June 12, 2023 – MediaLine Pakistan

June 12, 2023

Toast Selects FreedomPay as its Preferred Payments Partner for Global Enterprise Merchants

Toast will now enable enterprise merchants to combine FreedomPay’s best-in-class global Commerce Platform with its leading restaurant digital platform

Philadelphia, Pennsylvania, June 12, 2023 (GLOBE NEWSWIRE) — FreedomPay, the world’s leading independent commerce platform and Toast, the all-in-one digital platform built for the entire restaurant community, signed a partnership agreement making FreedomPay Toast’s preferred payments gateway partner for select enterprise brands.

Toast will be able to offer its cloud-based digital platform for restaurants to leading enterprise merchants in the U.S. and Canada who are on the award-winning FreedomPay Commerce Platform.

Kelly Esten, Senior Vice President and General Manager, Enterprise at Toast stated: “As the restaurant industry rapidly adapts to new service models, Toast continues to deliver the industry’s trusted digital platform to help restaurants of all sizes and types—including franchisees—drive profitability, create the streamlined dining experiences guests expect, and make managing food service operations across properties easier than ever. We look forward to partnering with FreedomPay as we drive our enterprise expansion.”

FreedomPay Senior Vice President, Sales & Digital Development Nate Ware added: “This exciting collaboration between FreedomPay and Toast delivers advanced capabilities to large merchants. We are quite simply ‘unleashing the power of pay’ to thousands more businesses to help support Toast’s growth across enterprise level merchant solutions.”

FreedomPay is one of the world’s fastest growing Fintechs, innovating and transforming commerce to Next Level payment solutions. FreedomPay is aggressively expanding in new markets including the Middle East, South America, Africa and APAC. FreedomPay has recently been named one of the Fastest Growing FinTechs to Watch in 2022 and is a finalist for the Best Payment System in the PayTech Awards, London 2023.

FreedomPay and Toast will be exhibiting together at HITEC in Toronto, June 26-29. Visit booth 516/518 to learn more.

About FreedomPay
FreedomPay’s Next Level Commerce platform transforms existing payment systems and processes from legacy to leading edge. As the premier choice for many of the largest companies across the globe in retail, hospitality, lodging, gaming, sports and entertainment, foodservice, education, healthcare and financial services, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce. The company maintains a world-class security environment and was first to earn the coveted validation by the PCI Security Standards Council against Point-to-Point Encryption (P2PE/EMV) standard in North America. FreedomPay’s robust solutions across payments, security, identity, and data analytics are available in-store, online and on-mobile and are supported by rapid API adoption. The award winning FreedomPay Commerce Platform operates on a single, unified technology stack across multiple continents allowing enterprises to deliver an innovative Next Level experience on a global scale. www.freedompay.com

Jennifer Tayebi
Hill+Knowlton Strategies for FreedomPay
+1 734 395 0780
jennifer.tayebi@hkstrategies.com

GlobeNewswire Distribution ID 8856540

June 12, 2023

Dominica Ranks as Safest Country in the Caribbean in 2023 World Citizenship Report: CS Global Partners

London, June 12, 2023 (GLOBE NEWSWIRE) — The Commonwealth of Dominica has been crowned as the safest place in the Caribbean in the second annual World Citizenship Report published by the world’s leading government advisory and marketing firm, CS Global Partners.

Using data from the World Citizenship Index (WCI), the World Citizenship Report’s data-driven tool which measures 188 countries across five motivators most relevant to the mass affluent, the Nature Isle topped the Safety and Security pillar in the region with a score of 76.9, bringing it to the 38th safest place in the international arena.

In the Caribbean, Grenada (46), St Kitts and Nevis (48), Saint Lucia (50) and Antigua and Barbuda (52) followed Dominica’s safety and security rank of 38. Iceland (1), New Zealand (2) and Switzerland (3) kept their top rankings globally for the second year in a row, while economic giants like the US (65) and China (111) trailed much further behind Dominica.

Dominica continues to place emphasis on physical safety, rule of law, and political stability and ranks high in categories like voice and accountability, where citizens feel empowered to hold leaders accountable to their demands and needs.

The post-pandemic return to ‘normal’ has been marred by generational inflation, broader macroeconomic volatility as well as the geopolitical instability stemming from the crisis in Ukraine – which has threatened to upend the ‘Long Peace’ enjoyed since the end of WWII.

The resultant supply chain, energy, and political pressures have pushed the global economy closer to a recession and are forcing governments to enact monetary and fiscal policy changes that are pressurising households the world over. Perhaps more importantly, the upheaval of the last two years that has engendered both restrictions on local and international movement and increased economic headwinds have compelled the world’s citizens to reappraise their relationship with their own governments with respect to freedom, safety, and opportunity.

The mass affluent and high-net-worth individuals (HNWIs) are looking for alternative destinations as a bolt-hole for future crises in countries that offer the freedoms that are lacking in their home nations.

With many parts of the world also experiencing an uptick in violent crime due to ineffective policies and rising inequality, smaller jurisdictions in particular are increasingly prioritising efforts to ensure the rule of law for all as part of efforts to boost tourism and attract digital nomads. In the Caribbean for example, the United Nations Office on Drugs and Crime (UNODC) data shows that St Kitts and Nevis saw a 50 per cent reduction in its average crime statistics over the past five years resulting in it being ranked among the safest islands to visit in 2023 by well-known tourist guide “Travellers Worldwide”.

Caribbean nations that offer investment migration schemes such as Dominica, offer global citizens access to some of the best travel and economic markets in the world.

Dominica began welcoming foreign nationals to obtain citizenship in 1993. The island remains politically and economically stable, with a low crime rate and rich investment opportunities.

Chantal Mabanga
CS Global Partners
+44 (0) 207 318 4343
Chantal.Mabanga@csglobalpartners.com

GlobeNewswire Distribution ID 8856088

June 12, 2023

Pakistan: How Khan crackdown imperils women in politics

As Pakistan’s government continues to crack down on supporters of former Prime Minister Imran Khan and his Pakistan Tehreek-e-Insaf (PTI) party, female supporters say the government is using the unrest to create a hostile environment for women in politics.

Khan’s arrest in May on corruption charges sparked violent protests across Pakistan, with PTI members and Khan supporters accused of vandalizing military buildings, including Pakistan’s army headquarters in the garrison city of Rawalpindi. Since then, authorities have been targeting PTI officials and supporters, promising to punish those responsible for the unrest

Khan claims more than 10,000 party members and workers have been arrested and accuses the government of trying to “dismantle” his party. The government denies these claims and puts the number of arrested at much lower. According to Interior Minister Rana Sanaullah, 5,000 PTI workers and supporters have been arrested since May 9.

PTI women speak up about crackdown

Amid the crackdown, a number of female PTI workers claim that their fellow party workers have been threatened, arrested, beaten and harassed.

Kanwal Shauzab, president of the PTI’s women wing, told DW that she witnessed police brutality.

Shauzab said several female supporters who were peacefully protesting on May 9 were beaten and taken away by police. She added that one of her friends returned from detainment with bite marks all over her body, which she hid from her family members.

“She comes from a respectable family, and the entire family has been in trauma,” she said.

Tehmina Faheem, district president of the PTI for the city of Abbotabad, told DW many women working for the PTI have left their jobs out of fear.

She added that if the workers show up at their offices, they will be identified by police, and could be subject to raids.

She said that female party workers who were running beauty parlors, marriage bureaus and other small business have lost their sources of livelihood.

“The fear of arrests and raids is so profound that they cannot go and work at their businesses,” she said.

Fauzia Kalsoom Rana, an Islamabad-based based journalist and analyst, told DW she has witnessed how authorities raided the homes of PTI women, while harassing and bullying them.

“This has forced them to hide here and there, changing their location. What is more disturbing is that they are also being declared traitors and being pressured into leaving Imran Khan.”

Yasmin Lehri, a Quetta-based activist from Pakistan’s western province, said that although the authorities’ actions were triggered by the pro-PTI unrest, the heavy response, especially towards PTI women, cannot be justified on any ground.

“The way they were kicked out of their homes and their families were beaten, and the way they were abducted, is condemnable,” Lehri told DW.

She added that it is the right of every political party to stage peaceful protests, and that the police cannot violate human rights of political workers in the name of crackdown.

Wider impact on women’s role in politics?

Zarqa Suharwardy Taimur, a PTI lawmaker, told DW that authorities are using all tactics to pressure women into leaving politics. He added that women in the PTI have proven more resilient than men, which he says has ushered in tougher treatment.

“PTI men are leaving the party, but women are still steadfast. A number of women have been in jail for over a month, but they’ve refused to betray Imran Khan, despite the fact that their houses were raided without any warrant and they were badly mistreated at the time of arrest.”

Taimur asserts under the law anyone arrested should appear before a magistrate within 24 hours. “But our women remained in jail or police stations for days and weeks but they were not produced before a judge.”

The PTI is seen as having brought a large number of women into politics, especially from middle, upper and sections of the elite classes.

The party also sent a number of women to parliament, and some of them also held important ministerial posts.

PTI district president Faheem said that women who are taken to jail or police stations are often maligned in Pakistan’s patriarchal society.

“People taunt them saying cops must have done something with them,” she told DW, adding unmarried women might not get marriage proposals, and married women could have their marriages ruined. This leads to men forbidding their wives or female family members from participating in politics, Faheem said.

PTI’s women’s wing leader Shauzab believes that politics requires a lot of mobility, and in Pakistan, “women are dependent on men economically and financially, even for mobility they are dependent on men.”

“After this crackdown, they won’t take them to take part in political gatherings,” she added.

Government denies crackdown claims

Pakistan’s government has denied that women are being targeted in the crackdown, saying claims to this effect are “PTI propaganda.”

Punjab government spokesman Amir Mir said no women have been mistreated. He told DW that 300 women were identified for sabotage activities, adding 46 were arrested and 29 have been released on bail.

“Women were treated according to laws. Some of them were not allowed to meet relatives because of the laws,” he said.

Muhammad Jalal-ud-din, a leader in Pakistan’s ruling Pakistan Democratic Movement (PDM) alliance, told DW that the PTI is following the law in cracking down on both men and women who commit crimes.

“Laws are clear whether it is women or men when they commit crimes, they will be punished,” he said, adding that since women were involved in attacking military installations they will be prosecuted and punished under the law.

“The PTI is spreading malicious propaganda. Arrested women are being treated according to the laws. No woman was tortured or harassed. It is all Imran Khan’s propaganda to defame Pakistan,” he said.

Source: Deutsche Welle

June 12, 2023

Bhanero Textile Mills Approves Scheme of Arrangement for Demerger and Merger with Bhanero Energy Ltd Unit I

Karachi, In a recent board meeting held on June 10, 2023, Bhanero Textile Mills Ltd announced the unanimous approval and adoption of the Scheme of Arrangement between the company and Bhanero Energy Ltd Unit I (BEL-I), as sanctioned by the Sindh High Court Order Number JCM 10 of 2022.

Under the scheme, the BEL-I Kotri Unit Undertaking will be demerged from Bhanero Energy Ltd (BEL) and merged into Bhanero Textile Mills Ltd. This strategic move aims to streamline operations and enhance efficiency within the organization.

As part of the arrangement, Bhanero Textile Mills Ltd will issue 40,964 shares to the shareholders of BEL in proportion to their respective shareholdings in BEL. Simultaneously, there will be a cancellation of 5.99% of the shareholding of each BEL shareholder, resulting in a reduction of BEL’s issued and paid-up share capital.

It is important to note that fractional shares will not be issued under the Scheme. Instead, all fractional shares will be consolidated into whole shares, which will be issued to any of the company’s directors. These directors will then be entrusted to sell the consolidated shares and donate the proceeds, after deducting related expenses, to a charitable institution.

A separate notice will be issued to inform shareholders about the book closure for the issuance of shares under the Scheme. The guidelines provided by the Central Depository Company (CDC), Pakistan Stock Exchange (PSX), and the share registrar will be followed in this process.

Furthermore, the board of directors has authorized Mr. Mohammad Salim and Mr. Muhammad Shaheen, directors of Bhanero Textile Mills Ltd, to complete the necessary legal and regulatory compliance in accordance with the Scheme sanctioned by the Court. The authorized directors may delegate their powers to suitable individuals as they deem appropriate for the aforementioned purpose.

It is worth mentioning that the stock symbol of Bhanero Textile Mills Ltd, identified as ‘BHAT,’ will remain unchanged. This development marks a significant step forward for the company, as it seeks to strengthen its position in the industry through strategic restructuring.

June 12, 2023

National Investment Trust Limited’s Board of Directors Meeting to Discuss Interim Dividend for NIT Pakistan Gateway ETF

Karachi, In an upcoming Board of Directors meeting scheduled for June 15, 2023, the National Investment Trust Limited (NIT) will address various matters, including the consideration of an Interim Dividend for the NIT Pakistan Gateway Exchange Traded Fund (NITPG-ETF).

During the meeting, the board members, led by Chairman Mr. Faisal Arjumand and Ms. Anisa Panjwani, will discuss the dividend proposal and evaluate its feasibility. To ensure effective communication, interested parties are requested to contact the Exchange through telephone numbers 32421510 and 32466337. Furthermore, after transmitting the necessary documents via fax at the UAN Fax No. 111-573-329, individuals can reach out to the Exchange at phone numbers 32439618 and 35274381.

June 12, 2023

Share Capital Increase Approved through Postal Voting at Extraordinary General Meeting

Karachi, In a significant development, shareholders of a prominent company have approved a special resolution to increase the authorized share capital from PKR 120.00 million to PKR 14.00 billion. The decision was reached during the Extraordinary General Meeting held on Friday, June 23rd, 2023, at the company’s Registered Office in Karachi.

The members, granting their consent through a ballot paper voting process, endorsed the resolution, which also includes amendments to the memorandum and article of association. These changes will facilitate the implementation of the increased authorized share capital.

Furthermore, the Board of Directors was empowered by another resolution to capitalize the sum currently held in any reserve fund or reserve account of the company. This includes premiums received from shares or debenture issuance, as well as undivided net profits. The capitalized sum will be appropriately distributed among ordinary shareholders as bonus shares or debentures, with the distribution proportional to their existing holdings.

To ensure smooth execution, the Directors have been granted the authority to address any difficulties arising from this distribution. They may determine the value of fully paid-up shares or debentures, make cash payments to shareholders, or vest the shares or debentures in trustees for the benefit of the entitled parties. These measures aim to ensure fairness and efficiency in the allocation and distribution process.

In line with the Companies Act of 2017, the additional shares to be issued will carry equal voting rights and rank pari passu with the existing ordinary shares. This equal treatment aims to safeguard the interests and rights of all shareholders.

It should be noted that the alterations made to the company’s articles of association will be subject to any necessary amendments, modifications, additions, or deletions. However, such changes will not require fresh approval from the members in a general meeting.

To give effect to the resolutions, the Chief Executive Officer and/or Company Secretary of the company has been granted sole authorization to undertake all necessary steps. This includes executing legal and corporate formalities, as well as filing requisite documents with the Securities &amp;amp;amp;amp;amp; Exchange Commission of Pakistan.

The shareholders’ overwhelming support for these resolutions demonstrates their confidence in the company’s future prospects and its ability to drive growth in the market. With the increased authorized share capital, the company is well-positioned to pursue strategic initiatives and expand its operations in the coming years.

June 12, 2023

Apna Microfinance Bank Announces Twentieth Annual General Meeting

Karachi, Apna Microfinance Bank Limited has issued a notice for its Twentieth Annual General Meeting, scheduled to take place on July 5, 2023, in Karachi. The meeting aims to address various important matters, including the confirmation of minutes from the previous Annual General Meeting and the adoption of the Annual Audited Financial Statements for the year ended December 31, 2022, along with the respective reports.

One of the crucial items on the agenda is the review and consideration of the appointment of RSM Avais Hyder Liaquat Nauman, Chartered Accountant, as the bank’s auditors for the year ending December 31, 2023. The proposed appointment by the Board of Directors will also include determining their remuneration.

Furthermore, the notice highlights that the Share Transfer Book of the company will remain closed from June 29, 2023, to July 5, 2023, both days inclusive. This closure period indicates the temporary suspension of share transfers during this period.

June 12, 2023

13 Killed, 41 Injured In Two Road Accidents In Pakistan

At least 13 people were killed and around 41 others injured today, in two separate road accidents in Pakistan, the rescue service and authorities reported.

The authorities said that, at least nine people were killed and 18 others were injured early this morning, when a bus fell into a deep ravine in Kotli district of Pakistan-controlled Kashmir.

According to reports, around 35 passengers were in the bus, who were returning to Gujranwala city of Pakistan’s eastern Punjab province, after attending a religious ceremony at the Nairian area.

Separately, four people were killed and 23 others injured, in the wee hours of this morning, in Sheikhupura district of Punjab, after a bus turned turtle due to over-speeding, while taking a turn at Sheikhupura Motorway, the rescue service reported.

Rescuers have reached the sites of the two accidents and shifted the victims to local hospitals, according to the rescue service

Source: Nam News Network