BankIslami to offer 432m shares to meet MCR

KARACHI (PR): BankIslami Pakistan Limited, has announced in the stock market that it is issuing 432 million shares at par to raise its capital to Rs. 10 billion. With this offering, the Bank shall become second Islamic bank to meet the capital requirement of State Bank of Pakistan. As per financial results of the banking industry as at September 30, 2014, Bank Islami commands the second largest market shares in terms of deposits, assets and branch network which consists of 213 branches in 80 cities nationwide. It is planning to add another 24 branches in 2015.

FINCA Microfinance Bank expands network

LAHORE (PR): FINCA Microfinance Bank Ltd, Pakistan’s leading microfinance bank, has opened 18 additional branches in various regions of Pakistan.

The new branches, which were made operational in record time, have opened in major cities, such as Lahore, Karachi, Multan, Hyderabad, Abbottabad, and Bahawalpur, as well as areas with lower access to financial services, such as Tando Allahyar, Liaqatpur, Khan bela, Pakpattan, Mandi Bahauddin, Lala Musa, and Gujar Khan.  The new branch openings come as part of FINCA Microfinance Bank’s aggressive expansion plan. The Bank, which launched its operations in 2008 is committed to drive Pakistan’s microfinance industry expand in scale and outreach.

Commenting on the launch of the new branches, FINCA Microfinance Bank President and CEO Mr. Mudassar Aqil said, “FINCA is striving to provide unparalleled services to all segments of Pakistani society. Our diversified products aim to cater to individuals and businesses from all walks of life. These branches shall help increase our financial outreach by penetrating semi-urban and rural regions so that people make use of financial opportunities.”

Tevta will provide certificates to uncertified manpower

LAHORE (PR): Tevta will provide certificates to uncertified manpower who acquired learning through Ustad Shagird Sytem. They will be able to get jobs in public and private sector as well as abroad. In this connection, fifteen vocational courses of 3-Months duration would be started soon as a pilot project in seven selected institutes of District Lahore. The courses include Auto Electrician, Auto CAD(Civil), AutoCAD (Mechanical), Mason, Plumber & Sanitary Installer, Electrician, Auto Mechanic (Petrol), Mobile Phone Repair, Steel Fixer, Welder, Machinist, Motorcycle Mechanic, HVACR, Beautician and Building Painter.  It was stated by Chairperson TEVTA Irfan Qaiser Shaikh while addressing a meeting at TEVTA Secretariat.  COO Jawad Ahmed, GM Abdul Qayyum, Hamid Ghani, Azhar Iqbal  and other officers were also present.

Irfan Qaiser said that Technical Training Institute, Mughalpura & Gulberg, Govt. College of Technology Railway Road & Raiwind Road, Govt. Vocational Training Institute for Women Dev Smaj Road & Township and Govt. Technical Training Institute for Women Township have been included to offer these courses.

 Infact the idea behind this is that Recognition of Prior Learning (RPL) is a process by which an authority assesses the knowledge, skills and competencies, an individual has acquired through informal learning (Ustad Shagird System) to count towards a nationally recognized qualification.  After successful launching of this program, it would also be introduced in selected TEVTA Institutes across the province of the Punjab.

Dawlance launches ‘The Ideal Washing Machines’

KARACHI  (PR): “Ideal” is the term used by home appliances giant Dawlance for its new series of automatic washing machines that have been designed based on extensive market research. The machines have been manufactured to deliver superior fabric care while also delivering in terms of ecological sustainability and decreased laundry costs.

The market research commissioned by Dawlance identified several features that customers wanted in their ideal washing machine, which set the wheels in motion at the brand’s R&D department.

Humza Mahfooz, Category Manager of Washing Machines, Dawlance, said, “The specifications of our models are informed by our in-depth knowledge of the needs of the consumer. Hence, the new series incorporates all of those features desired by the average user. They consume (35%) less water and electricity, are fully automatic, come in multiple colors, clean clothes more quickly as well as more thoroughly and are reasonably priced relative to similar products in the market.”

The fully automatic feature means that the product not only washes clothes but also dries them without being prompted by the user. The machine carries out both functions – washing and drying – in the same tub that is large enough to accommodate heavy loads. One of the models in the new series is a One-Touch automatic washing machine, which as the name indicates requires only one button to operate. The product was developed to address the demand of simplicity as surveys suggested that maids and even many housewives found many automatic washing machines difficult to operate.

Haier extends global brand market share to 10.2pc

LAHORE (PR): Haier was ranked again as the Number One global major appliances brand with 10.2% retail volume market share in 2014 according to the latest data released by Euromonitor International, the world’s leading independent provider of business intelligence on industries, countries, companies, and consumers. It is learned that this is the sixth consecutive year that Haier has been rated as the top of the Top Euromonitor Global Major Appliances Brands and the first time that Haier’s global retail sales has reached double digits. Haier also tops Euromonitor International’s ranking in three product categories including Refrigeration Appliances, Home Laundry Appliances and Electrical Wine Cooler/Chiller.

The past year 2014 has witnessed profound changes in the world’s home appliances market. Household appliances giants in Europe and America as well as Japanese appliances brands have displayed unexpected changes. Global household appliances sales have experienced continuously decreasing growth and even negative growth.

 However, the research data from Euromonitor shows that Haier’s global retail sales of major appliances have maintained a continuous increase since Haier topped the Euromonitor Global Major Appliances Brands rankings in 2009 with a global market share of 5.1%.This time Haier’s crowning for the sixth consecutive year with an absolute advantage of 10.2% in global market share .

Haier’s continuous increase in global sales of major appliances is due to its ability to rapidly respond to the users’ pain points and meet users’ needs. Take refrigerators that are plugged in 24 hours as an example, the direct cooling refrigerators currently used by most households in China are not only power-hungry but also, in the case of frost formation, encourage the thriving of bacteria and are hard to be defrosted. However, the air cooled frost-free refrigerator developed by Haier resolves these user problems once and for all. Also, due to the revolutionary technology Haier’s air cooled refrigerators have gradually started to be universally spread.  

Secondly for instance the washing machines that need be used weekly and even daily in many households. The inner tank of a pulsator washing machine that has been used for three years is reportedly 500 times dirtier than the closestool. In everyday life, consumers either know nothing about it or need regularly clean the washing machine tanks. Haier’s “No Need to Be Cleaned” washing machines enable consumers to have clothes washed really clean in cleaner tanks. In spite of the high price starting from 3999 RMB, Haier’s magical washing machines reaped nearly a sales volume of 200,000 units in 5 months, surpassing the industry’s high-end pulsator washing machines.     

In addition, Haier’s wine coolers/chillers, like freezers, have also solved the pain spots of consumers and met those needs. Haier’s global sales of 22.8% with freezers and 18.1% with wine coolers/chillers represent their shares in the minds of users and also prove the popularity of these two products among the users.