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
Marcus Stoinis lets rip as Australia crush Pakistan for T20 series whitewash
- After opting to bat, Pakistan raced to 62-1 before crumbling to 117 all out in the 19th over
- Stoinis slammed five sixes and five fours in his 27-ball masterclass, staying unbeaten at 61
HOBART: Marcus Stoinis slammed five huge sixes in an unbeaten 61 as Australia crushed Pakistan by seven wickets in Hobart on Monday to secure a 3-0 T20 series whitewash.
Chasing a meagre 118, the hosts hit the target in the 12th over to hand Pakistan a reality check after the visitors won the preceding ODI series 2-1.
Stoinis was unstoppable once he got going, also blasting five fours in his 27-ball masterclass.
“It’s really nice to get another win and go 3-0 up,” said Australia skipper Josh Inglis.
“When he’s going like that, it’s really hard to stop,” he added of Stoinis. “One of those sixes was probably the biggest I’ve seen.”
The match at Bellerive Oval was a dead rubber after Australia won a rain-hit match in Brisbane by 29 runs and then in Sydney by 13 runs.
After opting to bat, Pakistan raced to 62-1 before crumbling to 117 all out in the 19th over with Babar Azam top-scoring on 41 and Aaron Hardie taking 3-21.
Jake Fraser-McGurk began the run chase with consecutive boundaries from Shaheen Shah Afridi before the speedster dismissed Matt Short for two, caught at mid-on by Irfan Khan.
Fraser-McGurk (18) followed next over, undone by the sheer pace of Jahandad Khan in another mis-fire by the 22-year-old.
But Inglis kept the scoreboard ticking over alongside Stoinis, who let rip in the ninth over, punishing Haris Rauf for 20, including a massive six that landed on the stadium roof.
Their 55-run partnership ended when Inglis scooped Abbas Afridi to Rauf on 27, which brought Tim David to the crease.
He was bystander to Stoinis, who brought up his fifth T20 half-century with another giant six before seeing them home.
“There’s lots of positives, the way some of the players batted and bowled, these youngsters will come good,” said Salman Agha, Pakistan’s skipper for the night with Mohammad Rizwan rested.
“It’s a big achievement for us to win a one-day series here after 22 years, we could have done better in the T20 series but we’ll come back stronger.”
Sahibzada Farhan opened the Pakistan batting with Azam in the absence of Rizwan.
But on a chilly evening, he lasted just seven balls before top-edging a short one from Spencer Johnson — fresh from taking five wickets in Sydney — to Xavier Bartlett.
Azam produced a series of elegant strokes as he and Haseebullah Khan put on a quickfire 44 for the second wicket.
But Kahn was no match for Adam Zampa’s spin, collecting an outside edge on 24 to Short.
Pakistan’s woes mounted with Usman Khan (3) caught on the ropes after slogging Hardie and Agha trapped lbw by the same bowler for one.
It left them reeling on 72-4 at the halfway mark and when Zampa bowled Azam and Khan (10) was needlessly run out they were in deep trouble.
Shaheen Shah Afridi blasted only six of the innings but didn’t last as the tailenders were mopped up.
Pakistan PM urges all sectors to ensure tax compliance for economic growth
- Faced with persistent tax evasion, officials are implementing automated tax collection system
- Government says it wants to increase the tax-to-GDP ratio to 13 percent in the next three years
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday called for all sectors to fulfill their tax obligations, emphasizing that economic development hinges on collective responsibility and adherence to tax laws.
The government has set an ambitious target to increase the tax-to-GDP ratio from less than 10 to 13 percent over the next three years, describing the current revenue generation level as “unsustainable.”
Faced with persistent tax evasion, authorities are implementing reforms aimed at automating the tax collection system, broadening the tax base, and enforcing strict compliance measures.
The prime minister raised the issue while chairing a meeting to review the economic situation in the country.
“Economic development is only possible when everyone fulfills their share of responsibility,” he was quoted as saying in a statement released after the meeting by his office. “All sectors must pay taxes to contribute to national progress.”
During the meeting, he noted that inflation had decreased from 38 percent to seven percent, and the interest rate had been reduced from 22 percent to 15 percent. He maintained these developments were expected to boost business activity and create new employment opportunities in the country.
The prime minister also commended the provincial administrations for their reforms in the agricultural sector, pointing out it had contributed to Pakistan’s economic stability.
Pakistan’s economy has faced significant challenges in recent years, including high inflation and fiscal deficits.
The government’s focus on tax reforms and economic stabilization measures aims to address these problems and set the country on a path toward sustainable growth.
PCB urges India to discuss ‘concerns’ related to Pakistan-hosted Champions Trophy
- India has refused to send its cricket team to Pakistan for Champions Trophy tournament in February 2025
- PCB appoints former fast bowler Aqib Javed as temporary white-ball head coach until Champions Trophy
ISLAMABAD: Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi on Monday urged India to discuss concerns on sending its national cricket team to Pakistan, reiterating that the multi-nation tournament will be held in Pakistan next year.
Pakistan is scheduled to host the Champions Trophy 2025 tournament from Feb. 9 to Mar. 19 next year. However, the International Cricket Council (ICC) this month informed Pakistan that India had declined to play any matches in Pakistan, prompting the PCB to seek a clarification from the ICC on the refusal. Officially the Board of Control for Cricket in India (BCCI) has not informed the PCB of its decision.
India has not sent its cricket team to Pakistan since 2008 due to political tensions between the two countries. Pakistan was forced to agree to a “hybrid” model for the 2023 Asia Cup through which all of India’s matches were shifted to Sri Lanka. Pakistan has said it will not agree to a similar model for the Champions Trophy tournament.
“Right now, all the teams that have qualified for the Champions Trophy are ready to come [to Pakistan] and nobody has an issue,” Naqvi told reporters in Lahore. “I will say it today too that if India has any concern, they should talk to us, we will address their concern. I don’t think there is any reason because of which the Indian team cannot come here.”
The ICC’s Champions Trophy tour kicked off on Saturday from Islamabad but did not head to Muzaffarabad in the first leg of its journey. The BCCI had objected to the trophy’s original route, which included Muzaffarabad, the capital of Pakistan-administered Kashmir. The territory is disputed by the two countries.
The ICC Men’s World Cup 2023 trophy was brought to India’s Ladakh region in July this year, a territory in Indian-administered Kashmir disputed by both countries. When asked about the ICC canceling the trophy tour in Muzaffarabad, Naqi said:
“I think the ICC will have to think about its credibility [and consider] that it is a body of all cricket organizations in the world,” Naqvi said. “Even now, the tour has not been canceled, it has been rescheduled.”
The PCB chairman disclosed that it has appointed former fast bowler and selection committee member Aqib Javed as the interim white-ball head coach of the men’s national squad till the Champions Trophy tournament. He said the decision was taken so that the board does not rush into appointing a new white-ball coach for Pakistan after Gary Kirsten’s resignation.
“This is just temporary and we are about to start the process [to appoint] a head coach in the next 10-15 days so that we can search and bring in a nice head coach,” he said.
The development takes place a day after the PCB denied speculation Javed would replace Pakistan’s incumbent interim head coach in the Test match format, Jason Gillespie, saying that the Australian will continue to coach the men’s side till the South Africa series in December/January 2025.
The white-ball coaching role had become vacant following Kirsten’s resignation in October. Red-ball head coach Gillespie had coached the side during the recent white-ball tour of Australia, who will now rejoin the side for the upcoming Test series in South Africa.
In a separate statement, the PCB said Javed will continue to serve as a senior member of the men’s selection committee and will be assigned additional responsibilities following the conclusion of the Champions Trophy tournament.
The Pakistan men’s side are scheduled to play three ODIs and three T20Is in Zimbabwe from Nov. 24 to Dec. 5 and as many white-ball matches in South Africa from Dec. 10-22. In the lead up to the ICC Champions Trophy 2025, Pakistan will host New Zealand and South Africa for an ODI triangular series from Feb. 8-14.
Javed rose in influence in the cricket board after he was named to a revamped selection committee featuring Aleem Dar, Hassan Cheema and former batter Azhar Ali. His tactic to turn the batting friendly Multan track into a spin-friendly one helped Pakistan secure a 2-1 series victory over England, after Pakistan lost the first Test by an innings.
Following Pakistan’s triumph over England, the South Asian team won their first ODI series in Australia since 2002 by beating the hosts 2-1 this month. The green shirts, however, lost the three-match T20I series 3-0 to the hosts.
Pakistan’s Punjab to reopen schools from tomorrow as air quality improves in most districts
- Province’s Environmental Protection Agency says its directive is not for Lahore and Multan where smog persists
- Smog has been a recurring problem during winter months, with authorities yet to find any sustainable solutions
ISLAMABAD: Educational institutions across Pakistan’s most populous Punjab province, except for Lahore and Multan divisions, will reopen tomorrow, according to a notification issued by the province’s Environmental Protection Agency on Monday, following an improvement in air quality as smog conditions eased.
Toxic smog began affecting various cities in Punjab last month, as cold air trapped dust, diesel fumes and smoke from illegal stubble burning. In response, provincial authorities closed schools, restricted heavy transport on designated days and banned access to public spaces such as parks and playgrounds.
“The ambient air quality has improved in most districts of Punjab, due to rain in upper parts of Punjab, change in wind direction and speed,” the notification, signed by the EPA director general, said. “Therefore, all the educational institutions, except [in] Lahore and Multan divisions, shall be opened [with effect from] 19-11-2024 (Tuesday) with physical presence of students/staff.”
The notification announced students and staff must adhere to safety protocols, including wearing face masks, while outdoor sports and co-curricular activities would remain banned until further notice.
The decision follows weeks of severe smog that forced authorities in Punjab to close schools or shift them to online learning in several districts.
Smog has been a recurring problem during the winter months in the country, with authorities yet to find a sustainable solution to the crisis.
Earlier this month, NASA’s satellite imagery revealed a dense layer of smog stretching between Pakistan’s Lahore and India’s New Delhi, underscoring the severity of the environmental crisis.
The development has prompted climate experts to demand urgent action, as Pakistan’s meteorological department forecasts smog to persist until mid-December.
With schools reopening in most districts of Punjab, the EPA emphasized the importance of continued vigilance and compliance with safety measures, warning that smog could return if weather patterns shift or mitigation efforts are relaxed.
Four people arrested after Pakistani woman’s dismembered body found in Punjab
- Zara Qadir, who lived with her in-laws, was reported missing by her father earlier this month
- Police say her mother-in-law, other relatives have been arrested and have confessed to the crime
ISLAMABAD: Pakistani police said on Monday they have arrested four family members accused of murdering a 30-year-old woman in Daska, located in Punjab province’s Sialkot district, in a case highlighting the prevalence of domestic violence in the country.
Zara Qadir, reported missing by her father on November 11, was married to Qadir Ahmed, a resident of Kotli Meeran in Daska tehsil, four years ago.
According to the complaint lodged with the police, the couple had a two-year-old son who lived with his mother while his father worked abroad. Zara herself was residing with her in-laws and had complained of violence and mistreatment by her relatives.
Speaking to Arab News, a Sialkot police spokesperson, Malik Waqas Ahmed, said the victim’s mother-in-law, sister-in-law, and two other relatives were arrested after Zara’s dismembered body was found in two sacks disposed of in a drain.
“All four individuals involved have been arrested,” he said. “They are Sughran Bibi, Zara’s mother-in-law, Yasmeen, her sister-in-law, Abdullah, who is Yasmeen’s son, and Naveed, a relative from Lahore.”
“They have confessed to the crime, and the murder weapon has been recovered,” he added. “They are currently on physical remand for further investigation.”
Ahmed said Zara’s husband returned to Pakistan soon after the incident, though his role in the murder has not been established.
The brutal killing is a stark reminder of the enduring issue of domestic violence in Pakistan, where societal taboos and weak enforcement of laws leave many women vulnerable to abuse.
The suspects allegedly acted out of personal grievances caused by financial matters and familial disputes.
Police are continuing their investigation to establish the full motive behind the crime, saying the woman’s in-laws also accused her of practicing witchcraft, claiming she was bringing hardships to the family.
Cases of violence against women often go unreported in Pakistan, where cultural norms discourage victims from seeking legal recourse.
Rights groups have frequently called for stronger enforcement of existing laws to protect women and ensure accountability for perpetrators.
