Broadsheet threatens action unless Rs481m paid
Top Story
February 3, 2021
LONDON: The Broadsheet LLC has threatened to commence further enforcement action against the assets of Pakistan if an estimated amount of $2.2 million (Rs481 million) towards accrued interest, outstanding judgment debt and legal costs is not paid without delay. This correspondent has obtained extensive communication of the last two weeks between Pakistan’s lawyers at Allen & Overy and Broadsheet’s lawyers at Crowell & Moring. The Broadsheet has asked Pakistan to immediately pay the following amounts: $1,180,799 in respect of further interest owed by Pakistan on judgment debts, accrued after the issue of Broadsheet’s third party debt order on partial payment by funds received from United National Bank on December 31, 2020; $40,677 being the balance of the judgment debt remaining unsatisfied; $5,889 interest accrued on the balance of the judgment debt being and continuing to accrue at the daily rate of
UBL Introduces WhatsApp Banking Services
United Bank Limited (UBL) Pakistan’s Best Digital Bank 2020 (as declared by the Pakistan Banking Awards) is always ahead of the curve in terms of the technological ability of its products and services. The bank has brought forth several innovations to serve the financial needs of the people of Pakistan.
In keeping with its brand attributes of being the country’s leading progressive and innovative bank, UBL, in collaboration with Infobip, has introduced another financial convenience for its over 10 million customers – WhatsApp Banking.
This is a self-service option for all of its customers to deliver an interactive customer solution for all their banking queries on their most preferred communication channel.
KARACHI: The Federal Investigation Agency has started the process of attaching properties owned by the Shaheen Airlines International (SAI), whose licence has been suspended since 2018, as part of its investigations into a money laundering case against the management, it emerged on Friday.
According to officials and documents reviewed by Dawn, the FIA registered a case against SAI in 2020 for causing a loss of Rs2.1 billion to the Civil Aviation Authority.
Besides, the airline was also accused of causing a loss of Rs200 million to Sialkot Airport, FIA deputy director Rauf Sheikh said.
Money laundering case lodged against jewellery exporter
The airline had also committed ‘wilful default’ amounting to Rs11bn against the Habib Bank Limited and Rs50m wilful default against the United Bank Limited, he said, adding the owners established firms in the UAE and purchased properties in Pakistan and abroad with this money.
dMotors Emerges as a Growing Channel for Online Sales of Motorbikes During Grand Auto Bazaar on Daraz
As Pakistan’s largest e-commerce and shopping platform, Daraz has played a major role in the advancement of online shopping, creating new opportunities and avenues for businesses to connect with their customers online. From clothes to beauty products, kitchen accessories to home appliances, Daraz is the epicenter of practically everything one can hope to buy; all coupled with astounding discounts and offers.
During the COVID-19 pandemic, online shopping in Pakistan has seen significant change, with many consumers opting to do their purchasing online in order to reduce potential exposure to the virus. As the largest and leading online marketplace in Pakistan, Daraz was perfectly positioned to meet this rising demand; consequently, the country has seen a dramatic rise in e-commerce buying.
Govt’s action, reaction in Broadsheet saga perplexing
Top Story
January 21, 2021
ISLAMABAD: As daily doses of new and interesting details of Broadsheet saga continue to pour in, the government’s attempt at damage control comes across as perplexing.
On January 6, 2021 in an inter-ministerial meeting held in the foreign ministry and attended by officials of the Foreign Office, NAB, finance ministry, the attorney general’s office and the law ministry, it was decided to send a legal notice to the United Bank Limited, UK, for “unauthorized debit of account” to pay Broadsheet “without informing” the Pakistan High Commission in London.
On Sept 14, 2020, The News published an exclusive story by its London correspondent Murtaza Ali Shah disclosing that the Pakistan Government had issued instructions to the UBL London office to make a payment of around $27 million to Broadsheet after the company had moved the London high court and obtained freezing orders on monies kept in