Tag: ECOMMERCE
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Daraz Group to reduce 11% workforce in response to challenging market conditions
Daraz Group, an e-commerce subsidiary of Alibaba Group, will be reducing its workforce by 11 per cent in response to the challenging market conditions. The CEO, Bjarke Mikkelsen, noted the adverse impact of a war in Europe, significant supply chain disruptions, rising inflation, heightened taxes, and the elimination of crucial government subsidies on the company’s…
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Pakistan IT exports cross $1.5bn for the first time
The Pakistan Information Technology (IT) industry has experienced $1.5 billion in exports for the first time. In March, the industry received the highest export remittances of $213 million. According to data released by the State Bank of Pakistan (SBP, IT and IT-enabled services recorded a huge increase of $1.512 billion during the first nine months…