Tag: MENA

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Dominica tops the CBI Index for sixth consecutive time, scores full marks in six out of nine pillars

Roseau, Aug. 23, 2022 (GLOBE NEWSWIRE) — The Commonwealth of Dominica came out tops in the annual CBI Index, a rating system designed to measure the performance and appeal of global citizenship by investment (CBI) programmes across a diverse range of indicators.

The CBI Index is intended as a practical tool to compare CBI programmes as a whole and specific aspects of each programme. These aspects are reflected by the CBI Index’s nine pillars which Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Number one for six consecutive years, Dominica beat 11 other nations with active citizenship by investment programmes and scored full marks in the areas of Minimum Outlay, Mandatory travel or residence, Ease of Processing, Due Diligence, Family and Certainty of Product.

These nations include Antigua and Barbuda, Austria, Cambodia, Egypt, Grenada, Jordan, Malta, Montenegro, St Lucia, Turkey and Vanuatu.

“For the last 29 years we have ensured that our CBI programme really meets the needs of an ever-changing global investor. We’re proud to yet again be ranked as one of the best CBI offering in the world and look to increase our scores across all nine pillars next year,” commented Dominica’s Prime Minister, Dr Roosevelt Skerrit.

Dominica continues to be on a concerted drive to offer investors – through its Economic Diversification Fund and government-approve real estate options – a reliable safe haven amidst the constant global upheavals. Accompanied by a robust due diligence process, Dominica uses a multi-layered process in partnership with third-party due diligence firms from the USA and the UK, investors can be confident that they are buying into a product that that will enhance their portfolio.

Dominica’s scoring in the nine pillars:

Freedom of Movement: Dominica scored seven out of 10 as the country offers visa-free and visa-on-arrival access to 14 countries across the world, including the globes most sought-after business hubs.

Freedom of movement within and between countries is paramount to global investors seeking second citizenship and this year, the Index placed emphasis on the total number of countries and territories that can be visited without applying for a visa.

Standard of Living: Dominica scored five in this area due to its low average expected years of schooling, but it must be noted that the country has the highest life expectancy at 78.2 and a perfect freedom score when compared to Egypt, Jordan, St Kitts and Nevis and Vanuatu – who also shared the same score.

Minimum Investment Outlay: Dominica received a perfect score of 10 here as the minimum investment outlay for their CBI programme is only US$100,000 per applicant, one of the lowest citizenship investment outlays in the industry.

Mandatory Travel or Residence: As last year, Dominica kept is score of 10 out of 10 as the country does not require mandatory travel or residence in the country for processing of its citizenship application.

Citizenship Timeline: Dominica scored a nine in the citizenship timeline pillar. The pillar accesses the duration to get the application processed.

Ease of Processing: The citizenship by investment unit of Dominica continues to make the application process straightforward and more robust, helping the country secure a score full marks in this area.

Due Diligence: Dominica is recognized for its stringent and comprehensive due diligence checks on applicants seeking second citizenship and once again retained the score of 10 for due diligence processing. The country requires the provision of either fingerprints or a biometric passport and has robust external due diligence procedures that are undertaken by internationally renowned third-party due diligence firms.

Family: As Dominica allows main applicants to add additional dependents under a single application, once again making it easy to bring in additional family members, the country scored 10 under this pillar.

Certainty of Product: Dominica, along with St Kitts and Nevis, attained a perfect score for Certainty of Product Pillar thanks to the programme’s longevity, popularity, renown, stability, and adaptability. The CBI Index also lauded Dominica for its transparent two-track investment routes.

Regarded as an industry voice and reputable benchmark for CBI programmes across the globe, this year’s CBI Index offers readers a glimpse of the possibility that could in the CBI industry should all relevant parties cooperate.

The current turmoil has certainly brought a negative spotlight to the investment migration industry and overlooked the fundamentals of CBI – offering honest, hardworking families and entrepreneurs to explore and participate in meaningful global opportunities, especially where they have been let down by their own home countries.

Findings in the CBI Index state that in 2023, it is predicted over 125,000 millionaires will look to relocate to more secure and attractive destinations around the world and this trend is expected to continue and increase to 2030. Political fragmentation, instability, social polarisation are some of the reasons why investors look for second citizenship options.

It is for this reason that countries like the Commonwealth of Dominica are a popular investment choice, offering political and economic stability, a currency pegged against the US-dollar and, even more appealing is an eco-conscious government working its way to be carbon-neutral and sustainable.

“People who invest in our programme can be 100% sure that they are also investing in a country that cares about the planet and one that is taking tangible, measurable steps to protect the planet,” continues Prime Minister Skerrit.

The CBI Index is the world’s most definitive guide on citizenship by investment and is published today by PWM Magazine, a publication from the Financial Times in collaboration with CS Global Partners.

Download and read the full report here.

Attachment

Dominica PR
Commonwealth of Dominica
+27828215664
nandi.canning@csglobalpartners.com
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TOP RANKED ROSEN LAW FIRM Encourages Celsius Investors to Secure Counsel Before Important Deadline in Securities Class Action – CEL

NEW YORK, Aug. 22, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products, between February 9, 2018, and June 13, 2022, inclusive (the “Class Period”), against Celsius Network LLC (“Celsius”), Celsius Lending LLC, Celsius KeyFi LLC (collectively, the “Celsius Entities”) and its executives Alexander Mashinsky, Shlomi “Daniel” Leon, David Barse, and Alan Jeffrey Carr (together, “Defendants”), of the important September 13, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products 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 Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 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 13, 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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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 violated provisions of the Securities Act by selling non-exempt securities without registering it. The complaint alleges that Celsius and Individual Defendants violated provisions of the Securities Act by also participating in Celsius’ failure to register the Celsius Financial Products. The complaint alleges that the Defendants violated provisions of the New Jersey Common Law by possessing the monetary value of Celsius Financial Products of inflated value which rightfully belongs to the Plaintiff and members of the Class.

Also according to the lawsuit, Defendants violated provisions of the Exchange Act by carrying out a plan, scheme, and course of conduct that Celsius intended to and did deceive retail investors and thereby caused them to purchase Celsius Financial Products at artificially inflated prices; endorsed false statements they knew or recklessly should have known were material misleading, and they made untrue statements of material fact and omitted to state material facts necessary to make the statements made not misleading.

To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 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.

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
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages 17 Education & Technology Group Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – YQ

NEW YORK, Aug. 22, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of 17 Education & Technology Group Inc. (NASDAQ: YQ) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with 17EdTech’s December 2020 initial public offering (the “IPO”), of the important September 19, 2022 lead plaintiff deadline, in the securities class action commenced by the Firm.

SO WHAT: If you purchased 17EdTech 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 17EdTech class action, go to https://rosenlegal.com/submit-form/?case_id=7395 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 19, 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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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 IPO Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) Defendant 17EdTech’s K-12 Academic AST Services would end less than a year after the IPO; (2) as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech’s core business; and (3) 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 17EdTech class action, go to https://rosenlegal.com/submit-form/?case_id=7395 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.

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
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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Global Times: CPEC laying foundation for sustained indigenous economic modernization; growth within and across the region is logical next step: Pakistan PM

BEIJING, Aug. 23, 2022 /PRNewswire/ — The growth of China-Pakistan Economic Corridor (CPEC) – an international connectivity initiative – to connect markets within and across the region is the logical next step, Pakistan Prime Minister Shehbaz Sharif told the Global Times in a recent exclusive interview, expressing his openness to third-party participation to the flagship project of Belt and Road Initiative.

Since its inception in 2013, the CPEC has continued to make rapid and tangible progress. Over the past decade, CPEC has helped Pakistan alleviate power and infrastructure bottlenecks, thus laying the foundation for sustained economic modernization, Sharif said.

“As third-party participation picks up, we expect more common friends to benefit from Pakistan’s unique role at the crossroads of major emerging markets, demonstrating the win-win spirit that has always animated CPEC.”

As an international connectivity initiative, CPEC’s growth to connect markets within and across the region is the logical next step, he said.

Sharif said CPEC aims to bring the region together in the shared pursuit of prosperity and stability. This approach is not targeted at, and does not seek to exclude any party, Sharif said, hoping the project would continue to inspire greater international cooperation and help the region break the vicious cycle of deprivation and conflict.

With these ideals at its core, CPEC cannot reasonably be perceived as a “threat” except to those who view things in a zero-sum perspective and would rather “want that our peoples remain deprived of the fruits of development”, the Pakistan prime minister said.

Pakistan supports extension of China-Pakistan Economic Corridor (CPEC) to Afghanistan, Sharif said. “It is hoped that our efforts will ensure continuity of international engagement with Afghanistan with the eventual aim of seeing a peaceful, stable, prosperous, and connected Afghanistan contributing to the stability and long-term prosperity of our region.”

The prime minister also said he has visited numerous CPEC projects, including in Gwadar, to ensure that timelines are met. Timely completion of underway CPEC projects serve as the building blocks for the future agenda of bilateral economic cooperation has always been his priority.

Following the success of its early-harvest phase, CPEC is becoming increasingly substantiated, he said.

https://www.globaltimes.cn/page/202208/1272927.shtml

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CBI Index 2022 offers a glimpse into the future of the citizenship by investment industry: CS Global Partners

London, Aug. 22, 2022 (GLOBE NEWSWIRE) — The world’s most definitive guide on citizenship by investment, the CBI Index, was published today by PWM Magazine, a publication from the Financial Times in collaboration with CS Global Partners and offers readers a view of an industry in metamorphosis.

Released amid a year that has, again, been marked by heightened uncertainty, increased security risk, political instability and intensifying calls to act on the global warming threat, the CBI Index comes at a time when most individuals are reassessing the base they call home and are looking for more stable environments that not only offer security but business, health and education opportunities for generations to come.

Despite a tumultuous global environment and an investment industry harrowed by scrutiny from the EU and USA, this year’s CBI Index hints at opportunity amidst the chaos – opportunity for the CBI industry to evolve and perhaps be the answer to those who look to it to harness the world’s offerings.

Often thought of as a Plan B, the CBI Index infers that in a post-pandemic reset, there has been a shift in trust away from government as individuals obtain second, or multiple citizenships, and take control of their destinies. The new global citizen will look to invest in ‘Plan A’ and a more positive future for people and planet.

While the CBI Index is a rating system designed to measure the performance and appeal of global citizenship by investment (CBI) programmes across a diverse range of indicators, it is also a voice for the industry and a forward-looking manual that offers readers a glimpse of what the industry could be provided that industry players come together and shape its regulatory environment to benefit not only host countries, but citizens around the world who have realised that home need not be their place of birth, but where opportunities lie.

This Index is intended as a practical tool, both for those who wish to compare CBI programmes as a whole and for those who wish to compare specific aspects of each programme.

Its purpose is to provide a rigorous and systematic mechanism for appraising programmes, to facilitate the decision-making process for individuals considering them, and to bring value to the CBI industry.

The CBI Index assesses all countries with operational CBI programmes, which, in 2022, include Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, St Lucia, Turkey and Vanuatu.

The CBI Index rates CBI programmes according to these nine pillars: Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Freedom of Movement measures the relative strength of each country’s citizenship based on three equally weighted factors: the number of destinations to which a country’s passport allows travel without restriction, the number of prime business hubs to which it provides access, and the degree to which a given citizenship provides settlement rights in other nations.

The Standard of Living pillar is a measure of the quality of life offered by the 13 CBI jurisdictions under assessment and this pillar is vital to those who yearn to relocate and secure a prosperous and fulfilling lifestyle. Similarly, it is key to those wanting to take advantage of local business opportunities or needing to transfer and safeguard their assets.

The Minimum Investment Outlay pillar measures one of the most practical and foremost considerations of CBI – how much capital is required for the investor to become an eligible applicant for the programme of their choosing. The cost of applying for CBI increases with the number of dependants — or qualifying family members — included in an application. In some jurisdictions this increase is proportional, while in others the cost only increases following the inclusion of multiple dependants.

Mandatory Travel or Residence examines the travel or residence conditions imposed on applicants both before and after the granting of citizenship.

The Citizenship Timeline pillar looks at the average time taken for citizenship to be secured by the applicant.

The Ease of Processing pillar measures the end-to-end complexity of the CBI application process. In some jurisdictions, the application process can be a labour-intensive and painstaking task that is time-consuming for the applicant; in others, it is streamlined, and the applicant receives clear directives on how to proceed. The overall effortlessness of the application process is a particularly important component, and the promise of a smooth, hassle-free process can generate readiness to engage with a programme.

The Due Diligence pillar focuses on each nation’s commitment to ensuring that their programme remains transparent and effective at evaluating potential candidates for citizenship. It is therefore a measure of each programme’s integrity.

The Family pillar measures the extent to which investors can obtain citizenship for their immediate and extended family. The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.

Lastly, Certainty of Product encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation and adaptability. Additionally, it assesses a programme’s responsiveness to major global events, such as the Covid-19 pandemic and the war in Ukraine that have had a significant impact on global mobility and due diligence requirements.

As the CBI industry undergoes its own challenges and metamorphosis, the CBI Index gives worldly investors a reliable analysis of reputable programmes that will enable them to choose second citizenship in destinations that will fulfil their needs.

Download the full report here to see which of the thirteen countries took top spot and gain further insight into the CBI industry.

PR CS Global Partners
CS Global Partners
+44 (0) 207 318 4343
mildred.thabane@csglobalpartners.com
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ROSEN, LEADING INVESTOR COUNSEL, Encourages Celsius Investors to Secure Counsel Before Important Deadline in Securities Class Action – CEL

NEW YORK, Aug. 21, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products, between February 9, 2018, and June 13, 2022, inclusive (the “Class Period”), against Celsius Network LLC (“Celsius”), Celsius Lending LLC, Celsius KeyFi LLC (collectively, the “Celsius Entities”) and its executives Alexander Mashinsky, Shlomi “Daniel” Leon, David Barse, and Alan Jeffrey Carr (together, “Defendants”), of the important September 13, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products 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 Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 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 13, 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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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 violated provisions of the Securities Act by selling non-exempt securities without registering it. The complaint alleges that Celsius and Individual Defendants violated provisions of the Securities Act by also participating in Celsius’ failure to register the Celsius Financial Products. The complaint alleges that the Defendants violated provisions of the New Jersey Common Law by possessing the monetary value of Celsius Financial Products of inflated value which rightfully belongs to the Plaintiff and members of the Class.

Also according to the lawsuit, Defendants violated provisions of the Exchange Act by carrying out a plan, scheme, and course of conduct that Celsius intended to and did deceive retail investors and thereby caused them to purchase Celsius Financial Products at artificially inflated prices; endorsed false statements they knew or recklessly should have known were material misleading, and they made untrue statements of material fact and omitted to state material facts necessary to make the statements made not misleading.

To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 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.

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
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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