Category: 3. Business

August 20,
2025 (MLN): The Competition Commission of Pakistan (CCP) has approved the
merger of HA Fibres (Private) Limited (HAFL) with and into Husnain Textile
Mills (Private) Limited (HTML).

The
transaction involves the amalgamation of HAFL with and into HTML, with both
undertakings being private limited companies incorporated in Pakistan.

Husnain
Textile Mills, incorporated in 2004, is engaged in the manufacturing and sale
of yarn. Similarly, HAFL, incorporated in 2006, operates in the same line of
business. Both entities are active in the textile sector, specifically within
the yarn production segment.

The
Commission, in its review of the proposed transaction, identified the relevant
market as “Yarn Cotton Polyester” within Pakistan.

Upon
evaluation, the Commission concluded that the transaction does not result in a
substantial lessening of competition.

The
parties’ combined market share remains limited, and the merger neither creates
nor strengthens a dominant position in the relevant market. Moreover, the
transaction does not give rise to any significant entry barriers.

Accordingly,
the CCP has authorized the proposed merger under Section 31 of the Competition
Act, 2010.

Copyright Mettis Link News

The Pakistani Rupee (PKR) on Wednesday appreciated by 01 paisa against the US Dollar (USD) in the interbank trading and closed at Rs. 281.95 against the previous day’s closing of Rs. 281.96.

The price of the Euro decreased by 91 paisa to close at Rs. 328.33 against the last day’s closing of Rs. 329.24, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged and closed at Rs1.90, while the exchange rate of the British Pound witnessed a decrease of 20 paisa to close at Rs. 380.81 against the last day’s closing of Rs. 381.01.

The exchange rates of the Emirates Dirham and the Saudi Riyal remained stagnant at Rs. 76.76 and Rs. 75.13, respectively.

New research reveals a longer holiday shopping season that unfolds over 7 distinct phases—and highlights how marketers can take advantage of this critical sales period

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced the release of the Mailchimp report Holiday Shopping Unwrapped: Marketing Strategies for the Moments That Matter, prepared in conjunction with Canvas8 and Marketoonist. Marketers can turn to this report for seasonal shopping cycles, enhanced insights into consumer behavior, and tailored marketing strategies for the duration of the holiday season—all drawing from expert commentary and a survey of 9,356 respondents across Australia, Benelux (Belgium, Luxembourg, and the Netherlands), Canada, Italy, Spain, Germany, Scandinavia (Denmark, Norway, and Sweden), the United Kingdom, and the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250820170246/en/

The report unpacks consumer spending by examining a wide roster of personal, cultural, and community-driven “moments,” a framework that debuted in the New E-commerce Calendar earlier this year. With an eye on the end-of-year sales rush, Holiday Shopping Unwrapped identifies a series of 7 phases that define the modern holiday shopping experience, each driven by its own set of emotional cues and purchasing habits.

“The key to effectively reaching holiday shoppers is understanding where consumers are—physically, emotionally, and culturally—during every phase of the holiday season,” says Jillian Ryan, Senior Manager of Content Strategy at Mailchimp. “Our research provides a compelling look at these motivations, granting marketers new insights and strategies for connecting with shoppers.”

For all the jokes about “Christmas Creep,” the buying festivities do begin sooner than widely acknowledged: According to the report, 43% of shoppers made a purchase tied to at least 1 major sales moment during the Early Lead-up phase, which takes place during October. And while conventional wisdom often touts discounts and deals as a reason for the season, 52% of holiday shoppers say their primary motivation for purchasing during the holidays is to bring joy to others.

Decoding the Holiday Season

The holiday season unfolds over 7 distinct phases, each marked by unique emotional drivers, spending patterns, and shopping behaviors. Understanding these phases and the archetypal shopping behaviors that define them can be key to a successful holiday strategy.

• Early Lead-up: In October, holiday cheer can feel less like festive fun and more like a rogue party guest showing up too early. But for Gift-Giving Lifers, it’s a perfect time to check off a Christmas list—in part motivated by a sense of pride in telling others they’re finished. A prime indicator? Of the US shoppers who considered making a purchase during Amazon’s Prime Big Deal Days that month, 69% were buying gifts for others.

• Pre-peak Sales: By November, audiences grow more receptive to holiday cues like music and films. For Joyful Shoppers, the desire to give something meaningful often outweighs the allure of a discount. For shoppers buying gifts for others during the holiday season, 31% fewer shoppers say price is an influential factor compared to other times of the year.

• Peak Sales: This deal-driven phase is where most shoppers use peak events like Black Friday to buy gifts for others and themselves; a whopping 75% of global shoppers have made a purchase associated with at least 1 moment during this phase. Discount Devotees, a key audience for these moments, are a broad group united by their relentless pursuit of a great deal and the feeling of having outsmarted the system.

• Festive Phase: Early December is a dynamic and emotionally charged period; some consumers are in the middle of holiday shopping, while others are just getting started. During this phase, 26% of shoppers made a purchase—often driven by regional traditions like St. Nicholas Day, for which 48% of Beneluxian and German shoppers made a purchase. It’s a popular shopping time for the Curators, who take their time hunting for gifts with a story.

• Last-minute Sprint: The days leading up to Christmas are a mix of festive celebration and last-minute prep, as some settle into traditions while others race to wrap up their to-do list. The Last-minute Listers are anxious about gifts arriving on time—and they’ll turn to any brand that can help them cross the finish line. This is a crucial audience during this phase; 78% of those who consider a purchase on Super Saturday—the last Saturday before Christmas—are buying gifts for others.

• Betwixtmas: Between Christmas and the New Year, consumers enter an indulgent phase driven by post-holiday relief. Here, the Self-Gifters take matters into their own hands: 68% of Australian, Canadian, and UK shoppers who consider a Boxing Day purchase are buying for themselves.

• New Year: During this period, consumers shift from festive giving to self-reflection and renewal. The Self-Improvers are using January sales to support their resolutions—particularly in Europe, where 63% of shoppers participating in these sales are purchasing items for themselves.

Navigating these many moments can be a complex and time-consuming challenge for marketers, but understanding what customers want—not just through survey data and expert advice, but also from the kinds of real-time marketing and financial insights and tools provided by the Intuit platform—can make all the difference.

“This report tells us that marketers have clear opportunities to reach customers, regardless of whether or not they’re offering deals or are operating outside of traditional shopping periods,” says Ryan. “There are all kinds of shoppers—and a single consumer can embody different archetypes as the season ebbs and flows. This new research builds on Mailchimp’s tradition of helping marketers understand and segment their audiences so the right message finds the right customer at the right time.”

Download the full report

Visit Mailchimp.com for more insights and a complete analysis of each of the 7 stages of the holiday buying cycle and the 7 audiences who shop during those periods. Regions surveyed include the US, Canada, the UK, Australia, Germany, Spain, Italy, Benelux, and Scandinavia.

About Intuit: Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250820170246/en/

For more information, please contact us at mc-pr@intuit.com

Source: Intuit Inc.

Released August 20, 2025

Pakistan’s leading digital microfinance bank, Mobilink Bank, has successfully upgraded its core banking system by transitioning from Temenos’ R17 to the R23 release of Temenos’ cloud-native core banking platform.

The upgrade reflects Mobilink Bank’s ongoing commitment to technological innovation, operational excellence, and customer-centric digital transformation. The successful transition was made possible through strategic partnerships with Temenos, a global leader in banking technology, and Systems Limited, a pioneer in digital transformation services.

The upgrade brings significant enhancements in the banking system’s performance, scalability, and resilience. The new architecture enables seamless integration of advanced digital features, strengthens security and compliance, and ensures faster transaction processing with real-time responsiveness to deliver a future-ready banking experience for all customers.

“This is a paradigm shift,” said Haaris Mahmood Chaudhary, President & CEO, Mobilink Bank. “By  adopting the latest cloud-native core banking technology from Temenos, we are laying the foundation for next-generation digital banking in Pakistan. Our customers can now enjoy faster, safer, and more seamless services, while we strengthen our position as a frontrunner in financial inclusion and digital innovation.”

Ammara Masood, GM Global Industries, Banking & Financial Services, Systems Limited explained: “We are proud to have led Mobilink Bank’s core modernization program, upgrading to the latest Temenos Transact on OCI using PCA-OKE. This new digital core unifies banking capabilities, cloud, data, AI, and security, enabling agility and continuous reinvention for the Bank. Leveraging our deep expertise and regulatory accelerators, we’ve set a new benchmark for large-scale digital transformations in the region.”

Customers can enjoy an upgraded digital experience, including seamless integration of features like digital onboarding and personal finance tools, making banking more convenient and accessible. On the backend, stronger security protocols and enhanced compliance reinforce customer trust and regulatory alignment.

Aamir Ibrahim, CEO, Jazz highlighted: “Mobilink Bank’s R23 transformation is a powerful example of how we are building the next generation of digital infrastructure in Pakistan. By combining world-class technology with our deep commitment to financial inclusion, we are creating faster, safer, and more accessible services for millions. This is more than a system upgrade – it’s a step toward a fully connected, cashless, and inclusive economy.”

The modular and scalable design of Temenos’ R23 release allows for quicker rollout of new services with minimal disruption. Enhanced diagnostics and backend visibility enable faster issue resolution and smoother service delivery. Internally, the system has streamlined workflows, reduced manual processes, and improved efficiency. Its advanced monitoring and independent service modules also ensure easier maintenance, continuous agility, and future-ready innovation.

Santhosh Rao, Managing Director, Middle East & Africa, Temenos, commented: “We’re thrilled to see Mobilink Bank take this bold step forward. Upgrading to our latest cloud-native core banking platform is more than a tech refresh. It’s a strategic move toward truly modern banking. With Temenos, digital banks like Mobilink Bank follow a proven path to innovate faster, scale smarter, and deliver exceptional customer experiences with confidence.”

This advancement is central to Mobilink Bank’s vision of redefining digital banking in Pakistan to deliver accessible, secure, and inclusive financial solutions across the nation.

Stay informed with free updates

Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.

Oil and gas companies in the UK’s North Sea are no longer earning “windfall” profits and their tax rates should be revised with crude prices now almost half of their 2022 peak, one of the largest operators has said.

Companies are paying a 38 per cent “energy profits levy” (EPL) that was introduced as oil prices surged to $128 a barrel in the wake of Russia’s invasion of Ukraine three years ago. It is due to run until 2030 and the government has been consulting the sector over the long-term future tax regime for the North Sea after that.   

“Right now the EPL is anything but a windfall tax, we are far away from the windfall of 2022,” said Yaniv Friedman, chair of Ithaca Energy, as he unveiled the company’s half-year results. 

Ithaca expects to pay between $270mn and $300mn in taxes this year, up from its previous guidance of $235mn to $265mn, as its production and size increase, even though oil prices are expected to fall towards the end of the year. 

The EPL automatically expires if oil prices fall below $71.40 a barrel and gas prices drop beneath 54p a therm for six consecutive months.

While oil has traded below that level since April, with the exception of during the brief Iran-Israel war in June, gas prices remain well above the threshold and are unlikely to fall beneath it in the near term.

Benchmark Brent crude was trading at just under $67 a barrel on Wednesday, while UK gas prices were 77p a therm. 

Friedman is the latest executive to speak out against the levy, which the sector has argued is a threat to the UK’s energy security and a deterrent to investment.

“Ideally, we think it [the windfall tax] should go away,” he said. “Being realistic, the government could do a lot to improve the mechanism.”

He suggested decoupling the requirement for a fall in both oil and gas prices, and a change to the threshold levels.

“There’s a limit to how much you can put on an industry that is critical,” he said, as he called for clarity about the future tax regime in the North Sea because “no one will invest in the future” otherwise.

Ithaca, which is majority-owned by Israeli group Delek, made $41mn of net profit in the first half, below a consensus forecast of $111mn, because of lower revenues and impairment charges.

Its shares rose as much as 5.3 per cent as it guided to much stronger production in the second half and said it had cut its operating expenses to just $17.5 a barrel, down from $27.3 a barrel in the same period last year.

The company, which absorbed the North Sea assets of Italian oil major Eni last year, is also developing two of the biggest projects in the region, Rosebank and Cambo. It increased its guidance for Rosebank’s costs in 2025 by roughly $40mn after bringing forward work into this year. 

Ithaca also said it had taken advantage of the price increase in June to hedge its prices for a further 9mn barrels of oil and gas, and had almost 39mn barrels hedged by the end of June at an average floor price of between $68 and $69 a barrel for oil.

The government’s energy department has been contacted for comment.

Google Ads is set to make a major transition in Search campaign settings by the end of 2025. Advertisers will no longer manually select target languages. Instead, Google’s AI will automatically detect user language based on signals such as search behavior, browser settings, query terms, and historical activity.

Currently, advertisers often specify languages like English, Spanish, or French manually to reach the right audience. With this update, such precision will be replaced by AI interpretation, which promises streamlined campaigns but introduces concerns over message mismatches, particularly in multilingual or regionally nuanced markets.

This change is limited to Search campaigns. Display, YouTube, and Shopping formats will still allow manual language targeting, giving advertisers a measure of continued control in other channels.

Google’s update brings both opportunities and challenges for advertisers. On one hand, campaign setup will be simplified since there will be no need for manual language selections, making it especially useful for small businesses and low-budget advertisers. On the other hand, diminished granularity could affect brands that target niche or localized segments, such as French speakers in Canada or multilingual urban areas, where precision is critical.

To balance this, Google’s AI will analyze signals like user search patterns, device language, ad language, landing page text, and more to automatically assign language targeting, promising efficiency but raising concerns over accuracy in complex markets.

Reliance on AI is seeing a rapid increase in Google tools as a shift toward full automation, similar to AI-enabled bidding, Performance Max dashboards, and Smart Campaigns. However, experts caution about over-reliance on AI, especially in culturally sensitive or bilingual markets.