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UBL’s hat-trick! only bank to win PSX’S ‘top companies of the year’ award for three consecutive years

UBL has become the only bank to win the Pakistan Stock Exchange (PSX) “Top Companies of the Year” Award for three consecutive years (2016-18). The awards for the three years, were presented at a ceremony held in Karachi recently. The Prime Minister of Pakistan, Mr. Imran Khan, who was the Chief Guest at the event, gave away the awards.

Ms. Sima Kamil, President & CEO, UBL received the awards from the Prime Minister, on behalf of the Bank.

The award acknowledges the performance of top companies in all industries, every year on the basis of comprehensive criteria such as Capital Efficiency, Profitability, Free-Float of Shares, Transparency & Investor Relations and Corporate Governance with Listing of Companies & Securities Regulations.

Each year only 25 companies are declared as winners of this award. The top 25 companies are selected on the basis of highest scores obtained as per the selection criteria.

On receiving the Award, Ms. Sima Kamil, President & CEO, UBL said “It is indeed an honour for UBL to be declared one of the top companies of Pakistan for three consecutive years. UBL leads the banking and financial services sector in Pakistan. Over the course of its 60 years of existence, the Bank has come to be acknowledged as a Progressive and Innovative Bank. The Bank provides financial solutions to over 5.5 million customers. This recognition has come about because of the support and patronage of our customers and thehard work put in by the Bank’s team.”

Uber completes acquisition of Careem

Uber confirmed the official close of the previously announced acquisition of Careem for $3.1 billion, in an announcement last week. Careem Networks FZ-LLC has become a wholly-owned subsidiary of Uber, preserving its brand. Careem co-founder and CEO Mudassir Sheikha will continue to lead the Careem business, which will report to a board made up of three representatives from Uber and two representatives from Careem. Careem and Uber will operate their respective regional services and independent brands.

With the closing of the deal, Uber has acquired Careem’s mobility, delivery, and payments businesses across the greater Middle East region, with major markets including Egypt, Jordan, Saudi Arabia, and the United Arab Emirates. The regulatory approval process in Pakistan, Qatar, and Morocco is ongoing and the transaction will not close in these territories until approvals from the legal authorities responsible are obtained.

Uber CEO Dara Khosrowshahi said: “I’m looking forward to seeing even more innovation from Careem, as they continue to operate independently under their current leadership. Working in parallel, our two platforms will be able to build upon the unique strengths of each, to the benefit of drivers, riders, and the cities we serve across the greater Middle East.”

Careem co-founder and CEO Mudassir Sheikha said: “Today marks the beginning of a new chapter for Careem. The journey that we started almost a decade ago to simplify the lives of people in the greater Middle East is far from over. Joining forces with Uber accelerates that journey as we become the region’s everyday super app. We are excited to take Careem to new heights alongside Uber, who appreciates the significant regional opportunity, is supportive of our values and culture, and believes in the purpose that drives us.”

Both companies believe this completed acquisition will provide an opportunity to expand the variety and reliability of services offered through their applications. Similarly, for drivers and captains, the companies believe anincrease in trip growth and improved services could provide better economic opportunities as well as more predictable earnings through greater utilization of drivers’ time on the road.

Shell Pakistan limited collaborates with PakWheels.com to launch an exclusive portal

Shell Pakistan Limited (Shell Pakistan) is collaborating with Pakistan’s highly trusted automobile website, PakWheels.com (PakWheels) to launch an exclusive portal. PakWheels is a website that provides information regarding vehicles; and has over the years won the trust of their visitors and established a good readership.

Through this alliance, Shell Pakistan and PakWheels will provide a holistic gateway offering authentic and relevant information regarding Shell’s consumer lubricants. Shell offers a wide range of consumer and industrial lubricants and has collaborated with PakWheels to engage its visitor base of over 30 million to disseminate relevant information to a highly targeted audience.

Shell-PakWheels portal will host exclusive features such as ‘Know your Oil Web Series’, an ‘Independent Workshop & Station Locator’, and an ‘Exclusive Lubricant Guide’. The portal is designed to help consumers choose the right lubricant for their vehicle and locate the nearest oil purchase and change facility in their vicinity.


Speaking regarding this collaboration, Ms. Nadia Haseeb, Marketing Manager for Shell Pakistan stated, “We are excited to be working with PakWheels for the launch of this portal. Shell Pakistan Limited ensures that each collaboration will prove to be the best for their consumers. PakWheels has over the years gained an engagement of approx. 4.5 million automobile enthusiasts, who will benefit from this portal when it comes to the needs of their automobile.”

The alliance has been lauded by Suneel Sarfraz Munj, ChairmanPakWheels, “Collaborating with Shell Pakistan Limited is a natural step for PakWheels. It is important for us to provide reliable information and reviews to our readers. We believe this portal will provide our readers with the best solutions.”

Metro Pakistan retains the ‘certified top employer 2020’ title

METRO Pakistan has been awarded the ‘Top Employer 2020’ for the 3rd consecutive Year, setting the bar higher by ranking as the Number 1 Country Ranked position for Pakistan.

METRO Pakistan Mr. Marek Minkiewicz expressed his joys and stated that METRO Pakistan has always dedicated itself to providing the very best working environment for employees through implementing progressive ‘people-first’ Global HR practices.

Top Employers are organizations of the highest caliber that have worked hard to create, implement and progress their people strategies. They provide an outstanding experience through strategic and thoughtful workplace programs which create an environment that empowers and develops employees.

The Top Employers Institute is the global authority on certifying excellence in employee conditions. Established more than 25 years ago, the Top Employers Institute has certified over 1500 organizations in 118 countries. These Certified Top Employers positively impact the lives of over 6 million employees globally.

Golootlo and 1LINK partner to launch discounts based Golootlo1QR payment service

1LINK (Pvt.) Limited (1LINK) and Decagon Pakistan (Pvt.) Limited (Golootlo) have signed an agreement to enable 1QR as a channel to promote account-based digital payments through 1IBFT across Pakistan. This shall allow Golootlo customers to avail year-round massive discounts by making payments in a convenient and secure manner at Golootlo partners using their bank accounts linked to the Golootlo App. Alternatively, participating banks can further augment their Bank Apps to leverage the Golootlo1QR payment service for their customers.

By virtue of this arrangement, Golootlo will utilize 1LINK services to orchestrate account linkage and payment processing for QR based payments. It allows users to conveniently pay for their purchases while availing exciting Golootlo rewards and discounts by simply scanning Golootlo 1QR placed at the participating outlets. This is a one of its kind payments model where the customer avails discounts in a frictionless manner. There is no concept of “MDR” or “acquiring”, and hence recipient outlet/business/person pays no MDR or fee, and the entire transaction amount is transferred to recipient’s nominated bank account, using 1LINK’s 1IBFT rails.

Mr. Najeeb Agrawalla, CEO 1LINK emphasized the importance of this milestone in the journey of Pakistan’s rapidly transforming payments landscape, and said, “this marks an important shift in how we envision driving consumer payments in light of the State Bank of Pakistan PSD circular 02 of 2019 on ‘Standardization of QR Code for payments in Pakistan’ and the agenda of digitizing payments in Pakistan through ubiquitous and cheaper means like the QR. With the adoption of 1LINK’s secure and easy-to-use 1QR channel by the popular Golootlo App, we see immense potential for growth of digital payments by bringing both consumer and widespread retail base into the digital payments fold.”

Mr. Fahad Mahmood, CEO – Decagon commented on this partnership and said, “The Golootlo App has received immense popularity amongst mobile phone users in Pakistan and has currently over 4.5 million users. Through this partnership, Golootlo will be offering a unique opportunity to its customers to make payments through their Golootlo App or Bank Apps by scanning Golootlo1QR. Banks are urged to sign-up quickly for Golootlo 1QR arrangement and join this exciting journey.”

Mr. Fahad Mahmood, CEO – Decagon and Mr. Najeeb Agrawalla CEO 1LINK with other Decagon and 1LINK officials.

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