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Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)



In oC




Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005




KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1








Dec 19 - 25, 2005


Global and regional digital leader LG Electronics predicts mobile phones will overtake all other entertainment consumer electronics in the next three years as the pace of development in handset features becomes ever more rapid.

LG is the world's fourth most popular mobile phone brand. According to IDC reports, LG clocked sales of 11 million units in the first quarter of 2005 to capture 6.4 per cent market share worldwide. The company has witnessed a year-on-year growth of 26.9 per cent from 2004. LG sold 13.9 million units in the fourth quarter last year and posted a 55.3 per cent year-on-year increase and 17.8 per cent sequential increase.

While mobile phones are quickly becoming all-in-one convergence devices, they have also become fashion statements. To keep pace with trendy consumers, LG is creating its own styles with user-friendly designs closely related to today's mobile lifestyles. Breaking the boundaries of the traditional look, LG's creative deign is redefining mobile style.

"LG's designs are focused on how our consumers live their daily lives. Our goal is to combine design and technology to continuously offer creative yet practical designs," said K H Kim, President, LG Electronics, Middle East and Africa. "LG's latest phones are personalised, customised and user-friendly mobiles and we want to ensure our phones represent fun and convenience," he added.


ICMAP would be organising a seminar on "Mutual Funds: An Investment Opportunity for General Public" on December 19 at Pearl Continental Hotel, Karachi.

Dr. Salman Shah, Advisor to Prime Minister for Finance, Revenue, Economics Affairs & Statistics, Government of Pakistan, would be the chief guest of 1st Session, while Mr. Muhammad Yasin Lakhani, Chairman, Karachi Stock Exchange, will be the chief guest of the valedictory session among the following distinguished guests:

i) Mr. Sher Afgan Malik, FCMA, Member, Board of Directors, Karachi Stock Exchange,

ii) Mr. Zaigham Mahmood Rizvi, Chairman, Mutual Funds Association of Pakistan (MUFAP),

iii) Mr. Sadiq Hussain, Chief Investment Officer, AKD Investment Management Limited,

iv) Mr. Adnan Afaq, Chief Executive Officer, Askari Investment Management Limited,

v) Mr. Yasir Qadri, EVP Head of Marketing, Arif Habib Investment Management Limited.


"State Life Insurance Corporation of Pakistan is providing the financial protection to its millions of valued policyholders and their families nationwide, while at the other end it is fulfilling its obligation of Corporate Social Responsibility by initiating various public service schemes to help bring socio economic change in the country".

This was stated by Mr. Kamal Afsar, Chairman State Life, while briefing the media persons on the occasion of signing of Memorandum of Understanding (MOU) between State Life and Microsoft Pakistan. Mr. Kamal Afsar informed that in line with the present government's initiative of spreading computer literary in the country State Life and Microsoft have been working for past several weeks on an ambitious and innovative project to equip the policyholders of SLIC with computers at an affordable cost. This benefit will be extended as part of their insurance policy benefit to the policyholders of SLIC in an effort by both organizations to collaborate & strive to take the nation to a newer level of computer literacy. He further said that both SLIC and Microsoft will be working together to formalize the specific details of this innovative public private partnership to introduce quality computers with genuine Microsoft Software, support and warranties to the State Life policyholders.

Chairman State Life further said that in today's age digital divide is one of the obvious challenges that we face across Pakistan hindering progress and growth of our nation and we must tackle this challenge effectively.

Mr. Jawwad Rehman, Country Manager, Microsoft Pakistan, said that State Life and Microsoft partnership will offer a great potential to make Pakistan computer literate by making availability of computer education learning, communication and help build the required ICT skills of common people in this day and age of automation in a very cost effective and authentic way.

"Public private partnerships like these are a great vehicle for demonstrating commitment and responsibilities toward our communities and this is a great example established by State Life and Microsoft as partners for others to follow," he added.


Among a shower of vivid colors and lilting folk music, Telenor treated delegates of the APT Conference and General Assembly gathering in Islamabad to a night of cultural festivities titled "Colors of Pakistan". And just as the ceremony reached its climax, President Pervez Musharraf walked in, surprising the delegates.

Organized by the PTA and sponsored by Telenor, Colors of Pakistan showcased rituals and festivals in a three-hour fashion show, highlighting the fusion of tradition and modernity in the Pakistani society today.

The show kicked off with a musical performance by folk artiste Raees and his band on the Tabla. As the delegates settled in, Raees played classical Eastern strings in a great crescendo. Raees cleared the way for folk dancers who performed the twirling Khattak dance along the lilting notes of traditional Pashto music. The delegates were on their feet, snapping away the progress of the dancers on the stage.

From the North of Pakistan, the theme of the show switched gears to the rustic charm of Southern Pakistan. Sehr presented a classical dance number depicting the ancient rhythms of the Indus Valley Civilization.

Later, delegates of the APT Conference and dignitaries from the cellular industry took a trip down memory lane as young models captured the essence of the partition movement, presenting songs and dances sequences based on the Mughal and Colonial era, followed by the Formation of Pakistan.

Amidst a flurry of sudden activity, President Pervez Musharraf walked in and was greeted by Chairman PTA General (R) Shazada Alam Malik. The gathering stood up to give a standing ovation to acknowledge the President's surprise walk-in before he was shown a front row seating to the night's performances. The show resumed on its vibrant note with the performers pouring in their heart and soul in their sequences to impress their honorable guests which now included the Head of State.


Leading mobile phone companies Telenor, Ufone and Warid Telecom have signed an Interconnect Agreement for MMS termination. This would enable the subscribers of all three operators to exchange MMS or multimedia messages with zero interconnect charges. This was stated in a joint press conference of Telenor, Ufone and Warid Telecom in Islamabad.

Addressing the agreement signing ceremony, PTA Chairman General Shazada Alam Malik appreciated the efforts of all three operators in reaching this breakthrough agreement. "This agreement is a significant development in the cellular sector where healthy competition is introducing cutting-edge value added services for customers. Praising the spirit of cooperation, the Chairman further added: "Here are competitors who understand that they are joint stakeholders in the industry, serving the cause of the customer. They are competitors but also partners in the cellular mobile sector."

President and CEO Ufone Mr. Babar Khan said that this is a breakthrough in the cellular industry and will be exciting for the MMS users of the three operators. He also appreciated the efforts of PTA Chairman for his continuous support in the development of telecom industry in Pakistan, which is now moving towards evolution of value added services for the telecom users in Pakistan.

CEO Telenor Pakistan, Tore Johnsen, termed the agreement a "milestone" and said that it was indicative of the growing maturity of the market and the industry. Tore added, "Together we are intent at making it easy for the customers to use advanced services and utilize the real potential of the available technology and the quality of network." He congratulated PTA Chairman on the role PTA has been playing in the development of the sector and in bringing such partnerships to life.

Hamid Farooq, CEO Warid Telecom said, "MMS is one of the most promising and fastest growing value added service at the moment and we expect MMS to have the same growth boom as SMS had in Pakistan. The difference it can create in the messaging service can be compared to the launch of colored television back in late 70s. I am confident that this interconnection agreement shall be the beginning of a durable and long lasting relationship among the three operators. We truly appreciate the continued support PTA is providing to the mobile operators and they have not only promoted investment in the telecom sector but also have substantially protected consumer interests."


Deutsche Bank has announced that it will increase the capital in its business in Pakistan by Euro16.48 million (PKR1,160 million), to a total of Euro 34.96 million (PKR2,462 million).

The capital increase will allow the further development of Deutsche Bank's general business in Pakistan, where the Bank has a successful corporate and investment banking franchise.

"The increase in capital is a sign of our strong commitment to further the development of our business in Pakistan," said Mr Colin Grassie, Deutsche Bank's Chief Executive Officer in Asia Pacific, who announced the increase in Karachi last week.

"Pakistan is a country where Deutsche Bank sees considerable opportunity for expansion," says Mr Grassie. "We are investing by way of additional capital and have also recently moved Shazad Dada from Deutsche Bank in New York as Chief Country Officer and Head of Global Banking, to spearhead our growth strategy in Pakistan. We will build on our client coverage model in Pakistan and are undertaking a strategic review of products and services we can deliver here in the future."

In a separate initiative, Deutsche Bank will also increase its contribution to earthquake relief work in Pakistan to a total of Euro1million (PKR70.4 million), an increase of Euro400,000.


South Asian Management Forum recently presented the Exemplary Contribution Award to Zafar Aziz Osmani, Senior Executive Vice President, Habib Bank Limited, at the South Asian Management Forum Leadership conference organized by the Nutshell Forum.

Zafar Osmani is a Human Resource professional who has made a significant contribution in the field of HR development and reconstruction towards both private and public sectors in Pakistan. He started his career as a civil service officer with the Government of Pakistan and later moved to private sector working in renowned institutions like Exxon Chemicals, Gulf International Bank, Bahrain, American Express Bank in Pakistan and Singapore, Pak Kuwait Investment Company and Habib Bank. His last major assignment with the government was Member HRM at the Central Board of Revenue, where he worked for three years and introduced many modern HR management concepts of long term significance for the first time in the history of civil service in Pakistan.

Zafar Osmani has also been on the last two Pay & Pension Committees and introduced the concept of market based salary for the government employees, that has been adopted as a mid to long term strategy by the Government of Pakistan. He has also served as advisor of corporate restructuring for institutions like Industrial Development Bank of Pakistan and Export Promotion Bureau.

South Asian Management Forum recently presented the Exemplary Contribution Award to Zafar Aziz Osmani, Senior Executive Vice President, Habib Bank Limited at the South Asian Management Forum Leadership Conference organized by the Nutshell Forum. Photo shows Khalid Feroz (R) presenting the award to Zafar Aziz Osmani (L), with Azfar Ahsan, CEO, Nutshell Forum looking on.


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