Category Archives: General Business News

Nestle Pakistan records 4.24% revenue growth in H1 2018

Lahore, August 16, 2018 (PPI-OT): Nestle Pakistan recorded a revenue growth of 4.2% for the six months ended on June 30, 2018 with an overall increase in its revenue by PKR 2.6 billion. The total revenue for the company stood at PKR 64.6 billion. The results were announced upon the conclusion of the meeting of Nestle Pakistan’s Board of Directors on 16th August 2018.

The company reported profit after taxation of PKR 6.3 billion for the six months ended on June 30, 2018 as compared to PKR 7.9 billion in the corresponding period last year. The company faced pressures on its earnings owing to challenging economic conditions with depreciation of PKR, rising fuel prices and input costs. Resultantly its earnings per share declined to PKR 138.03 vs 174.95 in the corresponding period last year. The company remains optimistic about growth and profit development despite ongoing macroeconomic challenges.

For more information, contact:
Corporate Media Relations Manager
Nestle Pakistan
308 Upper Mall,P. O. Box 874,Lahore, Pakistan
Tel: +92-42-35988119, +92-42-111-Nestle (637853)
Cell: +92-342-6662999

Faysal Bank celebrates Independence Day with Child Aid Association at National Institute of Child Health

Islamabad, August 16, 2018 (PPI-OT): Faysal Bank Limited, one of the leading banks of the country, celebrated Independence Day with great enthusiasm and fervour with the underprivileged children undergoing treatment at the Child Aid Association (CAA) cancer centre, National Institute of Child Health (NICH), Karachi.

Faysal Bank’s management met the patients and their families and participated in the cake-cutting ceremony with the national anthem. Professor Nizam Ul Hasan, Former President of Child Aid Association along with Mr. Tariq Shafi, current President of Child Aid Association, also received a cheque of donation from Mr. Yousaf Hussain, President and CEO of Faysal Bank at the ceremony.

Moreover, giveaways were also distributed amongst the children. Commenting on this initiative, Mr. Yousaf Hussain stated, “Faysal Bank is committed to fulfilling its corporate social responsibility through its support to charitable causes including health, education and community welfare.”

Professor Nizam Ul Hasan acknowledged with gratitude the financial support provided by Faysal Bank and stated, “Providing free facilities of diagnosis and treatment to cancer affected children is an uphill task involving extremely expensive medical care. I am thankful for organizations like Faysal Bank that support our cause and make our work possible.” Through sponsorships, donations and volunteer initiatives, Faysal Bank endeavours to play its role as an active and responsible corporate citizen.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234

First-ever Defence Expo kicks off at Lahore

Lahore, August 16, 2018 (PPI-OT): First-ever three-day “Suppliers and Vendors Defence Exhibition” (SAVDEX 2018). Gen. Zubair Mahmood Hayat NI (M), Chairman Joint Chiefs of Staff Committee inaugurated the exhibition in the presence of Maj Gen Ahmad Mahmood Hayat, HI (M), DG DEPO, LCCI President Malik Tahir Javaid, Brig. Waheed Imtiaz, LCCI Senior Vice President LCCI Khawaja Khawar Rashid, Vice President Zeeshan Khalil, Commodore Tariq Mahmood, Commodore Tahir, former presidents, Executive Committee Members and people from different parts of the world.

SAVDEX-2018 has brought together international and domestic manufacturers and suppliers of products and services to explore the opportunities for cooperation in the field of defence production. SAVDEX-2018 has also brainstorming session on “Pakistan Defence Industry, Export potential, Challenges and Prospects” in its fold.

During his inaugural address, the Chairman Joint Chiefs of Staff Committee said private sector can play an increasingly more significant role in pursuit of promotion of defence exports. The Armed Forces will encourage and support the private sector to come forwards; and together with the public sector defence industries enhance production and exports.

While addressing the seminar the Chairman Joint Chiefs of Staff Committees emphasized that by optimizing our defence production and export, Pakistan can capture a large share of the international defense market. In order to achieve this objective, it is vital to integrate public-private defence industry to achieve optimal results. New ideas, entrepreneurship, and management skills mastered by private sector need to be coped with the existing public sector defence industry for adding more efficiency as well as volume to our defence production and exports; significantly contributing towards our economy.

Earlier Maj Gen Ahmad Mahmood Hayat, HI (M), DG DEPO during his welcome address thanked Ministry of Defence production, Joint Staff Headquarters, Armed Forces of Pakistan, Public-private suppliers and vendors, LCC and I and SPDI for their vivid support in successful conduct of SAVDEX and Defence Industry Seminar.

President Lahore Chamber of Commerce and Industry Malik Tahir Javed said that today is another memorable day in the history of Lahore Chamber. He said that we are grateful to the management of Defence Export Promotion Organization for collaborating with us for holding SAVDEX 2018 in Expo Center, Lahore. It validates the exclusive class and value of Lahore Chamber and at the same time, it has given a new challenge to stretch our limits to achieve even greater goals for our country.

He said that LCCI is fully determined to play its due role by way of making SAVDEX a milestone in the pursuit of mutually increasing the defence production of Pakistan. He further said that it is a matter of great encouragement for us that private sector has been trusted to get engaged with certain public sector organizations which are related to defence sector. It is an urgent need of the hour that Pakistan must increase the share of defence exports in order to fill the gap created by unfavourable balance of trade.

President LCCI said that we attach a lot of hopes with SAVDEX and expect that this event will begin a new of era of public private partnership in Pakistan. The members of business community are really eager to join hands with public sector organization. He said that it is the right time to emphasize on exploiting the actual potential of local resources and achieving unprecedented results through indigenization. LCCI President assured that Lahore Chamber will continue to extend its full cooperation in this regard in future as well.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854

Huawei to launch Nova Series in Pakistan

Islamabad, August 16, 2018 (PPI-OT): There’s much to see on a product spec sheet – for instance, how much the company cares about its brand. From the hardware we can extrapolate the types of apps a device can run, as well as its target audience. Each brand serves its own group of consumers – like Huawei, most people associate the brand with business-centric devices.

A straight-forward design, large battery, bank-level security features are all part of Huawei’s offerings, so it’s no wonder that consumers label the devices like the way they do. However, with the launch of Nova series in Pakistan for the first time, Huawei gets to display another sticker: the maker of devices for fashionistas.

With their fashionable appearances, Nova series devices have won the hearts of many young users since their debut. Young users pursue individuality, enjoy entertainment and place a great emphasis on looks, and Huawei Nova series ticks all the boxes. Made for today’s youth, the Huawei Nova series has grown from strength to strength since its launch. Recently, it’s gotten two new members: the Huawei Nova 3 and Huawei Nova 3i.

The Nova series has always had a focus on appearance and selfie features – that did not change with the Huawei Nova 3 series. Featuring improvements upon its predecessor, Huawei Nova 3 series comes with a trendy minimal bezel display, numerous colour options, AI features hardware HDR effects, 3D Qmojis, and more.

With all these features, Huawei is confident that the Huawei Nova 3 series will help it break into new markets. As a series specifically for the young generation, the Nova series has its own understanding of the trend, which is illustrated to its target audience via design. The Huawei Nova 3 series is equipped with a 6.3-inch FullView display with a wide aspect ratio, minimized bezels, and optimized body for improved grip. All these reflect the Huawei Nova 3 series’ commitment to providing youth with fashionable and fantastic visual experience.

On the back panel, the device sports a metal chassis with a clear glass cover, underneath which trendy colours – including the gradient colour – shine through with incredible vibrancy. All these prove the Huawei Nova stands at the forefront of popular culture. Stunning appearance is indeed a product advantage of Nova series, but the capability to take beautiful selfies is also key in this market segment. The Huawei Nova 3 series enhances the selfie experience with its quad camera. On the front, the 24MP plus 2MP dual camera setup push the selfie capability to new heights.

The f/2.0 wide aperture high-resolution lens is joined by a professional depth sensing lens to bring young users more natural and beautiful selfies. Besides providing DSLR-level image quality, Huawei Nova 3 series produces photos with bokeh effects that look natural and realistic. That’s not all, Huawei Nova 3 series has a trump card: smart selfies and AI beautification. After Huawei established its selfie laboratory, the company has made a great effort in researching its global user base.

Analyzing the big data on user sentiments on selfie beautification, Huawei was able to quantify beauty and use its understanding to tweak its beautifying products so that they better fit their users’ preferences. This commitment to research enabled Huawei to offer devices that empower users to take beautiful photos with minimal effort.

With scientific and quantitative techniques to serve young users, taking graceful, gorgeous and beautified selfies is no longer a challenge. It is an exclusive application of Nova series, and a new label to separate from Huawei’s business phones.

The Huawei Nova series is the best looking and most ideal selfie-taking device at its price point. If Huawei continues its streak of excellence serving this target audience, we believe that this new “made for youth” identity will eventually rise to prominence and stand proudly alongside its reputation as the go-to manufacturer of business devices.

For more information, contact:
ME Brand Manager
8th Floor, Saudi-Pak Tower, Blue Area,
Islamabad, Pakistan
Tel: +92-51-2800000-20
Fax: +92-51-2800008
Mobile: +92-333-5240632

All parties should work for economic development: PIAF

Lahore, August 14, 2018 (PPI-OT):The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has greeted the new parliamentarians who have now taken oath in the National Assembly on 13th of August, asking them to work united for the economic development and prosperity of the country. He said that seventy years have passed since independence but our country still remains without direction, which is a bigger problem than the energy crisis, law and order situation and current dollar crisis.

He said that many policies are incoherent, there is a lack of coordination among different ministries and a lack of trust can be observed among business community and important departments. He said that the business community welcomes the victory of PTI and hopes that now uncertainty is ending and stability will come which is vital for economic growth.

He said that developed nations plan for decades and centuries while we are busy in day-to-day affairs, which has deprived the country of an opportunity to face challenges in the fast changing world. While issuing a press statement chairman PIAF Irfan Iqbal Sheikh alongwith senior vice chairman Tanvir Ahmed and vice chairman Kh Shahzeb Akram said that PIAF is hopeful that the new government, as per its manifesto, will ensure the supremacy of merit, transparency and across the board accountability, leading to progress and prosperity in the country, he stated. He said that after the successful elections now serious economic and security challenges await the new government.

On the occasion of 71st Independence Day chairman PIAF Irfan Iqbal Sheikh also congratulated the nation and asked them to work more commitment and motivation for the betterment of economic development. It is the need of the hour that we all should work with more commitment and dedication, he added.

Chairman PIAF stressed upon all the political parties to show unity on national issues, as Pakistan is currently facing many economic challenges, which can only be addressed through taking all necessary measures unanimously. He said that macro-economic reforms and necessary policy changes can turn Pakistan into an economic power, which is a must to tackle the challenges posed by the changing global scenario.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522

Muslim Council of Britain urge PM to launch an inquiry into Tory Party Islamophobia

The Muslim Council of Britain (MCB), has urged British Prime Minister Theresa May to launch an independent inquiry into Islamophobia in the Conservative Party after several MPs supported dehumanizing comments made by Boris Johnson.

In the letter Secretary General of the MCB, Harun Khan says, We thank you for the leadership you had shown when you swiftly took action and demanded an apology from Johnson. We are hopeful that the Party will not allow any whitewashing of this specific inquiry currently in process. No one should be allowed to victimize minorities with impunity.

As we pointed out last week, the reaction to Johnson’s incendiary remarks highlighted the underbelly of Islamophobia that exists within sections of the Conservative Party. Rather than see the bigotry for what it is, we are shocked that a large number of Conservative MPs would seek to back Johnson for his dehumanizing comments, ones that mimicked far-right memes and attacked Muslim women. Even worse, other Conservative representatives such as Nadine Dorries have used the opportunity to whip up hugely hateful Muslim tropes, Khan said.

After raising the problem of Islamophobia in the Conservative Party back in May, the MCB received a tepid response from the Party Chairman and denial from prominent party members and supporters.

Harun Khan states, Since Johnson’s remarks, the evidence base has grown even further, and we fear that attitudes have hardened against Muslims. There have been vile expressions of Islamophobia in Conservative members’ forums, and we have received such hate ourselves.

The letter acknowledges the prime minister’s support for Muslim women and how it is an important issue for her and this Government, as well as her strong stance against Islamophobia.

The MCB has previously stated, The comments and belief by a number of Conservative MPs that not even an apology is required, has shone a light on the underbelly of Islamophobia that is present within the Party � one that can only be tackled by sincerely changing course and positively responding to calls for an independent inquiry into Islamophobia in the Party.

The letter concludes as saying, Given the lack of a material response from your Chairman, we are writing to you to continue the leadership you have previously shown, and to urge you to launch an independent and transparent inquiry into Islamophobia within the Party and more broadly in society.

Source: International Islamic News Agency