Latest news with #AOPs
Business Recorder
5 days ago
- Business
- Business Recorder
Higher business costs: MoF, SECP strongly object to amendments thru CSR Bill
ISLAMABAD: Ministry of Finance and Securities and Exchange Commission of Pakistan (SECP) strongly objected to amendments through 'The Corporate Social Responsibility Bill, 2025', arguing it will increase cost of doing business of companies in Pakistan. The 16th meeting of the Standing Committee on Finance and Revenue was held Wednesday at the Parliament House under the chairmanship of Syed Naveed Qamar, MNA. SECP Chairman Akif Saeed said that the amendments should not be proposed in the existing law. The present objective can be achieved through other alternate options. The law would create discrimination between the cost of doing business of association of persons (AOPs) and registered companies. Secretary Finance observed that we will come up with a solution where objective would be achieved without increasing cost of doing business of the companies. The committee considered 'The Parliamentary Budget Office Bill, 2025', moved by Rana Iradat Sharif Khan, MNA, and constituted a Sub-Committee under the Convenorship of Dr Nafisa Shah, MNA, for detailed deliberation on the bill and submission of its report within 30 days. Ali Zahid, Arshad Abdullah Vohra, and Muhammad Mobeen Arif, MNAs, will be the members of the newly appointed sub-committee. Dr Mirza Ikhtiar Baig, MNA, presented the report of the Sub-Committee on 'The Corporate Social Responsibility Bill, 2025', moved by Dr Nafisa Shah, MNA. The Committee adopted the report and deferred the discussion on the report for the next meeting of the Committee. The Committee expressed serious concern over the absence of the Secretary, Industries and Production, and deferred the agenda item relating to the new Electric Vehicle Policy. During the meeting, Secretary Finance and Chairman SECP Saeed said that there is no mandatory provision regarding the corporate social responsibility in the world except in India. Furthermore, it would result in increasing the doing of business cost and may discourage companies. The committee was further informed that many companies do not perform CSR. The committee members objected to their reservations while saying that one percent increase companies cost of doing business, but what about the 19 percent mandatory sale tax. On the taxation side, the government has no objection, but when we talk about welfare for the poor, there are serious objections. Nafisa Shah said that some companies are paying even 1.5 percent CSR. The Committee adopted the report and deferred the discussion on the report for the next meeting of the Committee. The meeting was attended by Rana Iradat Sharif Khan, Syed Samiul Hassan Gilani, Ali Zahid, Dr Nafisa Shah, Mirza Ikhtiar Baig, Muhammad Jawed Hanif Khan, Arshad Abdullah Vohra, Muhammad Mobeen Arif, Usama Ahmed Mela, MNAs. The meeting was also attended by Bilal Azhar Kayani, the Minister of State for Finance, Syed Rafiullah and Aliya Kamran, MNAs/movers of the starred questions. The secretaries and officers from the Finance and Revenue Divisions were also present during the meeting. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
Only individuals restricted from cash withdrawals under Section 114C
LAHORE: Only individuals have been restricted from cash withdrawals, as of now, under Section 114-C, said tax experts. Talking to the Business Recorder, Ashfaq Tola said accounts in the names of Association of Persons may also be covered depending upon enforcement of the said provision, however, it is unclear, as definition of person differentiates individuals and AOPs u/s 80. No restriction has been imposed on companies for now. Now, he said, the Act has amended and Section 114C reads: The threshold that was previously to be notified by the federal government is now mentioned in the Fifteenth Schedule. Similar investments to securities or units of mutual funds have also been brought within the ambit of the restrictions in Section 114C (1). Now all accounts (except for Pension and Aasan accounts), not just current accounts of ineligible persons cannot be opened or maintained. Now any person cannot withdraw equal to or more than Rs 100 million in all bank accounts held by an individual. Another, Hussain Sherazi, said only individuals have been restricted from cash withdrawals as of now. Accounts in the names of AOPs may also be covered depending upon enforcement of the said provision. However, it is unclear, as definition of person differentiates individuals and AOPs u/s 80. No restriction has been imposed on companies for now. Similarly, some other experts added that cars unto Rs 7 million can be purchased by persons, including non-filers, without obtaining a certificate of eligibility for such purchase. This may potentially increase the demand for used cars, and adversely affect the market for brand new cars. In addition, under Section restriction 114(1)(b), pertaining to application for registering, recording or attesting transfer of any immoveable property, the threshold limitation has been fixed at more than Rs 100 million for commercial immoveable properties and more than Rs 50 million for residential immoveable properties. The transaction value taken shall be the fair market value as defined under Section 2(22AA) of the ITO. Copyright Business Recorder, 2025
Business Wire
23-06-2025
- Business
- Business Wire
Decagon Raises $131M at $1.5B Valuation to Deliver Concierge Customer Experience with AI Agents
SAN FRANCISCO--(BUSINESS WIRE)-- Decagon, the leader in conversational AI agents for customer experience, today announced $131 million in s eries C funding, pushing its total funding to $231 million just one year after emerging from stealth. The round valued the company at $1.5 billion and drew 5x more investor demand than capacity, underscoring Decagon's momentum and market leadership. The round is co-led by Accel and Andreessen Horowitz (Growth Fund), with participation from existing investors A*, Bain Capital Ventures, and BOND, and new investors Avra, Forerunner, and Ribbit Capital. 'We're at a defining moment for AI agents, with massive demand specifically in the customer experience sector,' said Sarah Wang, General Partner at a16z Growth. 'Decagon has the technical prowess, focus, and expertise to lead this market, and this latest round is a testament to that.' In an industry crowded with customer support solutions, Decagon stands apart with its product-driven approach: A gent Operating Procedures (AOPs). AOPs empower customer experience operators to design and adjust AI agent behavior in real time using natural language, while technical teams retain full control over the underlying code. This enables brands to rapidly deploy and continuously improve the AI agent experience with Decagon, while maintaining the structure and rigor of code under the surface. Businesses can go live in weeks — not months — without relying on costly professional services. They also gain real-time visibility into agent performance across every channel, allowing teams to quickly identify issues, experiment safely, and continuously improve the end-user experience. As a result, Decagon's AI agents empower leading brands like Hertz, Eventbrite, Duolingo, Oura, Bilt, and Notion to deliver intelligent, high-quality customer experience at scale. 'At Hertz, we're focused on leveraging technology that delivers a more seamless experience for our customers,' said Vikram Rajagopalan, Vice President of Customer Experience at Hertz. 'Our partnership with Decagon has taken us from idea to impact without sacrificing control, visibility, or enterprise standards. Its AI agents are flexible, reliable, and built for scale, which is enabling more personalized interactions and helping transform how we serve our customers." 'Decagon's relentless focus on customer outcomes and differentiated approach to human-agent collaboration make them a breakout leader in AI agents for customer experience,' said Ivan Zhou, Partner at Accel. 'They've become the trusted AI partner for leading enterprises like Hertz, and are accelerating the way every company engages their customers with AI." Decagon works across channels to meet customers where they are — whether that's chat, email, voice, or SMS. With a centralized intelligence layer at its core, Decagon lets companies define workflows, knowledge, and brand voice once and apply them across every channel. This unified approach enables Decagon to handle complex tasks like refunds, identity verification, and escalations with precision and consistency, regardless of a customer's preferred channel. 'We've always believed that success comes from matching execution with the right market,' said Jesse Zhang, Co-founder and CEO of Decagon. 'Brands see the massive opportunity AI agents bring to customer experience, and they want a partner who can help them capture that opportunity. This funding reflects the very real, growing demand for what Decagon delivers.' This latest funding round comes after a period of rapid growth for Decagon. Over the past year, the company grew from zero to eight figures in annual recurring revenue (ARR) and more than quadrupled its customer base. Today, Decagon's platform powers faster, smarter customer service for 10s of millions of end-users across global brands. In April, the company debuted on the Forbes AI 50 list. This fresh funding will fuel Decagon's push to scale its product and team in response to surging market demand. With customers already seeing outsized impact, the company is focused on accelerating innovation and seizing this market-defining moment. For more information, see here. About Decagon Decagon is the leading conversational AI platform empowering brands to deliver concierge customer experience with AI agents. Combining the power of natural language with the precision of code, Decagon's Agent Operating Procedures (AOPs) enable enterprises to build, optimize, and scale AI agents for secure, reliable, always-on customer service. Whether resolving issues or proactively helping customers discover greater value, Decagon builds meaningful connections between brands and customers that are authentic, intelligent, and truly satisfying—redefining what customer experience should be. For more information, visit
Business Recorder
20-06-2025
- Business
- Business Recorder
Experts urge FBR to broaden tax base to meet FY26 target
ISLAMABAD: Experts recommended that Federal Board of Revenue (FBR) needs to increase the tax base to achieve revenue target of Rs14.1 trillion in 2025-26 without burdening existing taxpayers. Pakistan's numbers tell a compelling story with only 5.9 million tax filers out of 71 million workforce (8.4 percent, tax filer to workforce ratio), while banks hold 177 million accounts, with 137 million unique account holders (60% of adult population), and Rs32.7 trillion in deposits (as of May 2025)—all with complete KYC data with the Banks. These figures were shared by former minister for Interior and Commerce GoharEjaz on X formerly known Twitter. He sated FBR needs help to find non-tax filers. This is where they need to look: total tax filers in Pakistan 5.9 million (2024-25), individuals (5.8 million), Business Partnerships (AOPs) ( 104,269) and companies (87,900). Ejaz further stated that FBR doesn't need to tax existing filers more—it needs to expand the tax base. With withholding taxes at Rs. 1.59 trillion and voluntary payments at Rs. 1.12 trillion (first half of 2024-25), the compliant are already contributing. 137 million unique bank account holders vs 5.9 million tax filers is a stark low number, he added. FBR must target non-filers—going after existing taxpayers will not work as they're already overburdened. Banks have comprehensive KYC data on account holders with substantial deposits. Non-filers' complete account details, transaction histories, and financial profiles are readily available. Smart governance means using available data intelligently. The path to Pakistan's revenue targets lies not in over-burdening the 5.9 million compliant taxpayers, but in identifying and bringing the remaining 131 million bank account holders with significant financial footprints into the formal tax system, Ejaz added. Copyright Business Recorder, 2025
Yahoo
15-05-2025
- Business
- Yahoo
Bordeaux Wines Launches Second Year of Dynamic Global Campaign, #JointheBordeauxCrew
Focused on its winemaking community, the campaign kicks off its second year with signature events, promotions, and educational programming NEW YORK, May 15, 2025 /PRNewswire/ -- Making an impression, modernizing their image, getting people on board! This is the goal that the winegrowers and merchants of Bordeaux have set themselves. A number of changes have taken place in the vineyards to better adapt to today's world. For the past 12 months, a collective communications strategy has been rolled out simultaneously in France and in key export markets including Belgium, the United Kingdom and the United States, with Japan lined up for 2025. Bordeaux is reinventing itself, and it's time to tell the storyThe Bordeaux vineyard is diverse: whether through its men and women, younger generations, historic families, and career-changers, its styles of wine (timeless, atypical, iconic) and colors (red, white, rosé), and its approach to sustainable viticulture (Organic, CSR, Biodynamic, etc). Bordeaux wines' new tagline invites enthusiasts and connoisseurs alike to explore its multi-dimensional vineyard, as it embraces its heritage whilst shaking up traditions. This communications campaign, run by the CIVB in conjunction with the trade and the AOPs, is already having an impact on the image and perception of Bordeaux wines in terms of their modernity and appeal, with record engagement across social networks in 2024. Building on this momentum, the 2025 program will see a multi-channel strategy, multiplying informal opportunities to (re)connect with those who consume Bordeaux wines, those who sell them and those who promote them around the world. Signature events that bring people together and leave a lasting impressionLaunched in London in 2024, Bordeaux Experience events will be held in Tokyo and San Francisco in 2025. The concept: 2 or 3 days completely devoted to Bordeaux. A team of Bordeaux winegrowers and merchants will be on hand to give both trade and consumers a relaxed, authentic experience that promotes discovery through tastings and masterclasses. In France, Bordeaux Fête le Vin, Europe's biggest wine tourism event, will be returning to Bordeaux in June. Over 1,000 people from the wine sector take part every year, hosting more than 300,000 tastings over 4 days. Consumer-facing promotions with initiatives including La Tournée des Vins de Bordeaux in France (March), sponsorship of the MasterChef in Belgium (March - April), Bordeaux Wine Month in London (September), Big Bottles in New York (September), Bordeaux Wine Fair in Tokyo (October), will all highlight the diversity of Bordeaux wines, in the presence of the people who make them, in both the on- and off-trade. And in more unexpected places for increasingly informal occasionsBordeaux wines will be offered in a number of new settings, highlighting new and unexpected times for consumption, proving to Gen X and millennial audiences that Bordeaux wines can also be enjoyed casually, away from the table. These include Antwerpen Proeft festival (May - Belgium), Rock en Seine (August - France), V and B Fest' (August - France), Love Supreme Festival (July - UK), The Big Feastival (August - UK). As well as wines of all colors by the glass, these pop-up Bordeaux Wine Bars will also offer a selection of wines on tap and in barrels. And education will be central to every initiative with Bordeaux Wine SchoolAt each event, the school, set up over 30 years ago, offers introductory workshops, expert masterclasses and fun activities to enhance the journey of discovery for consumers and professionals alike. The 250 tutors – from Bordeaux, Japan, America, Belgium and beyond – share their knowledge with more than 120,000 people every year. Digital technology as an amplifierBordeaux wines, thanks to winemakers and merchants, continue to reveal their secrets with original content on social media platforms. Explaining, demonstrating, telling the story, and bringing the Bordeaux Lovers community together. And always prioritizing local issuesSince 2020, the #Bordeauxlocal movement has been promoting local products alongside Bordeaux wines in the Gironde. A unifying force, it brings together restaurateurs, wine merchants, oyster farmers and many others. In 2024, #Bordeauxlocal received the support of three regions, covering 90 towns, through the signing of agreements to promote the movement. In 2025, further support will be rolled out. In 2025, Bordeaux continues its strategy to reconquer markets, with people, teamwork and the grassroots at the heart of its approach. Unmissable opportunities with Bordeaux wines in 2025 in the United States After Bordeaux winemakers and negociants flew to San Francisco on May 13th to meet with the press, trade and consumers for an immersive Bordeaux Experience, more events are scheduled in the USA: August: TexSom, Dallas - Texas (trade show for sommeliers) A Bordeaux masterclass and a dinner with Saint-Emilion producers. October: Bordeaux wines take New York! October marks the launch of the on- and off-premise trade promotion in the city, where winemakers and negociants will meet with consumers, conduct sales team trainings, and more. Access the full press release here to learn more about the global Join the Bordeaux Crew program. To discover more about the #JointheBDXcrew campaign, watch the films online at and on YouTube. For more information about Bordeaux Wines, visit the website and follow Bordeaux Wines on Instagram at @bordeauxwines, X (Twitter) at @BordeauxWines and Facebook at @bordeauxwine. About Bordeaux Wines - • 4,637 winegrowers • 300 trading houses • 29 cooperative cellars and 3 unions • 50,000 direct and indirect jobs • 94,700 hectares of Appellation d'Origine Protégée AOP vineyard • More than 75% of the vineyard area certified by an environmental certification • 65 red, dry white, sweet white, rosé and sparkling AOPs • 518 million bottles produced on average over the past 5 years • Founded in 1948, Bordeaux Wines represents the wine growers, wine merchants and brokers that make up the Bordeaux wine industry. Bordeaux Wines has three core roles: Marketing, Economic and Technical. Through its global marketing initiatives, it helps promote and educate wine consumers about the diversity, quality and accessibility of Bordeaux wines through advertising campaigns, digital communications, public and press relations and training. Through its global economic activities, it provides data and information, studies and analyses on the production, the markets and the sale of Bordeaux wine around the world. Through its technical focus, it works to advance knowledge and improve the industry's understanding of various technical issues relating to production and to anticipate new environmental and safety requirements to preserve and protect the quality of Bordeaux wines. Press Contact:Colangelo & Partnerscivb@ View original content to download multimedia: SOURCE Bordeaux Wines Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
