TEHRAN: Iran’s state-run IRNA news agency is reporting the country’s civil aviation agency has banned all flights to and from India and Pakistan because of the dramatic surge in coronavirus cases in the two nations.
IRNA says the decision was made by Iran’s Health Ministry and it takes effect Saturday at midnight.
Mohammad Hassan Zibakhsh, spokesman for Iran’s Civil Aviation Organization noted there are no routine flights between Iran and India and “flights are operated occasionally.”
Several other countries in the region, including the sheikhdoms of the United Arab Emirates, Oman and Kuwait, also have banned flights to and from India over the rise in coronavirus cases there.
Zibakhsh said flights to and from 41 countries already were prohibited in Iran, while those who want to fly to other countries listed as high risk are required to have a coronavirus test in Iran. Travelers over 8 years old need to submit a negative PCR test within 96 hours of departure and do another test on arrival.
Health Ministry spokeswoman Sima Sadat Lari said 18,230 new confirmed cases over 24 hours, bringing Iran's total on Saturday to more than 2,377,000.
Iran bans flights from India and Pakistan
https://arab.news/vrn8r
Iran bans flights from India and Pakistan
- State news agency IRNA says the decision was made by Iran’s Health Ministry and it takes effect Saturday at midnight
- Spokesman for Iran's Civil Aviation Organization says flights to and from 41 countries already prohibited in Iran
Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times
- Pak-Qatar General Takaful Limited offered 30 million shares to investors with ceiling price of Rs14 per share
- Company says IPO proceeds will be used for investments in software, infrastructure, setting up new branches
ISLAMABAD: Pakistan’s first non-life Shariah-compliant takaful operator announced on Thursday that its initial public offering (IPO) was oversubscribed 21 times at the country’s stock exchange, saying the development reflected strong investor confidence in the Islamic insurance system.
The Pak-Qatar General Takaful Limited said earlier this month it would issue 30 million shares with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75 percent of the shares on offer, while the remaining 25 percent will be allocated to retail investors, it added.
“Pak-Qatar General Takaful Limited’s (PQGTL) IPO book-building has concluded with a historic oversubscription of [21x] times, marking the first-ever IPO of a dedicated General Takaful company at PSX,” the company said in a statement.
It said investors responded “strongly” as the strike price closed at Rs 14 per share, compared to the floor price of Rs 10. Total demand reached Rs 4.74 billion [$17 million].
The company said successful bidders will be provisionally allotted 22.5 million shares while the remaining 7.5 million shares will be offered to retail investors on Jan. 28-29.
Shahid Ali Habib, CEO of Arif Habib Ltd., which was the lead manager for the IPO, said that country’s first-ever IPO of any dedicated general takaful company, has made a historic debut at PSX.
Habib said this reflects investor confidence in Pakistan’s fast-growing takaful sector and PQGTL’s strong market position.
The statement further said proceeds from the IPO will be utilized to fund strategic initiatives, such as investments in software and other intangible assets, hardware and infrastructure, marketing and brand development and human resource enhancement.
Proceeds will also be used to establish new branches and transform existing ones to improve operational efficiency and customer experience, it added.
Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.
