6th consecutive award for Advance Telecom

LAHORE (PR): Advance Telecom, Pakistan’s leading mobile phone distributor and Nokia’s official preferred partner, has won Nokia IMEA Outstanding Performance Award for the 6th consecutive time.  Advance Telecom is the only company which has achieved this milestone 6th consecutive time in Nokia mobile phones business in Pakistan.

The award was presented to Advance Telecom in a recently held Nokia World Conference 2013 in Abu Dhabi. Advance Telecom CEO Rizwan Majid along with Asif Majid (Director) and Hannan Asif (Director Sales) received the prestigious award from Arto Nummela (Senior Vice President) Nokia IMEA & James Rutherford (Vice President) NENA IMEA Region.

Advance Telecom CEO Rizwan Majid thanked all the business partners and valued customers for their trust and support without which this milestone would have not been possible. He also mentioned that the 6th consecutive award is not only a matter of pride for Advance Telecom but also for business partners, valued customers as well as for Pakistan. He further said that the continuous support and encouragement of business partners and valued customers would inspire and motivate the company to achieve greater success in the future.


New UMT students welcomed

LAHORE (PR): Welcoming new students of Fall 2013, Dr Hasan Sohaib Murad, Rector University of Management and Technology (UMT), Lahore,  said that this is a time to welcome a new future, new successes, a new world of leadership and competitiveness, and a lifelong journey of learning. As Muslims, iqra is the key to salvation, faith, respect, knowledge and fulfillment.

He was speaking to hundreds of students and parents who gathered at the University campus to attend the special orientation session. The orientation was attended by senior faculty members, deans, directors and members of the senior management of UMT. The graceful ceremony began with recitation of a few verses from the Holy Quran and the national anthem.

Dr Hasan urged the new students to celebrate their past successes; he said that you have arrived in UMT after successfully completing a series of education. Your presence here today shows your focus on a new future. This future depends on you and how you work it out. You are the question, you are the answer. You are the start, you are the end. You have the ability to unlock your potential. If you look at the picture of your ID card and compare it with the one taken a few years ago, you will notice a difference. Imagine what you would look like a few years from now; your face would show some changes. He said that I come across young people many times and it occurs to me that they are unaware of their own potential. This, he said, is a great loss that must be prevented.


ICI announces after-tax profit of Rs306.7m for Q1

KARACHI (PR): The Board of Directors of ICI Pakistan Limited has announced the financial results for the 1st quarter ended September 30, 2013.The company posted an after tax profit of PKR 306.7 million, which was slightly above the previous period profit of PKR 301.8 million.

The operating results of the Soda Ash, Life Sciences and Chemicals businesses of the company witnessed robust growth of 57%, 77% and 149% respectively.

The Polyester Staple Fibre (“PSF”) business suffered an operating loss of PKR 311.4 million, which negatively impacted the overall operating results of the Company. The loss in the PSF business is mainly attributed to regional and domestic oversupply and dumping by Chinese manufacturers, which was further exacerbated following the National Tariff Commission’s (“NTC’s) final determination that reversed the provisional anti-dumping duty imposed on Chinese manufacturers.

Since the entire PSF industry is suffering due to dumping from China, this issue is being addressed by the PSF Manufacturers Group, through an appeal filed requesting a review of NTC’s final determination.

The Soda Ash Coal Fired Boiler project, which was initiated for enhancing energy efficiency, is expected to be operational within the 2nd quarter of the current financial year.

The Board has also approved a coal/alternate fuel fired power generation project at an estimated cost of Rs.2.5 billion in order to improve the operating efficiencies of the Polyester Fibre business.

The Earning per share for Q1 ended September 30, 2013, was PKR 3.32, whereas it was PKR 3.27 same period last year.


Palmolive sponsors event

KARACHI (PR): For more than 2 decades now, Karachi Women’s Swimming Association (KWSA) has been organizing the “Palmolive Sindh Women’s Swimming Championship” with Palmolive as the chief sponsor of the event. It aims to nurture the female swimmers of Pakistan and lead them to elite international swimming arena and competitions.

The success be gauged by the fact these championships have shaped these very talented sportswomen into excelling even more and has enabled them to haul the maximum number of medals for Pakistan in the South Asian Games, South Asian Swimming Championship & the Islamic Women’s Games.

Palmolive, a socially responsible brand which strongly believes in motivating and elevating the morale of the women of Pakistan to reach new heights, has played an integral role by its continued support and effort in sponsoring these championships for more than 20 years now.

This auspicious 21stPalmolive Sindh Women’s swimming championship is being held at Karachi Gymkhana, on the 2nd and 3rd November, 2013.This competition is open across Sindh to female participants. Age groups being contested this year are:8 and under, 9-10years, 11-12years, 13-14years, 15-16years and ‘open age’.


Habib University Expo

Karachi (PR): The two-day Habib University Expo – Shaping Futures has started at the Expo Center. Along with hundreds of students, school faculty and parents, the Senior Minister and Minister of Education of Sindh, Nisar Khuhro was present and was the chief guest.

The Expo was also attended by Professor Anita Ghulam Ali (Sitara-e-imtiaz recipient), Managing Director Sindh Education Foundation; Dr. Pervez Amirali Hoodbhoy, Professor Department of Physics, Forman Christian College-University; Dr Nauman Naqvi, Acting Dean, School of Arts, Humanities & Social Sciences, Habib University; Dr. Shoaib Zaidi, Dean School of Science and Engineering, Habib University, and Ejaz Ahad, Managing Architect, Ahed Associates.

The dialogue focused on the challenges and hopes associated with higher education in Pakistan.

The Expo provides an opportunity for students, parents, teachers and educationists at large to develop a deeper understanding of what the University will have to offer. The Expo is also the launch of the admissions at Habib University for its first cohort while the university will commence classes from August 2014. It is a historical event in the life of Habib University as it will enroll the pioneering students of this world class institution in the making.

Soneri Bank announces third quarter results

KARACHI (PR): Soneri Bank Limited has posted a pre-tax profit of Rs 923.57 million for the nine months ended 30 September, 2013. The Board in its 132nd meeting held on 25 October 2013, approved the Bank’s third quaterly financial statements. On this occasion, Chairman, Alauddin Feerasta appreciated Bank’s continued positive performance during third quarter and expressed satisfaction on overall scale of growth. 

During the period Bank’s total revenue amounted to Rs 5.37 billion, which is up by 8.87 percent from the last year’s comparative figure of Rs 4.93 billion. The deposit momentum continued, registering growth of 10.11 percent over 2012, to close at Rs.133.04 billion (December 2012: Rs 120.83 billion). Net advances also grew by a remarkable 5.49 percent and stood at Rs 81.04 billion (December 2012: Rs 76.83 billion).

The Board was briefed that going forward the Bank plans to retain its focus on the overall loan book and follow the policy of proactive management of non-performing loans. This is evident from lower provision in third quarter with NPL maintained at same level (as end of half year).

Soneri Bank has a unique market position in trade-finance and transactions banking services and boasts a loyal and satisfied client-base in all its 235 branches in 105 cities spread all over the country. The Bank is committed to meet the increasing expectation of its customers and continue to provide them par-excellence services, for which the bank has been investing responsibly in information technology, human resources, marketing and infrastructure.

Further, the Board in its said meeting has announced the issue of bonus shares @ 10%, which is subject to regulatory approval including waiver from requirement of maintenance of free reserves. Post this issue bank’s share capital will stand at Rs. 10.02 billion (net of discount) as per Minimum Capital Requirement of the State Bank of Pakistan for the year ending 31 December 2013.


Int’l conference at Bahria University

ISLAMABAD (PR): Bahria University Islamabad is going to organize an international conference on `Emerging Challenges for Organizations in Developing Economies (Ecode)`, from 5th to 6th November 2013 at Bahria University Islamabad. The ECODE 2013 will be a two-day program with varied research paths. The conference offers a platform for academicians, researchers, practitioners and students to learn and share knowledge across the globe.


Telenor CEO elected chairman of GSMA

Bangkok (PR): Telenor Group Tuesday announced the GSMA’s election of Telenor President and CEO Jon Fredrik Baksaas to serve as GSMA chairman for the remainder of the current Board term through December 2014. The GSMA represents nearly 800 of the world’s mobile operators. Baksaas replaces Franco Bernabé. As GSMA Chairman Jon Fredrik Baksaas will be overseeing the strategic direction of the organization, which in addition to nearly 800 of the world’s mobile operators also represent 250 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and Internet companies, as well as organisations in industry sectors such as financial services, healthcare, media, transport and utilities.

The GSMA also produces industry-leading events such as Mobile World Congress and Mobile Asia Expo.

“I look forward to working closely with the rest of the Board, the GSMA team and our entire membership to advance important industry issues. It is truly inspiring to work in an industry that has such a profound and increasing impact on the people and societies we serve,” said Baksaas.