APR

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Archive for the ‘Press Releases’ Category

Emirates airline appoints new Vice President for Pakistan

Sunday, May 15th, 2016

Karachi / Dubai, May 13, 2016 – Emirates airline has announced the appointment of Jabr Al-Azeeby as the new Vice President for its operations in Pakistan.

Previously, Mr. Al-Azeeby was Area Manager for Thailand and Indochina for Emirates airline. He began his career as Emirates Area Manager in Uganda and worked in that market for 3 years, before moving on to a new position as Country Manager for Cyprus. Mr. Al-Azeeby brings with him extensive experience in the aviation industry, which spans over eight years. He has a track record of successfully uplifting the airline’s operations in challenging markets. Jabr, who commences work in his new role this month, replaces Khalid Bardan, who has now joined Emirates’ SkyCargo team.

Emirates appoint Mr.-Jabr-Al-Azeeby-VP,Pakistan

“I’m delighted to have been appointed as the new Vice President for Pakistan and I’m looking forward to working with the local team, as well as our trade and corporate partners  in further developing the Emirates b usiness in the market,” said Mr. Al-Azeeby. “My primary focus in the Pakistani market will be to continue providing our customers with world class travel services and value for money, as we connect them to more than 150 destinations across the world.”

In another new appointment in Pakistan, Tariq Obaid will become the Regional Manager for Emirates airline’s operations in North Pakistan. Mr. Obaid started his career with the Emirates Group in 2007 as a college work placement trainee in the Flight Operations Centre. He progressed to join the Emirates Group’s commercial management program and took on various roles as Sales Manager in both Libya and the Kingdom of Saudi Arabia’s Dammam station, and Country Manager for Sudan. His previous position was as the Country Manager for Algeria.

Pakistan was the first country Emirates flew to 30 years ago. Today Pakistan has become the fourth most widely served country with 85 weekly flights to six cities including Karachi, Peshawar, Islamabad, Lahore, Sialkot and most recently Multan. Karachi was the airline’s first route in 1985 and Emirates operates 49 flights to the city each week. Flights to Peshawar were launched in 1998, and in 1999 both Lahore and Islamabad were added to the Emirates network. Flights to Sialkot began in 2013 and most recently Multan operations were commenced in 2015. The Emirates Group employs over 4,000 Pakistanis across its business divisions, including 86 Cabin Crew, 17 Pilots and a team of over 230 based in Pakistan.

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Latest Smartphones from LG Get U.S. Government Stamp of Approval for Enterprise and Military Use

Saturday, May 14th, 2016

Karachi, May 13, 2016: LG Electronics (LG) announced today that the G5 and V10 smartphones have been certified by the U.S. National Information Assurance Partnership (NIAP) for compliance in meeting international security standards in corporate environments.

NIAP administers the globally recognized Common Criteria Evaluation and Validation Scheme (CCEVS) for evaluating security conformance with the Common Criteria international standard. NIAP certification is recognized by the governments of 25 Common Criteria member countries such as Canada, France, Germany, India, Japan, South Korea and the United Kingdom (www.commoncriteriaportal.org/ccra/members).

LG’s flagship smartphones are equipped with LG’s GATE technology for enhanced platform, network, and application security that allow for secure, reliable access to enterprise data. GATE, or Guarded Access to Enterprise, is LG’s enterprise-level security platform developed in 2013 to provide a variety of security solutions such as anti-hacking and mobile device management systems for enterprise mobile devices. GATE’s layered security components help to maintain the integrity of software components, strengthening system protection and safeguarding corporate data without compromising performance.

What’s more, LG G5 and V10 also feature Google’s Android for Work which leverages the LG GATE network capabilities. Included in Android for Work is a container solution which separates and secures work apps from personal apps.

“With the growing importance of higher security in business these days, we believe a firm security platform is a must for mobile workplace devices,” said Chris Yie, vice president and head of marketing communications for LG Mobile Communications Company. “This certification is confirmation that LG smartphones are among the most secure mobile devices available today.”

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Law & Justice Commission of Pakistan (LJCP) and Pakistan Poverty Alleviation Fund (PPAF) sign MoU

Tuesday, May 24th, 2016

Islamabad, May 17 2016:Law &Justice Commission of Pakistan (LJCP) and the Pakistan Poverty Alleviation Fund (PPAF) signed a Memorandum of Understanding around reducing the Legal Exclusion of Pakistan’s poorest and the most vulnerable segments. The objectives of this collaboration are to focus on raising awareness on legal exclusion among all relevant stakeholders, as well as a programmatic focus on identifying and addressing the quality of access to justice for the poorest in the country. There will also be a focus on developing a suitable platform to collect evidence and inform policy level debate around legal access in Pakistan.

E. PPAF

 

The LJCP’s intensive focus on accessible, quality use of communication tools to provide information to Pakistan’s citizens on constitutional rights is being supplemented with a focus on research and collaboration with civil society. PPAF, with its 15 years of pro poor development and access to over 500,000 community institutions and 130 partners is uniquely positioned to provide support to LJCP in its critical work.

Secretary Law & Justice Commission, Mr. Muhammad Sarwar Khan , commented on the significance of this partnership: “Collaboration of this sort has a significant multiplier effect, enabling PPAF and LJCP to combine their respective technical resources and efforts to better understand legal exclusion and thereby how best to address the justice needs of the poorest and most vulnerable in our society. Our joint efforts will focus on raising legal awareness and empowering poor and vulnerable citizens to assert their rights and claim their entitlements so that there is a positive change in people’s lives so far as law and rights are concerned. And we will learn from each other’s experiences to make suitable policy recommendations for reforms”.

CEO PPAF Mr. Qazi Azmat Isa stressed that the MoU is groundbreaking for the people of Pakistan, with awareness and knowledge of the Constitution of Pakistan as a major objective. “With the material developed by the Law & Justice Commission, every citizen of our country will develop a better understanding of their constitutional rights. The poorest will be able to better engage institutions for their rights and responsibilities. PPAF is privileged to be a part of this crucial initiative.”

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Coca-Cola announces Rs. 10m support to Rotary Foundation for Water Filtration Plants

Tuesday, May 31st, 2016

Lahore, May 30, 2016: The Coca-Cola Company has partnered with Rotary International, Pakistan National Polio Plus Committeesince 2012with a mission to provide clean drinking water by mitigating thetransmission of water borne diseases in Pakistan. At the Rotary International Convention 2016 being held these days in Seoul, Coca-Cola Pakistan announced funding of Rs. 10 million, under the ‘New World’ program in partnership with United Nations Development Program (UNDP),for the provision offurther 7 solar water filtration plants mainly in Karachi, Sindh andNowshera in KPK, which are at high risk of communal and water borne diseases.

7 solar water filtration plants will benefit a total target population of 140,000 in the catchment areas, with each plant recharging 3,000 gallons of water twice a day per shift. Previously, the reverse osmosis plant in Malir town of Karachi installed in2014has helped in the reduction of water borne diseases by an estimated 70%.

Easier access to clean drinking water helps in improving mortality rates and living standards and it allows women to save time which was previously utilized for the collection of water from far away communities. With community-level awareness campaigns about hygiene and medical education, the medical expenses of families will also decrease due to reduction in diseases.

The partnership between Coca-Cola and Rotary is in line with the Company’s CSR strategy to enhance well-being through the provision of safe drinking water. Acknowledging this partnership at the Rotary International Convention in Seoul, Fahad Qadir, Director Public Affairs and Communications, The Coca-Cola Export Corporation, Pakistan and Afghanistan said “It was of great concern to us that Pakistan remains only one of two polio-risk countries in the world. Therefore, as a socially responsible corporate citizen, we decided to make our contribution to fight the transmission risk of water borne viruses, in partnership with Rotary Pakistan. With a deep commitment for Pakistan’s welfare, ourethos is to create shared value through sustainable development, which is reliant on the health of our nation.”

Speaking of the partnership, Aziz Memon, National Chair, Rotary Pakistan National Polio Plus, emphasized “I’m grateful to Coca-Cola Pakistan’s valor to support efforts of Rotary towards the provision of clean drinking water. A number of water borne viruses are still persistent in Karachi, Peshawar and Killa Abdullah the three known reservoirs of Pakistan. We must make sure that no child is missed and coverage is optimal. To date Pakistan has reported 10 wild polio cases as compared to 14 cases last year; this is an opportunity we cannot miss, in our struggle to provide clean drinking waterto the target areas in 2016.”

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LUMS to launch Groundbreaking Study on the Dairy Sector

Thursday, May 26th, 2016

Karachi, May 26, 2016 – The Economics Department at the Lahore University of Management Sciences (LUMS)is set to launch a comprehensive, research based economic impact study of the dairy sector entitled,Pakistan’s Dairy Sector: Lessons from the Past to Build a Resilient Dairy Industry.” Conducted by LUMS professor, Dr.Abid A.Burki and his team, this pioneering research is an evidence-based sector study in which state-of-the art measures of impact assessment have been employed on a longitudinal (panel) survey data. A key focus has been to highlight the impact of milk supply chain of UHT milk industry on productivity and welfare of smallholder dairy producers.

It is to be noted that the dairy and livestock sector contributes 49% of the value addition in the agriculture sector and about 11.4% to Pakistan’s GDP, which is higher than the contribution made by the entire crop sector (10.9%).

Commenting on his research, Dr.Burki said, “More than 40 million people are engaged in raising livestock and derive 30 to 40% of their income from this sector. Despite this reality and the huge potential which this sector has, serious attention to the sector has been lacking, resulting in its slow and haphazard development. We believe one of the major reasons for this lack of attention has been the unavailability of updated and authentic data. This study will be unique in terms of addressing prevalent issues facing the industry, and creating a better understanding of its key drivers and dynamics, with the overarching objective of knowledge-sharing amongst the dairy industry stakeholders.”

While focusing on various issues facing the sector, the study also highlights the poor standards of livestock census, reviews taxation practices, and the modern way of dairy farming to evolve the sector with contemporary needs. It makes a number of important recommendations for policy making, which if adopted, can lead the dairy sector to becoming one of the leading business sectors in Pakistan, also contributing significantly to foreign exchange earnings.

The official launch of the report is scheduled for June 1, 2016, a day also marked as the ‘World Milk Day.’ The report will be launched through an event at LUMS, to be attended by industry stakeholders from both the public and private sectors and fromthe centre and the provinces. It is also being seen as a unique opportunity for all stakeholders to meet on one platform and exchange thoughts on the study findings and on various issues pertaining to the dairy sector.

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Emirates offer Iftar service for Ramadan

Friday, May 27th, 2016

Karachi / DUBAI, May 27, 2016 – Emirates is bringing back its Iftar service for customers travelling during the holy month of Ramadan. The special boxes have been re-designed and will be available across all cabin classes on select flights including those to and from the Gulf region as well as Umrah groups travelling to Jeddah and Medina.

The Iftar boxes will allow those observing Ramadan to break their fast with a nutritious and balanced meal. The service has been a mainstay on Emirates flights for over 20 years and is available for the whole month of Ramadan expected to begin on 6 June this year.

The boxes feature a new look with a clean and modern Arabesque design inspired by the region. The Iftar service is a further commitment towards an exceptional travel experience, providing comfort and convenience to customers who are observing the holy month of Ramadan and allowing them to enjoy the world class meals the airline is known for.

This year’s Ramadan boxes will have a new menu designed by Emirates’ chefs. These menus feature a Middle Eastern flavour, while remaining distinctly global, and will be refreshed mid-Ramadan. The Iftar box includes options such as za’atar chicken with hummus, spinach fatayer, halloumi cheese and cucumber sandwiches, traditional sweets such as mammoul and dates, as well as yoghurt.

Emirates utilises a unique tool to calculate the correct timings for Imsak (the time to commence fasting) and Iftar while in-flight. It calculates the exact Ramadan timings using the aircraft’s longitude, latitude and altitude; ensuring the greatest level of accuracy possible while onboard. When the sun sets, passengers will be informed of the Iftar time by the captain. This tool was developed to supplement Emirates’ annually produced booklet on the timings for Ramadan, available on every flight.

A snack box will also be provided at boarding gates allowing customers to break their fast prior to boarding or while boarding. The snack boxes will feature pastries like cheese fatayer and Arabic sweets like baklava and will be served for flights departing close to Iftar at Emirates’ hub in Dubai International Airport Terminal 3. On certain routes, these boxes will be offered to customers prior to Imsak.

Both variations of boxes will feature a box of dates, symbolic of Ramadan. During the holy month, cold meals will be served in lieu of a hot one on all flights to Jeddah and Medina, including Umrah day flights.

Emirates’ award-winning ice system will feature popular movies such as Zinzana and Omar wa Salwa. These are in addition to 49 Arabic movies, 19 channels of Arabic TV programming, and 94 Arabic audio channels, including the Holy Quran channel.

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Emirates Group Announces Record Profits

Tuesday, May 10th, 2016

  • Group records 28th consecutive year of profit, and new record profit of AED 8.2 billion (US$ 2.2 billion);
    • Steady business growth in line with capacity increases, significant investment in the business at AED 17.3 billion (US$ 4.7 billion)
    • Declares a dividend of AED 2.5 billion (US$ 681 million) to the Investment Corporation of Dubai.
  • Emirates makes highest profit ever with AED 7.1 billion (US$ 1.9 billion)
    • Airline capacity crosses 56 billion ATKM with 29 new aircraft added to the fleet
    • Revenue decreases 4% to AED 85.0 billion (US$ 23.2 billion), after AED 6.0 billion (US$ 1.6 billion) hit due to unfavourable currency exchange
  • dnata makes highest profit ever, crossing AED 1bn (US$ 287 million) for the first time
    • Revenue of AED 10.6 billion (US$ 2.9 billion) reflects further business expansion, with international business now accounting for over 64% of revenue

Karachi / DUBAI: May 10, 2016 – The Emirates Group today announced its 28th consecutive year of profit and steady business expansion, ending the year with record profits, and in a strong position despite the global and operational challenges during this period.

During the 2015-16 financial year, both Emirates and dnata achieved new capacity and profit milestones, as the Group continued to expand its global footprint, and strengthen its business through strategic investments.

Released today in its  2015-16 Annual Report, the Emirates Group posted an AED 8.2 billion (US$ 2.2 billion) profit for the financial year ending 31 March 2016, up 50% from last year. The Group’s revenue reached AED 93 billion (US$ 25.3 billion), a decrease of 3% over last year’s results, and the Group’s cash balance increased strongly to AED 23.5 billion (US$ 6.4 billion).

His Highness (H.H.) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “Emirates and dnata delivered record profits, solid business results, and continued to grow throughout 2015-16. Against an unfavourable currency situation which eroded our revenues and profits, an uncertain global economic environment dogged by weak consumer and investor sentiment, as well as ongoing socio-political instability in many regions around the world, the Group’s performance is testament to the success of our business model and strategies.”

“Our ongoing investments to develop our people and to our enhance business performance, enable us to react with agility to the new challenges and opportunities that every year brings. In 2015-16, the Group collectively invested over AED 17.3 billion (US$ 4.7 billion) in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies, and staff initiatives. These will build on our strong foundations, extend our competitive edge, and accelerate our progress towards our long-term goals.”

The Group’s employee base across its more than 80 subsidiaries and companies increased by 13% to over 95,000-strong representing over 160 different nationalities.

“Looking at the year ahead, we expect that the low oil prices will continue to be a double-edged sword – a boon for our operating costs, but a bane for global business and consumer confidence. The strong US dollar against major currencies will remain a challenge, as will the looming threat of protectionism in some countries. However, we enter the new financial year with confidence, backed by a robust balance sheet, solid track record, diverse global portfolio, and international talent pool. We will continue to evolve and grow our business profitably, and work even harder to meet and exceed our customers’ expectations,” said Sheikh Ahmed.

In line with the overall profit, the Group declared a dividend of AED 2.5 billion (US$ 681 million) to the Investment Corporation of Dubai.

Emirates performance

Emirates’ total passenger and cargo capacity crossed the 56 billion mark, to 56.4 billion ATKMs at the end of 2015-16, cementing its position as the world’s largest international airline. The airline increased capacity during the year by 5.5 billion Available Tonne Kilometres (ATKMs), or 11% over 2014-15.

Emirates received 29 new aircraft, its highest number during a financial year, including 16 A380s, 12 Boeing 777-300ERs and one Boeing 777F, bringing its total fleet count to 251 at the end of March. At the same time nine aircraft were phased out, taking the average fleet age down to 74 months or approximately half the industry average of 140 months. The airline remains the world’s largest operator of the Boeing 777 and A380 – both aircraft being amongst the most modern and efficient wide-bodied jets in the sky today.

With the delivery of new aircraft, Emirates launched eight new passenger destinations: Bali, Bologna, Cebu, Clark, Istanbul (Sabiha Gökçen), Mashhad, Multan, Orlando; and two new additional freighter destinations: Columbus and Ciudad del Este. It also added services and capacity to 34 cities on its existing route network across Africa, Asia, Europe, the Middle East, and North America, offering customers even greater choice and connectivity.

With significant currency devaluations against the US dollar and fare adjustments following the reduction in fuel prices, Emirates revenue dropped 4% to AED 85 billion (US$ 23.2 billion).

The relentless rise of the US dollar against currencies in most of Emirates’ key markets had an AED 6.0 billion (US$ 1.6 billion) impact on airline revenue, and an AED 4.2 billion (US$ 1.1 billion) impact to the airline’s bottom line.

However, total operating costs decreased by 8% over the 2014-15 financial year. The average price of jet fuel fell during the financial year, supporting Emirates’ bottom line improvement. The airline’s fuel bill decreased by 31% over last year to AED 19.7 billion (US$ 5.4 billion). Fuel is now 26% of operating costs, compared to 35% in 2014-15, but it remained the biggest cost component for the airline.

The airline successfully managed increased competitive pressure across all markets to record a profit of AED 7.1 billion (US$ 1.9 billion), an increase of 56% over last year’s results, and a healthy profit margin of 8.4%, the strongest margin since 2010-11.

Carrying a record 51.9 million passengers (up 8%), Emirates crossed the 50 million passenger milestone, and achieved a Passenger Seat Factor of 76.5%. The decline in passenger seat factor compared to last year’s 79.6%, is relative to the strong 13% increase in seat capacity by Available Seat Kilometres (ASKMs), and also in part due to lingering economic uncertainty and strong competition in many markets.

Overall passenger traffic growth continues to demonstrate the consumer desire to fly on Emirates’ state-of-the-art aircraft, and via efficient routings through its Dubai hub. Premium and overall seat factor for Emirates’ flagship A380 aircraft outperformed the network, underscoring the popularity of Emirates’ premium and A380 product amongst passengers. At 31 March 2016, Emirates had 75 A380 aircraft in its fleet, serving one out of every four destinations on its passenger network.

Under pressure from the weakening of all major currencies against the USD, passenger yield dropped to 26.7 fils (7.3 US cents) per Revenue Passenger Kilometre (RPKM).

To fund its fleet growth, Emirates raised a record of AED 26.9 billion (US$ 7.3 billion), using a variety of financing structures.

Financing highlights include Emirates entering into a unique hybrid operating lease structure put together by combining German banks and institutional investors with Islamic debt in Murahaba format to fund an A380 aircraft.

In Asia, Emirates continued to tap on the Japanese market for the Japanese Operating Lease (JOL) structure, and Japanese Operating Lease with a Call Option (JOLCO) on  A380 and Boeing 777-300ER aircraft delivered during the year. Emirates also closed the first ever operating lease on an A380 financed entirely by the Korean institutional market through private placements with a group of non-bank financial institutions.

These deals align with Emirates’ strategy to seek diverse financing sources, and underscore its sound financials and the strong investor confidence in the airline’s business model.

Emirates closed the financial year with a healthy and new record of AED 14.1 billion (US$ 3.8 billion) cash flow from operating activities.

Revenue generated from across Emirates’ six regions continues to be well balanced, with no region contributing more than 30% of overall revenues. Europe is the highest revenue contributing region with AED 24.0 billion (US$ 6.5 billion), down 5% from 2014-15. East Asia and Australasia follows closely with AED 22.4 billion (US$ 6.1 billion), down 9%. The Americas region recorded revenue growth at AED 12.0 billion (US$ 3.3 billion), up 9%. Africa and Gulf and Middle East revenue decreased each by 3% to AED 9.1 billion (US$ 2.5 billion) and AED 8.4 billion (US$ 2.3 billion) respectively; and West Asia and Indian Ocean revenue decreased by 4% to AED 7.6 billion (US$ 2.1 billion).

In line with its customer-focused proposition, Emirates invested over AED 80 million (US$ 21.9 million) last year to install and operate inflight connectivity across its fleet, which is now 70% Wi-Fi enabled. The airline also launched revamped amenity kits for First and Business class customers, a new range of children’s toys and activity packs onboard, unveiled an enhanced fully-flat Business class seat for its 777-300ER fleet, and launched its two-class configured A380 featuring the largest personal inflight entertainment screens in Economy Class. Emirates also opened new dedicated airport lounges in Tokyo Narita and Cape Town, taking the number of dedicated Emirates Lounges across the world to 39, having invested more than US$ 352 million in its lounge programme since inception.

For 2016-17, Emirates has announced new routes to Yinchuan and Zhengzhou in China, Yangon in Myanmar and Hanoi in Vietnam, aside from capacity upgrades to existing destinations.

Emirates SkyCargo continues to play an integral role in the company’s expanding operations, contributing 14% of the airline’s total transport revenue.

Emirates’ cargo division reported a revenue of AED 11.1 billion (US$ 3.0 billion), a decline of 9% over last year, while tonnage increased by 6% to reach 2.5 million tonnes in an airfreight market that remained challenging with fast-changing demand patterns. This year, freight yield per Freight Tonne Kilometre (FTKM) decreased sharply by 16%, and was also impacted by the weakening of major currencies.

In addition to belly-hold capacity to Emirates’ new passenger destinations, Emirates SkyCargo increased freighter operations to Mexico City, and launched new freighter services to Ho Chi Minh City (Vietnam), Ahmedabad (India), Columbus (USA), Algiers (Algeria), and Ciudad Del Este (Paraguay).

During 2015-16, Emirates SkyCargo officially inaugurated its purpose-built cargo terminal for freighter operations at Al Maktoum International airport (DWC), and received delivery of a Boeing 777F, rounding off its total freighter fleet to 15 aircraft: 13 Boeing 777Fs, and two Boeing 747-400Fs.

Emirates’ hotels recorded revenue of AED 700 million (US$ 191 million), an increase of 1% over last year.

dnata performance

In its 57 years of operation, 2015-16 has been dnata’s most profitable yet, crossing AED 1 billion (US$ 287 million) profit for the first time. Building on its strong results in the previous year, dnata’s revenue grew to AED 10.6 billion (US$ 2.9 billion). dnata’s international business now accounts for more than 64% of its revenue.

This substantial revenue increase of 16% was achieved through organic growth, and bolstered by the first full year of Stella Group operations which dnata Travel acquired in October 2014 of the previous financial year, and airport operations in Australia which dnata fully acquired from its 50% joint venture partner Toll in March 2015.

Building on last year’s record levels of investment, dnata continued to lay the foundations for future growth by investing AED 585 million (US$ 159 million) into developing its people, facilities, technology and new acquisitions.

Highlights during the 2015-16 financial year include the acquisition of new international businesses: Aviapartner’s cargo business at Amsterdam Airport Schiphol; Ground Handling SPA in two airports in Milan; and RM Ground Services in Brazil, extending dnata’s global footprint to the Americas for the first time.

Revenue from dnata’s UAE Airport Operations, including aircraft and cargo handling increased by 13% to reach AED 2.9 billion (US$ 777 million). The strong revenue rise accounts for the effect of the 80-day runway closure at Dubai International airport (DXB) which dampened revenue growth in the previous year.

In line with revenue growth, the number of aircraft handled by dnata in the UAE increased 12% to 211,000, whereas Cargo handling dropped by 6% to 689,000 tonnes reflecting the cargo industry’s ongoing malaise. Dubai World Central now accounts for 24% of dnata’s cargo handling activities in Dubai. During the year, dnata began operations at DXB’s new concourse D, with 3,000 staff trained to help customers transition to the new facilities.

dnata’s International Airport Operations division grew revenue substantially by 32% to AED 2.1 billion (US$ 571 million), on account of increasing business volumes and newly acquired businesses in the Netherlands and Brazil. The number of aircraft handled increased significantly by 63% to 178,000, and Cargo noted a substantial growth of 46% to 1.4 million tonnes of handled goods. These results speak to the benefits reaped from the previous years’ investments in new international cargo handling facilities particularly in the UK.

dnata’s Catering business accounted for AED 1.9 billion (US$ 514 million) of its total revenue, down 7% and mainly on account of a significant weakening of major currencies against the US dollar. The inflight catering business uplifted more than 57 million meals during the year, a marginal decline of 1% on account of lower volumes in Italy.

Revenue from dnata’s Travel Services division has seen a strong rise of 34% to reach AED 3.3 billion (US$ 901 million) and it now represents the largest business segment in dnata by revenue contribution. This is mainly attributed to business growth in the UK through the full year impact of Stella Group acquired October 2014, and the integration of the Group’s Destination & Leisure Management activities in Dubai, and travel distribution unit Emquest. The underlying total transaction value (TTV) of travel services sold substantially increased by 20% to AED 11.7 billion (US$ 3.2 billion).

In 2015-16, dnata’s operating costs increased accordingly by 17% to AED 9.6 billion (US$ 2.6 billion), reflecting the impact of integrating the newly acquired companies mainly across its international airport operations and travel businesses.

dnata’s cash balance is at a record high of AED 3.5 billion (US$ 944 million), having significantly grown over last year with its new acquisitions. The business delivered an AED 1.4 billion (US$ 379 million) cash flow from operating activities in 2015-16, which is an increase of 31% from last year and also a new company record.

dnata’s employee strength increased to over 34,000, a 24% growth which includes employees from its newly acquired companies. With the business’ growing international footprint, dnata’s staff ratio based in UAE has dropped to 48%.

The full 2015-16 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at: www.theemiratesgroup.com/annualreport

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“HBL and MasterCard launch HBL Nisa Debit MasterCard”

Wednesday, May 11th, 2016

Karachi, May 11, 2016:  HBL recently hosted MasterCard at an event to commemorate the launch of HBL Nisa Debit MasterCard at a ceremony held at HBL Plaza, Karachi.  The HBL Nisa Debit MasterCard serves as an extension of the banking platform launched by HBL, designed exclusively for the women of Pakistan.

With one of the largest shares of female customers in Pakistan, HBL is committed to bring millions of women into the banking fold with HBL Nisa, by providing them tailor-made banking products and services.

E. HBL & Mastercard

Leading the event, HBL was represented by Ms. Sima Kamil, Head of Branch Banking, Mr. Naveed Asghar, Chief Marketing Officer, Mr. Danysh Hashmi, Head of Retail Product Group and Ms. Samira Omer, Head of Women Market Program.

Also present at the event were senior MasterCard officials, including Mr. Aurangzaib Khan, Vice President, Country Manager, Pakistan & Afghanistan, Mrs. Elcin Yanik, Director, Group Head, Market Development, Middle East & Africa and Mr. Nabeel Ahmad, Vice President, Business Development for Pakistan & Afghanistan Markets.

Speaking on the event, Ms. Sima Kamil said, “The launch of HBL Nisa demonstratesour continued commitment towards financial inclusion of this highly under-banked segment. HBL aims to be the bank of choice for women across the nation and HBL Nisa Debit MasterCard is a fitting addition to our diverse range of products.”

Mr. Aurangzaib Khan, Vice President, Country Manager, Pakistan & Afghanistan, MasterCard, said: “Driving the financial inclusion of women around the world is one of MasterCard’s top priorities and the launch of exclusive products such as the HBL Nisa Debit MasterCard, marks another step forward in our journey to achieving this ambitious vision. We are pleased to collaborate with HBL to introduce this card featuring financial services and benefits that cater specifically to the needs of the Pakistani women, led by a shared vision of financial empowerment for this important segment.”

Mrs. Elcin Yanik, Director, Group Head, Market Development, Middle East & Africa, MasterCard, said: “Pakistan is an extremely significant market for MasterCard and we are delighted to expand the scope of our services in the country with this collaboration with HBL that will help drive large scale financial inclusion for women and in turn provide them with the many opportunities that come with greater financial freedom and security.”

HBL is the largest bank in Pakistan with over 1,600 branches, 1,900 ATMs, and

customer base exceeding eight and a half million.  HBL has presence in over 25

countries across four continents.”

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Pakistan’s first wealth management conference looks at the future outlook of the industry

Wednesday, May 11th, 2016

Karachi, May 11, 2016: Pakistan’s first wealth management conference took place today at a local hotel in Karachi. This conferenceis being hosted by HMPK Solutions in collaboration with Jubilee Life Insurance attracting delegates and speakersfrom across all organizations from the financial sector. The conference aims to look at the future outlook of the financial industry especially with matter related to wealth management.

The theme of the conference is ‘Opportunities & Challenges – The Way Forward’ covering a broad horizon on the concept of wealth management, the opportunities it presents and the challenges associated in its implementation. Some of the distinguished speakers present at the conference includes a combination of international and national players from the industry such as Mr. Graham Hughes, Associate Director Compass Wealth Management; Mr. Mir Mohammad Ali Khan, Chairman Mind and Markets Inc.; Ms. Nur Ain Ramli, Head of Wealth Management of Bank Muamalat, Malaysia to name a few.

Javed Ahmed, Managing Director and Chief Executive Officer of Jubilee Life Insurance Company Limited speaking on this occasion said, “This is going to be a major and definitive step forward in spreading awareness about wealth management in Pakistan. It also gives a huge opportunity to all the players in the market to accelerate their endeavors and reach in providing financial services to the Pakistani population. The diverse sessions will also help all delegates learn from each other, and from experts in this field, who are coming from across the region and other parts of the world.”

Jubilee Insurance is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.

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SI Global embarks on IT expansion in Pakistan through Foreign Investment

Friday, May 13th, 2016

Karachi, May 12, 2016: SI Global Solutions has recently announced its mission for the expansion of IT business in Pakistan through roping in foreign investment. The first phase of this agreement has been signed with SSC Global Ltd. and Monolith Risk for the allocation of funds for medium term projects, amounting to Rs. 1.15 billion.

Despite the challenges faced in Pakistan, SI Global has summoned these global experts concerning the sustainability and growth of the IT industry with respect to its potential and foreseeable contribution in the global market. The investment will be used as a thriving ground for the development of mobile applications, business consultation, and system integration across Pakistan’s IT industry as this will also assist in nurturing fresh graduates and businesses alike.

“One of the key features of determining a country’s progress is its rate of technological advance and its contribution in the global business market,” said Noman Said, Chief Executive Officer of SI Global, “quite a number of brilliant business ideas succumb to being divested because of a lack of substantiated finances. This is why, through these investments, we are ensuring that business opportunities are not left untapped. There is no dearth of talent in Pakistan and this collaboration will help facilitate it.”

Expressing his support towards this alliance and the teaming agreement with SI Global, Iain Stewart, Director SCC Global Ltd. said, “I believe this will benefit us and SI Global, and together will allow us to bring our expertise here in Pakistan, thus, delivering an excellent product. I look forward to building a long and prosperous relationship.”

Iain Stewart, currently working for a UK based consultancy has a vast experience of building security response systems while Carel Fredrick, Co-founder of Monolith Risk has in depth knowledge in the field of architectural design. Their expertise will bring innovative solutions towards the development of Pakistani infrastructure and crisis management.

With the recent upward growth trend observed in various industries in Pakistan, this development and investment in the IT sector specifically, will help Pakistan in reaching a global standing.

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