logo
Luxury automaker reveals new model, Ferrari Amalfi

Luxury automaker reveals new model, Ferrari Amalfi

Luxury Italian automaker announces a new model, the Ferrari Amalfi, set to go on sale next year, in a press release issued this week.
The new V8 2+ coupé is set to replace the Ferrari Roma, and is promising a sporty and sophisticated aesthetic.
Prices will begin at about $250,000 and will boast a formidable 640 horsepower and a top speed of 320 km/h.
In Pakistan, the import of luxury vehicles is heavily impacted by high duties and taxes, as well as restrictions on used car imports. While completely built unit (CBU) imports face duties potentially up to 200%, used car imports are generally banned, with exceptions like the gift scheme which has fixed duties based on engine capacity.
Pakistan is also looking at the rise of Electric Vehicles (EVs), with the government setting ambitious targets, such as 30% of new vehicle sales being electric by 2030.
However, infrastructure limitations and high initial costs remain significant hurdles. Despite these challenges, there's a noticeable increase in EV models available, particularly from Chinese manufacturers such as BYD and growing public interest.
The Amalfi is set to positions itself competitively against models like the Porsche 911 Carrera GTS and Aston Martin DB12. Its pricing, combined with elegant design is aimed at attracting first-time buyers.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Chip design software firms climb as US lifts curbs on China exports
Chip design software firms climb as US lifts curbs on China exports

Business Recorder

timean hour ago

  • Business Recorder

Chip design software firms climb as US lifts curbs on China exports

Shares of Synopsys and Cadence Design Systems jumped on Thursday after the U.S. lifted export curbs on chip design software to China, easing uncertainty around access to the crucial market. The restrictions, announced in late May, had essentially cut off the market that brings over 10% of revenue for the industry's major players, hitting forecasts and knocking down shares. The export resumption means both the companies will only lose one month of revenue in the current quarter, Mizuho analysts said. The easing trade tensions may also clear the path for long-awaited Chinese approval of Synopsys's $35 billion buyout of engineering software firm Ansys, the analysts added. Synopsys, which had pulled its forecast in May due to the curbs, rose 5.5%. The company said on Wednesday it is still assessing the impact of export restrictions on China on its financials. Cadence gained 6.1% and hit a record high of $330.09, while Ansys rose about 3.5%. Germany's Siemens , the third major player in the electronic design automation tools sector, was up 1.5% in Frankfurt. Wall St recovers with help from Nvidia, Tesla 'This marks a distinct warming of relations and a small ceasefire in the chips war,' said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Still, she cautioned that the move did not signal a broader shift on high-end chip exports from companies such as Nvidia. 'The US will remain concerned about the technological prowess China has developed, and its use of US intellectual property.' Successive U.S. administrations have sought to restrict China's access to advanced American chip technology, citing concerns that it could be used to strengthen Beijing's military. But the export curbs have also fueled a surge in domestic chip design activity in China, aided by generous state subsidies. They have also stoked fears of retaliation, with analysts warning that Beijing could delay or block approval of the Synopsys-Ansys deal in response. The deal, which has received merger clearance in every jurisdiction other than China according to the companies, carries a deadline of July 15 for its closure with an option to extend until January next year.

TSX hits record high as investors assess economic data, trade talks
TSX hits record high as investors assess economic data, trade talks

Business Recorder

timean hour ago

  • Business Recorder

TSX hits record high as investors assess economic data, trade talks

Canada's main stock index hit a record high on Thursday as investors assessed economic data from Canada and the United States, while a U.S.-Vietnam trade pact renewed optimism about global trade agreements ahead of the July 9 tariff deadline. The S&P/TSX composite index gained 0.3% at 26,952.6 points. Data showed that Canada's trade deficit in May was as expected and narrowed after April's record-breaking numbers as total exports rose, and imports fell. Exports and imports to the U.S. dropped to their lowest levels in May, excluding the pandemic year of 2020. Meanwhile, U.S. President Donald Trump signed a trade deal with Vietnam on Wednesday. 'It looks as if we're moving towards more certainty with respect to the tariff situation…as we get closer to an outcome that's so positive, the markets begin to get a little bit excited,' said Robert Gill, portfolio manager at Fairbank Investment Management. On the TSX, technology stocks led sectoral gains with a 1.4% rise. Cybersecurity firm BlackBerry rose 3.3%. Conversely, an index of communication stocks fell about 1%. Energy stocks fell 0.5% tracking a decline in oil prices. Nuvista Energy fell 3.2% after announcing updated annual production guidance due to third party midstream delays. Mining shares edged 0.2% lower, tracking a fall in gold and copper prices. Copper miners Capstone Copper down 2.1%, Teck Resources down 2.3%, and Ero Copper down 2.7%, were among the bottom performers on the main index. Also supporting market sentiment was the Trump administration lifting export restrictions on Chinese-bound shipments from chip design software developers and ethane producers. In the U.S., data showed job growth was solid in June while the unemployment rate fell to 4.1%. Additionally, the U.S. House of Representatives advanced Trump's sweeping tax-cut and spending bill, paving the way for a possible vote on the legislation later in the day ahead of the July 4 holiday.

Pakistan set to partner with Alibaba to boost exports
Pakistan set to partner with Alibaba to boost exports

Business Recorder

time2 hours ago

  • Business Recorder

Pakistan set to partner with Alibaba to boost exports

Pakistan will formalise a strategic partnership with Chinese e-commerce giant Alibaba next week in a bid to boost exports through digital trade infrastructure. Faiz Ahmad Chadhar, Chief Executive of the Trade Development Authority of Pakistan (TDAP), revealed on the sidelines of the 18th International Conference on Mobile Commerce 2025 to Business Recorder that an agreement signing ceremony will take place on July 10 in Islamabad. 'We are partnering with Alibaba to revolutionise all Pakistani products that are discovered, sold and shifted across borders. It is one of the two global e-commerce giants including Amazon,' Chadhar said while addressing the one-day conference organised by Total Communications in Karachi. The collaboration aims to strengthen Pakistan's digital supply chain ecosystem and integrate it with secure and real-time payment systems such as Raast, Pakistan's instant payment platform operated by the State Bank of Pakistan (SBP). Pakistan's e-commerce sector faces operational costs surge amid new taxes 'Our vision is to create a single unified digital supply chain ecosystem, supported by secured and real-time digital payment solutions like Raast.' He painted a vivid picture of the envisioned system: 'Imagine a small business in Skardu receiving a bulk order from Alibaba. The payment arrives instantly into its mobile wallet via Raast. The same wallet is used to pay a supplier in Karachi on Raast. Inventory is hit, tracked, and restarted – without cash, without bank, and without barriers.' 'That is the power of digital commerce,' he added. 'That is the vision we are materializing right now. Raast makes this region not only possible but practical and scalable. This is not theoretical. It is actionable. This is the future we are building with your support.' Chadhar emphasised that both TDAP and the Ministry of Commerce are 'fully committed to driving this digital shift, not just as a policy priority, but as a national imperative.' At the same conference, Faisal Mahmood, Head of Digital Public Infrastructure at Karandaaz Pakistan, raised concerns about SBP's sandbox initiative. He questioned whether the central bank has the required funding, expertise, and technical support to effectively run pilot phases of digital projects. To recall, the SBP launched its sandbox guidelines around two months ago, in May 2025. Soon, it would invite all entities – whether regulated or unregulated – such as banks, fintechs, and startups, to test their digital business ideas and potential solutions in a controlled environment with relaxed regulations during the testing phase of the business ideas. Ali Imran Khan, Deputy CIO at Meezan Bank, underlined open banking as the future, enabling personalised solutions through consent-based data sharing. Mashreq Pakistan CEO Muhammad Hamayun Sajjad stressed that while cash has remained the 'king of the ring' digitalisation is now not an option but essential for growth.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store