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

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KARACHI
Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
LAHORE
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
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Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
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updated: Fri - Sun 23-25 Dec, 2005

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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

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IN THE NEWS
. INTERNATIONAL
. PAKISTAN
 

 

 

 

 
  ANNOUNCEMENT

Dec 26 - Jan 01, 2006

PAK OMAN HOLDS 22ND BOARD MEETING

The 22nd Board Meeting of Pak Oman Investment Company Limited (Pak Oman) was held in Muscat, Oman on December 17, 2005. The meeting was presided over by the Chairman H.E. Yahya Al-Jabri, and attended by directors Dr. Waqar Masood Khan, H.E. Nasser Al-Jashmi, Mr. Ahmed Al-Wahaibi, Mr. Humayun Murad and Mr. Zafar Iqbal.

The Board of Directors approved a 100% rights issue, to increase the Company's paid-up capital to Rs. 3 billion. Both governments in their capacity as joint venture partners have already agreed to increase their respective equity in the Company.

The Board also approved the Company's Business Plan for the year 2006. The salient points of discussion included MD Pak Oman Mr. Zafar Iqbal's briefing to the Board, on the status of various projects and ventures.

To date, the Board of Directors has endorsed total financing of Rs 7.5 billion (US$ 126 million) spread across a diversified client and sector base. The Board expressed its unanimous appreciation for Pak Oman's Risk Evaluation strategy that has facilitated a recovery rate of almost 100% during the year.

The Managing Director updated the Board regarding the progress on Pak Oman Microfinance Bank and the setting up of an Asset Management Company. The Board appreciated the establishment of Pak Oman's Muscat branch which is now operational.

Pak Oman has maintained a credit rating of AA+ (Double A Plus) for medium to long term and has been assigned a corporate governance rating of CGR - 9 by JCR - VIS Credit Rating Company Ltd.

EMIRATES' 6TH DESTINATION IN INDIA

Emirates, one of the world's fastest growing international airlines, has announced it will start services between Dubai and India's Thiruvananthapuram International Airport from 1st February 2006. On the same day, the airline will also boost services to two other major Indian cities - Cochin and Chennai.

Emirates will fly eight times a week to Thiruvananthapuram, its sixth destination in India and second city in the state of Kerala after Cochin. On the route, the airline intends to operate its modern Airbus A330-200 in a three-class configuration offering seats in First, Business and Economy classes, as well as the B777-200 aircraft in a two-class configuration. Both wide-bodied aircraft offer industry-leading comforts including ergonomically designed seats, and personal entertainment systems in all classes.

On 1st February 2006, Emirates will also increase its service to Cochin from five-a-week to a daily service; and add four more flights to Chennai to serve the city eight times a week.

HH Sheikh Ahmed bin Saeed Al-Maktoum, Emirates Chairman, said: "Air transport links form the foundation on which commerce can prosper and on which friendly relations are built. We welcome our new links with Thiruvananthapuram and look forward to growing that relationship as we have done with the cities of Cochin and Chennai."

In Thiruvananthapuram, the capital city of the state of Kerala, Emirates will invest in a dedicated sales office to provide top-notch service to its customers, and recruit over 25 staff to manage passenger, airport and cargo operations. The airline also intends to hire more staff in Cochin and Chennai to support its expanded operations.

India is already one of the UAE's top five major trading partners with total trade volume chalking up over AED 13 billion in 2003. Bilateral ties between both the countries continue to strengthen with each passing year.

Emirates currently operates 43 non-stop flights a week between Dubai and India - 19 to Mumbai, seven to Delhi, four to Chennai, five to Cochin and eight to Hyderabad.

EBM GETS INVESTORS IN PEOPLE AWARD

The country's leading biscuits manufacturer, EBM, has been granted the highly recognized Investors in People Award, adding to its previous prestigious certifications. Investors in People (IIP) UK is an organization that has developed this international human resource best practice standard, that currently operates in 26 countries around the world. The standard is expressed in 12 indicators of good practice that are based on research as to how leading organizations manage and develop their people.

"Everyone agrees that people are an organization's greatest asset, and we all know that for an organization to succeed everyone has to perform well," stated Khawar Butt, the Managing Director of EBM. "To achieve this, people need the right knowledge, skills and motivation to work efficiently. The Investors in People Standard provides the framework to ensure that this is achieved," he added.

An Investor in People develops effective strategies to improve the performance of the organization through its people. Learning and development is planned to achieve the organization's objectives and the strategies for managing people are designed to promote quality of opportunity in the development of the organization's people. The Standard ensures that people's contribution to the organization is recognized and valued. Further, it encourages people to take ownership and responsibility by being involved in decision-making.

"The project team at EBM worked very hard to meet IIP requirement like Business Plan, Training Need Analysis (TNA), Employee Development & Evaluation Manual and so on and we are proud to be the recipients of the IIP Award," said Saadia Naveed, Director Operations of EBM.

EBM is amongst a handful of Pakistani companies and the only one in its industry to have achieved this award. EBM also holds ISO 9001, ISO 14001 and HACCP certifications.

SHABBIR TILES & CERAMICS LIMITED

Founded by the House of Habib in 1978 with strategic and technical collaboration with Agrob Anlagenbau GmbH of West Germany, Shabbir Tiles & Ceramics Ltd was the first private sector enterprise in the ceramic field in Pakistan.

The Company is listed at Karachi, Lahore and Islamabad stock exchanges and is also a member of Karachi Chamber of Commerce & Industry, Pakistan Ceramics & Sanitary Manufacturer's Association, Pakistan Sanitary Merchants Association and Landhi Association of Trade & Industry.

The Company Brand "STILE" enjoys leading position in the Ceramic Tiles industry in Pakistan, as its products are of international quality standards and it believes in constant product development. It offers wide range of sizes, colors, and designs in ceramic tiles and other allied products, conforming to high quality standards of durability and aesthetic value.

The Company has successfully diversified into some allied building material products and it has achieved considerable success in marketing DIY (Do It Yourself) products of a renowned company from U.S.A. namely Laticrete International Inc., which has appointed the company as an Exclusive Licensee for Pakistan. It is also marketing latest designs of high quality Ceramic and Porcelain Floor Tiles, Sanitary Fittings and Bathroom Accessories under its popular brand name of "STILE" in association with International Partners. The Company will soon be launching marketing of Sanitary Ware products under its renowned, Brand "STILE".

The Company has strong dealers and distribution network, spread all over Pakistan and maintains it's Sales Offices at Karachi, Lahore, Multan, Faisalabad, Islamabad and Peshawar.

The Company is utilizing its full production capacity to manufacture 2.8 million sq. meters Per annum of ceramic tiles of international quality in different sizes and colors, employing the latest technology and state-of-the-art machinery imported from Italy. It has plans for further expansion in its production capacity.

Shabbir Tiles has obtained latest version of Certification of Quality Management System under ISO 9001:2000 from Lloyd Quality Assurance. The Company was amongst the top 25 Companies in Pakistan and was awarded Trophy and Shield by Karachi Stock Exchange in recognition of its performance. Management Association of Pakistan awarded prestigious Certificate of Corporate Excellence for two consecutive years.

The STCL plant, based in Karachi, incorporates the latest European technologies & techniques to manufacture high gloss tiles that conform to European standards. With major expansion in 1999 to our production plant, Alhamdolillah, the company has an annual installed capacity of over two million square meters. Enjoying brand leadership and the largest network of dealers and outlets in Pakistan Shabbir Tiles & Ceramics Ltd through a concerted, conscious effort is a professionally managed company today.

 
 

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