Sep 12 - 18, 2005

 

LG ELECTRONICS, NORTEL SIGN DEFINITIVE AGREEMENT

LG Electronics and Nortel signed a definitive agreement to form a joint venture that will offer telecom and networking solutions in the wireline, optical, wireless and enterprise areas for South Korean and global customers.
The agreement was signed in Seoul, South Korea, by S.S. Kim, Chief Executive Officer and Vice Chairman of LG Electronics and Bill Owens, Vice-chairman and Chief Executive Officer of Nortel. The joint venture will be tentatively named LG-Nortel Co. Ltd. This entity will combine the telecommunication infrastructure business of LG Electronics and the distribution and service business of Nortel in South Korea.

The LG-Nortel joint venture will support the strategies of both companies for ongoing development of leading-edge wireline, optical, wireless and enterprise communications and networking solutions to ignite and power global commerce. It will also reflect the companies' commitment to leveraging best-in-class resources and expertise by joining forces with leading players in key markets, while harnessing the technology leadership of South Korea.

PRESIDENT ADB VISITS KHUSHHALI BANK

Haruhiko Kuroda, President Asian Development Bank (ADB) and other senior members of the ADB's resident mission met with Khushhali Bank (KB) President Ghalib Nishtar in Islamabad. On their visit, ADB officials were apprised of the Bank's operations and achievements thus far.

In his welcome address, President KB Ghalib Nishtar, appreciated ADB's unerring support towards the poverty in Pakistan, which has led to the creation of KB. Nishtar thanked the Government of Pakistan (GoP) and ADB for their commitment and partnership towards bringing poverty alleviation to the forefront of the country's economic revival. While praising the efforts of ADB teams responsible for the development of KB's model, Nishtar said that KB was established as an integral part of the poverty alleviation program being pursued by GoP. 'It is designed to deliver sustainable community based services at a retail level, he added.

Furthermore, Nishtar informed that expansion of outreach to women, building capacity of communities and providing access to basic infrastructure were also key components of the bank's strategy. He apprised the visitors of the bank's ongoing institution building and operational expansion initiatives to enable a unique state-of-the-art pro-poor delivery system, which in a short period of time has gone ahead to become the largest network of its kind, spanning across 75 districts. 'KB has serviced over 344,000 accounts with over 30% women clients; and with nearly half of the bank's salesforce comprising women operating across rural and urban territories. KB also offers a scaleable model with great replication potential for our neighbours in the region, he said.

MCB AT THE FOREFRONT OF PROMOTING HOCKEY

MCB has been promoting sports in the country and when it comes to promoting the national game, hockey, it gains a lot more importance. This was stated by Mr. Mohammad Aftab Manzoor, President & Chief Executive of MCB Bank Ltd during a luncheon held for the players of MCB Shan-e-Punjab hockey team at MCB Tower. MCB is the sponsor of Shan-e-Punjab hockey team which is one of the six teams participating in the upcoming Super Hockey League, starting from September 08. Players of Indian Hockey team, participating in the leaguem, were especially invited at the reception along with the senior officials of Pakistan Hockey Federation.

Mr. Manzoor appreciated the efforts of PHF in revitalizing hockey in the country by taking the initiative of Super Hockey League. He said that the joint efforts of Pakistan Hockey Federation and organizations like MCB would surely help revive interest in the game among sports lovers and improve the standard of game in the country.

MCB Shan-e-Punjab hockey team comprises some of national heroes and therefore it would provide an opportunity to youngsters to improve their standard of game by playing & competing with them. Officials of PHF praised MCB for its support for the promotion of national game and hoped that others too will follow in the footsteps of MCB in supporting such events.

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"ECONOMICS

A NEW DIMENSION

All Cretures dead or alive, moving or still, moveable or imaverable are from unknown to knows. Non existence of knows in the condition precedent for existence. In other words the origin is puimanily unknown and unseen and when it becomes known it completes the life duration and again gas back to its origin. It is a truth that evening known becomes unknown after certain duration (death) and goes back to its substance. It proves that every known has to taste the taste of morality of life. This process is continuously and repeatedly repeated according to national phenomena.

Once we agree that every thing in this universe is a shades and not substance and their lives or lining spas is short we should preferably have a tentative short term programmed to achieve economic satisfaction. A journey of short distance needs passer belongings than long distance journey. During our short stay at every HALT avoid to manage permanent arrangement. This tendency leads to better are of resources and give us full economic convenience.

`Resources created are the estimation of lows of nature so they are always reasonable and are never limited and do not create scarcity problem. The substance being the out come of nature are always proportionate to our wants and create a balance in reasonable wants and proportionate resources. Resources are responsive and proportionate to our requirements. For example proportionate organ according to human body different water level and depth of sea, difference in fertility and productivity of laud, and the existence of mountains etc. Nature maintains this proportion economies says that we should live within this proportion and satisfy our wants.

Economies is a science of creating a balance in between proportionate resources and appropriate wants. It does not ensure to satisfy out dreams. It tells us to make best use of resources with the aim to satisfy our wants. She concept of proportioned resources encourage the doctrine of alternate are of goods and services. She proatice of this idea eliminate the uneconomic and useless goods and services from our life. Resources being proportionate create a balance in our life and it does not create scarcity problem.

Economies tells is how to satiety our manor wants. It is a seine of reality. She reality is that this world is a temporary HALT and the way to spent a better life low of nature of Economics It is not a seines of scarcity. Our concen tration an proportionate resources for satisfaction of appropriate wants will bring us to the road of prosperity liy eliminating uneconomic labour, wastages, in economic consumption, luxury, status and prestige hunger, and many other uneconomic goods etc.

ARWEN TECH BECOMES FIRST CISCO SILVER PARTNER IN PAKISTAN

Arwen Tech is the first company from Pakistan to obtain Silver Certification from Cisco Systems. This certification signifies that Arwen Tech has passed stringent technical support and system integration requirements which are mandatory for this certification and is able to resell Cisco products in Gulf and Saudi Arabia.

The Cisco Channel Partner Program offers its certified partners state-of-the-art technical as well as sales training. As a Silver Certified Partner Arwen Tech is recognized and rewarded for having some of the industry's best trained network technicians who are capable of achieving and demonstrating a high level of expertise in planning, designing, implementing and supporting Cisco network solutions.

Receiving this honor highlights Arwen Tech's commitment to continually offer its customers a high level of product knowledge, technical expertise and service capabilities. The combined front will also provide world-class business solutions that help companies be more responsive, productive and profitable.

Cisco Systems Inc. is the worldwide leader in networking for the Internet. The company is one of the pioneers in the development of Internet Protocol (IP)-based networking technologies. Being a leader in Wireless LAN and IP Telephony in Pakistan, Arwen Tech has secured the training, skills and knowledge to play an essential role in accelerating the adoption of Cisco technology solutions in the region.

Arwen Tech is one of the leaders of Pakistan's IT industry and excels in managing and supporting emerging technologies, proven industry-leading platforms and applications. The company invests in the success of its customers by providing solutions and services to organizations that escort them from process design to deployment and operation. Arwen Tech also leads as the introducer of IP-based networking technologies in Pakistan.

SHAHEEN AIR TO FLY TO USA & UK

Shaheen Air has been allowed to fly to USA & UK as a result of recent modification in the aviation policy by the Ministry of Defence and CAA. Farooq Nasir, Manager Public Relations of Shaheen Air, informed that it will not only give the passengers multiple choice, more connecting options and improved customer services at more competitive fares but will also be the source of bringing foreign investment and foreign exchange in the country.

Farooq further told that Shaheen Air is the only private carrier that is allowed to fly to USA, with 3 weekly flights, besides other international routes e.g. UK, which were also given to other private airlines. Six more weekly frequencies to Kuwait were also allocated to Shaheen where at present no other Pakistani private airline operates. Permission to extend 13 additional frequencies to UAE, 9 to Oman and 1 to Qatar has also been granted. "We are also expecting to get the permission to operate 7 flights per week to India, 3 to Canada, 6 to Saudi Arabia, 4 to Cyprus and 2 weekly flights each to Malaysia, Sri Lanka, Thailand, Bangladesh and Afghanistan, subsequent to expansion of bilateral framework with other countries," he added.

According to Manager PR, Shaheen has finalized market research and the feasibility studies for route expansion and intend to operate to USA and UK by this winter. "To serve that purpose we are considering various long haul, fuel efficient, wide bodied, modern and comfortable aircraft, in line with our operational and commercial requirements for each route." The major part of the aircraft deal is expected to be finalized within next two months, he added.

SUPER HOCKEY LEAGUE: SAUDI PAK BANK UNVEILS TEAM SPONSORSHIP

Saudi Pak Bank proudly unveiled the Saudi Pak Northern Cavaliers Hockey Team for the Super Hockey League 2005, at an energetic and impressive ceremony at the Avari Towers Hotel on September 6. The Super Hockey League 2005 was scheduled from the 8th of September at the Hockey Club of Pakistan Stadium.

This sponsorship is one aspect of Saudi Pak Bank's multifaceted strategy of substantially contributing to society in general and reinvigorating the waning sport of hockey in Pakistan. The Saudi Pak Northern Cavaliers, a team that will represent the Northern Areas of Pakistan is aided by the services of international forward Rehan Butt, arguably the best hockey player in Pakistan at present. In addition, the Cavalier's squad will include Indian nternational player Arjun Halappa. Reputedly one of the strongest teams in the tournament, they have been pegged as the team to watch with their attacking style of play, solid defense and a goalkeeper known to be miserly at conceding goals.

Mr. Mansoor M. Khan, President & CEO of Saudi Pak Bank, presided over the event. Also present on the occasion were Mr. Aarij Ali, head of Business Development, Ms. Mariam Paracha, head of Corporate Communication and senior management of the Bank.

Speaking on the occasion, Mr. Mansoor M. Khan, President & CEO of Saudi Pak Bank and a former hockey player himself, underlined his Bank's commitment to support and nurture worthy causes. He explained that in partnership with the Pakistan Hockey Federation, the Saudi Pak Bank is determined to give much needed boost to the sport of hockey by "promoting higher playing standards and giving the young players a chance to display their skills on a wider stage".