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Inactive taxpayers lose access to forex bank accounts


Inactive taxpayers lose access to forex bank accounts
Business
March 11, 2021
KARACHI: Banks have refused to facilitate transactions in foreign exchange accounts of taxpayers whose names don’t appear in active taxpayer list (ATL) because of late filing of returns, people familiar with the matter said on Wednesday.
The accountholders complained that their banks stopped their transactions on the context that their names are not included in ATL. They have been facing the hassle since the issuance of the new ATL for tax year 2020 on March 1.
“Half of return filers have become inactive after the new ATL,” a bank manager said, requesting anonymity. They need to pay surcharge to be included in the ATL. ....

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Julius Baer upgrades India to overweight as fastest growing major economy in 2021


India to overweight as it will be the fastest growing major economy in 2021.
We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450, it said in a note.
An economic recovery is underway, and we look for 9% y/y GDP growth this year, followed by 7% next year. We look for earnings per share to grow on average over 25% over the next 3 years. It would be unprecedented for the stock market to fall in an environment of such strong growth, it added.
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Scientists think herd immunity has been achieved in large parts of the country, which would explain why daily new cases have fallen from almost 100,000 in September to less than 15,000 presently. ....

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Nexera Energy Inc.: Nexera to Launch New Subsidiary to Plug Inactive Wells in Texas


Nexera Energy Inc.: Nexera to Launch New Subsidiary to Plug Inactive Wells in Texas
SAN ANTONIO, TX and CALGARY, AB / ACCESSWIRE / February 18, 2021
/ (TSXV:NGY)(OTC PINK:EMBYF) (the Company or Nexera ) an existing producer of oil and gas in South Texas is pleased to announce that it plans to form a new wholly owned subsidiary, Nexera Energy Services, Inc., to engage in plugging inactive oil wells. The Company has secured and owns all the required equipment, and has the expertise, including qualified employees, to engage in the plugging of inactive and orphaned wells throughout the State of Texas.
Nexera Energy Services will work with local landowners, government and regulatory agencies, and academic institutions and experts, to remediate the abandoned and orphaned well issue, one well at a time, starting with plugging three inactive wells on its own leases. ....

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