June 9, 2022 – MediaLine Pakistan

June 9, 2022June 10, 2022

Auto Sector Contributed Heavily to Growth of LSM Sector in Last 7 Years

Pakistan Economic Survey (PES) report has revealed some interesting insights regarding the country’s sector-wise growth.

According to the document, the Large Scale Manufacturers’ (LSM) sector observed a 10.4 percent growth since the 2015-16 fiscal year (FY2015-16). The main contributor to that is the growth in Pakistan’s auto sector.

The report shows that the auto sector grew by 54.10 percent since FY2015-16, recording the highest growth rate in the LSM sector. The growth is due in large part to the Automotive Development Policy (ADP) 2016-21, which facilitated the arrival of several new players in the market.

Furthermore, LSM sector growth amounts to 9.24 percent of the country’s Gross Domestic Product (GDP). Although the auto sector’s individual contribution has not been highlighted, its tremendous growth rate implies a significant role in the overall growth.

Also, the transportation and storage industry posted a growth of 5.4 percent. Road transport, in particular, recorded 4.99 percent growth due to the arrival of new commercial vehicles.

Future Outlook

The previous government formulated the Automotive Industry Development and Export Plan (AIDEP) 2021-26, which focused on the complete indigenization of vehicle production. It included several incentives for carmakers and electric vehicle (EV) startups to start producing vehicles and their parts locally.

However, amid the ongoing economic turmoil, the interim government has proposed an increase in taxes for locally assembled as well as completely built-up (CBU) cars to pin down the soaring import bill.

Issues such as rising raw material costs, shipping costs, fuel costs, and local currency depreciation have become an obstacle to the auto industry’s progress. Those added with the incoming tax rate hikes will make the cars more expensive, which is likely to hinder the auto-sectors growth.

The industrialists and the public are eagerly awaiting the new budget as it will decide the fate of all sectors and the economy.

Source: Pro Pakistan

June 9, 2022June 10, 2022

Pakistani YouTubers Get More Views from Foreign Countries

For the first time ever, YouTube hosted a virtual Pakistan creator roundtable with four renowned Pakistani YouTubers including Ducky Bhai, Something Haute, Sistrology, and Street Food PK. The event was attended by several media personalities as well as the Country Director of Pakistan at Google, Farhan S. Qureshi.

He revealed that over 55% of views on Pakistani YouTube channels come from outside the country.

Over 55 percent of the viewership of Pakistani YouTube channels comes from outside the country. The number indicates that the content created by Pakistani YouTubers is highly popular all across the globe.

Qureshi also talked about other Pakistani YouTuber statistics such as the growth rate of local YouTube channels. He revealed that the growth rate of Pakistani YouTube channels is significantly higher than last year.

More than 300 Pakistani channels on YouTube have more than one million subscribers, showing an overall growth of 35% against the previous year.

Additionally, more than 4500 Pakistani channels on YouTube have more than 100,000 subscribers at the time of writing, which is a growth rate of 45% over the last year. These channels are now making more than Rs 1 million annually which is the biggest recorded growth of a remarkable 140%.

Source: Pro Pakistan

June 9, 2022June 10, 2022

Systems Limited and Ali Institute of Education Launch IT Mustakbil Training Program

Marching forward with its mission to solidify the IT landscape of Pakistan, Systems Limited has collaborated with the Ali Institute of Education.

The company is proud to announce the IT Mustakbil (ITM) Training Program; its core foundation lies in raising IT awareness, encouraging women to excel, up-skilling and re-skilling, and increasing job opportunities, resultantly stimulating IT exports and revolutionizing Pakistan’s IT landscape.

ITM is offering a six-month-long diploma in computer science which aims to open doors to the IT industry for anyone with 16 years of education. People with academic backgrounds in computer sciences, mathematics, statistics, engineering, or finance can introduce themselves to the courses that will help them land a promising opportunity in the IT industry.

The curriculum will cover the basic and advanced faucets of IT training, including RDMS & Graph databases, Node JS/React JS, ERP & CRM, eCommerce, Power App, Power BI, etc.

Systems Limited and Ali Institute of Education intend to empower as many IT enthusiasts as possible. This program is a great chance to learn and get a first-hand experience from the faculty of leading universities and seasoned IT professionals.

Candidates will be admitted based on their academic record, test, and interview. Once they graduate, they will get a chance to be part of leading IT companies.

To promote the cause and raise awareness about this remarkable IT program, Systems Limited and Ali Institute of Education also collaborated with Shehzad Roy and Sajal Ali. Shehzad Roy composed the song Tum Ho To in order to support conveying the message to the masses.

The song revolves around a strong narrative of women’s empowerment and how with the IT Mustakbil Training Program they can have a promising career in the IT world and contribute towards IT advancement.

Source: Pro Pakistan

June 9, 2022

Asda Stores Ltd Selects TrueCommerce to Manage its Business Transformation Initiative as It Separates from Walmart

COVENTRY, United Kingdom, June 09, 2022 (GLOBE NEWSWIRE) — TrueCommerce, a leading global cloud provider of supply chain and trading partner connectivity, integration and omnichannel solutions, announced today that Asda is now using TrueCommerce’s EDI-based supplier enablement solution to manage supplier communications.

As the third-largest supermarket chain in the UK, Asda operates over 600 retail stores. The brand also offers their products online via Asda.com, which serves 98% of UK homes. To do so, Asda is supported by 37 distribution and fulfilment centres and thousands of suppliers.

In February 2021, Asda was sold by Walmart to the Issa Brothers and TDR Capital. That sale led the company to choose a new EDI provider that would support its future as a standalone business: TrueCommerce.

“TrueCommerce was part of a comprehensive RFP process and was selected on the basis of four key factors: its ability to understand and meet the Asda capability requirements, its confidence in adhering to programme timelines, its deep knowledge and expertise, and its overall commercial competitiveness,” said Jenny Hopkins, Senior Director at Asda.

As part of the agreement, TrueCommerce will implement a supplier enablement platform catering to the needs of the over 2,000 suppliers that make up Asda’s entire supplier community, with integration into the business’s SAP ERP system. As an SAP Silver Partner, TrueCommerce’s solution offers the highest level of integration and automation with the SAP system.

The solution offered by TrueCommerce features key capabilities that will enable thousands of Asda suppliers, regardless of their size or technical maturity, to easily communicate with the retailer. In addition to supporting EDI transactions, the supplier enablement platform also includes a web-EDI portal for use by non-EDI capable vendors. TrueCommerce’s platform also includes fully managed supplier onboarding and communications management for EDI-related supplier queries.

TrueCommerce’s expertise in the market and experience in managing complex supply chain communications for enterprise-grade businesses will enable a seamless transition for Asda and its supplier community. It will encourage higher rates of adoption that will, in turn, underpin the company’s ongoing supplier communication efforts.

Jenny highlighted that, “By partnering with TrueCommerce, Asda will offer a strong, stable, fully reliable and excellently managed EDI programme to our highly valued Asda suppliers, no matter how big or small they are!”

David Grosvenor, Managing Director, TrueCommerce Europe said, “I’d like to thank Jenny and the team at Asda for their cooperation in this process. Our teams at TrueCommerce are delighted to begin working with Asda and help further strengthen their business in the UK retail landscape.”

About Asda Stores Ltd

Founded in the 1960s in Yorkshire, Asda is Britain’s third largest supermarket. Dedicated colleagues serve customers from its network of stores and online services, including supercentres, superstores, supermarkets, living stores, petrol filling stations and depots across the UK. Asda was acquired by Issa TDR from Walmart in 2020.

About TrueCommerce

TrueCommerce is the most complete way to connect your business across the supply chain, integrating everything from EDI to inventory management, to fulfilment, to digital storefronts and marketplaces. We’ve revolutionised supply chain visibility and collaboration by helping organisations make the most of their omnichannel initiatives via business P2P connectivity, order management, collaborative replenishment, intelligent fulfillment, cross-functional analytics, and product information management.

The TrueCommerce Global Commerce Network can connect businesses to over 160,000 retailers, distributors, and logistics service providers. As a fully managed services provider, we also manage new trading partner onboarding, as well as the ongoing management of partner-specific mapping, labeling changes, and communications monitoring. That’s why thousands of companies—ranging from startups to the global Fortune 100, across various industries—rely on us.

TrueCommerce: Do business in every direction

For more information, visit TrueCommerce.

Media Contact
Yegor Kuznetsov, TrueCommerce
703-209-0167
yegor.kuznetsov@truecommerce.com

June 9, 2022

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings Investors with Losses to Secure Counsel Before Important June 21 Deadline in Securities Class Action – BKKT, BKKT-WT, VIHAU, VIH, VIHAW

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE: BKKT, BKKT-WT) (NASDAQ: VIHAU, VIH, VIHAW) (a) between May 7, 2021 and February 25, 2022, inclusive (the “Class Period”); and/or (b) pursuant and/or traceable to the Offering Documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC (“Legacy Bakkt”) completed on or about October 15, 2021 (the “Business Combination”) of the important June 21, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Bakkt 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 Bakkt class action, go to https://rosenlegal.com/submit-form/?case_id=5546 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 June 21, 2022. 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, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation, and that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Offering Documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Bakkt had defective financial controls; (2) as a result, there were errors in the Company’s financial statements related to the misclassification of certain shares issued prior to the Business Combination; (3) accordingly, Bakkt would need to restate certain of its financial statements; (4) Bakkt downplayed the true scope and severity of these issues; (5) Bakkt overstated its remediation of its defective financial controls; and (6) as a result, the Offering Documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Bakkt class action, go to https://rosenlegal.com/submit-form/?case_id=5546 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.

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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

June 9, 2022

International NASH Day Highlights a Common – But Unfamiliar – Liver Disease

Global Liver Institute Convenes Communities Around the Globe Today to Reverse the Growing Trend of Fatty Liver Disease

Washington, D.C., June 08, 2022 (GLOBE NEWSWIRE) — Global Liver Institute (GLI) calls attention to NASH by leading the 5th annual International NASH Day on June 9. The number of people with this advanced liver disease is expected to double by 2030, but #NASHday aims to prevent this growth. Join the movement to #StopNASHNow by listening in as 24 expert panelists from around the globe share the latest updates about the disease or adding to the conversation on social media (#NASHday). The movement permeates the globe through many locally-organized events to educate about, screen for, and prevent NASH.

NASH (nonalcoholic steatohepatitis) is a serious, progressive condition in which too much fat accumulates on the liver, leading to its inflammation and injury. It is the severe form of NAFLD (nonalcoholic fatty liver disease). Modern lifestyle and dietary patterns have contributed to increased prevalence of NASH and NAFLD around the world, and it is becoming the most common cause of liver disease. Given its widespread impact and the possibility of prevention in most cases of this disease, NASH emerges as a global health priority.

“With over a hundred million people worldwide already who have NASH and several times more in the earlier stages, people have reason to know about this progressive condition and what they can do today to combat it,” shared Donna R. Cryer, president and CEO of GLI. “Collective action is imperative to be certain that individuals in each community, no matter their background or environment, are informed and equipped to prevent fatty liver disease. The momentum that we build together today must advance and sustain the global fight against NASH.”

If you didn’t know, then now you know! Even though NASH is common, it remains relatively unknown, leaving much work to be done to increase public awareness. This year, GLI and its partners join with the theme to #StopNASHNow: Even as therapies for NASH are being developed, there are many steps that people and their doctors can take today to prevent, reverse, or slow the progression of fatty liver disease. For the 25% of adults already affected worldwide, it is due time for this life-changing knowledge.

An estimated 1 in 4 adults around the world already has NAFLD.
As many as 1 in 20 people has NASH.
The prevalence of NAFLD is increasing among all global regions and among all ethnicities in parallel with diabetes and obesity.
NASH can progress to cirrhosis or liver cancer – which may necessitate a liver transplant.

“International NASH Day demonstrates the potential that is realized as all stakeholders in NASH come together worldwide,” said Jeff McIntyre, NASH Programs Director at GLI. “From in-person screenings in at-risk communities to educational materials in 16 languages to challenging conversations with researchers, providers, and patients – today the world joins to create meaningful solutions for patients at every stage of NAFLD and NASH.”

International NASH Day has garnered the endorsement of prominent organizations from around the globe: American Association for the Study of Liver Diseases (AASLD); Association of Black Gastroenterologists and Hepatologists (ABGH); Asociación Latinoamericana para el Estudio del Hígado (ALEH); Associazione Italiana Studio del Fegato (AISF); Asociación Mexicana de Hepatología (AMH); Asian Pacific Association for the Study of the Liver (APASL); Canadian Association for the Study of the Liver (CASL); Conference on Liver Disease in Africa (COLDA); European African Treatment Advocates Network (EATAN); European Fatty Liver Conference (EFLC); European Society for Paediatric Gastroenterology Hepatology and Nutrition (ESPGHAN); EU Patient-Centric Clinical Trial Platforms (EU-PEARL); Fondazione Epatocentro Ticino; Hepatology Society, Dhaka, Bangladesh; Hepatology Society of the Philippines (HSP); Indian National Association for the Study of the Liver (INASL); North American Society For Pediatric Gastroenterology, Hepatology & Nutrition (NASPGHAN); Sociedad Argentina de Hepatologia (SAHE);Turkish Association for the Study of the Liver (TASL); United European Gastroenterology (UEG); World Gastroenterology Organisation (WGO); and World Patients Alliance (WPA).

Get Involved

To view the expert panels throughout the day today, visit https://hopin.com/events/5th-annual-international-nash-day/registration. Panels are available in English, French, Hindi, Mandarin, and Spanish throughout the day.

For additional information on International NASH Day, visit www.international-nash-day.com.

Support the NASH Day social media campaign using hashtags #NASHday #StopNASHNow. Please direct any additional questions to NASHDay@globalliver.org.

International NASH Day and its logo are registered trademarks of Global Liver Institute.

About Global Liver Institute

Global Liver Institute (GLI) is a 501(c)3 nonprofit organization founded in the belief that liver health must take its place on the global public health agenda commensurate with the prevalence and impact of liver illness. GLI promotes innovation, encourages collaboration, and supports the scaling of optimal approaches to help eradicate liver diseases. Operating globally, GLI is committed to solving the problems that matter to liver patients and equipping advocates to improve the lives of individuals and families impacted by liver disease. Follow GLI on Twitter, Facebook, Instagram, LinkedIn, and YouTube. GLI is the global host of International NASH Day.

Global Liver Institute
nashday@globalliver.org

June 9, 2022

ROSEN, A TOP RANKED LAW FIRM, Encourages Credit Suisse Group AG Investors to Secure Counsel Before Important Deadline in Securities Class Action – CS

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Credit Suisse Group AG (NYSE: CS) between March 19, 2021 and March 25, 2022, inclusive (the “Class Period”), of the important June 28, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Credit Suisse 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 Credit Suisse class action, go to https://rosenlegal.com/submit-form/?case_id=5868 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 June 28, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Credit Suisse had deficient disclosure controls and procedures and internal control over financial reporting; (2) Credit Suisse’s practice of lending money to Russian oligarchs subject to U.S. and international sanctions created a significant risk of violating rules pertaining to those sanctions and future sanctions; (3) the foregoing conduct subjected the Company to an increased risk of heightened regulatory scrutiny and/or enforcement actions; (4) a synthetic securitization deal, in which Credit Suisse sold off $80 million worth of risk related to a $2 billion portfolio of loans backed by assets owned by certain of the bank’s ultra-high net worth clients (the “Securitization Deal”) concerned loans that Credit Suisse made to Russian oligarchs previously sanctioned by the U.S.; (5) the purpose of the Securitization Deal was to offload the risks associated with these loans and mitigate the impact on Credit Suisse of sanctions likely to be implemented by Western nations in response to Russia’s invasion of Ukraine; (6) Credit Suisse’s request that non-participating investors destroy documents related to the Securitization Deal was intended to conceal the Company’s noncompliance with U.S. and international sanctions in its lending practices; (7) the foregoing, once revealed, was likely to subject the Company to enhanced regulatory scrutiny and significant reputational harm; and (8) as a result, the Company’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 Credit Suisse class action, go to https://rosenlegal.com/submit-form/?case_id=5868 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.

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June 9, 2022

ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Aurinia Pharmaceuticals Inc. Investors with Losses to Secure Counsel Before Important June 14 Deadline in Securities Class Action – AUPH

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) between May 7, 2021 and February 25, 2022, inclusive (the “Class Period”), of the important June 14, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Aurinia 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 Aurinia class action, go to https://rosenlegal.com/submit-form/?case_id=3851 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 June 14, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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) Aurinia was experiencing declining revenues; (2) Aurinia’s 2022 sales outlook for LUPKYNIS would fall well short of expectations; (3) accordingly, Aurinia had significantly overstated LUPKYNIS’s commercial prospects; (4) as a result, Aurinia had overstated its financial position and/or prospects for 2022; and (5) as a result, defendants’ 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 Aurinia class action, go to https://rosenlegal.com/submit-form/?case_id=3851 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.

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/.

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