Tag: raises

Pakistani startup "Finja" raises $1 million in funding for a product to replace cash

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LAHORE - A Pakistani startup Finja that relies on the financial technology model (Fintech) has successfully raised $1 million from Stockholm-based Vostok Emerging Finance for a product that they hope will eventually replace cash. Founded by seasoned individuals from banking and technology Qasif Shahid, Monis Rahman, and Umer Munawar, Finja aims to introduce innovative financial services through the upcoming launch of a mobile wallet product…Read More

MoCC raises frown on IWTDC project

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STAFF REPORT ISB: The Punjab government initiative of Inland Water Transport Development Company (IWTDC) has faced rebuttal from Ministry of Climate Change (MoCC); the Global Climate Change Impact Studies Centre (GCISC) which is research wing of the ministry has marked observations that the project could have diverse impacts on aquatic ecosystem if necessary protocols are not ensured and safeguards were not placed in the site. The GCISC also highlighted that the project has to be in…Read More

MoCC raises frown on IWTDC project

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article image STAFF REPORT ISB: The Punjab government initiative of Inland Water Transport Development Company (IWTDC) has faced rebuttal from Ministry of Climate Change (MoCC); the Global Climate Change Impact Studies Centre (GCISC) which is research wing of the ministry has marked observations that the project could have diverse impacts on aquatic ecosystem if necessary protocols are not ensured and safeguards were not placed in the site. The GCISC also highlighted that the project has to be in…Read More

ICCBS raises PhD scholarship amount

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article image STAFF REPORT KHI: The meager funding and scholarship money renders insufficient efficiency of doctorate students. The International Center for Chemical and Biological Sciences (ICCBS), University of Karachi (UoK) has sensed the pulse of the time and has subsequently raised the scholarship money for MS/MPhil and PhD students. The scholarship for MS and PhD has been raised from Rs. 14,000 to 16,000 and Rs. 16,000 to Rs. 30,000 respectively. The decision to give monetary hike for…Read More

WHO raises scare about genetically engineered crops

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article image STAFF REPORT ISB: Environmentalists have sounded an alarm in Pakistan following a WHO report that the world’s most widely used Roundup herbicide to kill weeds "probably" causes cancer. "It is a warning for countries like Pakistan where growers of genetically modified (GM) crops are being encouraged to use Roundup," a researcher at the PARC observed. Roundup’s active ingredient glyphosate that kills major weeds is identified as carcinogenic. Sri Lanka and…Read More

Halal Food Scheme raises dem and for Pak products

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STAFF REPORT IBD: The Pakistan National Accreditation Council (PNAC) has played a leading role in the lunch of Halal Food accreditation scheme which has increased the demand of Pakistani products not only at local level but also in the Muslim countries. During a briefing given to Federal Minister for Science and Technology Zahid Hamid, it was told that PNC has an important role in the World Trade Organization (WTO) regime. Director General PNAC Khalid Mahmood explained about the…Read More

Mobilink raises Rs.2b loans

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article image PROPAKISTANI: Mobilink has raised Rs 2 billion through privately placed Term Finance Certificates (TFCs) also known as secured loan raised through institutional investors, said a notice sent to Karachi Stock Exchange.However, this is yet not clear that this capital injection will be used for network expansion, 3G rollout, investment in branchless banking or for an upcoming acquisition.According to details, the maturity of these TFCs are up to 48 months with the maturity date of March and April…Read More