Dubai 2003 is the name given both to the World Bank/IMF meeting and the organisation set up by the Dubai Government to organise it under the chiarmanship of His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, and UAE Minister for Finance and Industry.

Sheikh Hamdan has said: "This gathering creates a tremendous opportunity to communicate with the world's business leaders about the promise of Dubai and the United Arab Emirates."

RETAIL PRODUCTS AND SERVICES OF FAYSAL BANK

*Faysal Savings account which is the best savings account available in the market. Profit on this account is calculated on a daily balance basis and every rupee in the account earns profit. There is no restriction on number or amount of withdrawals and no hidden charges.

*Rozana Munafa Account is a high net-worth savings account which offers progressively higher profit as your balance grows. There is no restriction on number or amount of withdrawals.

*Rozana Munafa Plus account is a savings account which combines the facility of progressively higher profit with higher deposit amounts, calculates profit on a daily balance basis and gives you profit every month. There is no restriction on number or amount of withdrawals.

*Faysal Premium and Extra accounts are special savings accounts for large deposits which enable you to earn profit daily and at competitive rates.

Profit rates on all savings categories range between 0.5% to 6.40%

*Faysal Izafa is a term deposit account where you get competitive profit rates based on tenors ranging from 1 month to 5 years. What is more, the 6 month, 1 year and 2 year deposit also offers you profit disbursement on a monthly basis.

Profit rates on term deposits categories range between 4% to 8%

*US $ Savings Account (F.E. 25) calculates profits daily and gives you easy access to your foreign currency.

*Mahfooz Sarmaya (F.E. 25) foreign currency term deposits are available in tenors of 7 days, one month and three months offering competitive profit rates.

Profit rates on $ savings & term deposits is 1.25% and on GBP savings and term deposits is 0.75%.

*Faysal Sahulat account which is a current account offering you many free facilities suited both to individual and business needs.

*Faysal Consumer & Car Ijara offers you the opportunity to drive a new car or have access to household durables through a very affordable lease scheme based on Islamic principles.

OUR SERVICES

*Safe Deposit Lockers are available in various sizes at affordable rates at most branches.

*Non Stop Banking between the hours of 9 a.m. to 5 p.m. on all week days except Friday and Saturday. Friday timings are from 9 a.m. to 12.30 p.m. and again from 3 p.m. to 5 p.m. while Saturdays we are open only from 9 a.m. to 12.30 p.m.

* Countrywide Service is available to our valuable customers whereby you may deposit and withdraw cash from any branch of Faysal Bank as per Bank rules.

* ATM service where as a customer of Faysal Bank you have access to over 150 MNet ATMs all over the country as well as to the Bank's own upcoming ATMs.

ENGRO TO ESTABLISH UREA PLANT IN OMAN

Engro Chemical Pakistan Limited (ECPL) has signed a Memorandum of Understanding (MoU) with Oman Oil Company to build a world scale urea fertilizer complex in Sultanate Oman. The proposed project is ECPL's first venture outside Pakistan and represents a major industrial undertaking by a Pakistani company outside the country.

This project is premised on utilizing Omani gas and ECPL's expertise to build and operate cost effective urea manufacturing plant. The project envisages refurbishing and relocating of an existing ammonia plant and constructing a new urea plant and allied infrastructure. This plant will have an installed capacity to produce 850,000 tonnes of urea per annum for sale in the global markets, including Pakistan.

MUSLIM COMMERCIAL BANK AND SYSTEM ACCESS JOIN HANDS

MCB and System Access signed a multimillion-dollar agreement for SYMBOLS software to run the bank's business operations. System Access is a leading financial software provider of customer centric universal banking solutions for financial service institutions worldwide serving the needs of customers in over 20 countries, across Asia Pacific, Europe, the Middle East and Africa. Mr. Ali Munir, Senior Executive Vice President of Muslim Commercial Bank Ltd and Mr. Ramesh Nova, Senior Vice President of System Access signed the agreement on behalf of their Organizations.

MCB will install the latest version of SYMBOLS Version8 to run SYMBOLS integrated modules on its system which will also include e-banking modules like e-Finance. This core banking software will enable MCB to offer customer need-based products to minimal time, across both its traditional branch network and multiple delivery channels.

The multi-tier architecture of SYMBOLS software is customer centric, managing and facilitating customer knowledge, interaction, relationship and risk. The software would enable the bank in understanding and managing its customer's financial/information resulting in implementation of benchmarked service standards, improve efficiency and more focused management of risk and Balance Sheet.

MCB with a network of over 1000 branches is the largest bank in the private sector. The last few years has shown a shift in MCB's focus towards IT savvy products and services. With over 225 on-line brances, 140 ATMs nationwide, MCB has the the largest ATM network in Pakistan. The bank manages the MNET Switch and has recently introduced a host of services like Mobile Banking, Funds Transfer and Utility Bill payment options on its expanding online and ATM network.

BRISTOL-MYERS SQUIBB LAUNCHES BLOCKBUSTER

Bristol-Myers Squibb is launching its globally successful blockbuster medicine Pravachol in Pakistan for the prevention of second and even first heart attack

Pravachol has been marketed in several countries including USA, UK and has worldwide sales of over US $ 2 billion. It is the largest selling product of this company.

Pravachol is the only medicine of Statin class which is hydrophilic and is approved for the prevention of primary and secondary i.e first and second heart attack.

Unlike other cholesterol lowering drugs, Pravachol has not been associated with significant interactions with other drugs particularly those used commonly for heart related illnesses, e.g. blood pressure lowering medicines, diuretics, aspirin, etc.

Pravachol has a better safety profile than other cholesterol lowering drugs and is therefore recommended for long term use.

On the basis of its proven beneficial effects on the heart and blood vessels, Pravachol is considered first-line medicinal treatment in patients with established coronary heart disease and in individuals with high cholesterol in their blood due to which they are at higher risk of developing coronary heart diseases e.g angina, heart attack, etc.

BMS is a US $ 19 billion global pharmaceutical and related healthcare products company ranked in the top 10 pharmaccutical companies in Pakistan, in the USA and the world, whose mission is to extend and enhance human life.

ABN AMRO LAUNCHES DEBIT CARD

The first Debit Card was launched in a simple and impressive ceremony by Dr. Ishrat Hussain Governor State Bank of Pakistan at the ABN AMRO Head Office in Karachi. The ABN AMRO Debit Card has been developed in partnership with ORIX Leasing, the infrastructure providers in this venture.

Speaking on the occasion, the Governor, SBP, Dr. Ishrat Hussain commended the initiatives taken by ABN AMRO in the financial industry. "The Debit Card", he remarked, "is a replacement for cash and will bring about significant efficiencies in the payments sector".

Naved A. Khan, Country Representative, ABN AMRO Bank said, "It is ABN AMRO's constant endeavour to bring to our customers products and services that best suit their needs. The Debit card facility enjoys world-wide popularity for being a smart, secure and convenient payment tool, and we appeciate ORIX's commitment in helping us bring the product to our customers. The Debit Card facility will enable customers to make instant and Cashless payments, at a multi tude of their favourite shops and outlets, in addition to its use on our ATM network".

Humayun Murad, Managing Director of ORIX Leasing added, "We congratulate ABN AMRO for taking the bold step of introducing the first debit card in Pakistan. We at ORIX are pleased to be partnering with ABN AMRO in this high profile product".

ERRANT CARTAGE CONTRACTORS FAIL TO DISRUPT PSO SUPPLIES

The supply of petroleum products to destinations all over Pakistan is continuing normally despite efforts by a few cartage contractors and tank lorry owners, a spokesman for Pakistan State Oil (PSO) said.

The spokesman for the country's largest oil-marketing company pointed out that had there been even an iota of truth in the claims of the leaders of the All Pakistan Oil Tanker Owners Association (APOTOA), the general public must have felt shortage of POL products by now. But the facts stand to the contrary.

He said the ongoing agitation has been rejected by the majority of cartage contractors. "As PSO's business partners, these contractors have seen through the machinations and political ambitions of their so-called leaders. They are operating their fleet normally, thus keeping the supplying lines moving." They have already offered 60 tank lorries for the company's programme of upgrading the fleet to the international standard.

The tank lorries are to be fitted with pilfer-proofing equipment with satellite tracking system so as to ensure the product is delivered to customers in right quality and right quantity, which is imperative to build the customers' confidence in PSO.

The local fleet engaged for supplies to retail outlets in Karachi and our dedicated lubricant container service, all owned by contractors, have already been brought to the international standard.

The spokesman strongly denied the allegation that any PSO official was involved in the smuggling of petroleum products meant for Afghanistan. "The charge is ludicrous," the spokesman said.

The PSO spokesman said that most of the protesting contractors are involved in unfair practices in the transportation of petroleum products. "It is most difficult to detect the various ingenious methods and devices used for pilferage of product such as hidden chamber, double dip holes, pressure system and manipulation in dip pipe. So many contractors go unnoticed. However, PSO has uncovered several incidents with photographs to prove such pilfering."

The spokesman recalled that APOTOA leaders had last week in total desperation even misused the names of office-bearers of the PSO Workmen Union (CBA) to give an erroneous impression that these leaders of PSO employees were also with them against the management. The claim was strongly rebuffed by the CBA.

He said that the All Pakistan Oil Tanker Owners Association (APOTOA) was trying to pressurize PSO and other OMCs in shelving their fleet modernization plans, which are a deathblow to their corrupt practices.

The spokesman said the timing of this mischief was intriguing, as the agitation had been started just before the annual general meeting of the company on October 31, 2002. Furthermore, this also is the time when the privatization process of the corporate giant is going ahead full steam.

NCR IT EXCELLENCE AWARDS 2002 - EVALUATION OF NOMINATIONS BEGINS

NCR Corporation, the leading IT company announced that it has received an encouraging response from IT professionals working in diverse sectors of the corporate world for the 4th NCR IT Excellence Awards 2002.

The nominations have been compiled and forwarded to the panel of judges for evaluation purposes by A.F.Ferguson & Co.; Chartered Accountants, member firm of PricewaterhouseCoopers. The results will be announced through a grand ceremony being organized by Teradata, a division of NCR.

Worldwide, NCR Corporation is committed to attaining Excellence in IT, but the idea behind these awards in Pakistan, is to motivate, appreciate and acknowledge the work done by the people here, so that they do not have to move abroad to seek recognition and reward. These awards are a novel concept of recognizing people in the IT industry at the national level who have been instrumental in introducing, promoting and implementing IT in Pakistan.

Mr. Veqar ul Islam, Country General Manager, NCR Corporation expressed his satisfaction on the number of responses, and as expected more last minute entries, as has happened on previous IT Excellence Awards. "The awards this year are being expanded into one more category of Lifetime Achievement Award. This now presents opportunities for retired people to be recognized on a national level in related spheres of IT as well. Last year, we have already introduced two more categories: IT Youth and Publication to encourage these two important segments of our societies. These awards also provide initiative for others within Pakistan to follow, and with more winners expected, these IT Excellence Awards should be even more grand and prestigious then the previous three Award Ceremonies which NCR has held in 1997, 2000 and 2001 respectively."

THE AWARDS WILL BE GIVEN IN THE FOLLOWING NINE CATEGORIES:

1. Software Development
2. Software Export
3. Networking
4. IT Pioneer
5. IT Educationist
6. IT Research & Development
7. IT Youth
8. IT Publication
9. Lifetime Achievement Award

The awards have developed into a symbol of prestige and recognition across the country in general and in the IT industry in particular. The recognition at a national level is both encouraging and motivating for the individuals and also creates a sense of positive competition to perform better.

For nearly 50 years, NCR has brought the latest technologies to Pakistan including self service banking, Information technology Education centers and Business Intelligence solutions. NCR has been actively involved in promoting IT in Pakistan by introducing programs like IT Excellence Awards, NCR University Program, IT song, technology seminars, etc.

ABOUT TERADATA DIVISION

Teradata, a division of NCR Corporation (NYSE: NCR), is the global leader in enterprise data warehousing and enterprise analytic technologies and services. For more information, visit www.teradata.com.