Lahore court extends Jahangir Tareen’s bail in money laundering case
Shahid Hussain, 19 May 2021
A Lahore sessions court extended Wednesday the bail of PTI leader Jahangir Tareen and his son Ali Tareen until May 31, in three money laundering and fraud cases.
The court told the Federal Investigation Agency to complete its investigation by then and not ask for more time. It had extended the bail until May 19 in the last hearing.
FIA, which has filed the cases, told the court that it needs more time to examine the heavy financial transactions done by Tareens. The court asked whether it wants to arrest the two, but the FIA said that it is still investigating, and will inform the court once it decides to arrest them. Continue reading “Article: Lahore court extends Jahangir Tareen’s bail in money laundering case”
Uprooting Corruption: Lessons from China
Dr. Ikramul Haq, 12 May 2021
After taking oath as the 22nd Prime Minister of Pakistan on August 18, 2018, Imran Khan has visited China three times (2018-2020, once every year) during his 33 months in power. After the first visit to Saudi Arabia, which is customary for all new entrants, the Prime Minister showed the importance Pakistan attaches to its most trusted friend, China, by visiting it next.
The much talked about issues in his speeches in China and elsewhere has been his “firm” (but without any roadmap) commitment (verbally) to uprooting corruption and alleviating poverty. On both issues, he vowed to learn from China. Continue reading “Article: Uprooting Corruption: Lessons from China”
Exchange leaders say GameStop saga highlights regulatory challenges
John McCrank, 16 March 2021
NEW YORK (Reuters) – The recent trading frenzy around GameStop Corp and other so-called “meme” stocks highlights shortcomings and challenges in the U.S. markets as retail investors become a bigger presence, exchange leaders said on Tuesday.
“The regulatory structure of the U.S. equity markets, in my mind, is flawed,” Jeff Sprecher, chief executive of New York Stock Exchange owner Intercontinental Exchange Inc, said on a panel at the Future Industry Association’s virtual FIA Boca conference.
Regulators have focused on competition between market intermediaries, like brokers and exchanges, rather than between buyers and sellers seeking to get the best prices, and the GameStop event exposed issues with that structure, he said.
In January, retail investors coordinated through social media forums in an attempt to punish hedge funds by buying shares of GameStop and other heavily shorted names, driving up their prices and forcing short sellers to close out positions at big losses.
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