Talk of the day: September 12, 2008
September 13, 2008
The Chairman of Pakistan Telecommunication Authority, Dr. Muhammad Yaseen, in a -press conference, declared that Telecom Sector has witnessed a decline in Foreign Direct Investment this year. The Chairman explained that the FDI was 27% at the end of the fiscal year 2007-08 and now, the FDI is 21%. The total FDI, during the past five years, in telecom sector has remained to 5$billions until now. [Read more]
Netsol’s shares trading on DIFX starts: Najeeb Ghauri
June 22, 2008
The worldwide provider of global business services and enterprise application solutions, Netsol, has started trading of its dual-listed common shares on the Dubai International Financial Exchange (DIFX).
NetSol will trade on the DIFX under the symbol “NTWK”, complementing the company’s current listing on the Nasdaq Capital Market. Obviously great news, in fact, feel-good news worth millions, for the company that has its roots in Pakistan. It obviously also pinches a little to read in the news of NetSol being referred to as a “US company” but then, that’s a topic for a whole different article right there.
In a press release issued by the company’s PR, Najeeb Ghauri, Chairman and Chief Executive Officer of NetSol Technologies, writes, “Our dual listing on the DIFX, the first by a US company, represents an important milestone in our corporate history and supports NetSol’s strategic mission to further expand our brand visibility and investor base in the United Arab Emirates (UAE) and the broader Middle East region.”
Week In Review: Week ending on Saturday, the 24th of May, 2008
May 28, 2008
The week ending on Saturday, 24th of May, 2008 has actively benefited IT market of Pakistan. It comprises of a little bit of everything- Telecom, investments, latest technologies, packages, events and conferences.
NetSol Technologies organized a training workshop on Information Security in
Microsoft, NetSol sign enterprise agreement
May 7, 2008
LAHORE (May 01 2008): The Microsoft and NetSol Technologies Ltd have signed an enterprise agreement under which, the later will get the Microsoft Desktop and Server Platform tools with Core Infrastructure and Developer tools. Developer tools significantly improve data handling ways, enables developers to share the data through process integration and reduce development time. [Read more]
The Week in Review: Week ending on the 4th of May, 2008
May 4, 2008
This week was equal for both Computers and Telecom departments. New promises, global conferences and steps for better communication as well as civil services, this week got all of them.
KalSoft has recently computerized several civil services and provided E-Services for the Chief Commissioner and Deputy Commissioner’s offices. These services have been digitized to provide civilian with a better working system, having the features to post complain online and follow the status as well. In addition, with the help of E-Services, government officials will be able to communicate on a same network and see the progress of civilians’ complains and related issues.
The most exciting news for the 3d game players and graphics editors is the launch of Apple Computers in Pakistan. Apple Computers partnered with Raffles System and this is a big wave is being expected in computer market with the launch of Apple Computers, as they are very good with accelerated graphics and processing- Very nice for the video and image editors.
In the first of May, NetSol Technologies announced that their annual income of the fiscal year 2007-08 has improved by 62.3 percent to Rs 154 millions as compared to Rs 94 million of the last year. Additionally, NetSol Technologies have signed an enterprise agreement under with Core Infrastructure and Developer tool. Developer tool improves the process of data sharing and reduces development time. With the help of these tools, NetSol will enhance its infrastructure and the performance for computerization.
NetSol has also won 8th Teradata National IT Awards for its brilliant performance in the field of software exports for the year 2006. The delegates of an Australian investment company, Progressive International Pvt Ltd, met Qamar Zaman Khan, Federal Minister fore IT and Telecommunications, to discuss plans for Export Processing Zone Authority (EPZA) Tech Tower. The meeting took place on April 29, 2008. Recently, EZPA has announced the establishment of Tech Tower in Landhi, Karachi. The area of the Tower comprises of six acres and the estimated cost of the whole projects is round about $100 million.
The biggest IT event this week had been the TeleCON 2008 Pakistan. A Global Telecommunication Congress took place at Sheraton Hotel, Karachi on April 29, 2008. The event was scheduled on a two-day program. Shamrock Communication (PVT Ltd) organized the event, which concluded almost all the big leaders of IT and Telecom industry and more than two hundred attendees. This Global conference was brought into existence with sponsors of Mobilink, Ptcl, Motorola, MultiNet and Nokia Siemens Network
IBM launched latest version of UNIX systems being world’s fastest UNIX SERVER and Water-cooled supercomputer. These systems are designed for faster speed optimizing and reducing in-service costs.
While, Microsoft signed an agreement with Service Sales Corporation, which is Pakistan’s largest footwear company at Lahore.
Ufone has launched a new a new program in collaboration with the School of Leadership (SoL) and they have named it as UExcel. This new program is designed for the undergraduate students and Ufone along with SoL has already started the campaigns.
The purpose of this collaborated program is to create awareness in young generation, which could provide them with better knowledge of industry and careers as well as their interests and capabilities. This will make it easier for the students to choose their own kind of field where they can make a difference.
Ufone and SoL’s special teams will visit eighteen different universities and college in Islamabad, Lahore and Karachi. These teams have already visited universities of Karachi including, Institute of Business Administration (IBA), Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST), Iqra University, PAF-KIET, University of Karachi and NED University of Engineering and Technology.
PTCL had decided to cut the local call’s minimum unit from five minutes to two but the telecommunication Sub-committee of Karachi Chamber of Commerce and Industry has strictly denied the proposal and suggested that local calls must be free of charge.
PTA cancelled the registration of eight mobile phone franchises for illegal sale of SIM cards and directed six of them to be sealed immediately. PTA had already issued a warning that mobile phone companies will be charged with fine and serious steps will be taken against them if they fail to deactivate illegal SIMs. Recently, PTA has just cancelled the registration of
According to PTA, There are three franchises of Mobilink, two of Warid and CMPak, and one each of Telenor and Ufone were found violating the government Policy on sale of new SIMs, issued to all Mobile Companies.
Shaukat Khanum Memorial Cancer Hospital & Research Center Appraised at CMMI Level 2
March 18, 2008
Shaukat Khanum Memorial Cancer Hospital & Research Center (SKMCH&RC), Lahore, one of Pakistan most forward looking Healthcare organizations in Pakistan has been successfully appraised and recommended at CMMI Maturity Level 2.
NetSol Consulting Services bags the pride for supporting SKMCH&RC in
achieving this milestone of CMMI Maturity Level 2. SKMCH&RC, which today stands as an icon around the globe seeks no introduction at all due to its extremely noble way of function. [Read more]
124 percent rise in NetSol profit
February 15, 2008
LAHORE (February 13 2008): The NetSol Technologies Ltd Pakistan (NetSol PK) has registered an increase of 124 percent in its net profit, while its revenue went up by 58 percent during first half of the financial year 2007-08.
NetSol announced on Monday its financial results of the first half of 2007-08 ending December 31, 2007 according to which the gross profit rose by 82 percent and its earning remained Rs 6.01 per share during the period under review. A stellar growth of the company continued in first half of 2007-08 and registered remarkable growth during the period. [Read more]
NetSol enters Middle East market
February 1, 2008
NetSol Technologies Limited Chairman and Executive Chief Officer Salim Ghauri has said his company is planning to write another success story in the Middle East after the region of Asia where LeaseSoft has become a symbol of accuracy, quality and security.
“We already have a very strong presence in the Asia Pacific region, and would like to have a strong position in the Middle East as well,” he said. “The Middle East is big as well as rich market and NetSol foresees great opportunities there, he said. After winning the confidence of leasing and finance industry in the Asia Pacific region, NetSol Technologies Ltd, a multinational provider of IT services and enterprise software to the financial services industry, has now marked another success story in the Middle East market. [Read more]
NetSol announces results for first quarter
November 1, 2007
LAHORE (November 01 2007): NetSol Technologies Limited, Pakistan (NetSol PK) a significant part of the division serving the Asia Pacific region (APAC) on behalf of NetSol Technologies Inc, here on Wednesday announced financial results for the first quarter of fiscal year 2007-08 ending September 30, 2007.
The company according to its First Quarter FY 2007-08 Financial results has announced Earnings Per Share (EPS) trends upward to Rs 4.38 per share. The company according to its announcement has achieved 110 percent increase in revenues over first quarter FY 2006-07.
Another good result by the company remains 171 percent increase in gross profit over first quarter FY 2006-07; 340 percent increase in net profit margin over first quarter of FY 2006-07 including dividend income from subsidiary.
The company in its results has further announced 215 percent increase in net profit margin over first quarter
NetSol revenue crosses Rs 1 billion mark
October 17, 2007
LAHORE (October 17 2007): NetSol Technologies Limited Chairman Salim Ghauri told Business Recorder that information on the growth of Pakistan’s IT sector was now travelling rapidly that not only made customers realise our potential but also international companies started watching Pakistan as a serious destination for their mission critical projects.
He said the year of 2007, like the preceding one, again registered a robust growth in the IT sector in Pakistan gaining momentum gradually to compete internationally. He said Pakistan’s IT sector was highly competitive but problems could emerge if we failed to manage our resources efficiently.
“We need constant supply of good quality resources and a gradual growth in it, as if we failed to do so Pakistan’s IT sector would lose its edge over competitors that would be counterproductive both for the industry and Pakistan’, he added.
The sector’s exponential growth has turned Pakistan into a decisive destination for many mission critical projects. Majority of the local IT companies have reached to the requisite maturity level and the buyers’ confidence is strengthening fast with every passing day,” he said.
He also said, “Pakistan, today, is one of the few countries in the world where good number of IT companies are certified as Capability Maturity Model (CMM) and Capability Maturity Model Integration (CMMI) Level companies.
There are five levels of CMMI maturity. A “5″ rating is the highest. The rating is the key because higher maturity levels signify lower risks to successful programme execution. He said that NetSol Technologies Limited has become first IT company that achieved CMMI level 5 in August 2006.
Since then, NetSol has grown by leaps and bound and it is taken as a serious contender for mission critical projects worldwide. Its revenue has crossed Rs 1 billion mark in financial year 2007.” Ghauri said the Pakistan Software Export Board (PSEB) was investing wisely to assist IT companies in certifications, including CMM and CMMI levels. “It has allocated sufficient budgets for this purpose and its efforts would start showing results in next three years.
The IT sector has also responded positively to the Ministry of Information Technology and PSEB’s efforts. A substantial number of small and medium level IT companies have emerged on the IT scene of Pakistan during the last few years,” he added.
With the improvement of entrepreneurial skills and entry of fresh workforce was being translated in software exports of Pakistan exponentially every fiscal year. He said recent “bearing point study” places Pakistan’s global IT export revenue in the Financial Year 2004-2005 at $400 million.
The basis of the figure was the State Bank of Pakistan’s IT export revenue figures of just under $50 million. Bearing point multiplied this figure by two to account for the IT export revenue brought into the country, but not registered as such with the State Bank.
The global IT revenue of Pakistani IT companies therefore added up last year to $400 million. Therefore, for official IT export figures of just under $75 million reported by the SBP for FY 2005, the actual global receipts of Pakistani IT firms should be around US $600 million, he said. About the size of IT industry in Pakistan, he said it had increased manifold and besides Karachi, the commercial and IT hub of Pakistan, a good number of IT companies are operating now in Lahore, Islamabad and a few in other major cities of the country. Out of 1056 IT companies, over 100 companies are ISO-certified and the industry’s total size, in terms of volume, has crossed the mark of US $2 billion and its exports are near to touch US $100 million.
The workforce involved in this sector has crossed the 100,000 mark and an impressive number of foreign qualified youngsters are aggressively returning Pakistan to tap the potential of the sector, he added.
Appreciating government cooperation, he said it was a source of great satisfaction that Pakistan government has become very aggressive on technology front and many of the public sector departments have strongly realised the benefits of automation of their procedures.
Thus, the IT companies have become very busy on a number of local projects besides catering for the demands of their foreign customers.