in the world, will not be able to supply any
influenza vaccines to any market during the suspension, health
officials said. This translates into a worldwide shortage of 48
million doses of the flu vaccine.
GlaxoSmithKline would supply up to 500,000
additional doses to the United States in the next few weeks, drawing
from the small inventory currently unallocated to customers in other
markets. Additionally, GSK would supply up to 3.5 million more doses
by January. In addition to the vaccines, GSK is also increasing
production of Relenza, the company's anti-viral medicine indicated
for the treatment of flu.
RS.100M GRANT BY INDUS MOTOR FOR VENDOR
Indus Motor Company held its 8th Vendors and
Suppliers Convention, where its Chairman, Mr. Ali S. Habib announced
that the company would spend Rs.100 million to support its vendors
in the areas of Human Resource Development, Quality Improvement and
Present at the occasion, the Chief Guest, Mr.
Ramzan Bhatti, Member Customs, Central Board of Revenue (CBR),
appreciated the initiative of IMC by saying, "It is truly
encouraging to see the efforts of IMC and its vendors in
transferring technology and developing the auto industry that has
seen phenomenal growth in the past 3 years.
Expressing the commitment of the government for
the industry, Mr. Ramzan Bhatti said, "The government is keen
on working in close partnership with the industry to develop
policies and regulations that will help the growth of this sector
even further." He appreciated that the auto industry is one of
the largest contributors to the national exchequer.
"With the huge growth taking place in this
sector, the industry and its vendors need to enhance capacity
further and the CBR will do its utmost to remove bottlenecks,
encourage further investment, and provide consistent incentives for
the industry," he added. Mr. Bhatti also recognized the role of
Habib Group and Indus Motor Co. in contributing towards the economic
development of Pakistan.
LG UNVEILS ITS GLOBAL BRAND STRATEGY FOR 2005
Regional and global leaders in digital
technology, LE Electronics held their first ever 'Brand
Communication Conference' recently. The main objective of this
conference was to educate LG subsidiaries across the world about the
vision and mission of establishing the company's image as a premium
The conference also aimed to understand
subsidiaries' problems related to consumers in their respective
regions so that LG can devise strategies which are more
consumer-oriented and bridge the gaps between the consumer and LG
Electronics. In addition, the company also evaluated the performance
of their subsidiaries across the globe.
NBAD AND GIB FINANCE EMIRATES AIRCRAFT
Emirates has signed a GBP 62 million (USD $115
million) financing agreement with the National Bank of Abu Dhabi (NBAD)
and Gulf International Bank (GIB) for a new Airbus A340-500
aircraft. This is the first aircraft to be funded by the two well
known regional banks, signaling a strong vote of confidence in
Emirates' latest A340-500, the world's
longest-range aircraft, is scheduled to be delivered before the end
of this month and will be the airline's seventh of this type.
Powered by Rolls-Royce trent 500 series engines, it will be followed
by another three for a total of 10 Airbus A340-500S ordered by
Emirates. The financing, structured as a sterling operating lease
over A 12-year term, was lead arranged and funded fully by NBAD and
GIB. The weighted average cost of funds was 0.9 per cent over
six-month sterling libor.
Riyaz Peermohamed, Emirates' senior vice
president corporate treasury said: "We are very pleased to see
this first time participation in Emirates funding by these two
highly regarded Abu Dhabi-based banks. This also supports our policy
of opening up new, diversified sources of financing for
The Board of Directors of TeleCard Limited
announced the appointment of Fazal Hussain as new CEO of the company
effective December 1, 2004.
A British national, Mr. Hussain brings with him
vast international experience of managing and leading fast growth
operations in the telecom and IT industry in senior management
Shaheen Air, which was taken over by TAWA
International Inc of Canada in June, has inducted another Boeing 737
in its fleet.
A press release said after starting the operation
of its first Boeing 737 on Karachi-Lahore sector in early November,
the airline inducted second such aircraft, which arrived at the
Quaid-e-Azam International Airport on November 30.