A dialogue between two industrial cities: Wuppertal Photo Exhibition launched in China’s Dongguan to commemorate the bicentenary of the birth of Friedrich Engles

DONGGUAN, China, Nov. 30, 2020 /Xinhua-AsiaNet/–The 2020 Dongguan Citizen Photography Week with the theme of “City – Quality”, held by the Information Office of Dongguan Municipality, has kicked off in Dongguan, China, with Friedrich Engles’ Hometown Wuppertal Photo Exhibition being one of the activities. The Exhibition works as a “window” for the citizens of Dongguan to learn about the sister city of Wuppertal and show the friendship, and a way to commemorate the bicentenary of the birth of the great philosopher Engels. It is also a great way to further strengthen exchanges and promote mutual understanding between the two cities.

“Welcome to Wuppertal, the hometown of Friedrich Engels! The city is located in the North Rhine-Westphalia state, western Germany, neighboring to Dusseldorf and Cologne. In 2015, Dongguan and Wuppertal became sister cities and they have carried out exchanges and cooperation in various fields including economy, culture, science and technology. How amazing is this city? Please take a ride on the unique 100-year-old suspension train (Schwebebahn) and enjoy a cultural journey through time and space”, as shown on the photo exhibition.

Against the backdrop of the sudden onslaught of COVID-19 this year, the Exhibition surpasses space to strengthen cultural exchanges between China and Germany. Photos are becoming the vivid media for the two nations to share histories and enhance dialogues among civilizations.

This year marks the 45th anniversary of the establishment of China-EU diplomatic relations and the 200th anniversary of Engels’ birth. Wuppertal, his hometown, has designated this year as the Year of Engels. Dongguan, together with its sister city Wuppertal, hold the Exhibition, in ways to strengthen civilization exchanges in a more open and inclusive manner, inspiring people in terms of the fight against COVID-19 and economic recovery.

The opening ceremony day of the Exhibition, namely November 28, marks the bicentenary of the birth of Engels. Dr. Johannes Slawig, Chief Executive of Wuppertal said in the blessing video, that the Exhibition helps maintain the two cities’ communication at present, offering opportunities for Dongguan citizens to discover Wuppertal. The photo exhibitions held in both 2019 and this year symbol our friendship which can overcome all barriers. Meanwhile, Dr.Bluma, curator of the Engels museum also sent his best wishes through video, welcoming the locals to pay a visit to the museum.

Wuppertal is an important industrial city in Germany and shares many similarities with Dongguan in terms of industrial development. Since the two sides become sister cities in 2015, they have strengthened connections through the exchange of civil servants, inviting people from Wuppertal to attend summer camps in Dongguan, and exchange visits of delegations in trade, economy and environmental protection. In December last year, the Photo Exhibition of Dongguan, with the theme of “Connecting with the World through Manufacturing – Diversified Urban Culture” went to Paris, France, and Wuppertal, Germany, telling the world how Dongguan pursues quality development and embraces the world.

The Dongguan Citizens Photography Week has been held for 5 consecutive times, each attracting nearly 200,000 citizens to attend. It has become an annual cultural feast in Dongguan. In this year’s event, Dongguan also launched its brand new bilingual city album “Quality Dongguan”, which will be released and sold nationwide, in order to make readers at home and abroad to know more about Dongguan.

Source: The Information Office of Dongguan Municipality

Bombardier Appoints Bart Demosky Executive Vice President and Chief Financial Officer

MONTREAL, Nov. 30, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today the appointment of Bart Demosky as Executive Vice President and Chief Financial Officer, effective immediately. Bart will report to Éric Martel, President and Chief Executive Officer, Bombardier Inc., replacing John Di Bert who will be leaving the Company.

“We are very excited to welcome Bart to the Bombardier leadership team,” said Éric Martel. “He is an accomplished leader with broad financial experience and an impressive track record of success at some of Canada’s largest corporations. Bart’s deep knowledge and expertise in all aspects of corporate finance will serve us well as we complete our strategic repositioning to a leaner, more focused company. I’m confident that Bart will provide strong leadership as we manage through the current economic challenges and continue to position Bombardier for the future.”

Bart brings over 30 years of experience leading organizational transformations and building high-performing financial organizations in the transportation, energy, infrastructure and services industries. His previous leadership roles include serving as the President and Chief Executive Officer of Universal Rail Systems Inc., Executive Vice President and Chief Financial Officer for Canadian Pacific Railway and Chief Financial Officer for Suncor Energy. He holds a Bachelor’s degree in Economics from the University of Calgary and is an Honours graduate from the University of Calgary’s Management Development Program.

“As we welcome Bart to the Bombardier team, I also want to acknowledge and thank John Di Bert for his many contributions to Bombardier,” Martel added. “We wish John continued success in all his future endeavours.”

About Bombardier
With over 52,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc. and its subsidiaries.

For Information
Jessica McDonald Patrick Ghoche
Advisor, Media Relations Vice President, Corporate Strategy
and Public Affairs Investor Relations
Bombardier Inc. Bombardier Inc.
+1 514 861 9481 +1 514 861 5727

Pakistani fashion e-commerce startup Clicky.pk attracts USD 700,000 in Pre-Series a funding round

Lahore, November 30, 2020 (PPI-OT): Lahore-based fashion e-commerce startup, Clicky.pk, closed USD 700,000 in a Pre-Series A round of funding. Former executives from Amazon MENA region as well as Xiaomi along with few other angel investors participated in the round.

Founded in 2016 by Muhammad Khalid and Syed Shahzad, Clicky.pk is Pakistan’s top fashion-focused marketplace and retail startup. Having known each other for 15 years, the founders go back to the Manchester Business School, with extensive working experience in the Middle East.

Asif Keshodia, former MENA Executive of Souq.com and one of the key investors in this round said, “I am thrilled to be a part of this startup in Pakistan – Clicky.pk is going to take customer experience to new heights and address the growing demand for online fashion retail in the region. We see a massive opportunity here, looking at successful online fashion destinations launched in other markets like ASOS in the UK, Zalando in Germany, and NET-A-PORTER in France. With local investors being stakeholders, it’s a testament to the confidence that exists in the huge market potential for e-commerce in the country”.

Now the larger focus for Clicky.pk is to work directly with manufacturers and build private labels across diverse fashion categories. The new funds will be used to grow a team of fashion designers for home-grown labels. The fashion marketplace will also invest in logistics and supply chain in four major cities of Pakistan, focusing on improving the customer experience. Two fulfilment centres will be based out of Lahore and Islamabad.

Earlier investors of Clicky.pk include Souq.com and Fatima Ventures. Representing the local investor on the Board of Clicky.pk, Ali Mukhtar from Fatima Ventures said, “Khalid and Shahzad have been building a focused e-commerce business and we are excited to see how this investment will bring opportunities for local brands and private labels to grow and provide a high-quality fashion retail experience to Pakistani consumers.”

Pakistan’s e-commerce market value has crossed USD 1 billion, with an average pre-paid order value of USD 27.8 in 2019. Fashion and apparel remains one of the top three categories of e-commerce in the country. Search insights from Google also tell the popularity of women’s wear, with 89% of Pakistani consumers researching fashion products online before purchasing.

The fashion industry in the country is projected to grow its revenue by USD 5 billion in the next three years. Currently, 12% of the total market revenue in the fashion segment is generated through online sales. By 2023, e-commerce fashion sales are expected to grow by 18% across apparel, footwear, and fashion accessories.

For more information, contact:
Asiatic Public Relations Network (Pvt.) Limited
House # F-5, First Floor, Block 9, Clifton, Karachi, Pakistan
Tel: +92-21-35837674, +92-21-35867576, +92-21-35372402
Fax: +92-21-35867103
Email: info@apr.com.pk
Website: www.apr.com.pk

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VIS Upgrades Entity Ratings of AKD Securities Limited

Karachi, November 30, 2020 (PPI-OT): VIS Credit Rating Company Ltd. (VIS) has upgraded the entity ratings of AKD Securities Limited (AKDSL) from ‘A/A-2’ (Single A/A-Two) to ‘A+/A-1’ (Single A Plus/A-One). Outlook on the assigned ratings is ‘Stable’. Long Term Rating of A+ reflects good credit quality, adequate protection factors. Risk factors may vary with possible changes in the economy. Short Term Rating of A-1 indicates high certainty of timely payment, excellent liquidity factors supported by good fundamental protection factors and risk factors are minor. The previous rating action was announced on September 27, 2019.

The revision in rating takes into account improvement in AKDSL’s market share, strong growth in topline and notable improvement in efficiency ratio. The revenue base also depicts increased diversification, with higher contributions from consultancy income and investment return on financial assets. The +60% growth noted in brokerage income was partly on account of an increase in market share, albeit was mainly driven by the higher equity market volumes, noted in FY20, and was in line with the industry.

The assigned ratings continue to factor in AKDSL’s long-standing experience in equity brokerage business, strong sponsor profile, sizeable retail clientele and adequate leverage and liquidity indicators. The ratings incorporate cyclical nature of the brokerage industry, which depicts sensitivity to changing market volumes; and the company’s market positioning in the industry, given a market share of more than 11%.

Going forward, management will continue to focus on growing its retail clientele, which remains a core pillar of its strategy. On corporate advisory and underwriting front, management expects revenues from the segment to depict healthy growth in the ongoing year given present mandates in the pipeline and expected materialization of ongoing projects.

Lately, the company has disclosed its intention to acquire BIPL Securities, wherein the company has qualified as the highest bidder. Ratings of the AKDSL will be revisited, as and when the transaction materializes. The assigned ratings remain dependent on maintenance of profitability, liquidity and capitalization ratios, in line with threshold for the assigned rating.

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/

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PM approves setting up of Export Development Board

Prime Minister Imran Khan has in principle, approved setting up of Export Development Board (EDB) to enhance exports.

The approval was granted during Prime Minister’s meeting with his Commerce Advisor Abdul Razak Dawood in Islamabad today (Monday).

The Prime Minister will be the President of Export Development Board, while all stakeholders relating to exports are given representation in the board.

Meeting of the EDB will be convened every month in which exporters will be invited so that their problems be resolved on priority basis.


Source: Radio Pakistan

KP CM directs reconstructing Anti-Corruption establishment at earliest

The Khyber Pakhtunkhwa Chief Minister Mahmood Khan has directed reconstructing Anti-Corruption establishment at the earliest.

Presiding over a meeting in Peshawar, he directed the concerned authorities to present the new draft of the provincial anti-corruption establishment by all means within three weeks.

The Chief Minister said the provincial government has made itself accountable to the public by passing laws of Right to Services and Right to Information.

He said the government has introduced reforms and a system of reward and punishment in all its departments.


Source: Radio Pakistan

Balochistan Govt to prepare second five-year education sector plan to improve literacy rate

Balochistan government will set up the second education sector plan for five years to improve literacy rate in the province ensuring a bright future for the younger generation of the province.

According to an official of education department, the plan would be formed in collaboration with the Global Partnership for Education and United Nations International Children’s Emergency Fund (UNICEF), which would be tabled soon to the provincial cabinet for approval.

He told that the Chief Minister has directed to increase literacy rate in the province.

The Chief Minister also directed that appointments should be made at the district and union council level on contract basis to utilize the capabilities of the graduates.

He said that this process would not only improve the quality of education but also provide ample employment opportunities to the graduates.


Source: Radio Pakistan