Apr 24 - 30, 2000
Intel Corporation opened the Asia
Pacific Intel Developer
Forum by demonstrating the capabilities of the company's fastest microprocessor,
code-named "Willamette." The demonstration was displayed for the first time in
Asia at the forum in Taipei, Taiwan.
Based on a new microarchitecture from Intel, Willamette is due to be
introduced later this year, Intel Senior Vice President Albert Yu announced in his
address. Yu preceded keynotes by Intel Vice President Pat Gelsinger on desktop PC
innovation for the new millennium and Intel Vice President Robert Jecmen on Internet and
e-Business with Intel mobile solutions.
"The year 2000 will be Intel's biggest product year ever," Yu
said. "We will introduce two new microarchitectures in Willamette for desktops and
Itanium for servers and workstations, as well as a 'smart integration' processor
code-named 'Timna' designed for value PCs. Intel is pleased to offer this performance
technology to the Internet economy."
Yu also announced the Chinese-translated name of Itaniumthe first
in Intel's IA-64 processor line due to be introduced later this year for high-end servers
and workstations. The Chinese name of Itanium is pronounced "An-Teng" in
ICI Pakistan Signs Agreement With DuPontp
ICI Pakistan has recently concluded discussions with DuPont
Pharmaceuticals with an agreement to market and distribute their range of pharmaceutical
products in Pakistan. Mr Munnawar Hamid, Chairman & Chief Executive ICI Pakistan
Limited and Mr Jon Walley, Vice-President International, DuPont Pharmaceuticals signed the
agreement in Wilmington, Delaware on 31 March 2000. Mr Hamid was accompanied by Mr Rashiq
Sufi, Executive Director and Mr Jehanzeb Khan, Business Manager Pharmaceuticals Business.
Ms Raquel Garcia, Sr Director International Division, DuPont was also present on the
ICI Pakistan Pharmaceuticals Business markets prescription drugs with a
strong portfolio of innovative products from AstraZeneca Pharmaceuticals. With a focused
range of products in the cardiovascular segment, the Business also specialises in drugs
for the treatment of cancer. The Business additionally represents Schering-Plough's range
of veterinary products, and has a leading position in the livestock segment with products
which are respected in the industry as market leaders.
The addition of the DuPont Pharmaceuticals range later this year will
add complementary speciality products in the cardiovascular and pain management segments.
PROGRESSIVE FINANCIAL CONSULTANY (PRIVATE) LIMITED
A collage of financial services offered from one place is a novel
concept in Pakistan. Banks, leasing companies, modarabas and other DFls are providing a
large variety of financial products and services but they are not necessarily catered to
meet specific individuals' needs.
Progressive Financial Consultancy (Pvt.) Limited is first of its kind
in the country and was established in 1998 under Companies Ordinance 1984 by a group of
veteran bankers who have exposure in working within Pakistan and several foreign countries
in Middle East, Far East, Europe and Americas. PFC is involved in providing a multitude of
financial services to several multinationals and national corporations and financial
institutes. It has received a very encouraging response from the financial sector and in a
short span of time it has added to its clientele a list of diversified multinational and
renowned Pakistani organizations.
PFC's main purpose is to assist and facilitate the services of other
companies/institutions along with serving the nation and contributing positively towards
stability and growth of the economy by providing employment opportunities to the work
force. PFC is generally known in twhe market for its sophisticated debt collection
services by keeping in view the Government's directives for the recovery of bad and
doubtful loans, it has engaged actively in the recovery of bad loans for its customers.
But besides debt collection, it is also engaged in providing services such as Godown
Inspections, Data Verification, Feasibility Reports, Head Hunting, Debt Management and
other advisory services.
The company is headed by Mr. Akbar M. Bilgrami who is the President and
Chief Executive. Mr. Bilgrami is a seasoned banker and was one of the pioneers in Bank of
America where he started his career and stayed for 24 years during which he was posted to
countries in the Middle East, Southeast Asia, Europe at North at South America. Subsequent
to this, he was associated with other foreign banks and until late 1999 was the founder
Director and CEO 8> Managing Director of Pak-Gulf Leasing Company appointed by
Government of Pakistan Islamabad in October 1994.
PFC has signed a contract with Pakistan Telecommunication Co. Ltd. for
Debt collection services and, as pilot project we are focusing recovery drive in specific
areas of Karachi but at a later stage intend to cover other parts of Pakistan. Besides
PTCL, Progressive Financial Consultancy is also engaged in providing services to its
clients like American Express, Bank of America, Diners Club, Mobilink, Union Bank, and MCB
Master Cards to name just a few.
PFC's office is equipped with latest technology and a professionally
qualified full time staff. The directors of PFC are concentrating on a business, which
suits to their business partners, and wishes to focus on other challenges ahead of them.
The role of PFC comes where customized debt management plan is workable to suits the needs
of a business concern. Survey and data verification is required for effective and
They have been keenly observing the market conditions and feel that a
competent and efficient Financial Consultancy is the need of the hour in Pakistan. Their
objective is to be cost effective for their clients in terms of pay roll and other
administration expenses and to provide low cost solutions for the problem areas. So far
they have been successful in their efforts and look forward to being a major player in a
market that is in dire need of such advanced services.
The Carrot Company
The Carrot Company a post-production house, well equipped and
specializing in state-of-the-art equipment, was recently involved in the making of mega
hit serial Bisaat.
This being film actor Nadeem's first venture, and having been shot on
location mostly in Paris, Bisaat's editing required exceptional handling the fresult shows
INTEL CORPORATION Q1 REVENUE $8.0 BILLION
Intel Corporation announced first quarter revenue of $8.0 billion, up
13 percent from the first quarter of 1999 and down 2 percent sequentially.
For the first quarter, net income excluding acquisition-related costs
was $3.1 billion, up 52 percent from the first quarter of 1999 and up 28 percent
sequentially. First quarter earnings excluding acquisition-related costs were $0.88 per
share, an increase of 52 percent from $0.58 in the first quarter of 1999, and up 28
During the quarter Intel announced that the Internal Revenue Scrvicc
Clad closed its examination of the company's tax returns up to and including 1998. As part
of this closure, the company reversed previously accrued taxes reducing the quartcr's tax
provision by $600 million, or approximately $0.17 per share. Including acquisition-related
costs in accordance with generally accepted accounting principles, first quarter net
income was $2.7 billion, up 37 percent from first quarter 1999 and up 30 percent
sequentially. Earnings per share were $0.78, up 37 percent from $0.57 in the first quarter
of 1999 and up 28 percent sequentially. Acquisition-related costs in the first quarter
consisted of $62 million in one-time charges for purchased in-process research and
development and $313 million of amortization of goodwill and other acquisition-related
"Demand in the first quarter was stronger than we expected at the
beginning of the year and continues to be stronger as we enter the second quarter,"
said Craig R. Barrett, president and chief executive officer. "We also expect a
strong second half, and are accelerating our investments in capacity to meet future
"While supply remains tight entering the second quarter, we are
ramping our 0.18-micron manufacturing technology rapidly in five facilities," Barrett
continued, "and expanding to eight facilities by year-end, which will substantially
increase supply in the coming quarters. We are excited about our product introductions
slated for the second half, when we will refresh our entire microprocessor line --
including the launches of the Itanium processor and processors code-named
Willarnette and Timna."
Intel announced five networking and communications acquisitions in the
first quarter, three of which, GIGA A/S, Ambient Technologies, Inc. and Thinkit
Technologies, Inc., closed during the quarter and two, Basis Communications Corporation
and Voice Technologies Group, Inc., are still pending. Background on each of these
acquisitions can be found in the First Quarter Highlights section of this release.
During the quarter, the company paid its quarterly cash dividend of
$0.03 per share. The dividend was paid on March 1, 2000, to stockholders of record on
February 7, 2000. Intel has paid a regular quarterly cash dividend for over seven years.
During the quarter, the company repurchased a total of 9.8 million
shares of common stock, at a cost of SI billion, under an ongoing program. Since the
program began in 1990, the company has repurchased 669.7 million shares at a total cost of
S 19.2 billion.
Intel, the world's largest chip maker, is also a leading manufacturer
of computer, networking and communications products. Additional information about Intel is
available at www.intel.com/pressroom .
NBP's ANNUAL CONFERENCE TODAY
An important Executive Conference of the National Bank of Pakistan will
be held today, to streamline home remittances and utility services.
NBP executives from all over Pakistan will conduct strategic
discussions to chalk out a future strategy in order to modernise banking services and
discuss the business position of the bank.
The NBP President Muhammadmian Soomro will chair the conference. He
Will be emphasising on improvements of the bank's workings.
The agenda of the conference includes suggestions of ways and means to
explore resources for the bank's progress, with special reference to remittances.
Incorporated on November 8, 1949, the National Bank of Pakistan
performs sub-treasury functions on behalf of the State Bank of Pakistan, and is also the
largest commercial bank with over 1400 branches spread all over the country, with 23
foreign branches and 5 representative offices in 16 countries of the world.
SysTech Introduces CMMIS
In the recent years information technology has attained a priority
status for business houses because modern communication and computerization has
contributed in increasing the efficiency and lowering the cost. Software has emerged as an
essential component for an efficient communication network, and as such information
technology has grown at a phenomenal rate.
In this scenario, SysTech international conducted a seminar on
"Computerized Maintenance Management Systems" to highlight the needs of
maintenance systems. Many famous companies of the country registered themselves for this
"SysTech" head office in New Jersey, USA and branch
offices in Karachi and Riyadh, Saudi Arabia. This seminar was conducted by Karachi Branch,
headed by Mr. Shams Ladak with their team mate Mr. Zafar Ayub