Latest news with #597
Gulf Insider
5 days ago
- Business
- Gulf Insider
Bahrain: BD13,597 Payout For Former Partner Over Unpaid Profits
A commercial company has been ordered to pay BD13,597 to a former business partner following a civil court ruling over unpaid profits and an unpaid board allowance. The High Civil Court found that the claimant, once a partner alongside the second and third defendants, had not received his share of company profits from 2019 through 2023. Financial records, signed off and accepted in court, showed the firm had made money during those years. Monthly allowance Lawyer Sarah Fouad Atiq, acting on behalf of the claimant, told the court that a monthly allowance had also been agreed upon by the board for each partner. Her client, she argued, had been left out of those payments. Expert financial reports presented during the hearings confirmed the company had turned a profit. The court also noted that money had been moved to another firm, which, in its view, disrupted the proper distribution of earnings. On that basis, the court ruled that the claimant was owed BD13,597. The company was also ordered to cover court charges, legal fees, and the cost of expert reports.
Gulf Insider
6 days ago
- Business
- Gulf Insider
Bahrain: Company Ordered To Pay BD13,597 To Former Partner Over Unpaid Profits
A commercial company has been ordered to pay BD13,597 to a former business partner following a civil court ruling over unpaid profits and an unpaid board allowance. The High Civil Court found that the claimant, once a partner alongside the second and third defendants, had not received his share of company profits from 2019 through 2023. Financial records, signed off and accepted in court, showed the firm had made money during those years. Lawyer Sarah Fouad Atiq, acting on behalf of the claimant, told the court that a monthly allowance had also been agreed upon by the board for each partner. Her client, she argued, had been left out of those payments. Expert financial reports presented during the hearings confirmed the company had turned a profit. Money The court also noted that money had been moved to another firm, which, in its view, disrupted the proper distribution of earnings. On that basis, the court ruled that the claimant was owed BD13,597. The company was also ordered to cover court charges, legal fees, and the cost of expert reports.
Daily Mirror
15-07-2025
- Business
- Daily Mirror
HMRC warning for Brits who receive state pension as they could owe money
The full rate of the new State Pension is now £230.25 per week or £11,973 a year, meaning some pensioners who receive this amount may need to consider their tax position State pensioners may need to keep an eye on their coffers as earnings over £597 a year could lead to owing money to HMRC. Owing to April's 4.1 per cent increase under the Triple Lock - which adjusts payments according to inflation, wage growth, or a minimum of 2.5 per cent, whichever is higher - the state pension saw a bump. Now, the full new State Pension stands at £230.25 weekly, totalling £11,973 annually, leaving recipients just £597 below the Personal Allowance threshold of £12,570. Any income over this allowance will be subject to a 20 per cent tax, climbing to 40 per cent beyond £50,270. The Low Incomes Tax Reform Group is calling upon the DWP and HMRC to flag potential tax liabilities to pensioners nearing the threshold. They've urged: "We think that DWP and HMRC should work together to ensure that pensioners are warned about possibly needing to pay tax on their State Pension in future. This should include setting out how the tax will be collected and the likely tax liability." Suggestions have been made to incorporate these warnings within the annual State Pension notification letters dispatched by the DWP each spring before the April pension increases take effect, reports Birmingham Live. BBC and ITV star Martin Lewis was questioned on his recent Sounds podcast: "Explain to me why any pensioner would want to increase their pension? "You will be taxed 20 per cent over £12,570, which means you'll be worse off and you'll be asked to pay more in, you'd then have your benefits stopped if you're below the limit and that takes you below the limit and that takes you over the limit even by 10p." Martin said: "Let me split that into two. Without being rude, on the first bit you're talking nonsense. Okay, look, tax in this country is marginal. You only pay 20 per cent on the amount above the threshold. "The State Pension has always been taxable if you have other income, it counts as taxable income. So look, let's say you add £1,000 a year to what you earn and that £1,000 is above the threshold. "Yes it's taxed so you only get £800 of it. But you still get £800 more. Tax is marginal, you always want to earn more, you always receive more if you earn more. "You might not get every pound more that you're being given but you're still, the more you earn the more you get, so the tax thing, that's a red herring." He added: "The other one isn't - for those on very low incomes if you may be eligible for Pension Credit and you don't have any other income, the Pension Credit effectively tops you up to the full State Pension anyway so if you're gonna buy years to top you up to the full State Pension a it is possible that you would have simply got it via pension credit anyway."
Express Tribune
30-06-2025
- Business
- Express Tribune
Gas becomes dearer as 50% hike notified
Listen to article The government on Sunday notified an increase in the fixed charges on gas bills by 50% and also jacked up gas tariffs for non-residential consumers. According to a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Sunday, the fixed charges were increased by Rs200 to Rs600 for the protected category of domestic consumers. In the non-protected category, the fixed charges were increased from Rs1,000 to Rs1,500 for monthly consumption of up to 1.5 hm3. Likewise, the fixed charges for consumption exceeding 1.5 hm3 were jacked up to Rs3,000. The protected category includes a domestic consumer whose average consumption of last 4 winter months (November to February) shall be below or equal to 0.9 hm3. In contrast, the non-protected category includes a domestic category whose average consumption of last 4 months shall be above 0.9 hm3. The revised tariff also applies to various institutional and commercial entities. Government institutions, semi-government bodies, hospitals, and educational institutions will now be charged Rs3,175 per MMBTU. For traditional tandoors (bread ovens), gas rates have been set between Rs110 and Rs700 per MMBTU, depending on usage levels. Commercial consumers will now pay Rs3,900 per MMBTU, while general industrial users will be charged Rs2,300 per MMBTU. Captive power producers — industries generating their own electricity — will pay Rs3,500 per MMBTU, and CNG stations will be billed at Rs3,750 per MMBTU. Cement factories will face the highest tariff among industrial users, with rates set at Rs4,400 per MMBTU. Fertilizer plants will be charged Rs1,597 per MMBTU. For K-Electric and other electricity generation companies, the new tariff has been fixed at Rs1,225 per MMBTU. The Oil & Gas Regulatory Authority last month determined the Estimated Revenue Requirements (ERR) for FY 2025-26 for both SNGPL and SSGCL. According to the determinations, SNGPL requires revenues of Rs534.5 billion and SSGCL requires revenues of Rs354.2 billion to sail through the FY 2025-26 respectively. The cumulative revenue requirements of both the Sui companies are Rs888.6 billion for the FY 2025-26. The law mandates the federal government to ensure that the consumer gas sale prices should not be less than the revenue requirement determined by the Authority. At the previous notified consumer gas sale prices effective February 01, 2025 the estimated revenues of both Sui companies by end FY 2025-26 were Rs847.714 billion. Some of the members of the ECC criticized giving guaranteed 24% return on assets to Sui companies, which discourage efforts to improve efficiency by reducing line losses. The prices were changed to meet a condition of the International Monetary Fund to biannually adjust the gas prices.
Time of India
21-06-2025
- Health
- Time of India
'Yoga guides us toward public welfare': UP CM Yogi Adityanath performs Yoga in Gorakhpur on 11th International Yoga Day
File photo: UP CM Yogi Adityanath (Picture credit: ANI) GORAKHPUR: Uttar Pradesh Chief Minister Yogi Adityanath and other dignitaries performed Yoga in Gorakhpur on Saturday on the occasion of the 11th International Yoga Day . He welcomed everyone and said that Yoga Day is being celebrated not only in the country but also around the world. He also praised Prime Minister Narendra Modi for making yoga popular globally. While addressing the public, Yogi Adityanath said, "Today, Yoga Day is being celebrated in Gorakhpur. The local minister, MPs, other public representatives, and all the brothers and sisters here are participating. I welcome everyone. This program is happening not just here, but across the country and the world. In Andhra Pradesh's Visakhapatnam, Prime Minister Narendra Modi is spreading the message of yoga. On the occasion of the 11th International Yoga Day, I send my warm wishes to everyone. " "Yoga has been part of our culture since ancient times. Good health helps us fulfil our goals, and yoga helps us grow spiritually too. It's a tradition passed down by our sages through the Vedas, Puranas, and other ancient texts," he added. Yogi said that yoga builds spiritual strength and is India's gift to the world. He praised Prime Minister Narendra Modi for getting global recognition for yoga He also wished everyone good health and happiness on the occasion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Only €597 Affordable Website Design Package Craig Murray Website Design Learn More "Spiritual strength comes through the body and yoga. India has gifted this practice to the world. Earlier, people in other countries tried to patent different yoga poses as their own, and we were losing our heritage. However, Prime Minister Modi gave yoga global recognition through the United Nations. Thanks to his efforts, we are now celebrating the 11th International Yoga Day. Yoga guides us toward public welfare. I wish everyone good health and happiness on this Yoga Day," he added. Prime Minister Narendra Modi participated in the 11th International Day of Yoga celebrations, hailing yoga as a gift "beyond age" that transcends all boundaries and unites humanity in "health and harmony." "The event took place against the scenic backdrop of the Visakhapatnam coastline, with Indian Navy ships stationed near the shore, adding to the grandeur of the celebrations. The 11th International Day of Yoga saw widespread participation across states.
