anticipating that the format’s heightened engagement levels would attract a larger number of advertisers. However, this ambitious endeavour resulted in a surge of the company’s operating expenditure, growing at twice the rate of its revenue last year. Furthermore, rising interest rates and persistent inflation have prompted businesses to curtail their advertising expenditures.
Consequently, earlier in 2023, Spotify took the decision to reduce its workforce by 6 per cent, while also announcing the departure of Dawn Ostroff, a pivotal figure in shaping the podcast business. Ostroff adeptly navigated the company through contentious episodes, including the controversies surrounding Joe Rogan’s show and its alleged dissemination of misinformation concerning COVID-19.
In light of these circumstances, Sahar Elhabashi, the head of Spotify’s podcast business, conveyed on Monday that the company has reluctantly but necessarily opted for a strategic realignment. This course of action aims to address the prevailing challenges and align the organisation with its evolving objectives.
Additionally, Spotify unveiled its plan to consolidate the Parcast and Gimlet studios into a unified entity known as Spotify Studios. This amalgamation will oversee the production of Spotify originals. Elhabashi emphasised that the company intends to adopt a bespoke approach tailored to each individual show and creator, departing from the previously uniform approach.
By undertaking these measures, Spotify aims to optimise its operations, remain agile in a dynamic market, and position itself for sustained success in the podcast industry.
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MIT offers 2,000 free online courses, here are 7 of the best ones
The Massachusetts Institute of Technology (MIT) is one of the most prestigious universities in the world. The institute currently offers 2000 free online courses with different time durations. You can do them online, so all you need is good access to the internet.
In these online courses, MIT is offering courses that are the essential need of every learner and can be seen as life changers for those who take part in the courses. Entrepreneurship, art and craft, machine learning, coding, and programming are included in the modules.
MIT wants to spread knowledge and encourage new ideas, and these courses help them do that. They let people from all walks of life learn from top MIT professors and explore the latest research and subjects.
MIT’s free online courses are great for lifelong learning and personal growth. They give you the freedom to learn at your own pace and choose what you want to study. You can fit your learning around your schedule, whether you’re working, taking care of your family, or doing other things. The online format makes it easy for everyone to join in and learn, no matter where they are. MIT is using technology to make education accessible and exciting for everyone.
Here are the 7 Best of the 2000 courses offered my MIT
- MIT’s Introduction to Computer Science and programming using python
Time Duration: 9 weeks
If you want to learn about computer skills and programming and you have the nose to learn the skilled languages, this course is for you. This introductory course focuses on breadth rather than depth; you will learn about Python, simple algorithms, testing and debugging, and data structures. You’ll also get an informal introduction to algorithm complexity.
- Becoming an Entrepreneur
Time Duration: 6 weeks
Learn the business skills and startup mindset needed to embark on your entrepreneurial path from the premier program for aspiring entrepreneurs, MIT Launch.
- Design Thinking for Leading and Learning
Time Duration: 6 weeks (self-paced)
A hands-on course for education leaders to learn about design thinking and explore how it can transform classroom learning and school communities.
- Art, Craft, Science
Time Duration: NA
Also through MIT OpenCourseWare, students can examine crafts or, artworks that are created to be used as well as viewed through historical, theoretical, and anthropological lenses. Professor Heather Paxson examines the historical and contemporary creation, consumption, commodification, and value of crafts. Ultimately, students should be able to apply the same tools to form and articulate their own ideas about crafts.
- Supply Chain Analytics
Time Duration: 15 weeks
Master and apply the core methodologies used in supply chain analysis and modeling, including statistics, regression, optimization and probability – part of the MITx Supply Chain Management MicroMasters Credential.
- Block Chain and Money
Time Duration: NA
This course is for students wishing to explore blockchain technology’s potential use—by entrepreneurs and incumbents—to change the world of money and finance. The course begins with a review of Bitcoin and an understanding of the commercial, technical, and public policy fundamentals of blockchain technology, distributed ledgers, and smart contracts. The class then continues on to current and potential blockchain applications in the financial sector.
- Machine Learning with Python
Time Duration: 14 weeks
An in-depth introduction to the field of machine learning, from linear models to deep learning and reinforcement learning, through hands-on Python projects. — Part of the MITx MicroMasters program in Statistics and Data Science.
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PM Shehbaz urges Turkish business community to boost investments in Pakistan
Prime Minister (PM) Shehbaz Sharif, amid increasing debt burden and declining foreign exchange reserves, has invited Turkish investors and businessmen to expand their investments in different sectors of Pakistan. The premier is currently in Ankara on a two-day official visit to attend the inauguration ceremony of President Recep Tayyip Erdogan.
During a meeting with a delegation from the Anadolu Group, which included Coca Cola CCI CEO Karim Yahi, Chief Strategy Officer Atilla Yerlikaya, and Head of Public Policy Taylan Coban, the PM expressed his encouragement for the Anadolu Group to invest in Pakistan and provide job opportunities to the people.
Minister for Information and Broadcasting Marriyum Aurangzeb, Special Assistant to the Prime Minister Tariq Fatimi, and Pakistan’s Ambassador in Turkey Dr Yousuf Junaid were also present at the meeting.
Prime Minister Shehbaz Sharif’s visit to Turkey is a result of an invitation from Turkish President Erdogan, who emerged victorious in the second round of elections held on 28 May. Upon his arrival at Ankara airport last night, the Prime Minister was received by senior officers of the Turkish Foreign Ministry and Pakistan’s ambassador in Turkey, emphasising the significance of the visit.
Pakistan, facing economic challenges, is actively seeking foreign investments to alleviate its debt burden and stabilize its foreign exchange reserves. The Prime Minister’s appeal to Turkish investors and businessmen reflects the government’s commitment to attracting international investment and fostering economic partnerships.
By engaging with the Anadolu Group and inviting increased investment, Prime Minister Shehbaz Sharif aims to leverage Turkish expertise and capital to drive economic growth and create employment opportunities in Pakistan.
During the ongoing visit, it is anticipated that discussions between Pakistani and Turkish officials will focus on exploring potential areas of collaboration, identifying investment opportunities, and strengthening bilateral ties. The outcome of these engagements may play a pivotal role in shaping Pakistan’s economic trajectory, leading to increased foreign investment and a revitalized economy.
In a time of economic challenges, Prime Minister Shehbaz Sharif’s proactive approach and diplomatic outreach to Turkish investors send a clear message of Pakistan’s commitment to enhancing economic cooperation and attracting much-needed investment.
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Saudi prince aims to create over 1,000 jobs with $100 million tech house investment in Pakistan
A Saudi tech company owned by Prince Fahad bin Mansour Al-Saud has announced the launch of a Saudi-Pakistan Tech House in Islamabad on Monday.
The initiative was first announced by the prince in January at Pakistan’s largest tech event, Future Fest 2023, and aims to forge partnerships with information technology (IT) companies and enterprises in Pakistan to promote greater ease of doing business between the two countries.
Prince Fahad is the co-founder of ILSA Interactive, which was established in 2009 by Pakistani entrepreneur Salman Nasir with offices in Riyadh and Lahore, reflecting the determination of both Pakistani and Saudi leaders to deepen an existing strategic relationship in all fields.
The company plans to forge partnerships with IT companies, universities, and large enterprises in Pakistan. The launch ceremony took place on Monday, March 6, and Prince Fahad intends to create more than 1,000 jobs and undertake 300 projects valued at $100 million in Pakistan, Saudi Arabia, and other countries.
Future Fest 2023 saw leading entrepreneurs, startups, policymakers, and investors from around the world participate, and a delegation of Saudi business leaders attended the event, taking part in keynote addresses, roundtable conferences, and discussions on various topics related to the future of business and startups.