Tag Archives: lucrative

MIT recognises Pakistani as one of world’s brilliant minds

KARACHI: All our dreams can come true, if we have the courage to pursue them, says Walt Disney.

Disney’s quote, perhaps, best explains the success story of Farhan Masood, who has been recognised as one of the world’s brilliant minds by Massachusetts Institute of Technology earlier this year for his product – world’s fastest retina and face scanner algorithm called SmartXS.

Masood’s dream – to build a Pakistani product and turn it into a global one – came true this year after he won the MIT Business Acceleration Plan contest, a highly competitive annual event whose objective is to help Pakistani IT, ITES, telecom and new media companies improve their business.

Of the 165 participants that compete in this contest, some members of top teams also get a chance to attend an entrepreneurship development programme at MIT in Cambridge, USA.

After a winning performance in the contest, Masood joined the list of MIT alumni. He has just returned after attending a course at MIT, one of the world’s best educational institutes. Those who attended this programme previously had benefited a great deal.

According to Pakistan Software Export Board’s website, some of the companies that participated in this programme saw their revenues grow by 5 to 10 times and valuation increase by 15 times. Giving the example of Sofizar, the PSEB’s website stated that the company’s revenue increased from less than $1 million to $30 million in two and a half years.

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Taliban are generating funds through bank robberies, protection rackets and kidnappings – BBC

Taliban’s brisk trade of kidnapping in Karachi

In Pakistan’s largest city, Karachi, police say the Taliban are generating funds through bank robberies, protection rackets and kidnappings.

Abductions are particularly lucrative, with ransom demands sometimes running to millions of dollars. The BBC’s Orla Guerin reports on how the militants are making inroads in Pakistan’s financial capital.

When the doctor had a gun put to his head by a man on motorbike in the evening traffic last month, he thought it was a robbery. He readily handed over his mobile phone and his wallet.

But when he was forced from his car, he realised that he was the prize. A routine journey to his clinic ended with imprisonment in a Taliban hideout.

“They blindfolded me and tied my hands behind my back. I was kept in a small space, with a low roof, but they gave me food and a pillow to rest on,” said the softly spoken father of four. For security reasons, we are not revealing his identity. ….

Read more » BBC