PUNJMIN to be made a vibrant institution

LAHORE (PR): Punjab Mineral Development Corporation will be made a vibrant institution, in line with Punjab Chief Minister Shahbaz Sharif’s vision.

This was stated by Chairman Punjab Mineral Development Corporation (PUNJMIN) Mian Noman Kabir while addressing the officers of department here Thursday at its office.

Mian Noman Kabir said that restructuring plan will be finalized soon for submission to the committee constituted by the Chief Minister Punjab. In past, there was no check and balance observed for leasing the mines but now no mine will be given on lease without observing codal formalities.

Chairman PUNJMIN Shahbaz Sharif is very keen for the promotion of natural resources and mines across the province. Measures will be adopted to ensure the security of workers of mines, he said. “We are also planning to increase the production of salt mines 3 times.”


SUC opens its door for

aspiring students in Pakistan

LAHORE (PR): More than a hundred of desiring students flocked in the open-day event organized by Skyline University College (SUC) in Lahore that targeted learners and parents who are on the threshold of deciding which path to take in higher education.

The open-day introduced several opportunities to the students such as SUC’s scholarship programs and career placements and internships, SUC hostel facilities which cater particularly to international students, and a comprehensive discourse of SUC admission requirements needed to enter the BBA and MBA program.

The students also had the privilege of getting first-hand advice and counseling from the marketing team headed by SUC Deputy Director for Marketing and Admissions Rakesh Gaur and Assistant Manager for Business Development and Events Rabia Bilal.


Lenovo announces results

LAHORE (PR): Lenovo Group recently announced results for its fourth fiscal quarter and full-year ended March 31, 2016. Lenovo strengthened its core PC business, enhanced its cost structure and protected its profit, despite facing internal and external challenges that impacted revenue, which was $9.1b, down 19pc year-over-year, while annual revenue was $44.9b, down 3 percent year-over-year. At the same time, the largest restructuring program in Lenovo’s history delivered a better cost structure with $690m of savings in the 2nd half of the year, sending 4th quarter PTI up 86pc year-over-year to $193m. Annual loss before tax was $277m. Fourth quarter net income was up 80pc year-over-year to $180m, while full year net loss was $128m, even after $330m in non-cash M&A related accounting charges.

“Last quarter, despite challenging economic and industry conditions that hurt our top line, the decisive actions we took mid-year allowed us to protect our profitability. We kept our core PC business strong, continuously improved profitability in enterprise and saw positive momentum in some key smartphone markets.” said Yang Yuanqing, Lenovo Chairman and CEO. “Facing the operational issues in the businesses, we have already taken a number of proactive actions, including making key decisions in organization, leadership, products and channels to get back to growth in mobile, and adopting a new multi-business operating system to unleash the productivity and creativity of each business. At the same time, we will integrate our traditional strength in end-user devices with our new capabilities in cloud and infrastructure to attack the balanced Device + Cloud opportunities.”


BASF help under privileged students in Pakistan

LAHORE (PR): Employees at BASF are helping make a difference in the lives of 527 children in Pakistan by volunteering at The Citizens Foundation (TCF) Rahbar Mentorship Programme, which primarily aims to promote education among under privileged students. At a seven-week intensive mentorship program powered by TCF, volunteers from BASF provide counselling to help mentees develop a positive thought process, discover their inner strengths and plan to realize personal goals. BASF employees in Pakistan have contributed more than 500 volunteer hours to the program.

“Mentorship is a powerful tool to expose young people to education and opportunities, and at the same time to develop employees’ management and coaching skills. By matching BASF employees with promising young minds, we not only help nurture future leaders but also contribute to improving society in Pakistan,” said Faisal Akhtar, Managing Director, BASF Chemicals & Polymers Pakistan (Private) Limited.


ACCA hosts session on cyber security

KARACHI (PR): Association of Chartered Certified Accountants (ACCA) hosted a session on cyber security in Karachi. The session brought together a panel of lawyers, IT specialists, and finance professionals to disseminate information on how businesses that are victims of cyber crime can seek protection from being sued by customers.

Amongst the panelists were Arif Masud Mirza, Head of Policy MENASA, ACCA; Barrister Zahid Jamil, Senior Partner at Jamil and Jamil; Muhammad Azam Mughal, CEO & Chief Consultant InfoSec; Muhammad Junaid Shekha, CEO at IT Minds; and Haider Patel, Partner Tax at Ernst and Young.


Intelligenes co-founds Monami Tech

KARACHI (PR): Pakistan’s top financial solutions company, Intelligenes has joined forces with UAE’s Monami Group to cofound Monami Tech. Monami Tech has also become a partner of Australian stock exchange listed fintech company, Novatti. The new venture is significant as it brings foreign investment to Pakistan, and becomes the first mover of the most cutting-edge financial services solutions within the country.

With Novatti’sstate-of-the-art fintech products that enable Monami Tech to provide digital wallets, remittances systems, and promote overall financial inclusion, the partnership aims to transform Pakistan’s financial services landscape. With a financial investment from the Monami Group, technical and market expertise of Intelligenes, and Novatti’s proven technology, Monami Tech is in a unique position to drive the region’s market to international consumer fintech standards.

“When it comes to financial services, the Pakistani market presently relies on solutions that are mostly built on old technology and less secure architectures, are expensive to deploy and maintain, and lack the prevalent industry features and support,” said Najam us Saqib, CEOIntelligenes. “The reason why we at Intelligeneshave teamed up with international key players in the digital wallets, payments, and financial services arena is that we want to bring better, more advanced and cost-effective solutions to the Pakistani market so banks can truly encompass a digital strategy,” he added.