BASF Environmental Catalyst and Metal Solutions (ECMS) signs agreement to acquire Arc Metal AB in Sweden

Acquisition adds smelting capability to serve spent automotive catalyst customers in Europe, Middle East and Africa Complements ECMS recycling operations and global precious metal services Broadens range of materials that can be processed by ECMS Closing of transaction expected in early first quarter 2024 ISELIN, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) — BASF Environmental Catalyst […]

  • Acquisition adds smelting capability to serve spent automotive catalyst customers in Europe, Middle East and Africa
  • Complements ECMS recycling operations and global precious metal services

  • Broadens range of materials that can be processed by ECMS

  • Closing of transaction expected in early first quarter 2024

ISELIN, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) — BASF Environmental Catalyst and Metal Solutions (ECMS) has signed an agreement to purchase the assets of Arc Metal AB in Hofors, Sweden. The company currently conducts toll smelting and processing of spent automotive catalyst, among other services, and will further complement ECMS’s existing global precious metal recycling operations in Cinderford, UK, Seneca and Spartanburg, South Carolina, and Caldwell, Texas, USA. The closing of the transaction is expected early in the first quarter of 2024.

“This investment will allow us to grow our recycling business in Europe and bring in best-in-class pyro-metallurgical technology providing flexibility to process high carbon containing materials, like Silicon Carbide found in spent automotive catalyst materials as well as access to new markets,” said Tim Ingle, Senior Vice President, Precious Metal Services and Recycling, ECMS. “We look forward to welcoming our new colleagues who bring vast experience in smelting and processing of spent automotive catalysts.”

The additional smelting capacity at the Sweden site will also increase utilization of the new refinery capacity in Seneca, South Carolina. Recycled catalysts go through a smelting process and are then refined to produce the high purity precious metal needed to make new catalysts and other end use products, supporting a circular economy. Recycled platinum group metals can also lower carbon emissions by up to 97 percent, in comparison to refining mined or primary materials1.

“The asset purchase will enable ECMS to meet increased customer demand for spent automotive catalyst recycling and position ECMS more competitively in the region,” said Dirk Bremm, President and CEO, ECMS. “The acquisition also aligns with our sustainability efforts and those of our customers since catalyst recycling as a secondary supply is a significant source of precious metals, preserving our critical resources.”

To learn more about BASF’s recycling business, visit www.basf.com/ecms.

1 Source: Sphera Solutions GmbH (2022): GaBi Database Edition 2022, SP37

About BASF Environmental Catalyst and Metal Solutions
Leveraging its deep expertise as a global leader in catalysis and precious metals, BASF Environmental Catalyst and Metal Solutions (ECMS) serves customers in many industries including automotive, aerospace, indoor air quality, semiconductors, and hydrogen economy, and provides full loop services with its precious metals trading and recycling offering. With a focus on circular solutions and sustainability, ECMS is committed to helping our customers create a cleaner, more sustainable world. Protecting the elements of life is our purpose and this inspires us to ever-new solutions. ECMS operates globally in 15 countries with over 4,500 employees and 20 production sites.

Media Relations contact:
Betsy Arnone
Phone: +1 973-519-9808
betsy.arnone@basf-catalystsmetals.com

GlobeNewswire Distribution ID 8992710

Duck Creek Technologies Appoints Barbara Bufkin and Diane Fanelli to Board of Directors

Accomplished executives bring decades of insurance and technology expertise to new board roles Barbara Bufkin BOSTON, Dec. 11, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced the appointments of Barbara Bufkin and Diane Fanelli to the company’s board of […]

Accomplished executives bring decades of insurance and technology expertise to new board roles

Barbara Bufkin

Board Member / Senior Advisor

BOSTON, Dec. 11, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced the appointments of Barbara Bufkin and Diane Fanelli to the company’s board of directors. Bufkin joins Duck Creek’s board with an extensive background in global (re)insurance, distribution, underwriting, and technology, advising companies in originating and fostering strategic partnerships. Fanelli is a global customer-centric operations leader known for her expertise in guiding global enterprise software teams and company growth.

“Barbara and Diane are each accomplished and recognized experts in their respective fields, and they will add incredible value to guide Duck Creek’s long-term mission and business strategy,” says Mike Jackowski, CEO of Duck Creek Technologies. “Barbara’s and Diane’s areas of expertise are highly complementary and a perfect fit to enhance our customer success initiatives, advance our partner ecosystem to benefit our insurer customers and their policyholders, and enable our global growth aspirations. It is an honor to have their talents on our board of directors.”

Bufkin is a C-suite executive leader with vast experience in the insurance and reinsurance industry, with roles encompassing operational and strategic responsibilities, business and product development, underwriting, claims, risk management, and corporate governance. Most recently, she served as a senior advisor to Amwins and was a founding member of the Amwins Group Diversity & Inclusion Council. Bufkin has also held executive leadership roles at Argo Group, Assurant, Hamilton USA, Guy Carpenter, Sedgewick Payne (acquired by Guy Carpenter), and Swiss Re. Bufkin advocates for the value of the insurance industry as a career of choice in her role on the Board of Trustees of Gamma Iota Sigma (GIS) and is past president and chair of the governance committee formed during her tenure. Bufkin is a 2012 recipient of the Association of Professional Insurance Women’s (APIW) Woman of the Year award and was inducted into the Insurance Business America Hall of Fame in 2019. Her philanthropic work includes the Inclusion, Diversity, Equity and Accessibility (IDEA) Council of the Insurance Industry Charitable Foundation (IICF).

Diane Fanelli

Board Member / Chief Operating Officer

Fanelli currently serves as Chief Operating Officer (COO) at iCIMS, where she leads the company’s professional services, award-winning customer success, technical support, revenue operations, go-to-market enablement, and customer training teams. In 2019 Fanelli was recognized with a CRN Channel Chief award and the CRN Women of the Channel award in 2018 and 2017 for her success in driving innovation, growth, and revenue through channel partners and customers. Prior global enterprise software executive leadership experience includes COO roles at Citrix and SAP. She has previously served as an executive sponsor of diversity and inclusion programs, including the Veterans to Work initiative at SAP. She is an active supporter of STEM initiatives to inspire today’s youth to focus on the digital careers of tomorrow.

Bufkin and Fanelli’s roles were sourced through the external board program operated by Vista Equity Partners, a global investment firm focused on enterprise software, data, and technology-enabled businesses and a majority investor in Duck Creek. Launched in 2017, the board program leverages Vista’s ecosystem and additional resources to identify, train, and appoint qualified board candidates for its portfolio companies. The program works to create a diverse pipeline of qualified board candidates through programs and partnerships that advance diversity for all boards and drive impact for the corporate world at large.

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

Drake Manning
drake.manning@duckcreek.com

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GlobeNewswire Distribution ID 8991936

OPEN Health and Nested Knowledge announce strategic research collaboration to leverage AI technologies for evidence synthesis

London, Dec. 11, 2023 (GLOBE NEWSWIRE) — London, UK – December 11, 2023 – OPEN Health, a preeminent global provider of consulting, HEOR and market access, patient engagement, and scientific and creative communications services, is excited to announce a strategic collaboration with Nested Knowledge, a leading provider of AI-based SaaS platform solutions for systematic literature […]

London, Dec. 11, 2023 (GLOBE NEWSWIRE) — London, UK – December 11, 2023OPEN Health, a preeminent global provider of consulting, HEOR and market access, patient engagement, and scientific and creative communications services, is excited to announce a strategic collaboration with Nested Knowledge, a leading provider of AI-based SaaS platform solutions for systematic literature review and meta-analysis. Together, we aim to enhance the speed, efficiency, and depth of evidence synthesis, ultimately aiding biopharmaceutical researchers in making crucial healthcare decisions and bringing products to market quicker.

“This collaboration underscores OPEN Health’s unwavering commitment to leveraging innovative solutions and AI technologies for superior client delivery,” said Richard Jones, President of OPEN Health Evidence & Access. “We are excited to formalize our collaboration with Nested Knowledge and collectively bring market-leading evidence synthesis solutions to our clients.”

Systematic literature reviews and meta-analyses facilitate the methodical evaluation of all pertinent research on a specific topic and are fundamental components of comprehensive outcomes assessments, often in preparation for health technology assessment (HTA) and reimbursement submissions. Boosting the speed and increasing the transparency at which they’re conducted will hasten the translation of research into actionable insights and approved healthcare interventions. Nested Knowledge’s AI-driven platform will be applied within OPEN Health’s strategic market access and evidence synthesis teams, dramatically speeding up research analysis and the derivation of insights. By combining Nested Knowledge’s technological prowess with OPEN Health’s scientific and analytical expertise, the partnership aims to elevate the standards, speed, and precision of healthcare evidence analysis.

“Uniting technology with expertise is core to the mission of Nested Knowledge, as well as to overcoming key barriers in conventional evidence synthesis processes,” according to Kevin Kallmes, CEO and founder of Nested Knowledge. “OPEN Health’s leading evidence synthesis capabilities and approach to AI augmentation in the context of expert oversight makes them a perfect partner for scaling up more rapid, interactive, and technologically integrated solutions.”

About OPEN Health

OPEN Health unites deep scientific knowledge with wide-ranging specialist expertise to unlock possibilities that improve health outcomes and patient well-being. Working in partnership with our clients, we embrace our different perspectives and strengths to deliver fresh thinking and solutions that make a difference. OPEN Health is a flexible global organization that solves complex healthcare challenges across consulting, HEOR and market access, scientific communications, patient engagement, and creative omnichannel communications. For more information on OPEN Health, visit www.openhealthgroup.com.

About Nested Knowledge

Nested Knowledge is a living evidence platform that houses, auto-extracts, and analyzes published clinical literature for conducting systematic literature reviews. As a result, each review produces evidence as interactive, web-based visuals. The platform emphasizes updateability, traceability, and visual interactivity—revolutionizing the way evidence is understood without depending on scattered, non-updatable, incomplete PDF outputs. For more information, visit https://about.nested-knowledge.com

Press contact:

OPEN Health

Candice Subero, candicesubero@openhealthgroup.com

Nested Knowledge

Keith Kallmes, keith.kallmes@nested-knowledge.com

Attachment

Candice Subero
OPEN Health
candicesubero@openhealthgroup.com

GlobeNewswire Distribution ID 8991999

Nyxoah Announces Real World Case Series Demonstrating Positive Results in Treating CCC Patients with Genio®

Nyxoah Announces Real World Case Series Demonstrating Positive Results in Treating CCC Patients with Genio® Data presented at the DGSM Conference in Berlin by Dr. Christian Plettenberg on December 8, 2023 Results showed an average AHI decrease of 73% Mont-Saint-Guibert, Belgium – December 11, 2023, 7:30am CET / 1:30am ET – Nyxoah SA (Euronext Brussels/Nasdaq: […]

Nyxoah Announces Real World Case Series Demonstrating Positive Results in Treating CCC Patients with Genio®

Data presented at the DGSM Conference in Berlin by Dr. Christian Plettenberg on December 8, 2023
Results showed an average AHI decrease of 73%

Mont-Saint-Guibert, Belgium – December 11, 2023, 7:30am CET / 1:30am ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced data from a real-world case series evaluating treatment of three complete concentric collapse (CCC) patients with the Genio® hypoglossal nerve stimulation system. The investigator-sponsored case series was presented by Dr. Christian Plettenberg from the Universitätsklinikum Düsseldorf on December 8, 2023. Results showed an average apnea-hypopnea index (AHI) decrease of 73% and Epworth Sleepiness Scale (ESS) decrease of 58%. There were no implant related adverse events.

Key Results:

  • AHI: The AHI in Patient 1 decreased from 44/h to 5.6/h, in Patient 2 from 24/h to 11.2/h and in Patient 3 from 36/h to 11.2/h. This resulted in an average reduction of 73%.
  • ESS: The ESS in Patient 1 decreased from 15 to 2, in Patient 2 from 12 to 9 and in Patient 3 from 11 to 5. This resulted in an average reduction of 58%.

“These data further validate Genio’s bilateral stimulation approach in treating CCC patients, who represent approximately 30% of HGNS eligible-to-treat OSA patients and are contraindicated to commercially available HGNS therapy in the US. European HGNS market growth accelerated with our CE-Mark CCC label expansion, and, pending FDA approval, I am excited to bring Genio to CCC patients in the US,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “I want to thank Dr. Plettenberg and his colleagues for their important work which reinforces Genio as a treatment solution for both non-CCC and CCC patients.”

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Contact:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

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GlobeNewswire Distribution ID 1000903550

Project Worldwide Expands Sports, Web3 & Entertainment Capabilities with Investment in Talisman

Investment Fuels Rapid Growth in the US Market for Sports Marketing Agency Talisman Talisman Founder Dharpan Randhawa NEW YORK, Dec. 10, 2023 (GLOBE NEWSWIRE) — Employee-owned network of creative agencies, Project Worldwide, is making a substantial strategic investment in Talisman, a full-service sports marketing agency that has forged remarkable partnerships between world-class brands and sports […]

Investment Fuels Rapid Growth in the US Market for Sports Marketing Agency Talisman

Talisman Founder Dharpan Randhawa

Project Worldwide Invests in Sports Marketing Agency Talisman

NEW YORK, Dec. 10, 2023 (GLOBE NEWSWIRE) — Employee-owned network of creative agencies, Project Worldwide, is making a substantial strategic investment in Talisman, a full-service sports marketing agency that has forged remarkable partnerships between world-class brands and sports rights holders who have stamped their dominance in Formula 1 including partnering with Kraken & Williams Racing to identify and source key partnerships and significant business development opportunities across F1 races worldwide. Recognized for creativity, data utilization, and innovation, Talisman’s expertise extends beyond F1, encompassing Sports, Web3, Gaming and Entertainment. The agency has achieved success working with a roster of world-class brands including Kraken, TUMI, Fanduel, McLaren, Lamborghini, ONE Championship and various stakeholders across the EPL, NBA, MLB, NFL and more.

Based in Dubai and experiencing explosive growth since its 2021 launch, the investment will allow Talisman to expand into the U.S. as well as tap into Project’s global offices in 24 countries, which will see Talisman establishing commercial offices in New York, Los Angeles, London, Riyadh and Singapore.

Talisman was founded by Dharpan Randhawa, a sports marketing industry veteran who previously served as McLaren Racing’s Senior Vice President of its Asia-Pacific region as well as Vice President of sales for Lagardère Sports (SPORTFIVE). Talisman has over 100 years of combined industry experience with a high-caliber advisory team including Tom Fox, Javier Villamizar and Kenneth Berger. Fox started his career on the brand side working with Gatorade and Nike, and later worked the sports side serving as President of the MLS team the San Jose Earthquakes as well as Chief Commercial Officer of Arsenal FC and CEO of Aston Villa. Villamizar leads Softbank’s Vision Fund as Operating Partner and brings 25+ years of international “deal closing” experience managing multi-billion regional operations. Berger has a proven track record of business success throughout Asia including Regional Vice President at IMG & Head of Asia for the UFC. He launched Sports Marketing Japan (SMJ) which in 2009 was sold to Yoshimoto Kogyo, Japan’s largest entertainment production entity and talent agency.

“We’ve always been highly selective and deliberate about the agencies we bring into our network, looking for those who are largely founder-led, creative and passionate about collaboration,” said Robert G. Vallee, Jr., Project’s Chairman and CEO. “After getting to know Dharpan and the team, we knew this was an excellent fit and we are excited to unlock the potential of our businesses coming together.”

Talisman is joining the Project Sports, Gaming and Entertainment Collective, which now spans the full spectrum of sports marketing services including sports business consulting, sports sponsorships, brand campaigns and activations, digital innovation, content-centric programming, data/analytics and talent booking. Project SGE conceives of and creates iconic, culturally driven integrated marketing campaigns and programs for blue-chip clients, start-ups and everything in between. Talisman will be able to tap into the talents of Project’s 13 other creative agencies including GPJ, OS Studios, G7, Motive, Praytell, Wondersauce and more.

“All of the Project agencies are built for ‘hyperconnective’ creativity, which allows for seamless ideation, rapid adaptation, and collective innovation across platforms and programs,” said Matt Statman, Motive founder, Chief Creative Officer and Chief Executive Officer as well as President of Project Integrated Agency Group. “We are fueled by strategy, driven by creativity, and known for flawless execution and can’t wait for Talisman to provide more ammunition to construct meaningful bonds between brands and moments in culture.”

As part of this transformative collaboration, Talisman is announcing several key changes to its leadership team. Founder Dharpan Randhawa will assume the role of CEO, Charlie Evans will take on the vital role of Chief Revenue Officer, overseeing revenue generation and growth strategies and Logan Furr will serve as Chief Partnerships Officer, leading efforts in forging valuable brand partnerships globally.

“Our journey has been defined by exponential growth, and our expansion into the US market is a testament to our robust trajectory,” said Dharpan Randhawa, Talisman founder and CEO. “This strategic partnership with Project SGE is a game-changer. It not only provides Talisman with the resources to accelerate our presence in the United States, but also enhances our capabilities to offer clients and partners a more complete service portfolio. Together, we’re poised to reshape the industry landscape and serve our clients with an unmatched, holistic approach.”

Learn more about Project at Project.com and Talisman at TheTalismanAgency.com.

Media Contact:
Jeannie Evanchan
jeannie@praytellagency.com

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GlobeNewswire Distribution ID 8991976

Planning Commission Submits Rs. 25.9 Billion PC-1 For Construction of Gomal Zam Dam

The Planning Commission has submitted the 2nd revised PC-I of the Gomal Zam Multipurpose Project to the Executive Committee of the National Economic Council (ECNEC) at a total cost of Rs. 25.9 billion.The project would include with FEC/USAID grant of …

The Planning Commission has submitted the 2nd revised PC-I of the Gomal Zam Multipurpose Project to the Executive Committee of the National Economic Council (ECNEC) at a total cost of Rs. 25.9 billion.

The project would include with FEC/USAID grant of Rs. 9.8 billion and cost-sharing of Rs. 2.57 billion by government of KP (GoKP) (Rs. 1.41 billion for FWOs cost of security and miscellaneous and Rs. 1.16 billion for land acquisition) with the following recommendations:

To close the project, PC-IV will be submitted after approval from ECNEC:

G/o Khyber Pakhtunkhwa will share the cost of security by FWO and Land Acquisition.

The Badraggas required for the operation of the project should be a valid charge on the project duly approved by NEPRA in hydel tariff.

The remaining Command Area will be developed as per PC-I, by the Agriculture Department, G/o Khyber Pakhtunkhwa.

Gomal Zam Dam was constructed on the Gomal River in South Waziristan, Khyber Pakhtunkhwa. It is roughly bounded by the Kaur Nullah in the North and the Gomal town in the South. The main objective of the project is to harness flood water to provide an assured irrigation water supply of 848 cusecs to irrigate 191,139 acres of land including 28,053 acres of additional land which falls under the command of the Waran Canal System and to generate 17.4 MW electricity.

Other objectives include flood mitigation and employment generation in the region by enhanced farm production.

Outcomes of the Project

Construction of a 437 ft. high dam with a reservoir having a gross storage capacity of 1.14 MAF.

Construction of a 60.5 km main canal of 848 cusecs discharge capacity and 369 km distributaries and minors.

Construction of 36.62 km Waran Canal System to provide irrigation in the command area of 28,053 acres.

Installation of a power plant with a generation capacity of 17.4 MW with an annual generation capacity of 90.9 GWh.

The original PC-I of the project was approved by ECNEC in the year 2001 for Rs. 12.82 billion. Design and construction contract was awarded to joint venture China National Water and Hydropower Corporation Harbin Power Engineering on an EPC contract basis on 17 June 2002 for US$ 72.9 million but due to the kidnapping of Chinese Engineers, the EPC contract terminated on 14 April 2006. The Economic Coordination Committee (ECC) approved the proposal of re-tendering on 1st March 2006. The contract was awarded to FWO for Rs. 10.4 billion with the commencement date of 11 June 2007 as an EPC contract without execution of transmission line with an expected date of completion as October 08, 2010.

Due to escalation, security requirements, and additional scope, WAPDA revised the project in 2012 for Rs. 22.48 billion with expected completion in June 2015, However, the project was approved by ECNEC at a rationalized cost of Rs. 20.62 billion on 6 March 2014 including Rs. 10.72 billion as USAID grant and Rs. 2.2 billion. as GoKP share for land acquisition and FWO security arrangements. Now WAPDA has submitted the 2nd revised PC-I of the project at a revised cost of Rs. 25.92 billion.

As per WAPDA’s latest report (August 2023), the project is physically 100 percent completed and the financial progress is 116.70 percent against 100 percent. Total expenditures incurred till August 2023 amounting to Rs. 24 billion against the approved cost of Rs. 20.6 billion.

The hydropower component has been operational since June 2013. Waran Canal System has been handed over to Irrigation Department GoKP on 5 November 2020. However, out of 197, 000 Acres of agricultural land, 60,000 Acres have been developed by GoKP through a separate project. The remaining 137,000 acres will be developed by June 2023. Ministry of Water Resources was requested vide OM dated 20-12-2022 and a subsequent reminder dated 03-01-2023 to provide up-to-date releases and expenditures.

The response received reveals that an amount of Rs. 18.6 billion has been released and an expenditure of Rs. 24.8 billion has been made. The expended amount includes Rs. 7.69 billion from PSDP, Rs. 1.4 billion from Provincial share, Rs. 9.54 billion from USAID, and Rs. 6.18 billion from WAPDA bridge financing. As per the 2nd Revised PC-I, the estimated cost is Rs. 25.92 billion therefore, the net requirement for the project is Rs. 7.25 billion.

Reasons for Revision

Increased costs of consultancy services due to prolonged implementation.

High bids were received for the Waran Canal.

Variation Orders, EOTs Compensation, Financing Charges, and payments to be made at Escalated US$ rates.

Increase in security cost due to prolonged implementation.

Preparatory works/other Miscellaneous works

Authority overheads are based on actual payment and for an extended period up to December 2020.

The exchange rate was less.

SOURCE: PRO PAKISTANI

Roshan Digital Account Inflows Hit $7.03 Billion in November 2023

Foreign exchange inflows through the Roshan Digital Accounts (RDAs) were recorded at $7.035 billion by the end of November 2023, according to the State Bank of Pakistan (SBP).Till the end of November, $1.531 billion have been repatriated with $4.322 b…

Foreign exchange inflows through the Roshan Digital Accounts (RDAs) were recorded at $7.035 billion by the end of November 2023, according to the State Bank of Pakistan (SBP).

Till the end of November, $1.531 billion have been repatriated with $4.322 billion utilized locally. The net repatriable liability at $1.182 billion.

In November, funds received stood at $137 million, while funds of $7 million were repatriated. The funds utilized locally stood at $103 million. Meanwhile, the net repatriable liability in September was $27 million.

As per data, 640,875 RDAs have been opened since they were launched, representing a 1.8 percent increase on a month-on-month basis.

In November 2023, total net investments made through RDA stood at $784 million. NPC Investments (Conventional) stood at $323 million, while NPC Investments (Islamic) were recorded at $432 million. Roshan Equity Investments came in at $29 million. The Balances in Accounts were recorded at $374 million with Other Liabilities coming in at $23 million.

SOURCE: PRO PAKISTANI

ECNEC Likely to Increase Laptop Scheme Quota for Balochistan Students

The Executive Committee of the National Economic Council (ECNEC) is likely to approve the revised phase-wise quota of merit-based distribution of laptops for the students of Balochistan province from 6 percent to 18 percent.The Planning Commission has…

The Executive Committee of the National Economic Council (ECNEC) is likely to approve the revised phase-wise quota of merit-based distribution of laptops for the students of Balochistan province from 6 percent to 18 percent.

The Planning Commission has submitted a summary to the ECNEC which stated that the sponsor has provided the merit criteria for Laptop distribution along with the cost breakup of a laptop merit criteria and cost breakup of a laptop capital cost.

As per the merit criteria, Laptops will be distributed in all degree programs purely on merit and the quota for each degree program will be determined as per enrollment.

Students have secured 70 percent marks for the semester system (2.88 CGPA) and 60 percent marks for annual system students.

BS 1st Semester Students will be required to provide the HSSC marks, which will be converted into CGPA accordingly. However, MS/Ph.D. 1st Semester Students will be required to add the last degree program numbers

CGPA/ GPA to Percentage conversion Shall be governed by the defined formula.

The top meritorious students against the allocated quota of each department/ program will be considered for the “award of laptops as per their respective quota (year-wise or semester-wise).

Year-wise allocation will be followed for BS/Diploma programs, whereas, semester-wise allocation System will be followed for MS/MPhil, or equivalent Degree programs, and their respective quota/ allocation in merit.

Official documents revealed that the PM Laptops Scheme was announced as one of the initiatives launched under the Prime Minister’s Youth Schemes in 2013 for five years. A total of 500,000 laptops were procured and distributed in two phases under PPRA Rules amongst the students as per defined, criteria of the announced scheme.

The Higher Education Commission of Pakistan was entrusted to execute the scheme and devise a criteria/ mechanism for the distribution of laptops under this scheme. Moreover, the PM Youth Laptop Scheme Phase-Ill is ongoing with the scope of 100,000 Laptop computers to be distributed among Meritorious students in the year 2023. In addition, as a Prime Minister’s Initiative, the “Prime Minister’s Laptop Scheme” has also been approved in the budget on 6th June 2023 and included in PSDP FY 2023-24.

The project was discussed in the ECNEC Meeting held on July 19, 2023, and was conditionally approved. As a follow-up to the decision of the ECNEC, the sponsors have submitted a modified PC-1.

SOURCE: PRO PAKISTANI