World

Top 5 Countries for Free Higher Education

Published

3 years ago

September 10, 2022

In this growing era of competitiveness, higher education is becoming a necessity for every individual. Without proper higher education, the opportunities to get hired for jobs are getting thinner. No matter the caste or creed, education is considered to be the basic right of every individual by international organizations such as the United Nations.

Although the cost of higher education is skyrocketing due to its rising demand, there are some countries that offer free education that translates into a valuable degree. These countries are a gateway for smart people who have fewer resources and opportunities. Most of the Central and Eastern European countries invest heavily to ensure the provision of free higher education.

1. Germany

Germany is one of the most important countries of Europe, that has time and again saved many other European nations from defaulting. In 2014, the government of Germany abolished any fee for higher education in the public universities of its 16 states.

Most of these German universities offer German as well as English courses to accommodate foreign students. Within a short span of 8 years, it has become a student’s best choice to attain free higher education.

The technical, as well as the manufacturing industries of Germany are state-of-the-art. These industries provide numerous job opportunities right after graduation.

2. Norway

If you are planning to study in Norway, you do not have to worry about the exorbitant tuition fee for higher education. Regardless of an individual’s national identity, even the top-tier public universities of Norway do not charge any fee for higher education. The government takes care of the university expenses by collecting a heavy taxpayer fund.

From undergraduate to Doctoral degrees, Norway has to offer a wide range of academic principles. The only downside of pursuing higher education in Norway is that you will have to be proficient in the Norwegian language as most universities only offer programmes in the local language.

3. Sweden

The state-funded institutions of Sweden are all free of cost for all the EU residents. Additionally, Swedish universities pay for the expenses of students pursuing PhD for their research work. Other international students, non-residents of EU, are also eligible to get merit-based scholarships, funded by the Swedish government to attract smart people from around the world. Sweden is also surprisingly a frontrunner in the world of online gambling, with it being one of the best places to run an online casino from. An example of such an online gambling platform is bet777.

Stockholm University, Karolinska University and Uppsala University are among the most renowned universities for international students that offer free of cost education.

4. Austria

One of the most lifestyle friendly countries in the world, Austria also has a free higher education system. Great minds, such as Erwin Schrodinger and Sigmund Freud were the products of the Austrian education system. Offering a wide range of degrees in the most advanced programmes emerging in the academic fields around the world, Austrian higher education is well-known throughout Europe.

Owing to its being at the crossroads of European trade routes, the environment of Austria is friendly and supportive towards the foreigners. The cost of living is also affordable. The University of Innsbruck and University of Vienna are the most popular universities for foreign students in Austria.

5. Finland

Known as the happiest country in the world, Finland also offers free higher education in most of its public universities, regardless of nationality. Specifically the postgraduate and doctoral programmes are free of any cost. The ministry of Education of Finland funds the state-universities to maintain a high level of education without the collection of tuition fee, showcasing its quality nonetheless.

The most renowned fields in Finnish Education system are Infrastructure, Design and Communications. University of Helsinki and Abo Akademi University are among the top universities of Finland for international students. The cost of living is affordable and the local Finnish population is accustomed to living among foreigners in peace.

World

TRG Chairman Khaishgi and CEO Aslam implicated in $150 million fraud

Published

1 week ago

June 23, 2025

Jenny Jackson

In a scathing 52-page decision, the Sindh High Court has found that TRG Pakistan’s management was acting fraudulently and that Bermuda-based Greentree Holdings historic and prospective purchase of TRG shares were illegal, fraudulent and oppressive.

The Sindh High Court has further directed TRGP to immediately hold board elections that have been overdue and illegally withheld by the existing board since January 14, 2025.

In the landmark ruling, the Sindh High Court has blocked the attempted takeover of TRG Pakistan Limited by Greentree Holdings, declaring that the shares acquired by Greentree, nearly 30% of TRG’s stock, were unlawfully financed using TRG’s funds in violation of Section 86(2) of the Companies Act 2017.

“Having concluded that the affairs of TRGP are being conducted in an unlawful and fraudulent manner and in a manner oppressive to members such as the Petitioner (Zia Chishti), the case falls for corrective orders under sub-section (2) of section 286 of the Companies Act,” Justice Adnan Iqbal Chaudhry concluded.

The case was brought by TRGP former CEO and founder Pakistani-American technology entrepreneur Zia Chishti against TRG Pakistan, its associate TRG International and TRG International’s wholly-owned shell company Greentree Limited. In addition, the case named AKD Securities for managing Greentree’s illegal tender offer as well as various regulators requiring that they act to perform their regulatory duties.

The case centred around the dispute that shell company Greentree Limited was fraudulently using TRG Pakistan’s own funds to purchase TRG Pakistan’s shares in order to give control to Zia Chishti’s former partners Mohammed Khaishgi, Hasnain Aslam and Pinebridge Investments.

According to the case facts, the Chairman of TRG Pakistan Mohammed Khaishgi and the CEO of TRG Pakistan Hasnain Aslam masterminded the $150 million fraud. They did so together with Hong Kong based fund manager Pinebridge who has two nominees on TRG Pakistan’s board, Mr. John Leone and Mr. Patrick McGinnis.

According to the court papers, Khaishgi, Aslam, Leone, and McGinnis set up a shell company called Greentree which they secretly controlled and from which they started buying up shares of TRG Pakistan. The fraud was that Greentree was using TRG Pakistan’s funds itself. The idea was to give Khaishgi, Aslam, Leone, and McGinnis control over TRG Pakistan even though they owned less than 1% of the company, lawyers of the petitioner told the court.

This was all part of a broader battle for control over TRG Pakistan that is raging between Khaishgi, Aslam, Leone, and McGinnis on one side and TRG Pakistan founder Zia Chishti on the other side. Zia Chishti has been trying to retake control of TRG Pakistan after he was forced to resign in 2021 based on sexual misconduct allegations made by a former employee of his. This year those allegations were shown to be without basis in litigation that Chishti launched in the United Kingdom against The Telegraph newspaper which had printed the allegations. The Telegraph was forced to apologize for 13 separate articles it published about Chishti and paid him damages and legal costs.

After Chishti resigned in 2021, Khaishgi, Aslam, Leone, and McGinnis moved to take total control over TRG Pakistan and its various subsidiaries including TRG International and to block out Chishti. The Sindh High Court’s ruling today has reversed that effort, ruling the scheme fraudulent, illegal, and oppressive.

It now appears that Zia Chishti will take control of TRG Pakistan in short order when elections are called. He and his family are now the largest shareholders with over 30% interest. He is closely followed by companies related to Jahangir Siddiqui & Company which have over a 20% interest. The result appears to be a complete vindication for Zia Chishti and damning for his rivals Aslam, Khaishgi, Leone, and McGinnis who have been ruled to have been conducting a fraud.

TRG Pakistan’s share price declined by over 8% on the news on heavy volume. Market experts say that this was because the tender offer at Rs 75 was gone and that now shares would trade closer to their natural value. Presently the shares are trading at Rs 59 per share.

According to the court ruling, since 2021, shell company Greentree had purchased approximately 30% of TRG shares using $80 million of TRG’s own money, which means that that the directors of TRG Pakistan allowed company assets to be funneled through offshore affiliates TRG International and Greentree for acquiring TRG’s shares – a move deemed both fraudulent and oppressive to minority shareholders. The Sindh High Court also found illegal Greentree’s further attempt to purchase another 35% of TRG shares using another $70 million of TRG’s money in a tender offer.

The ruling is a major victory for the tech entrepreneur Zia Chishti against his former partners and the legal ruling paves the way for him to take control of TRG in a few weeks.