Gerry’s food security initiative

Gerry’s dnata, a leading global aviation services provider, has partnered with Rizq, a people-powered movement committed to enabling human life, under its dnata4good initiative, according to a press release. With the combined commitment of joining forces with Rizq, the dnata4good pledge will play a crucial role in amplifying the reach and impact of tackling food insecurity and build a sustainable future for the people of Pakistan.

“We believe in the power of collective action, which is why dnata4good, an employee-drive initiative, acknowledges the importance of being socially accountable and making an impact beyond our business goals. Through this partnership, we aim to leverage our expertise to make a lasting difference in the communities we work, live and thrive in,” said Ali Kamal, Vice President of Gerry’s dnata.

BoK and Fauree MoU

In a significant move towards promoting SME financing and economic development in Pakistan, the Bank of Khyber (BoK) has joined hands with Fauree Tech Pvt Ltd to establish a collaboration through a supply chain financing agreement, as per a press release.

Fauree, a renowned technology firm with a strong presence in the Middle East, Pakistan, and Africa, has been successfully providing cutting-edge solutions across various industries. With its extensive reach and expertise, Fauree is uniquely positioned to contribute to the growth and development of SMEs in Pakistan through this collaboration.

By empowering SMEs to flourish and drive overall economic development, the Bank of Khyber reaffirms its commitment to supporting entrepreneurship and cultivating a resilient and inclusive economy in Khyber Pakhtunkhwa and beyond.

New growth corridors

New research by Standard Chartered reveals trade corridors in Asia, Africa and the Middle East are set to outpace the global growth rate by close to four percentage points, driving export volumes in these regions from $9tr in 2021 to $14.4tr by 2030, according to a press release. Global trade over the same period is set to reach $32.6tr, from $21tr in 2021, according to the report titled Future of Trade 2030: New growth corridors.

Thirteen key markets are expected to account for 73pc of all exports and 69pc of all imports in Asia, Africa, and the Middle East by 2030, with a combined total trade value of $19.7tr, based on analysis of historical trade data and projections until 2030. Mainland China, India and South Korea top the list by volume.

International trade is projected to move away from the West, shifting southward and outward. South Asia will be the fastest-growing export region, driven by strong trade ties with neighbouring regions, including a recent free trade agreement between India and the UAE and Bangladesh’s plans to establish more than 100 special economic zones by 2030.

Bank Alfalah’s digital branch

At the launch ceremony of Bank Alfalah’s First Digital Lifestyle Branch, Governor State Bank of Pakistan Jameel Ahmad said that Pakistan’s banking industry is investing in technological upgrades to facilitate its customers and improve their overall banking experience. He was optimistic that such would unlock new opportunities, making banking easier to access and leading a more financially inclusive and digitally empowered nation.

While felicitating Bank Alfalah, Mr Ahmad observed that digitalisation has entailed a reduction in the brick-and-mortar footprint of the banking industry globally and Pakistan is no exception. The Governor was confident that the successful implementation of this model would show the way forward for the new entrants to the banking industry in Pakistan.

Habib University’s convocation

On May 27, 2023, Habib University, Pakistan’s first-ever Liberal Arts & Sciences institution, hosted its 6th Convocation Ceremony, a grand event that symbolised the achievements of the Class of 2023.

This momentous occasion not only marked the successful completion of their educational voyage but also represented their deep introspection, unbeatable perseverance, and steadfast dedication displayed throughout their time at the university.

In total, 203 students graduated this year with degrees awarded from the university’s two schools, namely the Dhanani School of Science and Engineering (DSSE) and the School of Arts, Humanities and Social Sciences (AHSS).

Published in Dawn, The Business and Finance Weekly, June 5th, 2023