Day: December 2, 2019

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PBSC PARTNERS WITH CAREEM INDUBAITO LAUNCH FIRST LARGE-SCALE ELECTRIC BIKE-SHARE NETWORK INTHE MIDDLE EAST

Canada, Dec. 02, 2019 (GLOBE NEWSWIRE) —

  • Bike-share pioneer PBSC enters into multi-year agreement with the Middle East’s leading ride-hailing company, Careem, to launch Careem Bikes in Dubai. 
  • Over the coming months, PBSC will start deploying its E-FIT electric bikes and smart stations throughout Dubai.  
  • The scope of the agreement provides for 3,500 e-bikes and 350 smart stations.   

Montréal, December 2, 2019 — PBSC Urban Solutions, the world leader in smart bike-share solutions, is proud to announce that it has partnered with Careem, the top ride-hailing company in the Middle East, as well as Dubai’s Roads and Transport Authority (RTA), to bring its e-bikes to the Emirate.

Over the coming months, the company will start deploying its E-FIT electric pedal-assist bikes and smart stations throughout Dubai. The multi-year contract provides for 3,500 bikes and 350 stations. This is PBSC’s first foray into the Middle East, after successfully launching earlier this year in cities such as Barcelona, Buenos Aires, Santiago and Monaco. It is also the region’s first large-scale electric bike-share network.

 “We are excited to bring our bike-share and technology solutions to Dubai. This is an important step for our company that builds on our recent momentum in Europe. Together with Careem, we’re on a mission to re-invent what transport means for the millions of people in the Middle East. We look forward to giving Dubai residents a viable and sustainable transportation alternative — one that’s in line with the government’s mobility goals,” says Luc Sabbatini, CEO of PBSC.

In recent years, the RTA has made a concerted effort to improve mobility infrastructure in Dubai through a network of cycling lanes, with plans to more than double these dedicated thoroughfares by 2030. The E-FIT is the perfect vehicle to help the city’s residents and visitors take advantage of these efforts. While Dubai’s topography is relatively flat, the e-bike will give riders a boost when temperatures soar, reducing the amount of energy required to pedal.

The E-FIT is PBSC’s most recent electric two-wheeler. It premiered at the Consumer Electronics Show in early 2019 and is modeled on the company’s FIT, which features a lighter frame and smaller wheels than its original ICONIC bike. The E-FIT has an autonomy range of up to 70 km and its central motor can propel riders up to 25km/h.

Dubai’s system, dubbed Careem Bike, will feature PBSC’s smart station technology, which allows riders to recharge their e-bikes directly at the docking point. This means that operators don’t have to worry about swapping out batteries or manually charging the e-bikes. Adding to the operational efficiency of PBSC’s system is its smart tech that transmits data about battery, bike and network health back to operators, who monitor their system through a bespoke management platform. Both the smart stations and PBSC’s e-bikes have been thoroughly tested and hold multiple safety certifications.

About PBSC Urban Solutions 
PBSC is changing the world, one city at a time. A micromobility pioneer, it develops, markets and operates — alongside its local partners — the most innovative, customizable and reliable public bike-share systems on the market. PBSC’s sustainable technology empowers cities to provide users safe and enjoyable transportation alternatives that reduce congestion and improve quality of life. PBSC currently has four bike models — ICONIC, FIT, BOOST and E-FIT — deployed around the world and continues to expand its global footprint with over 84,000 bikes, 6,800 stations and 350 million rides so far! Visit www.pbsc.com to find out more.

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Nathalie Doré
PBSC Urban Solutions
media@pbsc.com
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Board Meeting other than Financial Result of Cyan Limited

Karachi, Cyan Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on December 10, 2019 at Karachi to consider the Annual Corporate Strategy including Budget 2020 for the Company and any other agenda item, if any, approved by the Board of Directors. Further, the company has declared the Read More ...
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Board Meeting Postponed of Pakistan Refinery Limited

Karachi, Pakistan Refinery Limited informed Pakistan Stock Exchange that the board meeting, schedule on December 05, 2019, has been postponed. The new date for the said meeting will be communicated once it is finalized by the Board. Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May, 1960. The foundations of Read More ...
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ICCI hails FBR assurance not to conduct raids on places of registered taxpayers

Islamabad, December 02, 2019 (PPI-OT): The Islamabad Chamber of Commerce and Industry (ICCI) has welcomed the assurance of Shabbar Zaidi, Chairman FBR for not carrying out raids on places of registered taxpayers for collection of income tax and sales tax and termed it a positive approach as it would reduce the element of harassment from the business community and enable them to focus on promoting business activities with more confidence.

Tahir Abbasi Acting President and Saif ur Rahman Khan Vice President, Islamabad Chamber of Commerce and Industry said that ICCI has always supported the initiatives to broaden the tax base as without improving tax revenue, achieving sustainable economic development was not possible.

They said that chambers of commerce were already playing positive role in promoting formal economy and stressed that FBR should develop a mechanism to maintain regular liaison with these trade bodies to resolve tax issues and improve tax revenue with joint efforts. They said that business community was playing key role in the economic development of the country, but carrying out raids by FBR on business premises was hurting the self-respect and tarnishing the image of businesspersons in society, therefore, such approaches should be avoided.

They stressed that to curb the smuggling, the performance of FBR officials posted at borders and ports should be further improved as smuggling was done in connivance with customs officials while raids were carried out at retailers. They said that retailers were only selling goods and they were issued sales tax invoices while payments were made through cross cheque. Therefore, strict checking of importers was required to cope with this issue.

ICCI Office Bearers said that situation in the federal capital was better but raids by FBR teams in any part of Pakistan on business premises always triggered a wave of harassment in the business community of the country. They said that if FBR has any genuine tax complaint against any businessperson, the department should first take chamber of commerce and industry or market union of the concerned area on board to address such issues with mutual efforts.

They were of the view that a relationship of trust and confidence between the tax collectors and taxpayers was needed to achieve better results for the economy. They hoped that FBR would take more positive initiatives to build a relationship of partnership with business community so that with joint efforts, tax revenue of the country could be improved and Pakistan could be put on the path of sustainable economic growth.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

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Vivo Expands Y-Series Portfolio: Launches Y19 with Massive Battery and AI Triple Rear Camera

Lahore, December 02, 2019 (PPI-OT): Vivo, the global innovative smartphone brand, today launched a new device in its Y-series portfolio – the Vivo Y19. Powered with industry leading 5000 mAh battery, the Y19 is equipped with an AI Triple Rear Camera and Macro capabilities for capturing small details in your daily life – with 18W Dual-Engine fast charging, battery worries are a thing of the past.

Priced at Rs. 31,999, the Y19 will be available in Magnetic Black and Spring White colour variants across all major mobile markets, Vivo’s partner outlets and leading online platforms.

Commenting on the launch, Zohair Chohan, Brand Manager Vivo Pakistan said, “We are strengthening our Y-series with the latest addition of Y19 packed with all the latest features in camera, battery power, shimmering design, fast charging and ultra- game mode for our customers to have a complete smartphone experience in this price segment. We continue to deliver on our promise of innovating and offering the best of technology bundled in our products at the most competitive price points.”

FHD+ Halo FullView™ Display

The 6.53-inch FHD+ Halo FullView™ Display pushes bezels to the limit on all sides, with the front camera nestled beautifully within an elegant notch. Enjoy a 1080 x 2340 super resolution with a screen-to-body ratio of 90.3%, for a flagship visual marvel to immerse yourself in.

Shimmering Colour Design

The Y19 body finish is inspired by the mysteries of nature. Its illuminating view differs from every angle as colours shift and light ripples. The 3D body’s subtle curvatures create a slim outline for enhanced elegance and a comforting hold.

AI Multi-Scenario Photography, Multiple Possibilities

The Y19 AI Rear Camera system incorporates a 16MP main camera, 2MP macro camera and 8MP super wide-angle camera with bokeh capabilities. Its array of photo features caters for almost every photo scene in your everyday life. Wherever your adventure takes you, fantastic images are just a click away.

16MP Front Camera with AI Face Beauty, Tailored Beauty Selfies

The 16MP front camera with AI Face Beauty helps you celebrate your most radiant moments in life, without effort. Experience the ultimate in facial enhancement with AI Face Beauty. Customize how you’d like to look, from face shape to skin tone – it’s just a click away.

5000mAh Battery, Dual-Engine Fast Charging

An industry-leading 5,000 mAh battery is further supported by smart energy management technologies to keep your Y19 powered for even longer. Vivo’s Dual-Engine Fast Charging technology rapidly rejuices this large-capacity battery, while 9 layers of protection mean safety is ensured. Plus, engineered with Reverse Charging, Y19 can charge other devices like a mobile power bank.

Smooth Experience

An octa-core processor with a 12nm design removes the lag from your mobile life. 4GB RAM and 128GB ROM provides the capacity you need to store thousands of song and images. Funtouch OS 9.2 – customized from Android 9 – takes smooth operation to a new level. Plus, rich features like Ultra Game Mode and Voice Changer ensure your user experience is much more fun and memorable.

Pricing, Warranty and Availability

The all-new Vivo Y19 is now available across Pakistan for just Rs. 31,999 with one-year official warranty of Vivo – the phone is duly approved by PTA and is tested to run all 4G networks in Pakistan. Customers who’re using Zong SIM card in the slot 1 of the phone will also get free mobile internet for 6 months.

For more information, contact:
Manager Digital Marketing and PR,
Vivo Mobile Pakistan
Tel: +92-321-4045601
Email: zohair@vivo.pk
Website: https://www.vivo.com/pk/

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LCCI for single digit markup

Lahore, December 02, 2019 (PPI-OT):The Lahore Chamber of Commerce and Industry has urged the State Bank of Pakistan (SBP) to bring down the markup rate to single digit in the larger interest of trade, industry and economy. In a statement, LCCI President Irfan Iqbal Sheikh said that reduction in markup rate from existing 13.25% to single digit would be a great favour to the industrial sector. It would help the government to attain the target of industrial growth, would reduce the cost of product and would also bring capital of the banks into circulation.

“Markup rate influences the cost of product. Pakistani products cannot compete in the international market to those countries which are offering capital to their industries on zero or less than one percent markup rates”, the LCCI President added. He said that policy rate increased to 13.25 in July 2019 as compared to 6.5% in May 2018. Sharp increase in interest rate pushed up borrowing cost that retarded investment, capacity generation and hence exports.

Irfan Iqbal Sheikh said that tight monetary policy stance had always proved a big blow to the industrial sector. “We have to move forward quickly, as like as other countries of the region, to make the country a hub of manufacturing activities and a heaven for investors”, he added. LCCI Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad urged the State Bank of Pakistan to announce at least 400 basic points cut in markup rates in the upcoming monetary policy.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: http://www.lcci.com.pk/

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Meeting of PTA delegation with Honourable President of Pakistan and Chairman FBR on 29th November, 2019 at Islamabad

Islamabad, December 02, 2019 (PPI-OT): Sheikh M. Afzal Hussain, Chairman, Pakistan Tanners Association shared the outcome of two meetings held at Islamabad on 29.11.2019 with the Honourable President of Pakistan, Dr. Arif Alvi wherein placed to him various core issues confronting by PTA’s members / leather Sector of Pakistan, which needs mandatory to be addressed for prompt redressal to provide level playing field to this Vital Industry of the country in comparison with the neighbour competing countries like India, Bangladesh and China to make our members motivate with facilitation for playing their pivotal role continuously for the promotion of exports of leather sector of Pakistan.

The Delegation found the Honourable President of Pakistan was so humble, kind and committed and heard all the grievances/issues being faced by this Industry patiently and assured the delegation to take up the matters with the concerned Ministries like MOF, MOC and FBR strongly for the desired resolution with his recommendation.

Mr. Afzal Hussain, Chairman, PTA also shared the outcome of 2nd important meeting of PTA Delegation held with Chairman, FBR, Mr. Shabbar Zaidi on 29.11.2019 and discussed all core issues, which are vital and detrimental to Leather Industry as below:-

01. Fixing of Ceiling/Benchmark for the refund of Sales Tax for finished leather. Chairman, FBR informed the delegation that the required ceiling has already been revised and inserted in the FASTER Programme system, which is expected not less than 10% for smooth submission of claims without any hurdle. PTA delegation hoped to resolve this core issue for the refund of sales tax for finished leather with revised benchmark/ceiling re-determined by FBR.

02. Rates for Duty drawback for finished leather for cow, buffalo, sheep and goat skins, it was ensured to PTA’s Delegation that the revision of Rates would be considered favourably for revision with the same rate already approved by IOCO instead or existing rates.

03. Withdrawal of SRO # 327, which was revoked recently by FBR, the Delegation was also assured to consider it for the required restoration of SRO # 327, which was very hopeful to our members exporters for the import of required raw materials for the Industry for meeting the consumption requirement for export purpose for yielding the sizeable foreign exchange for the country.

04. Rest of core issues were also discussed in detail with Chairman, FBR such as withdrawal of 2%ACD on import of Cow and Buffalo, acceptance of Indemnity Bond for 17% Sales Tax rather than payment of 7% cash and 10% indemnity Bond for the import of Tanning Machineries for the up gradation of the Industry etc. etc.,

PTA Delegation thanked to the Honourable President of Pakistan for sparing time to have a detailed meeting and his assurance for the resolution of the issues being confronted by the Leather Industry and PTA’s Delegation led by Sheikh Afzal Hussain thanked to Chairman, FBR for having meeting and heard the issues of the Industry with his firm assurance for the resolution to the issue and thanked to him for the revision of Ceiling, which is expected not less than 10% for finished leather to meet the requirement of FASTER Programme for smooth and in time clearance for the refund of Sales Tax to our members, who are severely suffering financially even unable to import the chemicals and raw materials because of liquidity crunch.

PTA Delegation also met with Mr. Usman Dar, Advisor to PM and explained all the grievances of the Industry and he realized the gravity of the matters/situation being related person engaged with Leather Business also and assured the Delegation to take up the issues at his level with the highest Authorities for the resolution.

For more information, contact:
Secretary
Pakistan Tanners Association
46-C, 21st Commercial Street,
Phase II, Extn., Defence Housing Authority,
Karachi-75500 – Pakistan
Tel: +92-21-35880180, 35880184, 35899819
Fax: 92-21-35880093
Email: info@pakistantanners.org
Website: www.pakistantanners.org