DIDI UPDATED CLASS PERIOD: ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages DiDi Global Inc. Investors with Losses in Excess of $500K to Secure Counsel Before Important Deadline in Securities Class Action – DIDI

NEW YORK, July 30, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit expanding the Class Period on behalf of more purchasers of the securities of DiDi Global Inc. (NYSE: DIDI): (1) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with DiDi’s June 30, 2021 initial public offering (the “IPO” or “Offering”); and/or (2) between June 30, 2021 and July 21, 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 September 7, 2021.

SO WHAT: If you purchased DiDi securities during the expanded 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 DiDi class action, go to http://www.rosenlegal.com/cases-register-2113.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com 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 September 7, 2021. 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, the Registration Statement featured and defendants throughout the expanded Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Cyberspace Administration of China (“CAC”) urged DiDi to delay its IPO; (2) DiDi “had the problem of collecting personal information in violation of relevant PRC laws and regulations”; (3) DiDi could not guarantee data security; (4) due to the foregoing, DiDi would face “serious, perhaps unprecedented, penalties” from relevant authorities; (5) DiDi and its many apps would face an imminent cybersecurity review by the CAC, which could lead to removal of Didi’s apps from app stores; and (6) as a result, defendants’ statements about the Company’s 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 DiDi class action, go to http://www.rosenlegal.com/cases-register-2113.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com 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.

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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

Sarhad Chamber Of Commerce Appreciates FBR For Facilitating Taxpayer-Friendly Environment

Chairman Federal Board of Revenue, Asim Ahmad, met with President, Sarhad Chamber of Commerce and Industry, Mr. Sherbaz Bilour, here at FBR Headquarter.

President, Sarhad Chamber of Commerce and Industry appreciated FBR’s initiatives for facilitating ease of doing business for the business community, particularly with specific reference to an automated environment for issuance of refunds directly into taxpayer’s account.

During the meeting, matters pertaining to monitoring of notices sent to industries and restaurants by FBR, speedy disposal and relief from cases pending at the Legal forums were discussed. Fixed evaluation of raw materials, issuance of pending refund cases, review of Alternate Dispute Resolution Committee mechanism (ADRC), integration of various business sectors in Tier 1 and lack of SOPs regarding tax facilitation for women entrepreneurs in Chamber of Commerce and Industry also came into discussion.

Chairman FBR was assisted by FBR team comprising Chief (Customs Operations) and Chief (IR Operations). The Chairman FBR appreciated the feedback and issued on spot instructions to both Customs and IR officers to review the standard operating procedures and administratively resolve the issues immediately.

Chairman FBR, Mr. Asim Ahmad also held a meeting with the President Gujranwala Chamber of Commerce and Industry Umar Ashraf Mughal along with his delegation. The delegation appreciated efforts of Mr. Asim Ahmad for bringing about FBR’s transformation into an automated and taxpayer friendly environment.

Matters pertaining to revisiting condition of placing commercial invoice and packing list in container, mis-declaration by Steel Importers and introduction of final tax regime for ceramic industry in next budget were discussed in the meeting.

Chairman FBR assured the delegation that the issues of the business community would be resolved on priority.


Source: Pro Pakistani

FBR Achieves Tax Collection Target For July FY21-22

The Federal Board of Revenue (FBR) has met the revenue collection target of July as it collected Rs. 410 billion against the target of Rs. 342 billion.

Sources told ProPakistani that the tax department has collected Rs. 135 billion Income Tax, Rs. 190 billion sales tax, Rs. 22 billion Federal Excise Duty and Rs. 63 billion Customs duties till Friday.

The tax department has surpassed its revenue collection target by Rs. 68 billion in July 2021-22, owing to a number of factors such as discouraging the policy of advance taxes, increasing the import bill, sources added.

Sources further said that FBR has also paid Rs. 20 billion refunds during the first month of the current fiscal year

It is pertinent to note that the government has set an Rs. 5,829 billion revenue target for the current fiscal year 2021-22.

The Finance Minister is hopeful that FBR can achieve the collection target of the current fiscal year by focusing on Point of sales (POS).

Sources said that the FBR is regularly sending notices to retailers who do not integrate their machines with the FBR system, besides imposing heavy fines.


Source: Pro Pakistani

All Major Chambers Of Commerce Ready to Help Increase Tax Revenue

Presidents of the country’s major chambers of commerce met Prime Minister Imran Khan in Islamabad. The meeting is part of a series initiated by the Ministry of Commerce to exchange ideas and raise awareness on government policies between the government and the business community.

The meeting was attended by the President of Federation of Pakistan Chambers of Commerce and Industry as well as Presidents and Vice Presidents of Chambers of Commerce of Karachi, Lahore, Peshawar/KPK, Quetta, Gujranwala, Sialkot, Faisalabad, Gujarat, Multan, Sargodha, Gwadar, Islamabad, and Rawalpindi. Federal Ministers, Hamad Azhar, Makhdoom Khusro Bakhtiar, Advisor on Commerce and Investment, Abdul Razzaq Dawood, Special Assistant, Dr. Shahbaz Gill, Governor State Bank of Pakistan, Dr. Raza Baqir, and concerned officials also attended the meeting. Finance Minister, Shaukat Fayyaz Tareen, participated via video link.

The participants praised Prime Minister and his economic team for the successful economic policies in the country despite the COVID-19 outbreak, which has led to a GDP growth of about 4 percent, and a 15 percent increase in large-scale manufacturing. They also commended SBP for providing facilities to the export industry, incentives for medium and small-scale industries (including machinery loans), and for taking along to Uzbekistan business community to benefit from Uzbekistan’s trade potential. They also congratulated the Prime Minister on the increase in tax revenue, exports, and remittances.

In addition, the participants appreciated the initiative of the incumbent government to listen to the suggestions of the business community directly to solve their problems. Moreover, the gap between government and the business community, as there has been no such initiative in the past, was also mentioned, which created obstacles in the way of business in the country.

Further, the participants in the meeting also expressed that the business community is ready to pay taxes and collaborate with the government to reform the tax system.

Stressing on the importance of industrial development to strengthen the country’s economy, Prime Minister said that the government is facilitating industries to increase exports, which would not only reduce the trade deficit but also increase foreign exchange reserves in the country and generate employment opportunities.

He further said that reforms are underway to improve the tax system, consultation in this lieu with all stakeholders will be beneficial for the process.

The Prime Minister directed the Federal Ministers to hold regular meetings to keep in touch with the stakeholders and listen to their suggestions and issues. Furthermore, the Prime Minister said that a strategy for the development of the tourism industry, a comprehensive agricultural plan for the development of the agriculture sector, and incentives are being provided to the industries.

The incumbent government, after providing facilities to the industrialists and the business community, is now focusing on efforts to solve problems through consultation.


Source: Pro Pakistani

Rupee Continues to Crumble With Another Big Loss Against the USD

The Pakistani Rupee (PKR) resumed its losing streak against the US Dollar (USD) in the interbank currency market today. It deteriorated by 54 paisas over yesterday’s exchange rate, and closed at Rs. 162.43 to the USD today (30 July) as compared to Rs. 161.88 on Thursday (29 July).

On a weekly basis, the PKR lost 0.06 percent to the greenback; while on a monthly basis, this deterioration was steeper at 3.10 percent. Even on an annual comparison, the local unit lost 1.62 percent value to the USD, according to the financial analytics platform Capital Stake.

This week’s journey for the PKR included a substantial improvement of Rs. 1.09 on Monday, deterioration of 10 paisas on Tuesday, and an even steeper deterioration of 57 paisas on Wednesday. On Thursday, the PKR managed to improve by only one paisa before crumbling by over half a rupee today.

The State Bank of Pakistan (SBP) released the reserves data yesterday, which also showed a decline for the previous week. This, coupled with higher imports, is pressuring the PKR in the interbank currency market.

Experts told ProPakistani that this continued deterioration of the Rupee will put an extra burden on the external debt to the tune of Rs, 1,100 billion. The PKR is trading at a much lower exchange rate than the official figures in the open market, and today’s open market exchange neared Rs. 163.5 to the USD.

The PKR posted blanket losses against other major currencies as well. It lost Rs. 1.10 against the Euro, Rs. 1.01 against the Pound Sterling (GBP), 47 paisas against the Australian Dollar (AUD), and 79 paisas against the Canadian Dollar (CAD).

It also deteriorated by over 14 paisas each against the UAE Dirham (UAE) and the Saudi Riyal (SAR) today.


Source: Pro Pakistani