Bank Alfalah joins hands with ICBC

KARACHI (PR): Pakistan’s premier banking institution, Bank Alfalah has entered into a strategic partnership with prominent Chinese Bank, Industrial and Commercial Bank of China Limited (ICBC), Karachi Branch for cooperation in several areas of banking and finance.

The MoU highlights conceptual framework and guiding principles for cooperation for enhanced financial activities in Pakistan and China and other international locations where each bank may be present.

Under the agreement, both the banks have agreed to refer trade finance business to each other. Both the banks will open accounts with each other to facilitate settlement payments. ICBC Karachi will open a rupees account with BAFL and BAFL will reciprocate by opening a Chinese Yen Nostro Account with ICBC.

The MoU also facilitates for mutual corporate lending and project financing. ICBC will give preference to BAFL in referrals of Chinese corporate clients requiring rupee funding in Pakistan and BAFL will prefer Pakistani corporate clients requiring RMB funding in China. The agreement will also provide for joint syndication and project financing of Pakistan’s priority projects.

BAFL and ICBC have also agreed to undertake treasury related transactions. BAFL role as a primary dealer would provide ICBC with the ability to source Pakistan Government Bonds for ICBC liquidity management needs. ICBC would provide access to BAFL in the international bond markets. Finally, both agree to connect with each other for their foreign exchange transactional requirements.

BAFL & ICBC have also agreed to propose appropriate individual industrial and infrastructure development projects in various sectors of economy of Pakistan including engagement in financing activities, joint studies of technical, economic and financial features of feasibility of projects, providing consultancy services to project investors, joint financing of projects and more. Besides this, both the banks have also agreed to engage in business cooperation in various banking businesses in third country or regions outside the home countries. The banks will also exchange information to enhance mutual cooperation in this regard.

Panasonic launches its latest full-HD camcorder

LAHORE (PR): Panasonic Marketing Middle East & Africa has launched its latest full-HD camcorder HC-PV100 for its Pakistani patrons. The camcorder comfortably assists professional camera work with 3 manual rings, XLR mic/line inputs, and a 20x zoom lens.

Shinichi Wakita, Managing Director PMMAF, said, “Panasonic recognizes Pakistan’s increased potential as a market for its AV products. The demand for AV products is steadily increasing in documentary filmmaking sector as well, resulting in the increased demand for technologies that can meet high-quality video production. We are aiming towards setting new trends and meeting the rising demand in the audiovisual sector in Pakistan with the launch of HC PV 100.”

Panasonic’s HC-PV100 is packed with professional functions such as the 3 Manual Rings that finely control the Focus, Iris, and Zoom, 2-Channel XLR Audio Input Terminals enabling connection to everything from microphones requiring a phantom power supply, to audio equipment with +4 dB output. Other functions, like an Illuminating LED Ring that clearly shows when the camcorder is recording, fully meet the needs of professional, on-site acquisition.

The handheld type camcorder supports enhanced, low-light shooting. It has a 1/3.1-inch Back Side Illumination (BSI) Sensor, which is larger than that of the current model, and a Built-in LED Video Light with a bright 300 lx at 1 meter which is ideal for shooting events like nighttime wedding parties. It also comes with 2 filters – Color Conversion filter and Diffusion Filter.

UET’s 23rd convocation on 8th

LAHORE (PR): The 23rd convocation of University of Engineering and Technology, Lahore will be held on November 8 at main auditorium complex of the campus. Governor Punjab & Chancellor Malik Rafiq Rajwana will be chief guest. Degrees and certificates will be conferred to undergraduate students of session 2012 including session 2011 of Architecture besides students of M.Sc, MBA, MPhil, MS, and PhD, who completed their degree after 22nd convocation held on 18th January.

Rehearsal will be conducted on 7th November, a day before convocation. In this regard, a meeting chaired by Vice Chancellor UET Lahore Prof. Dr. Fazal Ahmad Khalid was held to review and finalize the arrangements.

Lalpir Power organises eye camp

LAHORE (PR): Leading independent power producer (IPP) Lalpir Power Ltd organised a one day eye camp for the residents of Muzaffargarh in collaboration with the Layton Rahmatulla Benevolent Trust (LRBT). More than 1,400 patients were provided free medical attention at the camp.

During the activity, a team of ophthalmologists and support staff from LRBT saw patients at CSR Clinic Lalpir.

The costs associated with patient transportation, prescription fees, treatment expenses and glasses were borne entirely by Lalpir Power as part of the organisation’s corporate social responsibility.

CEO Lalpir Power Ghazanfar Mirza said, “We look forward to collaborating with LRBT again on further healthcare focused initiatives.”

‘Sobha’ leading real estate developer in ME

LAHORE (PR): Sobha Group, a multinational, multiproduct Middle East based company with a strong commitment in the GCC region backed by four decades of expertise and developments and investments across the Gulf Cooperation Council, has grown into one of the most respected names in the entire region. The company has investments in various countries across the Middle East including UAE, Oman, Qatar, Bahrain and Brunei. PNC Menon, founder & chairman of Sobha Group, started his business in Muscat in 1976, where the company has designed and developed various magnificent projects including The Sultan Qaboos Grand Mosque in Muscat.

In the recent past, Sobha Group has been recognised as one of the top real estate companies in the Arab World 2016 by Forbes Middle East and also ranked 9th in the Top 50 GCC Developers Rankings 2016 by Construction Week.