Category: Business

KARACHI – Wajahat Husain, President & CEO UBL has said that the era of disruption and re-invention of the organization is already upon us. He cited examples of businesses which had embraced technology and disrupted their existing business models to keep up with the exponential pace of change within their industries.
He also added, “To thrive in this disruptive environment, the modern organization needs to exhibit a strong business foundation, disciplined risk-taking, awareness of the environment and identify the change agents who nimbly lead the disruption in the organization.”
The talk was themed around ‘Embracing Disruption’, the session encouraged contemporary management practitioners to re-think and embrace the idea of a disruptive economy and to not only adapt to, but lead the resulting changes in their respective organizations.
UBL President was recently invited to deliver the keynote address at the Pakistan Professionals Wing (PPW) Forum in Dubai. Established in 1987 by a group of Dubai and Sharjah based Pakistani professionals, PPW aims to contribute to the social and economic uplift of the Pakistani community in the UAE.

Web Desk – Elon Musk, the chairman and chief executive of SpaceX and Tesla as well as Uber Technologies CEO and co-founder Travis Kalanick and PepsiCo Chairman and CEO Indra Nooyi have joined US President-elect Donald Trump’s advisory council, Trump’s transition team said on Wednesday.

The group, which includes numerous other top business leaders, aims to give industry input on the private sector to Trump, who takes office on Jan 20.

LAHORE – Zameen.com concluded its two-day realty affair, Zameen.com Property Expo 2016 in Lahore on a positive note with participation of real-estate developers, agents, investors, buyers and sellers.
Federation of Pakistan Chambers of Commerce & Industry Regional Chairman and Vice President Mian Rehman Aziz cut the ribbon on the first day to inaugurate the event, while on the second day Member of Provincial Assembly Malik Saif ul Muluk Khokhar was the chief guest.
Real estate developers from across the country showcased their projects at the event, while property agents interacted with potential investors and genuine buyers. Zaitoon Group, Fast Marketing Consultants Pvt Ltd, Indigo Developers, Vertex Marketing, Athar’s Marketing Network, The Springs Apartment Homes, Square One, Sheranwala Heights, Icon Valley, DHA Bahawalpur and DHA Multan were among the prominent exhibitors of the event.
The footfall remained high on the first day of the event, while response on the second day was even more overwhelming. People from all walks of life converged at the Expo Centre to revel in the real estate goodness Zameen.com had planned for them.
Towards the end of the event, Zameen.com presented commemorative shields to exhibitors and also gave away exciting prizes including smartphones, televisions, microwave ovens, power banks, and much more to the lucky draw winners.

LAHORE – As many as 37 Italian businessmen had B2B meetings with their Pakistani counterparts and agreed to put joint ventures in place to boost mutual trade and economic ties.

Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit, Italian Deputy Minister Ivan Scalfarotto, Minister for Industries Sheikh Allauddin and Provincial Finance Minister Dr Ayesha Ghaus Pasha spoke on the occasion and hoped that strong relations between the businessmen of both countries would help increase mutual trade volume.

The LCCI president said that Italy is an important trading partner of Pakistan in Europe which comes at 5th and 3rd places respectively among the top exporting and importing destinations for Pakistan in European Union. He said that the balance of trade favours Pakistan and it is encouraging to see that volume of bilateral trade is being maintained over $1 billion. Pakistani businessmen wish to maintain this favourable trend and also enhance the volume of two way trade with the help and cooperation of individuals.

“The worth of bilateral trade was $1.2 billion in 2014 which slightly decreased to $1.1 billion in 2015. The said fall in trade volume was due to slight dip in imports and exports during that period. The country’s exports decreased from $767 million to $618 million and imports contracted from $470 million to $444 million”, he said, adding that these figures do not reflect the actual potential of trade between Pakistan and Italy.

He said, “Both the countries have big market size, so we will suggest that market surveys should be conducted to explore the potential areas of trade.” He said that it is really good to see that Italian investors and businessmen are taking interest in fashion and marble sectors of Pakistan in particular. “If Italy could help Pakistan get the latest technology required in these sectors then we can create win-win situation for both the countries,” he added.

He said that China Pakistan Economic Corridor (CPEC) has caught the attention of the entire world and many countries are expressing the desire to be the part of this mega project. He said that joint ventures would also provide an opportunity to the Italian entrepreneurs to reap the benefits of CPEC.

He said that the LCCI like to develop a close liaison with the Italian Trade Commission office in Pakistan in order to exchange important information related to trade queries. He hoped that Italian Embassy would play active role in projecting Pakistan as a safe place to invest and trade.

LAHORE – The Lahore Chamber of Commerce and Industry Friday launched its own android mobile application (APP) and became first chamber of the country which has introduced such a modern service for its members.

The LCCI APP, easily accessible from any smart phone, will strengthen business connections of the LCCI members and they would also get easy access to the concerned information.

LCCI President Abdul Basit inaugurated the APP at a prestigious ceremony here at the Lahore Chamber of Commerce & Industry while LCCI Standing Committee on Information Technology convener Amir Saeed also spoke on the occasion. The LCCI APP is jointly developed by LCCI computer department and M/S TAPINSTA team including Saad Sohaib, Khalid Manzoor, Muhammad Anis and Asif Khalil.

At the first stage, the facility is available on android phones only while in next three months, it would be available on other systems as well.

This mobile application will provide information to the business community regarding events, recent updates, registration process of membership and member’s details.

Abdul Basit said that this initiative has been taken to bring the Lahore Chamber of Commerce and Industry at par with the chambers of commerce of the developed world. To expedite the processes, an upgraded system has been put in place. He said that the Lahore Chamber of Commerce & Industry would continue to facilitate its members in the larger interest of the trade, industry and economy.

The LCCI president urged the LCCI members to get full advantage of the APP. He said that in today’s world, IT knowledge was of prime importance as not only it unlocked the doors of progress and prosperity but also provided a chance to get access to global opportunities.

He said in the knowledge race in the 21st century and rapid globalization, the quality of information technology-based education has to be enhanced to bring it at par with international standards for bringing the country out of economic mire.

The government would have to spend more on education to achieve the goal as the existing budget is too meager to produce desired and required results”, Abdul Basit added

LAHORE : The two-day Property Expo 2016, organised by Zameen.com, is all set to be started from today (Saturday) at the Expo Centre Johar Town. More than 100 real estate developers, agents and home management companies have signed up to exhibit their projects and services at the event. The event will not only feature real estate projects for property enthusiasts, but will also provide an opportunity for families to have a weekend full of fun. Wheel of Fortune, food stalls of famous food brands at the event will offer scrumptious meals to the visitors

GE, Trade Bank of Iraq and Standard Chartered Bank sign

financing MoU to accelerate power and infrastructure

projects in Iraq

 

Karachi – GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have signed a financing MoU to accelerate the development of power and infrastructure projects in the country that will help meet the growing demand for power in Iraq.

The MoU also underlines the financial partnerships formed by GE with global and local financial institutions to speed up power and infrastructure projects in the country. Earlier this year, a similar financing agreement with the three entities had facilitated the completion of the first phase of the ‘Power Up Plan’ signed by GE with the Ministry of Electricity to deliver and secure more than 700 MW of power to the country’s grid. This highlights GE’s strong commitment to work with the government in building innovative solutions on technology and financing.The accomplishment of such financing schemes has supported more than US$500 million offacilities to the Iraqi government.

GE has the unique ability to structure financing solutions through its global network of banking partners and multiple international export credit agencies. Over the past year, by working with different Ministries in Iraq, GE has attracted more than nine major global export credit agencies to Iraq resulting in significant project investment commitment.

Aziz Koleilat, President & CEO Iraq & amp; Levant of GE, said: “The financing MoU marks our long- term commitment to Iraq to support the government in driving power and infrastructure enhancements and in undertaking new projects that contribute to sustained economic growth.

The new MoU follows the successful completion of the first phase of our Power Up Plan, which we had similarly supported with TBI and SCB, and now helps in meeting the critical power needs of Iraqi people. By bringing international and local banks to drive financing in the country,

we will work to implement the key developmental priorities of the government.”

Faisal Al Haimus, Chairman of the Board & acting CEO of TBI, said: “The MoU is a strong example of our commitment to support our nation’s progress. Assuring a reliable infrastructure is central to boosting growth and adding to the welfare of our people. We will work with our partners in ensuring the financing support outlined in the MoU will contribute to the nation’s infrastructure development, especially in the power sector. Ahli United Banking Group- Kingdom of Bahrain will take a risk participation of the club deal as a secondary financier along with the primary financiers being Trade Bank of Iraq and Standard Chartered Bank making it the first club deal in Iraq’s Banking history.”

Ahmad Abu Eideh, CEO, Middle East Jordan, Egypt Iraq and Lebanon of Standard Chartered Bank, added: “For Standard Chartered, the Middle East has been part of our strategic footprint for over 90years. This MoU is a testament to our commitment to Iraq, an increasingly important economy in the region. Standard Chartered had launched its operations in Iraq in November 2013 by opening its Iraq head office and first branch in Baghdad – to be the only international bank to have full-fledged on-the- ground wholesale banking operations in Iraq.”

He added: “The Iraqi government has demonstrated strong resolve in boosting the infrastructure of the country. The support extended by GE, TBI and the Bank in this new project financing MoU will help the nation in implementing strategic infrastructure projects. With the support of the government, our partners and clients, we will continue to play a key role in bringing best international practice financial solutions to our clients operating in Iraq. Our main aim is to meet the increasing banking needs of our clients who are progressively more active in Iraq, notably in the power, oil, telecoms, infrastructure sectors and large government projects. Thus, participating in Iraq’s growth.”

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About GE:GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

Karachi –  BASF will showcase its comprehensive product portfolio of Master Builders Solutions® for the construction industry at Build Asia 2016 from December 6-8 in Karachi, Pakistan. At the show, BASF will display the following:

•    MasterSeal® high performance waterproofing membrane solutions, recently introduced in Pakistan, provide exceptional durability, design flexibility, and make an aesthetically pleasing environment for roofs, parking decks and basements.
•    Admixture solutions for concrete speed up construction progress and enhance quality of workmanship by improving concrete strength, pumpability and overall appearance. They also ensure long-term safety, durability and help reduce CO2 emissions and water consumption.
•    Ucrete industrial flooring system, a unique polyurethane resin technology, gives floors exceptional resistance to aggressive chemicals, and extreme mechanical and thermal shock, thus providing a long-term, durable flooring solution.

“With the recent boom in the construction industry and increase in foreign investment in infrastructural development in Pakistan, the demand for economical and sustainable solutions, to improve overall quality and efficiency of construction has increased.  BASF supports architects, consultants, contractors and users to achieve these goals with high performance construction solutions that also help reduce environmental impact,” said Faisal Akhtar, Managing Director, BASF Pakistan (Private) Limited.

For further information on BASF’s innovative products for the construction industry, please visit www.master-builders-solutions.basf.pk

About Construction Chemicals Division
BASF Construction Chemicals division offers advanced chemicals solutions for new construction, maintenance, repair and renovation of structures. Our comprehensive portfolio encompasses concrete admixtures, cement additives, chemical solutions for underground construction, waterproofing systems, sealants, concrete repair & protection systems, performance grouts, performance floorings systems, tile fixing systems, expansion control systems and wood protection solutions.

The Construction Chemicals division’s about 5,500 employees form a global community of construction experts. To solve our customers’ specific construction challenges from conception through to completion of a project, we combine our know-how across areas of expertise and regions and draw on the experience gained in countless projects worldwide. We leverage global BASF technologies, as well as our in-depth knowledge of local building needs, to develop innovations that help make our customers more successful and drive sustainable construction.
The division operates production sites and sales centers in more than 50 countries and achieved sales of about €2.3 billion in 2015.

About BASF Pakistan
BASF has been present in Pakistan for more than four decades. With production in Karachi, BASF offers innovative solutions for key local business sectors. BASF maintains offices in Karachi, Lahore, Kasur, Sialkot, and Islamabad. BASF also supports education and community development projects in Pakistan. In 2015, BASF posted sales of approximately €110 million to customers in Pakistan. Further information on BASF in Pakistan is available on the Internet at  www.basf.com/pk.

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.

Islamabad—Mobilink is targeting the agriculture sector of Pakistan with the launch of its service ‘Ba KhabarKissan’. The App based service utilizing interactive voice response technology will provide farmers information and services related to agriculture such as optimized cultivation methods, modern farming techniques, health education for farmers, health precautions for plants, 24/7 helpline with training, weather information, crop insurance, market-related information and a platform for sales.
To get more farmers acquainted with the service, a promotional event was held in Haripur, Khyber Pakhtunkhwa, where around 1300 local farmers were present to witness Minister of Agriculture of Khyber Pukhtunkhwa, Mr. IkramUllah Khan Gandapur, and Syed Babar Ahmad, Head of Products– Mobilink provide a breakdown of the service’s benefits to the farming community.
With the launch of this service, Mobilink is looking to harness the strength of its extensive telecommunications network to connect farmers, agribusinesses, and rural communities, in a bid to drive productivity, profitability, and innovation.
“With the launch of our ‘Ba KhabarKisaan’ service, Mobilink is showcasing that mobile operators can offer much more than just basic communication facilities,” said Syed Babar.
“This service is in line with the direction we took by re-introducing Jazz, as we now want to offer our subscribers freedom of choice, digital empowerment and the power to do more with less; ultimately becoming the first Telco to reach out and reshape all echelons of society.”