August 16, 2021

Stevie® Awards Announce Winners in 18th Annual International Business Awards® from Across the Globe

Businesses Honored for Achievements Amidst COVID-19

Stevie Award Winners

2021 Stevie Award Winners will be celebrated at a virtual awards gala on December 8.

FAIRFAX, Va., Aug. 16, 2021 (GLOBE NEWSWIRE) — High-achieving organizations and executives around the world have been recognized as Gold, Silver, and Bronze Stevie® Award winners in The 18th Annual International Business Awards®, the world’s only international, all-encompassing business awards program.

Winners were selected from more than 3,700 nominations submitted by organizations in 65 nations.

A complete list of all 2021 Gold, Silver and Bronze Stevie Award winners by category is available at www.StevieAwards.com/IBA.

More than 260 executives worldwide participated on 11 juries to determine the Stevie winners.

The top winner of Gold, Silver, and Bronze Stevies overall is Ayala Land of Makati City, Philippines with 34. Other winners of multiple Stevie Awards are LLYC (33), IBM (23), Viettel Group (22), HALKBANK (20), DHL Express Worldwide (16), Masks4Missions (16), Telkom Indonesia (15), Yapi Kredi (13), Wolters Kluwer (13), Jeunesse Global (11), Tata Consultancy Services (11), Dubai Municipality (10), Zer Central Services and Trade (10), Zimat Consultores (10), AXA Sigorta (9), Google (8), Ooredoo Group (8), Sberbank of Russia (8), Isbank (7), MTR Corporation Limited (7), Thai Life Insurance (7), pH7 Communications (7), Sleepem Global, Inc. (7), Ulled Asociadios C.R.P. S.A. (7), Uniomedia Communications (7), and VNPT VinaPhone Corporation (7).

LLYC, a global communications and public affairs consulting firm headquartered in Madrid, Spain won 14 Gold Stevie Awards, more than any other organization in the competition.

All organizations worldwide are eligible to compete in the IBAs, and can submit entries in a wide range of categories for achievement in management, marketing, public relations, customer service, human resources, new products and services, technology, web sites, apps, events, and more.

The awards will be presented during a virtual awards ceremony on December 8, 2021.

About the Stevie® Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Marketing Contact
Nina Moore
Nina@StevieAwards.com
+1 (703) 547-8389

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/481046f1-ae07-4101-90b5-5dc3f84b9676

August 16, 2021

Crocus Technology Unleashes the World’s Fastest and Most Accurate XtremeSense® TMR Current Sensor with No Performance Compromises

The CT430 and CT431 enables design engineers to simplify their product design while still achieving higher efficiency solutions

SANTA CLARA, Calif., Aug. 16, 2021 (GLOBE NEWSWIRE) — Crocus Technology Inc., the leading supplier of disruptive Tunnel Magneto-Resistance XtremeSense™ TMR sensors, today announces the CT430 and CT431 isolated current sensor with 1MHz bandwidth and <1% total error over the full temperature range. The high speed operation and accurate output allow customers to optimize system design for smaller size and higher efficiency. In contrast to existing designs that utilize a Hall Sensor, the XtremeSense™ TMR sensor enables a no-compromise design solution by combining high bandwidth response and high accuracy.

The CT43x products are coreless devices which utilize Crocus’ state-of-the-art XtremeSense™ TMR technology to detect extremely small variations in AC or DC currents while achieving an unprecedented total output error of less than 1.0% over the full temperature range from -40°C to +125°C. In addition, the CT43x has robust built-in immunity to common-mode fields which allows the device to reject > 99% of stray fields without the need for external shielding. The Crocus proprietary TMR technology inherently offers very high signal-to-noise ratio (SNR) which allow for high resolution measurements required for precision control or monitoring applications. The linear error and offset performance is intrinsically more accurate permitting the elimination of system level calibration normally done with an external voltage reference, thus freeing up processor time and simplifying system design. “I’m excited to introduce this truly differentiated current sensor product which highlights the benefits the Crocus XtremeSense™ TMR technology can bring.” states Zack Deiri, President and CEO of Crocus Technology. “Our customers have been astounded by the level of performance we are able to deliver in their applications. The combination of high response time and accuracy provides system designers the flexibility they have been eager to achieve without any compromises.”

Product features and performance:

CT430 (5V version), CT431 (3.3V version)

Integrated 0.5mΩ conductor enabling 20A, 30A and 50A applications

Total error output +/-0.7% (typ)

300ns response time, 1MHz bandwidth

Low noise 9mArms

Integrated Common Mode Field Rejection (CMFR) with > 99% immunity

Over-Current Detection output pin

Investments made last year to expand our production capacity has enabled Crocus to be prepared to support high volume production today. To date we have shipped over 50M XtremeSense™ TMR sensors, and our customer base continues to rapidly expand. Products like the CT430 and CT431 which have an industry standard footprint enable customers to easily upgrade their existing products and accelerate product adoption.

Targeting applications in Solar Power Inverters, Power-Factor Correction (PFC), Battery Management Systems (BMS), Smart Appliances, IoT, and Power Supplies applications. These state-of-the-art devices are perfect companions to emerging applications utilizing GaN and SiC power devices where the fast response time of the Crocus TMR current sensors will ensure the highest operational efficiency.

The CT430 and CT431 are available in an industry standard 16-lead SOIC-Wide package with dimensions of 10.20 10.31 2.54 mm. Samples and evaluation boards are currently available, and the devices will be in full production in August 2021. For more information on the CT430 and CT431 products, please visit the product webpage:

CT430 https://crocus-technology.com/products/ct430/

CT431 https://crocus-technology.com/products/ct431/

About Crocus Technology

Crocus Technology develops and manufactures state-of-the-art magnetic sensors based on its patented XtremeSense™ TMR sensor technology. Crocus’ disruptive magnetic sensor technology brings significant advancements to IoT and smart devices, industrial, consumer, medical, and automotive electronics applications demanding high accuracy, high resolution, stable temperature performance, and low power consumption. Crocus is headquartered in Santa Clara, California. For more information, please visit http://www.crocus-technology.com.

© 2021 Crocus Technology International Corp. All rights reserved. Crocus Technology, XtremeSense and combinations thereof are trademarks of Crocus Technology Inc. and Crocus Technology SA. Other names are for informational purposes only and may be trademarks of their respective owners.

For more information, please contact:

Elsa Magnani
Crocus Technology
Tel: +1-208-999-6643
Email: emagnani@crocus-technology.com

August 16, 2021August 17, 2021

FBR Fixes New Ex-Mill Price of Sugar

The Federal Board of Revenue (FBR) has fixed Rs. 72.22 per kg as the ex-mill value of white crystalline sugar for the purpose of assessment of sales tax.

The FBR has issued S.R.O. 1027(1)12021 for the fixation of the value of the domestically produced white crystalline sugar.

Recently, the federal cabinet had decided that the implementation of sales tax on sugar will be at ex-mill price till November 30, 2021.

The Federal Board of Revenue (FBR) has suspended the provision of sales tax collection on sugar from the manufacturers on the basis of the retail price up to November 30, 2021.

The FBR had issued an SRO989(I)/2021 for not charging sales tax on sugar under the Third Schedule to the Sales Tax Act, 1990, for a specific time period. Entry number 50 of the Third Schedule to the Sales Tax Act, 1990 is related to the applicability of sales tax on the basis of printed retail price on sugar except where it is supplied as an industrial raw material to pharmaceutical, beverage, and confectionery industries.

This sales tax collection mechanism on the basis of printed retail price would not be applicable from July 1, 2021, to November 30, 2021.

During the last budget, the sales tax was imposed on the retail price of sugar, and the cabinet decision to implement a sales tax on ex-mill price would positively impact the prices of sugar and its availability.

Source: Pro Pakistani

August 16, 2021August 17, 2021

Political Upheaval in Afghanistan Causes Pakistan 2036 Eurobond to Drop to Nine-Month Low

Pakistan’s sovereign dollar bonds fell by one cent today (16 August) as investors feared the regional fallout caused by the turbulent political conditions taking place in Afghanistan’s capital, according to a report by an Asian news network.

Tradeweb data showed that this decline marks a nine-month low for Pakistan’s bond. The spreads on Pakistan’s hard-currency bonds over the US Treasuries had widened sharply during all of last week. Since 9 August, the cumulative impact has been of an addition of 25 basis points.

Media reports from the Afghanistan side revealed that Taliban officials announced that peace has prevailed across Afghanistan on Monday.

Meanwhile, the Western nations have been scrambling to evacuate their citizens from Kabul airport, the news report added.

Source: Pro Pakistani

August 16, 2021August 17, 2021

FBR Orders Completion Of Legal Proceedings Against Taxpayers with Show Cause Notices

The Federal Board of Revenue (FBR) Monday directed Commissioners Inland Revenue to complete legal proceedings against taxpayers for amendments in assessments within 120 days in cases where show cause notices have been issued from July 1, 2021.

The FBR has issued an income tax circular 4 of 2021 regarding Finance Act, 2021 — Amendment in Section 122 of the Income Tax Ordinance, 2001.

Historically, owing to the availability of extended period of time, the completion of proceedings under section 122 of the Income Tax Ordinance, 2001, within desired time has remained a challenge and diverse treatment was meted out the viz-a-viz time taken for completion of proceedings across the formations. This varied treatment has commutatively resulted in below-par revenue outcomes for the exchequer and increased compliance costs for the taxpayers due to protracted delays in legal actions, FBR said.

The Finance Act, 2021, has brought about a significant amendment in section 122 of the Ordinance, whereby a limitation of 120 days has been imposed with regard to the period of time, during which the amendment of assessment under section 122 of the Ordinance must be completed subsequent to issuance of a show-cause notice.

The said amendment harmonizes the procedure of amendment of assessment under the Income Tax Ordinance, 2001, with the procedure of assessment under section 11 the Sales Tax Act, 1990, and section 14 of the Federal Excise Act, 2005, FBR maintained.

The aforementioned amendment is also an effort to restore the true spirit of the Income Tax Ordinance, 2001, where amendment proceedings are entered into after carrying out inquiry or audit, if necessary, and do not remain pending for an indefinite period of time. In case the proceedings cannot be completed within the prescribed time period of 120 days, the Commissioner may extend the time limit for up to another ninety days for recorded reasons. The new provision would apply to the show cause notices issued after July 1, 2021.

Accordingly, formations are expected to be cognizant of this important amendment. The Commissioners are required to ensure that necessary guidance is provided to assessing officers in this regard, FBR added.

Source: Pro Pakistani

August 16, 2021August 17, 2021

Finance Minister Directs Concerned Divisions To Accelerate Import Of Wheat & Sugar

Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, held a meeting with the Federal Minister for National Food Security & Research, Syed Fakhar Imam, and SAPM on Food Security, Jamshed Cheema, to review the price trend of essential commodities.

SAPM on Food Security, Mr. Jamshed Cheema, briefed the Finance Minister on building strategic reserves of essential commodities, namely wheat, sugar, pulses, edible oil/ghee, tomatoes, onion, garlic, and chicken, to prevent hoarding and undue profiteering. The underlying rationale is to stabilize the prices of items of daily use. The Government will build the strategic reserves by importing 10-20 percent of the total consumption of the staple food items and supply into the market when needed to bridge the supply and demand gap. This will check the price fluctuation effectively.

In his remarks, the Finance Minister directed the concerned Ministries to accelerate the import of wheat and sugar and ensure that sufficient stocks are available for smooth supply during the current financial year. He also urged the concerned Ministries and TCP to exercise due diligence and take appropriate measures for risk hedging while floating tenders in the international market.

The Finance Minister urged the representatives of the Provincial governments to take corrective measures for reducing price differential between farm and retail prices. He emphasized the need to review the entire food value chain and ensure that the farmers get a commensurate share of the market value of their produce.

The SAPM on Food Security stated that farmers must follow the international best practices and look into alternate options for perishable commodities like Tomato puree, Onion powder, Garlic powder, etc., to meet peak demand due to seasonal variations. This will offer cost-effective products for the consumers as well.

SAPM on Finance and Revenue, Dr. Waqar Masood, Secretary Finance Division, Secretary M/o Industries and Production, Secretary M/o National Food Security Research, Provincial Chief Secretaries, and other senior officers participated in the meeting.

Source: Pro Pakistani