ISLAMABAD: Inflation surged by 11.4 per cent year-on-year in September from, reported the Pakistan Bureau of Statistics (PBS) on Wednesday.
Inflation, measured through the Consumer Price Index (CPI), edged up by 0.77pc over the previous month after PBS revised its calculation methodology. Based on the new base year (2015-16), September inflation came in at 11.37pc, versus 10.49pc in the previous month.
The change in base year means the economy’s price levels in FY16 will now be the base against which all existing prices will be calculated for calculating the CPI.
Going by the old base year of FY08 that was being used until two months ago, the key inflation index comes in at 12.55pc for September, showing a 0.92pc increase over the month of August.
As per the new base year, lowest CPI was recorded in July at 8.4pc which grew to 11.37pc in September.
Aside from the rebasing, PBS has also changed the weights assigned to various consumption items in the goods basket, and introduced a new panel of prices to be obtained from urban and rural areas.
As per data, the urban CPI covers 35 cities and 356 consumer items while rural tracks 27 rural centres and 244 items. The former grew by 11.6pc year-on-year in September whereas the latter jumped by 11.1pc.
The International Monetary Fund has estimated that Pakistan’s inflation may escalate up to 13pc. However, the government’s estimate is around 11pc, which is already been crossed in the outgoing month.
The core inflation rate was 8.8pc in September according to the new methodology – up from 8.2pc. The central bank determines the key policy rate (which currently stands at 13.25pc) on the basis of the core inflation rate.
Further analysis show that the food inflation in urban areas rose by 15pc in September on a yearly basis and 2pc month-wise. In rural areas, food inflation rose 15pc on yearly and 1.8pc on monthly basis.
Similarly, non-food inflation in urban centres was recorded at 9.7pc year-on-year while in rural areas it was at 8pc.
In urban areas, the food items which saw their price levels go up included: chicken (40.75pc), tomatoes(37.47pc), onions (32.31pc), fresh vegetables(12.84pc), eggs (9.76pc), potatoes(6.21pc), cooking oil (4.68pc), vegetable ghee (4.18pc), motor fuel (3.88pc), sugar (3.78pc), daal masoor (2.54pc), mustard oil (1.75pc), pulse gram (1.44pc), wheat flour (1.29pc) and daal mash(1.01pc).
On the other hand, items that declined in urban were fresh fruits (15.64pc) and wheat (0.3pc).
In the rural areas, items that witnessed inflation increase included tomatoes (35.4pc), onions (28.49pc), chicken (26.56pc), potatoes (18.18pc), fresh vegetables (10.96pc), eggs (9.79pc), sugar (5.21pc), cooking oil (3.22pc), daal moong (2.81pc), vegetable ghee (2.51pc), daal mash (2.35pc) and milk powder (1.85pc).
Meanwhile, fresh fruits fell 20.6pc, Fish 2.8pc, beans 1.72pc and wheat 0.32pc.
Published in Dawn, October 3rd, 2019
The Search for the region’s best Videographers and Filmmakers has begun – Register NOW!
Dubai, United Arab Emirates, 16 September 2019, (AETOSWire): Nikon Middle East FZE is pleased to announce their very own Film Festival, Cinema Z, inviting all professional filmmakers and videography enthusiasts to participate and win of exciting prizes.
There are significant changes taking place in the movie making and video industry globally. Innovative approaches both technical and creative are changing and redefining the craft of film making and content creation. With the objective of strengthening their relationships with the Videography and Filmmaking Community in the region, the Nikon Film Festival offers an ideal platform for professionals, enthusiasts and students to showcase their creative video abilities and win exciting prizes. That’s not it, shortlisted winners of stage 1 will also stand a chance to screen their final work at a prestigious premier event in Dubai.
Registrations are now open on http://nikoncinemaz.me/
The Cinema Z Film Festival celebrates Nikon’s award-winning range of Z series mirrorless cameras that have been carefully crafted with intelligent design and ground-breaking technology to offer superior videomaking experiences to users. The Nikon Z7 is the first-ever FX-format mirrorless camera with high-megapixel of 45.7 and is equipped with state-of-the-art features with a focus point of 493 that covers 90 per cent of the image you see. It also comes with a new EXPEED 6 image-processing engine to capture clearer pictures and smoother videos. The Nikon Z6, comes in a modern compact body and provides enhanced high-sensitivity performance equipped with impeccable video features for full-frame video recording. The Z6 features 24.5 mega-pixels and will excel in a broad range of shooting scenarios, even in low light. Both cameras are quickly gaining ground in the videography space, with Professional and amateur filmmakers alike truly appreciating the camera’s wide array of movie functions, including full-pixel readout full-frame 4K UHD, Full HD 100/120p and 10-bit N-Log.
Both cameras boast of prestigious award wins, the Nikon Z6 won the Best Full Frame Camera Expert award given by Technical Image Press Association (EU) in 2019, and Z7 won Best Full Frame Professional Camera (2019) in the same event. Also, the NIKKOR Z 14-30mm f/4 S lens was awarded the Best Mirrorless Wide Angle Zoom Lens by TIPA. The instrumental upgrade, the Nikon Z mount system has won the prestigious Red Dot Award for Product Design in 2019. The entire Z series has been so elegantly designed to create flawless and memorable shots that will have clarity and finesse of their own.
Nikon is the world leader in digital imaging, precision optics and photo imaging technology and is globally recognised for setting new standards in product design and performance for its award-winning consumer and professional photographic equipment. Nikon Middle East FZE distributes consumer and professional digital SLR cameras, NIKKOR optics, Speedlights and system accessories; Nikon COOLPIX compact digital cameras; Nikon sports optics as well as the latest mirrorless cameras in over 50 countries. For more information, visit http://nikon-mea.com. Connect with Nikon and other photographers on Facebook at www.facebook.com/NikonMEA and on Instagram at www.instagram.com/NikonMEA.
Dubai, United Arab Emirates, September 17, 2019, (AETOSWire) – SNC-Lavalin announces that it has been awarded a general engineering, project management and technical support services contract from Al Yasat Petroleum, a joint venture between Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation (CNPC), with an estimated value of approximately $52 million CAD.
Under the three-year agreement, extendable for two years, SNC-Lavalin will partner with Al Yasat Petroleum extending the engineering and project support arm, in line with the Al Yasat Smart Growth Operating Model. The scope of work includes conceptual studies and design, front end engineering and design (FEED), execution planning, detailed engineering for small works and specialized studies. SNC-Lavalin will support Al Yasat in managing sub-contracts, procurement services and market surveys. As part of this agreement, SNC-Lavalin will also provide its digital expertise to help Al Yasat in the ambitious digital transformation plan using latest technologies. Project support includes project services and securing Al Yasat with manpower to be part of an integrated project management team.
“With over 50 years of presence in the Middle East, we have built a reputation for creating long-term value for leading international and national oil companies. This win underpins our successful track record and strategic approach to growing our business in engineering and consulting services,” said Craig Muir, President, Resources, SNC-Lavalin. “We are proud to support Al Yasat Petroleum on this project, and we will ensure it is efficiently delivered to the highest quality standards by combining our traditional engineering expertise with innovative solutions and digital technologies.”
Covering two concession areas in Abu Dhabi, United Arab Emirates, Al Yasat drives effective and efficient exploration and development of new areas, onshore and offshore. The onshore concession area is located to the Southwest of Abu Dhabi and measures 7800 km², the offshore concession area is located to the Northwest of Abu Dhabi and covers six fields with a total area of 582 km². The offshore area consists of fields at Bu Haseer, Belbazem, Umm Al Dholou, Umm Al Salsal, and Yaser.
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure. From offices around the world, SNC-Lavalin's employees think beyond engineering. Our teams provide comprehensive end-to-end project solutions – including capital investment, consulting, design, engineering, construction management, sustaining capital and operations and maintenance – to clients across the EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources businesses. www.snclavalin.com
A specialist in the management of sports-related knee injuries, Dr Herve Ouanezar uses a unique and advanced approach to anterior cruciate ligament surgery
Dubai, United Arab Emirates, September 17, 2019, (AETOSWire) - In line with the UAE’s aim of providing leading healthcare services, Consultant Orthopaedic Surgeon Dr Herve Ouanezar uses his expertise in knee surgery and sports medicine to treat athletes at Emirates Hospital Day Surgery and Medical Center, Motorcity and EMIRATES SPORTSMED – a leading sports and human performance clinic in Dubai.
In the past five years, there has been considerable progress in anterior cruciate ligament (ACL) reconstruction, and Emirates Hospital Day Surgery and Medical Center, Motorcity has integrated these advances into its care protocol.
For this passionate French Consultant Orthopaedic Surgeon, the prerequisite for successful surgery is a technique that preserves the patient's biology to the greatest possible extent and that best reproduces the biomechanics of the knee combined with a personalised multidisciplinary approach that takes the specifics of each case into consideration.
“Many people think that if their knee is affected, they will suffer for a long time, if not for the rest of their lives,” said Dr Ouanezar. “We want to improve patients’ overall care before, during and after surgery.”
Dr Ouanezar presented innovative clinical results based on his research at the International Congress for Joint Reconstruction Middle East 2019 and the 7th Emirates International Orthopaedic Congress in Dubai.
Native ACL Preservation and Meniscal Repair
Dr Ouanezar’s unique approach to reconstructing a torn ACL – the ligament that stabilises the knee in rotation – involves using an autograft by taking tissue from the patient's thigh or hamstrings. The torn native ACL, which would have been removed in the past, is now preserved to facilitate the new transplant’s biological integration by serving as a tutor.
The second advancement is the improved diagnosis and repair of unstable meniscal lesions known as meniscocapsular tears. This advancement allows for better preservation of the menisci, which act like shock absorbers and play a major role in stabilising the knee. Now patients can hope to delay the onset of early osteoarthritis.
Dr Ouanezar explained, “Two or three years ago, in two out of five patients, these lesions were not visible using an MRI or even during the surgical procedure”.
A ‘New’ Ligament
Dr Steven Claes, a Belgian surgeon, contributed to the third major evolution of this subspecialty in orthopaedic surgery by highlighting the existence of a ‘new’ knee ligament – the anterolateral ligament (ALL). Reconstructing this ligament at the same time as the ACL increases knee stability and protects the ACL graft.
“With ACL, this ligament plays an important role in the rotational stability of the knee. The rate of re-rupture of the ACL after surgery is usually 10%,” Dr Ouanezar explained. “Based on an analysis of 600 patients with a minimum of two years’ follow-up, the combined reconstruction of these two ligaments substantially reduces the rate of re-rupture.”
In the UAE today, athletes between 16 and 32 years of age are most likely to experience knee injuries. “Footballers are most likely to be affected, and those who play basketball, volleyball, squash and martial arts or do CrossFit,” said Dr Ouanezar.
Although age has long been an important criterion for operations – operations were not usually performed on patients aged 40-45 years – this is less likely to be the case today. “Except for cases involving a very degenerative knee with advanced osteoarthritis, there is no major contraindication to surgical treatment,” Dr Ouanezar explained.
Repair vs Reconstruction: Save the ACL
If ACL repair is possible, patients undergo a minimally invasive arthroscopic procedure that focuses on maintaining the patient's native tissue and avoiding the use of grafts. Shorter, less invasive and less painful than reconstruction, this procedure has fewer complications. The patient regains their range of motion more rapidly with minimal atrophy, dramatically reducing the recovery time.
“Surgery is not everything,” Dr Ouanezar emphasised. “We integrate the patient into a personalised rehabilitation program with physical trainers, sports physicians and physiotherapists. After using crutches for one month and adapted physiotherapy for three months, the patient can return to a pivoting sport after six to eight months. The post-surgery results are very promising; more than 90% of the patients report that they are satisfied and more than half are able to play their preferred sports at pre-injury levels.”
At Emirates Hospital Day Surgery and Medical Center, Motorcity, the length of stay is one day, with a significant reduction in post-operative pain thanks to the new compressive cryotherapy system.
Dubai, United Arab Emirates, 27 August 2019, (AETOSWire): Beyontec Solutions, an end-to-end technology solutions provider focused on the global Insurance industry, recently entered into a strategic partnership with Braxtone, a leading provider of recovery and professional services for insurance, to offer a comprehensive automated motor claims recovery solution for insurance companies in Bahrain and the United Arab Emirates.
Intra-company claims recovery has had a significant impact on the insurance business due to highly manual, people dependant, time-consuming and non-transparent recovery process adopted by insurers. This often led to missed opportunities for recovery with substantial implications on the insurer’s overall profitability. The Beyontec and Braxtone partnership is strategically aligned to address the claims recovery challenge faced by the industry and minimise missed recovery opportunities and reduce loss costs.
With more than two decades of industry experience and working closely with regional customers, Beyontec was quick to understand the limitations and pain points in the current recovery process. The company invested early and did exhaustive research and extensive consultations with regional insurers and industry bodies for more than five years, before designing and developing the best-in-class automated recovery portal solution. “The claims recovery portal is designed to help insurers review and process recoveries in real-time and make the process more transparent, faster and efficient” said Mr. Vivek Sethia, Director and Co-founder of Beyontec Solutions DMCC. “Our strategic partnership with Braxtone will enable insurers in UAE and Bahrain to adopt this revolutionary, industry-first recovery solution and protect their cash flows” he added.
Speaking about the partnership, Mr. Ayman Al-Ajmi, Chief Executive Officer, Braxtone said “We have a proven track record in managing professional services across claims recovery and collection services for insurance and reinsurance. This partnership with Beyontec complements our capabilities and service quality, and together we are confident of resolving the industry-wide claims recovery challenges. We bring insurance expertise hand-in-hand with unique service delivery that basically sells itself. We have seen success in Bahrain and UAE where companies put their trust in Braxtone to manage their claims and portfolios”.
The combination of Beyontec’s technical capabilities and Braxtone’s deep client understanding and expertise in insurance, regulatory environments and business processes are uniquely positioned to deliver a reliable, cost-effective and easy-to-use solution for full visibility and higher process efficiency in claims recovery. Braxtone will also assist Beyontec in localization and further enhancements of the solution. The ready-to-start solution is made for the Middle East market and can be integrated with any core system without making any change to current systems.
About Beyontec Solutions
Beyontec Solutions is a global insurance solution provider, addressing all aspects of insurance business including general insurance, Takaful, life insurance, medical insurance and insurance broking. The diverse insurance experience and knowledge has enabled Beyontec to create solutions that incorporate the world’s best insurance practices. Supported by experienced insurance professionals and support centres, they provide the best service and support to global insurance companies.
Established in 2017 as an independently owned firm, Braxtone specializes in providing professional services to prospective insurance and reinsurance firms, including, run-off management, claims management, credit control, receivables management, operational support and consulting. We have gained a reputation as the go-to expert for any insurance service or outsourcing need. Our clients benefit from the combination of skills hosted by the team at the leading-edge insurance operation and management, niche industry expertise and deep understanding of local issues and challenges.
Dubai, United Arab Emirates, 26 August 2019, (AETOSWire): Digital Venture has signed an agreement with Amadeus, a global technology provider for the travel industry, to become the exclusive distributor for its innovative and unique media solutions inventory for Amadeus travel itinerary documents and CheckMyTrip for all advertising demands in the GCC, Levant, Egypt & Italy regions.
Digital Venture will, work directly with advertisers and agencies in the regions. Through these Amadeus media solutions products, Digital Venture will provide its clients with direct access to engage with global confirmed passengers before, during and after their trip experience, with points of sale in the exclusive regions.
Amadeus’ media solutions advertising products are travel documents issued by travel agencies and “CheckMyTrip” mobile app, which help brands with specialized targeting criteria to deliver personalized offers to booked travelers. These criteria include language, booking class, business category, origin, destination, connection, connection duration, trip duration, booking dates, class of service, trip elements booked, trip companion, affluence, gender, trip purpose and many more.
Commenting on this strategic alliance, Digital Venture CEO, Sami Hamade said, “Travelers are attentive and receptive to their trip context. Interaction at these key stages increases brand recall. Offer relevant content at the time and place when the audience demands it. We are very excited about this partnership and look forward to having partners join us in creating success stories”
Sol Freixa, Global Director for Travel Advertising Sales & Marketing, Travel Channels, Amadeus said, “With one of the fastest growing online travel sectors in the world, it is no surprise that the region is deeply committed to digital transformation. Travel advertising plays a key role in this as it allows retailers to reach travelers in new, interactive ways, at the right moment. It’s against this backdrop, we are pleased to have partnered with Digital Venture to support our future growth in the region and positively impact traveler journeys.”
Dubai, United Arab Emirates, August 27, 2019, (AETOSWire): Desert Golf, a division of Desert Group, has successfully completed the 18 hole greens renovation at the Arabian Ranches golf course - two weeks ahead of schedule.
The championship golf course was closed to pave way for a greens renovation due to the invasion of foreign grasses, which had affected the uniformity, appearance and smoothness of the greens.
The Arabian Ranches greens renovation process entailed a comprehensive survey of all 18 greens, followed by excavation and the careful precise shaping of the subgrade of all the greens in order to mirror the final levels. A consistent depth of USGA greensmix was then added and shaped to meet original design contours. Finally, the greens were planted with certified Platinum TE Paspalum sprigs, an environmentally sustainable, salt-tolerant turfgrass, which was refrigerated and shipped by air from the United States of America.
Platinum TE features a dark green colour and due to its very fine leaf texture provides a tight compact canopy surface that provides exceptional ball puttability.
“The renovations were aimed at elevating the golfing experience and the Arabian Ranches golf course is now looking pristine complete with United States Golf Association-approved greensmix,” said Rory Hutchison, General Manager, Desert Golf.
It is expected that the golf course will be open for play sometime in October.
About Desert Golf
Desert Golf, a division of Desert Landscape Construction, Desert Group was established in 2006 and has since involved in the construction and renovation of several top golfing facilities. Known for their highly skilled golf construction and refurbishment capabilities they thrive on working closely with the best golf designers in the world.
Desert Golf has a team of experts with extensive experience in golf construction, maintenance and renovation who are able to produce outstanding playing surfaces.
Some of the work done by Desert Golf includes Jumeriah Golf Estate, home of the prestigious “Race to Dubai” Golf Tournament as well as the Tiger Woods at Al Ruwaya, Akoya and most recently Dubai Hills for Emaar.
“We at Desert Group offer a range of services that extends from design and landscape construction to turf maintenance and plant nursery capabilities that are focused towards customer needs and are unparalleled in the region”, Michael Mascarenhas, Group CEO, Desert Group. *Source: AETOSWire