DG Khan Cement plans expansion drive in country

With energy shortage being one of the biggest challenges besetting the industrial units in the country, DG Khan Cement has installed a waste heat recovery plant. PHOTO: FILE

LAHORE: DG Khan Cement Company is planning to expand its footprints in Pakistan and is also looking for a joint venture in Africa.

“The company’s strategy is to stabilise and enhance its profitability, yet not neglect the social responsibility aspects,” said DG Khan Cement Chief Financial Officer and Director Inyatullah Niazi.

He was speaking during a visit of the company’s senior management to the Lahore Stock Exchange to participate in a corporate briefing programme on Thursday. They explained and highlighted financial performance of the company to participants of the programme.

With energy shortage being one of the biggest challenges besetting the industrial units in the country, DG Khan Cement has installed a waste heat recovery plant and undertaken an alternative fuel project, resulting in savings for the company.

Speaking to the participants, Niazi said the company had started two projects under the names of Lahore Green and Multan Green. Through these projects, the company will procure waste from the local government body and process it for use as a replacement of imported coal. He expressed the hope that these projects would boost savings of the company.

LSE Manager Corporate Communications Maryam Baqir stated that the purpose of the corporate briefing was to provide an opportunity to the companies to update investors and brokers on their operational, financial and strategic positioning.

She believed that periodical communications through corporate briefing programmes would enable the companies to create a strong investor following, besides providing investors with an opportunity to gain first-hand knowledge from a company’s management.

“LSE considers it essential for the companies to participate in such programmes so that there is no information asymmetry regarding our listed companies,” she said.

These programmes are aimed at bridging the gap between listed companies and investors, enhance investor’s understanding of financial statements, a company’s short-term and long-term projects.

In this way, investors can better understand economic and financial affairs of a company, which might affect the share price and impact investments as well as investment decisions.

Relentless Vettel seeking third win in Abu Dhabi

Vettel won the Abu Dhabi Grand Prix from second in 2009 and from pole in 2010. PHOTO: AFP

LONDON: Newly-crowned quadruple world champion Sebastian Vettel should be forgiven this weekend if he appears reluctant to grab pole position at the Abu Dhabi Grand Prix.

The relentless 26-yearold German, who won last Sunday’s Indian Grand Prix to secure his fourth drivers’ crown in succession and confirm his Red Bull team’s fourth constructors’ title, will not have over-celebrated.

As a keen, but shrewd, student of his sport’s history, he will know not only that he has joined an exclusive hall of fame – as one of only four men to have taken four titles – but also that the prime starting spot at the Yas Marina Circuit is something of a poisoned chalice.

In the four previous Abu Dhabi Grand Prix, the pole sitter has experienced serious problems three times and failed to finish the race — hardly an auspicious sign that it is essential to success in the season’s only ‘twilight’ race.

The only driver to have taken pole and not only finished, but won in Abu Dhabi, however, was Vettel on the evening when he secured his maiden title in November, 2010, an achievement that initiated some wild scenes of celebration.

In 2009’s inaugural race, defending champion Briton Lewis Hamilton retired with a brake problem. In 2012, also with McLaren, he lost fuel pressure.

In 2011, Vettel took pole, but suffered a first corner puncture. If this suggests that the winner can come from anywhere, it would be untrue since only one victor – Finn Kimi Raikkonen for Lotus last year – started from behind the front row, a fact that makes second on the grid such a promising position.

Vettel will thus be seeking a third Abu Dhabi success to extend his remarkable run of six straight wins to a magnificent seven.

However, Hamilton warned that he will remain as committed to winning as ever despite Red Bull’s double success.

“With three races left, we are still pushing and there is a lot that our team can achieve,” said Hamilton.

For Hamilton and Mercedes, that means staying ahead of Ferrari and Lotus in the teams’ title race while strugglers Marussia and Caterham battle to avoid finishing outside the top ten.

Renewable energy: Project managers asked to seek insurance cover

Benefits of insurance include wrap-around protection, control of placement and maintenance of insurance, avoiding gaps and duplication. CREATIVE COMMONS

KARACHI: 

Speakers at a seminar on Thursday urged managers of renewable energy projects to involve insurance professionals at an early stage of the due diligence process in order to avoid unforeseen losses at a later phase.

Taking part in the one-day seminar on “Renewable Energy: Risk Management and Insurance Solutions” organised by the Karachi Insurance Institute, the speakers highlighted key challenges associated with managing risks in the field of renewable energy.

“The role of insurers is paramount in the development of renewable energy. Insurers can provide project lenders with a seamless cradle-to-grave, principal/owner-controlled insurance programme,” said Mohammed Asif Arif, who serves as commissioner of insurance at the Securities and Exchange Commission of Pakistan (SECP), while addressing the audience.

He said such programmes include construction insurance, marine insurance, including delay in start-up/advanced loss of profits and third-party risk.

“Many project lenders are reluctant to sponsor projects, which are unlikely to have cradle-to-grave cover,” he observed.

Some of the tangible benefits of the principal/owner-controlled insurance programmes are wrap-around protection for the benefit of all interested parties, control of placement and maintenance of insurance, protection across all phases of the project, avoiding gaps and duplication in cover and minimisation of administrative workloads, according to the SECP’s insurance commissioner.

Moreover, Arif noted, avoiding delays caused by claims dispute, overall claims control, centralised risk management, elimination of insurance cost duplication and insurance coverage on loan agreement also constitute the principal/owner-controlled insurance programmes.

“International reinsurers such as Munich Re and Swiss Re are actively involved and supporting renewable energy projects by offering innovative insurance and risk transfer solutions, thus facilitating the investment, development and propagation of renewable energy sources,” Arif said.

Delivering a joint presentation on underwriting and engineering assessment of wind farms and solar plants, insurance professionals Alessandro Cerase and Mark N Quinn asked project managers to get those underwriters on board who are able to spread the risk and have some relevant past experience.

Listing the risks involved in underwriting renewable energy projects, they said political, catastrophic, technological, operational, regulatory, financial and product-related risks must be taken into consideration.

“If the underwriter doesn’t understand the risk, then he should not insure it,” Quinn said.

Bale delighted with ‘great night’

Bale put the hosts 2-0 up within half an hour in his first start at the Santiago Bernabeu. PHOTO: AFP

MADRID: Gareth Bale believes he is approaching his best form after scoring twice and providing two more goals as Real Madrid thrashed Sevilla 7-3.

Bale was making his first start at the Santiago Bernabeu and soon had his first home goal when he thumped in the opener on 13 minutes.

He then had a slice of luck 14 minutes later as his free-kick deflected in off Alberto Moreno for Real’s second.

Cristiano Ronaldo then went onto score a hat-trick and Karim Benzema twice, with Bale setting up a goal apiece for his strike partners as the 24-year-old completed the 90 minutes for the first time since joining the club last month.

“I felt good and completed the full game,” Bale told Real Madrid TV. “After not having a normal pre-season it is important to pick up rhythm to be able to give my best.

“It was a great night. Obviously I needed time to improve physically, but I am very happy to have played the 90 minutes. That is very important for my fitness.

“Now I need to keep improving and working hard to be at 100% as soon as possible.”

Victory moved Real back to within six points of Barcelona at the top of La Liga.

Bale’s performance was lauded by his coach Carlo Ancelotti, who believes his new star showed what he was truly capable of for the first time in a Madrid shirt.

“Tonight everyone saw the real Gareth,” he said. “He played really well, showing fantastic skills.”

Snowden willing to testify before US Congress: German MP

Snowden is also ready to talk in Russia to German prosecutors investigating US espionage practices, his lawyer said on Friday. PHOTO: REUTERS/FILE

BERLIN: A German lawmaker who met US intelligence leaker Edward Snowden said Friday the fugitive had told him he would be ready to testify to the US Congress to shed light on “possibly serious offences”.

“Mr Snowden didn’t appear to me as anti-American or an enemy of America or some such,” Hans-Christian Stroebele, an opposition Greens party deputy told reporters.

“Quite the opposite,” he added, a day after a surprise meeting with Snowden in Moscow over his allegation that Washington tapped Chancellor Angela Merkel’s phone for years.

“He has always emphasised, also to my question whether he is ready to give information before the German parliament in Germany… that first he would prefer to present the facts in front of the US Congress, before a committee of the US Congress and explain,” Stroebele said.

“He sees his message in the US as not only shedding light on undesirable developments but possibly serious offences and says he can do that, he’s in the position to,” he added.

Snowden is also ready to talk in Russia to German prosecutors investigating US espionage practices, his lawyer said on Friday.

Washington has revoked Snowden’s passport and demanded his extradition to face criminal charges in the United States for leaking top-secret documents about the National Security Agency’s activities.

40 things that Pakistani men hate to hear

*On the second date* umm some people are coming over tomorrow for my rishta, so I thought I should just let you know.

1. We need to talk
2. Do I look fat?
3. Umm there’s this new store at the mall…
4. I’m not hungry hungry, but I’ll share your garlic mayo fries.
5. Why do you have to hang out with Fahad so much? Is he your boyfriend?
6. Oh never mind, Yasir is just a friend. But I don’t get a good vibe from Ramsha so you better not talk to her.
7. I’m not one of those girls.
8. You’re just like a brother to me.
9. *On the second date* some people are coming over tomorrow for my rishta, so I thought I should just let you know.
10. If I ask you something, would you be honest?
11. OMG! The dreadlocks on that guy look so YUM.
12. So this one time, my ex and I went to…
13. Can’t believe how you can spend this much on a pair of jeans! Don’t look at my footwear collection, I’m classy – I have to!
14. I am an independent woman but you should pay for the meal. I’m old fashioned.
15. Where is my exclusive time in your given day? You treat me like a filler.
16. Who is she?
17. You’ve changed so much. You’re not the same person anymore.
18. Why do you still watch cartoons? Grow up.
19. Go away, leave me alone… How dare you walk out on me?
20. You’re always too busy to even think about me.
21. Fine.
22. You’re so thin. Why don’t you go to the gym?
23. You’re such a mama’s boy.
24. Let’s watch some TV. New Girl or Pretty Little Liars?
25. Why do you always want to control me? It’s suffocating. Give me some space to breathe.
26. I knew it!
27. Are you sure?
28. I don’t believe you.
29. I didn’t mean anything I said. I was just PMS-ing.
30. You know I’m still mad at you for what you said to me at Sarah’s wedding in 2004.
31. … But we can be friends.
32. You know you’d save a lot of money if you don’t smoke.
33. Mom is coming over for the weekend.
34. Can you look after the kids; I just have to go to the tailor for “five minutes”.
35. When I say chocolates, it means dark chocolate. You’re so useless.
36. Wait wait stop the car!! I need to Instagram that.
37. Why can’t we go there? All of my friends have been there already. Even Bushra.
38. Why do you have to watch match highlights when you already know who won? Please switch toHum TV. I wanna watch the rerun of Kadurat.
39. Are you even listening to me?
40. WHATEVER.

Pakistan trounce South Africa by 66 runs

Pakistani bowler Shahid Afridi (C) celebrates with team-mates after taking South African cricketer Faf du Plessis (unseen) out for Leg Before Wicket during the second day-night international against South Africa in Dubai Cricket Stadium in Dubai on November 1, 2013. PHOTO: AFP

DUBAI: Pakistan won the second One Day International (ODI) by 66 runs to level the five match series by 1-1.

Shahid Afridi and Muhammad Irfan were pick of the bowlers as both took three wickets each. Saeed Ajmal claimed two wickets.

Ryan McLaren was the highest South African run scorer and remained not out on 29.

Earlier, Pakistan were bowled out for 209 in the the second match of the five match One Day International series against South Africa, setting the Proteas a 210 run target to chase in the Dubai night.

However, it was not all smooth sailing for Pakistan who were coasting a 112 for two at one point after Ahmed Shehzad had struck 58 runs (85 balls).

While Umer Amin and Umar Akmal attempted to steady the ship, both were dismissed close together to leave Pakistan reeling at 148 for six, exposing the Pakistani tail.

However, the tailenders managed to pull Pakistan over 200 with cameos from Shahid Afridi (26 off 20 balls) and Wahab Riaz (18 off 24 balls).

For South Africa, Ryan Mclaren and Morne Morkel were the pick of the bowlers, claiming four and three wickets respectively. Spinner Imran Tahir, who has been the main bogeyman for Pakistan in the Test and the ODI series so far, managed to pick only one wicket though in his 10 overs he conceded only 28 runs.

Earlier, Pakistan had won the toss and opted to bat.

In the first match of the five-match series, Pakistan was defeated by South Africa, giving the latter a 1-0 lead on October 30 in Sharjah. South Africa had won by one run, finishing at a score of 183.

Pakistan

Nasir Jamshed, Ahmed Shehzad, Mohammad Hafeez, Misbahul Haq (c), Umar Amin, Umar Akmal, Shahid Afridi, Sohail Tanvir, Wahab Riaz, Saeed Ajmal, Mohammad Irfan

South Africa

Graeme Smith, Quinton de Kock, JP Duminy, Faf du Plessis, AB de Villiers (c), David Miller, Ryan McLaren, Wayne Parnell, Morne Morkel, Lonwabo Tsotsobe, Imran Tahir