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Ring in the New Year with Exciting Savings: Garmin’s New Year Sale Offers Up to 24% Off!
The countdown to a new year has begun, and what better way to kick off 2024 than with an adrenaline-fueled commitment to your fitness and outdoor goals? Garmin, the trailblazer in GPS technology and cutting-edge wearables, is set to make your New Year even more exciting with an exclusive sale offering up to 24% off on a range of their stellar products. Get ready to transform your adventures and push your boundaries with Garmin’s top-notch gear at unbeatable prices.
1. Fitness Smartwatches: Elevate Your Fitness Journey:
Whether you're a seasoned athlete or just starting your fitness journey, Garmin has the perfect companion for you. Take advantage of the New Year Sale to snag incredible deals on fitness trackers and fitness smartwatches that monitor your heart rate, track your steps, and provide insightful analytics to help you reach your health goals. Elevate your workouts and make every step count with Garmin's precision-engineered wearables.
2. Garmin Automotive: Navigate with Confidence:
Embark on your next outdoor adventure with confidence, knowing that Garmin's Automotive GPS technology has your back. From hiking trails to cycling routes, Garmin's navigation devices are designed to keep you on the right path. Explore the world around you with ease, and enjoy discounts on selected GPS devices during the New Year Sale.
3. Adventure-Ready Wearables:
Adventure knows no bounds with watches designed for the thrill-seekers. With features like GPS tracking, fitness monitoring, and rugged durability, these watches are essential companions for those who live life on the edge. Elevate your outdoor experiences with technology that matches your adventurous spirit.
4. Fashion Smartwatches: Stay Connected and Stylish:
Garmin Fashion smartwatches aren’t just about functionality; they’re also a style statement. Stay connected on the go while flaunting a sleek and sophisticated look. The New Year Sale is your chance to add a touch of elegance to your wrist while enjoying discounts on selected smartwatches.
Don't Miss Out – Gear Up for Success:
Make 2024 a year of triumph and achievement by seizing the incredible discounts offered during Garmin’s New Year Sale. Whether you’re aiming for new fitness milestones, planning exciting outdoor escapades, or simply upgrading your tech gear, Garmin has the tools to make it happen.
Samsung Galaxy S24 series is likely to offer satellite communication support, according to details reportedly shared by a company executive. According to a Sisa Journal-E report (translated from Korean), Samsung Electronics System LSI Business Head Yong-In Park stated during a recent presentation that the South Korean tech conglomerate was preparing to offer support for satellite communication on its smartphones next year. With the Samsung Galaxy S24 series of smartphones expected to debut in Q1 2024, these handsets are likely to be the first to support the feature.
According to the report, the Samsung executive said that the company has already made preparations to support smartphone communications using a satellite. Yong-In Park, who made the announcement at the 2023 Semiconductor Expo, did not specify a timeline for the functionality to be enabled, or reveal which phones would support the feature.
It is worth noting that Apple announced support for non-terrestrial networks (NTN) communication via its Emergency SOS satellite feature with the iPhone 14 series of smartphones in 2022, and the company's latest phones — including the iPhone 15 Pro Max — also support the feature. Earlier this year, Qualcomm announced Snapdragon Satellite support on the Snapdragon 8 Gen 2 chip, but the feature was not enabled on the Samsung Galaxy S23 series of smartphones.
On the other hand, Samsung's own Exynos 5300 modem that features on its Exynos 2400 mobile processor as well as Google's Tensor G2 (Pixel 7) and Tensor G3 (Pixel 8) chips, also supports NTN connectivity. Samsung is yet to reveal whether it will enable support for satellite communication on its Exynos 2400 chip — expected to power the Galaxy S24 and Galaxy S24+ — or the recently unveiled Snapdragon 8 Gen 3 chip that is tipped to power the top-of-the-line Galaxy S23 Ultra handset.
It's also unclear whether Samsung's Galaxy S23 series of smartphones — comprising the Galaxy S23, Galaxy S23+, and Galaxy S23 Ultra — as well as the Galaxy Z Flip 5 and Galaxy Z Fold 5 will offer support for emergency satellite connectivity. TM Roh, president and head of Samsung's mobile experience business division, previously stated that satellite functionality was still quite restricted on smartphones and that it was too soon to implement the feature on Samsung handsets.
Source Link : https://www.gadgets360.com/mobiles/news/samsung-s24-series-satellite-communication-support-with-exynos-2400-galaxy-4518172
Samsung Electronics America today announced the expansion of its OLED 4K TV line with two new series – the S95C and S90C – both featuring Neural Quantum processor that mesmerizes viewers with brighter, bolder visuals and infinite contrast so consumers can experience content in breathtaking detail.
The 2023 Samsung OLED 4K TV portfolio is more dynamic than ever with vibrant colors boosted the AI powered Neural Quantum processor.1 The lineup delivers content in dramatic detail with the deepest blacks, a billion shades of lifelike color – including vivid color palettes validated by Pantone, the industry-leading color experts – along with 8.3 million self-illuminating pixels that create a truly stunning picture.
With powerful processing and 4K upscaling, everything displayed on screen is instantly transformed to incredibly sharp 4K resolution to bring out incredible detail no matter what the original source resolution.2 Exceptional motion enhancements are included in both series to ensure high speed games and movies appear in consistently crisp 4K at blazing-fast speeds up to 120hz and Game Motion Plus goes up to 144hz with compatible PC-connected content. To further captivate viewers with the total sound, both the S95C and S90C have powerful Dolby Atmos® sound built in.
Bring the movie experience home: Samsung OLED 4K flagship S95C
The flagship S95C series is offered in 77”, 65” and 55” screen sizes with anti-reflective coating. This series offers Quantum HDR OLED+ that delivers bright whites and pure blacks thanks to the powerful processor that dynamically brings to life every scene for Hollywood content leaps off the screen. Viewers can feel like they’re part of the action with enhanced Dolby Atmos® built-in and Object Tracking Sound+ that uses AI to track the on-screen action and follows the movement with pinpoint accuracy.
Endless, easy entertainment
Users can personalize their viewing experience with easy access to the latest Smart TV apps and top streaming providers.3 The Tizen OS-powered entertainment hub delivers access to Samsung TV Plus, Samsung’s free ad-supported TV (FAST) and video-on-demand service which offers nearly 250 channels in the US and 1,900 channels globally, as well as thousands of shows and movies on-demand. With Samsung Gaming Hub, gamers can instantly play thousands of games from top streaming services like Xbox, NVIDIA GeForce NOW, Amazon Luna, Utomik and more coming soon with no console required.3
Better together with Samsung audio
For sound that is off the charts, Samsung TVs pair effortlessly with Samsung soundbars. With Q-Symphony, TV speakers paired with Q-Series and S-Series soundbar operate as one for optimized channels that deliver a masterfully orchestrated sound experience.
Source Link : 4 https://news.samsung.com/us/samsung-expands-2023-oled-4k-tv-lineup/
Bank Alfalah is heavily investing in digital transformation to bring innovation in Internet, mobile and branchless banking to provide unique, easy and fastest services to its customer.
Mehreen Ahmed, head of Retail Banking Group of Bank Alfalah, told Business Recorder on Wednesday that this is an innovative, multi-faceted flagship digital lifestyle branch and promises to stand apart in delivering a very unique customer experience.
The Digital Lifestyle Branch represents Bank Alfalah’s commitment to customer-centricity, financial inclusion, digital empowerment, innovation, and community engagement.
“We are not only bringing some of our tried, tested and successful digital offerings to this branch, but there has been a conscious effort to come up with some new digitally driven solutions along with some lifestyle benefits”.
She said that launching Pakistan’s first digital lifestyle branch is a cornerstone of redefining the banking landscape, which will serve as a catalyst for transformation for the industry to follow in Pakistan. The branch aims to complete re-imaging the customer journeys and is designed to fulfil people’s financial as well as lifestyle needs.
Mehreen said that with the support and regulatory approvals from the State Bank of Pakistan (SBP), the Bank Alfalah is formally launching the first-ever “Digital Lifestyle Branch” on June 1, 2023 to give a new banking experience to the banking customers. “People visiting the branch will experience an array of unprecedented services that have never been provided under one roof marking a new era of banking convenience”, she added.
The state-of-the-art digital lobby with a 24/7 self-service area in the Digital Lifestyle Branch is providing multiple banking services to the banking customers even if they don’t have bank accounts in the Bank Alfalah.
She informed that multiple banking services are being provided at this Digital Lifestyle Branch that comprising an impressive suite of self-service options that includes Cash Deposit Machines (CDMs), Cheque and Cash Deposit Machines (CCDMs) and Automatic Teller Machines (ATMs) are available at this branch.
These ATMs are enabled for withdrawal of Rs 1 million in a single day and up to Rs 200,000 in a single transaction. In addition, a Virtual Service Machine (VSM) for instant account opening, with a companion debit card issued instantly is also available at this digital branch. Secure digital lockers’ facility is being provided at this branch and customers can use it at any time of the day or night without any staff interaction, she added.
Further, a very simplified shopping experience for instant purchases from the online Buy Now Pay Later store on zero-percent mark-up on instalments, both Islamic and conventional options are available at this branch. In addition, a much faster facility of consumer loans is available through a dedicated Consumer Finance counter, while specialised staff providing customized consultative advisory.
The flagship branch will also serve as a hub for socializing with on-the-go and sit-in cafe options in collaboration with Xander’s a strong name in Karachi, which is introducing ‘Premo’, a new brand specially designed keeping the targeted audience in mind. Customers will also have the ease of booking co-working spaces for short-term and extended durations via Work Hall integration.
Mehreen said that the Digital Lifestyle Branch will also help to enhance financial inclusion in Pakistan as Bank Alfalah aim is to break down barriers to financial access and empower young individuals with the knowledge and resources necessary to participate fully in the formal financial system.
“We will provide specialized financial advisory to young people on savings and investments, which is fundamental to making this segment more financially responsible so they can contribute to the country’s economy”, she added. The Digital Lifestyle Branch represents Bank Alfalah’s commitment to customer-centricity, financial inclusion, digital empowerment, innovation, and community engagement, she said.
An enhanced customer experience leading to better utilization of our diversified product suite, increased transactions, executed smoothly and quickly and availability of 24/7 services, she said and added that the branch hopefully will help in cross-pollination within our branch network with more and more branches asking for advanced digital solutions for their customers.
Talking about the challenges for setting up this unique branch, Mehreen said that transitioning from traditional retail banking to a multi-faceted digital branch entails various challenges and major challenge was availability of skilled workforce.
“Some of the team members have been trained extensively, for months to build the required level of expertise and getting them out of a traditional banking mindset, putting them on something unprecedented requires a lot of passion, focus and receptiveness to unlearn and re-learn”, she mentioned.
Secondly, customer adoption is key, bank realized that different customers would be at different levels of digital awareness, therefore, specialized staff will not only help the customers to take them through various steps in a product purchase or a transaction, but they will be there for financial advisory for more complex solutions, she added.
Talking about the expansion of the digital branch network, Head of Retail Banking Bank Alfalah said that this first branch serves as a “concept” store, and demonstrates the bank’s passion to innovate and try out new ideas, of course on the back of customer insights and years of experience in building digital products and journeys.
“We will recognize the growing demand for digitally driven banking and the goal has to be to keep expanding our digital lifestyle branch footprint”, she added.
Bank Alfalah for the past many years is working on digital solutions and in 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app.
“Recent data reveals that an impressive 77 percent of New-to-Bank (NTB) account holders clearly prefer digital transactions, favouring digital channels over traditional methods. Rising penetration of digital banking and customers’ behaviour are the basic reason to start this new journey of opening digital branches”, she mentioned.
Mehreen informed that in 2022, the bank was awarded the best ‘Digital Bank’ and ‘Housing Finance’ across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers. The branch is designed specifically to cater to the needs of the people on the go who lead fast-paced lives with speed, accessibility, and convenience as their top priorities, she explained.
Source Link : https://www.brecorder.com/news/40245323
Rado is synonymous with trendy design-led watch designs and its pioneering use of high-tech ceramics. The True Square, Rado’s square watch with an injection-moulded monobloc high-tech ceramic case, is a signature product of the brand. Taking the openworked spirit of the True Square Open Heart in a different direction, the latest True Square models in sleek black, plasma and white high-tech ceramic cases feature a split-level dial and a cut-away top plate to reveal the skeletonised R808 automatic movement.
Although there had been square precursors in Rado’s portfolio since the mid-1970s, the Ceramica of 1990 marked a milestone as the brand’s first square watch with bracelet, crown and case made of high-tech ceramic. Its sleek geometry and minimalism established the aesthetic we have come to associate with Rado’s ceramic watches. As a sibling of the Ceramica, the True Square attenuates the rigid geometry of its square case with gently rounded corners for a softer, smoother and almost liquid look and feel. Used as a canvas for famous designers in 2021, including the radically modern Formafantasma, the True Square stripped down and revealed its mechanics with its Open Heart series.
The monobloc case measures a compact 38mm in width with a slim height of 9.7mm, making it a versatile candidate for both sexes. As Robin explains in his in-depth article on Rado’s mastery of high-tech ceramics, producing ceramic watch components “is far more complex than conventional materials”, including titanium. The benefits of such a time-consuming process are a product that is lighter but harder than steel and virtually scratchproof. Another advantage is that high-tech ceramic can be mirror polished, a finishing that has been applied to the cases and bracelets of these new models.
Although the True Square was stripped down in its Open Heart model, the skeletonisation of the True Square Skeleton is quite different. Two parallel bridges traverse the dial horizontally, dividing it into three areas. Not only do the bridges emphasise the geometry of the square case, but they are also an elegant, unobtrusive solution to exposing the mechanics. The bridges are, in fact, attached to the thin peripheral chapter ring with applied and luminous hour markers and minute track. To stand out, the hand and indices are coated in a rose gold colour on the black model, silver on the plasma and yellow gold on the white. There is also Rado’s hallmark moving anchor symbol attached to the lower bridge.
First seen on the skeletonised version of the Captain Cook, the newly designed central train bridge eliminates the need for a dial. The black and plasma versions feature an anthracite-coated wheel bridge and mainplate, matching the nickel colour of the bottom plate and its horizontal Côtes de Genève decoration; the white ceramic model has a contrasting gold-coloured centre wheel bridge with a nickel bottom plate, also decorated with Geneva stripes.
Roughly divided into three sections, you can see the balance wheel with its Nivachron anti-magnetic hairspring at noon. In the wider middle section are parts of the wheel train and the keyless work of the crown, while the barrel and mainspring occupy the central and lower segments.
A round sapphire glass on the sandblasted titanium caseback reveals the large anchor-shaped rotor of calibre R808, also decorated with Côtes de Genève. Delivering a robust 80h power reserve, Rado’s new R808 automatic movement showcases Swatch Group’s technical expertise (in partnership with the Swiss Centre for Electronics and Microtechnology) and is fitted with a Nivachron hairspring that is unaffected by magnetic fields and temperature fluctuation.
Xiaomi has shared teaser images for the Mi Band 8, which will be introduced at an event on April 18th, giving us an early peek at the new device.
The Chinese tech company has maintained a strong presence in the wearable technology market with its budget-friendly and feature-filled fitness trackers. With the Xiaomi Band 7 and Xiaomi Band 7 Pro gaining popularity, people are eagerly looking towards the upcoming fitness tracker, the Xiaomi Band 8.
The wearable has recently received regulatory approval through a TDRA certificate. The South Korean NRRA also approved it. But now we have the first real-world confirmation the wearable will launch. And we know the exact date.
As part of the earlier paperwork of the South Korean regulatory agency, there were a couple of images of Xiaomi Mi Band 8. This shows that the device will adopt the same capsule-like shape of its predecessor.
The dimensions of the wearable also appear to be unchanged. So they should come in around 46.5 x 20.7 x 12.25mm. It would have been pointless to increase the size any further. The wearable is quite large for a fitness band, as it is.
One notable change is that Xiaomi Mi Band 8 will have a two-piece detachable band. This is the type of strap found on the majority of fitness trackers and smartwatches and it features a pin mechanism for swapping bands. It is a slight improvement over the previous generation of Xiaomi fitness trackers, which had a single piece strap that allowed you to pop the main unit out of the band.
The Xiaomi Band 8’s model number is M2239B1. The listing also reveals Bluetooth 5.1 connectivity, which will increase the range and stability of the connection. And that’s pretty much it for this latest regulatory filing’s information. Which means the Xiaomi Band 8’s remaining details remain a mystery.
This latest images that has been released by Xiaomi itself give us the first real-world view of the upcoming device. They also show some nifty strap combinations that have been allowed by the change in the buckle mechanism. You will even be able to wear the band as a necklace, or strapped to your shoe!
There's a new generation of outdoor adventurers out there who need the best possible smartwatch to get them through their adventures. Enter the COROS VERTIX 2 – the hardcore adventure smartwatch. This watch has been designed to withstand even the toughest activities and conditions, and to provide you with the best possible performance.
The COROS VERTIX 2 is built with a rugged, lightweight titanium alloy case and a scratch-resistant sapphire crystal. It also features an ultra-durable polyamide watch band that is designed to stay secure on your wrist. The watch has a 1.2” AMOLED display with a 390 x 390 resolution and a 1.39” AMOLED display with a 454 x 454 resolution. It also has an IP68 waterproof rating, so you don’t have to worry about taking it with you on your water adventures.
The COROS VERTIX 2 has an impressive array of features to make your outdoor adventures more enjoyable. It has an integrated GPS and GLONASS navigation system that is accurate up to 1 meter and can track your location in real-time. It has a built-in altimeter, barometer, and thermometer that will help you stay aware of the current conditions. It also has an accelerometer, gyroscope, and compass to help you stay oriented even in the most remote locations.
The COROS VERTIX 2 also has a variety of different sports modes to help you get the most out of your workouts. It has a heart rate monitor to track your heart rate during exercise and a VO2 max calculator to measure the intensity of your workouts. It also has an oxygen saturation meter to help you monitor your performance during high intensity activities.
The COROS VERTIX 2 is the perfect companion for any outdoor enthusiast who needs a watch that can keep up with their active lifestyle. It’s built to last and designed to perform no matter what type of adventure you embark on. So if you’re looking for a rugged, reliable smartwatch to get you through your next outdoor adventure, the COROS VERTIX 2 is the perfect choice.
Source: https://www.mobilesmspk.net/mobile-video/coros-vertix-2-the-hardcore-adventure-smartwatch
When an unmanned boat nearly collided with Andrew and Jack Sherman roughly 40 miles off the coast, the pair sprang into action.
Andrew Sherman and his son Jack were drift-bottom fishing 37 miles off the coast of North Carolina when Andrew looked up to see a boat 200 yards out heading straight toward their own 21’ Sea Hunt — and its course wasn’t changing.
At first the reaction was annoyance. “I was kinda like, ‘I can’t even believe this yahoo,’” Andrew said. “We get enough instances where people go by us at 25 to 50 yards, and you’re always like, ‘Why does this guy have to fish this close to us? We have a giant ocean.’”
As the boat continued its approach, annoyance graduated to legitimate concern. Jack scrambled to move their own boat in time to avoid the impending collision.
“There was this moment where I prayed the engine would start, because that’s how dead on he was,” Andrew said. Jack was able to start the engine and power forward, avoiding the newcomer by about 10’ to 15’. The father and son stood on the deck of their own boat yelling to whoever was driving the other one. But as it passed, they saw no one — not on deck, not in the cabin, and not checking any of the lines that were out. As it passed them by, doing about 8-10 knots, they realized that no one seemed to be driving at all. Nearly 40 miles off the coast, with no human in sight, it appeared to be a ghost boat.
It’s worth noting here that Andrew and Jack Sherman are no novices when it comes to boating. Andrew grew up in Miami, where he spent his summers helping his grandfather, a 500-ton master captain, and dedicated a considerable amount of time to helping out on charter boats and commercial boats. He’s since led many Boy Scouts on backpacking trips in the mountains of Virginia. Jack is currently enrolled in the Naval Academy. If a boat happens to be running rampant out in the middle of the ocean, the Sherman family is perhaps a fortuitous one to come across.
Realizing that their near collision was not, in fact, the result of some hapless mariner not understanding common courtesy but rather something more sinister, Andrew and Jack sprang into action. Jack took the wheel and pursued the driverless boat, while Andrew hit it with some blasts on the airhorn in case that prompted some sort of response from anyone — no luck.
“Then we went through this process where we talked about how we were going to do this, because I’d never brought my boat alongside another boat going that fast,” Andrew said. “We had a little argument about who was going to jump on board, and [Jack] told me I was an old man. So I said alright, three points of contact — do not let me see you do anything rash, young man. And then we just did it, and he was on board like that. It was like nothing.”
Once on board the other boat, Jack killed the engine and did a quick scan.
I was expecting to see somebody who was probably dead or passed out in the cuddy cabin,” he said. “But there was nobody. And I was like, ‘Oh, somebody fell overboard.’ We were thinking somebody died.”
He was able to find a wallet with an ID in the cabin and take down all the person’s information, and they called the Coast Guard and relayed the events of the day. It was at this point that the Coast Guard suggested looking on the mystery boat’s GPS to see if any information could be gleaned that way. The boat had a Garmin GPS marine system, and while Andrew said he hadn’t been familiar with Garmin units prior to that, it was easy to use, allowing him to figure it out quickly.
“I figured out that you could do all this touchscreen stuff, and he’d started a track when he left Wilmington Beach. I had a track all the way out. So, for the next 20 to 25 minutes, I literally went through point, point, point on this whole track all the way back to where there was a spot about a mile from us or so where he had laid down a point.”
Andrew relayed all the latitude and longitude points to the Coast Guard all the way back to the most recent waypoint, reasoning that the driver must’ve still been on that boat at that time. It had been following a straight line until then, when Andrew could see that it had gone rogue, hooking a hard left, making a full loop, coming back through its own line, and then wrapping out and turning again to encounter the Shermans as they were fishing.
“We got done and they were like, ‘OK, roger that, Captain,’ and I was waiting for them to say to go find them, but of course they can’t tell you to do that, so we were just like, ‘OK. We’ll go find him.’” The pair decided that Jack would stay on their own boat while Andrew took the stranger’s. Starting at the last known waypoint, Jack drove in ever-enlarging circles scanning the water, while Andrew went back to where the boat had looped off course into their original location and began to zigzag the area.
During this process, Jack found a pair of boots in the water.
“I thought we were looking for a body the whole time,” Andrew said. “And then this thing clicked in my mind: If I was treading water, I’d kick my boots off. Then I just thought to myself, if I fell off, I probably fell off on the straight line [in line with the waypoints and prior to where the boat had veered off course]. So I went back to the straight line, and I was going back to Jack, but then I figured the boat was drifting south, so that was where he would be drifting, too. So I went a little north, and a little south, and then 300-400 yards in the distance, I saw this big splash. I sped up, and then I saw his arm come up out of the water.”
Andrew pulled the man — Sascha Scheller— out of the water and onto the boat. They gave him some Gatorade and headed back to shore in both boats, making sure he was OK while learning what had happened at the same time.
The story was simple, really, and one that could happen to almost any boater on any given day. Sascha had gone to the side to relieve himself and simply fell overboard. He’d reached for the railing to grab it on the way down, but he missed. And that was it — his boat sped away without him, nearly 40 miles away from shore. At one point, he said, he’d seen another boat, but they’d missed him. He’d been in the water for two-and-a-half hours.
Had his boat not gone rogue, somehow completing its pattern of hard turns and loops with no one at the helm — had it not headed straight for the Shermans, or had the Shermans not been the skilled mariners that they are — had Sascha not tracked his waypoints on his Garmin marine GPS, or had the Garmin technology been less intuitive for an unfamiliar boater in a stressful situation — this story could’ve ended so much differently.
“To me, that’s divine intervention,” Andrew said. The three men have discussed theories again and again. Sascha says he’d been trolling five rods, while Andrew and Jack only found and reeled in four. Could the fifth, whose rigger was always a little loose, have caught a pile of weed or a fish that pulled out all the line, gave just enough tension to turn the boat around and then fallen off? But even so, what would have made the boat loop all the way around, loop back through its own path, head south and then turn west to end up nearly ramming into the Shermans? Jack, a math major at the Naval Academy, has run the numbers again and again, and it just doesn’t make sense.
“At some points I think we were within even half a mile of him,” Andrew said, “but it wasn’t until the end that we came onto him.”
The Coast Guard, which had deployed a ship from Wilmington, from Wrightsville beach, two helicopters from Elizabeth City and an entire cutter from Norfolkin the 35 minutes from when the Shermans contacted them to when they found Sascha, honored the father and son in a ceremony later on, presenting Jack with an award for a naval officer and Andrew with a civilian commendation.
“They took us into the battle room where they figured this out, and you could just see the Garmin track on the screen.”
Andrew Sherman has since upgraded his tech on his own boat.
“I bought a Garmin unit because I was so impressed with Sascha’s,” he said.
Silkbank Limited, a dominant player with a substantial market share in the credit card industry, announced the successful launch of its contactless Visa credit cards in December 2020.
Contactless technology enables safer and faster transactions that do not require you to swipe or dvedo your card at Point of Sale (POS) terminals, making the purchase experience more convenient.
While commenting on the launch, Business Head – Credit Cards Naveed Mushtaq mentioned that with the introduction of contactless (tap to pay) credit cards, Silkbank has taken a giant leap towards enabling its credit cardholders to access growing global trends and offering better customer experience to attain top-of-wallet status.
As per data from Visa, contactless transactions share has increased from 35 percent in January 2020 to 47pc in August 2020 globally, therefore, it had become all the more important to timely adopt this technology.
Silk bank has launched contactless cards with new designs speaking of greater freedom and global access and has also added a new variant to its existing menu, Visa classic cards, targeted at lower-income groups.
The bank has many other strategic initiatives in the pipeline for its credit cards business, which will further cement the bank’s market leadership position in the cards industry.
Source:
https://profit.pakistantoday.com.pk/2020/12/31/silkbank-launches-visa-contactless-credit-cards/
Faysal Bank has completed its transition to a complete Islamic bank after the State Bank of Pakistan (SBP) issued FBL an Islamic Banking License. In one fell swoop, the license has made Faysal the second-largest full-fledged Islamic Bank in Pakistan.
FBL, named after Mohammaed bin Faisal Al Saud, a Saudi Prince and businessman, started its operations in Pakistan back in 1987. Incorporated in 1994 as a public limited company, the bank continued to expand its footprint in Pakistan as a commercial bank.
In 2015 FBL announced its decision to convert itself into a full-fledged Islamic bank. At the time it already had the second largest Islamic banking window in the country with 53 standalone branches. Faysal Bank currently has 639 branches that have all been converted to Islamic branches.
“Conversion of Faysal Bank is first of its kind in the banking history of Pakistan. This is a groundbreaking accomplishment, not only for the bank, but also for Pakistan’s Islamic banking industry,” said Governor SBP Jameel Ahmed.
Why is this conversion significant for other banks?
On April 28, the Shariat Court announced a verdict in a long pending, declaring the prevailing interest-based banking system as against the Shariah and directing the government to facilitate all loans under an interest-free system. The court had instructed the government to make laws within five years with regard to the implementation of Islamic banking within the country.
The court had ruled that the federal government and provincial governments must amend relevant laws and issued directives that the country’s banking system should be free of interest by December 2027. Faysal Bank’s conversion from a conventional bank to a full-fledged Islamic bank adds pressure on other conventional banks in the country that have appealed the court’s decision.
A shift in banking
Even before the Shariat Court verdict, a sizable shift had been observed toward Islamic Banking in Pakistan. According to data from the State Bank of Pakistan and Profit’s analysis of the financial statements of every single bank in the country, it accounts for about 20% of net new deposits between 2002 and 2019. Crucially for the industry, net new Islamic banking deposits hit approximately 30-35% of total industry net new deposits.
And the rise has only grown since then. Islamic banking assets reached around 19.5% of total assets as of end June 2022, while share of deposits reached 20.5%. On a year on year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by end June, 2022. The country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah-compliant banking services. IBIs include 5 full-fledged Islamic banking and 17 Islamic banking windows of conventional banks.
In the inaugural SBP Governor’s report released this year, Governor Jameel Ahmed noted the growth of the Islamic Banking industry in Pakistan. “The Islamic banking industry has made significant contributions to the overall growth of the banking sector during the review period. Islamic Banking Institutions (IBIs) have shown more accelerated growth and better performance in recent years as compared to conventional banking segment, which reflects the acceptability of Islamic banking and its potential to promote financial inclusion”, reads the report.
How has the Islamic Banking Industry been growing?
Following a change in Faysal Bank’s status, the country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah-compliant banking services. IBIs include 6 full-fledged Islamic banking and 16 Islamic banking windows of conventional banks.
Islamic banking assets reached around 19.5% of total assets as of the end of June 2022, while shares of deposits reached 20.5%. On a year-on-year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by the end of June 2022.
JS Bank, a subsidiary of Jahangir Siddiqui & Co Limited has submitted a Public Announcement of Intention to acquire more than 51% of shares and control of BankIslami Pakistan Limited.
The manager of the offer is Next Capital. The parties are yet to determine and agree upon the price of the majority share acquisition.
Earlier, on November 11, JS Bank had acquired 86,316,954 ordinary shares making up 7.79% of paid-up capital from Emirates NBD Bank PJSC. This was following the approval of the State Bank of Pakistan (SBP).
JS Bank and Jahangir Siddiqui & Co both own 21.26% or 235.68 million ordinary shares of BankIslami combined.
While previously, JS Bank bought shares from Emirates NBD Bank PJSC, this time it will have to increase its shareholding to the intended level by purchasing shares from the general public, in addition to the current owners. There has been no word so far on the split between the two. This transaction is also subject to approval by the SBP.
The public announcement of intention may be withdrawn if the requisite approvals are not granted by the concerned regulatory authorities,” said Next Capital in its letter to the PSX
BankIslami has reported a net profit of Rs 2.85 billion during the first three quarters of the calendar year; while the earnings per share have increased from Rs 1.92 last year, to Rs 2.57 per share for this year.
Push for Islamic Banking
Interestingly, Pakistan has the second-highest Muslim population in the world. However, the country also has low banking penetration. Around 6 percent of the world’s unbanked population can be attributed to Pakistan. In a World Bank study in 2017, only 21% of the adult population has a bank account. 13% of the unbanked respondents cited religious reasons for not having an account.
As a result, the government is hoping to promote Islamic finance as part of the National Financial Inclusion Strategy.
Moreover, the government’s recent push for Islamic banking may be a reason JS is pushing the pedals on the acquisition of BankIslami.
On November 10, Federal Finance minister Ishaq Dar announced the withdrawal of two review petitions filed by the SBP and National Bank of Pakistan (NBP) against the judgment of the Federal Shariat Court to transform Pakistan’s economic and financial system as interest-free in five years.
At the end of 2021, Islamic banking made 18.6% of banking sector assets, and 19.4% of deposits. The SBP, however, targets the Islamic banking sector to contribute 30% of the banking sector by 2025. Similarly, Islamic branches of conventional banks made up 45.7% of the overall Islamic banking assets by the end of 2021.
Fitch Ratings states that the size of the Pakistani Islamic finance industry is estimated to have crossed $42 billion at the end of the first quarter of 2022 – with Islamic banks being the largest contributor to the Islamic finance industry making up 67% in terms of total assets, followed by sukuks through their outstanding amounts making 26%, Islamic funds at 6%, and takaful at 1%
Mobile phone giant Samsung has started production in Pakistan, giving hope to both the authorities and the industry that the move would scale down Pakistan’s import bill in the near future.
According to a report by Dawn, the development came to light on Tuesday at a meeting of the company’s top managers with senators who visited the production site in line with the plan to receive a briefing on the growing new sector and challenges ahead for the cellphones manufacturing industry in Pakistan.
As per Pakistan Telecommunication Authority (PTA) data, production of mobile phones by local manufacturing plants has almost doubled to 18.87 million against the import of mobile phones which stood at 45 million during the first 10 months of the current year.
However, despite the increase in local production of mobile phones, the import remained on a higher side. The PTA data says that mobile phones worth $644.673m were imported during the first four months (July-October) of 2021 compared to $557.961m during the same period of last year, registering a growth of 15.54 percent.
Quoting an official from Samsung’s partner company Lucky Group in Pakistan, the report states that with production of around 250,000 to 300,000, the aim is to produce around 3 million cellphones every year.
Moreover, the official also hailed the massive opportunities the development brings in the form of employment, investment, export opportunities and local capacity building.
Source:https://profit.pakistantoday.com.pk/2021/12/01/samsung-starts-mobile-phone-production-in-pakistan/
Dawlance – A name which is known for its reliability across Pakistan, was established in 1980 with the vision to create a technology-leading brand that promises; enhanced living standard, convenience, reliability, and energy conservation. Over the past 4 decades, it has grown consistently from being a brand limited to refrigerators and now comprising of freezers, microwave ovens, water dispensers, small kitchen appliances, hoods & hobs, washing machines, dishwashers, and air conditioners. It has become a resourceful and sustainable brand that focuses on creating a beautiful balance between nature and technology for all consumers.
As Dawlance is celebrating its 40 years of reliability, it boasts being the only technology brand from Pakistan, which is gaining popularity in Europe and other parts of the world. It has established 3 large-scale factories in Pakistan, along with its network of 1800+ dealers all over the country, for easier availability of products and prompt after-sales service. Having 4 decades of experience, Dawlance keeps itself close to its customers, to gain insights about their evolving needs and offer innovative products for every segment of consumers. That is why Dawlance introduced the latest dishwashers, which are perfect for Pakistani dishes and other customized products and technologies like ‘Vitamin-Fresh’ and ‘Nature-Lock’ in their latest series of refrigerators, to reduce food-wastage and enhance nutritional value for consumers.
Dawlance, being the wholly-owned subsidiary of Arçelik – the 2nd largest manufacturer of appliances in Europe, gets an edge in the Pakistani market for having good R&D, global experience in product-development, excellence in services, while it remains focused on being a responsible brand. Being a global enterprise, based in Turkey – Arcelik has always maintained the highest standards of innovation, quality, safety, and customer care, to gain a more competitive advantage in every region.
It is owned by Koç Holding’ – the largest (Fortune-500) holding company in Turkey, with a progressive history of over 60 years and 92,500 employees. Since Pakistan and Turkey are fostering deeper socio-economic ties as brotherly Islamic nations, Koç Holding is also committed to expanding its investments in Pakistan, already worth well over 35 billion dollars. Arcelik too, has the biggest Research & Development network with 20 R&D and design centres, to enrich its operations in 23 manufacturing facilities, established in 9 countries, including Pakistan, while its products are sold in over 150 countries.
Environmental sustainability and employees’ well-being are the primary focus of this corporate group. Being a socially responsible company – Dawlance has also launched its broad-based initiative of “Dawlance for Humanity”, which supports many hospitals and institutes, by donating; ventilators, appliances, self-incubation chambers and face-shields to support and protect the front-line paramedics, especially during the Covid-19 pandemic.
Apart from donating to renowned hospitals, Dawlance also supports prestigious educational institutes like; Habib University and social-empowerment institutions like Darul Sakun, by providing grants and conducting training sessions to add value. The brand has pledged to continue supporting such credible social interventions, while also playing a positive role in protecting the environment for a healthier, brighter future.
As the brand is celebrating its 40 years of reliability this year, there will be much more exciting news, coming from Dawlance, as it strives to ensure the wellbeing of its consumers. Keep watching the window as 2021 has just started and this resourceful enterprise is already tapping multiple opportunities to share its success with the nation it has served so sincerely. Source:https://profit.pakistantoday.com.pk/2021/02/25/40-years-of-dawlance-a-beautiful-balance-between-nature-and-technology/
Orient’s “Music” series starts at Rs. 26,999 and there are eight models to choose from. The new series is now live at Orient’s official website and customers will be able to select their favorite variant from 32 inches all the way up to 75 inches.What’s unique about the new TV series is that they are equipped with built-in Dolby technology based sound bars to deliver more depth, clarity and power to your movies, TV shows, sports and games. Orient’s new sound bar technology is a simple, space-saving solution that gives you all the Dolby perks without any additional hardware attachments.The Music LED TV series incorporates high-quality panels to deliver brighter, more vibrant pictures with richer colors, deeper black levels and higher contrasts. Also, they offer 6 different viewing modes that optimize picture quality as per the type of content being played on them.
The smartphone segment in Pakistan is abuzz with activity, witnessing frequent launches by manufacturers, and conversations about their associated features.While this is routine, every once in a while, the sector sees a product that cuts through the clutter and surpasses consumer expectations. That is exactly what vivo has achieved this time, with its freshly launched vivo V25e — the latest entrant in the premium smartphones segment.It functions by gradually transforming the color of the rear panel when exposed to sunlight; the color reverts to its original shade once out of sun exposure.The smartphone also packs the Bokeh Flare Portrait feature, which enhances the night photography experience by making use of the dual camera system and AI to process the point light sources in the background. In our experience, this is a terrific feature that makes for some pretty enchanting snaps at night.
U Microfinance Bank joins hands with Shahid Afridi Foundation (SAF) for the SAF Education initiative, under which U Bank will support the establishment of an IT Lab at SAF School, Malikpur Campus, Lahore. This collaboration will enable 430 students, currently enrolled at the campus, to learn computer usage, coding, and programming skills. Additionally, it will open doors for the provision of financial services to SAF across a broad spectrum of banking solutions.
The MoU was signed by Mr. Kabeer Naqvi, President & CEO – of U Microfinance Bank, and Mr. Shahid Afridi – Chairman SAF, at U Bank's Head Office, in the presence of the senior management of both the collaborating organizations.
Ring in the New Year with Exciting Savings: Garmin’s New Year Sale Offers Up to 24% Off!
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Bank Alfalah is heavily investing in digital transformation to bring innovation in Internet, mobile and branchless banking to provide unique, easy and fastest services to its customer.
Mehreen Ahmed, head of Retail Banking Group of Bank Alfalah, told Business Recorder on Wednesday that this is an innovative, multi-faceted flagship digital lifestyle branch and promises to stand apart in delivering a very unique customer experience.
The Digital Lifestyle Branch represents Bank Alfalah’s commitment to customer-centricity, financial inclusion, digital empowerment, innovation, and community engagement.
“We are not only bringing some of our tried, tested and successful digital offerings to this branch, but there has been a conscious effort to come up with some new digitally driven solutions along with some lifestyle benefits”.
She said that launching Pakistan’s first digital lifestyle branch is a cornerstone of redefining the banking landscape, which will serve as a catalyst for transformation for the industry to follow in Pakistan. The branch aims to complete re-imaging the customer journeys and is designed to fulfil people’s financial as well as lifestyle needs.
Mehreen said that with the support and regulatory approvals from the State Bank of Pakistan (SBP), the Bank Alfalah is formally launching the first-ever “Digital Lifestyle Branch” on June 1, 2023 to give a new banking experience to the banking customers. “People visiting the branch will experience an array of unprecedented services that have never been provided under one roof marking a new era of banking convenience”, she added.
The state-of-the-art digital lobby with a 24/7 self-service area in the Digital Lifestyle Branch is providing multiple banking services to the banking customers even if they don’t have bank accounts in the Bank Alfalah.
She informed that multiple banking services are being provided at this Digital Lifestyle Branch that comprising an impressive suite of self-service options that includes Cash Deposit Machines (CDMs), Cheque and Cash Deposit Machines (CCDMs) and Automatic Teller Machines (ATMs) are available at this branch.
These ATMs are enabled for withdrawal of Rs 1 million in a single day and up to Rs 200,000 in a single transaction. In addition, a Virtual Service Machine (VSM) for instant account opening, with a companion debit card issued instantly is also available at this digital branch. Secure digital lockers’ facility is being provided at this branch and customers can use it at any time of the day or night without any staff interaction, she added.
Further, a very simplified shopping experience for instant purchases from the online Buy Now Pay Later store on zero-percent mark-up on instalments, both Islamic and conventional options are available at this branch. In addition, a much faster facility of consumer loans is available through a dedicated Consumer Finance counter, while specialised staff providing customized consultative advisory.
The flagship branch will also serve as a hub for socializing with on-the-go and sit-in cafe options in collaboration with Xander’s a strong name in Karachi, which is introducing ‘Premo’, a new brand specially designed keeping the targeted audience in mind. Customers will also have the ease of booking co-working spaces for short-term and extended durations via Work Hall integration.
Mehreen said that the Digital Lifestyle Branch will also help to enhance financial inclusion in Pakistan as Bank Alfalah aim is to break down barriers to financial access and empower young individuals with the knowledge and resources necessary to participate fully in the formal financial system.
“We will provide specialized financial advisory to young people on savings and investments, which is fundamental to making this segment more financially responsible so they can contribute to the country’s economy”, she added. The Digital Lifestyle Branch represents Bank Alfalah’s commitment to customer-centricity, financial inclusion, digital empowerment, innovation, and community engagement, she said.
An enhanced customer experience leading to better utilization of our diversified product suite, increased transactions, executed smoothly and quickly and availability of 24/7 services, she said and added that the branch hopefully will help in cross-pollination within our branch network with more and more branches asking for advanced digital solutions for their customers.
Talking about the challenges for setting up this unique branch, Mehreen said that transitioning from traditional retail banking to a multi-faceted digital branch entails various challenges and major challenge was availability of skilled workforce.
“Some of the team members have been trained extensively, for months to build the required level of expertise and getting them out of a traditional banking mindset, putting them on something unprecedented requires a lot of passion, focus and receptiveness to unlearn and re-learn”, she mentioned.
Secondly, customer adoption is key, bank realized that different customers would be at different levels of digital awareness, therefore, specialized staff will not only help the customers to take them through various steps in a product purchase or a transaction, but they will be there for financial advisory for more complex solutions, she added.
Talking about the expansion of the digital branch network, Head of Retail Banking Bank Alfalah said that this first branch serves as a “concept” store, and demonstrates the bank’s passion to innovate and try out new ideas, of course on the back of customer insights and years of experience in building digital products and journeys.
“We will recognize the growing demand for digitally driven banking and the goal has to be to keep expanding our digital lifestyle branch footprint”, she added.
Bank Alfalah for the past many years is working on digital solutions and in 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app.
“Recent data reveals that an impressive 77 percent of New-to-Bank (NTB) account holders clearly prefer digital transactions, favouring digital channels over traditional methods. Rising penetration of digital banking and customers’ behaviour are the basic reason to start this new journey of opening digital branches”, she mentioned.
Mehreen informed that in 2022, the bank was awarded the best ‘Digital Bank’ and ‘Housing Finance’ across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers. The branch is designed specifically to cater to the needs of the people on the go who lead fast-paced lives with speed, accessibility, and convenience as their top priorities, she explained.
Source Link : https://www.brecorder.com/news/40245323
Silkbank Limited, a dominant player with a substantial market share in the credit card industry, announced the successful launch of its contactless Visa credit cards in December 2020.
Contactless technology enables safer and faster transactions that do not require you to swipe or dvedo your card at Point of Sale (POS) terminals, making the purchase experience more convenient.
While commenting on the launch, Business Head – Credit Cards Naveed Mushtaq mentioned that with the introduction of contactless (tap to pay) credit cards, Silkbank has taken a giant leap towards enabling its credit cardholders to access growing global trends and offering better customer experience to attain top-of-wallet status.
As per data from Visa, contactless transactions share has increased from 35 percent in January 2020 to 47pc in August 2020 globally, therefore, it had become all the more important to timely adopt this technology.
Silk bank has launched contactless cards with new designs speaking of greater freedom and global access and has also added a new variant to its existing menu, Visa classic cards, targeted at lower-income groups.
The bank has many other strategic initiatives in the pipeline for its credit cards business, which will further cement the bank’s market leadership position in the cards industry.
Source:
https://profit.pakistantoday.com.pk/2020/12/31/silkbank-launches-visa-contactless-credit-cards/
Faysal Bank has completed its transition to a complete Islamic bank after the State Bank of Pakistan (SBP) issued FBL an Islamic Banking License. In one fell swoop, the license has made Faysal the second-largest full-fledged Islamic Bank in Pakistan.
FBL, named after Mohammaed bin Faisal Al Saud, a Saudi Prince and businessman, started its operations in Pakistan back in 1987. Incorporated in 1994 as a public limited company, the bank continued to expand its footprint in Pakistan as a commercial bank.
In 2015 FBL announced its decision to convert itself into a full-fledged Islamic bank. At the time it already had the second largest Islamic banking window in the country with 53 standalone branches. Faysal Bank currently has 639 branches that have all been converted to Islamic branches.
“Conversion of Faysal Bank is first of its kind in the banking history of Pakistan. This is a groundbreaking accomplishment, not only for the bank, but also for Pakistan’s Islamic banking industry,” said Governor SBP Jameel Ahmed.
Why is this conversion significant for other banks?
On April 28, the Shariat Court announced a verdict in a long pending, declaring the prevailing interest-based banking system as against the Shariah and directing the government to facilitate all loans under an interest-free system. The court had instructed the government to make laws within five years with regard to the implementation of Islamic banking within the country.
The court had ruled that the federal government and provincial governments must amend relevant laws and issued directives that the country’s banking system should be free of interest by December 2027. Faysal Bank’s conversion from a conventional bank to a full-fledged Islamic bank adds pressure on other conventional banks in the country that have appealed the court’s decision.
A shift in banking
Even before the Shariat Court verdict, a sizable shift had been observed toward Islamic Banking in Pakistan. According to data from the State Bank of Pakistan and Profit’s analysis of the financial statements of every single bank in the country, it accounts for about 20% of net new deposits between 2002 and 2019. Crucially for the industry, net new Islamic banking deposits hit approximately 30-35% of total industry net new deposits.
And the rise has only grown since then. Islamic banking assets reached around 19.5% of total assets as of end June 2022, while share of deposits reached 20.5%. On a year on year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by end June, 2022. The country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah-compliant banking services. IBIs include 5 full-fledged Islamic banking and 17 Islamic banking windows of conventional banks.
In the inaugural SBP Governor’s report released this year, Governor Jameel Ahmed noted the growth of the Islamic Banking industry in Pakistan. “The Islamic banking industry has made significant contributions to the overall growth of the banking sector during the review period. Islamic Banking Institutions (IBIs) have shown more accelerated growth and better performance in recent years as compared to conventional banking segment, which reflects the acceptability of Islamic banking and its potential to promote financial inclusion”, reads the report.
How has the Islamic Banking Industry been growing?
Following a change in Faysal Bank’s status, the country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah-compliant banking services. IBIs include 6 full-fledged Islamic banking and 16 Islamic banking windows of conventional banks.
Islamic banking assets reached around 19.5% of total assets as of the end of June 2022, while shares of deposits reached 20.5%. On a year-on-year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by the end of June 2022.
JS Bank, a subsidiary of Jahangir Siddiqui & Co Limited has submitted a Public Announcement of Intention to acquire more than 51% of shares and control of BankIslami Pakistan Limited.
The manager of the offer is Next Capital. The parties are yet to determine and agree upon the price of the majority share acquisition.
Earlier, on November 11, JS Bank had acquired 86,316,954 ordinary shares making up 7.79% of paid-up capital from Emirates NBD Bank PJSC. This was following the approval of the State Bank of Pakistan (SBP).
JS Bank and Jahangir Siddiqui & Co both own 21.26% or 235.68 million ordinary shares of BankIslami combined.
While previously, JS Bank bought shares from Emirates NBD Bank PJSC, this time it will have to increase its shareholding to the intended level by purchasing shares from the general public, in addition to the current owners. There has been no word so far on the split between the two. This transaction is also subject to approval by the SBP.
The public announcement of intention may be withdrawn if the requisite approvals are not granted by the concerned regulatory authorities,” said Next Capital in its letter to the PSX
BankIslami has reported a net profit of Rs 2.85 billion during the first three quarters of the calendar year; while the earnings per share have increased from Rs 1.92 last year, to Rs 2.57 per share for this year.
Push for Islamic Banking
Interestingly, Pakistan has the second-highest Muslim population in the world. However, the country also has low banking penetration. Around 6 percent of the world’s unbanked population can be attributed to Pakistan. In a World Bank study in 2017, only 21% of the adult population has a bank account. 13% of the unbanked respondents cited religious reasons for not having an account.
As a result, the government is hoping to promote Islamic finance as part of the National Financial Inclusion Strategy.
Moreover, the government’s recent push for Islamic banking may be a reason JS is pushing the pedals on the acquisition of BankIslami.
On November 10, Federal Finance minister Ishaq Dar announced the withdrawal of two review petitions filed by the SBP and National Bank of Pakistan (NBP) against the judgment of the Federal Shariat Court to transform Pakistan’s economic and financial system as interest-free in five years.
At the end of 2021, Islamic banking made 18.6% of banking sector assets, and 19.4% of deposits. The SBP, however, targets the Islamic banking sector to contribute 30% of the banking sector by 2025. Similarly, Islamic branches of conventional banks made up 45.7% of the overall Islamic banking assets by the end of 2021.
Fitch Ratings states that the size of the Pakistani Islamic finance industry is estimated to have crossed $42 billion at the end of the first quarter of 2022 – with Islamic banks being the largest contributor to the Islamic finance industry making up 67% in terms of total assets, followed by sukuks through their outstanding amounts making 26%, Islamic funds at 6%, and takaful at 1%
U Microfinance Bank joins hands with Shahid Afridi Foundation (SAF) for the SAF Education initiative, under which U Bank will support the establishment of an IT Lab at SAF School, Malikpur Campus, Lahore. This collaboration will enable 430 students, currently enrolled at the campus, to learn computer usage, coding, and programming skills. Additionally, it will open doors for the provision of financial services to SAF across a broad spectrum of banking solutions.
The MoU was signed by Mr. Kabeer Naqvi, President & CEO – of U Microfinance Bank, and Mr. Shahid Afridi – Chairman SAF, at U Bank's Head Office, in the presence of the senior management of both the collaborating organizations.
Samsung Galaxy S24 series is likely to offer satellite communication support, according to details reportedly shared by a company executive. According to a Sisa Journal-E report (translated from Korean), Samsung Electronics System LSI Business Head Yong-In Park stated during a recent presentation that the South Korean tech conglomerate was preparing to offer support for satellite communication on its smartphones next year. With the Samsung Galaxy S24 series of smartphones expected to debut in Q1 2024, these handsets are likely to be the first to support the feature.
According to the report, the Samsung executive said that the company has already made preparations to support smartphone communications using a satellite. Yong-In Park, who made the announcement at the 2023 Semiconductor Expo, did not specify a timeline for the functionality to be enabled, or reveal which phones would support the feature.
It is worth noting that Apple announced support for non-terrestrial networks (NTN) communication via its Emergency SOS satellite feature with the iPhone 14 series of smartphones in 2022, and the company's latest phones — including the iPhone 15 Pro Max — also support the feature. Earlier this year, Qualcomm announced Snapdragon Satellite support on the Snapdragon 8 Gen 2 chip, but the feature was not enabled on the Samsung Galaxy S23 series of smartphones.
On the other hand, Samsung's own Exynos 5300 modem that features on its Exynos 2400 mobile processor as well as Google's Tensor G2 (Pixel 7) and Tensor G3 (Pixel 8) chips, also supports NTN connectivity. Samsung is yet to reveal whether it will enable support for satellite communication on its Exynos 2400 chip — expected to power the Galaxy S24 and Galaxy S24+ — or the recently unveiled Snapdragon 8 Gen 3 chip that is tipped to power the top-of-the-line Galaxy S23 Ultra handset.
It's also unclear whether Samsung's Galaxy S23 series of smartphones — comprising the Galaxy S23, Galaxy S23+, and Galaxy S23 Ultra — as well as the Galaxy Z Flip 5 and Galaxy Z Fold 5 will offer support for emergency satellite connectivity. TM Roh, president and head of Samsung's mobile experience business division, previously stated that satellite functionality was still quite restricted on smartphones and that it was too soon to implement the feature on Samsung handsets.
Source Link : https://www.gadgets360.com/mobiles/news/samsung-s24-series-satellite-communication-support-with-exynos-2400-galaxy-4518172
Samsung Electronics America today announced the expansion of its OLED 4K TV line with two new series – the S95C and S90C – both featuring Neural Quantum processor that mesmerizes viewers with brighter, bolder visuals and infinite contrast so consumers can experience content in breathtaking detail.
The 2023 Samsung OLED 4K TV portfolio is more dynamic than ever with vibrant colors boosted the AI powered Neural Quantum processor.1 The lineup delivers content in dramatic detail with the deepest blacks, a billion shades of lifelike color – including vivid color palettes validated by Pantone, the industry-leading color experts – along with 8.3 million self-illuminating pixels that create a truly stunning picture.
With powerful processing and 4K upscaling, everything displayed on screen is instantly transformed to incredibly sharp 4K resolution to bring out incredible detail no matter what the original source resolution.2 Exceptional motion enhancements are included in both series to ensure high speed games and movies appear in consistently crisp 4K at blazing-fast speeds up to 120hz and Game Motion Plus goes up to 144hz with compatible PC-connected content. To further captivate viewers with the total sound, both the S95C and S90C have powerful Dolby Atmos® sound built in.
Bring the movie experience home: Samsung OLED 4K flagship S95C
The flagship S95C series is offered in 77”, 65” and 55” screen sizes with anti-reflective coating. This series offers Quantum HDR OLED+ that delivers bright whites and pure blacks thanks to the powerful processor that dynamically brings to life every scene for Hollywood content leaps off the screen. Viewers can feel like they’re part of the action with enhanced Dolby Atmos® built-in and Object Tracking Sound+ that uses AI to track the on-screen action and follows the movement with pinpoint accuracy.
Endless, easy entertainment
Users can personalize their viewing experience with easy access to the latest Smart TV apps and top streaming providers.3 The Tizen OS-powered entertainment hub delivers access to Samsung TV Plus, Samsung’s free ad-supported TV (FAST) and video-on-demand service which offers nearly 250 channels in the US and 1,900 channels globally, as well as thousands of shows and movies on-demand. With Samsung Gaming Hub, gamers can instantly play thousands of games from top streaming services like Xbox, NVIDIA GeForce NOW, Amazon Luna, Utomik and more coming soon with no console required.3
Better together with Samsung audio
For sound that is off the charts, Samsung TVs pair effortlessly with Samsung soundbars. With Q-Symphony, TV speakers paired with Q-Series and S-Series soundbar operate as one for optimized channels that deliver a masterfully orchestrated sound experience.
Source Link : 4 https://news.samsung.com/us/samsung-expands-2023-oled-4k-tv-lineup/
Orient’s “Music” series starts at Rs. 26,999 and there are eight models to choose from. The new series is now live at Orient’s official website and customers will be able to select their favorite variant from 32 inches all the way up to 75 inches.What’s unique about the new TV series is that they are equipped with built-in Dolby technology based sound bars to deliver more depth, clarity and power to your movies, TV shows, sports and games. Orient’s new sound bar technology is a simple, space-saving solution that gives you all the Dolby perks without any additional hardware attachments.The Music LED TV series incorporates high-quality panels to deliver brighter, more vibrant pictures with richer colors, deeper black levels and higher contrasts. Also, they offer 6 different viewing modes that optimize picture quality as per the type of content being played on them.
Dawlance – A name which is known for its reliability across Pakistan, was established in 1980 with the vision to create a technology-leading brand that promises; enhanced living standard, convenience, reliability, and energy conservation. Over the past 4 decades, it has grown consistently from being a brand limited to refrigerators and now comprising of freezers, microwave ovens, water dispensers, small kitchen appliances, hoods & hobs, washing machines, dishwashers, and air conditioners. It has become a resourceful and sustainable brand that focuses on creating a beautiful balance between nature and technology for all consumers.
As Dawlance is celebrating its 40 years of reliability, it boasts being the only technology brand from Pakistan, which is gaining popularity in Europe and other parts of the world. It has established 3 large-scale factories in Pakistan, along with its network of 1800+ dealers all over the country, for easier availability of products and prompt after-sales service. Having 4 decades of experience, Dawlance keeps itself close to its customers, to gain insights about their evolving needs and offer innovative products for every segment of consumers. That is why Dawlance introduced the latest dishwashers, which are perfect for Pakistani dishes and other customized products and technologies like ‘Vitamin-Fresh’ and ‘Nature-Lock’ in their latest series of refrigerators, to reduce food-wastage and enhance nutritional value for consumers.
Dawlance, being the wholly-owned subsidiary of Arçelik – the 2nd largest manufacturer of appliances in Europe, gets an edge in the Pakistani market for having good R&D, global experience in product-development, excellence in services, while it remains focused on being a responsible brand. Being a global enterprise, based in Turkey – Arcelik has always maintained the highest standards of innovation, quality, safety, and customer care, to gain a more competitive advantage in every region.
It is owned by Koç Holding’ – the largest (Fortune-500) holding company in Turkey, with a progressive history of over 60 years and 92,500 employees. Since Pakistan and Turkey are fostering deeper socio-economic ties as brotherly Islamic nations, Koç Holding is also committed to expanding its investments in Pakistan, already worth well over 35 billion dollars. Arcelik too, has the biggest Research & Development network with 20 R&D and design centres, to enrich its operations in 23 manufacturing facilities, established in 9 countries, including Pakistan, while its products are sold in over 150 countries.
Environmental sustainability and employees’ well-being are the primary focus of this corporate group. Being a socially responsible company – Dawlance has also launched its broad-based initiative of “Dawlance for Humanity”, which supports many hospitals and institutes, by donating; ventilators, appliances, self-incubation chambers and face-shields to support and protect the front-line paramedics, especially during the Covid-19 pandemic.
Apart from donating to renowned hospitals, Dawlance also supports prestigious educational institutes like; Habib University and social-empowerment institutions like Darul Sakun, by providing grants and conducting training sessions to add value. The brand has pledged to continue supporting such credible social interventions, while also playing a positive role in protecting the environment for a healthier, brighter future.
As the brand is celebrating its 40 years of reliability this year, there will be much more exciting news, coming from Dawlance, as it strives to ensure the wellbeing of its consumers. Keep watching the window as 2021 has just started and this resourceful enterprise is already tapping multiple opportunities to share its success with the nation it has served so sincerely. Source:https://profit.pakistantoday.com.pk/2021/02/25/40-years-of-dawlance-a-beautiful-balance-between-nature-and-technology/
Rado is synonymous with trendy design-led watch designs and its pioneering use of high-tech ceramics. The True Square, Rado’s square watch with an injection-moulded monobloc high-tech ceramic case, is a signature product of the brand. Taking the openworked spirit of the True Square Open Heart in a different direction, the latest True Square models in sleek black, plasma and white high-tech ceramic cases feature a split-level dial and a cut-away top plate to reveal the skeletonised R808 automatic movement.
Although there had been square precursors in Rado’s portfolio since the mid-1970s, the Ceramica of 1990 marked a milestone as the brand’s first square watch with bracelet, crown and case made of high-tech ceramic. Its sleek geometry and minimalism established the aesthetic we have come to associate with Rado’s ceramic watches. As a sibling of the Ceramica, the True Square attenuates the rigid geometry of its square case with gently rounded corners for a softer, smoother and almost liquid look and feel. Used as a canvas for famous designers in 2021, including the radically modern Formafantasma, the True Square stripped down and revealed its mechanics with its Open Heart series.
The monobloc case measures a compact 38mm in width with a slim height of 9.7mm, making it a versatile candidate for both sexes. As Robin explains in his in-depth article on Rado’s mastery of high-tech ceramics, producing ceramic watch components “is far more complex than conventional materials”, including titanium. The benefits of such a time-consuming process are a product that is lighter but harder than steel and virtually scratchproof. Another advantage is that high-tech ceramic can be mirror polished, a finishing that has been applied to the cases and bracelets of these new models.
Although the True Square was stripped down in its Open Heart model, the skeletonisation of the True Square Skeleton is quite different. Two parallel bridges traverse the dial horizontally, dividing it into three areas. Not only do the bridges emphasise the geometry of the square case, but they are also an elegant, unobtrusive solution to exposing the mechanics. The bridges are, in fact, attached to the thin peripheral chapter ring with applied and luminous hour markers and minute track. To stand out, the hand and indices are coated in a rose gold colour on the black model, silver on the plasma and yellow gold on the white. There is also Rado’s hallmark moving anchor symbol attached to the lower bridge.
First seen on the skeletonised version of the Captain Cook, the newly designed central train bridge eliminates the need for a dial. The black and plasma versions feature an anthracite-coated wheel bridge and mainplate, matching the nickel colour of the bottom plate and its horizontal Côtes de Genève decoration; the white ceramic model has a contrasting gold-coloured centre wheel bridge with a nickel bottom plate, also decorated with Geneva stripes.
Roughly divided into three sections, you can see the balance wheel with its Nivachron anti-magnetic hairspring at noon. In the wider middle section are parts of the wheel train and the keyless work of the crown, while the barrel and mainspring occupy the central and lower segments.
A round sapphire glass on the sandblasted titanium caseback reveals the large anchor-shaped rotor of calibre R808, also decorated with Côtes de Genève. Delivering a robust 80h power reserve, Rado’s new R808 automatic movement showcases Swatch Group’s technical expertise (in partnership with the Swiss Centre for Electronics and Microtechnology) and is fitted with a Nivachron hairspring that is unaffected by magnetic fields and temperature fluctuation.
Xiaomi has shared teaser images for the Mi Band 8, which will be introduced at an event on April 18th, giving us an early peek at the new device.
The Chinese tech company has maintained a strong presence in the wearable technology market with its budget-friendly and feature-filled fitness trackers. With the Xiaomi Band 7 and Xiaomi Band 7 Pro gaining popularity, people are eagerly looking towards the upcoming fitness tracker, the Xiaomi Band 8.
The wearable has recently received regulatory approval through a TDRA certificate. The South Korean NRRA also approved it. But now we have the first real-world confirmation the wearable will launch. And we know the exact date.
As part of the earlier paperwork of the South Korean regulatory agency, there were a couple of images of Xiaomi Mi Band 8. This shows that the device will adopt the same capsule-like shape of its predecessor.
The dimensions of the wearable also appear to be unchanged. So they should come in around 46.5 x 20.7 x 12.25mm. It would have been pointless to increase the size any further. The wearable is quite large for a fitness band, as it is.
One notable change is that Xiaomi Mi Band 8 will have a two-piece detachable band. This is the type of strap found on the majority of fitness trackers and smartwatches and it features a pin mechanism for swapping bands. It is a slight improvement over the previous generation of Xiaomi fitness trackers, which had a single piece strap that allowed you to pop the main unit out of the band.
The Xiaomi Band 8’s model number is M2239B1. The listing also reveals Bluetooth 5.1 connectivity, which will increase the range and stability of the connection. And that’s pretty much it for this latest regulatory filing’s information. Which means the Xiaomi Band 8’s remaining details remain a mystery.
This latest images that has been released by Xiaomi itself give us the first real-world view of the upcoming device. They also show some nifty strap combinations that have been allowed by the change in the buckle mechanism. You will even be able to wear the band as a necklace, or strapped to your shoe!
There's a new generation of outdoor adventurers out there who need the best possible smartwatch to get them through their adventures. Enter the COROS VERTIX 2 – the hardcore adventure smartwatch. This watch has been designed to withstand even the toughest activities and conditions, and to provide you with the best possible performance.
The COROS VERTIX 2 is built with a rugged, lightweight titanium alloy case and a scratch-resistant sapphire crystal. It also features an ultra-durable polyamide watch band that is designed to stay secure on your wrist. The watch has a 1.2” AMOLED display with a 390 x 390 resolution and a 1.39” AMOLED display with a 454 x 454 resolution. It also has an IP68 waterproof rating, so you don’t have to worry about taking it with you on your water adventures.
The COROS VERTIX 2 has an impressive array of features to make your outdoor adventures more enjoyable. It has an integrated GPS and GLONASS navigation system that is accurate up to 1 meter and can track your location in real-time. It has a built-in altimeter, barometer, and thermometer that will help you stay aware of the current conditions. It also has an accelerometer, gyroscope, and compass to help you stay oriented even in the most remote locations.
The COROS VERTIX 2 also has a variety of different sports modes to help you get the most out of your workouts. It has a heart rate monitor to track your heart rate during exercise and a VO2 max calculator to measure the intensity of your workouts. It also has an oxygen saturation meter to help you monitor your performance during high intensity activities.
The COROS VERTIX 2 is the perfect companion for any outdoor enthusiast who needs a watch that can keep up with their active lifestyle. It’s built to last and designed to perform no matter what type of adventure you embark on. So if you’re looking for a rugged, reliable smartwatch to get you through your next outdoor adventure, the COROS VERTIX 2 is the perfect choice.
Source: https://www.mobilesmspk.net/mobile-video/coros-vertix-2-the-hardcore-adventure-smartwatch
When an unmanned boat nearly collided with Andrew and Jack Sherman roughly 40 miles off the coast, the pair sprang into action.
Andrew Sherman and his son Jack were drift-bottom fishing 37 miles off the coast of North Carolina when Andrew looked up to see a boat 200 yards out heading straight toward their own 21’ Sea Hunt — and its course wasn’t changing.
At first the reaction was annoyance. “I was kinda like, ‘I can’t even believe this yahoo,’” Andrew said. “We get enough instances where people go by us at 25 to 50 yards, and you’re always like, ‘Why does this guy have to fish this close to us? We have a giant ocean.’”
As the boat continued its approach, annoyance graduated to legitimate concern. Jack scrambled to move their own boat in time to avoid the impending collision.
“There was this moment where I prayed the engine would start, because that’s how dead on he was,” Andrew said. Jack was able to start the engine and power forward, avoiding the newcomer by about 10’ to 15’. The father and son stood on the deck of their own boat yelling to whoever was driving the other one. But as it passed, they saw no one — not on deck, not in the cabin, and not checking any of the lines that were out. As it passed them by, doing about 8-10 knots, they realized that no one seemed to be driving at all. Nearly 40 miles off the coast, with no human in sight, it appeared to be a ghost boat.
It’s worth noting here that Andrew and Jack Sherman are no novices when it comes to boating. Andrew grew up in Miami, where he spent his summers helping his grandfather, a 500-ton master captain, and dedicated a considerable amount of time to helping out on charter boats and commercial boats. He’s since led many Boy Scouts on backpacking trips in the mountains of Virginia. Jack is currently enrolled in the Naval Academy. If a boat happens to be running rampant out in the middle of the ocean, the Sherman family is perhaps a fortuitous one to come across.
Realizing that their near collision was not, in fact, the result of some hapless mariner not understanding common courtesy but rather something more sinister, Andrew and Jack sprang into action. Jack took the wheel and pursued the driverless boat, while Andrew hit it with some blasts on the airhorn in case that prompted some sort of response from anyone — no luck.
“Then we went through this process where we talked about how we were going to do this, because I’d never brought my boat alongside another boat going that fast,” Andrew said. “We had a little argument about who was going to jump on board, and [Jack] told me I was an old man. So I said alright, three points of contact — do not let me see you do anything rash, young man. And then we just did it, and he was on board like that. It was like nothing.”
Once on board the other boat, Jack killed the engine and did a quick scan.
I was expecting to see somebody who was probably dead or passed out in the cuddy cabin,” he said. “But there was nobody. And I was like, ‘Oh, somebody fell overboard.’ We were thinking somebody died.”
He was able to find a wallet with an ID in the cabin and take down all the person’s information, and they called the Coast Guard and relayed the events of the day. It was at this point that the Coast Guard suggested looking on the mystery boat’s GPS to see if any information could be gleaned that way. The boat had a Garmin GPS marine system, and while Andrew said he hadn’t been familiar with Garmin units prior to that, it was easy to use, allowing him to figure it out quickly.
“I figured out that you could do all this touchscreen stuff, and he’d started a track when he left Wilmington Beach. I had a track all the way out. So, for the next 20 to 25 minutes, I literally went through point, point, point on this whole track all the way back to where there was a spot about a mile from us or so where he had laid down a point.”
Andrew relayed all the latitude and longitude points to the Coast Guard all the way back to the most recent waypoint, reasoning that the driver must’ve still been on that boat at that time. It had been following a straight line until then, when Andrew could see that it had gone rogue, hooking a hard left, making a full loop, coming back through its own line, and then wrapping out and turning again to encounter the Shermans as they were fishing.
“We got done and they were like, ‘OK, roger that, Captain,’ and I was waiting for them to say to go find them, but of course they can’t tell you to do that, so we were just like, ‘OK. We’ll go find him.’” The pair decided that Jack would stay on their own boat while Andrew took the stranger’s. Starting at the last known waypoint, Jack drove in ever-enlarging circles scanning the water, while Andrew went back to where the boat had looped off course into their original location and began to zigzag the area.
During this process, Jack found a pair of boots in the water.
“I thought we were looking for a body the whole time,” Andrew said. “And then this thing clicked in my mind: If I was treading water, I’d kick my boots off. Then I just thought to myself, if I fell off, I probably fell off on the straight line [in line with the waypoints and prior to where the boat had veered off course]. So I went back to the straight line, and I was going back to Jack, but then I figured the boat was drifting south, so that was where he would be drifting, too. So I went a little north, and a little south, and then 300-400 yards in the distance, I saw this big splash. I sped up, and then I saw his arm come up out of the water.”
Andrew pulled the man — Sascha Scheller— out of the water and onto the boat. They gave him some Gatorade and headed back to shore in both boats, making sure he was OK while learning what had happened at the same time.
The story was simple, really, and one that could happen to almost any boater on any given day. Sascha had gone to the side to relieve himself and simply fell overboard. He’d reached for the railing to grab it on the way down, but he missed. And that was it — his boat sped away without him, nearly 40 miles away from shore. At one point, he said, he’d seen another boat, but they’d missed him. He’d been in the water for two-and-a-half hours.
Had his boat not gone rogue, somehow completing its pattern of hard turns and loops with no one at the helm — had it not headed straight for the Shermans, or had the Shermans not been the skilled mariners that they are — had Sascha not tracked his waypoints on his Garmin marine GPS, or had the Garmin technology been less intuitive for an unfamiliar boater in a stressful situation — this story could’ve ended so much differently.
“To me, that’s divine intervention,” Andrew said. The three men have discussed theories again and again. Sascha says he’d been trolling five rods, while Andrew and Jack only found and reeled in four. Could the fifth, whose rigger was always a little loose, have caught a pile of weed or a fish that pulled out all the line, gave just enough tension to turn the boat around and then fallen off? But even so, what would have made the boat loop all the way around, loop back through its own path, head south and then turn west to end up nearly ramming into the Shermans? Jack, a math major at the Naval Academy, has run the numbers again and again, and it just doesn’t make sense.
“At some points I think we were within even half a mile of him,” Andrew said, “but it wasn’t until the end that we came onto him.”
The Coast Guard, which had deployed a ship from Wilmington, from Wrightsville beach, two helicopters from Elizabeth City and an entire cutter from Norfolkin the 35 minutes from when the Shermans contacted them to when they found Sascha, honored the father and son in a ceremony later on, presenting Jack with an award for a naval officer and Andrew with a civilian commendation.
“They took us into the battle room where they figured this out, and you could just see the Garmin track on the screen.”
Andrew Sherman has since upgraded his tech on his own boat.
“I bought a Garmin unit because I was so impressed with Sascha’s,” he said.
Mobile phone giant Samsung has started production in Pakistan, giving hope to both the authorities and the industry that the move would scale down Pakistan’s import bill in the near future.
According to a report by Dawn, the development came to light on Tuesday at a meeting of the company’s top managers with senators who visited the production site in line with the plan to receive a briefing on the growing new sector and challenges ahead for the cellphones manufacturing industry in Pakistan.
As per Pakistan Telecommunication Authority (PTA) data, production of mobile phones by local manufacturing plants has almost doubled to 18.87 million against the import of mobile phones which stood at 45 million during the first 10 months of the current year.
However, despite the increase in local production of mobile phones, the import remained on a higher side. The PTA data says that mobile phones worth $644.673m were imported during the first four months (July-October) of 2021 compared to $557.961m during the same period of last year, registering a growth of 15.54 percent.
Quoting an official from Samsung’s partner company Lucky Group in Pakistan, the report states that with production of around 250,000 to 300,000, the aim is to produce around 3 million cellphones every year.
Moreover, the official also hailed the massive opportunities the development brings in the form of employment, investment, export opportunities and local capacity building.
Source:https://profit.pakistantoday.com.pk/2021/12/01/samsung-starts-mobile-phone-production-in-pakistan/
The smartphone segment in Pakistan is abuzz with activity, witnessing frequent launches by manufacturers, and conversations about their associated features.While this is routine, every once in a while, the sector sees a product that cuts through the clutter and surpasses consumer expectations. That is exactly what vivo has achieved this time, with its freshly launched vivo V25e — the latest entrant in the premium smartphones segment.It functions by gradually transforming the color of the rear panel when exposed to sunlight; the color reverts to its original shade once out of sun exposure.The smartphone also packs the Bokeh Flare Portrait feature, which enhances the night photography experience by making use of the dual camera system and AI to process the point light sources in the background. In our experience, this is a terrific feature that makes for some pretty enchanting snaps at night.
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