Hascol raises up to Rs2.5b from Islamic debt market

KARACHI (PR): Hascol Petroleum Limited (Hascol) has raised up to Rs2.5 billion from the Islamic debt market through the issuance of 2nd Islamic Commercial Paper (ICP-2).

Hascol is Pakistan’s second largest oil marketing company (OMC) in terms of volume managed through its state of the art more than 170,350MT of oil storages(to be increased to 558,450MT by end of 2018) and 522 retail outlets spread all across Pakistan including AJK. The company is listed on Pakistan Stock Exchange with market capitalization of more than Rs 45 billion. Hascol has issued 2nd tranche of privately placed Islamic Commercial Paper (ICP-2) of Rs 2.5 billion for a tenor of six months in order to fulfill its working capital requirements. ICP-2 is rated ‘A-1” by JCR-Vis Credit Rating Company Limited based on Hascol’s outstanding entity rating of ‘AA-’. BankIslami Pakistan Limited led the transaction as Mandated Lead Advisor &Arranger and also acted as Issuing & Paying Agent. The ICP-2 issue received an overwhelming response from the investors and was oversubscribed.

 

Telenor executives meet Jack Ma

KARACHI (PR): The senior management of Telenor, comprising Telenor Group CEO Sigve Brekke, Telenor Microfinance Bank President & CEO Shahid Mustafa, and Telenor Pakistan CEO Irfan Wahab Khan, met with Alibaba CEO Jack Ma and Ant Financial CEO Eric Jing, besides other senior officials from Alibaba Group and Ant Financial in China’s city Hangzhou last week.

The meeting underscored the significance of a cashless society, especially in the context of a developing country like Pakistan. The officials exchanged thoughts and ideas about digitisation of the world’s financial landscape and looked into more ways the big strategic partnership between Telenor Group and Ant Financial earlier this year could prove more fruitful.

Telenor officials also exchanged thoughts on how digitisation will enhance accessibility to formal financial services in Pakistan. In March this year, Telenor Group entered into an agreement with Ant Financial, formerly known as Alipay, where Ant Financial announced an investment of $184.5m for a 45% stake in Telenor Microfinance Bank (TMB), a subsidiary of Telenor Group, to further develop mobile payment and digital financial services in Pakistan.

 

Adrees elected int’l director of Lions Clubs

 

ISLAMABAD (PR): Chairman and CEO of Sitara Chemical industries Mian Muhammad Adrees was elected as international director of Lions Clubs International.

Lions Clubs is an international welfare organisation which is working for health, hunger, poverty, environmental issues and others in more than 200 countries consisting 1.2 million members. Adrees was elected as international director of Lions Clubs in its 101th international convention in Las Vegas, America. Former president FPCCI Mian Adrees, who has been the philanthropist of many welfare projects  has been serving Lions Clubs for 30 years.

 

APAG sponsors event

 

KARACHI (PR): APAG, Pakistan’s most trusted food company, has celebrated Mother’s Day with great aplomb, sponsoring a special Mother’s Day event through its SMART Mayonnaise and Ketchup brands. The event was organised to celebrate the wonderful bond between children and their mothers. The SMART Sauces Mother’s Day Event was star-studded with many celebrities, designers and media personalities in attendance.

 Prominent personalities included Bushra Ansari, Zeba Bakhtiar, Sonya Hussyn, Sunita Marshal, Zhalay Sarhadi, Maheen Khan, Asad ul Haq, Shaniera Akram, along with their respective families who were excited to share their motherhood experiences. Recognising the strength and courage of mothers in the hardships they undergo, awards and gift hampers were distributed, also supported by APAG’s Smart Mayonnaise & Ketchup.

 

 

Daraz.pk’s Mobile Week

 

KARACHI (PR): Daraz Mobile Week is offering up to 70pc off, timely flash sales and exclusive phone launches from the hottest brands like Mi, Infinix, One Plus, Honor, Oppo, Samsung, Apple and more. Each brand will enjoy its own day with dedicated flash sales for 4pm – 10pm on its most desirable handsets.

Exciting news comes from the cosponsors MI, Infinix, Honor and OnePlus that are launching their top phones exclusively during Daraz Mobile Week.

Users who pay for their Mobile Week orders through their easypaisa mobile account can enter a lucky draw that might just make them the proud owners of an iPhone X. Minimum order value for entry into the lucky draw is Rs 5000.

In addition to jaw dropping deals and discounts from brands, customers can enjoy additional discounts up to 20% from Mobile Week payment partners such as Easypay, Askari Bank and Bank Alfalah.

 

 

Core Group of SMIU’s alumni formed

 

KARACHI (PR): Sindh Madressatul Islam University has formed a 15-member Core Group of SMIU’s alumni belonging to school, college and university in a meeting held the other day at the Senate Hall of SMIU. It was chaired by Dr Muhammad Ali Shaikh, vice chancellor of SMIU.

In the meeting, it was decided that the main task of Core Group of SMIU’s alumni would be to expand its ranks and organise SMIU’s alumnus for formation of SMIU’s Alumni Council.

Addressing the meeting, Dr Muhammad Ali Shaikh said that it was a matter of happiness for him that a large number of old students of this historic institution, who have studied over here from 1957 to 2017, have attended the meeting and shown their love and reverence for their alma-mater. He said that SMIU wants to reunite its alumni and refresh their association with SMIU. In this respect, a Core Group of SMIU’s alumni will launch a membership campaign for bringing old students of its school, college and university on one platform. After that, SMIU’s Alumni Council will be formed in the next a few months.