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PAGE STAFF GRIEVED

The management and staff of Economist Publications are sad to announce the demise of their circulation manager, Mr. Muhammad Bahadur.

Mr. Bahadur worked with the company for 35 years and was a well respected member of staff. His presence, professional diligence and wisdom will be missed by all.

He leaves behind a wife, a son and 5 daughters. We ask you to join us in prayers for the bereaved’s soul and for ease and tranquillity for those he has left behind.

Ameen.

Management and Staff

Economist Publications (Pvt) Ltd

VIPER TECHNOLOGY

BeaconHouse School System concluded its annual event ’School of Tomorrow’ this weekend at the Pak-China Friendship Centre, Islamabad. The event the med “A World of Tomorrow: Seeking Inspiration and Equilibrium in a New Age” was a two day event was held on 11-12 March 2017. The previous events of the series were recently held in Lahore in November 2016, and 2015 in Karachi.

Viper Technology Pvt. Ltd. powered all the technology at the event including registration and session flows, but most importantly, the FULL STEAM room; which was an exhibit of the ’Classroom of Tomorrow’. The dialogue on STEM education (Science, Technology, Engineering & Mathematics) has been around for a while, but using mathematics and science to solve real-world challenges and problems is an area still being explored.

Faisal Sheikh, Chief Operating Officer at Viper Technology commented on the occasion saying,

“Science, Technology, Engineering, Arts & Mathematics; has been gaining significant momentum, at least in dialogue. But what this event did, was bring these conversations to life, and the application of STEAM in reality. Viper Technology is proud to be associated with BeaconHouse as their technology provider. Viper has been providing back-end technical support to BeaconHouse School Systems for many years, and stays committed to the group’s progressive education philosophy.”

At the BeaconHouse School of Tomorrow Events, the best place to be at is the FULL STEAM room, where children as young as the age of four are equipped with gadgets, showcasing their engineering expertise, their projects, the creativity they can showcase through tablets and notebooks, and what not. From 3D printing to Augmented or Virtual Reality, this room genuinely is the hottest spot to be at, witnessing young brains and their ease with technology.

More than 40 sessions were carried out through the two days, with keynote speeches, panel discussions, debates, interactive workshops, and performances. These were spread across five main streams including A Digital Future, A Balanced Future, A Safer Future, An Expressive Future and An Inclusive Future.

The creativity that inspires beautiful works of art is the same creativity that has led to some of the world’s highest-performing, usable and visually appealing inventions. The technology we use today, exemplifies engineering and arts working together. No matter the type of collaboration, students benefit from sharing ideas across disciplines.

PAKISTAN’S LIQUID FOREIGN RESERVES POSITION

The total liquid foreign reserves held by the country stood at US$22,151.8 million on 03 March 2017.

The break-up of the foreign reserves position is as under:-

i) Foreign reserves held by the State Bank of Pakistan: US$17,139.7 million

ii) Net foreign reserves held by commercial banks: US$5,012.1 million

iii) Total liquid foreign reserves: US$22,151.8 million

During the week ending 03 March 2017, SBP’s reserves increased by US$289 million to US$17,140 million.

During the week SBP received US$350 million under Coalition Support Fund and made payments of US$62 million on account of external debt servicing.

OXFORD ORGANIZES ITS FIRST DIGITAL LEARNING ROADSHOW

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Oxford University Press (OUP) organized its first Digital Education Roadshow at the OUP head office. The event was held as part of OUP’s search for business partners who can provide cutting-edge solutions that contribute to OUP’s vision of enhancing learning through quality digital resources.

As education makes the leap into digital, OUP Pakistan is excited to be an active contributor to this transition. Traditionally a print giant, OUP has undertaken efforts for digital innovation and is now rolling out technology-based educational products and services. As a part of these efforts, OUP is seeking to collaborate with the Ed Tech industry players within Pakistan to build innovative digital learning solutions for both school and higher education markets.

The Digital Education Roadshow aimed to provide a platform to Ed Tech vendors within Pakistan to showcase their digital learning products and services and explore avenues of partnership for developing customized e-learning solutions for OUP. The event was open to technology companies, startups, and initiatives in Pakistan offering expertise in Ed Tech materials as well as graphic designers, animators, and game and video producers involved in developing engaging educational content. These Ed Tech specialists presented demonstrations of their range of e-learning resources and discussed possibilities of collaborative work to create unique and exciting solutions suited to OUP’s digital learning requirements.

In her welcome address, Ameena Saiyid, Managing Director, OUP, said that the publishing house is pursuing educational solutions in the digital landscape, because it recognizes the potential, reach, and impact that digital solutions can provide. “This is an exciting time in the EdTech landscape, particularly in Pakistan. We have the power to turn our students into critical thinkers and change a rote-based system into one where children explore and innovate. It is our responsibility to give our children the best possible resources to receive an education filled with inspiration and exploration,” she further added.

 

MCB AND TELENOR MICROFINANCE BANK PARTNER UP FOR EASYPAISA AGENT NETWORK

MCB Bank Limited, declared by Euromoney as “Pakistan’s Best Bank” for a record tenth time, has entered into an alliance with “Pakistan’s Best Microfinance Bank”, Telenor Microfinance Bank Limited (Formerly Tameer Microfinance Bank), for its safe, secure, convenient and accessible Easypaisa agent network and mutually beneficial financial services.

Under this agreement, MCB Bank, MCB Lite Branchless Banking customers will gain access to Telenor Microfinance Bank/Easypaisa’s diverse network of more than 75,000 agents nationwide. Now customers will be able to walk into any Easypaisa retail outlet and deposit funds into their MCB wallet and also withdraw cash from the retailer at their own convenience anywhere. This strategic alliance is in line with the State Bank of Pakistan’s National Financial Inclusion Strategy and Vision for 2020, to increase access and quality of financial services for the underserved segments of the economy.

The agreement was signed between President/CEO MCB Bank, Mr. Imran Maqbool and President/CEO Telenor Microfinance Bank, Mr. Ali Riaz Chaudhry, at the MCB House, Lahore. Mr. Irfan Wahab – CEO Telenor Pakistan, Mr. Yahya Khan – CDO/CFI Telenor Microfinance Bank, Mr. Faisal Ejaz Khan – CIO MCB Bank and Mr. Ali Naqvi – Business Head Digital Banking MCB, were also present at the ceremony, along with other senior executives from both organizations.

Speaking at the occasion, Mr. Imran Maqbool said “Branchless Banking is one of the fastest growing segments of MCB Bank’s portfolio and our partnership with Telenor Microfinance Bank will create further conveniences for our branchless banking customers. Their MCB Lite enabled mobile phones, serving as their mobile wallets, will now have access to a wider range of efficient and hassle free digital financial services.”

Mr. Ali Riaz Chaudhry also added “We are an open platform and are delighted to be able to serve MCB Bank’s valued customers. Telenor Microfinance Bank through its Easypasia platform has brought financial services to millions of under-banked people in the country. We are humbled at being able to serve our people in the most remote areas of the country through state of the art mobile based financial solutions”.

JS GROUP SPONSORED KARACHI BIENNALE 2017

JS Group being a lead sponsor for Karachi biennale 2017, recently inaugurated two art reels as part of the ‘REEL ON HAI’ initiative to help connect contemporary art to the city and its people. The Reel on Hai art project transforms a hundred cable reels into works of art by local and International artist, designers and architects and will be placed all over the city of Karachi.

The installation of two of these reels took place at Safari Park Karachi and more similar initiatives shall continue throughout the year. The works of artist Sana Burney and Bina Ali are on display and these reels were inaugurated by Mr. Muhammad Ali Charanya, Chief Operating Officer Mahvash and Jahangir Foundation (MJSF) which is the charitable arm of JS Group. MJSF focuses its extensive charitable efforts in areas including health, education, social enterprise and disaster relief. Mr. Charanaya expressed his enthusiasm for projects like these to help involve under privileged communities with artistry and public engagement.

Founded in 1970, JS Group is an international investment and industrial conglomerate. In over four decades since inception, JS Group has cemented its position as one of Pakistan’s most diversified and progressive financial services groups, operating market-leading companies in commercial banking, securities brokerage, investment banking and asset management.

JS BANK SIGNS STRATEGIC LINKAGE WITH INSTITUTE OF BANKERS PAKISTAN

JS Bank’s learning & organizational development has initiated a number of projects with several training and educational institutions to align its human resource with the best global practices. JS Bank’s goal is to empower each member of the JS Bank family with learning opportunities which will help polish their professional and personal skills and contribute towards organizational goals.

In lieu of the earlier strategic alliance with Pakistan Institute of Management, the second strategic linkage was signed with Institute of Bankers Pakistan (IBP) led by Muhammad Aneek Rehman who is the Unit Head of Batch Recruitment & Strategic Linkages. The official MOU signing ceremony between JS Bank and Institute of Bankers Pakistan was held at the IBP Premises. The Memorandum of Understanding was signed by Mr. Imran Khalid, President & CEO JS Bank and Mr. Husain Lawai, CEO Institute of Bankers Pakistan.

JS Bank is considered amongst the fastest growing banks within Pakistan’s banking landscape with 307 branches in 152 cities and one international branch. JS Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.

“INDUS HOSPITAL INAUGURATES 74-BED MATERNAL CARE CAMPUS”

In order to cater to more women in dire need of maternal health services, The Indus Hospital Sheikh Saeed Memorial Campus has been expanded to 74 beds from previous 54 beds and it has also been equipped with a state of the art N I C U which has the capacity of handling 12 neonates at one time.

After expansion and modernization of this campus, which is located in same vicinity of Korangi, more deliveries and gynecological cases can be catered to. Every month 167 safe deliveries are conducted at the hospital and 2360 women come in for consultation visits. Hence The Indus Hospital Sheikh Saeed campus is playing a pivotal role in changing the maternal health indicators within the lower income area that it operates in.

The inauguration of this first Maternal Care Hospital, Sheikh Saeed Campus is yet another milestone achievement of The Indus Hospital. This is another campus under the umbrella of Indus Health Network and is headed by Dr. Farah Bari.

This campus is also operating on Indus Hospital’s popular model of being paperless and cashless hospital. The aim and mission of the hospital is to provide the underprivileged class a high quality facility where safe deliveries are performed under high medical professionals and staff.

In the inauguration ceremony, CEO of Indus Hospital, Dr. Abdul Bari Khan expressed great joy and happiness for achieving another target in serving the people in health sector. He looked quiet determined and said the aim of Indus Health Network is to replicate the model of providing free treatment with high quality to those people in the country who are in dire need. He expressed a strong will to continue the expansion and go as far as he can in this great service of humanity.

The Chief Guest, Mr. Masood Naqi, Chairman KATI said that this is a great achievement of Indus Hospital and its top management. Mr. Naqi said that Indus is doing a great service for the people of our nation not only through providing them high quality medical care. He believes only a leadership with a heart for humanity can have such a great vision and surely the management at Indus Health Network is one of those. Chairperson of the Board of The Indus Hospital gave vote of thanks to all participants and donors.

FFC-HUBCO JOIN HANDS

Pakistan’s largest fertilizer producer, Fauji Fertilizer Company Limited (FFCL) is entering into a strategic alliance with the Hub Power Company Limited (HUBCO)to set up a 330 MW Coal based Power Plant in Thar. The announcement came after FFC Board of Directors’ meeting held in Rawalpindi on Wednesday, 15th of March 2017.

The power plant, being a CPEC Project, will be built under a special purpose company, Thar Energy Limited (TEL), and will be based on indigenous coal to be mined from the coal fields of Thar Block-II. Commenting on the joint venture with HUBCO, Lt Gen Shafqaat Ahmed, HI(M) (Retd), CE&MD FFC assured that this project will help address the power shortfall in the country utilizing local coal, which is also a major goal of the current Government besides adding value to the Company’s long term investments in the best interest of its shareholders.

FFC and HUBCO both are well reputed and internationally recognized corporate entities with extremely high business and financial credibility. CE&MD FFC added they believe that this strategic partnership will open up new avenues of business growth, whereas the excellent financial position, credibility and best business practices of the two corporate giants will provide synergy and confidence for all the stakeholders.

Ground work on the site has already commenced and the project is expected to begin commercial production by end 2019.

FAYSAL BANK LAUNCHES HOMESTYLES

Faysal Bank Limited (FBL), one of the leading banks in Pakistan announced the launch of the Faysal Bank HomeStyles in partnership with leading home improvement brands to provide home appliances and furniture products on instalments.

Faysal Bank HomeStyles is launched under the Personal Instalment Loan (PIL) product. This is an end user defined program whereby eligible customers have the option to pick and choose home improvement products from a bouquet of leading brands. The selected products will be financed through PIL at attractive and affordable loan pricing and the disbursed amount will be directly paid to the partner upon delivery of goods.

The partner brands for FBL HomeStyles include leading players of this segment offering an extensive range of electronic and kitchen appliances, home fittings, furniture and home décor to help customers renovate or upgrade their homes.

Commenting on the occasion Mr Fouad Farrukh, Head Retail Banking stated, “We are constantly looking to enhance our product suite and through Faysal Bank HomeStyles launch, I am confident that we will continue to strengthen the value proposition for our customers.”

Syed Iftikhar Ul Haq, Head Consumer Finance added, “This product will be offered to all segments specifically those who have entered the earning and spending age, ideally 30 years and above. This proposition will later also be offered through Credit Cards, BTF product variants and Islamic Financing mode.”

Fahad Ullah Khan, Head Unsecured Business concluded, “Through Flavours, Lifestyles and now Home styles, the Bank has built a platform for partners to jointly serve consumer requirements with ease.”

Homestyles will provide a convenient and an economical way for borrowers considering home improvements. Faysal Bank is determined to continue offering such products and services which will uplift the lifestyle of consumers.

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