Latest news with #FASA
Business Recorder
04-07-2025
- Business
- Business Recorder
ZTBL privatisation: PC Board approves appointment of FA
ISLAMABAD: The Privatisation Commission (PC) Board, in its 236th meeting held Thursday under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation and chairman PC, approved the appointment of the Financial Advisor for the privatisation of Zarai Taraqiati Bank Limited (ZTBL). Following a competitive and transparent selection process, the board approved the appointment of a consortium of Financial Advisors (FA) led by Next Capital Limited for the ZTBL transaction. Other members of the consortium include Ijaz Ahmed & Associates (Legal), Baker Tilly Mehmood Idrees Qamar (Accounting & Tax), Executives Network International (ENI-HR), Bridge Public Relations (Media), Savills Pakistan (Pvt) Ltd (RE-Valuer) and Prima Global Consulting (Pvt) Ltd (Actuarial). PC tells Senate panel: PIA, Roosevelt and ZTBL lead the sell-off list The consortium secured the highest technical and financial ranking among six bidders, which included leading consortiums headed by Arif Habib Limited, AF Ferguson, AKD Securities Limited, Bridge Factor, and JS Bank. The board also approved the constitution of a Negotiation Committee to finalise the Financial Advisory Services Agreement (FASA) with the selected consortium. This development marks a significant step forward in the government's ongoing privatisation programme. The Privatisation Commission is actively advancing key transactions to promote efficiency, enhance private sector participation, and support broader financial sector reforms. The ZTBL is among the priority transactions in the current privatisation pipeline. The appointment of a top-tier consortium of FAs reflects the government's strong commitment to executing the process in a professional, transparent, and timely manner. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
No price tag yet: govt denies $100mn valuation for Roosevelt Hotel
The Privatisation Commission of Pakistan on Saturday clarified that no base price has yet been determined for the proposed sale of the iconic Roosevelt Hotel in New York, refuting recent media reports claiming a $100 million valuation. 'The Privatisation Commission has noticed a misleading news report appearing on 27th June 2025 in certain news media outlets asserting that Pakistan has set $100 million as base price for the sale of Roosevelt Hotel. 'It is clarified that no base price has yet been determined for Roosevelt Hotel, New York's privatisation, which can only be set at the time of bidding,' read the statement. The commission highlighted that the report misquotes Adviser to the Prime Minister on Privatisation, Muhammad Ali, who had referred to an estimated initial partial payment to be made by the successful party on signing the agreement, expected during the current fiscal year. 'The base price and timing for realisation of total proceeds from the privatisation of Roosevelt Hotel will be based on transaction structure and final terms of the agreement approved by the government,' it said, with the finalisation of the transaction structure expected to be taken up in the next CCOP meeting. Last month, Defence Minister Khawaja Asif told the National Assembly that the government is exploring a joint venture to operate the Roosevelt Hotel, aiming for long-term economic benefits rather than selling the asset outright. Describing the nearly century-old 19-story hotel as 'a strategic gem,' Asif praised its prime Manhattan location and stressed the government's intent to retain ownership. 'Selling might patch a short-term fiscal wound,' he said, 'but a joint venture ensures Pakistan keeps a foot on that lucrative property while raking in steady profits.' The Roosevelt Hotel has long been viewed as Pakistan's prized overseas asset, with repeated calls over the years to sell it for quick cash. The landmark hotel closed in 2020 after sustaining massive financial losses associated with the COVID-19 pandemic. It became operational in 2023 as a shelter for asylum seekers after the Pakistani government inked a three-year $220 million lease agreement with the New York City government to operate the Roosevelt Hotel. In February 2024, the government signed a Financial Advisory Services Agreement (FASA) with a consortium led by Jones Lang La Salle Americas Inc (JLL) for the joint venture development of the Roosevelt Hotel. In November 2024, it was learnt that Qatar had explored partnering with Pakistan in managing the Roosevelt Hotel. The hotel, which opened in 1924, was named after President Theodore Roosevelt. It is located next to the Grand Central Terminal, the city's central train terminal.
Forbes
05-05-2025
- Entertainment
- Forbes
Travel Through The History Of An Influential Science Fiction RPG
The history of the Traveller role playing game, This Is Free Trader Beowulf, is not available in ... More print anf electronic formats. Marc Miller created the Traveller role playing game in 1977. It is often mentioned in the same breath as Dungeons & Dragons and Call of Cthulhu as a game that has influenced generations of gamers. It has seen many different adaptations and iterations in the 48 years of its existence. This week, Bundle of Holding is offering several deals to celebrate the game's May Day holiday. Several of the deals feature material from different points in the game's history. One of them is a real life history by one of tabletop gaming's most celebrated historians. Traveller is a game of deep space exploration and futuristic commerce. In a typical game, players are the crew of a small ship that flies the frontier, takes on cargo and gets into adventures. For players that have ever wanted to be Han Solo, Malcolm Reynolds, James Holden or Peter Quill, Traveller remains a top choice. One of the most interesting aspects of Traveller is the character creation. Players roll through a series of charts to build their characters, putting together a history, allies and enemies as the character comes together. In many versions it becomes a minigame of risk and reward because there's a chance that the character won't survive another term on the charts. Gaming historian Shannon Appelcline produced Designers & Dragons, a fantastic four volume set that covers the first four decades of tabletop roleplaying games. He applies his scholarly focus to Traveller in This is Free Trader Beowulf which details multiple versions of the game. It is currently available as a discount PDF deal on Bundle of Holding through May 7th, 2025. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder The book traces its origins at Game Designers Workship which also created several other well known games in the 80s. At one point, Traveller was connected to the timelines of th companies other games such as 2300 AD or Twilight: 2000. It also tried to adapt to the changing science fiction landscape of the era with MegaTraveller. Traveller is a frequent feature on the Bundle of Holding website. Six bundles have been revived this week to celebrate the release of This is Free Trader Beowulf. These bundles show the evolution of the game as well as the industry. For example, FASA, one of the included bundles, began as a licensee producing ship blueprints and adventures for Traveller. The name is a reference to the 1933 Marx Brothers film Duck Soup as the letters stand for the Freedonian Air & Administration. FASA would go on to become a powerhouse in the industry in the late 80s, creating such games as Shadowrun and Battletech. Mongoose Publishing began putting out its edition of the game in 2008 with two bundles representing it in this offer. The essentials bundle contains the main rules, expansions and guidelines for building your own ship. Pirates of Drinax offers a freewheeling campaign where players recieve a ship in exchange for becoming the scoruge of space to help a planet win its freedon. The original designer hasn't left the game behind either. Marc Miller released Traveller5 as a take that leans into the harder aspects of science fiction. This is the version of the game for the physics fans and armchair astronauts. The light mechanics means the Traveller books in all these collection are easily compatible with one another. The game books are all available through the end of the week in digital format. The history book is available through May 7th, 2025.
Zawya
27-03-2025
- Business
- Zawya
Can franchising in South Africa keep up with global growth?
The Franchise Association of South Africa (FASA) recently held its 46th Annual General Meeting as the representative association that has overseen the growth of franchising over more than four decades contributing to the South African economy. According to FASA's 2023/24 Franchise Survey that covered the three years of Covid-19, this sector that spans around fourteen different business sectors, showed remarkable resilience in weathering those turbulent years, with the 727 franchise systems and its 68,463 franchisees contributing 15% to the country's GDP and employing in the region of 500,000 people. But, according to Fred Makgato, FASA's CEO, some franchise companies are struggling to regain their footing and new franchise concepts are impeded by political uncertainty, higher interest rates, rising cost pressures and cautious consumer spending. 'With government committing billions to transformation through small business development, it needs to look at the franchising business format as the ideal way to roll out viable business enterprises based on the tried-and-tested universal franchising principles – not only on the commercial front but in terms of using franchise business principles to roll out public/private partnerships to address service delivery.' Despite the headwinds that franchising is experiencing due to global political and economic shifts, franchising around the world remains buoyant and viable as it remains the backbone of many economies. Leading the field is the USA where a report from the International Franchise Association, produced in partnership with Frandata, projects an economic output from franchised companies in the United States to exceed $936.4bn in 2025 generated from is 830 876 franchise establishments that create 8.8 million direct jobs. The economic context of South Africa 'Franchising has emerged as a powerful engine of growth and economic development worldwide, and South Africa is no exception. In a country grappling with high unemployment, economic inequality, and the need for sustained entrepreneurial activity, franchising offers a viable and sustainable business model.' That's the view of Eric Parker of Franchising Plus, a founding member of FASA and South Africa's franchise guru who is a strong proponent of franchising as a sustainable business option for South Africa, examining its potential benefits, challenges, and the overall impact on the South African economy. 'South Africa's economy is characterised by a dual nature: a well-developed industrial base co-existing with widespread poverty and unemployment' says Parker. 'According to recent statistics, the unemployment rate remains alarmingly high, and economic growth has been sluggish. Against this backdrop, small and medium-sized enterprises (SMEs) are viewed as critical drivers of economic development and job creation. Franchising, as a business model, aligns well with these national priorities.' Franchise statistics In a franchise survey that the Franchise Association of South Africa conducted and sponsored by Absa, the franchise industry's estimated turnover for 2023 reached R999bn, marking a 36% increase from 2019. This substantial figure underscores the industry's growth and represents 15% of South Africa's total GDP of R6,660bn in 2022. Benefits of franchising in South Africa 1. Job Creation and Economic Empowerment: Franchising has a significant multiplier effect on job creation. Each new franchise outlet not only creates direct employment opportunities but also stimulates indirect jobs in supply chains and related services. In a country where youth unemployment is a critical issue, franchising can provide young entrepreneurs with a structured pathway into business ownership and management. 2. Entrepreneurial Development: Franchising offers a lower-risk route to entrepreneurship. Franchisees benefit from the established brand, proven business models, training, and support from the franchisor. This reduces the likelihood of business failure compared to starting an independent business. For many South Africans with limited business experience, franchising provides an accessible entry point into the business world. 3. Economic Decentralisation: Franchising can promote economic activity beyond the urban centres, reaching rural and underdeveloped areas. By leveraging local resources and markets, franchises can contribute to the economic decentralization and development of remote areas. This geographical spread can help alleviate regional economic disparities. 4. Knowledge and Skills Transfer: The franchising model is based on a symbiotic relationship between the franchisor and franchisee. The franchisor provides ongoing training, operational support, and marketing expertise, ensuring that franchisees are well-equipped to run their businesses effectively. This continuous skills transfer is invaluable in a country where educational and skills deficits are prevalent. Challenges of franchising in South Africa 1. Access to Finance: One of the primary barriers to franchising in South Africa is access to finance. Many potential franchisees lack the capital required to invest in a franchise. While some franchisors offer financing options, there is still a need for more robust financial support mechanisms from both private and public sectors. 2. Regulatory Environment: Navigating the regulatory landscape in South Africa can be challenging. Potential franchisees and franchisors must contend with various laws and regulations, including labour laws, tax regulations, and industry-specific legislation. A more streamlined and supportive regulatory framework could enhance the growth of franchising. 3. Market Saturation: In urban areas, certain franchise sectors, such as fast food and retail, are approaching saturation. This necessitates innovation and the exploration of new sectors and markets, including healthcare, education, and renewable energy, which are less saturated and hold significant growth potential. In 2025, the franchising industry stands at a crossroads of opportunity and challenge. Success will hinge on the ability to adapt to economic shifts, embrace technological innovations, and align with evolving consumer values. The Franchise Association of South Africa appeals to government to partner with it to plan a growth roadmap to capitalize on opportunities, unlock the entrepreneurial spirit that can transcend generations, stimulate new business opportunities that will lead to job growth and prosperity. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
