Pakistani tech firm makes Forbes 'Asia’s Best Under A Billion' list for third time

This undated file photo shows Systems Limited premises. (Photo courtesy: @Pakistanomy/Twitter)
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Updated 22 August 2022
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Pakistani tech firm makes Forbes 'Asia’s Best Under A Billion' list for third time

  • Each year, Forbes releases its list of top 200 mid-sized businesses in the Asia-Pacific area
  • Pakistan's Highnoon Laboratories on list, 24 Indian companies make it to list this year

ISLAMABAD: Pakistani company Systems Limited, which develops software and provides business process outsourcing services, has made it to the ‘Forbes Asia’s Best Under A Billion’ for the third time in a row.

Each year, Forbes releases its list of top 200 mid-sized businesses in the Asia-Pacific region. This year’s list includes 75 returnees from the prior year, reflecting their resiliency in a fast-changing environment.

“As Covid-19 restrictions ease across the Asia-Pacific and people adapt to the new normal, this year’s annual Best Under A Billion list highlights the shift to discretionary spending,” Forbes said on its website. “While healthcare and pharmaceutical-related companies were standouts last year, the post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others.”

Forbes said Systems Limited had clients in North America, Europe and the Middle East that operated in the telecom, retail, pharmaceutical and finance industries. Founded in 1977, the company is based in Lahore, Pakistan.

“Systems Limited has created a thriving ecosystem that consistently meets outstanding performance metrics. It gives me immense pleasure that Systems Limited is the only IT company hailing from Pakistan that has been recognised by Forbes Asia as Best Under A Billion company three times, consecutively,” CEO Asif Peer said. 

“This great honour is monumental to Systems Limited’s sustainability and consistent growth in all the verticals and segments in which we are excelling.”

Previously, Systems Limited has won the 2021 Poll of Asia’s Outstanding Companies by Asia Money in two categories. The company also holds the title of Pakistan’s top IT exporter and has been awarded the prestigious Microsoft Inner Circle for Business Applications 2021/2022 and 2022/2023 memberships.

Another company which has made the list is Highnoon Laboratories, which manufactures, markets and distributes drugs and other healthcare products, primarily in Pakistan. It specializes in drugs related to cardiology, diabetes, gastroenterology and respiratory disease. The company was founded in 1984 and is headquartered in Lahore.

The number of Indian businesses that made the "Best Under A Billion" list this year was 24, down from 26 in 2021.

In terms of Asian nations, this put India in fourth place, one spot ahead of China, which had 22 enterprises on the list. With 30, Taiwan has the most publicly traded companies, followed by Japan with 29 and South Korea with 27.


India’s Bollywood bets big on ‘event cinema’

Updated 25 January 2026
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India’s Bollywood bets big on ‘event cinema’

  • Films centered on geopolitical conflict, internal enemies, masculinity now dominate mainstream Hindi cinema
  • Critics argue Bollywood is using cinema’s unrivalled mass reach to shape the public sentiment in India 

MUMBAI: India’s Bollywood is moving decisively toward a cinema of scale and confrontation — where patriotism, spectacle, and ideological clarity increasingly trump nuance and narrative risk, industry insiders say.

The shift has fueled what experts describe as “event cinema,” as studios rely on big-budget spectacles and top-tier stars to lure audiences — especially smartphone-loving Gen Z viewers — back into theaters.

That strategy appears to be working. Akshaye Rathi, a prominent film exhibitor, predicted a 45-50 percent rise in net Hindi box-office collections and a 25 percent increase in young theater-goers this year.

“The year looks poised for historic numbers,” Rathi told AFP.

The industry’s financial model was shaken during the Covid-19 pandemic, which coincided with the rapid rise of streaming platforms and a shift to home viewing.

But its 2026 upcoming slate, packed with patriotic war dramas, spy thrillers, mythological epics and nationalist narratives — reflects not just a commercial recalibration, analysts say, but a broader change in creative priorities.

‘PROPAGANDA’

Critics argue Bollywood is increasingly producing polarizing films aligned with the ideology of Prime Minister Narendra Modi’s Hindu-nationalist government, using cinema’s unrivalled mass reach to shape public sentiment.

“These days film themes also depend upon who is ruling at the center — Hindu wave, propaganda... all these are big factors that filmmakers cash in on,” said movie business analyst Atul Mohan, editor of film trade magazine Complete Cinema. “But only one or two films work, not all 10 or 15.”

He cited the success of 2022 blockbuster “The Kashmir Files,” depicting in harrowing detail how several hundred thousand Hindus fled Muslim militants in Indian-administered Kashmir in 1989-90.

And he compared that with the 2025 film “The Bengal Files,” on alleged political violence in eastern India, which he described as a commercial “disaster.”

Films centered on geopolitical conflict, internal enemies, and heroic masculinity now dominate mainstream Hindi cinema, reflecting both the political mood and the economics of theatrical survival.

Last year’s gory action thriller “Dhurandhar,” meaning “formidable,” leaned heavily on hyper-nationalist tropes of Indian agents confronting Pakistan-linked foes, and became one of 2025’s highest-grossing films — following a real-life four-day border clash with Pakistan.

Its sequel, “Dhurandhar 2,” again starring Ranveer Singh, is set for release in March.

‘GRATUITIOUS VIOLENCE’

Veteran Delhi-based film critic Arnab Banerjee said political messaging now outweighs craftsmanship.

“It is not the quality of the film that matters today, it is propaganda films that are working,” said Banerjee.

“The mood of the nation is such that people are lapping up these subjects. Pakistan-bashing and references to enemy countries are being accepted without questioning.”

Banerjee also criticized what he called an excess of “gratuitous violence,” arguing that “it is social media hype that is deciding the film’s fate.”

He pointed to “Ikkis,” a film on the 1971 India-Pakistan war released in January, which struggled commercially despite positive reviews.

“It is a well-made film, but it didn’t work,” he said. “Perhaps because Pakistan is not shown as the enemy.”

Director Ahmed Khan, however, said quality still ultimately determines success, citing his upcoming action-comedy “Welcome to the Jungle,” starring Akshay Kumar.

“Whatever the genre — action, drama, comedy or horror — it depends on how well you’ve made it,” Khan said.

He pointed to the 2025 successes of the contrasting romantic drama “Saiyaara” as well as high-octane “Dhurandhar.”

“Both, poles apart in genre, did great business,” he said. “People’s mood can change any time.”