Financial Risk Manager

Ways of Financial and Risk Management

BankIslami Has Acquire Citibank Pakistan’s House Financing Portfolio

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BankIslami has signed a first-of-its-kind deal to acquire Citibank Pakistan’s house financing portfolio amounting to Rs953 million. This is the first time an Islamic bank has acquired mortgage assets of a conventional bank.

“This acquisition will serve as a milestone for the Islamic banking industry in Pakistan and elsewhere,” said BankIslami CEO Hasan Bilgrami. He added that the acquisition of the housing portfolio is in line with BankIslami’s growth strategy in this segment.


Citibank’s house finance customers will now be required to switch to the Islamic mode of financing. “The transition for customers to BankIslami will be made easy and convenient,” said the CEO. Despite a general slowdown in the banking industry, BankIslami has expanded to 100 branches in less than three years.

A compound annual growth rate of 72 per cent over the last two years has made it one of the fastest growing banks in the country. 

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posted @ 5:13 PM, ,

Tax Solutions

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If you are going to buy or sell a home or you have a baby or you are going to change your job or get married. turbotax.com is with you. Their Deluxe, Premier, and Home & Business products ask you simple questions to learn what’s changed in your life, and then automatically fill in the right tax forms for you. Based on your answers, they also look for deductions and credits to help you take advantage of every opportunity to save.

TurboTax can get W-2 information directly from over 100,000 companies and investment information from several well-known financial institutions, and then automatically put it into the right places on your return. With just a few clicks, your return could be half-way done.With the TurboTax Refund Card, you can have your tax refund deposited directly to a reloadable prepaid VISA card - without using a bank account or waiting for a paper check. You'll get your refund in as fast as 8 days when you efile.

It is the fastest growing such site, drawing more than one million visitors in January, the measurement firm said. Traffic to TurboTax.com nearly tripled as more than 1.9 million surfers visited the site last month, as compared to 509,000 visitors in December 2001. And Internet users visited IRS.gov in droves as the site attracted more than 6.2 million unique visitors in January 2002, increasing 273 percent. Visit the neatly laid out site and see what they are offering and how.

posted @ 2:24 PM, ,

Better Option – Keeping Dollars or Investment?

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Mubeshir Ali Kazmi (ACA)

This article appeared in Pakistan Accountant July-Sept 2010 issue


Memories are valuable in life. I still remember that day when my uncle gave me a ten US dollar note on my tenth birth day. I could not buy an ice cream from general store against the currency but it did create interest and I started collecting and saving foreign currency notes and coins. I have extended family living broad hence my collection started growing steadily. At that time the rupee was trading about 29.40 to dollar (imagine now when Pak currency has fallen to the lowest level verses dollar on the inter-bank market for buying and selling at almost 86.00.)

Graphical representation of Pak rupee value to dollar is as shown in the diagram. Why is rupee falling so fast? Most economists are of the opinion that the main reasons behind the fall of the rupee are an increased demand for dollars due to a spurt in crude oil prices and the flight of foreign funds from the local markets. Demand for rupees, simultaneously, has dipped because capital inflows are down.

Our currency is staggering in a see-saw fashion and declining trend in the value of Pak rupee is increasing day
by day. As a result people have started having foreign currencies at their homes and in bank lockers after purchasing it from the local market. This is another reason of escalating the value of dollar. They believe that keeping dollars and other demanding currencies in their pocket is good option rather than investing it some where else. I have asked number of my friends who are in the know of the matter as to why they are doing this? They simply reply that they do not see a better alternative to invest their money.

Sadly, this perception is wrong. There are number of options available in the market at this time even when liquidity crunch has caught our economy in vice-like grip. There are alternative that would not only secure for our savings at very competitive rate but can also contribute to our national economy. I remember what Quaid-e-Azam had rightly said,

“Thrift as a national asset is going to play an important part in the building up of the state”. So save and invest in Pakistan saving certificates.

Government of Pakistan has issued number of certificates including Defense Saving Certificates, Special  saving Certificates, Regular Income Certificates and Bahbood Saving Certificates. Among all Bahbood Saving Certificates for senior citizens and widows are more lucrative than others in terms of rate of return that is 14.16% p.a. This return is exempted from deduction of withholding taxes and Zakat and is far better than the annualized rate of increase in dollar historically that is clearly shown in the diagram except for the year 2009. Further, volatility of exchange rate in favorable direction is quite uncertain, however profit against saving certificates would remain definite as finalized at the time of purchase.

Most of the people are not very much aware of the pros and cons of these saving schemes. Normally retired people are interested to place their retirement funds in any one of the schemes offered by saving centers to make ensure their monthly returns. Some people including businessmen who have ability to judge the main risk, that is the cost of opportunity would reluctant to invest in these schemes. Since this kind of securities offer a very low risk, the interest rate is also lower than the ones offered by private entities.

However, still there is a margin of arbitrage gain that an investor can obtain through replacing their investment in dollars with Behbood scheme. In coming future current offering rates of return against these schemes would be decreased as market correction.

Where is the best place for our investment in today’s scenario considering all risk factors? I posed this  question to my colleagues, peers and market experts. Most of them who continuously watch market dimensions like Mr. Tahir Hussain Raza (Director Finance of Acro Group of Companies), working in financial market for many years agree with this analysis and have suggested the same. This understanding can help anyone to make an informed saving decision and not “putting all eggs in one basket.” On the other hand, this would be a good step to reduce a little portion of the undocumented economy worth Rs.100-200 billion of our country.



About the author:

The author is Chief Financial Officer and Company Secretary, Acro Spinning and Weaving Mills, lahore.

Mubeshir Ali Kazmi is an economist, writer and a blogger. He can be reached here.

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posted @ 11:25 AM, ,

Holiday Villas

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Everyone who is looking for to spend his holidays in a very congenial environment and place, must have a look at holiday villas which is really different. They are not a booking agency, they are a passionate organization of independent luxury self catering holiday cottage owners, working together to ensure the highest quality self catering holiday accommodation.

With quality comes service. You book direct with the holiday cottage owner, most of whom are on site or nearby, the person best able to help tailor your luxury self catering break to your personal requirements. Whether it's for a family holiday, a reunion of friends, a short break or a honeymoon you will find the perfect.


Villa holidays from Hoseasons are the perfect way to spend time basking in the summer sunshine in some truly stunning locations around Europe. Hoseasons have villas situated in many brilliant locations including Cyprus, France, Malta, Portugal, Spain and Turkey, meaning you’re guaranteed a dose of summer sunshine. They have villa holidays available in coastal resorts for those that love a beach holiday.

posted @ 11:22 AM, ,

Shisha - A Delicious Killer

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By Dr. Syed Fahim Ahmed

Shisha also known as Hookah or Water Pipe is known to man kind for over 300 years. Shisha offers a mixture of crude types of tobacco fermented with molasses and fruits and the sweet odour of fruits conceals the natural smell of tobacco’s tar and nicotine. It has been claimed that more than 100 million people worldwide smoke Shisha daily. It is a common practice in the Middle East, Turkey, India, Pakistan, Bangladesh, and some Parts of China. Shisha tobacco is available in a variety of flavors, such as apple, mint, cherry, chocolate, coconut, licorice, cappuccino and watermelon. Shisha smoking is typically practiced in groups, with the same mouthpiece passed from person to person.



In Pakistan tobacco sale is prohibited by law to anybody under the age of 18. Smoking is also prohibited at all public places, including hotels and restaurants. It is indeed sad that by allowing cigarette and shisha smoking in these closed premises, the anti-smoking laws of the country are being openly violated by almost all hotels and restaurants in the country.

Unaware of the fact that shisha, or water-pipe smoking, is just as harmful as cigarette smoking, the city’s youth, particularly university-level students, are getting hooked to these shisha’s and that too with parental approval .

A large number of school and college students of both genders belonging to under-18 age group can be seen using shisha at most restaurants and hotels of the country. In fact, every day new shisha cafes are opening up in the country because of its increasing demand by the younger generation.

MYTH ABOUT WATER-PIPE SMOKING

A widespread myth about water-pipe smoking or shisha is that the passage of smoke through the steaming water in water-pipes ‘purifies’ the smoke of all harmful elements.

It has now been established, however, that exposure to carbon monoxide and nicotine after water-pipe smoking is at almost the same levels as those associated with cigarette smoking.

It has also been proven that long-term habitual use of water-pipes, as with regular cigarette smoking, is associated with lung, gastrointestinal and bladder problems as well as pulmonary, cardiovascular and hematological disease. Other dangers include infections such as tuberculosis, hepatitis C, pulmonary aspergillosis and Helicobacter pylori infection.

HEALTH HAZARDS OF SHISHA

The turn of the 21st century saw many transformations in the health sector. The move from curative to preventive and promotive health care is strengthening and the emphasis is now on improving the quality of life. Against all the positive advancement in health care, the 21st century also witnessed an unprecedented rise in elements bent upon destroying life; among them tobacco remains the number one factor adversely affecting the health of mankind. Though the developed world has controlled its usage, to some extent through strong legislation, yet no such laws are properly enforced in developing countries.

Several Scientific studies done to see the adverse health consequences of shisha smoking point to dangers that are similar to those associated with cigarette smoking. The research conducted on Shisha use has clearly shown that it has particularly serious health consequences on 2 vital organs of body namely the lungs and heart. Lung Cancer, Cancers of the Food Pipe, Chronic Obstructive Lung Disease, Emphysema, low birth weight, precipitation of Asthma attacks and pneumonia are some of the health hazards associated with shisha smoking.

Additional dangers not encountered with cigarette smoking are infectious diseases resulting from pipe sharing and the frequent addition of alcohol or psychoactive drugs to the tobacco. Another worrying aspect of shisha epidemic is that previously it was used in countries like Pakistan and India, mainly by the elderly people living in the villages but in the past few years its use has markedly increased in the urban areas of this subcontinent. Many restaurants in urban areas are now offering Shisha to their customers.

Smoke from Shisha besides others contains hundreds of potentially dangerous heavy metals like, Arsenic, Cobalt, Chromium and Lead. Under normal Shisha use the smoke produced from a single pipe use contain approximately the same amount of Nicotine and Tar equivalent to 20 Cigarettes. Research has also shown that after 45 minutes of Shisha use expired air, carbon monoxide, plasma nicotine and heart rate are significantly elevated. Nicotine dependence may also result from repeated inhalation of tobacco smoke from Shisha. Besides Lung Cancer Shisha use is also linked with increased risk of, Mouth and Urinary Bladder Cancer.

According to recent studies the pipe could act as a good medium for conveying bacteria causing infectious diseases like Hepatitis A that can be easily transmitted when shisha pipe is used by multiple smokers.

Research showed that people who regularly smoke shisha can suffer from dangerous levels of carbon monoxide (CO) similar to that of inhaling a car exhaust.
According to the research, one session of shisha smoking can result in CO level at least five times higher than the amount inhaled by one cigarette. This high level of CO not only can cause brain damage but may also result in death.

HOOKAH SMOKE AND CANCER

The charcoal used to heat tobacco in the shisha increases the health risks by producing high levels of carbon monoxide, metals, and cancer-causing chemicals.

Even after it has passed through water, the smoke produced by a shisha contains high levels of toxic compounds, including carbon monoxide, heavy metals, and cancer-causing chemicals.
Shisha tobacco and smoke contain numerous toxic substances known to cause lung, bladder, and oral cancers.

Irritation from exposure to tobacco juices increases the risk of developing oral cancers. The irritation by tobacco juice products is likely to be greater among shisha smokers than among pipe or cigar smokers because shisha smoking is typically practiced (with or without inhalation) more often and for longer periods of time.

The prevalence of periodontal (gum tissue) diseases in the study conducted by Dr. Kenneth A. Krebs, president of the American Academy of Pediatrics, was 30 percent among shisha smokers, 24 percent in cigarette smokers and eight percent in non-smokers. Research from this study shows that the relative risk for periodontal disease increased five-fold in water pipe and 3.8-fold in cigarette smokers, compared to non-smokers.

HAZARD OF SHISHA DURING PREGNANCY

Since a mother and her fetus have connected blood systems; cancer-causing chemicals such as tobacco can pass through the placenta, the tissue and blood vessels which nourish the baby. As a result, it can then travel through the umbilical cord and into the body of a developing baby. Hence when you smoke during pregnancy:

· You could have a miscarriage or stillbirth.
· Your baby could be born too small or too soon.
· Babies born too small may have breathing and other health problems.
· Your baby could have learning and behavior problems later in childhood.
· Your baby is at an increased risk of death from a condition known as "sudden infant death syndrome". This illness causes a baby who seems healthy to die without any warning.

Studies have also shown that when a non-smoking pregnant woman breathes in passive smoke, it will also affect the unborn child. Hence, it is important for both the pregnant woman and her significant others, e.g. spouse, to quit smoking so as to reduce the risk of their baby being affected. Both parents should seek to create a smoke-free environment for the new born baby to ensure that he/she does not suffer from many short and long-term health problems pass through the placenta, the tissue and blood vessels which nourish the baby

SHISHA AND FERTILITY

Smoking has always been a health hazard that is totally preventable. Staying healthy will help increase a couple's chances of conceiving. A study conducted by the Institute of Health Sciences, University of Oxford, shows that women continue to smoke close to the time of conception take significantly longer to become pregnant than women who have never smoked or have stopped smoking a year before the time during which they attempt to conceive.

It is also important to note that the time taken for the body to recover from the ill effects of smoking varies for every individual, depending on a person's eating habits, lifestyle, stress level, age and genetic attributes, etc. However, there are also many other reasons which may affect a couple's fertility rate and it would be better for you and your husband to consult a gynecologist for professional advice.

SHISHA AND PASSIVE SMOKER

A passive smoker is anyone who breathes in smoke from another person's cigarette. It has been shown that passive smokers suffer the same health risks as smokers.

Passive smokers may suffer from irritation to the eyes, runny nose, sore throat and headache. If they continue to breathe in other people's smoke, they have a higher chance of developing lung cancer, heart attack and lung infection. Passive smoking can also make the lungs work less efficiently.

Passive smoking can bring on a severe attack in people with:

· asthma
· bronchitis
· heart disease
· colds and allergies

The smoke breathed in by the passive smoker may contain up to:

· 3 times more tar
· 5 times more carbon monoxide
· 3 times more nicotine
· 50 times more cancer-causing chemicals than the smoke inhaled by the smoker through the cigarette filter tip

But that doesn't mean smoking is less dangerous for the smoker. The smoker inhales far more smoke from each cigarette than the people around him

WORLD HEALTH ORGANIZATION (WHO) REPORT ON THE HEALTH CONSEQUENCES OF SHISHA

The use of “shisha” also known as hookah or water pipe is rapidly increasing in the major cities. Unfortunately most people who use shisha are not aware of its harmful effects. Most restaurant owners tell their customers that it is merely flavored smoke and that there is no tobacco in it.

Recently, however, the World Health Organization (WHO) released a report on the health consequences of shisha use and it has proved to be an eye-opener. A commonly held belief is that shisha is harmless because the smoke first passes through water before it is inhaled. The shisha smoker may inhale as much smoke during one session as a cigarette smoker would inhale consuming 100 or more cigarettes. Even after it has passed through water, the smoke produced by a shisha contains a high level of toxins, including carbon monoxide, heavy metals and other carcinogens.

A similar hazard is posed to other people who are not directly using shisha by means of passive smoking. It is indeed sad that in spite of an ordinance in place, which bans smoking in public places many restaurants; offer shisha to their customers. Tobacco used in these water pipes is often sweetened and flavored, making it very appealing to children and teenagers. A survey done on youngsters of school-going age in Karachi recently showed that almost 70 per cent had tried shisha in the past six months, and this included children as young as seven.

Many of the commercially available packets, which are used for shisha smoking, have misleading labels such as 0.5 per cent nicotine and zero tar. WHO in its report has strongly recommended that healthcare professionals educate the public about the potential dangers of shisha use. Moreover, the sharing of shisha between people poses an additional risk of TB, herpes, flu, meningitis and hepatitis transmission

W.H.O RESEARCHERS STRESSED.

“Water pipes should be subjected to the same regulations as cigarettes and other tobacco products. Water pipes and water pipe tobacco should contain health warnings. Claims of harm reduction and safety should be prohibited.”

W.H.O REGULATION ON TOBACCO PRODUCT

1. Shisha should be subjected to the same regulations as cigarettes and other tobacco products.
2. Shisha should contain health warnings.
3. The restaurants should inform their clients of the actual contents of Shisha.
4. Media should be involved in creating awareness against the hazards of Shisha smoking.
5. Awareness sessions against the hazards of Shisha smoking and other substance abuses should be made a regular feature in all educational institutions.
6. Surveys should be conducted to assess the extent of the problem and its prevalence in our society.
7. Longitudinal studies should be conducted to assess the health implications of Shisha smoking.

WHO Report on Pakistan’s Population

According to the World Health Organization (WHO), Pakistan’s population of 160 million includes 22-25 million tobacco smokers; 36 percent of adult males and 9 percent of adult females smoke. About 60,000 people die annually from tobacco-related diseases in the country.

Pakistan Medical Association Recommendation

A 2007 article in the Journal of the Pakistan Medical Association recommended a number of steps should be taken, including: 

Another factor adding to shisha popularity is its social acceptability as compared to cigarettes and its portrayal is a symbol of modernization of our cultural heritage. The extent to which water pipe smoking has penetrated our society is difficult to establish since very little work has been done on it. A recent survey conducted in high socio-economic schools of Karachi reported that Shisha is gaining popularity among the young generation and it is easily available in the restaurants, hotels and Shisha cafes. As compared to cigarette smoking it is readily acceptable and has become part of social gatherings. This survey estimated that almost 70% children have experienced this form of tobacco, including both boys and girls as young as seven years old.5 The tragedy is that most of these youngsters did not know that Shisha smoke contained tobacco, even though the nicotine content of Shisha tobacco has been reported as 2% to 4%, as compared to 1% to 3% for cigarettes. Its smoke also contains hundreds of potentially dangerous substances including carbon monoxide, charcoal, nicotine, arsenic, cobalt, chromium and lead.

Shisha smoking though a part of our cultural heritage is damaging the youth of our country. It is imperative to prevent our younger generation from indulging in a habit which will have detrimental effects not only on their health but also on the health of the country.

SHISHA AND RESIDENTIAL AREA

Serving shisha in the residential areas has become very annoying to most people in the city. I personally believe authorities concerned should intervene to regulate the spread of shisha outlets, especially in residential areas. Besides health risks of shisha, it distracts youth from becoming creative and utilizing their leisure time for doing something useful. I believe shisha cafes and restaurants distort the beautiful look of cities. They also allure young people to taste the much promoted type of smoking (shisha), which I fear might soon become a habit of elegant and educated young people. I believe authorities concerned should be alert to control prevalence of this harmful phenomenon. It is not only to ban shisha use in the restaurants but also to take other practical steps for the full implementation of the “Prohibition of smoking ordinance 2002” in the country.

COMPARED WITH CIGARETTE

While many shisha smokers may consider this practice less harmful than smoking cigarettes, shisha smoking carries many of the same health risks as cigarettes.

Shisha smoking delivers the addictive drug nicotine and is at least as toxic as cigarette smoke.
Due to the mode of smoking—including frequency of puffing, depth of inhalation, and length of the smoking session—shisha smokers may absorb higher concentrations of the toxins found in cigarette smoke.
A typical 1-hour-long shisha smoking session involves inhaling 100–200 times the volume of smoke inhaled from a single cigarette.

Shisha smokers are at risk for the same kinds of diseases as are caused by cigarette smoking, including oral cancer, lung cancer, stomach cancer, cancer of the esophagus, reduced lung function, and decreased fertility.

URGENT NEED

There is an urgent need to educate the public against the dangers of the Shisha use. Our religious scholars as well as non-governmental organizations should come forward and educate the public against the Shisha epidemic which is rapidly spreading in not only in the Muslims countries but also in the developed world. Special seminars should be held in schools warning the children against the dangers of Shisha use. Government must also bring laws restricting restaurants owners serving Shisha to its customers. Water-pipe tobacco should be subjected to the same regulations as cigarette and other tobacco products. Besides creating awareness about the health hazards of pipe smoking, Pakistan needs to broaden the scope of the Tobacco Control Programme to encompass water-pipe smoking as well.

OUT LOOK

Remember, they are not only burning our health, but they are also destroying yours and mine by contaminating our air with the thick clouds of their second-hand smoke. Our silence only encourages the harmful practices of the few.

Clean air is our God-given right. We should protect it from any kind of pollutants and our health from damage.

Most scholars now agree that cigarette smoking is haram, i.e. prohibited for Muslims due to its harmful effects on the human body, which directly go against an injunction in the Quran.

“AND DO NOT KILL YOURSELVES. SURELY, ALLAH IS MOST MERCIFUL TO YOU. AND WHOEVER COMMITS THAT THROUGH AGGRESSION AND INJUSTICE, WE SHALL CAST HIM INTO THE FIRE AND THAT IS EASY FOR ALLAH” [QURAN 4:29]
“AND DO NOT THROW YOURSELVES INTO DESTRUCTION.” [QURAN 2:195]

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posted @ 11:52 PM, ,

Injury Lawyer Austin

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Most people think when they hear of a big personal injury settlement that the recovery was a huge windfall for the victim. Some people feel that bringing a lawsuit will harm their reputation in the community or make them less of a person for hiring a lawyer. Through experience they know this is as far from the truth as possible. When a person is involved in a car crash or an on the job injury the individual’s life is affected physically and financially. The ability to work is taken away. Medical bills seem insurmountable, even family members are strained. Little things such as hotel bills and hotel parking bills for family members can add up rapidly.

At The Butler Firm, Injury Lawyer Austin want you to know they care about what you are going through first and foremost. Second, they will strive to work their best for your individual case so that you obtain the compensation to deal with the financial stress forced upon you.

You are their client and your needs will always come first. Second, they will actively seek out compensation from liable individuals or businesses, but they will not file frivolous claims against someone not responsible for your injury. They will not disparage your reputation in Austin.

posted @ 11:49 PM, ,

What is Debit note and Credit note?

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Debit Memo - It is a sales document used in complaints processing to request a debit memo for a customer. If the prices calculated for the customer were too low, for example, calculated with the wrong scaled prices, you can create a debit memo request. The debit memo request can be blocked so that it can be checked. When it has been approved, you can remove the block. It is like a standard order. The system uses the debit memo request to create a debit memo.

Credit Memo - A transaction that reduces Amounts Receivable from a customer is a credit memo. For eg. The customer could return damaged goods. A debit memo is a transaction that reduces Amounts Payable to a vendor because, you send damaged goods back to your vendor.

Credit memo request is a sales document used in complaints processing to request a credit memo for a customer. If the price calculated for the customer is too high, for example, because the wrong scale prices were used or a discount was forgotten, you can create a credit memo request. The credit memo request is blocked for further processing so that it can be checked. If the request is approved, you can remove the block. The system uses the credit memo request to create a credit memo.

As mentioned above, creating a credit or debit memo request enables you to create credit or debit memos based on a complaint. For this first create a sales document with the order type for a credit or debit memo request. You can create the debit or credit memo requests in the following ways:
– Without reference to an order
– With reference to an existing order
Here you enter which order the complaint refers to.
– With reference to an invoice
Here you enter which invoice the complaint refers to.
In all cases, you specify the value or quantity that should be in the credit or debit memo

You can block the credit or debit memo request from being billed in Customizing. Go to Sales -> Sales Documents -> Sales document header -> Define sales document type and select the billing block field in the billing section. This request can later be reviewed along with similar ones, - if necessary, by another department. The request for a credit or debit memo can then be approved or rejected.

To create Credit / Debit Memo request:

- Use the same procedure that you use for Creating Sales Orders i.d T Code VA01
- Give Order Type as CR for Credit Memo and DR for Debit Memo reuest

While creating the request you have to enter Customer Number, Reason for the request. and Material and its quantity. Once the credit or debit memo request is released you can create credit or debit memo. The credit memo request will be automatically blocked for checking with Billing Block 08 (to check credit memo) & 09 (to check debit memo) for the sales order type “CR” .

If it is not so you can customize the block for credit memo requests in Customizing for SD when you define the order type Sales and Distribution -> Sales -> Sales Documents -> Sales Document Header -> Define sales document types. The release of block is allowed to be removed only by the people who are authorized for it. If the amount is within acceptable limit the block is automatically released otherwise all the people assigned to this job receive a work item in their integrated inbox for release.

If the complaint is not automatically blocked by the settings in Customizing, you can set a delivery or billing block manually.

- Logistics -> Sales and distribution -> Sales.
- Choose Order -> Change.
- Enter the number of the sales document, or use a matchcode to search for it.
- Choose Enter.
- If all the items have been blocked, choose Select all.
- If only some items should be blocked, select the corresponding items.
- Choose Edit -> Fast change of... -> Delivery block or Billing block.
- Enter the delivery or billing block for the header or individual items.
- Choose Copy.
- The system copies (or deletes) the delivery or billing block in all the selected items.
- Save your document.

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posted @ 11:33 PM, ,

Denby Dinnerware

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Denby dinnerware combines sumptuous design and exceptional quality and functionality, all at great prices direct from the manufacturer. At Denby we are confident that we have the perfect dinnerware pieces for your home, with a startling range of patterns and designs, meaning our crockery items are truly versatile.

Choose from dinnerware sets that combine chic, contemporary style and elegant aesthetics, to more traditional items perfect for wedding gifts and presents all year round. No matter what type of crockery you choose however, Denby ensure that every item is above all, practical. The combination of stunning beauty and practicality are features our customers have come to expect throughout our illustrious history. This has not changed and today we strive to produce crockery items of the highest quality at competitive prices.

posted @ 11:31 PM, ,

Austin Divorce Attorney

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There is an endless supply of divorce attorneys out there. With so many choices, it is difficult to select an attorney who will both be compatible with your personality and who is experienced enough to best represent your interests. At the Butler Firm, we can promise you one thing without hesitation; your divorce attorney will continually strive to meet and excel your expectations when given the opportunity.

Having a divorce lawyer who understands the emotional struggle you are going through is foremost on our priority list. I personally demand from every employee and attorney who works for The Butler Firm to provide the utmost care and attention to you, our client. During this tough time, the last thing you need is an attorney who refuses to return your e-mails and phone calls. That is why, from the beginning, you will be personally assigned your very own attorney. Your divorce attorney will be made readably available to you by phone, e-mail, and in-person meetings so that he or she can answer all of your needs. Have a look at Austin Divorce Attorney and see what they are offering and how?

posted @ 11:27 PM, ,

Investor Portfolio Securities Account (IPS)

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Please refer to SBP letter no.PDO/KH/1417/91 dated 28th April, 1991 containing instructions regarding IPS accounts and the procedure relating to issue, management and repayment of PIBs.

In order to consolidate & streamline all instructions on the above and to broaden the investor base of Govt. securities following instructions are being implemented:

1. All primary dealers are required to offer IPS accounts to their customers.

2. Any Scheduled Bank desirous of offering IPS accounts to their customers must fulfill the provisions of this circular.

3. Opening of IPS account: Purpose of this account will be the investment in the PKR denominated GOP debt securities i.e. Pakistan Investment Bonds, Treasury Bills, Ijarah Sukuks or any other such security issued by State Bank of Pakistan from time to time on behalf of Government of Pakistan. Any individual or entity which has PKR denominated account with any scheduled Bank will be eligible to open IPS account.

4. Recording transaction in IPS account: Each Scheduled Bank /Primary Dealer will devise their own internal guidelines regarding IPS account opening and develop a system for IPS account maintenance which at a minimum should have the capacity to allot account numbers, record transactions and generate activity statements. All Scheduled Banks /Primary Dealers are advised to submit copy of internal guidelines in this regard to this department before January 31, 2011.

5. Reporting to Customer: Each Scheduled Bank /Primary Dealer will provide activity statements to IPS account holders on quarterly basis.

6. Reporting to SBP: Customer wise holding position in each category of Government security must be reported to Public Debt Office SBP (BSC) Karachi latest by 5th of each month as per format at Annexure-II. Each Scheduled Bank /Primary Dealer must ensure segregation of the securities held in IPS accounts from its own holdings.

7. All Scheduled Banks /Primary Dealers are advised to introduce and publicize the above facility at branch level. Further, IPS maintenance charges (if any) must be clearly defined in schedule of charges of Scheduled Banks /Primary Dealers.

posted @ 11:19 PM, ,

Cash Solution

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If you are looking for a quick way to get the cash you need fast, you may consider a lot of options. You may want to try and borrow from family or a close friend, but it is not always a good idea to borrow money from someone you know. It may not even be an option if you can't find someone with the cash to cover what you need. And a bank loan can take a week to process, as well as have too many requirements to getting one. Consider payday loans online instead, and have the money you need today.

This is for individuals who feel like they cannot get a loan elsewhere because of their credit rating. Most of this no check payday loans are more flexible, they are although short term and are usually unsecured loans. They don’t usually do credit checks on customers so if individuals have bad credit that doesn’t mean anything as individuals will still be eligible to receive a payday loan. Most of this options can be found payday loans online 
 and all one needs to do is to fill in an application online and one will receive they requires in quick time according to what you have specified in your application. Even if an individual feel the need to get another loan immediately they have paid for the other one they are still allowed to do so and this time will get there limit increased.


The application process is very easy, and when you apply for cash advance payday loans over the Internet, you can do it right from the convenience of your home. You don't have to get in your car, waste gas and drive all over to get the loan that you need. You can even apply day or night for the loan, whenever you need the money. Simply log on to your computer and fill out the application process online. When you choose payday loans no faxing companies, they can be the right choice for you. With faxless payday loans online, you never have to send in any proof of information by fax, such as a copy of your pay stubs or checking account. The company does all the legwork for you, making the process an even simpler one.

posted @ 1:11 PM, ,

Holiday Parks In Europe

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Everyone likes to spend his vacations at beautiful places because he has to spend his money and time for it as an opportunity cost. What if the place he has to choose to spend his vacations in Switzerland? It is really heaven on earth.

With some of the most spectacularly panoramic mountain scenery in Europe, Switzerland is dominated by snow clad peaks. Watch waterfalls cascading down mountainsides, explore hillsides dotted with chalets and enjoy Alpine meadows covered with flowers and spend a wonderful and memorable switzerland holidays to enjoy heaven on earth. Visit the neatly laid out site and see what they are offering and how.

posted @ 10:46 AM, ,

Derivative Deal Signed by HSBC and ESML

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HSBC is one of the largest banking and financial services organisations in the world with an international network of around 8,000 offices in 87 countries and territories in Europe, Asia Pacific region, Americas, Middle East and Africa. In this regard, HSBC is well placed to offer highly innovative financial services to its customers, both locally and internationally.

HSBC Pakistan and Ellcott Spinning Mills Limited (ESML), a subsidiary of Nagina Group recently completed a Derivative Deal in Lahore. Commenting on the transaction, Umar S Khan, Head of Commercial and Global Banking at HSBC Pakistan said, "We are excited at this development. In addition to using HSBC's global strength to better serve its customers, it paves the way to offer more solutions to our customers."

The Head of Global Markets at HSBC Pakistan, Kamran A Khan said, "This is a very promising endeavour for HSBC Pakistan and ESML and will go a long way in deepening the strong corporate relationship that we enjoy." With a strong footprint in trade and supply chain services and a truly integrated international network, there are many such initiatives to come. HSBC is committed to investing in the local economy and maintains a consistent presence in Pakistan.

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posted @ 1:31 PM, ,

Conservatory Blinds

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Locally based Advisors serve from 30 separate locations throughout Ireland. Each Advisor delivers the Hillarys service direct to customers in their homes. In addition to measuring and fitting for free, they will offer advice across the whole range, always ensuring that you’re provided with the best blind to suit your needs and budget.

Throughout Ireland 20,000 customers have chosen Hillarys blinds to make and fit blinds in their homes. Every single blind is finished to our customers exact requirements, giving a truly individual look to any home. Combining a unique Advisor service and high quality made-to-measure blinds secures our place as the fastest growing conservatory blinds company in Ireland.

posted @ 1:21 PM, ,

Lahore School of Economics Convocation – 2010

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The Lahore School of Economics’ Eighth Annual Convocation was held at the main campus on December 4, 2010. Dr. Shahid Amjad Chaudhry, the Rector Lahore School of Economics conferred degrees and awards to 850 graduating students of MPhil, MS Economics, MSc Economics, Masters in Business Administration, BSc Economics, Bachelors of Business Administration and Master of Business Administration (Executive) and Masters of Business Administration (Professional).

Read more here

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posted @ 9:24 AM, ,

Order Tramadol Now

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Tramadol is really a centrally-acting pain reliever or analgesic. We provide tramadol overnight shipping to assist provide quick relief. Brand names include Ultram, Ultram ER (Extended Release), and Ultracet, which combines tramadol with acetaminophen. Tramadol is taken orally. It acts by focusing on two neurotransmitters: it facilitates the discharge of serotonin and inhibits the reuptake of norepinephrine. Now you can buy tramadol online as well.



There are many advantages to purchasing tramadol online. The most beneficial aspect of making an online purchase is that you do not need to wait for a prescription. Many people do not have the time or the money to visit the doctor every time a refill is needed. If you are suffering from severe pain, you can get relief immediately. You will not have to wait for an appointment or sit in a crowded waiting room. You can also avoid having to stand in a long line at the pharmacy and buy tramadol online



Tramadol also will come in tablet form. Depending on the manufacturer you are able to select a regular or extended release. Another type of the medicine is suppositories in addition to effervescent tablets and powders. The medicine is also available for injection. This comes via ampules of sterile solution for SC, IM, and IV injection. There's also injections available which are preservative-free. These may be used through the various spinal routes. Tramadol is also available in a powder form. You can also buy the medication in liquid form. The liquid includes or without alcohol for oral and sub-lingual administration. Finally, you can order tramadol  in tablet form and capsules containing aspirin along with other ingredients.

posted @ 5:31 PM, ,

Almost famous

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I am glad to learn that Logic is Variable has been named number eight in Best of Pakistan Blogsphere - Top Ten Blogs – 2010 list published at Light Within. Thanks for this recognition.

For me, blogs are resources for my writings. More often, I blog informally, sharing impressions, generating ideas and seeing how they invoke reactions, keeping track of others’ work in fields of my interest, or simply ranting or pointing out things that come to my attention. Also, I use blogging as a platform to prune ideas. This is where I meet others and share thoughts.

In addition to my other interests, at Logic is Variable, I keep a record of my articles that appear in print media.

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posted @ 10:06 AM, ,


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