Dubai's most massive event to date takes place in
September next year when the Boards of Governors of the World Bank and
the International Monetary Fund come to town for their annual meeting, thereby confirming Dubai's place at the
crossroads of the global economy.
The gathering, on September 23 and 24 2003, is the
world's leading economic and business event and is taking place in the
Middle East for the first time, bringing with it challenges and
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
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
*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
*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
*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.
*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
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
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
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
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
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
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
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
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
1. Software Development
2. Software Export
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),
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