Tag Archives: Summit

Summit Bank co-opts 7 Mybank directors

KARACHI – Summit Bank Limited (SBL), which has acquired 59.34 percent of the total issued and paid-up capital of Mybank Limited (MBL), has co-opted at least seven new directors at the board of the MBL. The merger was finalised at the start of this year, in January, when shareholders of the two banks had given a green signal to their respective managements on the proposed amalgamation.
The SBL then acquired up to 314.701 million ordinary shares of the MBL at a rate of Rs 8.0 per

JI want OIC summit on desecration of Quran

ISLAMABAD – Jamaat-e-Islami (JI) chief Syed Munawar Hassan on Sunday asked the Organisation of the Islamic Conference (OIC) to convene a summit on the issue of desecration of Holy Quran and Namoos-e-Risalat in the backdrop of incident of burning a copy of Holy Quran by a US pastor.
Addressing a rally at the Blue Area in Islamabad, the JI chief also urged the government to convene an All Parties Conference on the issue. He condemned in the strongest term the incident of burning

Thousands in austerity protest outside EU summit

BRUSSELS – Thousands of marchers converged on Thursday on the venue for a summit of European Union leaders, protesting against austerity measures being introduced throughout the bloc. The demonstrators responded to union calls to challenge leaders’ moves to commit governments to a new ‘Euro Pact’ to be announced that seeks to moderate wages in a bid to make Europe’s economy more competitive against global rivals. The summit, starting 1600 GMT, gathers the EU’s 27 heads of state and

Portugal government may collapse before EU summit

LISBON – Portugal’s parliament is expected to reject government austerity measures on Wednesday, setting the stage for the possible collapse of the minority Socialist administration a day before a European summit. Prime Minister Jose Socrates has said he will resign if the plan is defeated. He has said its rejection would force the debt-laden country to follow Greece and Ireland and seek an international bailout, which he opposes. All opposition parties have proposed resolutions

Iraq to delay Arab League summit

BAGHDAD – Iraq has agreed to postpone an Arab League summit scheduled for March 29 in Baghdad at the request of Arab foreign ministers because of turmoil in some countries in the region, a government official said on Thursday. Countries in the Middle East and north Africa have been rocked by protests against political repression and economic hardship which resulted in the ousting of long-serving rulers in Tunisia and Egypt. “It has been agreed to postpone holding the Arab summit for a

Arab League sees grave situation, wants summit

CAIRO – The Arab League said on Saturday it was important that a March summit goes ahead in Baghdad due to what it described as “the grave, fateful developments” in the Arab world. Libya, which holds the rotating presidency of the Arab leaders’ summit, said this week that the Baghdad meeting would be postponed because of the situation in the region, where protests are challenging leaders from Bahrain to Algeria.
The presidents of Egypt and Tunisia have been toppled by mass

Summit Bank Limited inks deal with The Royal Rodale Club

KARACHI – Summit Bank Limited (formerly Arif Habib Bank Limited) has entered into an agreement with ABB Recreations Pvt Limited, owners and operators of The Royal Rodale Club, to offer its club membership to potential customers through a convenient and affordable financing plan.
A key feature of the financing plan is “zero percent mark-up” which will enable potential customers to get the club membership through staggered membership fee payment without any additional cost. Summit

Summit Bank formally launched

KARACHI – The re-launch of Summit Bank, formerly known as Arif Habib Bank, has been formally announced by bank management. “We have many products in the pipeline to cater to varying financial needs of all the customer segments,” Summit Bank President and CEO Husain Lawai, said at the launching ceremony.
After a successful merger with Atlas Bank, the Summit Bank has an augmented network of 80 branches having presence in 20 different cities across Pakistan and Azad Jammu and

Pakistan business summit is near

LONDON – A conference to identify opportunities for doing business in Pakistan is being jointly organised on February 10, 2011 by the UK Trade and Investment and the Pakistani High Commission (PHC). The event will take held at the Lancaster House where Pakistani Minister for Investment Saleem Mandiwala and British Minister for Trade and Investment Lord Green will be the keynote speakers.
High Commissioner for Pakistan to the UK Wajid Shamsul Hasan and his British counterpart in

Pope to hold peace summit with religious heads

VATICAN CITY – Pope Benedict, worried over increasing inter-religious violence, will host a summit of world religious leaders in Assisi in October to discuss how they can better promote peace, he announced on Saturday.
Benedict told pilgrims and tourists in St Peter’s Square the aim of the meeting would be to “solemnly renew the commitment of believers of every religion to live their own religious faith in the service of the cause for peace”.
He made the announcement hours

Summit, Atlas merger reaches completion

KARACHI – Summit Bank (formerly Arif Habib Bank) and Atlas Bank will officially merge and start operating as a single bank under the name of Summit Bank. Completion of the legal merger means that the two banks can now make accelerated progress in integrating their activities. With effect from the merger date,
they will be allowed to exchange and share client information and can start technical migration of client data. The proposed management appointments’ previously announced

Eurozone bond debate rages ahead of EU summit

BRUSSELS: A dispute over creating joint eurozone bonds to help weak European nations threatened Wednesday to creep into an EU summit aimed at preventing future debt crises amid fresh fears over Spain’s economy.
The head of eurozone finance ministers, Luxembourg Prime Minister Jean-Claude Juncker, said he may raise the issue when European Union leaders hold talks in Brussels on Thursday and Friday. Concerns about the eurozone’s health deepened after Moody’s ratings agency warned

Obama wraps up G20, comes to Japan for APEC summit

YOKOHAMA: US President Barack Obama arrived in Japan Friday for a Pacific Rim summit and meetings with other world leaders, after attending the Group of 20 talks in South Korea.
Obama will take part in the weekend Asia-Pacific Economic Cooperation (APEC) summit, hosted by Japanese Prime Minister Naoto Kan and also attended by China’s President Hu Jintao and Russian President Dmitry Medvedev.
Air Force One touched down at Tokyo’s Haneda Airport from Seoul, where the G20

Pakistani rep reaches Argentina for nuclear security summit

ISLAMABAD: Pakistan’s chief negotiator on nuclear security summit process and Ambassador to China Masood Khan reached Buenos Aires for attending the two-day Nuclear Security Summit Sherpa meeting that started on Tuesday, according to a news release, released by the media department.
Representatives from 47 countries and three international organizations are taking part in the meeting that is being co-chaired by representatives of the United States, host of the first Nuclear

Amin Faheem leaves for regional trade summit

The Federal Minister for Commerce Makhdoom Amin Faheem has left for Moscow to attend a summit attended representatives of Russia, Tajikistan, Afghanistan and Pakistan.
According to officials, the three-day conference of commerce and trade ministers starts on October 22 and deliberations will be held on promoting cooperation in hydel wind, solar and coal based power projects as well as in primary sectors such as agriculture, irrigation, fisheries and dairy

Medvedev to discuss missile defence at NATO summit

DEAUVILLE: Russian President Dmitry Medvedev agreed on Tuesday to attend next month’s NATO summit and said Moscow was prepared to discuss the Alliance’s proposed anti-missile shield.
Medvedev was speaking in the elegant French seaside resort of Deauville after talks with French and German leaders that were partly overshadowed by news of a bloody separatist attack in the Russian republic of Chechnya. President Nicolas Sarkozy and Chancellor Angela Merkel hosted Medvedev in order