Latest news with #PoA
Business Recorder
4 days ago
- Business
- Business Recorder
Probe into power projects: Senate panel for action against PD for providing ‘misleading' info
ISLAMABAD: The Senate Standing Committee on Economic Affairs has recommended the Economic Affairs Division (EAD) taking action against the Power Division for allegedly providing misleading information during an inquiry initiated by the former caretaker Federal Minister for Energy. The inquiry pertains to the ACSR Bunting Conductor tender and the World Bank-funded 765kV Dasu-Islamabad Transmis-sion Line Project (Lot-1). According to official documents, Additional Secretary Power Division, Imtiaz Hussain Shah, informed the Committee on June 30, 2025, that the Ministry of Foreign Affairs had confirmed no Power of Attorney (PoA) related to Chinese firms M/s Henan Tong-DA Cable Co. Ltd. or M/s Jiangsu Zhongtian Technology Co. Ltd. was submitted to the Pakistani Embassy in Beijing for verification. The Embassy also clarified that since Pakistan joined the Apostille Convention in November 2024, such attestations are no longer required through diplomatic channels. HUBCO proposes $51mn investment in Thar-based coal projects The Committee, chaired by Senator Saif Ullah Abro, directed the EAD and Power Division to directly contact the companies involved to determine whether they had ever submitted such documents. In its session, the Committee was also briefed on the submission of records for a special audit into the ACSR Bunting Conductor case. These were handed over to the Auditor General's office on June 4, 2025. Regarding the high-voltage Dasu–Islamabad Transmis-sion Line (Lot-1), the Power Division shared that the internal inquiry led by GM NGC Muhammad Mustafa had recommended referring the matter to the World Bank. The Bank, in response, confirmed that the procurement process was conducted in line with its guidelines. However, the Committee expressed concern over a potential cover-up. Officials from the Power Division failed to present the supplementary report that supposedly formed the basis for communication with the World Bank. Instead, they showed only a letter written by a former senior official, which the Committee suspects was intended to conceal irregularities. The panel demanded all correspondence relating to that letter and clarified that under World Bank procurement regulations, the borrower (in this case, Pakistan) holds full responsibility for the procurement process. The Committee was told that no formal inquiry report was ever prepared or submitted by former caretaker Energy Minister Muhammad Ali, despite his active role as head of an internal investigation committee. Power Division officials stated they had only heard about an unsigned report, which was never officially shared. The Committee was visibly shocked and questioned how the former Minister was able to present conclusions at a Senate Standing Committee meeting on February 20, 2024, without a documented report. It directed the Power Division to locate and submit even an unsigned copy of the inquiry findings and recommended that EAD take disciplinary action against the Power Division for providing misleading information in this matter. The Committee further advised EAD to seek clarification on how both the former caretaker Minister and the then Secretary of the Power Division—members of the inquiry committee—could act with such negligence, allegedly concealing facts about financial and procedural irregularities in key power sector tenders. On the issue of recovering Rs 1.282 billion from a contractor involved in the 765kV Dasu–Islamabad Grid Station (Lot-IV), the Committee clarified that the NTDC Board was not authorized to conduct an independent inquiry. It recalled earlier discussions confirming that the disputed amount was not to be considered in the bid evaluation, per the bidding documents. The Committee instructed EAD to formally write to the Public Accounts Committee (PAC) to ensure recovery of the Rs 1.282 billion from the lowest bidder in line with earlier recommendations. Copyright Business Recorder, 2025
Scottish Sun
30-06-2025
- Business
- Scottish Sun
The 6 money habits that could warn of dementia a decade before a diagnosis
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) KEY money habits could provide clues that someone is experiencing cognitive decline - up to 10 years before a dementia diagnosis. Frequently losing bank cards or requesting PIN resets could serve as early signals of the memory-robbing disease, researchers said. 1 Frequently losing cards and requesting PIN resets could be early signs of cognitive decline Credit: Getty A study from University of Nottingham's School of Economics suggests that routine banking data could be used to flag dementia years before it is diagnosed. Early detection of dementia through financial behaviours could help support vulnerable people, researchers added. When a person starts to have problems with their memory and thinking, this is called mild cognitive impairment. For some people, these issues can be early signs of a disease that will eventually cause dementia. The research team - led by Professor John Gathergood from the University of Nottingham and David Leake at Lloyds Banking Group - examined anonymised banking records from more than 66,000 people. They also compared data from 16,742 people who were registered for power of attorney (PoA) due to a loss of financial capacity with a group of 50,226 individuals of the same age who had recorded no loss in capacity. PoA is a legal mechanism that allows someone to appoint another person to make financial decisions on their behalf if they lose mental capacity. "Alzheimer's disease and related dementias is considered the single biggest cause of mental incapacity among older adults," study authors wrote in JAMA Network Open. The study found that people with cognitive decline start to show small but significant changes in their banking behaviour. These include being more likely to lose bank cards, request new PINs and report fraud. Five simple tests that could indicate dementia Spending less money on travel and hobbies like gardening, logging into online banking less and increasing household bills were also red flags. Specifically, researchers found that people who registered for PoA were 9.6 per cent less likely to spend money on travel five years before doing so. They were also 7.9 per cent less likely to splurge on hobbies such as gardening. Researchers said cognitive decline could be prompt people to fewer activities outside their homes and spend more money on their home life. On average, they logged into online banking one fewer time each month and they were more likely to report fraud, lose cards, and request PIN resets. This suggested that people who eventually lost financial capacity were "gradually losing the ability to monitor their finances, which in turn increased the likelihood of unwanted transactions going unnoticed", researchers suggested. The changes occurred up to a decade before people were formally identified as lacking financial capacity, they went on. Prof Gathergood explained: 'These patterns provide the first large-scale evidence that behavioural data held by financial institutions can reveal the early emergence of cognitive decline. Is it ageing or dementia? Dementia - the most common form of which is Alzheimer's - comes on slowly over time. As the disease progresses, symptoms can become more severe. But at the beginning, the symptoms can be subtle or mistaken for normal memory issues related to ageing. The US National Institute on Aging gives some examples of what is considered normal forgetfulness in old age, and dementia disease. You can refer to these above. For example, it is normal for an ageing person to forget which word to use from time-to-time, but difficulting having conversation would be more indicative of dementia. Katie Puckering, Head of Alzheimer's Research UK's Information Services team, previously told The Sun: 'We quite commonly as humans put our car keys somewhere out of the ordinary and it takes longer for us to find them. 'As you get older, it takes longer for you to recall, or you really have to think; What was I doing? Where was I? What distracted me? Was it that I had to let the dog out? And then you find the keys by the back door. 'That process of retrieving the information is just a bit slower in people as they age. 'In dementia, someone may not be able to recall that information and what they did when they came into the house. 'What may also happen is they might put it somewhere it really doesn't belong. For example, rather than putting the milk back in the fridge, they put the kettle in the fridge.' 'It is a powerful demonstration of how anonymised banking data can be used responsibly to protect the most vulnerable members of society.' In the UK, more than a million people aged 65 years or older have some form of dementia. This number is expected to surpass 1.4 million by 2040. Researchers said banking data - which is already collected by banks - may be used to screen for early signs of dementia or cognitive difficulties in the future. "In addition to highlighting the financial vulnerability associated with losing financial capacity, this study illustrates how granular financial data can help us understand how declining financial capacity manifests in everyday behaviours," they said. "In contrast to biomarkers [biological clues in the blood or tissues], cognitive and functional measures, such behavioural financial data, are already stored in large volumes by financial institutions, which have a direct interest in protecting vulnerable customers. "If data privacy and individual consent considerations allow, combining these data sources could provide valuable insights into how behavioural markers vary across specific conditions (eg, Alzheimer's disease vs frontotemporal dementia). "Such insights may inform the development of screening strategies." Prof Gathergood added: 'As a society, we need to better support people at risk of losing financial capacity – long before the signs become obvious to friends or family. "Early detection through financial behaviour may be a key part of that solution. 'By better understanding behavioural markers of declining capacity, banks can explore how to strengthen safeguards for customers.'
See - Sada Elbalad
21-06-2025
- Business
- See - Sada Elbalad
OIC, IOM sign Plan of Action
Mohamed Mandour On the margin of the 51st Session of the Council of Foreign Ministers taking place on 21-22 June 2025, in Istanbul, Republic of Turkiye, Ambassador Tarig Ali Bakheet, Assistant Secretary-General for Humanitarian, Social and Cultural Affairs of the OIC, and Mr Othman Belbeisi, Regional Director for Middle-East and North Africa of the International Organization for Migration (IOM), and Special Representative of IOM to the OIC, signed a Plan of Action (PoA). The PoA will serve as an implementation tool of the existing Memorandum of Understanding signed by the two Institutions in 2003. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Time of India
05-06-2025
- Business
- Time of India
Tribunal flags lapse: NCLT seeks updated Power of Attorney from SpiceJet's lessors; next hearing set for July 3
The National Company Law Tribunal (NCLT) halted proceedings on insolvency pleas by three Ireland-based lessors over a Rs 77 crore default, after SpiceJet raised a legal validity issue. The tribunal has asked three aircraft lessors of SpiceJet to submit a valid Power of Attorney (PoA) to continue insolvency proceedings against the airline, after it was pointed out that the current PoA on record expires in February 2025, PTI reported. The matter pertains to petitions filed in April 2024 by AWAS 36698 Ireland, AWAS 36694 Ireland, and AWAS 36695 Ireland, seeking to initiate insolvency proceedings against the low-cost carrier over alleged defaults totalling Rs 77 crore. During the hearing on June 2, SpiceJet's counsel argued that the PoA held by the person filing the petitions was only valid until February 11, 2025, and no fresh document had been submitted to prove current authorisation. The NCLT, in its order, noted the objection and said: 'In order to continue the proceeding by the person who has initiated this petition, there must be a valid Power of Attorney existing at present point of time.' In response, counsel representing the lessors requested additional time to file the updated document. Accepting the request, the tribunal posted the matter for next hearing on July 3, 2025. SpiceJet, which has been in operation for 19 years, is facing several insolvency petitions across forums. These include filings from creditors such as Willis Lease, Aircastle Ireland Ltd, Wilmington, and Celestial Aviation, both at the NCLT and the appellate tribunal NCLAT. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
02-06-2025
- General
- Time of India
Free Aadhaar updates available only until June 14: All you need to know
Aadhaar cardholders have until June 14, 2025, to update their identity and address documents online for free, the Unique Identification Authority of India ( UIDAI ) has announced. After this date, any updates will require a visit to an Aadhaar Enrolment Centre and attract a fee of Rs 50. As per UIDAI rules, Aadhaar holders must update their Proof of Identity (PoI) and Proof of Address (PoA) every 10 years from the date of enrolment to keep their records accurate. How to update for free (online) 1. Visit the official UIDAI website and go to the myAadhaar portal. 2. Log in using your 12-digit Aadhaar number and the captcha code. 3. You will get an OTP on your registered mobile number to verify your identity. 4. After logging in, check your existing Proof of Identity (PoI) and Proof of Address (PoA) documents. 5. If you need to update them, click on the 'Document Update' option. 6. Select the documents you want to update from the menu and upload clear scanned copies. 7. Make sure the files are in JPEG, PNG, or PDF format and under 2MB. 8. Review your details, submit the update request, and note down the Service Request Number (SRN) to track your update status. What documents to submit? Proof of Identity and Address: Ration Card, Voter ID, Government-issued ID with address, Indian Passport Proof of Identity only: PAN Card, Driving License, School Marksheet or Leaving Certificate with photo, Government-issued ID without address Proof of Address only: Recent Electricity, Water, or Gas bills (last 3 months), Bank or Post Office Passbook, Rent/Lease agreement How to submit documents and in what format? Upload documents online via the myAadhaar portal or visit any Aadhaar centre in person. Accepted file formats: JPEG, PNG, PDF (max size 2MB each). For biometric updates (photo, fingerprints), you must visit an Aadhaar Enrolment Centre Miss the deadline? Post-June 14, all document updates must be done offline at an Aadhaar Centre, and a fee will apply. Delays may cause issues in services that require up-to-date Aadhaar data. Stay updated, and complete your free online update before June 14 to avoid future hassles and charges.
