SBP permits export-oriented IT companies to acquire shareholding in foreign entities

Revised Foreign Exchange Manual (FEM) to facilitate IT companies in expanding their global footprint and increasing exports

China far ahead of other countries, including the US, in generative AI inventions, UN report says

China leads with over 38,000 of the 50,000 GenAI patents filed globally between 2014 and 2023; South Korea, Japan, and India follow, with India showing the fastest growth rate, data shows

Agreement signed for Chromebook assembly line in Pakistan

Assembly line will have an initial production capacity of 500,000 Chromebooks per year and will be scaled up to one million per year 

After digital financial services, could startup acceleration be the new passion of Pakistani telcos?

Telenor Velocity is an accelerator that is hoping to help galvanise the telco into diversifying at a time when their original business is in freefall

Govt plans to establish 10 IT parks by next year

PM directs third-party evaluation regarding the performance of software technology parks.

Pakistan records highest-ever monthly IT exports of $310mn in April 

IT exports increased by 62% YoY, 1% MoM from the previous highest of $306 million in March 2024. 

The problem is access to credit, not payments claims Abhi CEO at World Economic Forum

Representing Pakistan’s fintech community at World Economic Forum, Omair Ansari claims it is a fallacy that Pakistan has a big unbanked population because of the impact of the telcos.

Tech funding might be recovering in the US, but the trickle down effect will take its sweet time getting to Pakistan

Amidst this dreadful funding winter, can local capital be the nurturing source for Pakistan's tech scene?

Instagram surpasses YouTube in ad revenue

Court filing reveals Instagram's massive contribution to Meta's earnings since its acquisition in 2012 for $1 billion 

Turkish fintech unicorn Papara set to acquire SadaPay in possible $50mn deal

Papara commits to invest $10mn further to solidify SadaPay’s position as banking challenger

OpenAI launches Sora, a new AI model for generating videos

OpenAI has introduced Sora, a revolutionary AI model capable of creating videos up to 60 seconds long from simple text prompts. This...

Apple to launch new AI-based code completion tool

This tool aims to emulate the functionality of Microsoft's Copilot 

Productive policies or PR fluff — How useful were the interim government’s IT initiatives?

The interim IT minister claims large successes in five different areas. Profit looks at how much is real and how much is posturing

Pakistan’s IT services exports reach $1.15bn, marking 5.89% growth in FY 2023-24 first five months

Call center services propel Pakistan's IT exports, recording 11.11% increase

Cheetay mulling shut down, Dastgyr, others look towards layoffs as startups go through another purge  

Hurting macros, global dearth of risk capital lead to massive layoffs, closures in Pakistan’s startup scene.