Ismaili.NET - Heritage F.I.E.L.D.

Habib Bank Limited announced on Wednesday that one of its key sponsors – the Aga Khan Fund for Economic Development (AKFED) – has expressed its intention to purchase additional shares of the bank amounting to nearly Rs3.5 billion from the open market.

The development was shared by HBL in its notice to the Pakistan Stock Exchange (PSX).

On Tuesday, Habib Bank Limited (PSX: HBL) informed the Pakistan Stock Exchange that its sponsor, the Aga Khan Fund for Economic Development (AKFED), has shown its interest to buy additional shares in the bank against an investment of Rs. 3.53 billion.

According to the stock filing, AKFED has informed HBL vide its letter dated May 1, 2023, of its intention to acquire additional shares of the commercial bank from the open market by utilizing the accumulated dividends that have not been repatriated, amounting to Rs. 3,534,747,825.

AKIPRESS.COM - The Aga Khan Fund for Economic Development acquired 6% of shares of Kyrgyz Investment and Credit Bank from several shareholders: - 2% of shares from International Finance Corporation - 2% of share from German Investment and Development Corporation (DEG) - 2% of shares of the European Bank for Reconstruction and Development...

(MENAFN- Wadsam) The Afghan government signed a Memorandum of Understanding (MoU) for the implementation of a power transmission project and construction of Sheewa Dam in Badakhshan province in Char chinar Palace on Tuesday.

Funded by Aga Khan Fund, the USD 631 million contracts are going to fulfill the electricity needs of the province for the next 30 years.

The MoU was signed by the Acting Minister of Energy and Water Mohamamd Gul Khulmi, Director of Da Afghanistan Breshna Sherkat Eng. Amanullah Ghalib and Representative of Aga Khan Fund for Economic Development.

(MENAFN- Wadsam) The Afghan government signed a Memorandum of Understanding (MoU) for the implementation of a power transmission project and construction of Sheewa Dam in Badakhshan province in Char chinar Palace on Tuesday.

Funded by Aga Khan Fund, the USD 631 million contracts are going to fulfill the electricity needs of the province for the next 30 years.

The MoU was signed by the Acting Minister of Energy and Water Mohamamd Gul Khulmi, Director of Da Afghanistan Breshna Sherkat Eng. Amanullah Ghalib and Representative of Aga Khan Fund for Economic Development.

A Memorandum of Understanding was signed for the implementation of power transmission project to Badakhshan province and construction of Sheewa Dam, the Office of the President said Tuesday.

According to a statement released by ARG Palace, the Memorandum of Understanding was signed during a ceremony which was organized in Char Chinar Palace today.

KARACHI: Jubilee Life Insurance has won two awards in Pakistan Digital Awards Ceremony 2022, The News learnt on Tuesday.

The life insurance company bagged ‘Best Integrated Media Strategy’ award for its campaign for HBL PSL Season 6 and ‘Best Content of the Year’ award for its customer testimonial videos.

This is the fourth time in a row that the company has won awards at Pakistan Digital Awards forum that recognises brands for their unique and out-of-the-box ideas.

Overview

This case study shows how clean, affordable and reliable electricity can be provided to thousands of people even in the poorest, most remote and difficult terrains. It illustrates how this simultaneously reduces energy poverty and carbon emissions while generating multiple co-benefits, including increased incomes, improved food security and community well-being, reduced deforestation, improved health from removing smoke from biofuels from homes, and improved healthcare and educational outcomes.

EXECUTIVE SUMMARY

ISLAMABAD: A Memorandum of Understanding (MoU) was signed between Special Communications Organization (SCO) and the Aga Khan Foundation (Pakistan) [AKF (Pak)] to improve IT and digital infrastructure and services in Gilgit-Baltistan (GB).

The overall purpose of the MoU is to strengthen cooperation between SCO, AKF (Pak) and other Aga Khan Development Network (AKDN) agencies in light of the shared objective of sustainable socio-economic development of GB through reliable internet and telecom infrastructure.

Amid variable interest rates, the Habib Bank Limited reported a net profit of Rs11 billion or Rs7.53 per share for the quarter ending June 2020, which is 13.8 times of Rs750 million or Rs0.44 per share it earned in the same quarter of the previous year, the company’s financial results revealed Friday.

The largest bank of the country saw its net interest income (NII) increase by 44% to Rs35 billion between April and June 2020, compared to Rs24 billion for the same quarter of the previous year.

Aga Khan has made a bid to acquire Africa’s first broadband undersea cable system company, SEACOM.
The move, which was announced last week, seeks to reorganize the SEACOM’s broadband business in Africa.
The bid was made by the Aga Khan Fund for Economic Development (Akfed). The Comesa Competition Commission made an inquiry about the proposal, and Akfed reported that it is planning to require all SEACOM shares.

LONDON, Jan. 22, 2020 /PRNewswire/ -- Globeleq, the leading independent power producer in sub-Saharan Africa, and IPS (West Africa), a company owned by the Aga Khan Fund for Economic Development, announced that their subsidiary, Azito Energie SA has reached Financial Close on its 253 MW expansion of the existing Azito gas-fired power plant near
Abidjan.

This landmark activity is in-line with the global month-long project Pinktober

IPS, the industrial and infrastructure development arm of the Aga Khan Fund for Economic Development (AKFED), and Norwegian renewable energy company SN Power have signed project agreements for the 147-MW Ruzizi III hydropower project with the governments of Burundi, the Democratic Republic of Congo (DRC) and Rwanda.

National Bank of Pakistan Aitemaad Islamic Banking Group signed the 'Bancatakaful' agreement with Jubilee Life Insurance Window Takaful Operations which is the largest life insurance company in the private sector of Pakistan. The agreement was signed in a ceremony held at NBP's Head Office to commemorate the partnership in the wake of the expanding market for Bancatakaful products.

Meridiana, an airline based in Sardinia, launched its bid on Monday to become Italy's leading carrier with a new name: Air Italy.

Your Excellency, General Pervez Musharraf,
Begum Musharraf,
Honourable Governors,
Honourable Ministers,
Excellencies,
Distinguished Guests
As-salaam-wa-alaikum

It gives me great pleasure to take part in the formal opening of the Islamabad Serena Hotel today, although, as some of you know, it has been open to the public since the end of last year.

I should like to begin by expressing to President and Begum Musharraf the gratitude of everyone connected with this endeavour, including myself, for accepting our invitation to be present on this happy day.

The festival of Navroz is a time when we think about renewal and rejuvenation—when we welcome a new spring season in a spirit of hope and optimism.

Your Excellency President Otunbaeva
Honorable Speaker of Parliament
Excellencies
Distinguished guests

Today is truly a special day—and for several reasons.
First, it comes at a special time of the year.

The festival of Navroz is a time when we think about renewal and rejuvenation—when we welcome a new spring season in a spirit of hope and optimism.

And that spirit is very prevalent as we gather here today to mark the opening of a new head office for KICB—and as we celebrate the spirit of forward-looking progress in the Kyrgyz Republic.

ISLAMABAD, Feb 26: Pakistan on Thursday handed over its second largest bank - Habib Bank Limited (HBL) - to Aga Khan Fund for Economic Development (AKFED) against a two-phased Rs22.409 billion highest bid for 51 per cent shares along with management control received in December last year.

Secretary Privatization Ahmed Waqar and Sultan Allana signed the transfer of management agreement on behalf of the Privatization Commission and AKFED respectively. Finance Minister, Shaukat Aziz and Privatization Minister Abdul Hafeez Shaikh witnessed the signing ceremony.