LATEST NEWS UPDATE:
Peshawar: Four killed in Budh Bair
PESHAWAR: Unknown gunmen killed four
persons after they ambushed a house in Gul Bagh area of Budh Bair Wednesday
morning, Geo News reported.
According to police, unidentified attackers entered a house
in Gul Bagh area of Budh Bair and sprayed bullets on the inmates.
As a result of indiscriminate firing, four persons died on
the spot. The bodies are being shifted to hospital while the identities of the
deceased could not be ascertained yet.
Police remained unsuccessful in apprehending the culprits
while the cause of the incident is still unknown.
Latest News in Brief:
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Peshawar: Four killed in Budh Bair
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SC to hear rental power case today
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Kamran Faisal death: FIR not
registered
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father
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Pakistan confident of Women Cricket
team's security in India
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Karachi: 17 die in insane bloodshed
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Indian demand to end UN mission in
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PM to be held if SC gives direct
order: NAB chief
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Drones violating Pakistans
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Confident Obama lays out battle plan
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Israel goes to polls, set to re-elect
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Two blasts, suicide attack kill 17 in
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Women take up self-defense, pepper
spray after India rape
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U.S. begins transporting French
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Bank of Japan makes boldest attempt
yet to lift economy
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Syrian rebels clash with Kurds in
northeast: activists
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Eritrea mutineers vanish as calm
returns
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China's Xi urges swatting of
lowly "flies" in fight on everyday graft
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U.N. nuclear agency says Iran talks
moved to February 13
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Algeria vows to fight Qaeda after 38
workers killed
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French troops take central Mali towns,
rebels slip away
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"Laughing" Chavez gives
orders from Cuba: Venezuelan minister
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Britain's Prince Harry says
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U.S. gives tribute to memory of Dr.
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Dutchman to head Eurogroup, wants to
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Merkel suffers setback months before
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India's Supreme Court
considers petition to transfer rape trial
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On Israel vote eve, Netanyahu fends
off surge to his right
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Confident Obama lays out battle plan
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Eurogroup bids farewell to mercurial
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Insight: Mystery Canadian coordinated
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Business News:
Reckitt Benckiser to invest $15m
KARACHI, Jan 22: Reckitt Benckiser (RB) will invest between $5 to
$15 million in Pakistan this year despite political uncertainty and law and
order issues.“We will focus our investment in manufacturing, expansion of factory, education programmes, communication and consumer coordination,” Salvatore Caizzone, RB’s Executive Vice President, RUMEA Area (Russia, CIS, Middle East and Africa), said in an exclusive interview with Dawn on Tuesday.
“We have no recruitment plan this year but there will definitely be suitable number of employment opportunities based on new initiatives,” he added.
Answering a question about setting up another manufacturing plant in Pakistan, he said, “There is no immediate plan. However, the company will invest in expansion of existing facility, wider distribution network and infrastructure in the country.”
The EVP declined to share the investment made by RB since 1951 saying cumulative figures were not readily available. While the company has already doubled its business in Pakistan in the last four years, he said that RB is further targeting double digit growth in the next two to three years in view of country’s huge potential in terms of market expansion as per its population. He added several new brands had already been launched in the last two years.
The company enjoys almost 10 per cent market share in soaps which has been growing significantly for the last two years, he said.
RB Pakistan is also exporting 15 per cent of its total volume of production to the Middle East, Far East (Philippines, Thailand, Malaysia), Africa (Sub Sahara Africa and South Africa), European Union, Australia and Latin America. However, he did not give the figure of export earnings.
When asked about any negative impact on investment plans in view of deteriorating law and order situation and political uncertainty, Salvatore said: “These situations are not going to scare us as we are taking practical steps like manufacturing, exporting, hiring people etc. I am not scared as I have been coming here for the last 10-15 years.”
He said he does not deny that certain issues like lawlessness exist in Karachi. “I believe in principle that wherever I have people I have to be there,” he said adding he is not scared to travel to Pakistan as he has also been to Nigeria, Lebanon, Kazakhstan etc.
Comparing products prices in Pakistan and India, he said, “I do not believe that products in Pakistan are costlier than India as in many cases our local prices are lower than India.” However, he said the devaluation of the rupee against the dollar is making a negative impact by pushing up cost of production due to costlier import of raw material.
RB contributes over Rs1.7 billion to the national kitty in the form of various taxes and duties. It has one factory in Site Karachi and four offices providing employment to around 5,000 families (1,000 people directly and 4,000 indirectly).
“Pakistan is the sixth largest nation, a population that is very young, growing and a middle class that’s is boldly and visibly emerging and has more money today than it did five years ago. Most importantly, my experience of dealing with Pakistanis is that this nation is resilient and always fights back. Hence Pakistan remains a very important market for RB,” Salvatore summed up.
Pakistan
EXCHANGE FOR CURRENCY NOTES:
U.S.A 98.58
S.Arabia 26.29
U.K 156.24
Japan 1.0965
Euro 131.56
U.A.E 26.84
BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct) Rs54,042
Silver Tezabi Rs972.85
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