Firms can secure online data thru ISO 27001 certification

Lahore (Staff Reporter): As the online banking, credit cards and online shopping are making inroads in common Pakistani lifestyle, experts have stressed the need for creating awareness about the security of online data of the companies and institutions. To counter the fraudulent activity in software world, ISO 27001 certification is the best solution which is a dynamic process, requiring annual audits and periodic renewal of the certification at TUV Austria Bic, certifying recently the Digital Processing Systems Inc (Kuwait based company) which is delivering tech solutions to many companies throughout the globe. This system of management process has been designed specifically to safeguard Information Security and Databanks at the organizations.

This is most suitable for Software Houses and IT Companies along with the banking and telecom sector.

As the governments are making legislations more strict regarding cybercrime all over the world including Pakistan, the financial sector also needs to get certified of ISO 27001 for the full protection of their all stakeholders.

Prime Minister relief package to revive industry

LAHORE (APP): Director Kohinoor Textile Mills Limited Waleed Saigol, while talking to the newsmen here Monday, hoped that the approval of a timely relief package by the PM would lead to resurgence of the presently impaired textile industry. “A billion dollar investment for structural balancing, earning precious foreign exchange to get rid of the lending agencies, employment creation and consequent revenue generation would be the immediate socio-economic benefits of a textile industry on strong footing” he stressed. He said all rating industries and donor agencies have lauded the policies of the present government that has increased the foreign exchange reserves to a comfortable level of around $19 billion.

He said the interest rates are at a decade low and Karachi Stock Exchange Index is at historic high . He said after a long time a government in Pakistan has created an investment friendly environment for the businessmen.

He said there has been a positive change in law and order situation in Karachi as extortion mafia is almost eliminated and target killers have been apprehended. He said this has sent a positive signal to foreign investors that are now sending signals for joint ventures.

He said although cement exports have declined in recent years due to non tariff barriers by India and suspension of construction activities in Afghanistan still the prospects to other countries are increasing particularly to African countries

Abid lays foundation stone of Rs1.5b 220kV grid station

MANSEHRA (Staff Reporter): Minister of State for Water and Power Abid Sher Ali on Monday laid the foundation stone of 220 kV grid station. National Transmission and Dispatch Company Limited (NTDCL) has started the construction of the Rs 1500 million project, which would be completed in December 2016. According to a handout addressing the ground breaking ceremony, Abid Sher Ali congratulated the people of Mansehra and said that the govt is committed to resolve the issue of energy crisis and poverty in the country and assured that similar projects will also be started in other parts of the KP to fulfill the electricity needs. The project is being constructed with the financial help of ADB and will be completed in Dec 2016.

Resultantly, the areas of Abbottabad, Nathia Gali, Muzaffarabad, Havelian, Nosehri Neelum Valley, Haripur, Hattar Industrial Estate, Nishat Tarbela, Mahsehra, Ougi, Balakot and Battal will feel sigh of relief from forced load shedding and low voltage problems.

Federal Minister for Religious Affairs and Inter-faith Harmony Sardar Muhammad Yousaf, Deputy Speaker National Assembly Murtza Javed Abbasi and Managing Director NTDCL Engineer Muhammad Arshad Chaudhry also attended the ceremony.

Managing Director NTDCL Engineer Muhammad Arshad Chaudhry while addressing the gathering said that the people of KP and Hazara would be benefited and it will help in reduction in load shedding along with improvement in voltage profile.

FBR office Karachi refurbished to facilitate taxpayers

ISLAMABAD (APP): The FBR to facilitate taxpayers of income/sales tax at their doorsteps, has refurbished its existing office buildings situated at Gulshan-e- Iqbal, and Gulistan-e-Johar, Karachi. A statement of the FBR issued here Monday said that to relocate Regional Tax Office-III Karachi and its allied Commissionerates, refurbishment was started on 01-01-2015 and completed on 02.09.2015. Ahmed Saeed, Chief Commissioner Inland Revenue, Karachi accomplished refurbishment and shifting of RTO-III offices successfully. The Chairman FBR has also accorded approval for opening NBP branch at Gulistan-e-Johar, Karachi which will facilitate the taxpayers in deposit of taxes through one-window operation at the request of Chief Commissioner, Ahmed Saeed.

Tariq Bajwa, Chairman FBR has appreciated the efforts of officers and staff, specially Shahid Hussain Jatoi, Member FBR and Ahmed Saeed, Chief Commissioner (IR) Karachi in taking keen interest and speedily completing refurbishment and shifting of all offices in time to receive the annual income tax returns for tax year 2015 whose last date is 30th September, 2015.

World oil prices mixed in

Asian trade

SINGAPORE (AFP): Oil prices were mixed in Asia Monday ahead of a US interest rate decision, with weak demand in an oversupplied market keeping a lid on any gains. US benchmark West Texas Intermediate for October delivery was up five cents at $44.68 and Brent crude for October fell 16 cents to $47.98 in late-morning trade. The cost of the black gold tumbled last week after Goldman Sachs slashed its price forecasts for next year in the face of a larger-than-expected glut. Sanjeev Gupta, head of the Asia Pacific oil and gas practice at professional services firm EY said prices will remain volatile on concerns “over demand growth not being sufficient to absorb excess supply”.

Weak demand from China, the world’s top energy consumer, is also weighing on the market, he said, following another round of weak data on the world’s number two economy at the weekend.

Gupta said dealers are focusing on the Federal Reserve’s rate meeting that ends Thursday.

While expectations are for a rise by the end of the year, the bank’s decision has been made complicated by the recent turmoil across the globe caused by the Chinese economic crisis.

Higher US interest rates will boost the US currency, making dollar-priced oil more expensive for holders of other units, hurting demand and prices.

“For now, the market appears willing to give in to the Fed’s well telegraphed intention to hike in 2015 but remains doubtful of more hikes thereafter,” DBS Bank said in a market commentary.

“The (dollar) could reassert itself if Fed Chair Janet Yellen turns out to be more optimistic than expected and reinforces her colleagues’ recent message that the Fed will be gradual and cautious in normalising monetary policy.” Oil prices have plunged from from peaks of more than $100 a barrel in June 2014 as global supply outpaced demand.