By: Mushtaq Rajpar
Excerpt: it is the MQM’s own politics and the use of other non-political means to maintain its hegemony on the city that have caused the party’s decline. An open political competition without an environment of fear – the fear of being kidnapped and killed – will definitely produce different results. If this had not been the case, why were violent means used against opponents? …
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China’s biggest e-commerce company, Alibaba Group, broke into the Pakistani market on Tuesday by fully acquiring the Daraz Group.
“With the acquisition, Daraz will be able to leverage Alibaba’s leadership and experience in technology, online commerce, mobile payment and logistics to drive further growth in the five South Asian markets that have a combined population of over 460 million, 60% of which are under the age of 35,” said a press release issued by Daraz.
Founded in Pakistan in 2012, Daraz has since expanded in Bangladesh, Myanmar, Sri Lanka and Nepal. It will continue to operate under the same brand, said the press release.
Hailing the move, Daraz Co-CEOs Bjarke Mikkelsen and Jonathan Doerr said that there is still a long way to go on the e-commerce journey. “We have still only scratched the surface of the potential,” they said.
Read more >> DAWN