Rocket Internet and Ooredoo’s collaboration

KARACHI (PR): Rocket Internet, a German start-up incubator, has partnered with Ooredoo Q.S.C a Qatar-based telecommunications provider to form ‘Asia Internet Holding’ and will jointly build and fund existing e-commerce startups especially those focused on mobile services. This merger will benefit Rocket Internet’s ventures operating in Pakistan.

The collaboration is expected to bring in heavy foreign investment to Pakistan, especially through Rocket Internet’s most successful venture Kaymu (an online market place), which spearheads operations for the entire Asia region out of Pakistan.

Oliver Samwer, Founder Rocket Internet, commented, “We look forward to working with a partner as innovative and customer-centric as Ooredoo in Asia. Our Partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed.


ACCA awards StanChart Bank with global accreditation

 LAHORE (PR): Standard Chartered Bank (Pakistan) Limited joins a distinguished group of organisations that have achieved global accreditation for the support it provides to employees worldwide who choose to train to become ACCA members.

ACCA has confirmed that Standard Chartered Pakistan has met the quality criteria for the award of global Approved Employer (Trainee Development – Gold) status.

This means that all Standard Chartered Pakistan employees who are registered as students with ACCA will receive valuable support to help them successfully complete the ACCA examinations and gain practical experience that enables them to acquire the range of competencies required of finance, accounting and risk professionals in business today.

Commenting on this accreditation, Najam Siddiqi, Chief Financial Officer and Acting Chief Executive Officer commented, “Finance professionals have a critical role to play in protecting and creating value for the Bank, through partnering with the business to provide information and in maintaining a robust controls environment. This ACCA distinction provides our team members with professional learning and development opportunities that support this key objective.”


Mobilink wins 3G licence

LAHORE (PR): Mobilink was announced as one of the winners of the 3G spectrum auction conducted by the Pakistan Telecommunication Authority (“PTA”) at a formal ceremony held on April 23, 2014. Under the terms of the auction, Mobilink won 2x10 MHz spectrum at 2100 MHz band with a total price of USD 300.9 million. High speed internet services on Mobilink’s 3G-ready sites will be rolled out according to the timelines defined in the license agreement by PTA. The license is valid for a period of 15 years.

Rashid Khan, President and CEO Mobilink commenting on the success said, “The acquisition of the license is a testament to the commitment that Mobilink and its parent company VimpelCom has made to Pakistan to bring the best voice and data services and seamless connectivity through cutting edge technology.

As we roll-out NGMS services on our network, we will ensure that our customers continue to enjoy the best EDGE services on more than 9000 cell sites across Pakistan.”


Conference on governance and society at UMT

LAHORE (PR): Inaugurating the first annual conference on governance and society organized by the School of Governance and Society at the University of Management and Technology (UMT), Lahore, Dr Hasan Sohaib Murad, Rector UMT, explained the significance of the subject from learning and empirical perspectives, besides emphasizing importance of right to life for all, right to property, and right to speech.

The conference with the sub-theme ‘Human Rights in Pakistan’ was attended by a diverse audience from university students, academics, media persons, rights activists and some government officials.

The keynote speaker I A Rehman said that at the time of partition, the Pakistani legal system entailed only two crimes warranting capital punishment and now there are 28, without a legible explanation for this exponential increment.


Soneri announces results

KARACHI (PR): Soneri Bank Limited posted a profit before tax of Rs.459.16 million and profit after tax of Rs.301.25 million for the first quarter, ended 31March 2014.  The Board in its 136thmeeting held on 23April 2014, approved the Bank’s first quaterlyun-audited financial statements. On this occasion, the Chairman, Mr. Alauddin Feerasta appreciated the Bank’s continued positive performance during the quarter and expressed satisfaction on the overall scale of growth.

During the period, the Bank’s net revenue grew by 19 percentto Rs.2.03billion, from last year’s figure of Rs.1.70billion.The deposits momentum continued, registering growth of 4.83 percent over 2013, to close at Rs.147.37 billion (December 2013: Rs.140.58 billion), whileadvances (net)were down due to the seasonal factor.


Ufone wins 3G auction spectrum

LAHORE (PR): Ufone has emerged as successful in winning the auction for the 3G license in Pakistan.

Speaking at the occasion Ufone’s CEO, Abdul Aziz expressed his delight saying, “This is a major milestone not just for Ufone but also the telecommunication industry of Pakistan in general. We have been working to get 3G technology in Pakistan for a while and it fills me with immense pride and delight that our efforts have finally bore fruit.

 He also congratulated PTA, relevant ministries and Government of Pakistan on the successful conclusion of the bidding process.”

“Ufone will strive to provide excellent coverage to meet customer expectation and in compliance with the Information Memorandum. We will make sure that our customers enjoy the benefits of 3G technology and will provide them with our best technological support”, Mr Aziz further added