Kamal renews pledge not to spare any sacrifice for the security & stability of country

In his message on Pakistan Day today (Tuesday), Balochistan Chief Minister Jam Kamal Khan renewed the pledge not to spare any sacrifice for the security, stability and development of the country.

He said this is a golden day on which the Muslims of India determined their destiny.

The Chief Minister prayed that Allah Almighty make Pakistan the cradle of peace and keep it safe from epidemics like Coronavirus.

Source: Radio Pakistan

Punjab Governor confers civil awards to various personalities

Punjab Governor Chaudhry Muhammad Sarwar conferred civil awards to various personalities at a ceremony held at the Governor House in Lahore on Tuesday

The Governor conferred Sitara-i-Imtiaz on Syed Naeem Bokhari, Lt. Col Farooq Shahbaz, late Abdul Qadir and Ahmad Irfan Aslam.

The Presidential Pride of Performance award was conferred on eight recipients while the Governor conferred Tamgha-i-Imtiaz upon nine recipients.

Chaudhry Muhammad Sarwar congratulated the recipients of civil awards and said there is immense talent in Pakistan and all those, who made Pakistan proud, are its heroes.

Source: Radio Pakistan

Karakorum Highway blocked for traffic b/w Gilgit, Rawalpindi due to landslide

The Karakoram Highway between Gilgit and Rawalpindi has been blocked for traffic.

The road was hit by landslides in Shatan Pari and kargil Nallah near pattan in Kohistan early this morning (Tuesday).

Efforts of Workers of Frontier works organization are underway to restore road for all type of traffic.

The scheduled flights from Islamabad to Gilgit have aslo been cancelled today due to inclement weather.

Source: Radio Pakistan

Twin cities continue to receive heavy rain with strong winds

Like other parts of the country, twin cities continue to receive heavy rain with strong winds for last two days.

The consecutive two-day rain will overcome the air pollution level while increase the underground water level as well.

Rain brings a multitude of benefits to the earth, including watering wild plants and crops, humidifying the air.

The most important benefit of rain is its redistribution of fresh water in the water cycle.

Source: Radio Pakistan

Asia Broadband Goes Live Today With Sales of Gold-Backed Cryptocurrency Token

LAS VEGAS, March 22, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce the sales launch today of the Company’s AABB Gold (AABBG) cryptocurrency token developed by Core State Holdings, Corp. (CSHC). In order to purchase tokens, AABB Wallet users must update the app or download to install the latest version of the app and pass the Know Your Client (KYC) process. Within this new version of the AABB Wallet, the token will only be available for purchase in exchange for other major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

Therefore, purchasers will need to hold existing cryptocurrency in any third-party wallet such as Coinbase or Binance. Purchasers will then deposit cryptocurrency from their third party wallet into their AABB Wallet to exchange and purchase the AABB Gold token (AABBG) for the current 0.1 gram of gold price (approximately $5.60 USD) plus a small transaction fee. Support for users of the AABB Wallet is available on the website www.AABBGoldToken.com and by email to AABBWallet@gmail.com.

The initial token release is backed by $30 million in physical gold the Company currently holds. At today’s market price of gold, this initial token release available for purchase is 5.4 million tokens at the one-tenth (0.1) gram of gold price (approximately $5.60 USD) for each AABBG token. The token price is tied to and supported by the Company at the market price of gold at a minimum. As the price of gold fluctuates, the minimum supported price of the AABBG token will increase or decrease, but the potential upside price of the token will be driven by market demand.

The AABB Gold token (AABBG) is backed 100% by physical gold held by the Company and additional releases of the token will continue to be backed 100% by additional physical gold acquired from future mining production, gold purchased from cash reserves or credit.

The launch version of the AABB Wallet will allow purchasers to transfer AABBG tokens to others that also have the AABB Wallet, but tokens will not initially be exchangeable within the AABB Wallet for other cryptocurrencies. This inaugural version of the AABB Wallet will allow the Company to increase token circulation and accumulate revenues to be utilized for the support and stabilization the token price when AABBG is freely exchangeable in the open market.

The Company is currently developing, with CSHC, its own proprietary cryptocurrency Exchange that will allow AABB Wallet users to quickly exchange their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. AABB embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward complete independence from FIAT currency.

AABB’s primary goal for the token is to become a worldwide standard of exchange that is secured and trusted with gold backing, by progressively expanding token circulation targeting large population and high growth markets globally including China and East Asia. The Company is collaborating with CSHC to roll out an international marketing campaign for the AABB Gold token, AABB Wallet and development of the corporate brand. The marketing efforts are aimed to proliferate brand exposure and reputation, increase the use of the AABB Gold token and the AABB Wallet, and amplify general public and investment community awareness of the Company.

About Asia Broadband

Asia Broadband Inc. (OTC : AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies. Visit www.AsiaBroadbandInc.com and www.AABBGoldToken.com

Contact the Company at:

Investor Brand Network
General Email: ir@asiabroadbandinc.com
Token Support Email: AABBWallet@gmail.com
Company Website: www.asiabroadbandinc.com
Token Website: www.AABBGoldToken.com
Phone: 702-866-9054

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

PACRA Assigns Initial Entity Ratings to Unicol Limited

Lahore, March 22, 2021 (PPI-OT): Pakistan’s ethanol industry is largely export based owing to lower domestic usage. The Country’s ethanol exports stood at USD 392mln in MY20, growing steeply by ~39%. Fluctuating yet inclining trend was witnessed in the global ethanol prices owing to spike in ethanol demand due to Covid-19 and closure of businesses worldwide. Devaluation of the Pakistani Rupee benefitted the industry players. The main raw material, molasses – a by-product in the sugarcane crushing process, accounts for approximately 80% of total cost of production. Average recovery rate of molasses (~4%) depends on the yield and quality of sugarcane crop.

The average recovery rate of ethanol from molasses is around 19%. As sugarcane production has witnessed a declining trend during MY20 and the ongoing crushing season, cost of molasses experienced a significant incline. This has offset the impact of rise in ethanol prices, leading the domestic distilleries to post stable profits. Going forward, the industry’s margins are expected to remain stable. Moreover, the industry players are expected to remain afloat with adequate cash flows and liquidity in the near-term.

The ratings reflect Unicol Limited’s strong business profile emanating from robust margins and export oriented nature of ethanol industry. Additionally, the ratings draw strength from the Company’s association with three strong business Groups: Ghulam Faruque Group, Amin Bawany Group and Hasham Group. The Company has a developed clientele in export market. Over time, Unicol has been able to enhance efficiency through consistently investing in BMR. This has yielded positive results while augmenting profitability and maintaining an upward trend. The Company has a moderately leveraged capital structure supplemented by strong coverages and healthy working capital cycle, which keeps financial risk moderate.

The ratings are dependent on the Company’s ability to sustain its margins and healthy coverages while maintaining necessary cushion and discipline in working capital management. Amicably sustaining the relationship among shareholders remain crucial for the ratings. Significant deterioration in coverages will have a negative impact on ratings.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

The post PACRA Assigns Initial Entity Ratings to Unicol Limited appeared first on Business News Pakistan.