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.
SEMINAR ON MUTUAL FUNDS
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 AIMS TO SPREAD COMPUTER
"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
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
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.
APT CULTURAL SHOW
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
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
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.
TELENOR, UFONE, WARID LAUNCH MMS
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
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
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
DEUTSCHE BANK INCREASES CAPITAL IN
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.
EXEMPLARY CONTRIBUTION AWARD FOR ZAFAR
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.