Gul Ahmed begins summer in style

KARACHI (PR): Gul Ahmed begins the summer with flair, fashion and finesse. As the season brings a splash of vibrant colours that are brightened by the sun, an urge to evade the heat in style also boosts up. Gul Ahmed has come up with innovative yet catchy designs and prints for both contemporary and classic genres. This year’s collections are about imagination with exquisite designs and contrasting colors that make a bold fashion statement.  All collections have been specially developed to complement everyone’s taste and liking.

Bank Alfalah to launch branchless banking services

KARACHI (PR): Muller & Phipps Pakistan (M&P) and Bank Alfalah Limited (BAFL) have signed an agreement appointing M&P as a super agent of the Bank, to offer branchless banking services to clients through its widespread network of retail outlets. Together, both organizations will employ state of the art technology to provide financial solutions to large segments of the unbanked and under banked population in Pakistan.

Speaking at the occasion Mr. Atif Bajwa, Chief Executive Officer, Bank Alfalah said:  “Joining hands with M&P, the largest and oldest distribution company of Pakistan, is an innovative step to support the creation of an alternate payments ecosystem. With enhanced scale for our branchless offering through M&P’s vast, nation-wide footprint, we are optimistic that this collaboration will eventually provide a platform for multiple players to synergize their expertise and cohesively augment financial inclusion in Pakistan.

Jubilee Life Insurance announces results

LAHORE (PR): Jubilee Life Insurance Company Limited announced towering financial results for the year ending on 31 December 2013, cementing its position as the leading insurance company of the private sector. The results were declared by the Board of Directors who met under the chairmanship of Mr. Masood Noorani to review the performance of the company.

The company reported a pre-tax profit of Rs 1,390 million for 2013, up 72% from Rs 809 million for preceding year. With after-tax profit of Rs 941 million, the earnings per share (EPS) stood at Rs 15.01.

The company announced a final cash dividend at Rs 3.50 per share, which is in addition to an interim dividend paid earlier at Rs2.50 per share. The  board of directors have also recommended to issue bonus shares in the proportion of 15 shares for every 100 shares held.

Telenor gives Rs142m for flood-hit schools’ rehab

LAHORE (PR): Continuing with its vision to empower communities through its corporate social responsibility program, Telenor Pakistan is partnering with PLAN International to rehabilitate and improve the quality of education through ICT in middle level public schools affected by floods. The project was announced at a ceremony in Lahore, which was attended by Governor Punjab Chaudhry Muhammad Sarwar, Chief HR Officer, Telenor Pakistan Shoaib Baig, Country Director PLAN International Rashid Javed and other high-level government dignitaries.