ISLAMABAD: Hub71-backed ABHI, an embedded finance platform founded in Pakistan, has established its global headquarters in Abu Dhabi with support from the Abu Dhabi Investment Office (ADIO) to grow its international operations, ADIO said in a statement this week.
ABHI joined Hub71, Abu Dhabi’s global tech ecosystem, in 2022 and is now working with Hub71’s strategic partner ADIO as the fintech company scales up its operations to capture growth opportunities in emerging markets.
“We are thrilled to establish our global headquarters in Abu Dhabi, a decision that marks a significant milestone in ABHI’s journey. This move is not just about expanding our geographical footprint; it’s a strategic alignment with Abu Dhabi’s vibrant tech ecosystem and the forward-thinking vision of ADIO,” Omair Ansari, CEO & Co-Founder of ABHI, said.
“Our presence in Abu Dhabi will enable us to leverage the dynamic business environment and robust support system to accelerate our growth and innovation. This partnership with ADIO is a testament to our commitment to delivering cutting-edge financial solutions and reaffirms our position as a leader in the embedded finance sector. We look forward to contributing to and benefiting from the thriving tech landscape of the UAE and beyond, furthering our mission to empower employers and employees with efficient financial solutions.”
Founded in 2021, ABHI was named among the World Economic Forum’s 2023 Technology Pioneers, making fintech history in the MENAP region. Recently, ABHI has been selected as one of the Future 100 companies in the UAE.
The firm provides Earned Wage Access (EWA) to employees, which allows them to withdraw their earned salary any day, and offers employers payroll solutions and SME financing. It is currently servicing more than 500 companies across the globe. ABHI has also been selected as one of the Future 100 companies in the UAE, an initiative by the Ministry of Economy and the Government Development and the Future Office.
“ABHI is a great example of how fast companies can start, scale and succeed in Abu Dhabi. By being part of the Hub71 tech ecosystem for a year, the company is now collaborating with ADIO to rapidly accelerate its growth and expansion beyond Abu Dhabi,” Badr Al-Olama, Director General of ADIO, said:
The Abu Dhabi Investment Office enables local, regional and international investors to thrive and grow in the UAE capital through its close collaboration with government partners, sovereign investors, and national champions.
According to Startup Genome and the Global Entrepreneurship Network, Abu Dhabi is one of the fastest-growing technology ecosystems in the Middle East and North Africa (MENA) region and sixth fastest globally. It is fast becoming the region’s top tech startup destination with over 260 startups raising over AED 5.1 billion in funding and generating AED 3.5 billion in revenues since inception, the ADIO statement said.
“As a pioneer in the SME lending solutions space, ABHI has the potential to support growth across the wider UAE economy. The company is currently in discussions with multiple UAE banks about rolling out its solutions,” ADIO said.
Pakistani fintech sets up global headquarters in Abu Dhabi to expand international operations
https://arab.news/jacjz
Pakistani fintech sets up global headquarters in Abu Dhabi to expand international operations
- ABHI was named among World Economic Forum’s 2023 Technology Pioneers, making fintech history in MENAP region
- Abu Dhabi Investment Office enables local, regional and international investors to thrive and grow in the UAE capital
Pakistan’s army vows to hunt down militants a day after attack kills 16 soldiers
- Pakistan has struggled to contain militancy in its northwest since a fragile truce with Pakistani Taliban broke down in 2022
- Islamabad has frequently blamed the surge in militancy on militants operating out of Afghanistan, Kabul denies the allegation
ISLAMABAD: Pakistan’s army chief, General Asim Munir, on Sunday vowed to hunt down militants waging attacks against security forces and their facilitators, the Pakistani military said, a day after the killing of 16 soldiers in an ambush in the country’s northwest.
Gen. Munir said this during his visit to the South Waziristan district in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, which has been battling a surge in militancy.
The visit came a day after the killing of 16 soldiers and eight militants during a gunfight in South Waziristan after a group of militants ambushed an army outpost in Makeen area.
Interacting with officers and troops, the army chief commended their resilience and steadfastness in the face of militancy, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
“The army chief highlighted that the courage, resilience, and unyielding determination of Pakistan’s armed forces are the cornerstone of the nation’s sovereignty,” the ISPR said in a statement
“COAS reaffirmed Pakistan Army’s commitment to pursuing Fitna Al Khwarij [militants] which shall continue to be hunted down till its elimination along with the facilitator, abettors and financier who will be made to pay the price for their nefarious activities against the state.”
The brazen raid on the outpost near the border with Afghanistan was claimed by the Pakistani Taliban, who said it was staged “in retaliation for the martyrdom of our senior commanders.”
The development came days after the Pakistani military said it had killed 11 militants in separate operations in KP’s Tank, North Waziristan and Mohmand districts.
Pakistan has witnessed a surge in militancy in KP since November 2022, when a fragile truce between the Pakistani Taliban and the government in Islamabad broke down.
Islamabad has frequently accused neighboring Afghanistan of sheltering and supporting militant groups that launch cross-border attacks. Afghan officials deny involvement, insisting Pakistan’s security issues are an internal matter of Islamabad.
On Saturday, the Pakistani military also urged the Taliban administration in Kabul to ensure robust border management after a group of militants tried to infiltrate from Afghanistan, leading to a skirmish that left four militants and a soldier dead a day earlier.
Pakistan national airline aims to expand its fleet to improve flight operations
- PIA has 23% of Pakistan’s domestic aviation market, but its 34-plane fleet has failed to compete globally
- The airline has faced a lack of direct flights, despite having agreements with 87 countries and key landing slots
KARACHI: Pakistan International Airlines (PIA) is aiming to expand its fleet to improve flight operations, the national flag carrier said on Sunday, following the addition of another Airbus 320.
PIA has 23 percent of Pakistan’s domestic aviation market, but its 34-plane fleet has failed to compete with carriers internationally.
The Pakistani airline has been facing a lack of direct flights, despite having agreements with 87 countries and key landing slots.
“The 11th Airbus 320 AP-BOM has been inducted into the operational fleet with new engines. The aircraft was rolled out from the hangar with new paint and cabin decoration,” PIA said in a statement.
“PIA’s operational fleet will also include long-grounded Boeing 777 and ATR aircraft in the next few days.”
The fleet revival will greatly improve the expansion of PIA’s network and product quality, according to the statement. From this week, PIA has also introduced an in-flight Internet system in domestic flights, which is gaining popularity among passengers.
The airline said strict adherence to flight schedules, providing safe and high-quality products to passengers was its top priority.
“PIA’s flight schedule has achieved 90 percent regularity,” PIA Chief Executive Officer Khurram Mushtaq said. “Measures for operational fleet expansion and product improvement are part of our commitment.”
Earlier this month, PIA said it would resume flights to Europe in January, starting with Paris, after the EU aviation regulator lifted a ban on the national flag carrier.
PIA’s authorization to operate in the EU was suspended in June 2020 over concerns about the ability of Pakistani authorities and its Civil Aviation Authority to ensure compliance with international aviation standards.
The ban cost the loss-making airline 40 billion rupees ($144 million) annually in revenue. Pakistan’s attempts to privatize PIA fell flat this year, when it received only a single offer, well below its asking price.
Pakistani province launches helicopter service to evacuate people, dispatch aid to clashes-hit district
- Clashes between Sunni, Shia tribes have killed over 100 people in Kurram since last month
- On Friday, authorities set a deadline of Feb. 1 for the warring tribes to surrender weapons
PESHAWAR: Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province has launched a helicopter service to evacuate people and transport aid to Kurram district that has been hit by sectarian clashes in recent weeks, officials said on Sunday.
Kurram, a tribal district of around 600,000 near Pakistan’s border with Afghanistan where federal and provincial authorities have traditionally exerted limited control, has been a flashpoint for sectarian tensions between Shia and Sunni tribes for decades.
Fresh clashes that erupted last month have killed more than a hundred people, triggering a humanitarian crisis with reports of starvation, lack of medicine and oxygen shortages following the blocking of the main highway connecting Kurram’s main city of Parachinar to the provincial capital of Peshawar.
In response to the problems being faced by residents, the KP administration has been facilitating travel between Parachinar and Peshawar. On Sunday, two flights evacuated 27 individuals as well as carried 16 government staffers and members of a tribal council, which has been striving to achieve peace, to Kurram.
“There is no fare involved in transportation of people or medicines via the helicopter, rather it is a voluntary service by the KP government to meet the emergency situation,” Nisar Muhammad Khan, a KP government official, told Arab News.
The helicopter service was also being used to dispatch medicines to Parachinar. A day ago, 53 individuals, including 14 patients, were shifted to Peshawar from Kurram via helicopter, according to the provincial authorities.
A third flight was scheduled to bring people stranded in the Tal area back to Parachinar, while five more flights were expected to relocate over a hundred people on Sunday, according to the provincial government.
Chief Minister Ali Amin Gandapur’s office said the government had so far dispatched 1,850 kilograms of medical supplies to Kurram, assuring that it would mobilize all resources to ease problems of the people and ensure durable peace in the region.
The development comes days after the KP authorities set a deadline of Feb. 1 for warring Sunni and Shia tribes in the district to surrender all weapons and dismantle their bunkers to stem sectarian clashes in the region.
The decision was made at a meeting of the KP apex committee, which comprises civilian and military officials, to discuss a sustainable solution to the issue. It allowed the launch of a special air service for temporary evacuation from some parts of Kurram to protect people’s lives, according to the apex committee declaration.
“The agreement outlines that both sides will submit a detailed action plan within 15 days for voluntary submission of weapons,” read a declaration issued after the apex committee meeting.
“All weapons are to be deposited with the local administration by February 1. Additionally, it was decided that all bunkers in the area will be dismantled by the same deadline.”
In the meantime, land routes to the area would be opened intermittently on humanitarian grounds and a mechanism was put in place for secure transportation, according to the statement.
“Personnel of police and Frontier Corps will jointly provide security to the convoys,” it read.
Last month’s clashes erupted after rival tribes attacked convoys of passengers on the Parachinar-Peshawar road, which were followed by attacks on each other’s villages.
The apex committee asked both sides to avoid any violent action in the future to keep the land route safe and open at all times, hoping that the parties would fully cooperate with the government for a lasting solution to the issue.
Champions Trophy preparations in full swing as Karachi stadium upgradation nears completion
- PCB Chairman Mohsin Naqvi says the National Stadium will be ready well before the ICC tournament
- He says the PCB is improving facilities for Pakistani cricket fans to ensure they have a better experience
ISLAMABAD: Preparations for the ICC Champions Trophy 2025 are progressing rapidly, with the upgradation of Karachi’s National Stadium nearing completion, Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi said on Sunday during a visit to the venue.
The tournament, scheduled for February 2025, has been at the center of controversy following India's reluctance to play in Pakistan due to strained political ties.
The International Cricket Council resolved the impasse by approving a hybrid model, allowing India’s matches to be held at neutral venues while other teams play in Pakistan. The decision ensured India’s participation while retaining Pakistan as the official host.
“Remarkable progress has been made in a very short time,” Naqvi was quoted in a PCB statement. “The upgradation of the National Stadium will be completed well before the Champions Trophy tournament.”
During the visit, Naqvi reviewed ongoing projects, including the installation of new seats in enclosures, enhanced parking facilities for 2,700 vehicles and finishing work on the stadium building.
He also instructed officials to expedite the installation of LED lights and scoreboards.
“We are improving facilities for cricket fans to ensure they have a better experience,” he added.
The PCB is under pressure to ensure the country is ready to host the major ICC tournament.
Security concerns and political tensions had previously kept high-profile international cricket events away, but recent improvements in safety and infrastructure have bolstered Pakistan’s case as a venue.
Praising the rapid progress at the National Stadium, Naqvi lauded the project team for their dedication.
“I congratulate the entire team for their outstanding and swift work,” he said.
The Champions Trophy is seen as a pivotal moment for Pakistan cricket, with the PCB aiming to deliver a world-class tournament to reaffirm the country’s ability to host international events successfully.
Students in Pakistan’s north embark on over 150-kilometer march for road safety awareness
- The marchers aim to press the government to built tunnels on 167-kilometer Juglot-Skardu Road to avoid accidents, blockades
- They say the original construction plan of JSR included five tunnels, but not a single one was constructed by authorities
KHAPLU, Gilgit-Baltistan: A group of students on Saturday embarked on a more than 150-kilometer march from Pakistan’s northern Gilgit district to Skardu, aiming to raise awareness about road safety.
The marchers called for making the 167-km single-carriage Juglot-Skardu Road (JSR), which connects the Gilgit division with Skardu district in the Baltistan division, safer for travelers by building tunnels at various locations prone to landslides in the mountainous region.
Skardu is a major tourism, trekking and mountaineering hub in Pakistan’s northern Gilgit-Baltistan region and home to Askole and Hushe villages, often referred to as gateways to snow-capped peaks, including K2, the Gasherbrums and Broad Peak, as well as the Baltoro, Biafo and Trango glaciers.
“We are marching just with a single agenda and our slogan is: ‘Build tunnels, save lives,’” Shehbaz Shareef, a member of the Baltistan Students Federation (BSF), told Arab News.
“We have organized this walk to raise awareness about the need for safer and reliable routes between Skardu and other parts of the country.”
Shareef said the original construction plan for JSR included five tunnels, but none were built.
“This route has been constructed by FWO [Frontier Works Organization],” he added. “However, the tunnels were not built, and this road has become more dangerous.”
Arab News contacted FWO, a construction and engineering organization managed by the Pakistan Army, for its version. However, it was referred to the local chapter of the military’s media wing, Inter-Services Public Relations, which did not respond to the query until the filing of this report.
The Awami Action Committee (AAC), a civic rights body in the region, announced its support for the march.
“We are very thankful to the BSF who are raising a very important issue. They are demanding the government to make this road safer through this march because this road is the only land route to the Baltistan division,” Najaf Ali, chairman of the AAC Baltistan chapter, told Arab News.
“It has become a well of death. Accidents are common on this road, and it has devoured many precious lives. A few days ago, five people were killed after a landslide buried their car. We have grown tired of lifting bodies due to accidents.”
Ali urged the government to build the requisite tunnels on the road.
“This is a matter of life and death, so we are with the students, and we will warmly receive them in Skardu,” he said. “Additionally, we also held a meeting with trade bodies and decided to launch a big drive to press the government to make this road safe.”
Mesam Kazim, opposition leader in the Gilgit-Baltistan Assembly, said they would do their utmost to press the government for the construction of tunnels on JSR.
“In 2022, we adopted a unanimous resolution demanding the federal government to order the construction of tunnels on the Gilgit-Skardu road to avoid frequent blockades of the artery due to landslides,” Kazim said.
“In the initial PC-1 [survey] uploaded by NHA [National Highway Authority], the construction of tunnels was part of the plan. Tunnels have been missed, and international standards [of construction] have been violated by FWO on JSR.”
He lamented that there were no parking lots, safety barriers, or speed limit boards on the road, and more than 100 people had lost their lives in accidents on JSR over the last few years.
“Who is responsible for these casualties?” Kazim questioned.
