ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Syneos Health, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – SYNH

NEW YORK, Aug. 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Syneos Health, Inc. (NASDAQ: SYNH) between September 9, 2020 and November 3, 2022, both dates inclusive (the “Class Period”), of the important September 25, 2023 lead plaintiff deadline. SO WHAT: If you purchased Syneos securities during […]

NEW YORK, Aug. 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Syneos Health, Inc. (NASDAQ: SYNH) between September 9, 2020 and November 3, 2022, both dates inclusive (the “Class Period”), of the important September 25, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Syneos securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Syneos class action, go to https://rosenlegal.com/submit-form/?case_id=17965 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 25, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Syneos’ business development capabilities had been materially impaired by workforce reductions and leadership and operational changes, as well as labor force turmoil caused by the COVID-19 pandemic; (2) Syneos had struggled to integrate recent acquisitions, causing Syneos to suffer from a bloated and confused organizational structure and impairing Syneos’ ability to provide comprehensive or effective customer engagement across its product portfolio; (3) Syneos was suffering from acute competitive disadvantages as clinical trials moved to remote monitoring and decentralized administration, as Syneos lacked the tools possessed by some of its rivals to successfully run remote and decentralized trials, such as certain data visualization and statistical modeling capabilities, and Syneos had failed to adapt to changing business demands in the wake of the COVID-19 pandemic; (4) Syneos’ backlog, book-to-bill ratios, and net new business awards had been artificially inflated by more than $500 million through the inclusion of reimbursable expenses that Syneos would never collect; (5) as a result of the above, Syneos was struggling to execute on its existing contracts and to agilely respond to its client needs, causing Syneos to suffer client dissatisfaction across its client base; and (6) consequently, Syneos was exposed to a material undisclosed risk that Syneos would lose customers, be unable to grow its client base or win significant contract renewals, and cede market share to its rivals. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Syneos class action, go to https://rosenlegal.com/submit-form/?case_id=17965 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8898244

ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Aldeyra Therapeutics, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ALDX

NEW YORK, Aug. 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) between March 17, 2022 and June 20, 2023, both dates inclusive (the “Class Period”), of the important September 29, 2023 lead plaintiff deadline. SO WHAT: If you purchased Aldeyra securities during […]

NEW YORK, Aug. 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) between March 17, 2022 and June 20, 2023, both dates inclusive (the “Class Period”), of the important September 29, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Aldeyra securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Aldeyra class action, go to https://rosenlegal.com/submit-form/?case_id=18032 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 29, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the new drug application (“NDA”) for ADX-2191 (a dihydrofolate reductase inhibitor for the treatment of primary vitreoretinal lymphoma cancer, proliferative vitreoretinopathy, and retinitis pigmentosa, as well as rare retinal diseases characterized by inflammation and vision loss) did not include adequate and well-controlled investigations and thus failed to show substantial evidence of ADX-2191’s effectiveness; (2) as a result, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the ADX-2101 NDA in its current form; (3) accordingly, Aldeyra had overstated ADX-2191’s clinical and/or commercial prospects; and (4) as a result, Aldeyra’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Aldeyra class action, go to https://rosenlegal.com/submit-form/?case_id=18032 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8898182

Duck Creek Technologies Partners with Risk Control Technologies, an Industry-Leading Risk Management and Loss Control Solutions Provider

Risk Control Technologies’ customers are invited to learn more about the partnership with Duck Creek at the upcoming Loss Control Summit in Toronto BOSTON, Aug. 21, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, is delighted to announce its partnership with […]

Risk Control Technologies’ customers are invited to learn more about the partnership with Duck Creek at the upcoming Loss Control Summit in Toronto

BOSTON, Aug. 21, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, is delighted to announce its partnership with Risk Control Technologies (“RCT”), a frontrunner in risk data management software for underwriting and loss control teams. Duck Creek will be a silver sponsor of RCT’s Loss Control Summit conference for loss control professionals from August 21-23, 2023, to kick off their partnership in Toronto, Canada.

At the heart of Duck Creek’s core solutions is Duck Creek Policy, a cutting-edge platform that offers low-code tools through a Software as a Service (SaaS) model. This platform facilitates the entire lifecycle of insurance operations and seamlessly integrates with esteemed industry collaborators. Through these synergies, insurers gain access to solutions that enhance underwriting performance, customer satisfaction, and operational efficiency.

The essence of loss control management resides in preemptive risk mitigation and extended risk assessment coverage. RCT enables carriers to optimize and significantly increase their risk data coverage across their entire book of business. In addition to mitigating more claims, it positively impacts their renewal rates while also creating efficiencies for underwriters within Duck Creek. All of this helps carriers improve their loss ratios, strengthen their customer engagements, and drive impactful operational efficiencies.

“Our partnership with a pinnacle player in loss control management equips Duck Creek’s customers to optimize both the quality and extent of coverage extended to policyholders,” said Robert Fletcher, Sr. Partner Manager, Duck Creek Technologies. “RCT’s data-driven risk management solution is paramount, especially for insurers engaged in underwriting property, casualty and workers comp lines of business. We look forward to continuing to cultivate our partnership and engaging with RCT’s customers at the upcoming Loss Control Summit in Toronto.”

“The strength of our business at RCT rests firmly with our innovative customers and our industry-leading partners,” said David Da Costa, CEO, Risk Control Technologies. “We’re excited to work with Duck Creek, one of the most transformative leaders in the insurance solutions market today. In addition to efficiencies gained by integrating, combining loss control data with data already in Duck Creek, such as claim data, creates significant value from being able to better predict claims or optimize pricing within your book. We’re excited to continue our partnership with a leading partner like Duck Creek.”

About Risk Control Technologies

Risk Control Technologies Inc. (RCT) is the leading provider of Risk Management and Loss Control software to the insurance industry. RCT’s RiskHub platform helps underwriting assess risk, and leverage the appropriate risk assessment tool based on the risk’s complexity. RCT helps over 150 insurance organizations improve their loss ratios, increase customer retention, implement operational efficiencies, and harness powerful data insights to enable better business decisions. RCT’s customers include a wide range of insurance organization types, operating across a broad variety of lines of business. For more information, visit www.riskcontroltech.com.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Media Contacts:
Carley Bunch
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8897397

200 New Stores and AED 10 Million Pledged: Apparel Group’s Visionary Moves in Retail and Philanthropy for H1 2023

200 New Stores and AED 10 Million Pledged: Apparel Group’s Visionary Moves in Retail and Philanthropy for H1 2023 Retail Expansion & extensive CSR plans, define Apparel Group’s strategy in H1 2023 DUBAI, United Arab Emirates, Aug. 21, 2023 (GLOBE NEWSWIRE) — The first half of 2023 has witnessed a remarkable expansion for Apparel Group, […]

200 New Stores and AED 10 Million Pledged: Apparel Group’s Visionary Moves in Retail and Philanthropy for H1 2023

Retail Expansion & extensive CSR plans, define Apparel Group’s strategy in H1 2023

  • Retail Expansion & extensive CSR plans, define Apparel Group’s strategy in H1 2023

DUBAI, United Arab Emirates, Aug. 21, 2023 (GLOBE NEWSWIRE) — The first half of 2023 has witnessed a remarkable expansion for Apparel Group, with the conglomerate announcing the inauguration of a staggering 200 new stores across several global locations. This growth cements its position as a dominant player in the fashion and lifestyle retail landscape

Commenting on this impressive trajectory, Neeraj Teckchandani, CEO of Apparel Group, remarked, “In this era of rapid transformation, Apparel Group isn’t merely adapting; we’re setting the benchmark. Each store we’ve inaugurated, every alliance we’ve fostered, surpasses our expectations and underscores our commitment to global excellence and sustainable leadership. Our vision is clear and ambitious: to redefine the future of fashion retail, firmly anchored in innovation and responsibility, always aiming to exceed expectations.”

On the CSR front, Apparel Group has showcased immense commitment. A donation of AED 2,200,772, in-kind contributions surpassing 68,024, and the touching of 66,316 lives demonstrate the profound social footprint they’ve established. Furthermore, 771 employees have actively participated in these transformative CSR initiatives.

Adding another feather to its humanitarian cap, Apparel Group has pledged AED 10 million over five years to the “1 Billion Meals Endowment” campaign. Spearheaded by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, this initiative epitomizes the UAE’s unwavering commitment to alleviating global hunger and aiding the underprivileged.

Sustainability remains a focal point for Apparel Group. Key milestones include:

  • The Group aligns with the UAE government’s vision, setting its sights on Net Zero by 2050.
  • Joining forces with the UACA Alliance ensures a speedier journey towards achieving Net Zero.
  • An in-depth Scope 1, 2, and 3 Carbon Accounting initiative has been launched, with significant findings and objectives awaiting announcement, all in preparation for SBTi.
  • The birth of the Sustainability Committee, composed of key stakeholders including the CEO and CFO, underscores the brand’s commitment to a greener future.
  • The acquisition of the pioneering SLL Sustainability Linked Loan marks another significant step.

Eagerly on the horizon for the group are endeavors like the finalisation of Carbon Accounting, the inception of energy and vehicle efficiency pilot programs, enhanced adherence to human rights within supply chains, and a transition towards environmentally-friendly water solutions. Furthermore, the company remains dedicated to ongoing climate change education for its employees.

Apparel Group’s vision, growth, and commitment continue to inspire and redefine industry standards.

For more insights into Apparel Group, visit the official website: https://apparelglobal.com/en/

About Apparel Group LLC

Apparel Group is a leading powerhouse in the fashion and lifestyle industry residing at the crossroads of the modern economy – Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2025+ retail stores and 80+ brands on all platforms while employing over 20,000+ multicultural staff.

Apparel Group has carved its strong presence in the GCC and expanded thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, Pakistan, and Egypt. Additionally, clear strategies are in place to enter emerging markets such as Hungary and Philippines.

Apparel Group has created an omni-channel experience, operating brands originating from the USA, Canada, Europe, Australia, and Asia. The brands include leading names in fashion, footwear, and lifestyles such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian, Tim Hortons, Cold Stone Creamery, Inglot, and Rituals.

Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder and Chairwoman, Mrs. Sima Ganwani Ved, who has taken the company from strength to strength since its inception in the last two decades.

https://apparelglobal.com/en/

Contact: PR@apparelglobal.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a1616ddb-0b79-4bde-9664-b2ee51a54aac

GlobeNewswire Distribution ID 8897399

‫200 متجراً جديداً و مساعدات تصل لـ 10 ملايين درهم إماراتي: مجموعة أباريل تواصل تحقيق رؤيتها في النصف الاول من 2023

 تتمحور استراتيجية مجموعة أباريل في النصف الأول لعام 2023 حول التوسع والازدهار على الصعيد التجاري وتنفيذ العديد من الخطط على صعيد المسؤولية المجتمعية للشركات شهد النصف الأول من عام 2023 توسعاً ملحوظاً لمجموعة أباريل بافتتاحها 200 متجر جديد في شتى الأسواق العالمية. ويساهم هذا النمو الملموس في ترسيخ مكانة مجموعة أباريل الريادية في عالم الأزياء […]

 تتمحور استراتيجية مجموعة أباريل في النصف الأول لعام 2023 حول التوسع والازدهار على الصعيد التجاري وتنفيذ العديد من الخطط على صعيد المسؤولية المجتمعية للشركات

شهد النصف الأول من عام 2023 توسعاً ملحوظاً لمجموعة أباريل بافتتاحها 200 متجر جديد في شتى الأسواق العالمية. ويساهم هذا النمو الملموس في ترسيخ مكانة مجموعة أباريل الريادية في عالم الأزياء والموضة.

علق السيد نيراج تيكشينداني، الرئيس التنفيذي لمجموعة أباريل، على هذا النجاح الباهر بقوله ” مع التغيير السريع في وقتنا الحالي، فإن مجموعة أباريل لا تكتفي بالتأقلم فقط بل تقلب الموازيين مع كل متجر جديد تقوم بافتتاحه ومع كل مبادرة تديرها فيها.  نتخطى التوقعات ونؤكد على التزامنا بالمساهمة في التميز العالمي وريادة مجال الاستدامة. تتجسد رؤيتنا في جهودنا المنصبة نحو نقلة نوعية مبتكرة ومسؤولة في عالم الأزياء والموضة وتحقيق إنجازات تفوق التوقعات.”

وفيما يتعلق بتحقيق المسؤولية المجتمعية للشركات، كان دور مجموعة أباريل محورياً وفعالاً من خلال تقديم تبرعات مالية تصل إلى 2,200,772 درهماً إماراتياً،وتبرعات عينية تفوق 68024 وحدة، ساهمت في تغيير حياة 66316 شخصٍ. علاوةً على ذلك، شارك 771 موظفاً من مجموعة أباريل شخصياً وبشكل فاعل في مبادارات المسؤولية المجتمعية للشركات.

وواصلت المجموعة انجازاتها الإنسانية من خلال تعهدها بتقديم 10 مليون درهم لحملة ” وقف المليار وجبة ” خلال الخمس سنوات المقبلة. تأتي هذه الحملة بتوجيه من صاحب السمو الشيخ محمد بن راشد آل مكتوم، نائب رئيس الدولة رئيس مجلس الوزراء حاكم دبي، تجسيداً لدور دولة الإمارات العربية المتحدة في مكافحة الجوع في العالم ومد يد العون لمن هم أقل حظاً.

تتربع الاستدامة على رأس قائمة أولويات مجموعة أباريل وحققت في هذا الخصوصالإنجازات التالية:

  • تتوافق رؤية مجموعة أباريل مع رؤية الحكومة الإماراتية في تحقيق الصافي الصفري بحلول العام 2050.
  • يضمن التعاون مع مبادرة” تحالف الإمارات للعمل المناخي” التحرك بوتيرة أسرع لتحقيق الصافي الصفري.
  • تم إطلاق العديد من مبادرات محاسبة الكربون والنطاق الأول والثاني والثالث وتم الوصول إلى نتائج مهمة جداً سيعلن عنها في لاحقاً تحضيراً لمبادرة SBTi.
  • تم إنشاء لجنة الاستدامة المكونة من أصحاب المصلحة والرئيس التنفيذي لمجموعة أباريل والرئيس التنفيذي الماليوالهادفة لتحقيق المستقبل الأكثر  استدامة.
  • يعتبر الحصول على تمويل مرتبط بالاستدامة خطوة في بالغ الأهمية.

تخطط مجموعة أباريل لتحقيق العديد من الأهداف المهمة مثل ال تحقيق الصافي الصفري والحياد الكربوني وإطلاق برامج الطاقة الصديقة للبيئة، والتمسك بحقوق الإنسان في العمل، وإيجاد حلول للمياه صديقة للبيئة. كما وتستمر مجموعة أباريل في سعيها المستمر لتقديم التوعية بخصوص التغير المناخي لموظفيها.

تستمر رؤية المجموعة في التزامها الدؤوب لتحقيق النمو وتغيير المفاهيم السائدة في هذا المجال.

للمزيد من المعلومات حول مجموعة أباريل، يمكنكم زيارة الموقع الرسمي:

https://apparelglobal.com/ar/

لمحة عن مجموعة أباريل

تقف مجموعة أباريل، أكبر مشغل في مجالات الأزياء وأسلوب الحياة، على مفترق طرق الاقتصاد الحديث في مدينة دبي، بدولة الإمارات العربية المتحدة. واليوم، أضحت المجموعة قادرة على تلبية احتياجات آلاف المتسوقين عبر أكثر من 2,025 متجراً وأكثر من 80 علامة تجارية وبتعيين 20,000 موظف من مختلف الثقافات.

حققت المجموعة حضوراً قوياً وراسخاً في دول مجلس التعاون الخليجي كما أنها نجحت في توسيع مجالات تسويقها في الهند وجنوب أفريقيا وسنغافورة واندونيسيا وتايلند وماليزيا والباكستان ومصر. وإضافة إلى ذلك، وضعت المجموعة استراتيجيات واضحة للدخول إلى العديد من الأسواق الناشئة مثل هنغاريا والفليبين.

تدير مجموعة أباريل العديد من العلامات التجارية العالمية الشهيرة، التي انطلقت من الولايات المتحدة الأمريكية وكندا وأوروبا وأستراليا وآسيا، وتضم الكثير من الأسماء الرائدة في عالم الأزياء، الأحذية ونمط الحياة على غرار تومي هيلفيغر، تشارلز آند كيث، سكتشرز، ألدو، ناين وست، إروبوستال، وغيرها من الأسماء بالإضافة لعلامات تجارية رئيسية مثل تيم هورتنز، جيميز اتاليان، كولدستون كريمري، إنجلوت، ريتوالز وذلك على سبيل المثال لا الحصر.

يذكر بأن الفضل في نجاحات مجموعة أباريل ونموها المذهل يعود لرؤية وتوجيهات مؤسستها ورئيسة مجلس الإدارة سيما جنواني فيد، التي انطلقت بالشركة من القوة إلى الأقوى منذ نشأتها وعلى امتداد عقدين من الزمن.
/https://apparelglobal.com/ar

GlobeNewswire Distribution ID 3622340

The Pakistani President receives the Saudi Minister of Hajj and Umrah

Saudi Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah started his visit to the Islamic Republic of Pakistan with a meeting with Pakistani President Dr. Arif Alvi.Al-Rabeeah reviewed during the meeting The efforts made by the government of the Custodian…

Saudi Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah started his visit to the Islamic Republic of Pakistan with a meeting with Pakistani President Dr. Arif Alvi.

Al-Rabeeah reviewed during the meeting The efforts made by the government of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and his Crown Prince and Prime Minister, Prince Muhammad bin Salman, to serve the pilgrims coming from Pakistan.

Source: International Islamic News Agency (IINA)

Govt Agencies Integrated With PSW Bound to Implement Post Clearance Audit

The Federal Board of Revenue (FBR) has made it mandatory for all government agencies integrated with the Pakistan Single Window (PSW) system to implement Post Clearance Audit (PCA) to ensure compliance with customs and other trade-related laws/regulat…

The Federal Board of Revenue (FBR) has made it mandatory for all government agencies integrated with the Pakistan Single Window (PSW) system to implement Post Clearance Audit (PCA) to ensure compliance with customs and other trade-related laws/regulations.

In this regard, the FBR issued Pakistan Single Window Integrated Risk Management System Rules, 2023 on Monday.

Under the new rules, the feedback in the light of such audit shall be communicated to the respective GA Risk Management Committees to review and update risk rules. In case of detection of any anomaly, irregularity, or violation through the PCA, government agencies may initiate such departmental actions against traders or, as the case may be, consignments as stipulated under their respective governing statutes. The operating entity shall ensure that relevant data pertaining to the import, export, and transit of all goods and commodities is shared with each government agency to enable PCA cf trade transactions. The operating entity shall facilitate regular trainings and capacity-building initiatives on PCA for all GAs.

These rules shall apply to all government agencies that apply trade controls on import, export, and transit goods cleared through the PSW system whether through scanning or other forms of non-intrusive inspection technology, physical inspections, withdrawing of samples, detailed examinations, or documentary controls in the form of licenses, permits, certificates, and other documents in accordance with the regulatory requirements of the government agencies.

The “Integrated Risk Management System” or “IRMS” means the electronic risk management platform provided by PSW for the systematic application of trade controls, management procedures and actions to mitigate cross border trade-related risks on import/export and transit goods cleared through the PSW system in a coordinated manner;

The Governing Council shall constitute an inter-agency Risk Management Committee under sub-section (5) of section 4 of the Act for providing strategic direction, principles, policies, guidance, and oversight for the IRMS, ensure collaboration amongst government agencies for the implementation of the IRMS and review outcomes and effectiveness of risk activities and impact on compliance levels in addition to other tasks assigned by the GC. The GC Risk Management Committee shall assist the GC in addressing issues, problems, and constraints that require policy interventions by the GC.

The risk rules defined by the GA Risk Management Committee shall be in consonance with the policy guidelines issued by the GC Risk Management Committee from time to time, it said.

The operating entity shall establish a center of excellence (COE) to operate and maintain the IRMS, receive and process change requests, monitor the performance of the system, and support IRMS-related training and capacity-building initiatives. The COE shall also be responsible for extracting, analyzing, and sharing IRMS-related data and feedback with the risk management committees and other relevant stakeholders.

Source: Pro Pakistani

Govt Signed New Loan Agreement of $7.2 Billion in First Three Quarters of FY23

The government of Pakistan signed new loan agreements worth $7.228 billion with development partners during the first three-quarters (July-March) of fiscal year 2022-23, compared to $11.321 billion during the same period of 2021-22, said Economic Affa…

The government of Pakistan signed new loan agreements worth $7.228 billion with development partners during the first three-quarters (July-March) of fiscal year 2022-23, compared to $11.321 billion during the same period of 2021-22, said Economic Affairs Division (EAD).

The Division on Monday released “Third Quarterly Report on Foreign Economic Assistance July-March 2022-23”, which noted that the main reasons for higher commitments during fiscal year 2021-22 were the issuance of $2 billion worth of Eurobonds in the international capital markets, larger commitments with foreign commercial banks, and obtaining a deposit worth $3 billion from the Kingdom of Saudi Arabia (as a deposit). However, in July-March 2023 the government was able to make higher commitments with its multilateral development partners ($5,289 billion) as compared to the corresponding period last year ($2.440 billion).

Out of the total new agreements, $5.289 billion worth of financing agreements were signed with multilateral development partners, $900 million with foreign commercial banks, and $1.039 billion with bilateral partners.

During the first three quarters of fiscal year 2022-23 (July-March 2023), out of the total commitments of $7.228 million, an amount of $2.767 billion was earmarked as project financing, $2.400 billion for program financing, $1.161 billion was secured for commodity financing and $900 million for budgetary support to meet the liquidity requirements of the government.

During the period from July to March 2023, disbursements amounting to $7.765 billion were received from multilateral & bilateral development partners as well as from financial institutions.

As of 31st March 2023, Pakistan’s total external public debt stood at $85.18 billion, whereas it was $86.56 billion on 31st December 2022, showing $1.38 billion reduction in total external public debt. Out of the total external public debt of $85.18 billion, the government owed $64 billion to multilateral and bilateral development partners including IMF. Meaning, more than two thirds (i.e. 75 percent) of the total external public debt is on concessional terms with a longer maturity, 16 percent (i.e. $13.5 billion) from international capital markets and foreign commercial banks, and 7 percent (i.e. $7 billion) of the total external public debt constitutes deposits from friendly countries (China & Saudi Arabia).

The government paid an amount of $12.922 billion during the period July-March 2023 on account of debt servicing of external public loans. This consists of principal repayment of $10.835 billion and interest payments of $2.087 billion. Whereas, in the corresponding period last year (i.e. July-March, 2022) the government paid $9.436 billion (principal repayment of $8.137 billion and interest payments of $1.299 billion). The largest payments were made to foreign commercial banks ($4.865 billion), followed by bondholders ($1.392 billion), IsDB commodity financing investors ($1.246 billion), China ($1.110 billion), and IMF ($948 million). In July-March, 2023, net transfers to the government were negative $3.349 billion.

The Division stated that a prudent external debt management strategy coupled with strong institutional arrangements is necessary for managing external debt and improving the repayment capacity of the country. The report stressed upon that borrowing can be productive for the economic growth of developing countries if the economic returns are higher than the cost of borrowed funds, with a special focus on the creation of income-generating assets. The composition of external public debt remains satisfactory as more than two-thirds of the total external public debt is on concessional terms with a longer maturity. However, a small portion (i.e. one-fifth) of the external public debt (commercial borrowings and bonds) entails higher interest rates.

Source: Pro Pakistani