The appointment of Mr. Diekmann as Chairman of the
Allianz board of Management is of particular significance to Pakistan
since he was personally involved in the joint venture between Allianz
AG and the EFU Group here in Pakistan in 2000. More recently Mr.
Diekmann visited this country for the official launch ceremony of
Allianz EFU Health Insurance Limited, which was also attended by the
Governor of Sindh, Mr. Mohammadmian Soomro.
DEWAN FAROOQUE MOTORS CELEBRATES 20,000 VEHICLES SALES
Dewan Farooque Motors Limited (DFML) recently
crossed an important milestone of 20,000 vehicle produced and sold in
the Pakistan market since the start of its operations in late 1999.
In its relatively short yet illustrious history,
DFML has become a major player in the automobile industry of Pakistan.
Ever since its appearance on the automobile arena, DFML has proved to
be an agent of change in the previously stagnant automobile market
dominated by Japanese brands. DFML brought about a healthy competition
in the market by introducing six new products in variety of market
segments challenging the monopoly of its Japanese competitor's in
DFML is the first automobile company to introduce
five types locally assembled vehicles in a short time of three years.
The DFML product range includes the 2000 cc turbo diesel intercooler
Grand Sportage which is the only SUV being manufactured in Pakistan,
the 1500 cc DOHC Kia Spectra, 1300 cc Kia Classic, 1000 cc EFI Hyundai
Santro, 1.0-Ton Hyundai Shehzore Truck and the imported 12-seater
Grace diesel van.
IBA, UNIVERSITY OF SINDH
The Director, IBA, University of Sindh, Jamshoro
has announced that the classes will commence from 1st January 2003 as
MEGA MIND MELA
The Institute of Business Administration has made a
regular feature to conduct the academically sound & conducive
activities in every week. The credit of this academic task goes to the
patronage of the dynamic educationist Prof. Dr. Anwar Ali Shah G. Syed,
Director IBA, University of Sindh, Jamshoro.
The main purpose of arranging such curricular
activities is to acquaint the students of 1BA with the current affairs
of our national economy with a view to updating their knowledge &
providing them a platform to explore their abilities, build
confidence, develop communicative skills & groom personality. In
this connection "Quiz competition" named as "Mega Mind
Mela" was recently celebrated in the month of November at
Professor Nabi Bux Daudpota Auditorium at IBA Building.
The program started with the recitation from the
Holy Quran. On this auspicious occasion, Director IBA, Prof. Dr. Anwar
Ali Shah G. Syed inaugurated the program & warmly welcomed the
faculty members of various Institutes & departments &
distinguishing guest from various walks of life. He said that he felt
happy to see the enthusiastic approach of the students of Business
Administration with their keen interest & active participation in
curricular & co- curricular activities. He said that don't keep
yourself away from learning since it increases your competence.
Competence & integrity are respected everywhere because best is
hired and rest is out. This world is crying for & running after
people with higher competence & integrity in order to hire them,
he believed that such healthy & constructive activities make
students competent & ready to meet the upcoming challenges of
The students of MBA final made great efforts to
organize this event. There were six teams each team consisted of three
members. The teams beard the name of Entrepreneurs, Managers,
Organizers, Administrators & Executives. All the students of BBA (Hons)
part I, II, II, MBA (previous) & MBA (Final) participated
extremely well in three rounds. Round I, was about general knowledge,
Round II. covered the current affairs & Round III was purely based
on Business Studies that includes disciplines as Accounting, Finance,
Marketing, Management, Taxation, Banking etc. The leader (students of
MBA) won the battle with the highest score.
The Director IBA, Prof. Dr. Anwar Ali Shah G. Syed
addressed the students & said that "Knowledge is Power".
But, it should be digestible. He said where there is knowledge, people
flourish, and progress; & lead the world. He provided the thought
provoking ideas about seeking knowledge, he said it is accumulative
& keeps on changing.
In the end he advised the students to be in touch
with the books, journals & Magazines for seeking knowledge. He
emphasized the importance of Internet & computer technology, which
he said is the source of acquiring, managing,. retaining &
applying knowledge. He said that we will continue to encourage such
curricular & co-curricular activities in the future too with the
objective of boosting confidence among students & to equip the
graduates with latest knowledge & skills.
Sadaf Mushtaque, Saima Qureshi, Sanober Shaikh,
Faculty Members, IBA
The Karachi Stock Exchange has accepted the request
for de-listing of Chenab Fibres Limited with effect from December 30,
The company has already agreed to buy back the
minority share holdings at the rate of Rs 17.75 per share. The company
has submitted a bank guarantee (valid up to December 9, 2003) on
behalf of the sponsors in favour of KSE, regarding buy-back of the
remaining shares from the minority shareholders and undertaking to
purchase the remaining shares.
PALPA EXECUTIVES MEET MANAGING DIRECTOR, PIA
A team from the Pakistan Airline Pilots'
Association (PALPA), led by its President, Captain N. A Bucha recently
made a presentation to the Managing Director of PIA, Ahmed Saeed.
The PALPA team apprised the MD of the problems
being faced by the pilots due to long duty hours and other issues that
the pilots would like to discuss with the management.
Expressing his views about the presentation,
Captain Bucha said, "Though we are not overworked, we are
fatigued due to the flight pattern and the way the management is
utilizing us. This stress is not only affecting the pilots but is also
detrimental to aviation safety in general." He went on to say,
"Flight safety is a source of credibility for the airline,
however the stress caused by fatigue may damage an airline's safety
In addition, Captain Bucha further said that he
believed along with the pilots and the employees that the national
airline would not sustain any industrial action, which is why there is
a growing need to settle differences through dialogue.
SWISS APPOINTS WILIIAM L. MEANEY
The SWISS Board of Directors has named William L.
Meaney, 42, as the company's new Chief Commercial Officer. He will
hold the rank of Managing Director at the new supradivisional level
recently announced for SWISS's top management corps. An experienced
airline manager and pilot, Meaney is best known within the industry as
the prime mover behind the turnaround achieved at South African
Airways. He assumes his new duties on January 1.
ALLIANZ WINS "GLOBAL FINANCE" MAGAZINE
"Global Finance" magazine has recognized
Allianz as one of the "World's best insurer in 2002". Based
on the results of its survey to identify the world's best insurers in
2002, Global Finance magazine has honoured Allianz with several
Insurers were chosen for their efforts in regional
and global markets. Allianz was named "Best Liability
Insurer" and the "Best Property Insurer" in Europe.
Allianz was also the winner of regional category: Australia, Germany
Pakistan International Airlines Corp. ("PIAC")
and Citibank Pakistan held a ceremony on Thursday, December 26, 2002
to mark the appointment of Citigroup as the Guaranteed Lender under
the US Eximbank supported financing for the purchase of three new
Boeing 777-200ERs by our national flag carrier.
The ceremony, held at a local hotel, was attended
by Mr. Ahmed Saeed, Managing Director, PIAC, Mr. Zubyr Soomro, Chief
Executive and Country Corporate Officer, Citibank Pakistan, and other
The purchase of these aircraft are proposed to be
financed through a long-term (12 years) foreign currency loan backed
by a guarantee of the United States Export Import Bank ("Eximbank")
subject to obtaining requisite approvals. Total value of the financing
to be arranged under the Eximbank guarantee for the three aircraft is
approximately US $340 million.
PIAC has appointed Citigroup as the Guaranteed
Lender to arrange the above financing for the airline. Citigroup is
one of the world's largest financial institutions with a presence in
over 100 countries providing an array of financial services. Citigroup
is also one of the leading arrangers of aircraft financing with strong
expertise in Export Credit Agency or ECA backed financing.