Mar 05 - 11, 2001
Ghalib and Information Technology
A seminar on Ghalib held last week at the Pakistan
Arts Council in collaboration with Greenwich University. "Ghalib
aur Information Technology".
Dr. Ishrat Husain in his presidential discourse
said that with IT at hand, the message of Ghalib's poetry, his
humanistic approach towards life and vision, unfolding itself with the
passage of time could now more effectively be sent to people at large.
The area of human knowledge, with each scientific discovery, has been
expanding, he said. First, it was gramophone, then television, also
satellites, now computers and IT, and with the click of a
button, the entire world unfolds itself before our eyes. Ghalib's
greatness lies in his deep study of nature and the scientific
knowledge he had derived out of it.
About 15 per cent of his poetry was based on
scientific principals, he observed and said that with increasing
awareness and knowledge the inner meaning of Ghalib's poetry would be
known to people in coming years.
Earlier, Ghazi Salahuddin said Ghalib was a great
humanist and a secular person. Poetry, fine arts, study of nature,
philosophy and culture were the essentials of society, and not the
development of technology and science alone. Creativity, he said,
could not be obtained without literature and poetry. He said cinema,
TV, the Progressive literary movement and the new scientific
traditions had greatly helped in the study of Ghalib's poetry and now IT
could be harnessed to carry his noble and thoughtful message around
Talat Husain had come with a fine selection of
letters depicting different phases of the great poet's life.
Shahabuddin Shahab read out a Persian naat and a
Persian ghazal of Ghalib's. His Tehtul Iafz delivery of both in
Persian accent was superb.
However, the Vice Chancellor of Greenwich
University, Seema Mughal's paper was liked by the audience.
Famous poet Tabish Dehlavi recited his verse he had
composed at the 100th anniversary of Ghalib some 31 years ago.
NIT & UBL Strategic Alliance
Since inception NIT has made a significant
contribution towards mobilization of individual savings for investment
at the national level. In order to further improve and encourage
investment, NIT and UBL have entered into a strategic alliance through
which NIT sale counters shall be established at prime UBL branches.
NIT will utilize the selected branch network of UBL as an outlet for
its investments. This joint venture is a cost-effective proposition
for NIT to reach maximum number of customers with minimum financial
In the initial phase, the NIT's sale/repurchase
operations would commence from two designated branches of UBL, namely
Shamsheer Branch and North Nazimabad Branch. In due course of time
five more sales counters will be installed in Karachi and the facility
would further be extended to the major cities i.e. Lahore Rawlapindi,
Islamabad and remote areas of the country.
Nit sales counters will be equipped with latest
information technology to provide on-line information on stock market
position and NIT rates. The NIT sales staff will be available to
provide investment services and investment related information to its
customers from 9:00 AM to 5:00 PM on all working days and 9:00 AM to
1:30 PM on Saturdays. The project will be in addition to the existing
NIT sales network of 24 branches.
The NIT/UBL project envisages to offer additional
options to NIT retail investors, with major emphasis on the individual
investors residing in remote areas of the country. As such NIT expects
to attract personal savings by utilizing the UBL branch network
already operating throughout the country. From the point of view of
UBL, NIT sales counters are expected to add to the customer base of
UBL which, in return, should also expand the deposit base. In
addition, after the implementation of the Riba-free economy, the UBL
will have an edge over other banks by having an Islamic investment
tool. It is pertinent to note that the NIT's investment is almost Riba-free.
NIT, the largest open-ended mutual fund in the
country with around 70% share of the total Mutual fund industry has
around 65,000 unitholders and is actively working on different
products to enhance customer base. NIT offers the advantage of well
diversified portfolio to its investors, without the capital outlay
needed to develop one for themselves. The joint venture will help in
improving investment climate in Pakistan.
Sysnet Education and University of Cambridge —
Unveiling New Standards of Excellence
Sysnet Education (Pvt.) Ltd., has become affiliated
with Cambridge International Examinations, a Local Examinations
Syndicate of the University of Cambridge, during an affiliation
ceremony held at the Sheraton, Karachi, on February 25, 2001.
The affiliation ceremony was inaugurated by Dr.
Fred Burke, Regional Director, Cambridge international Examinations,
South Asia and Mauritius, together with Danesh N. Dubash, General
Manager, Sysnet Education.
Speaking at the inauguration ceremony, Dr. Fred
Burke mentioned, The joining of hands of Cambridge International
Examinations and Sysnet Education will prove immensely beneficial to
candidates, in helping leverage themselves to the forefront of their
relevant industries, explore new horizons and set new benchmarks of
Danesh N. Dubash, General Manager, Sysnet
Education, while at the ceremony, commented, "we are proud to be
affiliated with one of the world's leading academic institutions and
hope that this affiliation will lead to even greater strengthened
ties, in times to come, which will in turn further benefit and refine
the Pakistani youth to conquer tomorrow's challenges".
This new affiliation will enable the
internationally recognised Cambridge International Examinations to be
held at the Sysnet Education location, in Karachi. Under the umbrella
of Cambridge International Examinations, Sysnet is now registered to
offer training and online testing for Cambridge Skills and Career
Awards". Through these educational experiences and examinations,
candidates are provided with a competitive advantage, to further
either job prospects or an academic career.
Part of the Sysnet Group, Sysnet Education is the
established leader in network management training since 1995 and has
been committed to enhancing the quality and professionalism of the
networking industry. With a combination of a convenient training
location, state-of-the-art equipment and the finest instructional
talent in the industry, Sysnet Education provides an unparalleled
Synectiv — opens showroom in Lahore.
Synectiv Pakistan the largest retailer /
distributors of cellular products opened their showroom in Lahore
Synectiv has an aggressive expansion plan to
develop retail chain across the country with a concept of "One
Stop Shop" providing complete cellular solution under one roof
that includes choice of Top leading Brands Handsets, Accessories, One
Year Warranty and Effective After Sales support.
Synectiv is also the first ever in Pakistan to
introduce "Rent-a- Mobile" at Quaid-e-Azam International
New intel mobile processor delivers best
performance and Minimal power consumption for sub 3-pound notebooks
Intel Corporation announced a new addition to its
family of low-power processors for small mobile PCs. The Low Voltage
mobile Pentium® III processor 700 MHz featuring Intel® SpeedStep™
technology delivers the best performance, lowest power consumption and
extended battery life to new categories of mini-notebooks weighing
less than 3 pounds. This processor is shipping in volume today with
systems available from leading PC vendors.
"Intel is absolutely committed to developing
mobile processors and technologies to deliver the best mobile
experience," said Don MacDonald, marketing director of Intel's
Mobile Platforms Group. "This power efficient mobile processor
consumes less than l watt of power while delivering the best
performance and extended battery life available today for mini
Intel's Low-Power Technologies
All of Intel's mobile processors are specially
engineered to meet the performance, power, cooling and size
requirements of mobile PCs. The Mobile Pentium III processor featuring
Intel SpeedStep technology can dynamically switch clock frequency and
voltage, depending on whether the computer is running on batteries or
is plugged into AC power. When running in Battery Optimized Mode, the
processor runs at a lower frequency and lower voltage, significantly
lowering CPU power consumption while still delivering high
performance. When a user plugs into an AC outlet, the notebook
automatically switches to Maximum Performance Mode, increasing the
frequency significantly. Users also have the freedom to select the
Maximum Performance Mode even while running on batteries. Making the
switch is as easy as clicking an icon at the bottom of the screen —
and no reboot is required.
MCB ATM NOW AT SUI SOUTHERN GAS BUILDING, KARACHI
MCB has added another ATM at Sui Southern Gas
Building, Sir Shah Suleman Road, Near Civic Centre, Karachi to its
over 80 ATMs across 12 cities. The MCB ATM card can be used globally
via Cirrus and Maestro network of more than 5.4 million points. The
ATM was inaugurated by Mr. Mukhtar Ahmed, Managing Director (Sui
Southern Gas) in a simple ceremony. Other prominent personalities
present included Mr. Inam-us-Samad (Deputy MD) Sui Southern Gas, Mr.
Aftab Manzoor-President & Chief Executive MCB, Mr. Ali Munir-Head
of Financial Control, Mr. Aarij Ali-Head of Consumer Banking, Mr.
Amjad Farooq-Head of IT and Naseem-ur-Riaz-EVP-Engineering &
NBP Provides Rs. 400 M Financing Facility
National Bank of Pakistan signed an agreement for
syndicated financing facility for Pakcom, a limited company providing
cellular telephone services in Pakistan.
National Bank approved the financing facility to
the extent of Rs. 400 million, against total financing amount of Rs.
1,100 million. ABN Amro Bank has arranged the facility for Pakcom. The
amount of this syndicated loan will be sued largely for working
capital requirement and some to be used for balance sheet
restructuring of the country.
"We are happy and confident that this
financing facility will provide further boost to the cellular business
in the country and will also lead way to the introduction of next
generation products in the market, so vital for the growth of national
economy", Mr. Ali Raza President National Bank of Pakistan said
at the signing ceremony.
The first tranche of Rs. 500 million under this
syndicated financing comprising NBP's portion Rs. 400 million and ABN
Amro Bank's portion of Rs. 100 million, is scheduled to be drawn down
within 2 weeks of signing of the loan documentation while the next
tranche of approximately the same amount is planned to be availed by
Pakcom by the middle of this year.
MCB National refinery branch at korangi industrial
area, Karachi shifted to its newly constructed premises.
In line with Banks Mission statement, "To
become the preferred provider of quality financial services in the
country with Profitability and responsibility and to be the Best Place
to Work", MCB has transferred its National Refinery branch to its
new premises. It was inaugurated by Mian Mohammad Mansha, Chairman MCB,
jointly with Mr. S.M. Muneer, Vice Chairman MCB.
PACRA MAINTAINS THE RATING OF FIRST HABIB MODARABA
The Pakistan Credit Rating Agency (PACRA) has
maintained the rating of 'A3' (A Three) of First Habib Modaraba (FHM).
This is one of the two Modarabas which have been placed in the 'A'
category rating by PACRA. The rating denotes an outstanding financial
condition with a consistent record of above average performance.
While assigning the rating, PACRA has recognised
the sustainable improvement in the performance of the Modaraba and
further strengthening of high quality asset portfolio. The rating also
takes into account the steady growth and ability to maintain a
consistently good performance by FHM despite the continuing difficult
operating environment. The effective risk management policies
demonstrate the management's ability to meet the challenges of the
prevailing recessionary conditions.
Dividend Announcements by Members of Modaraba
Association of Pakistan
Modaraba Association of Pakistan is pleased to
announce that for year ended 30th June 2000, around 2/3rd of the
Members declared dividends. An analysis of announcements by members
5 members declared dividends ranging from 21-l/2%
4 Members declared dividends between 15 to 20%.
6 Members declared dividends between 10 and 15%.
Finally, 9 members declared dividends up to 10%.
Despite the fact that 9 members declared dividends
between 15 and 30%, only 2 Modarabas are quoted on the Karachi Stock
Exchange in excess of Rs.10, the rest are quoted below par.
One Modaraba, which has declared cash dividends
consistently in excess of 15% in the last 5 years, is quoted below
par, at only Rs.9.50 only per certificate of Rs.10. A Modaraba, which
has declared cash dividends in excess of 20% in the last 2 years, is
also quoted below par, at Rs.4.80 per certificate of Rs. 5.19 of the
remaining member Modarabas who declared dividends, are all quoted
below Rs.6.50 per certificate.
Despite the dividend announcements highlighted
above, and the fact that only 2 Members are quoted above par on the
Karachi Stock Exchange, clearly indicates that the public perception
regarding Members of the Modaraba Association of Pakistan is