Business
Pakistan targets $15 billion in IT exports by 2030 | The Express Tribune
IT minister says Rinova AI-RCM Matter deal to bring AI medical billing, create thousands of skilled jobs in Pakistan
Minister for Information Technology and Telecom, Shaza Fatima Khawaja, said Pakistan has witnessed a 25 percent growth in IT exports, and the government aims to maintain this momentum to achieve an export target of $15 billion by 2030.
“Government is working to boost a technology-driven and knowledge-based economy under the concept of a True Digital Pakistan,” the IT minister said, while addressing a signing ceremony between Rinova AI and RCM Matter. The agreement between the two companies aims to bring AI-enabled medical billing to Pakistan and create thousands of skilled jobs that strengthen the country’s digital economy.
Shaza highlighted the contribution of private-sector IT companies to the economy and said the government is focusing on two priorities: supporting the private sector to position Pakistan as a tech destination, and transforming the country into a digital nation.
“The government is training half a million human resources annually at no cost, with a focus on demand-driven training,” she said. She added that a roadmap for True Digital Pakistan has been developed, and a commission led by Prime Minister Shahbaz Sharif is ensuring data access for both government and private sectors.
Read More: PSX surges past 165k milestone as optimism builds over IMF meeting
“Data will be made available for technology-driven private sector initiatives,” she said. She also highlighted that Pakistan has approved a national AI policy to facilitate patenting of AI products, and that data centers and cloud infrastructure are available locally. The government is establishing Centres of Excellence at universities to train IT professionals, she added.
During the ceremony, Edge Co-Founder Iffi Wahla announced plans to scale up investment from $17 million to $50 million over the next eighteen months, providing employment for more than 1,000 people in Pakistan.
Edge CEO Iffi Wahla said the company will provide more than 1,000 jobs in the next 18 months, with a minimum salary benchmark of Rs350,000. He described Rinova AI as an advanced tool to grow the medical billing industry. RCM Matter CEO Mudassar Hanif said the partnership represents a positive step for growth in the healthcare sector and will create 1,000 jobs in the coming months.
It is unusual for a senior figure at the Bank to be so forthright on market movements.
Source link
Consumer confidence has fallen for the third consecutive month amid household “jitters” over rapid price rises, figures show.
GfK’s long-running consumer confidence index fell four points to minus 25 in April, following falls of two points and three points in March and February respectively.
The deepening concern was driven by perceptions of the UK economy, with a six-point slide in confidence for the next 12 months to minus 43, its lowest level since February 2023.
Confidence in personal finances over the coming year fell five points to minus four – one point lower than this time last year.
The major purchase index – an indicator of confidence in buying big ticket items – held steady, albeit at minus 18 but one point better than last April.
The only measure to improve was the savings index – often an indication that households are concerned about their finances and looking to build contingency funds – which is up five points to 32.
Neil Bellamy, consumer insights director at GfK, said: “Consumers really do have the jitters now.
“It is a year since we last saw a monthly drop of this size, and we have to go back to October 2023 to find the last time consumer confidence was lower.
“Everyone is grappling with rapid price rises, especially at the fuel pumps, which are taking a dent out of household budgets, and people know further price hikes are coming.
“Consumer confidence is deteriorating sharply, with fuel prices and threats of more energy price increases acting as constant reminders of inflation.
“While the Gulf crisis is intensifying pressures, much of the current strain reflects earlier domestic cost increases.
“How long can all this disruption and pain continue?”
People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
Rams make surprise first-round move, take Alabama QB Ty Simpson
Luke Grimes shares what disappoints ‘Yellowstone’ fans the most
US Special Forces Soldier Arrested for Polymarket Bets on Maduro Raid
-
Fashion1 week agoFrance’s LVMH Q1 revenue falls 6%, shows resilience amid Iran war
-
Entertainment1 week agoIs Claude down? Here’s why users are seeing errors
-
Sports1 week agoPSL 11: Peshawar Zalmi win toss, opt to field first against Quetta Gladiators
-
Tech1 week agoThe Deepfake Nudes Crisis in Schools Is Much Worse Than You Thought
-
Business1 week agoStandard Life buys rival in £2b deal to create savings giant
-
Tech1 week agoCYBERUK ’26: UK lagging on legal protections for cyber pros | Computer Weekly
-
Fashion1 week agoRaymond unveils luxury Chairman’s Collection Store in Mumbai
-
Business1 week agoPepsiCo earnings beat estimates as North American food business improves