MCB-IBM SIGNED AN AGREEMENT
Muslim Commercial Bank Limited and IBM signed an
agreement for the acquisition of IBM state of the art P Series Hardware
Platform for the MCB's E-banking and Core banking systems.
Mr. Mohammad Aftab Manzoor, President, Muslim
Commercial Bank Ltd and Mr. Humayun Bashir, Country General Manager, IBM
signed the agreement. Also present on the occasion were Mr. Amjad
Farooq, Mr. Javed Adhi, Mr. Saulat Mujtaba of MCB and Mr. Shoaib Khan &
Ms. Erum Azher of IBM.
An Event was recently held on "Inspiring Solutions
for the Manufacturing Sector" by Jaffer Business Systems (JBS). The
purpose of the event was to emphasize upon the combination of Intel,
Oracle and JBS as a winning solution for any manufacturing business.
Seen in the picture are Osman Maqbool, Strategic Relations Manager Intel
Pakistan Corporation and Danish Yaqub, Business Manager Oracle Pakistan
Corporation, addressing the occasion.
Khushhalibank recently held a signing ceremony to
mark the induction of HANDS into Khushhalibank Alliance Network to
outsource social service intermediation. Seen in the picture are Ghalib
Nishtar, President Khushhalibank and representatives of HANDS and State
Bank of Pakistan.
Mian Abdul Sattar Laleka, Federal Minister for Labour,
Manpower & Overseas Pakistanis awarding degree to a graduating student
at the 30th Convocation of Preston University, Islamabad Campus.
LALEKA AWARDS DEGREES TO GRADUATING PRESTON STUDENTS
The Federal Minister for Labour, Manpower & Overseas
Pakistanis, Mian Abdul Sattar Laleka has said that adequate and
sustained investment in education is the need of the hour, and this is
mainly the reason why the present government attaches great importance
to this sector. The Minister said this while addressing the graduating
students, senior management and faculty of Preston University,
educationists, intellectuals and high-ranking officials of the civil
bureaucracy at the 30th Convocation of Preston held at a local hotel in
the capital, recently. More than 200 graduates were awarded Masters
degree on the occasion. Mr. Laleka congratulated the graduating students
for successfully accomplishing a very important goal in their
educational career. He also eulogized the role played by the faculty and
management of Preston University in making the students attain this
significant goal in their lives by coaching and mentoring them with
BEST PRESENTED ACCOUNTS' AWARDS
To honour listed companies that come up with the 2002
annual accounts that were best in accounts, information, style, content
and colour, a "Best Presented Accounts Awards" ceremony will be held on
July 25 at Karachi.
Federal Minister for Finance and Economic Affairs
Shaukat Aziz would give away the awards/certificates to the Chief
Executives of the winning companies.
The "Best Presented Accounts" Awards were instituted
and presented to companies in 2000 with a view of promoting good
governance in the corporate sector. The Joint Committee of the Institute
of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost
and Management Accountants of Pakistan (ICMAP) had requested all the
companies, listed on Stock Exchanges to send their publish accounts for
the year 2002. The Joint Committee had also circulated the criteria for
selection for Best Presented Annual Report Awards.
The entire corporate sector has been divided into six
sectors namely (i)
Chemicals & Fertilizer
Fuel & Energy and
The Published annual reports for 2002, which were
received for the contest were evaluated by a Sub Committee comprising
members of the two Institutes and representatives of the Securities &
Exchange Commission of Pakistan (SECP).
UMF DECLARES 10% P.A. DIVIDEND TO IT'S UNIT HOLDERS
United Money Market Fund declared its first annual
dividend of more than Rs. 148 million in the form of bonus units to it's
unit holders. The fund has already demonstrated a tremendous growth in
it's first financial cycle, making UMF the biggest Money Market fund in
Pakistan, by crossing Rs. 1.8 billion land mark.
The United Asset Management Company Limited (UAMCL),
pursuant to its 6th Board meeting held on July 7,2003, declared 8.9875
units for every 100 units held and translates into an annualized yield
The relevant period for profit distribution was from
7th August to 30th June 2003. Thus the income represents a period of 10
months and 24 days. The results were based on the income statement
certified by the auditors within 7 days of the close of the financial
period on 30th June 2003.
In a statement made by the UAMCL Chief Executive Mr.
Shaharyar Ahmad "In our effort to provide maximum returns at minimum
possible risk, the fund has been efficiently investing in all money
market and debt instruments like T-Bills, Government Securities, and
Term Finance Certificates (TFCs), having a low investment risk. Despite,
the fact that UMF is a low risk and fairly liquid fund, it has managed
to distribute an annualized profit at the rate of 10%".
RS. 11 MILLION SCHOOL PROJECT FOR LYARI CHILDREN
Rotary Karachi has undertaken a project to construct
a prestigious school in the low-income area of Lyari on a territory that
belongs to Pakistan Navy and measuring 2,730 square yards, to be built
at a cost of 11 million rupees. This educational institution would be
known as Rotary Club of Karachi/Pakistan Navy Secondary School, with
two-shift schooling from Grade 1 to 10 for both boys and girls.