Nov 29 - Dec 05, 2004

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ATLAS ASSET MANAGEMENT LEADS THE WAY WITH LAUNCH OF TWO NEW MUTUAL FUNDS

Atlas Asset Management Ltd. an Atlas Group company launched two new funds in an impressive ceremony at the local hotel recently. The Atlas Stock Market Fund (ASMF), an open-ended equity fund and the Atlas Fund of Funds (AFF), a closed-end fund were the two new products launched. The Atlas Fund of Funds will be Pakistan's First Fund of Funds, with a unique investment strategy of investing primarily in the mutual fund sector. The IPO dates will be November 23-26, 2004 for ASMF and December 13-16, 2004 for AFF. As of November 20, 2004 the funds under management of AAML stand at Rs. 570 million, which reflects an increase of90% in a short period of seven months. The two new funds will

 

 

collectively add Rs.1,150 million to the fund size and the total funds under management will surge to Rs. 1.7 billion approximately.

Mr. Ishrat Hussain, Governor State Bank of Pakistan was the chief guest on the occasion and Mr. Peter Alexander Smyth, Regional General Manager, ING Asia-Pacific specially flew in from overseas to attend the launching ceremony, which was attended by heads of all key institutions from all over Pakistan. The SECP was represented by Mr. Abdul Rahman Qureshi.

HP UNVEILS NEW CONSUMER DIGITAL EXPERIENCES IN PAKISTAN

HP announced its expansion into digital photography segments with a range of offerings, designed to make a consumer's digital lifestyle simple and rewarding. The offerings are aimed at bringing consumers a total, (not just product,) digital experience with a full range of products and solutions including digital cameras, photo printers and all-in-ones—scanners, entertainment-based notebooks and desktop PCs.

"HP is committed to delivering enjoyable personal experiences for consumers in Asia-Pacific through innovative offerings, services and partnerships," said Sales Director for Asia Emerging Countries of the Imaging and Printing Asia Pacific, Hewlett-Packard, Mohammad Altaf Khan. "Our focus is to help consumers be more productive and enjoy more of life by delivering simple and rewarding experiences in digital photography."

NCR CALLS FOR NOMINATIONS FOR SIXTH ANNUAL NCR NATIONAL IT EXCELLENCE AWARDS

NCR Corporation (NYSE: NCR) announced that it is accepting nominations for the sixth annual NCR National IT Excellence Awards. The awards are intended to recognize outstanding information technology (IT) professionals in ten different categories from all over the country.

"The awards have developed into a symbol of prestige and recognition across the country in general and in the IT industry in particular," said Syed Veqar ul Islam, NCR managing director for Pakistan, Afghanistan and Bangladesh. "The awards are in line with many initiatives NCR Corporation has taken to promote the IT industry of Pakistan."

 

 

The NCR National IT Excellence Awards are considered to be the most prestigious IT awards in Pakistan. These awards have now become an integral part of the IT industry recognizing various professionals in the IT field, including software developers, researchers, electronic and print media journalists, youth, university students, exporters, educationalists, pioneers in the disciplines of IT and lifetime achievers.

The period for consideration for nomination for the awards is from August 2003 to July 2004. All the documents should be completed and submitted before the designated deadline on December 24, 2004, for the nominations to be considered by the judges for evaluation.

The ten categories listed below have been updated to reflect industry changes to cover the entire spectrum of the IT arena, enabling the specialized effort in each category to stand out and be recognized.

1. Software Development
2. Software Export
3. Internet Working (Previously Networking)
4. IT Promotion (Previously IT Pioneer)
5. IT Education (Previously IT Educationalist)
6. IT Research & Development
7. IT Media & Publication
8. IT Youth
9. IT Student
10. Lifetime Achievement Award

SONERL BANK POWERED WITH INTEL® ITANIUM ®2 PROCESSOR BASED SERVERS

Soneri Bank Limited in its ongoing pursuit for technological supremacy marked a milestone of being the first bank in Pakistan to install Intel ® Itanium ®2 processor based servers in its Data Center for the new core banking software applications to achieve 64 bit processing performance.

The hi-tech leap was made possible by deploying Itanium 2 processor-based HP Integrity servers RX 4640's (8-way systems) acquired by the bank through premier Systems, the distributors for HP.

The transfer took place during a deployment ceremony held at Soneri Bank's state-of-the-art Data Center in Karachi, where Mr. Safar Ali Lakhani, President, SBL, Mr. Qamar Wahab SEVP & CFO, SBL, Mr. M. Haider Devjianie, SVP & Head IT Division, SBL Mr. Arshad Raza, CEO Premier Systems, Mr. Osman Maqbool, Strategic Relations Manager of Intel Pakistan Corporation and Mr. Rizwan Alam, Country Manager HP were all present.

THE ASIAN BANKER EXCELLENCE IN RETAIL FINANCIAL SERVICES AWARD 2003

Askari Commercial Bank wins the Best Retail Bank in Pakistan Award for 2003.

Askari Commercial Bank is the "Best Retail Bank in Pakistan" for delivering strong growth numbers in retail banking revenue and profits.

INCREASING FOCUS ON ALTERNATIVE DISTRIBUTION CHANNELS

A regional survey of 7,230 banking customers across the region finds more than 75 percent of Asia's customers to favour easy access to services and short processing time (fast response to customers) over aggressive advertising and promotions in choosing a bank.

Askari Commercial Bank has won the award of Best Retail Bank in Pakistan. The bank picked up the award for its strong retail banking profit growth, comprehensive product offerings, sales capability and risk management systems in place. The award is part of The Asian Banker Excellence in Retail Financial Services Award 2003", organized in conjunction with ACNielsen and Wharton University.

Across the Asia Pacific, 44 bank submitted very detailed and quality submissions that demonstrated a greater level of transparency. The Asian Banker employed a comprehensive scorecard to quantify the banks according to several criteria. Retail banks that lacked transparency were penalized under this new methodology.