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Unfreezing of PIA assets in Reko Diq case huge success: Farogh

National
May 27, 2021
ISLAMABAD: Minister for Law and Justice Dr Farogh Naseem Wednesday said the High Court of Justice in the British Virgin Islands (BVI) had unfrozen the assets of Pakistan International Airlines (PIA) after accepting the sovereign immunity of Pakistan in the Reko Diq award case.
Addressing a press conference here, he termed the decision a great victory as the BVI had sustained Pakistan’s point of view regarding sovereign immunity. He said the Supreme Court of Pakistan had suspended the Reko Diq contract with the Tethyan Copper Company over charges of corruption.
“If a contract was secured through corruption then it was not called an investment in the international law and usually the courts suspended such contracts,” he added. ....

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BVI court unfreezes PIA's assets, but $6bn award intact

LONDON: The High Court of Justice in the British Virgin Islands has recalled all its earlier orders attaching Pakistan International Airline’s offshore assets — The Roosevelt Hotel in. ....

New York , United States , United Kingdom , France General , British Virgin Islands , Reko Diq , City Of , Justice Gerhard Wallbank , Stanimir Alexandrov , Justice Farogh Naseem , Paul Pretlove , Klaus Sachs , Tethyan Copper Company , Minhal Incorporated , Scribe Hotel , British Virgin Island High Court , Supreme Court , Roosevelt Hotel In Manhattan , Pakistan International Airline , Roosevelt Hotel , High Court , Khalid Jawed Khan , British Virgin Island High , World Bank , International Centre , Investment Disputes ,

RBI to explore diversifying assets to boost returns on foreign exchange reserves

RBI to explore diversifying assets to boost returns on foreign exchange reserves
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RBI s income dipped by 10.96 per cent, expenditure decreased by 63.10 per cent because of which the year ended with an overall surplus with RBI transferring a surplus of Rs 99,122 crore to the government, up 73.51 per cent over the previous year, according to the latest annual report released by the Reserve Bank.
Agencies
The year 2020-21 is significant for the change in the accounting year of the Reserve Bank to April - March from July- June earlier. As a result, the accounting year 2020-21 was of nine months from July 2020 - March 2021. ....

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'Unfreezing of PIA assets in Reko Diq case huge success'

ISLAMABAD: Minister for Law and Justice Dr Farogh Naseem Wednesday said the High Court of Justice in the British Virgin Islands had unfrozen the assets of Pakistan International Airlines after. ....

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Value destruction at cement producer PPC: Figures that'll make your eyes water - Ted Black

PPC is a JSE-listed company that supplies cement and related products across Africa. It’s the type of business you’d expect to do really well as countries develop. The company performed poorly when Covid-19 containment measures brought business activity to a standstill, but the pandemic seems to have exposed hidden vulnerabilities. This is underscored by in-depth number crunching by independent analyst Ted Black. He sets out his data to highlight that PPC has been a poor performer when assessing its returns on assets managed, helping to explain why the company’s share price has plunged by not far off 700% over the past year. Black notes that value destruction has been massive, with the company worth about R5bn compared to R30bn in 2007. The PPC stock has shown signs of recovering in recent months, which Black sees as a sign that it might be draining its swamp. – Jackie Cameron ....

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