News and Updates

Carrefour, Daraz sign partnership agreement

Dec 17, 2019

Dubai based Majid Al Futtaim, a leading shopping mall, retail and leisure business has signed a partnership agreement with Daraz, a Chinese-owned online marketplace and logistics company operating in South Asian markets. Daraz is a leading online marketplace in Pakistan, enabling tens of thousands of sellers to connect with millions of customers, having more than 5 million monthly users.

A separate section has been added on Daraz to shop Carrefour products online.

The Chinese Alibaba Group acquires 45% stakes in Telenor Microfinance Bank (TMB)

March 13, 2018

Ant Financial, the highest valued FinTech company in the world reach a partnership agreement with TMB for an investment of $184.5 m. TMB is best known for launching Easypaisa, Pakistan's first mobile financial services platform, the largest branchless banking service in Pakistan.

Waves - Singer merger

Nov 28, 2017

Cool Industries (Pvt.) Ltd., manufacturer of famous home appliances brand Waves, merges with Singer Pakistan Ltd., which has the largest retail network in South Asia, with over 750 stores.

Turkish company acquires Dawlance

Nov 16, 2016

Arçelik buys Pakistan's home appliances brand Dawlance for $243 million. Arçelik A.Ş. is active in more than 100 countries including China and the United States through its 13 international subsidiaries and over 4,500 branches in Turkey. The company operates 15 production plants in Turkey, Romania, Russia, China, South Africa and Thailand.