Meezan Bank bags ‘Best Islamic Bank’ award

KARACHI (PR): Meezan Bank has won the award of ‘Best Islamic Bank in Pakistan’ for 2014 from Islamic Finance News of RED money Group, Malaysia. The Islamic Finance News (IFN) Awards honours the best in the Islamic financial industry across the world and are among the most prestigious and recognized awards in the global Islamic financial markets.

In addition to the Best Islamic Bank in Pakistan award that has been conferred for the 9th time, Meezan Bank has also won Musharakah Deal of the Year award for advising and arranging short term Sukuk of PKR 2 billion for Lalpir Power Limited. This first of its kind Sukuk were innovatively structured on the basis of Musharaka (Shirkat-ul-Aqd). The introduction of the short-term Sukuk by Meezan Bank marks the opening of another much needed avenue for Islamic mutual funds which faces a scarcity of short-term tradable instruments.

IMC sponsors students taking part in int’l competition

KARACHI (Staff Reporter): Indus Motor Company (IMC) has sponsored a group of Pakistani students who would showcase two cars they designed for a global environment event, being held in Philippines from February 25 to March 03.

20 students from National University of Science and Technology (NUST) who designed two vehicles (urban type and prototype) will take part in a competition where the vehicle covering the maximum distance, using least amount of energy, would stand out as a winner.

‘The Prototype category is a concept car that is developed keeping in view the futuristic needs of fuel-efficiency. This three-wheeled vehicle has to be designed keeping a prime focus on drag reduction and maximum fuel efficiency,’ said Hassam Ahmed, team manager of Prototype concept car.

And the Urban category is a conventional four-wheeled vehicle that can match the attributes of a modern-day vehicle with an enhanced efficiency of fuel, informed Mohammad Usama Mumtaz, team manager of Urban type concept car.

Modified 70 cc gasoline engine, carbon fiber body, GPS based solution, safety sensors, proximity sensors and an interactive interface to communicate with the driver are some of the key features of this eco car. ‘We feel it is our responsibility to support this wonderful effort of the country’s youth. This is simply a matter of honor for Indus Motor Company to enable students to represent Pakistan at a prestigious international forum,’ said Parvez Ghias, CEO of IMC. Parvez Ghias added that engineering projects, especially of international stature, are particularly difficult to pursue in a struggling economy and we must encourage our young engineers and entrepreneurs to come forward and lead the way.

OMD Pakistan wins silver award

KARACHI (PR): A leading media agency of the country, OMD Pakistan was awarded silver medal at the campaign Asia-Pacific Agency of the Year Awards 2014. The awards took place at the ITC Grand Central, Mumbai, where the agency was awarded Silver for the prestigious title of “Media Agency of the Year – Pakistan”.

In 2014, OMD Pakistan focused on creating long-term partnerships with clients rooted in values such as service excellence, trust, transparency and commitment. It achieved this goal by providing exceptional levels of service by not just achieving client targets, but exceeding them. Celebrating industry achievements and now in its 20th year, Campaign Asia-Pacific’s Agency of the Year is Asia-Pacific’s most prestigious awards, recognizing inspired leadership, management excellence, outstanding business performance and overall achievements in the region’s advertising and communications industry.

Pakistan to save Rs 600b on reduced oil prices

LAHORE (PR): Receding oil prices has facilitated Pakistan to abide by the IMF conditions while providing relief to masses, an industry expert said Tuesday.

Pakistan needs to improve pace of privatisation and other economic reforms to gain confidence of investors and lenders, said Mian Shahid, Chairman of United International Group.

While inaugurating UIC branch at EPZA, he said that global oil demand has increased by just one hundred thousand million barrel in 2014 which indicate that prices would remain depressed throughout 2015. Mian Shahid said that oil price slide will help Pakistan save Rs 600 billion rupees annually which can be used on the social uplift.

Ocean Mall winter carnival

KARACHI (PR): Ocean Mall celebrated the winter season with ‘Ocean Mall Winter Carnival featuring fun activities to engage shoppers and mall goers. Ocean Mall Winter Carnival offered an opportunity to not only have great shopping experience but also chance to win exciting prizes during a week-long series of events

The closing ceremony of Ocean Mall Winter Carnival commenced with kids fashion show featuring the children clothing of brands like baby shop and hang ten. The smartly dressed kids between the ages of 3-6 years walk the ramp confidenlty during the event ,the styling of the kids was done by chukals.

 The fashion show was followed by prize distribution for the royalty cards winners of ocean mall who received exciting gift from Sharmila farooqui, sindh minister for culture and tourism. Sharmila farooqui who was also the chief guest at the occasion appreciated the idea of organizing the kids fashion show at the occasion.

 Ocean mall in their Winter Carnival hosted different games each day where participants played for a chance to win amazing prizes. Those who didn’t get to play the games still won win gifts from the stores through various lucky draws. Whereas, Cinepax Cinema gave two movie tickets for free every day. The top 3 Ocean Mall loyalty cards holders won a 1000 car, a return ticket to London, and a return ticket to Dubai.

Commenting on the ocean mall’s Winter Carnival, Sharmila Farooqui said ‘it’s important to organize fun and interesting events for families specially kids…and I am really happy that ocean mall has taken this initiative