APR

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Archive for the ‘Press Releases’ Category

‘Sooper’ creates national history by reaching Rs. 11 billion sales mark

Wednesday, October 1st, 2014

Karachi, October 1, 2014: Peek Freans Sooper, the number one selling biscuit brand of Pakistan, creates history by becoming the first biscuit brand with sales over the unprecedented Rs. 11 billion mark. The coveted milestone is another feather to the hat of the brand that not only has the biggest market share in the plain sweet segment at 37 percent, according to the AC Nielsen retail audit, but it is also the highest contributing brand of English Biscuit Manufacturers (Pvt) Limited (EBM), the country’s leading biscuit manufacturer.

Sooper Press Ad-01

Commenting on achieving this milestone, Zulfiqar Ali Ansari, Head of Marketing at EBM said, “It is a moment of pride for EBM to be the parent company of Pakistan’s number one selling biscuit. The secret of Sooper’s success is the continuous innovation and adherence to strict quality standards maintained at EBM. Almost every company has tried replicating Sooper to climb on its success bandwagon, but has been unable to match the same taste and quality. At present, Sooper is exported to 13 countries and we plan on increasing that number soon.”

Launched in 1996, Sooper was the first Egg & Milk cookie, and since then there has been no turning back. Developed after intensive research, it is a plain sweet biscuit with a unique texture that delivers a melt-in-the-mouth feeling. In 2013, a new flavor, Peek Freans Sooper Elaichi (cardamon) was introduced. This too was very well received by consumers and since its launch, the new flavor has contributed significantly towards the Sooper portfolio’s overall growth.

Peek Freans Sooper enjoys a universal taste appeal and is consumed by all cross-sections of society. Almost 20 million Sooper cookies are consumed every day and 430 million family packs were sold last year. Sooper was also elected the 2nd most favourite brand during the Brand Elections conducted by MEMRB Research agency across Pakistan.

English Biscuit Manufacturers (Private) Limited, the maker of Peek Freans biscuits, was established in 1967 as the first manufacturer of wholesome, hygienic packaged biscuits in Pakistan. For over 45 years, EBM has been a symbol of trust and confidence for consumers, making it the leading biscuit manufacturer of Pakistan. EBM is the first biscuit company in Pakistan to have achieved ISO 14001, ISO 9001 and HACCP certifications. The Peek Freans brand also enjoys the internationally acclaimed Superbrands status.

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Byco Expands Footprint

Friday, October 24th, 2014

Karachi, October 24, 2014:In order to streamline its upcountry supply chain, Byco has announced a comprehensive expansion programwhere it will set up refined petroleum products storage facilities at strategic locations, in the process generating jobs and ensuring confidence in fuel availability to the energy starved nation. Built in only 3 months and 20 days, the first of these storage sites has been completed at MehmoodKot, District Muzaffargarh. MehmoodKot Terminal is spread over an area of 12 acreswith a current storage capacity of 4,500 metric tonsand anticipated expansion to 35,000 M.T.

Speaking at the occasion, Imran Farookhi, Chief Executive Officer, Byco Terminals Pakistan Limited said, “These initiatives are in line with our strategy of reducing lead time.The storage facilities will readily help us facilitate our OMC customers. At Byco we are continuously working on improving our processes that not only help us streamline our supply chain but also leads to effective cost management.”

Overall, after the installation of the storage terminals, Byco’s refined petroleum products storage capacity will increase by 13,500 M.T. to 150,000 M.T. Work will soon start on the other 2 storage sites; Machike, District Sheikhupura and at Shikarpur, District Shikarpur.

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Visa Launches Innovative Token Service

Thursday, October 2nd, 2014

Creates secure environment to help accelerate innovation in ecommerce and mobile payments

Karachi October 02, 2014 – Visa Inc. (NYSE:V), the global leader in payments, today announced the launch of Visa Token Service – an innovative technology that provides a secure environment to help drive innovation in online and mobile commerce.

Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account number or “token”. Because “tokens” do not carry a consumer’s payment account details, such as the 16-digit account number, they can be safely stored by online merchants or on mobile devices to facilitate ecommerce and mobile payments.

“When you make the payment environment safer, you open up a world of possibilities where commerce can take place in different forms and consumers can shop anywhere, on any device, with confidence,” said Charlie Scharf, Chief Executive Officer, Visa Inc. “Visa Token Service is yet another example of where we have opened up our network to create meaningful solutions in the form of new standards, tools and services that can enable digital payment experiences that are both engaging and secure.”

Visa Token Service will be available to Visa Inc. issuing financial institutions globally, starting with U.S. financial institutions next month, and followed by a phased roll-out overseas beginning in 2015. The technology has been designed to support payments with mobile devices using all major mobile platforms.

“Over the past year, Visa has led the global payments industry in the development of new payments standards and services designed to protect consumers’ account information when shopping online and with mobile devices,” said Ryan McInerney, President, Visa Inc. “More than 750 staff from across the Visa organization globally were involved in the effort, working closely with our initial launch partners – financial institutions, merchants and processors – to ensure the ecosystem was ready. Today, we are making these services available to our clients, and believe it will help transform connected devices and wearables into secure payment vehicles.”

Technology That Drives Industry Innovation and Protects Consumers

Visa Token Service provides a seamless experience for consumers making purchases online and with mobile devices, while preserving the integrity of the Visa payment transaction. Key benefits of Visa

Token Service include:

  • Consumer Protection: Tokens replace the 16-digit account information found on plastic cards with a numeric substitute. This new identifier is called a digital account number and it can facilitate payment transactions without sharing sensitive personal account information.
  • Customized Usage: Tokens can be limited to specific merchants, mobile devices or types of purchases – providing another form of innovation and security
  • Convenience and Cost Effectiveness: Tokens linked to lost or stolen mobile devices can be instantly reissued without changing account numbers or reissuing plastic cards.
  • Easy Processing: Tokens are based on existing International Organization for Standardization (ISO) standards and can therefore be processed and routed by merchants, acquirers and issuers like traditional card payments.

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Governor inaugurates CCBPL water filtration plant

Thursday, October 23rd, 2014

Karachi, October 23, 2014: Governor Punjab Muhammad Sarwar, inaugurated a water filtration plant at Saint John’s Boys High School, Youhanabad, which has been set up by Coca-Cola Beverages Pakistan Limited (CCBPL) as part of its social responsibility program. The plant capacity is 2000 liters per hour and can serve over 20,000 people every day. CCBPL has earlier installed a water filtration plant in Malir, Karachi, in partnership with Rotary International Pakistan.

Speaking at the occasion, Director Public Affairs and Communication at CCBPL, Zafar Abbas Jafri said, “In our pursuit of protecting the water resources that sustain communities, this water filtration plant has been built with the humble contribution of CCBPL in partnership with The Clean Water Trust to provide clean and healthy drinking water to the community of Youhanabad.” Keeping alive the mission of CCBPL, more water filtration plants will be installed in other under-developed parts of the country on a continuous basis..

CCBPL places the issue of water usage, which is fundamental for the business, as the heart of the environment policy; Water is one of the most essential resources of life and also the main ingredient of beverages. In order to establish a water-sustainable operation this is key to CCBPL business success and to the welfare of the communities.

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Ufone’s Kismat ki Dastak Concludes Rs 2.5 million grand prize won

Monday, October 27th, 2014

Karachi, October 27, 2014: Ufone, one of Pakistan’s leading telecom operators, has over the years been introducing some exceptional offers specifically designed to reward the loyalty and support of its customers.

Kismat Ki Dastak-2, introduced on 2nd June, 2014 is a continuation of the Kismat Ki Dastak-1 (KKD-1) campaign which was launchedback in 2010 and reintroduced again this year on its huge success and popular demand. It is an SMS based service in which prizes were given based on points and draws.

Ms. Khalida Asif from Lahore won the first grand prize of this campaign, amounting Rs 25 lacs. Besides the grand prize there were 119 regular prize winners, whereas there was a prize of Rs 1 lac for daily top scorer and Rs 2 and Rs 10 lacs for winners via weekly and monthly draws respectively.

Speaking about the success of this offer, Sherjeel Bin Hassan, Head of VAS at Ufone said, “I, on behalf of Ufone personally felicitate the winner on this accomplishment. This firmly cements the image of Ufone as an operator that knows how to reward its loyal customers.”

Ms Khalida Asif, the grand prize winner from Lahore, who was joyous upon her win said, “I thank Allah for bestowing upon me this win and also to Ufone for making this happen, this has been a life changing event for me.”

30 extra prizes including Smartphones, Led Tv, 70cc motorcycleetc were also given to frequent users via different campaigns.

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Emirates Welcomes its 100th Boeing 777-300ER

Wednesday, October 29th, 2014

DUBAI, U.A.E – 29th OCTOBER 2014 – Emirates celebrated another milestone on Wednesday with the delivery of the airline’s 100th Boeing 777-300ER, the world’s largest, long-range twin engine commercial aircraft.

The Boeing 777-300ER forms the backbone of the Emirates fleet with the aircraft type currently operating to 77 destinations on the airline’s global network.

Emirates Pic

Delivery of Emirates’ first Boeing 777-300ER took place in March 2005 and with a further 52 aircraft on order, the airline is the world’s largest operator of this aircraft type – in fact one in every five 777-300ERs flying today is in Emirates’ livery.
It takes 47 days to build a 777-300ER and each aircraft is made of three million parts. If you took all of the wiring contained within Emirates’ 100 777-300ERs and placed it end-to-end it would stretch from Dubai to New York and back again.

Sir Tim Clark, President of Emirates Airline said, “The Boeing 777-300ER is one of the most remarkable aircraft ever built, and its combination of efficiency, range and payload is second to none. Our customers are equally excited by the aircraft and its on-board product, and to date over 108 million passengers have flown on an Emirates Boeing 777-300ER.

“We have 204 more Boeing 777s on order, which supports over 400,000 jobs in the United States of America, including those from various suppliers such as General Electric which provides the GE90 engines that power all of our 777-300ERs,” added Sir Tim.

“We are proud of our long-term relationship with Emirates and for the confidence they have in Boeing’s products and services beginning with the 777 and continuing with the 777X in the years to come,” said Ray Conner, president and CEO, Boeing Commercial Airplanes. “The operating economics and long-range capability of the 777-300ER have played a prominent role in the success of Emirates’ business strategy.”

The range of the Boeing 777-300ER is 14,490 kilometres, and Emirates’ longest flight with this aircraft currently operates between Dubai and Houston which is a total distance of 13,120 kilometres.

The Boeing 777 is manufactured in Everett, Washington. The Everett plant is so large that it requires its own fire department, security force, fully equipped medical clinic, electrical substations and water-treatment plant. The site’s main assembly building, which the Guinness Book of World Records acknowledges as the largest building in the world by volume, its footprint covers 98.3 acres (39.9 hectares)

Timeline of the Emirates Boeing 777-300ER
16th June 2003: Emirates announced an operating lease order for 26 Boeing 777-300ERs at the 2003 Paris Air Show, worth $5.6 billion.

20th July 2004: Emirates ordered 4 Boeing 777-300ERs with 9 options at the 2004 Farnborough Air Show, worth $2.96 billion.
26th March 2005: Emirates receives its first Boeing 777-300ER.

20th November 2005: At the Dubai 2005 – 9th International Aerospace Exhibition, Emirates announced an order for 24 Boeing 777-300ERs. In all, Emirates ordered 42 Boeing 777s in a deal worth $9.7 billion, the largest Boeing 777 order then in history.

11th November 2007: At the 2007 Dubai Air Show, Emirates ordered 12 Boeing 777-300ERs, worth $3.2 billion.

In 2009, Emirates became the world’s largest operator of the Boeing 777 with the delivery of its 78th B777.

19th July 2010: Emirates ordered another 30 Boeing 777-300ERs at the 2010 Farnborough Air Show, worth $9.1 billion.

13th November 2011: At the 2011 Dubai Air Show, a firm order was placed for 50 Boeing 777-300ERs with options for another 20.
The deal was worth $18 billion, the largest commercial order by value in Boeing’s history.

3rd March 2012: Emirates received the 1000th Boeing 777 which was a 777-300ER variant.

17th November 2013: In the 2013 Dubai Air Show , Emirates made aviation history with a record-breaking order of 150 Boeing 777X aircraft.

29th July 2014: Boeing delivers its 500th 777-300ER to Emirates. Emirates is the only airline in the world to operate all 6 variants of the 777 family.

29th October 2014: Emirates receives its 100th Boeing 777-300ER. Emirates operates one out of every five Boeing 777-300ERs in the world.

Emirates Destinations launched using Boeing 777-300ER are:
Adelaide, Barcelona, Buenos Aires, Geneva, Milan-New York JFK, Oslo, Rio De Janeiro, Seattle, Stockholm, Taipei and Tokyo (Narita)

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Record smartphone shipments boosts LG Electronics quarterly earnings

Friday, October 31st, 2014

Companywide Operating Profit Doubles as Mobile Business Revenues Surge 39 Percent with Nearly 17 Million Smartphones Sold

Karachi, Oct. 31, 2014 — LG Electronics (LG) announced unaudited third quarter consolidated revenues of KRW 14.92 trillion (USD 14.54 billion), an increase of 7.4 percent year-over-year, and operating profit of KRW 461.3 billion (USD 449.61 million), more than double the figure from the same period a year ago. LG’s earnings reflected strong performance from its mobile business which saw record smartphone sales in the third quarter with sales of 16.8 million units.

The LG Home Entertainment Company reported third-quarter revenues of KRW 4.71 trillion (USD 4.59 billion), a slight decline of 3 percent from the same period last year. Operating profit of KRW 130.5 billion (USD 127.19 million) increased 5 percent from the same quarter last year due to better product mix. Sales of LCD TVs increased year-over-year in regions such as North America, Europe, Asia and the Middle East. LG expects sales of 4K Ultra HD TVs and commercial digital signage products to grow, while market demand for monitors and AV products is expected to slow.

The LG Mobile Communications Company shipped a record-breaking 16.8 million smartphones in the third quarter, an increase of 39 percent year-on-year and 16 percent more units than the previous quarter. Sales of KRW 4.25 trillion (USD 4.14 billion) and operating income of KRW 167.4 billion (USD 163.16 million) were the highest in the company’s history since the third quarter of 2009. Building on its momentum and two consecutive profitable quarters, LG expects to strengthen its positioning in the smartphone market with its G Series and L SeriesIII models despite the landscape becoming more competitive.

The LG Home Appliance Company reported revenues of KRW 2.91 trillion (USD 2.84 billion), a slight decrease from the same period the year before, despite improved sales in Korea, Europe and developing markets such as the Middle East and South East Asia. Greater competition in North America and unfavorable foreign currency exchange rates resulted in a lower third–quarter operating profit of KRW 51.8 billion (USD 50.49 million). LG expects profitability to increase in the fourth quarter with an expanded home appliance product portfolio and improved cost structure.

The LG Air Conditioning & Energy Solution Company reported revenues of KRW 925.6 billion (USD 902.14 million), a 5 percent decline from a year ago. An operating loss of KRW 2.5 billion (USD 2.44 million) was primarily due to weak demand in residential air conditioners in Korea related to weather conditions, which offset steady growth in the Middle East and Latin America. LG expects overseas sales to improve with more customized and higher energy efficient systems while it targets the growing construction and civilian industries in Korea with its commercial products.

2014 3Q Exchange Rates Explained

LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2014. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,026 per USD (2014 3Q).

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