Board of Directors meeting of JDW Sugar Mills Limited

Karachi, JDW Sugar Mills Limited informed Pakistan Stock Exchange that Board of Directors meeting of the company will be held on January 02, 2020 at Lahore. The agenda of the meeting will to consider the Annual Accounts for the period ended September 30, 2019. Further, the company has declared the closed period from December 24, Read More ...

VIS Reaffirms IFS Rating of Chubb Insurance Pakistan Limited

Karachi, December 24, 2019 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed the Insurer Financial Strength rating of Chubb Insurance Pakistan Limited (‘CIPL’ or ‘the Company’) at ‘AA’ (Double A). The rating signifies very high capacity to meet policyholder and contract obligations. Risk is considered modest but may vary slightly over time due to business /economic conditions. Outlook on the assigned rating is ‘Stable’. Previous rating action was announced on December 31, 2018.

Chubb Insurance Pakistan Limited (‘CIPL’ or the Company) operates as a wholly owned subsidiary of Chubb INA International Holdings Limited (U.S.A). The Company follows a very selective underwriting strategy. CIPL’s primary competitive advantage is the sizable treaty capacities arranged with associate Group Company; as the counterparty, in this case is highly rated on the international scale, which allows CIPL to underwrite complex and specialized risks across the property line.

Ratings assigned to Chubb are underpinned by the strong sponsor profile i.e. The Chubb Group, one of the world’s largest multiline Property and Casualty insurers with operations in 54 countries. The rating further incorporates reinsurance arrangements with Chubb Tempest Reinsurance Ltd., Bermuda (CTRL), belonging to the Chubb Group as well. In addition, the assigned rating also factors in the underwriting performance and leveraging, which compare favourably to peer median.

In 2018, business volumes for the company declined by 17.2%, mainly due to a decrease in business in the Fire and Property (F and P) segment. So far, gross premium underwritten in 9M’FY19 is 40% higher than SPLY. The management has envisaged to maintain this growth for full year. Profitability metrics and leverage have slightly weakened, albeit remaining in line with peers. Liquidity profile derives comfort from the liquid assets to liabilities ratio of more than 1x. Conversely, we have noted an uptick in insurance debt; albeit the management attributes this to growth in premium receivable within agreed contractual terms. The aging profile of the insurance debt is considered sound.

The outlook for 2020 derives impetus from the expected addition of CPEC-led power projects and potential construction of mega-infrastructure projects such as dams. The assigned ratings remain dependent on maintenance of leverage and profitability metrics, in line with peers.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/

Pakistan Petroleum Limited organizes eye camps at Adhi

Karachi, December 24, 2019 (PPI-OT): Pakistan Petroleum Limited in partnership with Al-Shifa Trust Eye Hospital recently organized four free-of-cost surgical eye camps near the company’s Adhi Field in Punjab between December 17 and 22. The camps were held at Daultala, Naban Janjua and Dhong villages in Tehsil Gujjar Khan, District Rawalpindi and Langah in District Chakwal, benefitting nearly 2300 locals. Of these, nearly 1400 patients were provided spectacles while over 150 cataract surgeries were performed.

Annual surgical eye camps are a regular feature of the company’s Corporate Social Responsibility Programme aimed at improving the health profile of deserving communities residing around its producing fields. The camps provide a complete solution to various ophthalmic problems through quality consultation and treatment, provision of medicines and spectacles as well as on-site cataract surgeries, using latest technology.

For more information, contact:
Pakistan Petroleum Limited (PPL)
4th Floor, PIDC House, Dr. Ziauddin Ahmed Road,
P. O. Box 3942, Karachi – 75530, Pakistan
UAN: +92-21-111-568-568
Tel: +92-21-35651480-89
Fax: +92-21-35680005, +92-21-35682125
Email: info@ppl.com.pk
Website: https://www.ppl.com.pk

Realme Pakistan launches most stylish realme 5s with upgraded 48MP Quad Camera Powerhouse setup at Rs. 29,999/-

Lahore, December 24, 2019 (PPI-OT): Underscoring its “Dare to Leap” proposition in the market, realme, the fastest growing smartphone brand in Pakistan, today unveiled its 48MP quad camera power hero smartphone – realme 5s equipped with Qualcomm Technologies’ mobile platforms, Qualcomm® Snapdragon™ 665 that provide users outstanding performance in under 30K price segment.

Since its launch, realme 5 has been well received by consumers with many positive reviews. Particularly noteworthy is the fact that realme 5 is the first product in its price range with a quad-camera feature that provides users with a greatly enhanced and superb multi-scene and multi-function imaging experience. This time around, realme has further upgraded the camera system with a whole new 48MP AI Quad Camera configuration, to bring our users the experience of flagship level ultra-high definition photography.

With users requiring even better imaging performance and the development in mobile imaging technologies, ultra-high resolution imaging has become the next area of breakthrough in the exploration of mobile imaging technologies. The new 48MP quad-camera imaging system of realme 5s can take photos with resolutions as high as 8000*6000 producing images that are clear and with fine details even after zooming or cropping.

In addition, realme 5s adopts the Tetracell technology, which merges four neighbouring pixels into a single 1.6μm large pixel, to produce 12-megapixel photos with clearer and higher quality images in low light conditions. This has greatly improved the overall performance of realme 5s in photography. The phone also supports other innovative imaging functions, including Super Nightscape 2.0 and ChromaBoost. These features, combined with AI technologies and realme’s well-trained processing algorithms, enable realme 5s to meet photography requirements and allow users to take great photos in different scenes and settings with ease.

Aesthetically, realme 5s features the classic holographic colour pattern with diamond cutting design, and now comes in a new vibrant colour called Crystal Red, bringing users more fashionable choices. Performance-wise, the phone is powered by a 11nm Qualcomm Snapdragon 665 AIE processor along with a 5000mAh massive battery, ensuring strong performance with great battery life.

With a stylish and youthful design, a flagship-level ultra-high-definition quad camera setup, as well as top-notch battery life, realme 5s offers users a well-balanced experience that is superior to what its competitors are offering, making it one of the most competitive products in its price range. realme 5s comes in only one configurations in terms of ram and storage: 4GB + 128GB. The phone will be officially available for purchase on Rs.29,999/-.

For more information, contact:
Realme
Email: global@realme.com, pr@realme.com
Website: https://www.realme.com

ICCI calls for implementation of Quaid’s economic vision to make Pakistan prosperous country

Islamabad, December 24, 2019 (PPI-OT): The Islamabad Chamber of Commerce and Industry (ICCI) celebrated the 144th birthday of Father of the Nation, Quaid-e-Azam Muhammad Ali Jinnah with enthusiasm and national spirit. To mark the birth anniversary, a cake cutting ceremony was held and Quaid’s guiding principles of unity, faith and discipline were highlighted. Hamza Shafqaat Deputy Commissioner Islamabad, Zubair Ahmed Malik Chairman Founder Group, Muhammad Ejaz Abbasi Vice President FPCCI, Khalid Chaudhry and others were present at the occasion.

Speaking at the occasion, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry called upon the government to take strong measures to implement the economic vision of Quaid-e-Azam to make Pakistan a self-reliant, progressive and prosperous country. He said at the birth of Pakistan, its opponents had predicted that Pakistan would survive economically but Quaid-e-Azam motivated the economists and entrepreneurs to take active part in the economic development of Pakistan and make it a strong economy.

He said from the very beginning, Quaid-e-Azam had stressed upon the need of developing a strong industrial base side by side with promoting agriculture to reduce Pakistan’s dependence on foreign world. He said the whole nation along with business community has follow the Quaid’s golden principles to make Pakistan a strong economy of the region.

Hamza Shafqaat, Deputy Commissioner Islamabad said that Quaid-e-Azam had termed commerce and trade as the life-blood of the nation and had advocated for maintaining honesty and integrity to make Pakistan a hallmark for standard and quality in the marketplaces of the world. He said the annual anniversary of Quaid-e-Azam reminded the business community to act upon the Quaid’s economic vision to make Pakistan a progressive and prosperous country. He said that the government was according high priority to trade and industry and assured that ICT Administration would take all possible measures to address the key issues of business community.

Tahir Abbasi, Senior Vice President and Saif ur Rahman Khan Vice President ICCI said that Quaid-e-Azam had stressed upon the need of eradicating illiteracy and providing the best possible training to technicians, scientists, businessmen and other professionals to produce trained and professional manpower for speeding up economic growth. They urged that government should pay heed to the guiding principles of Quaid-e-Azam and focus on establishing a strong network of vocational and technical training institutes across the country to produce trained and skilled manpower that would help in putting the country 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

President KCCI demands more resources for Karachi to cope with urbanization challenges

Karachi, December 24, 2019 (PPI-OT): President Karachi Chamber of Commerce and Industry (KCCI) Agha Shahab Ahmed Khan has demanded that keeping in view the massive urbanization, it is high time that the Federal and Provincial governments must enhance all resources being allocated to this city otherwise the miseries already being faced by Karachiites, mainly due to poor infrastructure and lack of basic amenities, would continue to worsen further in the days to come.

In a statement issued, Agha Shahab pointed out that Karachi, which generates a mammoth amount of more than 70 percent revenue to the national exchequer and 95 percent plus revenue to Sindh Revenue Board, deserves special attention but unfortunately, almost all the major issues being suffered by the city since quite some time now were not being taken into consideration neither by the federal government nor by provincial government.

“Our city faces numerous challenges including poor infrastructure, dilapidated roads, chocked sewerage lines, severe traffic jams, inexistent public transport, water, gas and electricity shortages, encroachment problems and a host of other civic issues that have resulted in terribly worsening the overall standard of living and doing business in Karachi”, he added.

Identifying some the serious civic issues being faced by Karachiites, Agha Shahab mentioned that large population of dogs leading to people getting bitten and infected with rabies, garbage and sewerage issues, street crimes, water crises caused mainly by the tanker mafia, lack of parks and public places, air pollution, beggar mafia and land mafia etc. were some of those serious problems which require an immediate and effective strategy to save this important city from further disaster.

President KCCI further stated that the standard of living has deteriorated sharply in Karachi where population keeps on rising mainly due to massive influx from all provinces of the country but Karachi is not in a position to cope with such migration levels which pose serious challenges particularly shelter to the urban poor and security problems. “People are moving from the countryside to Karachi in droves, and for various reasons, of which one of the major reason is to seek better livelihoods and employment opportunities which are hardly available because of depressed performance of the industrial sector.”

President KCCI further noted that Karachi, which is ranked among the bottom 10 cities in the Global Liveability Index, is one of the most disaster-vulnerable cities in Pakistan where population levels are high. “No cohesive transportation policy exists for Karachi, even as thousands of new vehicles are added to the roads each day. Karachi’s transport problems cannot be resolved by simply investing in more infrastructure and facilities.

The solution lies in a comprehensive strategy and efficient out-of-the-box solutions”, he said, adding that no mass transit project announced by the past few federal, provincial or municipal governments have come to fruition yet and even the Green Line BRT remains a dream as work on the federally funded Green Line seems to have been stalled as parts of the city center remain dug up and are inaccessible to commuters.

He cautioned that there is a threat to liveability in Karachi, which has been acting as the engine of growth. Hence, the decision makers will have to devise effective strategy to save this city and provide some relief of perturbed Karachiites. “Pakistan needs a sustainable growth rate of around 7-8 percent in order to deal with the ongoing economic crises and create at least two million jobs for the youth entering the job market, which can only be achieved if Karachi city receives enhanced share from the federal and provincial pools”, he stressed.

For more information, contact:
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Phone: +92-21-99218001-09
Fax: +92-21-99218040
Email: info@kcci.com.pk, secretary@kcci.com.pk
Website: www.kcci.com.pk

Level up to a quality smartphone experience with the new Nokia C1

Karachi, December 24, 2019 (PPI-OT): HMD Global, the home of Nokia phones, today announces the Nokia C1, a smartphone designed to entertain – anytime, anywhere. Featuring an impressive 5.45” display, fans can watch their favourite videos and listen to music with ease. With lighter apps and less bloatware, you are able to store up to 3,000 songs or 24 hours of videos for offline consumption, cutting down on data usage. Combined with all-day battery life, you’ll have enough power to keep you watching, listening and talking from sunrise to sunset.

Arif Shafique, Head of Near East, HMD Global said: “We are thrilled to welcome Nokia C1 to our fans in Pakistan. Nokia C1 is a smartphone that echoes Nokia brand’s values of quality, reliability and ease of use. This sleek device provides a seamless experience powered by AndroidTM 9 Pie (Go edition) for an optimized storage so our fans can enjoy their favourite content on the go. Nokia C1 is a truly unique affordable 3G alternative that offers a combination of a large 5.45” screen and all-day battery life”.

Lasting entertainment

Not only does the impressive 5.45” display let you immerse yourself in your favourite videos anywhere but coming with AndroidTM 9 Pie (Go edition), the Nokia C1 has fewer pre-installed apps and is designed to optimise storage, meaning you can keep more of your favourite content with you. The Nokia C1 comes with enough internal storage for up to 3,000 songs or up to 24 hours’ worth of videos and can be expanded with a micro SD card to up to 64GB for those that need more. Coming with 3G connectivity and all-day battery lifei, the Nokia C1 really is a go-to smartphone for entertainment, allowing you to keep the chat and apps going from sunrise to sunset.

Looks that stand out

The Nokia C1 stands out thanks to its stylish metallic finish. It’s built with a durable polycarbonate cover to withstand the knocks of everyday life and look good doing it. The removable cover gives you access to the battery if needed.

Capture and relive higher quality photos

Raise your selfie game with the front facing flash and 5MP camera, helping you get that perfect shot even after dark. Plus, you can now take and make video calls, be it day or night. Combined with a 5MP rear camera, you can snap memories in the moment. Point and shoot stunning photos with the auto-focus rear camera.

View and edit your memories offline with Gallery Go; a light, fast, and offline gallery optimised for your phone. Enjoy one-tap editing and easily relive all your memories with automatic organisation – even offline.

The Google Assistant buttonii – The fastest way to your Google Assistant

The Nokia C1 comes with easy access to helpful innovative services including the Google Assistant, helping you get things done throughout the day, even on the go. To get started, just press the Google Assistant button and you can find out the latest weather, news, sports information, call your family, play videos and more.

Android 9 Pie (Go edition): Ready. Set. Go.

Users can tap into new possibilities with Android 9 Pie (Go edition), enabling easy access to YouTube Go, helping you download, enjoy and share videos with limited storage or slower network speeds. This means you can watch your favourite videos offline, in addition to using helpful apps like Google Maps on the Google Play Store.

Android 9 Pie (Go edition) is built leaner, faster, and safer than ever before, so you can go bigger in everything you do. For example, Google Maps Go provides your location, real-time traffic updates and directions, plus train, bus, and city transit information. You can even search and find phone numbers, addresses, and information about millions of places.

Pricing and availability

The Nokia C1 comes with 1GB RAM and 16 GB of internal storage and will be available in Black and Red from 1 January at a retail price of PKR 8500.

For more information, contact:
HMD Global
Aurora Tower, 26th Floor, Dubai Internet City,
Dubai, UAE – 500019
E-mail: press@hmdglobal.com
Website: www.hmdglobal.com