Day: February 8, 2022

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ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – ELMS, ELMSW, FIII, FIIIU, FIIIW

NEW YORK, Feb. 07, 2022 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ: ELMS, ELMSW, FIII, FIIIU, FIIIW) between March 31, 2021 and February 1, 2022, 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 April 4, 2022.

SO WHAT: If you purchased ELMS 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 ELMS class action, go http://www.rosenlegal.com/cases-register-2247.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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 4, 2022. 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. 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: (1) ELMS’s previously issued financial statements were false and unreliable; (2) ELMS’s earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company’s Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the ELMS class action, go http://www.rosenlegal.com/cases-register-2247.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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VWAGY INVESTOR NOTICE: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Volkswagen AG Investors with Losses Exceeding $100K to Secure Counsel Before Important Deadline in Securities Class Action – VWAGY

NEW YORK, Feb. 07, 2022 (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 securities of Volkswagen AG (OTC: VWAGY) between March 29, 2021 and March 30, 2021, 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 March 15, 2022.

SO WHAT: If you purchased Volkswagen 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 Volkswagen class action, go to http://www.rosenlegal.com/cases-register-2072.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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 March 15, 2022. 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) the name “Voltswagen” was never going to be used by the Company’s U.S. subsidiary; (2) the Company and its spokespeople purposefully misled reporters, even after the reporters’ inquiries about whether the name change was an April Fool’s joke; and (3) 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 Volkswagen class action, go to http://www.rosenlegal.com/cases-register-2072.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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Marsel Khaliullin Named Business Line Manager Aftermarket Services Russia & CIS, Nikkiso Industrial Russia

TEMECULA, Calif., Feb. 07, 2022 (GLOBE NEWSWIRE) — Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (Group), a subsidiary of Nikkiso Co., Ltd (Japan), is pleased to announce that Marsel Khaliullin has been named Business Line Manager Aftermarket Services Russia & Cryogenic Industries Service for Nikkiso Industrial Russia (NIR).

Based in Russia, he will manage and support Aftermarket Services, reporting to Ayman Zeitoun in NIR and Jim Estes for CIS.

Marsel has over 20 years of experience working at various positions in the maintenance and engineering business related to rotating equipment, including the previous six years in the Oil & Gas industry in Iraq and 10 years working with international companies. For the past two years, Marsel managed the Rotating Equipment workshop for SPM Oil & Gas, a Caterpillar company.

“Marsel’s experience and industry knowledge will be of great benefit to NIR and we look forward to his positive contributions,” according to Ayman Zeitoun, Vice President & Managing Director – Russia – Operations.

With this addition, Nikkiso continues their commitment to be both a global and local presence for their customers.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture engineered cryogenic gas processing equipment and small-scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.

For more information please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:
Anna Quigley
+1.951.383.3314
[email protected]

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Pakistan’s Business Optimism Index Takes a Big Hit

Business optimism has declined across the board in Pakistan, with the trading sector registering the biggest decline in optimism.

This was the conclusion of Dun and Bradstreet Pakistan’s ninth edition of the “Business Optimism Index” (BOI) report for the fourth quarter of 2021 (4Q2021). The BOI declined after increasing consecutively for the previous three quarters, indicating a decline in optimism among the business community regarding the performance of their business in 1Q2022.

The BOI registered 143.9 points in 4Q2021 compared to 154.2 points in 3Q2021, indicating a decline of 6.7 percent decline quarter-on-quarter (QoQ). However, the BOI has improved by 7.9 percent compared to the same period last year.

The report said that the decline in optimism was driven by the overall downtrend in the macroeconomic indicators.

“High inflation rate of 12.3 percent in December 2021, the widening of the current account deficit by 57.9 percent, increased policy rates from 7.25 percent to 9.75 percent, depleting foreign exchange reserves from $25.6 billion to $24 billion, and depreciation of the Pakistani Rupee against the US Dollar by 4.5 percent during Q4 2021, may have affected the business community and impacted their business outlook,” the report noted.

The sector-wise comparison showed that the trading sector BOI exhibited the highest decline of 18.7 percent QoQ, the BOI declined from 160.9 in 3Q2021 to 130.9 in 4Q2021. However, the index increased by 5.3 percent year-on-year (YoY). The report attributed the decline to COVID-19 related supply chain disruptions in anticipation of the spread of the Omicron variant in 1Q2022.

The manufacturing sector index decreased by 3.5 percent QoQ, the BOI declined from 147.0 in 3Q2021 to 141.8 in 4Q2021. However, the index increased by 8.0 percent YoY. Similarly, the services sector index decreased by 4.4 percent QoQ, the BOI declined from 157.1 in 3Q2021 to 150.2 in 4Q2021. However, the index increased by 5.3 percent YoY.

The index-wise comparison showed that large business BOI declined from 162.5 in 3Q2021 to 146.2 in 4Q2021. The report attributed the decline to the outbreak of the Omicron variant, and an increase in inflation and policy rates, which is likely to affect the overall consumer demand in the next quarter.

The small and medium enterprises (SMEs) index decreased marginally to 140.5 in 4Q2021 from 141.9 in 3Q2021. The report noted that over 40 percent of SMEs and large companies cite the increase in inflation and interest rates as the key challenge to business growth.

The exporter’s index also declined marginally from 155.0 in 3Q2021 to 154.0 in 4Q2021. The USA, UK, and UAE were identified as top export destinations for businesses.

‘Inflation and high-interest rates’ replaced ‘business disruptions due to COVID-19’ as the top challenges in Q42021 after the latter being at the top for the six previous quarters, the report noted. The rising cost of utilities, less demand for products & services, business regulations, the availability of skilled labor, higher completion, exchange rate fluctuation, government taxes, and high cost of finance are among the other challenges.

Source: Pro Pakistani

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Commerce Ministry Allows Export of 14 Items to Afghanistan in PKR

The Ministry of Commerce has amended the Export Policy Order 2020 to allow the export of 14 other items to Afghanistan in Pakistani Rupees (PKR) through the land route.

The Ministry of Commerce has issued a notification to implement the decision of the Economic Coordination Committee of the Cabinet which was taken last month. The decision was taken on humanitarian grounds to extend support to the Afghan government that has been facing a severe shortage of foreign reserves.

According to the latest notification, the items allowed for exports in local currency to Afghanistan are rice, fish and fish products, poultry, meat and products, sugar confectionery and bakery products, fruit, nuts and other edible parts of plants, oil cake and other solid residues, vegetable materials and vegetable waste, salt, cement, pharmaceuticals, matches, textile and textile articles, building stone and surgical instruments.

Currently, Pakistani exporters are allowed to export only four items that include fruits, vegetables, dairy products and meat to Afghanistan in PKR.

After the decision, Pakistani exporters can export 18 items to Afghanistan in Pak Rupees.

It is pertinent to mention here that Pakistan’s exports to Afghanistan are in declining mode as they fell to $328 million during the first half of the current fiscal year from $517 million during the same period of the last fiscal year.

Source: Pro Pakistani

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CCP and PICG Sign MoU for Strengthening Corporate Governance & Compliance

The Competition Commission of Pakistan (CCP) and the Pakistan Institute of Corporate Governance (PICG) on Tuesday signed a Memorandum of Understanding (MoU) on cooperation, collaboration, and capacity development for strengthening corporate governance and competition compliance in Pakistan.

The MoU was signed by the CCP Chairperson Ms. Rahat Kaunain Hassan and PICG Chief Executive Officer Ahsan Jamil in a ceremony at the CCP’s head office in Islamabad. The ceremony was also attended by Chairperson PICG Board of Directors Dr. Shamshad Akhtar, CCP members Shaista Bano, Bushra Naz Malik, Mujtaba Ahmad Lodhi, and other senior officers.

Addressing the occasion, the CCP Chairperson welcomed the support of PICG in joining hands with the CCP through the signing of the MoU. She stated that corporate governance and competition principles are intertwined. There is a commonality of objective in that both regulate human behavior and promote fair play, she added.

She further stated that the collaboration aims to promote good governance, ensure corrective behavior and sustainable compliance through advocacy measures and training for the corporate sector. In the face of the increasing complexity of corporate arrangements, this would help create awareness of the internal and external drivers of collusion or anti-competitive practices. It would also enable the corporations towards better strategic planning, she added.

Dr. Shamshad Akhtar, in her remarks, said that the PICG board has envisioned bringing a new dynamism in the PICG to improve corporate governance in Pakistan. She welcomed the signing of MoU between PICG and CCP, saying that the prevailing conditions in public and private sectors require more such partnerships. “I am delighted to have the opportunity to work with the Competition Commission of Pakistan. This MoU will greatly help to reinforce the respective mandates of CCP and PICG,” she said.

Ahsan Jamil in his remarks said that the importance of free and fair competition for productivity, exports growth and global competitiveness cannot be overstated. Similarly, good corporate governance is beneficial for businesses as it reduces cost, ensures fair play and protects businesses from undesirable outcomes. PICG is looking forward to working with CCP in promoting good corporate governance and competition law compliance. He mentioned several initiatives that PICG is taking to improve corporate governance in Pakistan.

The MoU will not only allow both parties to exchange information on pertinent issues, but also work together in undertaking advocacy, research, and training initiatives to promote public awareness of the Competition Act and the Listed Companies (Corporate Governance) Regulations, 2019.

The collaboration aims to improve awareness of the competition law landscape and a commitment to compliance within organizations. Furthermore, both parties will hold collaborative sessions on competition law, promoting compliance and organizational governance, and assist each other in matters of mutual interest for better implementation of their respective mandates.

Source: Pro Pakistani

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World Bank Mission Calls on Finance Minister to Discuss Ongoing Projects

Federal Minister for Finance and Revenue, Shaukat Tarin held a meeting with Country Director World Bank (WB), Najy Benhassine and his team at the Finance Division on Tuesday. Secretary Finance and senior officers attended the meeting.

The two sides discussed the progress of ongoing WB programs in Pakistan with a focus on the Resilient Institutions Strengthening Program (RISE-II). They brought under consideration some actions needed for the timely completion of the program.

In his remarks, Finance Minister Shaukat Tarin appreciated the World Bank for its support in pursuing a reform agenda and implementing various development projects in the country. He said Pakistan valued the financial and technical support provided by the World Bank for institutional reforms and the economic development of the country.

Source: Pro Pakistani

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COAS General Qamar Javed Bajwa arrives in Naushki

Chief of Army Staff General Qamar Javed Bajwa has reached Naushki.

According to ISPR, he will spend complete day with troops.

The Army Chief will be given detailed update on security situation in the area and operational preparedness of the formation to counter terrorist activities.

He will meet troops who participated in repulsing terrorist attack on the second of this month.

Later, the Army Chief and the Prime Minister will be given comprehensive briefing and will also interact with local tribal elders.

Source: Radio Pakistan

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President approves appointment of three additional judges in PHC

President Dr. Arif Alvi has approved appointment of three additional judges in Peshawar High Court (PHC).

Kamran Hayat Mian Khel, Mohammad Ijaz Khan and Mohammad Fahim Wali have been appointed as additional judges in Peshawar High Court for one year.

The appointment is made under Article 175 of the Constitution.

Source: Radio Pakistan