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Huawei Consumer Business Group predicts to beat 2015 performance

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Huawei Consumer Business Group (CBG) revealed its expected 2016 annual performance figures indicating a 42 per cent increase when compared to 2015. With anticipated sales revenue of USD $26 billion Huawei CBG is showing steady growth for the fifth consecutive year. Additionally, smartphone shipments reached 139 million units presenting a year-on-year growth of 29 percent. According to IDC, the increasing rate of global smartphone shipments was only 0.6% in 2016, which means Huawei has outperformed the overall market. Mr. Richard Yu, Chief Operating Officer of Huawei CBG commented on the results saying, "Despite tough market conditions Huawei CBG is still
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Business

Minister Petroleum Khaqan Abbasi to open Energy Forum 2017

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The Minister for Petroleum & Natural Resources, Shahid Khaqan Abbasi, will inaugurate the 9TH Pakistan Energy Forum 2017 being held on February 23 at 9.30 a.m. at the Marriott Hotel Islamabad. The theme of the conference is “Approaching New Frontiers in Energy Efficiency” and will dilate on critical current trends in the energy sector. The keynotes will be addressed by Mr. Umer Masood, Additional Secretary, Ministry of Water & Power and eminent economist, Mr. Sakib Sherani, CEO, Macro Economic Sights. The opening session on Strategic & Regulatory Paradigm for Energy Sufficiency will be chaired by Chairman WAPDA General (Retd) Muzammil
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Business

SEED ventures and SEA International to launch Social Enterprise Academy in Pakistan

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The partnership between Social Enterprise Academy, Scotland and SEED Ventures has marked the beginning of a lasting relationship to support social enterprises and the social economy throughout Pakistan. SEA Pakistan will work towards catering to the local social entrepreneurs and enterprises, building links between the two countries while adopting an inclusive approach towards international network of hub partners. Through SEA Pakistan, local social entrepreneurs will be trained to facilitate programmes for their peers, bringing their insight and understanding of the challenges and opportunities Pakistan's social enterprise sector faces. A two day gathering of social entrepreneurs, members of the corporate community,
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Business

MCB Bank Posts Rs. 21.89 Billion Profits for FY2016

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MCB Bank Limited reported a Profit Before Tax (PBT) of Rs. 36.07 billion and a Profit After Tax (PAT) of Rs. 21.89 billion for the year that ended December 31st, 2016. Net markup income of the Bank was reported at Rs. 43.8 billion, down by 11.25% over last year. On the gross markup income side, the Bank reported a decrease of Rs. 12.97 billion which was mainly on account of decreased yields on advances and investments in-line with interest rate movements. On the interest expense side, the Bank registered a decrease of Rs. 7.542 billion over last year, which was
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PSO launches its “Refuel” vending machines at PSO retail outlets

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The country’s largest oil marketing company Pakistan State Oil (PSO) has recently contracted to place vending machines at its retail outlet with the brand name “Refuel”. The state of the art vending machines have been currently installed at  PSO stations in Karachi; Ideal Service Station (Shahrah-e-Faisal), AB Ghazi Service Station, near Abdullah Shah Ghazi. Owing to the awesome response from customers, the company now plans to introduce ‘Refuel’ machines at its new vision retail outlets nationwide. With the launch of “Refuel”, customers will now be able to purchase snacks and beverages such as cold drinks, energy drinks, drinking water, chips, chocolates, cookies
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HUBCO & REON Energy Inaugurate a Solar PV Solution at Civil Hospital Hub

Solar Panels at Roof Top of the Hospital Jam Ghulam Qadir Hospital at HUB Installed by REON ENERGY
REON Energy Limited, in partnership with HUB Power Company Limited (HUBCO) installed a solar solution at the Jam Ghulam Qadir Hospital in Hub, Baluchistan. The system was inaugurated today by Mr. Noor Ul Haq Baloch, Secretary of Health, Baluchistan. The emergency room caters to more than 1500 people per month, while managing more that 240 maternity cases a month. The solar solution system provides an uninterrupted energy supply to the hospital. “I would like to congratulate HUBCO and REON Energy for taking this amazing initiative which will not only reduce the financial burden on the hospital, but also benefit the general public which
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