60% of SMEs globally not supported to tackle bribery and corruption

Karachi(Cliff News)A new global survey by ACCA has revealed 60% believe there is insufficient guidance for SMEs to combat bribery and corruption.The research, commissioned by the Association of Chartered Certified Accountants (ACCA), has highlighted that of 932 cross-sector accountants surveyed, fewer than one in three believe there is enough support for small businesses to tackle bribery and corruption.In the professional accountancy body’s report Combating bribery in the SME sector, respondents outlined fears that procedures and policies and risk assessments are not always in place to help management and the employees.The survey showed how SMEs value practising accountants for their all-round business support services, but that there is still a pressing need for collaborative work with governments around the world, inter-governmental departments and other stakeholders.‘Bribery and corruption is not only a concern for SMEs. It is a concern for our society as a whole which continuously erodes ethical values and norms. The long-term harm done to the whole economy is recognised by many in the business world in Pakistan, and the official government messages that bribery and corruption must not be tolerated should be repeated loud and often. But practically supporting SMEs in Pakistan to tackle bribery and corruption should be the first step.’ – Sajjeed Aslam, head of ACCA Pakistan.Jason Piper, global policy lead for Business Law at ACCA, highlighted the challenges that SMEs face in understanding the legal requirements in connection with bribery and corruption.Mr Piper pinpointed SMEs globally are overwhelmingly seeing bribery and corruption as having a negative impact on the business environment.He said: ‘The findings from this survey are conclusive and show businesses are desperately searching for that much-needed support.Globally, 62% of survey respondents believe SMEs that demonstrate strong anti-bribery credentials will be more likely to be able to trade with large businesses and public bodies. This reflects that fact that global enterprises are increasingly concerned about their supply chain exposure to a range of risks associated with CSR, including bribery and corruption issues.‘Compared with our survey findings from six years ago, small businesses believe there is even less guidance on combating bribery and corruption. We found that employees negotiating on behalf of companies need awareness courses on what constitutes bribery – and more important how to deal with this.Crucially, anti-bribery guidance for SMEs needs to be short and accessible. This is something most of our members questioned do not believe to be the case.’Mr Piper concluded that whilst the accountancy profession has been working to support small businesses, collaborative work with governments around the world, inter-governmental departments and other stakeholders must continue to progress.He said: ‘ACCA will continue to work with the stakeholders with the objective of more resources being made available. Governments need to ensure whistle-blowers remain protected – through developing additional guidance or improving awareness of what already exists in this area.’

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.ACCA supports its 208,000 members and 503,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 104 offices and centres and more than 7,300 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.ACCA has introduced major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability.

 

 

Airlink Communication and Huawei Technologies join hands for the next generation Cloud Computing

Mr. Muzzaffar Hayat Piracha CEO Airlink with Mr. Chinlinchun CEO Huawei(MOU signing)

Karachi(Cliff News)Airlink Communication and Huawei Technologies join hands for the Cloud Data Center in Pakistan. The landmark agreement was reached at “Pak China Trade and Investment Forum” currently being held in Beijing. The Cloud will be named as Huawei Airlink Cloud and this collaboration will be first of its kind in Pakistan. The main focus of this agreement will be to bring a revolution in Media and Finance Industries of Pakistan by introducing world class IT Solutions and infrastructure.Airlink Communication has remained preferred partner of Huawei in Pakistan since 2012. This agreement is in continuation of sustained business relations between the two companies. The CEO of Airlink Communication, Mr.Muzzaffar Hayat Piracha, lauded this historical engagement between the two companies and said that Airlink Communication believes in bringing the best IT solutions to Pakistan and it will continue to play its role in the growth and development of Pakistan’s economy. Mr. Piracha also shared that Airlink Communication will further strengthen its relationship with Huawei Technologies to reach other sectors in near future. Huawei CEO, Mr. Chinlinchun said in this regard “With Airlink’s contribution Huawei will offer solutions for media and finance industry, work will facilitate into global content sharing, high cloud platform like OTT etc, where commitment will come in content sharing. Adding important content, milestone in finance industry Huawei will provide Agility service, business investment, service intelligence etc to make Pakistan more and more advanced in the field of technology”

International hospitality investment group invest $118 million on Pakistan tourism industry

 

IHIG English Picture CaptionIslamabad(Cliff News)As the International Hospitality Investment Group (IHIG) is investing 118 Million Dollars in the tourism industry of Pakistan, the CEO of this resourceful multinational enterprise – Noor ul Asif, along with its Chairman – Mr. Alun Richards, held a meeting with the Chairman Board of Tourism – Mr. Zulfi Bukhari, Special Advisor on Political Affairs to the Prime Minister – Mr. Naeem ul Haq and the Chairmain Board of Investment (BOI) – Mr. Haroon Sharif. The meeting took place at the Prime Minister’s Secretariat in Ibad, to discuss the prospects of investment in Pakistan. Mr. Zulfi Bukhari assured the Chairman of IHIG about the Pakistan Government’s commitment to extend all possible support to foreign investors.Mr. Richards, expressed his company’s commitment to invest 118 million US Dollars in the tourism and hospitality sector of Pakistan that will create 4000 job opportunities in the country. IHIG has already acquired 2 hotels in Shogran and Bhurban, to elevate the standards of this developing industry. Being the first company that has aligned itself with the Prime Minister of Pakistan’s vision, IHIG will be promoting tourism by facilitating the international tourists coming to Pakistan.On the occasion, Mr. Richards stated that; “I have spent half of my childhood in Pakistan. Over the recent years, the perception of this beautiful country has changed positively, among the global community. Therefore, an increasingly large number of tourists from all over the world are already expressing the desire to visit Pakistan, where they can explore the diversity of its pristine landscapes, ranging from the world’s highest mountains to scenic beaches on a long coastline, along with lush green fields, vast deserts and much more. The historic traditions of hospitality and the variety of sumptuous cuisines also provides many unforgettable experiences. The Government’s new policy of granting E-Visas for 175 countries, is a brilliant initiative that promises great convenience for international tourists”.He further stated that; “Pakistan is the only country in the world which attracts all segments of tourism, to see the mesmerizing beauty of Northern areas, especially the Kaghan valley that offers a multitude of exciting attractions and scenery for the domestic and international tourists, with its beautiful weather conditions throughout the year. A soft image of Pakistan is being recognized by the whole world now, so we are ready to invest on building its potential by capitalizing on the tourist-friendly gestures and strong goodwill of the new government.

About IHIG:
International Hospitality Investment Group is Pakistan’s first ever vacation ownership company head quartered in London. IHIG was founded by team of hospitality experts, primarily involved development and marketing of highly desired vacation destinations of Pakistan.

 

Google launches Datally, an app that saves you data

The Google Team, Department Next Billion Users.jpegBrand new app Datally helps Pakistani Android users understand and control their mobile data to get the most of their data plans

Karachi(CliffNews) — Today Google announced Datally, a smart and simple Android app that helps smartphone users understand, control, and save mobile data. Datally works on all smartphones running Android 5.0 (Lollipop) and higher, and is available today on the Google Play Store globally. Datally helps solve one of the biggest pain points for smartphone users around the world — worries about data usage. Google found during extensive user research around the world that many smartphone users worry about running out of data. This is an especially acute problem for the newest generation to come online, known as the “Next Billion Users.” Not only are these smartphone users constantly thinking about data balances, but they do not understand where their data is going, nor do they feel in control over allocating data to the apps they really care about.

Datally empowers users to solve these problems with four key features:

Data Saver. Apps frequently use data in the background for updating content and information. Datally’s Data Saverfeature lets users control data on an app-by-app basis, so that data only goes to apps they care about. People testing the app saved up to 30% of mobile data, depending on the way they used Datally.

Data Saver bubble. Once Data Saver is turned on, Datally’s Data Saver bubble will appear when a user goes into an app that is allowed to use data. Whenever that app uses data, the Data Saver bubble will show the current rate of data usage, and users can easily choose to block that app’s data use if things start to get out of control. The Data Saver bubble is like a speedometer for mobile data.

Personalized alerts. Datally alerts users when apps start consuming a lot of data, and it allows them to see how much data they’ve used on a daily, weekly, and monthly basis.

Wi-Fi finder. There are also times when users want to use more data than they have on their mobile plans, such as when they want to watch HD videos. Public Wi-Fi is an important access point for high-bandwidth connectivity, so Datally’s Find Wi-Fi feature reveals the networks nearby, rated by the Datally community. Once connected, users can rate the Wi-Fi networks themselves based on their own experience.

 

About Google

Google’s mission is to organize the world’s information and make it universally accessible and useful. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Chrome and YouTube, Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world. Google is a subsidiary of Alphabet Inc.

 

Powering Iraq from North to South: Ministry of Electricity and GE Sign $400 Million Contract to Build 14 Electric Substations

Infographic_English_GS Iraq

  • Agreement marks strategic mega deal contract to develop electric substations in Iraq and will help address shortages in power supply across the governorates of Ninawa, Salah Al Din, Al Anbar, Karbala, Baghdad, Qadisiyyah and Basra
  • GE will support the Ministry of Electricity in securing financing for the project  

Baghdad(CliffNews) The Iraqi Ministry of Electricity (MoE) has signed an agreement worth over $400 million with GE Power (NYSE: GE) to develop 14 electric substations on a turnkey basis and supply critical equipment such as transformers, circuit breakers and other outdoor equipment to rehabilitate existing substations and bring much-needed power to areas facing significant electricity shortages across the country. The project represents a strategic milestone for GE to develop electric substations in Iraq, and will also see the Company support the MoE to secure funding through various financial institutions, including export credit agencies and commercial banks. Mussab al-Mudaris, spokesperson of the Iraqi Ministry of Electricity said, “The agreement represents a major milestone in our efforts to strengthen Iraq’s power transmission sector, through a comprehensive grid project across the nation. Our focus remains on providing our people with the most reliable and advanced technology to meet their daily needs, and to accomplish this we need strong partners in this journey of development and reconstruction. GE has the technology, global capabilities and local presence to ensure the successful and sustainable execution of the project.” GE will develop the substations to connect power plants spread across the governorates of Ninawa, Salah Al Din, Al Anbar, Karbala, Baghdad, Qadisiyyah and Basra to the national grid. Several of the locations, in conflict-affected areas, are continuing to recover and are in immediate need of reliable power infrastructure. GE Power has previously provided power generation equipment for some of the power plants that the substations will be connected to, including the three gigawatt Basmaya Power Plant. The current agreement includes 4 substations critical to distributing power from the facility, which is also being equipped with eight of GE’s 9FA gas turbines, four GE C7 steam turbines and GE’s leading digital industrial applications. Mohammed Mohaisen, President and CEO of GE Power’s Grid Solutions business in the Middle East, North Africa and Turkey said, “A holistic approach to national infrastructure building is vital, from the provision of technical expertise to working with partners, such as Export Credit Agencies, in securing long-term financial solutions. This agreement is a continuation of our firm commitment to driving industry and infrastructure forward in Iraq, working with the Ministry of Electricity in finding sustainable and effective solutions to some of the country’s most pressing issues.” The current agreement builds on GE’s significant legacy of contributions towards strengthening Iraq’s power sector. This includes establishing captive power plants to provide power for industrial use, converting power plants from simple cycle to combined cycle configuration, multi-year services to improve the reliability and efficiency of operations, upgrades solutions to increase the output and efficiency of the existing installed power generation asset base and the implementation of digital industrial solutions to monitor, analyze, enhance and predict equipment health. GE has three offices in the country – in Baghdad, Erbil and Basra – and the company continues to deliver advanced technology and expertise for the development of critical energy, healthcare and transportation infrastructure in the country. Today, GE-built technologies generate up to 50 percent of Iraq’s power and GE employs about 300 people in the country, more than 95 percent of whom are Iraqi nationals.

About GE: GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.

About GE Power:GE Power is a world energy leader that provides technology, solutions and services across the entire energy value chain from the point of generation to consumption. We are transforming the electricity industry by uniting all the resources and scale of the world’s first Digital Industrial company. Our customers operate in more than 150 countries, and together we power more than a third of the world to illuminate cities, build economies and connect the world.

Shell Pakistan holds technology seminar for consumers in faisalabad

Shell Pic_opt 1Karachi(Cliff News)Shell Pakistan in collaboration with Bari lubricants (Shell’s authorized distributors) organized a technology seminar for its consumers in Faisalabad. The objective of the event was to highlight technological advancements incorporated in Shell products, along with their associated benefits to its consumers.The seminar was attended by technical and commercial personnel from leading Industries based out of Faisalabad and its outskirts.The Shell lubricants’ leadership team discussed the value addition by Shell’s industrial lubricants in the manufacturing process and how these products have helped industries across the board in bringing efficiencies within their production processes, by emphasizing the importance of total cost of ownership.Commenting on the occasion, Business Manager Shell Lubricants, Haroon Rashid said, “At Shell, we believe our wide range of lubricants will play a significant role in bringing efficiencies and nurturing the manufacturing process for all scale industries. Shell has been committed towards bringing in continuous improvements to its products in consideration of the growing and evolving needs of our consumers.The Shell representatives also highlighted Shell GE Jenbacher partnership, and how this alliance could pave the ways for local industries to leverage from it and enhance the product value chain even further.

S.M.Muneer Former CEO TDAP presenting crest to Ingolf Vogel Cultural Affairs Consulate of Germany

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Karachi:Mr. S.M. Muneer, Former CEO TDAP and Former President FPCCI is presenting crest to Mr. Ingolf Vogel, Consular Attaché Economic and Cultural Affairs Consulate General of the Federal Republic of Germany. Mr. Al Hajj Dhani Bukhsh Memon, Vice President FPCCI, Captain Tarana Saleem Chairperson FPCCI Standing Committee on Aviation and Mr. Shakeel Ahmed Dhingra also seen in the picture.