April 1, 2023 – MediaLine Pakistan

April 1, 2023

JS Securities Limited – Weekly Review (31 -03 -2023)

Karachi, March 31, 2023 (PPI-OT): IMF delay continues to burden the market, up 0.1% WoW

KSE100 index ended the week flat as IMF’s 9th review remains on hold due to pending assurances from friendly countries. Political noise also rose during the week as Supreme court continued hearings on the ECP’s decision to postpone the provincial assembly elections. Benchmark index closed at 40,000 points, up 0.1% WoW where Cement and Fertilizer sectors were prominent performers. On the economic front, IMF program remained stalled as the lender awaits guarantees of US$3bn from UAE and KSA.

As per the latest SBP numbers, reserves held by the State Bank of Pakistan (SBP) decreased by US$354mn to US$4.2bn owing to external debt repayment. This decline came in after six consecutive weeks of increases which were mainly on back of commercial loans from China. Pakistan has again requested China to roll over a US$2bn loan which matured last week to help the country’s dwindling reserves situation, documentation of the loan has been completed as per finance ministry. In other news, the petroleum cross subsidy scheme announced by govt of upto Rs100/litre got reportedly rejected by the IMF this week. The Fund rejected the scheme citing that further details would be needed to confirm its viability.
For more information, contact:
Head Office,
Pakistan Stock Exchange Limited
Bring Tech Pro
Stock Exchange Building, Stock Exchange Road,
Karachi-74000, Pakistan
Tel: +92-21-111-031122
Fax: +92-21-3241-0825, +92-21-3241-5136
Email: info@psx.com.pk
Website: https://www.psx.com.pk
Website: https://bringtechpro.com

The post JS Securities Limited – Weekly Review (31 -03 -2023) appeared first on Business News Pakistan.

April 1, 2023

Governments be enabled to adopt digitalization for effective governance, Executive Director emphasizes at 22nd session of UNCEPA

Islamabad, April 01, 2023 (PPI-OT): Executive Director COMSATS, Ambassador Dr. Nafees Zakaria urged that governments should adopt digitalization as citizen centric national policy for efficient and effective governance. He was addressing the 22nd Session of the Committee of Experts on Public Administration (CEPA), which is a technical advisory body of the UN responsible for supporting the work of its Economic and Social Council (ECOSOC) concerning the promotion and development of public administration and governance among Member States particularly in relation to the 2030 Agenda for Sustainable Development and in support of the implementation and review progress of SDGs.

The Executive Director COMSATS was invited to share expert views on ‘Stimulating public sector innovation through digital technology and measuring the impact of digital government. The thematic session, ‘Urgently transforming institutions for a greener, more inclusive and more resilient world at a time of multiple crises, was held yesterday at UN Headquarters, New York.

Referring to the imminent economic crisis, Ambassador Zakaria said that the real challenge would be how we use technology to lessen its impact. He suggested that digitalization should be pursued by the governments as a national policy initiative.

He noted that digitalization helped a great deal during the Pandemic COVID19, and that it bridged the work gap created by mandatory social distancing and isolation by transforming remote working to put the global economy back on track to a great extent.

Noting the widening technological gap and the capacity between the developed and developing countries, he suggested joint efforts to bridge knowledge, technology and resource gap. He remarked that COMSATS is pursuing the objective of self-reliance by way of exploiting the knowledge and scientific strengths of the COMSATS member states.

He also informed the gathering that COMSATS has launched and executed successful transformation citizen-centric programs that enable and improve collaboration between citizens, government entities, and relevant private sector industry participants, and that COMSATS is open to partnership.

For more information, contact:
Headquarters,
COMSATS
Commission on Science and Technology for Sustainable Development in the South
Shahrah-e-Jamhuriat, G-5/2, Islamabad, Pakistan
Tel: +92-51-9204900, +92-51-9214515-7
Fax: +92-51-9216539
Email: ed1@comsats.org
Website: http://comsats.org

April 1, 2023

Steps underway for providing relief to people during Ramadan: Sindh Governor

Islamabad, April 01, 2023 (PPI-OT): Governor Sindh Kamran Khan Tessori has said that steps are being taken to provide relief to the people during the holy month of Ramadan. Talking to media at Orangi town, area of Karachi today, he directed officials concerned that strict action be taken against those involved in profiteering and hoarding and overcharging the commodities of daily use by violating government rate list. He said Bachat Bazaars are being arranged across the province to provide relief to the people.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk

April 1, 2023

ROSEN, TRUSTED NATIONAL TRIAL COUNSEL, Encourages SVB Financial Group Investors to Secure Counsel Before Important Deadline in Securities Class Action Initiated by the Firm – SIVB, SIVBQ

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of SVB Financial Group (NASDAQ: SIVB) (OTC: SIVBQ) between June 16, 2021 and March 10, 2023, inclusive (the “Class Period”), of the important May 12, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased SVB 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 SVB class action, go to https://rosenlegal.com/submit-form/?case_id=12882 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 May 12, 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) the Company failed to disclose to investors the risks presented by impending rising interest rates; (2) the Company failed to disclose to investors that, in an environment with high interest rates, it would be worse off than banks that did not cater to tech startups and venture capital-backed companies; (3) the Company failed to disclose that, if its investments were negatively affected by rising interest rates, it was particularly susceptible to a bank run on Silicon Valley Bank; (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the SVB class action, go to https://rosenlegal.com/submit-form/?case_id=12882 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 8799796

April 1, 2023

GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Stanley Black & Decker, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – SWK

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the common stock of Stanley Black & Decker, Inc. (NYSE: SWK) between October 28, 2021 and July 28, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 23, 2023.

SO WHAT: If you purchased Stanley Black & Decker common stock 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 Stanley Black & Decker class action, go to https://rosenlegal.com/submit-form/?case_id=13771 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 May 23, 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. 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) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding then heightened demand for Stanley’s tools and outdoor products; (2) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 and 2022 was returning to 2019 pre-pandemic levels; (3) Stanley’s operations were already showing signs of slowing demand; (4) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; (5) as a result of Stanley’s inability to react to a sharp decline in demand, the Company’s results and metrics, particularly sales volume, were severely negatively impacted; and (6) 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 Stanley Black & Decker class action, go to https://rosenlegal.com/submit-form/?case_id=13771 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/.

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

——————————–

Contact Information:

GlobeNewswire Distribution ID 8799816

April 1, 2023

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Signature Bank Investors to Secure Counsel Before Important Deadline in Securities Class Action Filed by the Firm – SBNY, SBNYP

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Signature Bank (NASDAQ: SBNY, SBNYP) between March 2, 2023 and March 12, 2023, both dates inclusive (the “Class Period”), of the important May 15, 2023 lead plaintiff deadline, in the securities class action commenced by the Firm.

SO WHAT: If you purchased Signature Bank 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 Signature Bank class action, go to https://rosenlegal.com/submit-form/?case_id=12988 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 May 15, 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. Many of these firms do not actually litigate securities class actions. 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, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose, among other things, that: (1) Signature Bank did not have the strong fundamentals that it represented itself as having in the days immediately prior to its takeover, or otherwise took action that left it susceptible to a takeover by the New York Department of Financial Services (“DFS”); (2) as a result, it became a target for regulatory action by the DFS, and (3) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Signature Bank class action, go to https://rosenlegal.com/submit-form/?case_id=12988 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 or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. 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. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

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, 40^th 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 8799836

April 1, 2023

RVYL FINAL DEADLINE NOTICE: ROSEN, A TOP RANKED LAW FIRM, Encourages RYVYL Inc. f/k/a Greenbox POS Investors to Secure Counsel Before Important April 3 Deadline in Securities Class Action Filed by the Firm – RVYL, GBOX

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Ryvyl Inc. f/k/a Greenbox POS (NASDAQ: RVYL, GBOX): (i) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s January 29, 2021 public offering (the “Offering”); and/or (ii) between January 29, 2021 and January 20, 2023, both dates inclusive (the “Class Period”), of the April 3, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Ryvyl 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 Ryvyl class action, go to https://rosenlegal.com/submit-form/?case_id=11425 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 April 3, 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, the Registration Statement was false and/or misleading and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; and (4) as a result, the Registration Statement was materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Ryvyl class action, go to https://rosenlegal.com/submit-form/?case_id=11425 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/.

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

——————————–

Contact Information:

GlobeNewswire Distribution ID 8799783

April 1, 2023

Indian government official accuses Kiev of ‘assault on Hindu sentiment’

The Ukrainian Defense Ministry has offended Hindu sentiment by tweeting a caricature of the Hindu goddess Kali, Senior Advisor at the Indian Ministry of Information and Broadcasting Kanchan Gupta has said.

The backlash from Gupta and other Indians prompted Kiev to delete the controversial image shortly after it was posted on Sunday.

The tweet in question included a drawing by Ukrainian artist Maksym Palenko, accompanied by a short caption reading “Work of art.”

Palenko had reworked an image of an explosion to make it look like the Hindu goddess of ultimate power, time, destruction and change in a pose reminiscent of Marilyn Monroe in the 1955 movie ‘The Seven Year Itch’.

The post by the Ukrainian Defense Ministry was an example of “brazen hate speech,” Gupta wrote in a tweet. No other government had ever done such a thing regarding India, he added.

A Hindu goddess being “caricatured on a propaganda poster… is an assault on Hindu sentiments around the world,” the official insisted.

Kiev’s diplomatic advances towards India are all “fakery,” and the cartoon shows the “real face” of the Ukrainian authorities, Gupta claimed.

Despite being swiftly removed, the tweet was seen by almost a million people and made headlines in the Indian media. The Times of India newspaper described the cartoon as “offensive” in its report.

A large number of Twitter users also expressed their outrage that their revered goddess Kali had been “mocked.”

“Our faith is not a matter of joke,” one individual commented, describing the tweet as “shocking.”

Another person insisted that “hurting [the] sentiments of 1.4 billion Indians was not okay,” accusing the Ukrainian defense ministry of a “blatant display of Hinduphobia.”

Indian users also tagged Twitter CEO Elon Musk and Indian Foreign Minister Subrahmanyam Jaishankar, urging them to take action.

India, as a founder of the Non-Aligned Movement, has taken a neutral stance since the outbreak of the conflict between Russia and Ukraine in February 2022. New Delhi has abstained from UN votes on resolutions condemning Moscow’s military operation, while resisting Western pressure to implement anti-Russia sanctions.

India has also boosted trade cooperation with Moscow, angering Kiev by becoming one of the top buyers of Russian oil. In December, the Ukrainian foreign minister claimed that New Delhi was benefiting from the “suffering” of his compatriots and therefore needed to do more to help Kiev.

Source: Russia Today