Tag Archives: on line

Swiss digital private bank startup, Alpian, raised $ 18 million | Instant News

Alpian, Switzerland’s first mass-market digital private bank, has raised US $ 18 million in its Series B funding round

Alpian, which is incubated by Swiss banking group Reyl & Cie, plans to launch this year – subject to a full banking license from the Swiss Financial Market Supervisory Authority.

This startup is targeting a sizeable demographic in Switzerland – those with investable assets of between CHF100,000 and CHF1 million.

The company plans to persuade these mass wealthy clients by using a combination of machine intelligence and human advisors to create a unique portfolio aligned with personal “preferences, beliefs, philosophies and goals.”

In addition to the core personal banking offering, each account will come with a debit card and a multi-currency account. Alpian also invests in the creation of educational content on financial matters through its recently launched i-vest platform.

Schuyler Weiss, CEO, Alpian, said: “While the Series A fundraiser was aimed at building a digital bank, the Series B fundraising was intended to be used in principle to launch the bank on the Swiss market.

“This approach ensures that Alpian will be in a strong position to provide the best possible service to its customers by the end of this year subject to the issuance of a full banking license by Finma.”


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BQPS-III KE will be online soon | Instant News

KARACHI: K-Electric’s flagship 900 MW power plant, BQPS-III is developing on a fast-track basis as the entire first-unit power suite consisting of gas and steam turbines, generators and heat recovery boilers has been installed at Bin Qasim Power. Complex, said a statement on Thursday.

“All relevant civil structural work has been completed and associated auxiliary and piping is rapidly expanding with the target of ensuring that the first unit is ready for deployment by the height of summer 2021,” the power company said.

The second 450 MW unit is expected to be completed by the end of the year, he added.

It said the RLNG-based power plant would be of great help in meeting Karachi’s demand for electricity and ensuring the city and its industry remained excited to play their part in the national economy.

“The addition of a 900 MW RLNG Power Plant will increase generating capacity, efficiency and reliability,” the power company added.


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Commerzbank will lay off 1,700 jobs in Germany | Instant News

Commerzbank will cut 1,700 jobs in Germany under a voluntary redundancy program due to be completed by the end of the year.

The cuts mark the start of a three-year cost reduction program announced in January that will result in 10,000 job losses and the closure of 340 branches by 2024.

The bank, which employs nearly 50,000 people worldwide, said that one in every three jobs in its home market in Germany would be lost while its 790 branch network would be reduced to 450.

Following negotiations with union leaders, Commerzbank will offer workers a voluntary termination agreement starting July 2021.

“The voluntary program is an important step in reducing the number of staff required,” commented Sabine Schmittroth, a board member in charge of the group’s human resources. “We are quickly providing instruments that will reduce the cost base in the coming year.”

In the first quarter of 2021, the bank will post restructuring fees totaling around € 470 million to cover program costs.


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E&T dept enhances online portals | Instant News

KARACHI: The Sindh Customs and Taxation (E&T) Department is in the process of further enhancing the online tax payment system so that taxpayers can smoothly generate all their challenges and submit taxes through the portal.

Director General of E&T and Narcotics Control Sindh Muneer Ahmed Zardari said the excise and taxation department is paying special attention to the problems faced by the Karachi Chamber of Commerce and Industry (KCCI) as it contributes a large portion of revenue to the E&T department.

He spoke at the meeting during his visit to KCCI.

KCCI Senior VP Saqib Goodluck said the E&T department is the main revenue collection body of the Sindh government, which collects property taxes, professional taxes, infrastructure taxes, registration fees and motor vehicle taxes, hotel taxes, excise, cotton fees and entertainment duties but taxpayers are always faced problems in filing this tax due to complicated procedures and excessive documentation that had to be simplified.


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Karachi men post cell phone advertisements online, robbers appear to be posing as buyers | Instant News

A man in the Bahadurabad area of ​​Karachi has placed an online advert to sell his phone. But instead of attracting serious buyers, she was instead robbed of her Rs400,000 worth of cellphone by people posing as customers.

In the CCTV footage of the incident, the faces of the suspects who came to his house to rob his cellphone were clearly visible. Meanwhile, footage also shows that the event took place at around 20:45 WIB.

Last year, at least 20,155 suspects were arrested in targeted raids, according to an annual report by Karachi police. This includes 269 suspects who were involved in high-level terrorism incidents.

More than 764 street criminals were arrested and 241 meetings were held with criminals, according to police reports. It said 15 police officers hugged the martyr and 44 others were injured. Meanwhile, 49 terrorists and other criminals were killed in the encounter.

Police arrested 3,405 members of 189 gangs involved in vehicle theft, 474 suspects were arrested by police helplines, and 19,909 CCTV cameras were installed throughout the city.


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