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ZODIAC

Found 20 results

  1. Non-resident Pakistani businessmen must now file their income tax returns regardless of the length of their stay in Pakistan
  2. ?Apparently, it is a stabilisation budget and not an expansionary budget as presented by the previous government," says Topline CEO
  3. ?Apparently, it is a stabilisation budget and not an expansionary budget as presented by the previous government," says Topline CEO
  4. Pakistan?s energy sector, with its vast potential in hydel, thermal, coal, wind, and solar areas, could prove ideal for Turkish investors, says PM
  5. "It is high time gas be returned to Sindh which, despite producing 76% of country?s overall gas, remains deprived"
  6. Federal Finance Minister Shaukat Tarin presented the federal budget 2021-22 in the National Assembly a day earlier
  7. The stock exchange would not show a positive trend if NAB was creating problems, retired Justice Javed Iqbal says
  8. The devastation left in the wake of the deadly Kerala floods is unprecedented, but people across the nation and the world are coming together, proving that humanity has the power to overcome calamities. From relentless rescue missions to donations in cash and kind, aid is pouring in and our nation has joined hands in this battle of saving lives and providing relief to crores of people. Now, the Gulf nations have also extended their help and are doing their bit by announcing their contribution for the flood-hit state. The Ruler of Dubai and the Vice President of the UAE, Sheikh Mohammed bin Rashid Al Maktoum tweeted and urged people in the UAE to contribute towards the relief. UAE and the Indian community will unite to offer relief to those affected. We have formed a committee to start immediately. We urge everyone to contribute generously towards this initiative. pic.twitter.com/7a4bHadWqa — HH Sheikh Mohammed (@HHShkMohd) August 17, 2018 UAE president Khalifa bin Zayed Ali Nahyan announced a committee that was formed to consolidate funds for the cause. Full page advertisement in Gulf News & Khaleej Times by the govt of UAE calling upon all individuals and businesses in UAE to be part of the relief effort for those affected by #KeralaFlood pic.twitter.com/GZrH57IDxI — SamSays (@samjawed65) August 19, 2018 Three Indian-origin businessmen in UAE came together and made a contribution of approximately 12 crore rupees towards the relief fund. Yusuff Ali MA, who is the chairman and managing director of the Lulu Group, announced a â¹ 50 million donation. K.P. Hussain, who is the chairman of Fathima Healthcare Group, has donated â¹ 50 million as well. After this wonderful initiative, Qatar came forward as well to extend its support for India and declared a donation of $ 5 million. $5 Million in Aid for people Affected by floods in #India's #Kerala #MOFAQatar pic.twitter.com/oDsbT4XdC4 — MOFA - Qatar (@MofaQatar_EN) August 19, 2018 A lot of relief material was transported from Qatar to India using their national carrier. #QatarAirwaysCargo offers relief to flood-hit Kerala by transporting donations from Doha this Eid al-Adha. #Movedbypeople pic.twitter.com/x5u3MAJzKH — Qatar Airways (@qatarairways) August 19, 2018 The floods may have receded at the moment, but the real challenge begins now, as many survivors are facing the hearculean ordeal of having to rebuild their lives from scratch and they need all the help they can get.
  9. Saudi King Salman bin Abdulaziz Al Saud poses for a photo with National Guard Minister Khaled bin Ayyaf and Economy Minister Mohammed al-Tuwaijri during a swearing-in ceremony in Riyadh, Saudi Arabia, November 6, 2017. Saudi Press Agency (SPA)/Handout via REUTERS RIYADH: A campaign of mass arrests of Saudi Arabian royals, ministers, and businessmen expanded on Monday after a top entrepreneur was reportedly detained in the biggest anti-corruption purge of the kingdom?s affluent elite in its modern history. The reported arrest of Nasser bin Aqeel al-Tayyar followed the detention of dozens of top Saudis, including billionaire investor Prince Alwaleed bin Talal in a crackdown that the attorney general described as ?phase one?. The purge is the latest in a series of dramatic steps by Crown Prince Mohammed bin Salman to assert Saudi influence internationally and amass more power for himself at home. The campaign lengthens an already daunting list of challenges undertaken by the 32-year-old since King Salman ? his father ? ascended the throne in 2015, including going to war in Yemen, cranking up Riyadh?s confrontation with arch-foe Iran, and reforming the economy to lessen its reliance on oil. Both allies and adversaries are quietly astounded that a kingdom once obsessed with stability has acquired such a taste for assertive ? some would say impulsive ? policy-making. ?The kingdom is at a crossroads: Its economy has flatlined with low oil prices; the war in Yemen is a quagmire; the blockade of Qatar is a failure; Iranian influence is rampant in Lebanon, Syria and Iraq; and the succession is a question mark,? Bruce Riedel ? an ex-CIA official ? wrote. ?It is the most volatile period in Saudi history in over a half-century.? The crackdown has drawn no public opposition within the kingdom either on the street or social media. Many ordinary Saudis applauded the arrests, the latest in a string of domestic and international moves asserting the prince?s authority. But abroad, critics perceive the purge as further evidence of intolerance from a power-hungry leader keen to stop influential opponents blocking his economic reforms or reversing the expansion of his political clout. Prominent Saudi columnist Jamal Kashoggi applauded the campaign, but warned, ?He is imposing very selective justice.? ?The crackdown on even the most constructive criticism ? the demand for complete loyalty with a significant ?or else? ? remains a serious challenge to the crown prince?s desire to be seen as a modern, enlightened leader.? ?The buck stops at the leader?s door. He is not above the standard he is now setting for the rest of his family, and for the country,? he wrote in the Washington Post. Accounts frozen The Saudi stock index initially fell 1.5 percent in early trade but closed effectively flat, which asset managers attributed to buying by government-linked funds. Al Tayyar Travel plunged 10 percent in the opening minutes after the company quoted media reports as saying board member Nasser bin Aqeel al-Tayyar had been detained in the anti-corruption drive. Saudi Aseer Trading, Tourism and Manufacturing, and the Red Sea International separately reported normal operations after the reported detentions of board members Abdullah Saleh Kamel, Khalid al-Mulheim, and Amr al-Dabbagh. Saudi banks have begun freezing suspects? accounts, sources told Reuters. Dozens of people have been detained in the crackdown, alarming much of the traditional business establishment. Billionaire Prince Alwaleed bin Talal ? Saudi Arabia?s best-known international investor ? is also being held. The attorney general said on Monday detainees had been questioned and ?a great deal of evidence? had been gathered. ?Yesterday does not represent the start, but the completion of Phase One of our anti-corruption push,? Saud al-Mojeb said. Probes were done discreetly ?to preserve the integrity of the legal proceedings and ensure there was no flight from justice?. Investigators had been collecting evidence for three years and would ?continue to identify culprits, issue arrest warrants, and travel restrictions and bring offenders to justice?, anti-graft committee member Khalid bin Abdulmohsen Al-Mehaisen said. 'The noose tightens' The front page of leading Saudi newspaper Okaz challenged businessmen to reveal the sources of their assets, asking, ?Where did you get this?? Another headline from Saudi-owned al-Hayat warned, ?After the launch (of the anti-corruption drive), the noose tightens, whomever you are!? A no-fly list has been drawn up and security forces in some Saudi airports were barring owners of private jets from taking off without a permit, pan-Arab daily Al-Asharq Al-Awsat said. Among those detained are 11 princes, four ministers, and tens of former ministers, according to Saudi officials. ?It?s mostly princes from the previous system who made a lot of money in business. That?s the common denominator,? Steffen Hertog of the London School of Economics (LSE) told Reuters. ?Perhaps they can?t go after all at the same time so possibly ones who are least popular or have a beef with the current leadership (have been held). It?s pretty systematic.? The allegations include money laundering, bribery, extortion, and taking advantage of public office for personal gain, a Saudi official told Reuters. Those accusations could not be independently verified and family members of those detained could not be reached. The new anti-corruption committee has the power to seize assets at home and abroad before the results of its investigations are known. Investors worry the crackdown could ultimately result in forced sales of equities, but the extent of the authorities? intentions was not immediately clear. 'Overkill' Among those detained is Prince Miteb bin Abdullah, who was replaced as minister of the National Guard, a pivotal power base rooted in the kingdom?s tribes. That recalled a palace coup in June that ousted his elder cousin ? Mohammed bin Nayef ? as heir to the throne. The moves consolidate Prince Mohammed?s control of the internal security and military institutions, which had long been headed by separate powerful branches of the ruling family. Consultancy Eurasia Group said the ?clearly politicized? anti-corruption campaign was a step toward separating the Al Saud family from the state, ?Royal family members have lost their immunity, a long-standing golden guarantee?. Yet many analysts were puzzled by the targeting of technocrats like ousted Economy Minister Adel Faqih and prominent businessmen on whom the kingdom is counting to boost the private sector and wean the economy off oil. ?It seems to run so counter to the long-term goal of foreign investment and more domestic investment and a strengthened private sector,? Greg Gause ? a Gulf expert at Texas A&M University ? said. ?If your goal really is anti-corruption, then you bring some cases. You don?t just arrest a bunch of really high-ranking people and emphasize that the rule of law is not really what guides your actions.? Over the past year, MbS has become the top decision-maker on military, foreign and economic policy, championing subsidy cuts, state asset sales and a government efficiency drive. The reforms have been well-received by much of Saudi Arabia?s overwhelmingly young population, but resented among some of the more conservative old guard. The crown prince has also led Saudi Arabia into a two-year-old war in Yemen, where the government says it is fighting Iran-aligned militants, and into a dispute with Qatar, which it accuses of backing terrorists, a charge Doha denies. Detractors of the crown prince say both moves are dangerous adventurism. The Saudi-led military coalition said on Monday it would temporarily close all air, land, and sea ports to Yemen to stem the flow of arms from Iran to Houthi rebels after a missile fired toward Riyadh was intercepted over the weekend.
  10. A stock exchange information is seen on a screen is seen as a man works on the trading floor at the Dubai Financial Market April 29, 2012. Photo: Reuters DUBAI: Saudi Arabia?s stock market fell in early trade on Sunday after Crown Prince Mohammed bin Salman moved to consolidate his power and crack down on corruption with a cabinet reshuffle and a string of detentions of prominent figures. The Saudi equities index (TASI) was down 1.0 per cent after 25 minutes of trade as declining stocks overwhelmed advancers by 155 to 15. Investment firm Kingdom Holding, owned by billionaire Prince Alwaleed bin Talal, who was one of those detained, plunged 9.9 per cent. Shares in National Industrialization Co (Tasnee), in which Kingdom holds a 6.2 per cent stake, fell 1.3 per cent and Banque Saudi Fransi, in which Kingdom bought a 16.2 per cent stake in September, sank 2.8 per cent. However, much of the market escaped panic selling and some blue chips were little changed, with top petrochemical producer Saudi Basic Industries down only 0.2 per cent. Saudi-owned Al Arabiya television reported a new anti-corruption committee chaired by Prince Mohammed had detained 11 princes, four current ministers and tens of former ministers, as well as several senior businessmen. Analysts said the news worried the stock market because businessmen implicated in the probe might end up having to sell some of their equity holdings, which could temporarily at least weaken prices. New investment in the market by the businessmen could shrink. However, they said local investors might ultimately welcome the prospect of Prince Mohammed increasing his power and reducing uncertainty about his authority. Economic reforms such as privatisation and development projects could potentially now move faster. Elsewhere in the Gulf, Dubai?s stock market fell 0.9 per cent as the most heavily traded stock, Deyaar Development, lost 1.9 per cent. Qatar?s stock index dropped 0.6 per cent in a broad-based decline, with nine of the 10 most active stocks weaker.
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