Oct 27 - Nov 02, 2003

 

UBL AGREEMENT WITH ORIX LEASING AND ABN AMRO BANK

United Bank Limited, ORIX Leasing Pakistan and ABN AMRO Bank have signed a Point of Sale Network sharing agreement recently at the UBL Head Office. Under the agreement ORIX will provide United Bank Limited with state-of-the-art multiple card accepting Point of Sales terminals for the Bank's Debit Card users. Mr. Amir Zafar Khan, President UBL, Mr. Humayun Murad, Chief Executive ORIX Leasing Pakistan Limited and Mr. Naved A. Khan, Country Representative ABN AMRO Bank signed the agreement.
Under the agreement, UBL would be the Issuing Bank, ABN AMRO would be the Acquiring/Settlement Bank while ORIX Leasing would be the Network provider.

 

 

BUY GOLD AND WIN MORE AT RUSH FESTIVAL

World Gold Council, the organizer of Gold Shopping Festival "GOLD RUSH" clarifies to all its customers that on every purchase of gold jewellery worth Rs. 5,000, customer is entitled for a coupon.

It was been reported that some participating jewelers are issuing only one coupon on the purchase of even Rs. 15,000.00 to Rs. 25,000.00. Therefore, World Gold council clearly informs all jewellery buyers that consumers should ask for coupon for every Rs. 5,000.00 they pay to their jeweler. If a customer purchase gold Rs. 10,000.00 then he or she is entitled for 2 coupons and so on.

LG ELECTRONICS UNVEILS THE LARGEST EVER 76 INCHES TV

LG Electronics cemented its position as the leading manufacturer of plasma-display panel (PDP) TV after announcing that it has developed the world's largest-screen PDP TV.

Using innovative homegrown technologies, LG Electronics outpaced the size of the 71-inch PDP TV (previously the world's largest) that it had recently unveiled in July 2003, but the new PDP-TV is larger by five inches, thereby breaking its own record in only three months.

The 76-inch PDP TV features a superior-quality full-definition screen, with 2.07 million pixels and 1920 x 1080 super high-definition range. The product also boasts of an 83-mm thick super-slim design, making it the most advanced TV in terms of screen quality, size, and thickness.

WORLD BANK CONSULTANT VISITS ICCI

Dr. A. Cox Edwards, World Bank Consultant, called on Islamabad Chamber of Commerce and Industry (ICCI) and discussed the parameters of her study concerning Rural Factor Markets in Pakistan. The study is designed to examine the performance of rural factor markets and will include integrated studies of land, water, labour and rural financial markets. As a first phase of this study seven background studies have already been completed on the performance of all factor markets.

The Acting President of ICCI Chaudhry Mukhtar Ahmad welcomed Dr. Aljendra Edwards on behalf of the Chamber. He was assisted by ICCI Vice President Rashid Humayun and several other prominent businessmen joined in the discussion concerning the study and expressed their points of view. Those included in the discussion were Messrs Aftab Akhtar, Advisor to the President, Mahboob Elahi, Sohail Malik, Sh. Tariq Sadiq and Asad Farid. They represented the sectors of textiles, food products, hotel management and construction, which were relevant to the study being conducted by the World Bank Consultant.

INTERTEXTILE AUTUMN

The 9th China International Trade Fair for Hometextiles and Accessories (Intertextile Autumn) opened at Shanghai. Which is the largest international textile fair in Asia.

Over 260 companies from around the world are participating in Intertextile this year, with huge pavilions set up by manufacturers from Hangzhou, Guangdao, Changzhou and Hong Kong, along with major European manufacturers and supplies of textiles, fabrics, chemicals and accessories.

According to Messe Frankfurt, the organizers of Intertextile Fair, China is set to experience massive growth in the home textile industry as it prepares for the 2008 Olympics and 2010 World Expo, developing hotels, sporting facilities and tourist destinations across the country. For overseas exporters, China offers an exciting opportunity for export and business ventures as its current imports of textile are around $12 billion are expected to double in the next few years.

Pakistan is the only Asian country with National Pavilion in Intertextile along with Germany and France which are participating under their respective export promotion organizations.

VISIT OF SAUDI BUSINESSMEN

As a consequence of the Minister of State, Mr. Tariq Ikram's visit to Saudi Arabia, it has been agreed that a high powered delegation of Saudi importers, exporters and investors will visit Pakistan in the first quarter of 2004. All such Pakistani companies wishing to pursue trading and joint ventures in any field, in Pakistan or Saudi Arabia, should earliest (but not later than end November 2003) contact EPB and provide the following information; product sectors for trading and nature of Joint Venture desired/sector, profile of business alongwith company brochure and a brief write up on current activities and size of operation in Pakistan, name of bankers and auditors. Whilst any sector will be acceptable those suggested by EPB relate to export-oriented investment in setting up or expansion of vertically integrated large size textile and garments, par boiled rice production of world-class quality investment in leather/products/garments, expansion/set up of world-class surgical goods, sports goods and carpet industry.

 

 

Saudi Arabia is now one of the largest producers of machine made carpets and joint venture in marketing and/or production can be considered. Other areas of investment and trading include tuna fishing with Saudi investment in long liners and technology joint venture with Sri Lanka etc., fish/shrimp farming, apple growing, grading and packaging, mango pulp, rice value-added products, automated large scale gold/studded jewellery production, quarrying of marble and granite and cutting and polishing thereof, auto parts production, furniture production, technical and automated farming, growing and export of flowers, pharmaceuticals production, JVs with construction companies to benefit from Iraqi and Afghanistan reconstruction, railways, back office IT projects, software houses.

SECY PETROLEUM VISITS PSO, APPRECIATES PERFORMANCE

Secretary Petroleum Mr Abdullah Yousuf recently, visited the PSO House and reviewed the outstanding performance of the blue chip entity with senior management. Executive Directors and General Managers made presentations on the occasion.

Addressing the senior management, the secretary said that PSO had made remarkable progress, which was due to the inspiring leadership of the Managing Director and the teamwork under his expert guidance.

"I hope that the same zeal and spirit will continue after the privatization of the company," he said, adding that the quality of presentations made by the company always amazed him.

LA MUSE - THE GODDESS OF ART!!!

La Muse... A forum where the height of creativity in multimedia technology could be seen in different dimensions like Print Campaign, Web Designing, Video Editing/Video Composting, 2D and 3D Animation, Multimedia Authoring.

Arena Defence organized an amazing multimedia work exhibition on 10th-11th October 2003. The students of all semesters participated in this program to show the multimedia creativity and innovations.

The inauguration of the exhibition took place by Mr. Arshad Khalil, Master Franchisee, Arena Multimedia-Pakistan Operations. The Jury†Panel included experts from ARY, GEO, R-Lintas, CMC, Orient McCann, FM 107 and Indus Music. The Chief Guest was Mr. Shehzad Nawaz, Group Creative Director (Jang Group) also an ex Arenian. The members of Jury and the Chief guest appreciated students efforts and also provided valuable inputs to improve the work in future.

The winners of the exhibition are as follows:

•Desktop Publishing/Waheed Nasir (Illustration and manual sketches)
•2D/3D Animation/Saleem Khan (Rude Water Project)
•Vdeo diting/Shoeb & Umair (Play on Multimedia in Trouble)
•Web Designing/Abdul Matin (Website on Islam)
•Multimedia Authoring/Amjad Mughal (Gallery of student work)

HUBCO DONATES 2 AMBULANCES TO EDHI TRUST

The Hub Power Company recently made a donation of two brand new, fully equipped ambulances to the Edhi trust for operation in the Hub and Gadani areas.

Vince Harris, the Chief Executive of Hubco, accompanied by other company officials, visited the Bilquis Edhi centre in Clifton area and handed over the two ambulances to Maulana Abdul Sattar Edhi.

"This donation is a further enhancement to Hubco's very active social action program and we are again honored to be able to play our part for the health care of the people living in the areas adjoining our plant," said Vince Harris, Chief Executive of Hubco.

The Hubco team was taken on a tour of the centre by Maulana Edhi himself who explained the working of the centre and also the operations of the Edhi trust all over Pakistan.

"We are grateful to Hubco for this donation, which is a fine example for others to follow," remarked Maulana Abdul Sattar Edhi.

BEACH CLEANING AT SANDSPIT BY SUI SOUTHERN GAS COMPANY

Sui Southern Gas Company organized a beach cleaning activity at Sandspit in coordination with WWF-Pakistan, as part of its Corporate Social Responsibility Initiative.

Sui Southern Gas Company mobilized school children through WWF-Pakistan and sponsored the whole programme. About 300 students of various schools, participated in the beach cleaning activity, alongwith officials of the company. Solid waste, especially plastic particles, polythene bags etc were removed from the beach.

 

 

AFGHANISTAN INTERNATIONAL BANK

ING Institutional and Government Advisory group has announced that it has been mandated to establish and manage a new bank for Afghanistan.

ING and a consortium of investors have submitted the license application to set-up the Afghanistan International Bank to Da Afghanistan Bank, Afghanistan's Central Bank, to receive approval under the commercial and central banking laws ratified on 16th September 2003. Upon approval, the Afghanistan International Bank will be one of the first local Afghan commercial banks to be set-up in the last 23 years.

ING will manage the bank and provide senior management executives, including a Chief Executive Officer and Chief Operating Officer. The Afghanistan International Bank will initially be capitalised at US$10 million, and managed by ING for an initial three year period. The bank aims to become a model bank in Afghanistan, established and managed in accordance with international best practice.

DHL LAUNCHES FAST FORWARD

DHL Express, the global market leader of the international express industry, recently announced it has launched Fast Forward, a revolutionary new service that will bring efficiency and deliver cost savings for customers across Asia Pacific, who have the need to move heavy weight packages to and from 220 countries around the world.

Fast Forward facilitates the import and export of shipments weighing 20kg and above and provides significant savings with a wide range of innovative and flexible solutions designed to assist customers in managing their factory-to-customer logistics chain.

"The launch of DHL Fast Forward is backed by extensive and robust primary and secondary research, which highlighted customers' priorities and issues, and indicated untapped market opportunities in the heavy weight packages market. Based on the findings of the research, we examined the conventional handling of heavy weight packages which involved multi-parties, multi-currencies arrangements and mapped out areas where DHL can offer additional values drawing on our experience. This process has led us to the development of Fast Forward, a revolutionary one-stop service that provides customers with greater cost transparencies, savings, convenience, flexibility, security and speed, thus allowing them to focus on their core business. No longer does the world have to wait for heavy goods," said John Mullen, DHL's Chief Executive Officer for Asia Pacific.

 

 

Fast Forward's one-stop and transparent approach is underscored by an online cost comparison tool available at www.fastforward.dhl.com. Customers can use the tool to quickly compare costs of their current shipping method and those of Fast Forward, and to assess the potential savings and other benefits of using Fast Forward.

Another feature of Fast Forward is Trade Automation Services (TAS), an online platform that leverages DHL's in-depth experience in customs compliance and advance technology to assist customers with clearing customs. TAS provides comprehensive trade and customs information in 50 key countries worldwide, calculates total landed costs of a shipment (including duty, tax and other customs related charges), generates import and export documentation, screens senders and receivers against government lists pertaining to embargoes and sanctions, and compares an item's export and import clearance costs and regulations to enable qualified sourcing decisions.

"With Fast Forward, DHL is able to change the pace at which the world works. Customers' demands for alternatives can now be met. Given the combined strength of the new DHL and our experience and expertise in developing new solutions to facilitate trade and movement, we believe that Fast Forward will set a new standard for the market" said John Pearson, Commercial Director, DHL Express.

DHL is running an integrated advertising and promotional campaign. The campaign is starting on 20th October 2003 in Pakistan.

MCB TOWER

A high power delegation headed by H.E. Dr. Fong Chan Onn, Minister of Human Resources, Malaysia visited under construction 27 storeys MCB Tower to inspect the expertise of Pakistani Architecture.