unlock value in its investments over the
medium to long term while actively managing risk. Units of Alfalah GHP
Value Fund will be on sale perpetually and its Net Asset Value per
unit (NAV) will be announced on a daily basis.
The fund will serve as an ideal investment vehicle
for retail investors who want to save for their long terms needs and
obligations and will be initially available through selected branches
of Bank Alfalah Ltd.
EMIRATES INDUCTS 80TH AIRCRAFT
One of the world's fastest growing airlines,
Emirates, saw its fleet touch the eighty-mark with the arrival of a
new Boeing 777-300ER (Extended Range).
The aircraft is Emirates' fifth Boeing 77-300ER
from a total of 30 that the airline has on firm order. The remaining
25 Boeing 777-300ERs will be added to the airline's rapidly expanding
fleet by end 2007.
The wide-bodied, twin-aisle aircraft dubbed as one
of the most advanced aircraft in the sky has been specially equipped
to Emirates' demanding standards. Its innovative on-board features
include mood-lighting that helps reset body clocks and minimizes
jetlag; Emirates' Information, Communication and Entertainment (ICE)
system which offers over 500 channels of video and games on demand;
noise cancellation headsets; SMS and e-mail from one's seat and
in-seat five-zone massage system.
Ideal for long-haul routes, the Boeing 777-300ER
aircraft, sporting a 12 meters long Emirates logo on its underside, is
currently operated on services from Dubai to Manila, and Dubai to
Sydney and Auckland, via Bangkok. Later this year the aircraft will be
introduced on router to London Heathrow, Manchester, Glasgow,
Johannesburg and Dusseldorf.
PANASONIC IDEAS FOR LIFE
"With the VIERA flat screen televisions,
Panasonic is going beyond the limits of conventional television and is
setting new standards when it comes to picture quality, tone,
networking and user-friendliness," said Mahmood Naqvi, Director,
Panasonic Marketing Middle East. "Consumers will enjoy a whole
new television viewing experience with the VIERA plasmas, and we are
certain that this product is set to be a hot seller across the highly
competitive Pakistan market."
The LUMIX DMC FX9 digital camera from Panasonic is
the next-generation model of the highly successful MEGA O.I.S (Optical
Image Stabilizer) equipped FX series. The FX9 has total effective
pixels of 6-megapixel. The 2.5-inch large LCD screen of the FX9
provides superior clarity by increasing its resolution to 207K pixels.
Moreover, the camera has a longer battery life that will last 270
"The LUMIX range of cameras have been
designed, keeping in mind various consumer needs. Constant innovation
and use of the most advanced technology to offer the best photography
solution to consumers remains at the core of our overall business
objective. Digital photography has almost replaced the traditional
film based photography, mainly because of the flexibility offered by
digital cameras, and we are focused on catering to the growing demand
in this segment," said Mahmood Naqvi, Director, Panasonic
Marketing Middle East.
The LUMIX DMC-FZ30 is Panasonic's latest 8
megapixel, 12x optical zoom digital camera that also adapts the MEGA
O.I.S. The 12x optical zoom LEICA DC VARIOELMARIT Lens, which has been
handed down since the first launch of the FZ series, underwent further
development to provide even more superb picture rendering. The newly
incorporated Extra Optical Zoom extends the zoom ratio to achieve
15.3x for 5-Megapixel and 19.1 x for 3-Megapixel. Two exclusive rings
on the lens barrel of the FZ30 provide manual control of zooming and
focusing, allowing quick and fine control that cannot be achieved with
button operation. The camera has a 2-inch angle free monitor with a
235 k pixel high resolution LCD that allow the display of images even
in tiny thumbnail size.
Panasonic will also be launching the DMC LXl, 8.4
megapixel, 4x optical zoom full manual compact camera. What
distinguishes the DMC-LXI from the rest is the world's first 16:9 CCD
with 28mm wide angle LEICA DC Lens. The aspect ratio can be easily
selected between 16:9, or 3:2 in addition to the conventional 4:3.
EMIRATES TO ADD TWO MORE FLIGHTS FROM KARACHI
Emirates, one of the world's fastest growing
airlines, is gearing up to increase its services to Pakistan's
commercial hub — Karachi — by adding two extra flights per week,
starting 15t October.
Operating every Monday and Saturday, the additional
flights will boost Emirates services to the destination to 27 flights
per week. The additional flights will provide improved connectivity
for Pakistani travelers heading to destinations beyond Dubai,
particularly to the Middle East region.
Additional flight EK 607 will take off from the
Jinnah International Airport at 14:15 and arrive in Dubai at 15:15.
Inbound flight EK606 will depart Dubai at 10:00, arriving in Karachi
at 13:00. EK 607 will now operate on all days of the week except
Adnan Kazim, Emirates' Vice-President Pakistan,
said: "Emirates and Karachi go back a long way. The award-winning
airline commenced its worldwide operations in October 1985 with
Karachi as its first on-line destination."
"Starting initially with daily flights, the
Dubai-Karachi route has grown in importance over the years",
added Mr. Kazim. "In response to intense demand posed by the
large business community of Karachi - Pakistan's trade and commerce
capital - the airline progressively stepped up its frequencies, which
currently stand at 25 flights per week."
Emirates will operate an Airbus 330-200 on the
route offering 27 seats in Business and 251 seats in Economy class as
well as 14 tonnes in cargo carrying capacity.
Pakistan and Dubai share strong trade and tourism
relations. In 2003, the non-oil trade between the two countries stood
at a robust USD 824 million with perishables, textiles, precious
stones and base metals as the top traded items.
Last calendar year, 187,291 Pakistani visitors
stayed at Dubai's 371 hotels and hotel apartments, placing Pakistan
among the top ten source markets for Dubai's hospitality industry.
Pakistan also emerged as the fifth largest source
market for Emirates' Dubai Summer Surprises (DSS) packages sold across
the airline's network in 2005.
Currently, Emirates offers 36 flights per week from
Dubai to Pakistan including 25 services a week to Karachi, five to
Islamabad, four to Lahore and two to Peshawar.
Emirates was the first international airline to
open a ticketing and reservation office at the Jinnah International
Airport in Karachi.
FIRST MOBILE APPLICATIONS GAMES CONFERENCE
Netpace, one of the leading names in mobile
development and entertainment industry, hosted the first Mobile
Applications Games and Entertainment Conference (MAGEC) in Pakistan on
September 17 at Avari Towers Karachi. The aim behind MAGEC was to
bring the mobile development community at one platform providing them
an opportunity to interact and explore new trends of the mobile
applications development industry.
"The mobile entertainment industry is growing
rapidly. Great opportunities are being predicted for the development
community in the coming days. It's time to share our experiences and
explore the latest market trends to make our presence felt in the
global market," said Mr.Vajih Khan, the CEO at Netpace.
The conference was mainly focused on the analysis
of the rapid penetration of the latest mobile trends like SMS, Picture
Messaging, Video Messaging, entertainment applications and games into
the global market. The presenters also discussed the importance of
reformation of the development strategies in order to quickly overcome
challenges and deliver applications rapidly into an ever changing
Micro miles and Softlux, two other emerging names
of Pakistan's mobile development industry, also participated in the
event. Other highlights of the conference were discussions on insight
into the future of mobile entertainment, industry strengths, its
limitations, latest market trends etc. The conference was followed by
showcase of mobile games and applications developed by Netpace.
The event was attended by Mr.Ata Rehman from
National Bank, Ms. Hamidah Hemani from Spider, Mr. Khurram Ali from FM
100 and other media representatives, besides developers with expertise
in mobile technology.
MAGEC was a step to initiate the culture of meeting
and sharing ideas. Such gatherings should be organized frequently to
create awareness among people about the latest technologies and their
ever-changing market trends.
DR. BASODAN ELECTED UNION BANK CHAIRMAN
The Board of Union Bank Limited, in its meeting
held recently, has unanimously elected Dr. Abdullah Basodan as its
Chairman. Dr. Basodan is the sponsor and major shareholder of Union
He thanked the outgoing Chairman Mr. Mueen Afzal
for his tremendous contributions as the Chairman of the Board and
affirmed continuation of corporate governance standards set by the
outgoing Chairman. He further thanked the Board for their trust in his
Dr. Basodan subsequently addressed the Management
Committee and the employees of Union Bank along with the President and
CEO Mr. Shaukat Tarin. Dr. Basodan appreciated the efforts of the
management and their contribution to the phenomenal success of Union
Bank. He also expressed his confidence in the management to meet the
growing challenges of the banking industry in Pakistan.
"It is a well capitalized bank, with sound
business strategy and competent staff to stand tall amongst its peer
banks," said the newly elected Chairman Dr. Abdullah Basodan and
added, "I want every Union Banker to be proud of his contribution
to the success story of Union Bank and continue to work under the able
and fully supported guidance of Mr. Shaukat Tarin."
The Board of Union Bank Limited in its meeting has
unanimously elected Dr. Abdullah Basodan as its Chairman. Dr. Basodan
is the sponsor and major shareholder of Union Bank.