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TMCNet:  UIC earns Rs 250m profit

[May 03, 2014]

UIC earns Rs 250m profit

(Nation (Pakistan) Via Acquire Media NewsEdge) The 54th Annual General Meeting (AGM) of the United Insurance Company (UIC) was held on Tuesday.

Speaking at the AGM, Chairman UIC Khawas Khan Niazi said that the company has earned Rs 250 million as profit while conducting annual business of Rs 1720 million in 2013.

In a statement issued here Tuesday, he declared 31 per cent bonus shares to the shareholders and said that authorized capital has been enhanced up to Rs 2.00 billion and paid up capital to Rs 920 million.

Niazi said that the company is progressing well due to the proper leadership and dedication of the entire staff.

He highlighted the significant progress that has been made, under the guidance of Board’s having right mix of relevant experience and qualifications to continue executing on strategic plans. At the occasion, Group Chairman Mian Shahid shed light on the future plans of the company and informed shareholders about Islamic insurance and some other products which would be introduced in the market soon.


KFC opens flagship store in Pakistan KARACHI (PR): KFC Pakistan reopened its flagship store on 26th Street, Phase 5 DHA. The announcement was made amidst a grand launch ceremony at the outlet, attended by media, senior representatives from the Franchisor, KFC MENAPak Regional Office, including General Manager, Mr. Nasir Zaman, Chief Marketing Officer, Ms. Samantha Redman and Chief Finance Officer, Mr. Everett Fieldgate and senior management from the Franchisee in Pakistan.

The outlet underwent a major renovation to accommodate the consumers who frequent the famous fast food chain which is known for its in store prepared products including Zingers, Crispy Chicken and other delicious meals.

Mr. Nigel Belton, CEO of KFC Pakistan, was extremely pleased at the turnout and said that such events ensure the brand name is alive in the minds of people. The launch of the flagship store will encourage people to come and experience the new ambiance and improved service plus the mouth watering products. He also said that the management plans to re image all existing restaurants within the coming 2 years.

”An ideal family outing revolves around experience, food and service and we want to embed this in the minds of people who wish to enjoy an outing in our restaurants with loved ones,“ said Mr. Nigel Belton Consumers were served piping hot meals and enjoyed a photography session, where the guests encouraged the KFC management to continue their excellent service and hospitality.

Governor Punjab visits KASB Bank KARACHI (pr): Chairman KASB Group Nasir Ali Shah Bukhari hosted a lunch in honour of Punjab Governor Chaudhry Muhammad Sarwar at KASB Bank Khayaban-e-Shahbaz branch Karachi.

On the occasion Governor Punjab appreciated the services rendered by the Bank and acknowledged the efforts of KASB Bank in the issuance of $ 2 billion Eurobond. Punjab governor also emphasized on the support of agriculture and energy sector by banking industry. Matters of mutual interest and betterment of the economy of Pakistan were also discussed during the meeting.

Bahria relinquishes flyover and two underpass KARACHI (PR): Bahria Town has released a statement that said they have decided to cancel the 2 underpasses and one flyover projects in Clifton. Bahria Town was constructing these public infrastructure projects with a private investment of Rs 1.8 billion. The project from its very onset faced unjust opposition and political animosity. Unfortunately none of these forces in their opposition thought of the benefits of this for the Karachiites.

A spokesman of Bahria Town said that they had decided and were determined to finish this project in the face of all odds but the recent decision on DHA filed petition to stop works on this public project immediately has led it to believe that any project for the public betterment cannot be allowed to be completed in this country. During the last 45 days of the project we have repeatedly been taken to court and multiple stay orders issued on this project.

So Bahria Town has decided to stop the works immediately and permanently; when 60pc of the work on the project had already been done. They apologised to the locals that despite their encouragement and its promise to deliver this project, they have stopped the works. According to the statement now even after the court decision to start the work, Bahria Town will not commence the work again. Spokesman said that now the residents facing any difficulty due to the project should contact the local and provincial governments, DHA or the respectable courts.

Viper 2 in 1 Windows Tablet launched LAHORE (PR): Continuing in its drive to empower the education sector at school level, Viper Technology has achieved yet another milestone in creating and enabling environment for young learners. Beginning a smart new wave and making education all the more a ”touch, feel and learn“ experience, Viper has introduced new education-centered viper 2 in 1 windows tablet with bundled applications including Kno Textbooks, and Intellicense’s Camera App that works with a snap-on magnification lens.

Designed specifically for education, Viper Education 2 in 1 engages students in 21st century learning. It is a tablet when students want mobility for anytime, anywhere learning, and a laptop when students need to create multimedia reports and presentations.

Viper Education 2 in 1 highlights include: • A tablet and laptop in a single device designed with students in mind.

• Intel® Baytrail Solution; runs Windows 8.1.

• Reversible docking to give students flexibility to collaborate and create content.

• Rugged, durable design to support anytime, anywhere learning, with 70 cm drop-resistance on concrete and water and dust resistance meeting IP5 standard.

• Snap-on magnification lens supports inquiry-based learning.

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