April 29, 2024

EB5 Capital Litigates USCIS’ Recent EB-5 Filing Fee Increases

WASHINGTON, April 29, 2024 (GLOBE NEWSWIRE) — On April 22, 2024, EB5 Capital, along with Invest in the USA (IIUSA), the national EB-5 trade association serving the majority of active Regional Centers, and ten other Regional Centers, filed a lawsuit against the United States Citizenship and Immigration Services (USCIS). The lawsuit, Civitas Capital Group et al. vs. USCIS et al., was filed in the District Court for the Northern District of Texas and challenges the “Final Rule” issued by the Department of Homeland Security (DHS) that concerns government filing fees for EB-5 related petitions.

The Final Rule issued by DHS on January 31, 2024, which went into effect on April 1, 2024, revised USCIS’ filing fees for all petitions and applications adjudicated by the agency. Civitas Capital Group et al. vs. USCIS et al. argues that the fee increases for EB-5 related petitions in this Final Rule are far greater both in dollar amounts and in percentage increase compared to any of the other increases in filing fees announced in this rule. “It is essential that USCIS abide by the rule of law in promulgating regulations. Its ongoing failure to do so diminishes the impact and integrity of the EB-5 Program,” commented Lulu Gordon, General Counsel for EB5 Capital. The lawsuit argues that the new fee structure violates several federal laws, including the EB-5 Reform and Integrity Act of 2022 (RIA), the Regulatory Flexibility Act (RFA), the Immigration and Nationality Act (INA), and the Administrative Procedure Act (APA), as well as internal guidelines established by the Office of Management and Budget (OMB).

“These increased fees are unreasonable and will burden our current and future investors,” said Ishaan Khanna, EB5 Capital’s Director of Business Development. Ishaan Khanna’s non-profit organization, The American Immigrant Investor Alliance (AIIA), which advocates for EB-5 investors’ rights, previously filed a similar lawsuit against USCIS in March.

For more information, a copy Civitas Capital Group et al. vs. USCIS et al. is available here.

About EB5 Capital

EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.

Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com

GlobeNewswire Distribution ID 9107671

April 29, 2024

Arqit announces collaboration to deliver out-of-the-box post-quantum cryptography solutions

LONDON, April 29, 2024 (GLOBE NEWSWIRE) — Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), a leader in quantum-safe encryption, today announced the creation of the World’s First Quantum-Safe, 1.89 Tb IPsec products collaborating with Intel.

Arqit and Intel have joined forces for out-of-the-box post-quantum cryptography solutions using Arqit’s Symmetric Key Agreement Platform (SKA-Platform) running on Intel Xeon Scalable processors. Combining Intel technologies with Arqit’s SKA-Platform achieves high-performance IPsec encryption, protecting against quantum attacks without compromising speed.

To find our more, join the Intel and Arqit webinar on 30^th April 2024 REGISTER

David Williams, Arqit Founder, Chairman and CEO said:
“Our collaboration with Intel delivers the groundbreaking introduction of the world’s inaugural quantum-safe, 1.89 Tb IPsec solution. Cyber threats continue to become more sophisticated, including the imminent advent of quantum computing, enterprises seek robust defences. Our joint effort with Intel provides off-the-shelf products that not only harden networks but also make them quantum-safe whilst adhering to core standards like RFC 8784.”

Notes to Editors

Arqit representatives will be attending RSA (6-9 May 2024) and will be available for interview. www.rsaconference.com/usa.

Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

About Arqit

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) supplies a unique encryption software service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Compatible with NSA CSfC Components and meeting the demands of NSA CSfC Symmetric Key Management Requirements Annexe 1.2. and RFC 8784, Arqit’s Symmetric Key Agreement Platform uses a lightweight software agent that allows end point devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and facilitate Zero Trust Network Access. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The product sits within a growing portfolio of granted patents. It also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. Arqit is winner of two GSMA Global Mobile Awards, The Best Mobile Security Solution and The CTO Choice Award for Outstanding Mobile Technology, at Mobile World Congress 2024, recognised for groundbreaking innovation at the 2023 Institution of Engineering and Technology Awards and winner of the National Cyber Awards’ Innovation in Cyber Award and the Cyber Security Awards’ Cyber Security Software Company of the Year Award. Arqit is ISO 27001 Standard certified. www.arqit.uk

Media relations enquiries:
Arqit: pr@arqit.uk

Investor relations enquiries:
Arqit: investorrelations@arqit.uk
Gateway: arqit@gateway-grp.com

Caution About Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit’s information technology and communications system, (vii) the enforceability of Arqit’s intellectual property, and (viii) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2023 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.

GlobeNewswire Distribution ID 9107084

April 29, 2024

President Zardari Awards Nishan-i-Imtiaz to Turkish Land Forces Commander

Islamabad, In a significant display of bilateral ties, President Asif Ali Zardari today awarded the Nishan-i-Imtiaz (Military) to General Selcuk Bayraktaroglu, Commander of the Turkish Land Forces, during a special ceremony at Aiwan-e-Sadr. This prestigious military honor recognized General Bayraktaroglu’s efforts in strengthening defense relations between Pakistan and Turkiye.

According to Pakistan Peoples Party, the award ceremony was followed by a detailed meeting between President Zardari and General Bayraktaroglu, which was also attended by Pakistan’s Chief of Army Staff, General Syed Asim Munir. The discussions focused on further enhancing the defense cooperation between the two nations, which both parties agreed should be expanded for mutual benefit.

During the meeting, President Zardari expressed pride in Pakistan’s longstanding relationship with Turkiye, highlighting the consistent support from Turkiye on crucial issues. He noted several collaborative projects currently underway that aim to deepen these bilateral ties. President Zardari also emphasized the importance of increasing people-to-people contact and cooperation in various fields such as agriculture, education, art, and culture to bring the citizens of both countries closer together.

He specifically appreciated Turkiye’s President Recep Tayyip Erdogan for his friendship and personal commitment to strengthening the relationship, citing recent communications that underscored this dedication.

In his response, General Bayraktaroglu reiterated his commitment to enhancing the defense collaboration, suggesting that both countries have significant roles to play in promoting regional peace and stability. He expressed gratitude for the recognition of his efforts through the Nishan-i-Imtiaz (Military) and assured his continued dedication to bolstering the defense ties between Pakistan and Turkiye.

The ceremony concluded with President Zardari congratulating General Bayraktaroglu on his award and expressing hope that his efforts would further solidify the defense cooperation between the two allied countries.

April 29, 2024

Pakistan Red Crescent Society Engages Moroccan Ambassador to Bolster Humanitarian Cooperation

Islamabad, The Pakistan Red Crescent Society (PRCS) and the Kingdom of Morocco have taken significant steps to strengthen their humanitarian partnership, following a courtesy meeting between PRCS Chairman Sardar Shahid Ahmed Laghari and Moroccan Ambassador Mohammed Karmoune on Friday at the Moroccan Embassy in Islamabad.

According to Pakistan Red Crescent Society, the meeting served as a critical platform for both parties to explore avenues for enhanced cooperation in humanitarian aid and disaster management. PRCS Chairman Laghari detailed the ongoing initiatives and projects of the society, emphasizing its commitment to supporting vulnerable populations across Pakistan, particularly in the aftermath of the 2022 monsoon floods.

During the discussions, Chairman Laghari highlighted the importance of international solidarity and cooperation in addressing global humanitarian challenges. He expressed gratitude for Morocco’s ongoing engagement and support, especially during events such as the International Donors Conference organized by PRCS. The chairman also conveyed his hope for increased support from the Moroccan government and its humanitarian organizations, including the Moroccan Red Cross, to bolster PRCS efforts in Pakistan.

Ambassador Karmoune appreciated the insights shared by Chairman Laghari, particularly praising the PRCS’s response to the flood disaster. He committed to facilitating a visit by Chairman Laghari to Morocco, aiming to meet with leaders of the Moroccan Red Cross and other humanitarian organizations to discuss potential collaborations. The Ambassador acknowledged the crucial role of organizations like PRCS in alleviating human suffering and enhancing community resilience.

The meeting concluded with Chairman Laghari presenting a memento and a souvenir to Ambassador Karmoune, symbolizing the enduring spirit of humanitarian cooperation between Pakistan and Morocco.

April 29, 2024

National Institute of Management Officers Visit Pakistan Red Crescent Society Headquarters

Islamabad, In a significant collaborative venture, 21 members of the 35th Senior Management Course from the National Institute of Management (NIM), Islamabad, visited the Pakistan Red Crescent Society (PRCS) National Headquarters on Thursday. This visit was part of the SMC’s local visit and field research course, designed to enhance their understanding of PRCS’s humanitarian efforts and operations.

According to Pakistan Red Crescent Society, the event featured presentations and discussions, with key PRCS officials including Chairman Sardar Shahid Ahmed Laghari and Secretary General Muhammad Abaidullah Khan briefing the delegation on the organization’s mandate, history, and broad scope of operations. The PRCS leaders highlighted their major initiatives, especially the extensive relief activities during the monsoon floods of 2022, which reached over 2.8 million people across 55 districts.

Chairman Laghari urged the senior management officers to support and advocate for PRCS in their future roles within the government, emphasizing the importance of their contributions to strengthening the organization’s humanitarian missions. “We eagerly anticipate your invaluable contributions to strengthening PRCS, as you persistently support its humanitarian efforts in service to humanity,” stated Chairman Laghari.

Mr. Ejaz Ahmed Bajwa, head of the SMC delegation, expressed his admiration for PRCS’s significant humanitarian contributions and confirmed the selection of PRCS as a focal point for their field research, acknowledging its impact and the strong leadership of Chairman Laghari.

The visit also included a comprehensive overview of the Red Cross Red Crescent Movement and the specific operations of PRCS, underscoring the organization’s expanded program outreach and enhanced transparency under the current leadership.

The meeting concluded with a series of symbolic gestures, including a badge-pinning ceremony, where all SMC members were pinned with PRCS badges to signify their commitment to humanitarian causes. Additionally, all members registered themselves as PRCS volunteers, further solidifying the relationship between PRCS and civil servants.

The delegation toured the Regional Blood Donor Center at PRCS NHQ and expressed commendation for PRCS’s efforts in blood donation. Mr. Bajwa documented his positive impressions in the visitor’s book at the PRCS Library, marking a memorable conclusion to the visit.

April 29, 2024

Karachi Charities Propose Partnership with Government to Enhance Education Spending Efficiency

Karachi, Leaders from the Shahid Afridi Foundation (SAF) and Green Crescent Trust (GCT) have proposed a collaborative approach with the newly elected federal and provincial governments to reform the financial management of education budgets. The offer aims to increase accountability and transparency in the allocation and utilization of funds designated for public schooling, potentially transforming educational outcomes for underprivileged students.

According to Green Crescent Trust, the joint proposal was put forward by SAF Chairman Shahid Afridi and GCT CEO Zahid Afridi during a fundraising event for both organizations. They highlighted the inefficiencies in the current government schooling system, particularly in Sindh, where substantial funds are spent with minimal impact on educational quality. Zahid Afridi detailed their successful low-cost model which has significantly improved student performance in their charitable schools, suggesting this approach could be replicated on a larger scale to benefit government-run schools.

The CEOs of both charities expressed their readiness to assist the federal and provincial governments in implementing systems that would ensure more effective use of the educational budgets. Zahid Afridi illustrated the contrast in spending and outcomes, noting that their schools spend less but achieve higher academic success, with up to 60% of students attaining top grades.

Moreover, the event also served as a platform for discussing broader educational strategies, including the expansion of the GCT’s network of schools in Sindh, which aims to serve 100,000 children by 2025. Shahid Afridi emphasized the importance of education for girls, linking female literacy to broader educational gains within families.

The dialogue underscored the potential for public-private partnerships to address educational challenges, as echoed by Abdul Kabir Kazi of the Sindh Education Foundation, who advocated for increased collaboration between the government, NGOs, and other stakeholders to accelerate the establishment of new educational facilities, especially in underserved areas.