ABL’s IPPF breaks billion rupee barrier

KARACHI (PR): ABL Asset Management (ABL AMC), a wholly owned subsidiary of Allied Bank Ltd, successfully raised over Rs 1 billion in its new ABL Islamic Preservation Fund (ABL IPPF). The overwhelming response of retail and institutional investors shows their confidence in the fund manager’s capabilities and its franchise.

With the launch of ABL IPPF, ABL AMC is now managing eight funds with total assets under management of over Rs 27b, making it one of the largest fund managers in the country. ABL IPPF adds to the growing family of ABL AMC’s shariah compliant funds which already include ABL Stock Fund and ABL Islamic Income Fund.  ABL AMC also plans to launch conventional and Islamic pension fund schemes in first quarter of 2014. With these new products, ABL AMC takes another step towards providing value-added and convenient wealth management solutions for its institutional and retail investors. ABL Asset Management Company is currently rated AM2 by JCR-VIS which denotes “High Management Quality”. Its funds are available at all branches of Allied Bank.

Habib University announces scholarships

KARACHI (PR): In an effort to support students with financial constraints and committed to providing world class education to students from all backgrounds, Habib University has offered an unparalleled financial aid and scholarship programme.

Habib University aims to ensure that no qualified student is denied education because of financial reasons and has made the financial aid process easier for prospective students and their families.

Over 100 merit-based scholarships will be provided to the 200 students admitted in Habib University’s first cohort of students.  10pc of Habib University’s students will be on full scholarship while 80pc will be able to avail some form of financial assistance depending on their demonstrated need.

This generosity is unprecedented in Pakistan and comparable to institutions like Harvard University who award around 70pc differing types of aid. The financial aid package of Habib University comprises of merit-based scholarships, grants, on-campus student employment opportunities, and loans. These options are available based on the students’ requirements.

Almirah opens its first outlet

LAHORE  (PR):  The wait is over! The infamous ready-to-wear and accessories brand Almirah has finally opened its doors to the general public in Lahore on Friday December 27, 2013, in a mega launch ceremony attended by Inzimam-ul-Haq, Khawaja Salman Rafiq (Minister of Health), Salman Butt, Muhammad Irfan, Rambo, Sahiba and enthusiastic crowd of Lahore who were present to welcome Almirah.

The event started by ribbon cutting ceremony by cricket legend Inzimamul Haq, Khawaja Salman Rafiq, Salman Butt, Sohail Hamid Khan and comedy king Rambo. Afterwards, Ather Amin, Jahan Khalid, Ali Qayyum and Saad Khan walked the ramp wearing elegant designs of Almirah’s classical shalwar kameez.

The outlet offers a wide range of products which include three piece suits, casual and formal kurtis, printed leggings,

 palazzo, jumpsuits, waistcoats, shoes and accessories. The collection is modern yet elegant and a beautiful fusion of eastern and western wear.

Emaar launches Coral Towers

KARACHI (PR): Emaar launches Coral Towers, comprising three manmade bays right next to the ocean, Crescent Bay is the dream of every urbanite seeking to settle down in a posh coastal location, A safe and exclusive, closed gated community with state-of-the- art amenities and highest standards of luxury, all under the safety and protection of a three-layered, 24/7 security system, Crescent Bay will also be the crown jewel to the up and coming Karachi skyline.

NBP clarifies

LAHORE (PR): This is with reference to the news item published and broadcasted in media “NBP refuses to invest Rs 100 billion in PM’s Youth Loan Scheme”.

NBP clarifies that it has not made any reference/ statement to SBP or any other quarter regarding its refusal to invest appropriate amount in PM’s Youth Loan Scheme.