Samsung launches a project
to donate houses for flood victims
Lahore: Samsung Electronics, a market leader and award-winning innovator in consumer electronics, home appliances, semiconductors and telecommunications, has recently launched a new humanitarian initiative in Pakistan to provide houses and electronic appliances for the flood victims across the nation. In a ceremony held in the Rangpur city near southern Multan region, Samsung presented the funding to IDF – An international NGO, which is building houses for the homeless flood victims, with the support of the United Nations Organisation. A special ceremony and press conference was organized by IDF on September 10, 2011 in Rangpur, where Samsung announced its support for IDF to build new eco-friendly houses (2 houses for flood affected families). In this initial phase of the project, Samsung has donated the amount for construction of 1 house and appliances for 2 houses. press release
Rado becomes official timekeeper of Sportaccord World Mind Games
Lengnau: Rado, the famous watch brand and member of the Swatch Group, is harnessing its pioneering energy in the service of the human mind and its extraordinary capabilities, by becoming the official timekeeper of the SportAccord World Mind Games. Taking place in Beijing from 8 to 16 December 2011, under the auspices of SportAccord, an organisation made up of international sports federations, the first SportAccord World Mind Games will see the world’s elite competing in five disciplines of the mind: chess, bridge, draughts, go and xiangqi, the game also known as Chinese chess. Around 150 people will be taking part in these competitions, which require strategic awareness, intelligence and mental agility. Representing all the strength of the human brain, participants are genuine athletes, given the competitiveness, speed of reaction, physical fitness and self-discipline that practicing their art requires. press release
Shura Hamdard spread
message of love and peace
Karachi: Speakers at the meeting of Shura Hamdard Karachi chapter in their unanimous resolution have urged the political parties, media, ulema, poets, writers, teachers and students to spread message of love and peace among the citizens of Karachi. They also urged the people of Pakistan in general and Karachi in particular to keep themselves away from those people who are responsible for spreading hatred in Karachi and Pakistan on the basis of language, race and region.
The meeting was held on Thursday September 8, 2011, presided over by the former Chief Justice of Federal Shariat Court, Haziqul Khairi at a local hotel. press release
PTCL announces
financial year 2011 results
Karachi: Pakistan Telecom Company Limited (PTCL) announced its Financial Year 2011 results, registering unconsolidated earnings of Rs7.43 biilion (with earning per share of Rs1.46), which is 20 per cent lower from last year by dint of higher operating income of the company. In 4th Quarter alone, the company registered a Profit After Tax of Rs2.46 billion (EPS Rs0.48), up 71 per cent Year on Year. The result came in higher than consensus estimates on account of higher other operating income. However, as expected, no dividend was announced as the company had already paid Rs1.75 per share in 3QFY11. In FY11, revenues declined by 3 per cent YoY to Rs55.25 billion, as declining fixed line subscription continued to restrict growth in topline. press release
PS receive insured
amount of iron ore sunk in sea
Karachi: Pakistan Steel has received about Rs32 million against the insurance claim of about 25000 metric tonnes of Iron ore sank in Indian Ocean. A cargo ship named MV MIrach carrying about 25000 Tons of ironore from Indian loading port Haldia and Vizag, during its journey towards Port Qasim, Pakistan, met an accident after hitting a rock and sank in the Indian Ocean, in March 2011. As per SOP, Pakistan Steel completely insures all its imported material and the said 25000 MT iron ore amounting to Rs31 crore, 29 lac, 51 thousand and 403 rupees was also claimed by PS to NICL after the incident. press release
Ladies Fund Entrepreneurship
Conference to be held on 16th
KARACHI: The Ladies Fund, an initiative taken by the Dawood Capital Management Limited (DCML) for the betterment of women community in the society, has officially announced the 2nd Ladies Fund Entrepreneurship Conference (LFEC) 2011 on Sept 16 at a local hotel. DCML Chief Executive Tara Uzra Dawood announced this on Thursday at a press conference at a local hotel. She said that the 2nd LEC was aimed at bringing a revolution in the society by enhancing skills of entrepreneurship among women. press release
UBL Funds announces
phone banking facility
Karachi: UBL Fund Managers in collaboration with its parent company, United Bank Limited has introduced the facility of investing in their schemes through UBL’s Phone Banking service. A common feature offered to investors around the world, UBL Fund Managers is the first Asset Management Company to launch such a facility in Pakistan. Chief Executive Officer, Mir Muhammad Ali, CFA shared that the “The launch of this facility is aimed at making the process of investing fast, easy and hassle-free for clients. Clients no longer need to fill out forms and get into the hassle of submitting them. press release
NBP continues flood relief operations
Karachi: National Bank of Pakistan in collaboration with People’s Doctor’s Forum has organized flood relief and medical camp in DC School, Nawabshah. Last week NBP distributed flour bags and other food essentials among the flood affectees of this area. However due to nonstop devastation caused by the current calamity, another consignment of 500 food packets have been handed over to local administration for onward distribution among flood affectees. The food packet contains following ten essential items: Flour – 10 Kg, Rice – 5Kg, Pulses- 5Kg, Sugar – 1Kg, Milk Powder – 1Kg, Cooking Oil – 1Kg, Tea – ¼ Kg, Water Purification Tablets – 10 Qty, Soap – 3Qty, Short cakes – 2KG. Another consignment of 1500 food packet will arrive shortly and will be handed over to local administration for onward distribution among flood affectees. press release