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Fresh record for YANGWANG U9 Xtreme: now the fastest electric hypercar at the Nordschleife

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YANGWANG U9 Xtreme electric
The YANGWANG U9 Xtreme is already the fastest electric car on the planet – and now the performance flagship of BYD’s luxury sub-brand has set another benchmark. Just one month after posting a world-record high speed of 496.22km/h at ATP Papenburg, YANGWANG is proud to announce that the U9 Xtreme has achieved a new lap record for Electric Super Sports Cars around the Nürburgring, the ‘Green Hell’ of motorsport.

YANGWANG’s engineering team has been conducting long-term testing at the 20.832km Nürburgring Nordschleife circuit since July 2024 – and the extensive on-track data gleaned from this process had been fed into the development of the U9 Xtreme. YANGWANG can now confirm that on 22 August 2025, the U9X lapped the Nürburgring in 6m59.157sec – slicing more than five seconds off the previous record time in the Electric Super Sports Cars class and becoming the first such vehicle to dip under the seven-minute barrier.

BYD Executive Vice President Stella Li said: “We are dedicated to pushing the limits of what can be achieved through technology, and the Nürburgring is such a legendary challenge for cars and drivers that it is only natural for our engineers to pursue their dreams there. I congratulate the entire team on this phenomenal achievement. The limited-edition U9 Xtreme has proven that it is not only the world’s fastest car in a straight line, but also a vehicle with the performance and dynamic qualities necessary to break lap records on a circuit with a wide variety of corners.”

The driver for the record lap was Moritz Kranz, an experienced German racer who has notched up almost 10,000 laps of the ultra-challenging Nordschleife circuit during a career in GT competition. He said: “The Nürburgring Nordschleife is the most demanding track, and our lap time is a testament to the development skills of BYD and YANGWANG. Without their intense work to balance a high-powered EV platform with the difficult demands of the chassis set-up, this great lap time would not have been possible.”

The U9 Xtreme is built on the world’s first mass-produced all-domain 1200V ultra-high-voltage platform and equipped with four high-performance motors, each capable of 30,000rpm. The car delivers a total output of over 3,000PS, delivering a power-to-weight ratio of 1,217PS per tonne that sets new global benchmarks for performance.

Based on the same e⁴ Platform and DiSus-X intelligent body-control system as the current YANGWANG U9, the U9 Xtreme innovatively brings “body-attitude control” technology to track applications – balancing both top-speed and lap-time performance in a single vehicle.

To conquer the Nürburgring’s classic 20.832km circuit – known for its steep elevation changes and demanding corners – the U9 Xtreme features a completely redesigned cooling system, a new titanium-alloy carbon-ceramic braking system, and GitiSport e·GTR² PRO semi-slick tires, jointly developed with Giti. These upgrades enable the car to excel in not only the 496.22km/h top-speed challenge but also the Nürburgring’s “Green Hell” lap-time record attempt.

The U9 Xtreme is now being made available to customers, with a limited series production run of no more than 30 units. Its name is derived from the English word ‘Extreme’, meaning ‘limit’ and ‘ultimate’, with added emphasis on the ‘X’, which represents the unknown. These qualities fit perfectly with YANGWANG’s ethos of taking joy and delight from the act of exploration and the innovations that come through that process.

Europe’s July car sales rise most since April 2024, BYD ahead of Tesla

IPAK Group records 7-fold profit surge to PKR 704 million, consolidated sales up 33%, gross profit 73%, and EPS rises to PKR 1.14 in Q1 FY-2026

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IPAK Group

IPAK Group has delivered a strong performance for the first quarter ended 30 September 2025, demonstrating that its industry-leading production capacity is now fully translating into profitability and scale advantages.

Consolidated sales increased 33% year-on-year to PKR 10.19 billion, supported by stronger demand and higher capacity utilization across BoPP, CPP, and BoPET film lines. Gross profit rose 73% to PKR 1.76 billion, while operating profit surged 83% to PKR 1.43 billion, reflecting improved margins and disciplined cost control. Finance costs declined by 14% owing to better working capital management and lower borrowing rates.
IPAK Group’s exports surged 52% to PKR 2.427 billion (25% of total sales) from PKR 1.594 billion for the same period last year.

As a result, net profit soared sevenfold to PKR 704 million compared to PKR 91 million in the same period last year, translating into an earnings per share (EPS) of PKR 1.14, up from PKR 0.35 previously, a clear reflection of the Group’s growing operational leverage and financial strength.
On a standalone basis, IPAK’s net profit rose to PKR 183 million, up from PKR 20 million in Q1 FY2025, marking a more than nine-fold increase, while EPS is improved 8 times compared to same period last year.

Although sales stood at PKR 2.95 billion, compared to PKR 3.43 billion last year. The strong turnaround highlights IPAK’s success in optimizing domestic operations and enhancing product mix quality.

“Our capacity leadership is now clearly visible in our numbers,” said the Group Chief Executive. “The synergy of efficiency, scale, and exports is driving sustainable earnings growth across all entities.”

Building on FY2025’s record performance, IPAK Group remains focused on deepening its export reach, maximizing utilization, and driving innovation in high-value specialty films, reaffirming its position as the regional leader in specialized flexible packaging films.

IPAK Group reports 12 times increase in EPS to Rs1.72 for FY 2025!

Latest version of Azentio’s iMAL achieves exclusive AAOIFI certification for 16th consecutive year; reinforces its position as world’s leading Islamic core banking platform

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Azentio AAOIFI

Azentio Software (“Azentio”), a leading technology enabler in the BFSI (Banking, Financial Services and Insurance) space, today announced that the latest version of its flagship Islamic core banking platform, iMAL, has once again received full certification for 2025 from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the globally recognized standard-setting body for Islamic finance.

This marks the 16th consecutive year that iMAL has achieved AAOIFI certification, making it the only Islamic banking software in the world to be fully certified, not merely compliant – a distinction that underscores its unmatched position in the global Islamic finance ecosystem.

“We are pleased to conclude the review of the latest version of iMAL for the year 2025,” said Omar Mustafa Ansari, Secretary General of AAOIFI. The iMAL’s proactive approach to compliance with AAOIFI’s Shari’ah and Financial Accounting Standards, including upcoming FAS 44, 45, 46, and 47, demonstrates its commitment to providing the best Shari’ah-compliant solution for customers, thereby enhancing the credibility and trust in the Islamic finance industry. Our partnership with Azentio is a vital pillar in advancing the global Islamic finance industry.”

Built specifically for Islamic financial institutions, iMAL is trusted by leading banks across the Middle East, Africa and Asia to support Shari’ah-compliant operations from end to end, including customer onboarding, product structuring, accounting and reporting.

The latest release of iMAL also includes the new Musaqat product, which has received full Shari’ah certification. Tailored for the Islamic finance sector to meet the needs of the irrigation industry, the product comes pre-configured with Shari’ah-compliant structures, reducing the need for extensive customization and enabling banks to launch rapidly while ensuring full compliance.
This release is fully aligned with the latest AAOIFI Shari’ah and Financial Accounting Standards, ensuring institutions can confidently launch innovative products without compromising on compliance.

Khaled Berjawi, Senior Vice President Product Management for iMAL at Azentio, commented: “In a market where trust and compliance are everything, iMAL stands alone. Our continued AAOIFI certification, uninterrupted for 16 years, is more than a regulatory milestone. It reflects our deep commitment to empowering Islamic financial institutions with cutting-edge technology that is rigorously, verifiably Shari’ah-compliant. No other platform can make that claim. We are proud to be at the forefront of Islamic fintech, helping our clients deliver modern, compliant services that scale with demand.”

Azentio’s in-house Shariah Compliance Team continuously tracks updates to AAOIFI standards and exposure drafts, ensuring iMAL evolves in lockstep with regulatory shifts and emerging market needs. For customers, this means future-ready infrastructure backed by a proven, certified track record.

About Azentio

Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success.

Aga Khan University Launches Landmark Campus in Uganda, Marking Its Largest Expansion Since 1983

OICCI members contribute Rs2.7 trillion taxes during 2024

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OICCI Perception Survey

The Overseas Investors Chamber of Commerce and Industry (OICCI), representing over 200 of Pakistan’s leading foreign investors, has issued its annual contribution report for 2024, showing healthy growth and sustained economic impact of the OICCI members’ contribution during the past year. Despite the challenging macroeconomic conditions, OICCI members continued to demonstrate resilience and long-term confidence in Pakistan’s market, recording substantial contributions across all key financial indicators.

OICCI member companies, during 2024 fiscal year, achieved a profit before tax (PBT) of Rs1.2 trillion, reflecting a robust average growth of 34 percent (2020–2024) in PKR terms. The aggregate turnover exceeded Rs11 trillion, with members contributing Rs2.7 trillion, almost Rs10 billion on daily basis, in government levies, equivalent to 30 percent of the FBR’s total tax collections. The total assets held by OICCI members stood at Rs34 trillion, while capital expenditure (CAPEX) reached over Rs470 billion during the same period.

Over the past decade, foreign investors operating in Pakistan, particularly the members of OICCI have shown greater sustained confidence than new or potential investors. Between FY2015 and FY2024, OICCI members’ cumulative capital investment stood at USD 22.9 billion, exceeding Pakistan’s total net foreign direct investment (FDI) inflows of USD 22.1 billion during the same period. This consistent reinvestment highlights the trust that established foreign companies place on the country’s long-term economic potential.

Sector-wise, the Oil & Gas, Banking, Telecommunications, and Chemical industries remained key contributors, accounting for the majority of turnover, assets, and taxes. The Banking and Finance sector alone represented 73 percent of total member assets, reflecting both profitability and expansion across financial services.

Commenting on the findings, Secretary General OICCI M. Abdul Aleem, stated: “The continued performance of OICCI members, who come from 30 countries and operate in 13 key sectors, is a testament to their deep-rooted commitment to Pakistan’s progress.

Even in the face of global volatility and domestic challenges, OICCI members have not only sustained but expanded their investments, creating jobs, paying significant taxes, and driving innovation across industries. As the first port of call for foreign investors in Pakistan, OICCI will continue to advocate for policy reforms that unlock greater potential, attract new FDI, and ensure sustainable economic growth.”

With representation from over 30 countries across 13 diverse sectors, OICCI member companies are among the largest contributors to Pakistan’s exchequer, infrastructure development, and export competitiveness.

OICCI urges urgent climate financing to secure Pakistan’s future at the launch of its 3rd PCC Report

MG Pakistan Celebrates 5 Years of Setting Standards in Pakistan

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MG Pakistan proudly marks its fifth anniversary, celebrating 5 years of redefining automotive excellence and customer experience in Pakistan.

To commemorate this milestone, MG Pakistan has launched its “5 Years of Setting Standards” campaign — a celebration of the brand’s journey and the strong community it has built over the years. As part of this celebration, MG is extending exclusive limited-time offers for its clients, including five years of free periodic maintenance (valued up to PKR 800,000) and 0% markup with interest-free financing on the Pakistan’s first locally assembled PHEV True Hybrid Electric.

“Completing five successful years in Pakistan is a proud moment for us. MG has grown from a global brand to a household trusted name that represents quality, innovation, and sustainability. This celebration is dedicated to our customers, whose trust and loyalty have driven our success. We look forward to continuing this journey by delivering cutting-edge mobility solutions and exceptional service in the years to come.

Over the past five years, MG Pakistan has introduced a range of vehicles combining advanced technology, comfort, and design excellence — including hybrid and electric models that align with the country’s vision for sustainable transportation. As part of a globally renowned automotive brand with a rich British legacy and presence in over 100 countries, MG has played a pivotal role in transforming Pakistan’s automotive landscape. The company has consistently led innovation — being the first to introduce Plug-in Hybrid and Electric Vehicles, ADAS (Advanced Driver Assistance Systems) safety features, six airbags, a 360-degree camera, adaptive cruise control, and ambient lighting. These industry-first innovations have made MG a trailblazer in zero-emission technology, safety, and comfort, solidifying its position as one of Pakistan’s most progressive and customer-focused automobile brands.

Follow News Plus for latest news happening in World & Pakistan.

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BF Biosciences Launches Zeptide (Tirzepatide) in Pakistan — A Major Step in Diabetes and Obesity Care

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BF Biosciences Limited, Pakistan’s pioneering biopharmaceutical manufacturer, has announced the successful launch of its latest innovation, Zeptide® (Tirzepatide) — an advanced treatment for Type 2 Diabetes and Obesity, now available in a convenient, pre-filled syringe format.

In a notice sent to PSX today, BFBIO says that Tirzepatide, approved by the US Food and Drug Administration (FDA), is a synthetic polypeptide that acts as a dual agonist for GLP-1 and GIP receptors, offering a breakthrough approach in managing blood glucose levels and promoting weight reduction.

The new Zeptide® pre-filled syringe, developed and produced at BF Biosciences’ state-of-the-art European technology-based facility, ensures precision, safety, and ease of use, eliminating dosing errors and improving patient compliance.

“With Zeptide, we are proud to bring a world-class therapeutic option to Pakistani patients,” said a company spokesperson. “This innovation reinforces our commitment to developing essential, locally manufactured biologics that meet international quality standards.”

Zeptide has undergone rigorous testing for quality, structure, and potency at a leading biological mass spectrometry facility in the United States and at a national university in Pakistan, ensuring global-level validation. The development of Zeptide is a significant milestone achieved through the company’s IPO proceeds utilization plan, demonstrating BF Biosciences’ dedication to reinvesting in Pakistan’s healthcare ecosystem.

With Pakistan ranking among the highest globally in diabetes prevalence, the need for accessible and effective treatment options is urgent. Over 9 million Pakistanis remain undiagnosed, while 57% of women and 41% of men are overweight or obese, increasing their risk of Type 2 diabetes by up to seven times. It is pertinent to mention that BF Biosciences Limited is already leading the GLP1 generic of semaglutide through its brand Sematide and is most prescribed GLP1 in the market.

As the 1st Biopharmaceutical Plant in Pakistan, BF Biosciences Limited has remained committed to the production of essential medicines for the treatment of HCV, Cancer, Cardiology, Diabetes, nephrology and other therapeutic areas for over a decade. We are confident that the launch of Zeptide® will have a positive impact on the Company’s growth and will further strengthen our mission to address critical, unmet patient needs, the notice further added.

BF Biosciences IPO Receives Overwhelming Response from Investors!

The Urban Pickup is Here: JAC T9 Frison RWD Breaks the PKR 10 Million Barrier to Challenge Sedans and Compact Crossover SUVs

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JAC T9 Frison

JAC Motors Pakistan, in strategic partnership with Ghandhara Automobiles, today announced a massive repositioning in the country’s auto sector with the launch of the two-wheel-drive (RWD) variant of the JAC T9 Frison. Priced exceptionally at PKR 8,775,000, the T9 Frison RWD is now the most affordable double cabin pickup in the Pakistani market, threatening to draw a new segment of buyers away from traditional sedans and modern Compact Crossover SUVs (C-SUVs).

For decades, the double cabin segment—dominated by established players like Toyota and Isuzu—has been an expensive, specialized niche, with entry-level prices for models like the Hilux Revo and D-Max starting well over PKR 10 million. The T9 Frison RWD, priced PKR 2 million to PKR 3.5 million below its direct competitors, signals a new era of accessibility, mirroring the disruption brought by new entrants like Hyundai and Kia in other segments of the local auto industry.

“This is a statement of intent from Ghandhara Automobiles Ltd. We are delivering a clear message to Pakistani consumers: You no longer have to pay a massive premium to own a high-spec, high-power pickup truck,” said Zain Afzal, General Manager – Marketing & Sales at JAC Motors Pakistan. “For the average Pakistani who drives primarily in the city or on highways, 4×4 capability is an expensive feature they don’t need. Our T9 RWD variant is ideally for the urban user who wants the presence and ruggedness of a double cabin, the power of a 2.0L Turbo Charged Engine, and segment-exclusive luxury features like the 360-degree camera and sunroof, all at the price point of a high-end sedan or a Compact Crossover SUV. This is a game-changer.”

The launch of the JAC T9 Frison RWD is a crucial moment for the Pakistani auto industry, guaranteeing that power, technology, and quality are now within reach of a much wider demographic seeking a vehicle with unmatched road presence.

About JAC Motors Pakistan & Ghandhara Automobiles:

Anhui Jianghuai Automobile Group Co., Ltd. (JAC Motors) is a global automotive group. Ghandhara Automobiles is a leading and respected name in Pakistan’s auto industry, serving as the official distributor and assembly partner for JAC Motors, committed to bringing high-quality, high-value vehicles to the Pakistani consumer.

BYD Pakistan Introduces Test Drives Experience for Seal and Atto 3

MG Rewards Customer Loyalty with Exciting Lucky Draw Campaign

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Lucky Draw

Reaffirming its promise of trust, innovation, and customer care, MG Pakistan — the pioneer of Pakistan’s first plug-in hybrid vehicle — concluded its September Full Payment Lucky Draw Campaign, a celebration of loyalty and timely commitment by MG customers.

The campaign received an overwhelming response, reflecting strong customer confidence in MG’s brand promise. Through this initiative, MG rewarded its valued customers who completed full payment invoicing in September with exciting prizes, including:

  • 3 winners who received 50% cashback
  • 10 winners who enjoyed free registration
  • 10 winners who secured MG Shield Insurance at an exclusive 1.55% rate
  • 20 winners who benefited from free periodic maintenance for their MG vehicles

Read More: World’s No.1 PHEV Brand, BYD, Brings Game-Changing Technology to Pakistan

The lucky winners of 50% cashback are:

  • Abid Ahmed Shaikh – MG Center
  • Hazrat Hussain – MG Khyber
  • Nadeem Irfan Bukhari – MG Lounge

The event stood as a testament to MG’s dedication to going beyond the sale — ensuring customer satisfaction, peace of mind, and lasting value.

“At MG, we believe that keeping our promises builds the foundation of trust,” said Sidra Umar, Head of Marketing, MG Pakistan. “This campaign was designed to appreciate our customers’ continued faith in the brand and to reaffirm our long-term commitment to them.”

As MG continues to strengthen its presence in Pakistan’s automotive landscape, initiatives like the Lucky Draw Campaign highlight the brand’s philosophy — “MG keeping its promise, always.” With the success of Pakistan’s first plug-in hybrid vehicle and continued customer-centric initiatives, MG remains committed to leading the country’s journey toward a more innovative and sustainable automotive future.

Lucky Investments Wins “Emerging Islamic Finance Entity of the Year” at the 10th IFFSA Conference & Awards 2025

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Lucky Investments IFFSA

Lucky Investments Limited (“Lucky Investments”) has been recognized as the Emerging Islamic Finance Entity of the Year in South Asia at the 10th Islamic Finance Forum of South Asia (IFFSA) Conference & Awards 2025, held in Colombo, Sri Lanka. The award is testament to stellar performance of Lucky Investments since launch of its first fund in April 2025. The AUMs currently stand at over Rs.100 billion (USD 350 million) making Lucky the fastest growing AMC in Pakistan this year.

The prestigious award was received by Mohammad Shoaib, CFA, CEO of Lucky Investments, at a ceremony attended by leading policymakers, regulators, and industry leaders from various countries in South Asia including Bangladesh, Sri Lanka, India, Pakistan, Maldives and other neighboring countries.

The IFFSA Conference brought together high-profile leaders of Islamic finance to reflect on a decade of growth and innovation, while exploring the future of the industry. As part of the event, Mr. Shoaib participated as a panelist in the Islamic Capital Markets session, where he highlighted the strong momentum of Pakistan’s Islamic Asset Management industry in which he carries three decades of experience as CEO of Islamic AMCs. Mr. Shoaib was specifically requested to share the factors leading to penetration of Islamic AMCs in Pakistan over last two decades so that other South Asian markets can learn from his vast experience in the sector.

The Islamic Finance Forum of South Asia (IFFSA) has, for the past decade, recognized excellence in Islamic finance by celebrating organizations and leaders advancing the cause of Riba-free financial solutions across the Subcontinent.

Lucky Investments Limited is a subsidiary of YB Pakistan Limited, marking the YB Group’s strategic entry into the Islamic capital markets on December 13, 2024—its first venture into financial services.

Led by Mohammad Shoaib, CFA—a pioneer of Pakistan’s Islamic asset management industry with over three decades of experience—the Company is committed to delivering ethical, innovative, and sustainable Shariah-compliant investment solutions. Mufti Muhammad Hassaan Kaleem, a renowned Shariah scholar, serves as the Company’s Shariah Advisor.

Lucky Investments’ vision is to be the premier choice for Shariah-compliant investments, fostering sustainable growth with integrity, innovation, and investor trust.

LUCKY INVESTMENTS LIMITED BREAK RECORDS WITH PAKISTAN’S LARGEST EVER IPO BY RAISING OVER PKR 50 BILLION

Lucky Cement Shortlists 74 Students for IT Skills Development Program to Empower Local Youth

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Lucky Cement IT

Lucky Cement, in collaboration with Saylani Mass IT Training (SMIT), successfully conducted the test for its IT Skills Development Program at the Lucky Cement Pezu Plant, marking a significant step toward empowering local youth with modern IT skills.

Over 1,000 students from the region appeared for the test, showcasing strong enthusiasm and commitment to enhancing their technical capabilities. Following a rigorous evaluation process, 74 students were shortlisted for the IT Skills Development Program, including 22 students for Graphic Design and 52 students for Web Development, moving them closer to acquiring industry-relevant skills and knowledge.

This initiative highlights Lucky Cement’s continued commitment to community development and youth empowerment, providing opportunities for young talent to build valuable skills and prepare for future career prospects in the technology sector.

Over 500 Patients Benefited from Kidney Screening Camp Organized by Lucky Cement and Tabba Kidney Institute

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