Source: ASEAN
Co-Chaired by Lao PDR and Malaysia, the 17th Meeting of the HLTF-ACV starts today, 29 October 2024, in Hoi An, Viet Nam, with drafting sessions of the APSC Strategic Plan. The ASEAN Community Vision 2045 and the Strategic Plans of the three Community Pillars and ASEAN Connectivity are expected to be adopted in 2025.
The post The 17th Meeting of the High-Level Task Force on ASEAN Community’s Post-2025 Vision (HLTF-ACV) convenes appeared first on ASEAN Main Portal.
Source: ASEAN
The 28th ASEAN Labour Ministers’ Meeting (ALMM) was held on 30 October 2024 in Singapore. The Meeting was chaired by H.E. Dr. Tan See Leng, Minister for Manpower of Singapore, and attended by representatives of ASEAN Member States, Secretary-General of ASEAN and their respective accompanying delegations. The representatives of Timor-Leste attended as observers.As ALMM commemorates its 50th year since the ALMM first met in Jakarta, April 1975, and guided by Singapore’s 28th ALMM Chairmanship theme “Strengthening Resilience and Promoting Innovation,” we exchanged views on fundamental labour issues in the face of the rapidly changing world of work. Technological advancement, digital and green economy, demographic changes, and intensifying labour mobility present challenges and opportunities to the labour markets of ASEAN Member States. We affirmed the remarkable progress of cooperation under the ALMM over the past 50 years and looked forward to sustained regional cooperation to build a resilient and dynamic ASEAN workforce.
Download the full statement here.
The post Joint Communique of the Twenty-Eight ASEAN Labour Ministers Meeting (28th ALMM) appeared first on ASEAN Main Portal.
Source: Government of India
Posted On: 30 OCT 2024 4:30PM by PIB Delhi
Union Minister of State for Environment, Forests and Climate Change, Shri Kirti Vardhan Singh delivered the national statement regarding the conservation of biological resources in the High Level Segment of the ongoing 16th meeting of the Conference of Parties (CoP) to the Convention on Biological Diversity, in Cali, Colombia on 29th October 2024.
Had the privilege of delivering India’s national statement during the plenary session of UNCBD COP16 at Cali, Colombia. India has been at the forefront of taking initiatives, executing programs and fostering collaborations to conserve our rich biodiversity. Mission LiFE,… pic.twitter.com/YNV2Me69nw
— Kirti Vardhan Singh (@KVSinghMPGonda) October 30, 2024
MoS Shri Singh congratulated Ms. Susana Muhamad, Minister of Environment of Colombia on taking over the COP Presidency from the longest serving COP President Mr. Huang Runqiu of China.
Speaking on the occasion, Shri Singh said that India has a rich culture and tradition of worshipping Mother Earth and of living in harmony with Nature. India is one of the world’s 17 Mega-diverse rich Nations housing four out of the 36 globally recognised biodiversity Hotspots. He said, “To honour Mother Earth as we honour our own Mothers, our Prime Minister this year launched a nation-wide tree plantation campaign ‘Ek Ped Maa Ke Naam’ or ‘Plant4Mother’ on the occasion of World Environment Day in our collective efforts to restore and protect our biodiversity.”
The Minister highlighted that ‘Peace with Nature’ has been part of India’s rich cultural heritage since ancient the Vedic age. The theme resonates with India’s mission of ‘Lifestyle for the Environment (LiFE)” an India led Global mass movement for adopting environment friendly lifestyles.
India has taken significant step in global wildlife conservation by establishing the International Big Cat Alliance (IBCA) aimed at protecting the world’s seven major big cat species, as their presence is indicative of a healthy ecosystems and rich biodiversity, Shri Singh informed.
The Minister said that India’s efforts in rejuvenating our sacred river Ganga through ‘Namami Gange’ Mission was duly recognized by United Nations as one of the top 10 World Restoration Flagships to revive the riverine ecosystem. He informed that India’s Ramsar sites has risen from 26 to 85 since 2014 and this number is shortly going to reach 100.
Shri Singh reiterated that India adopted a ‘Whole of Government’ and ‘Whole of Society’ approach while updating the National Biodiversity Strategy and Action Plan (NBSAP) with its targets aligned with the Kunming-Montreal Global Biodiversity Framework (KMGBF). He said that the Ministry would be releasing updated NBSAP on 30.10.2024 at Cali.
The Minister said that it is necessary to provide means of implementation including financial resources, as laid down in target 19 of the KMGBF as well as from DSI, for implementation of the NBSAP. Lot of ground needs to be covered in providing easily accessible means of implementation i.e. financial resources, technology and capacity building needs with the requisite Speed, Scope and Scale.
Shri Singh concluded by re-iterating India’s commitment towards protecting its own as well as global biodiversity for the present and future generations, in the true spirit of ‘Vasudhaiv Kutubakam – One Earth, One Family, One Future’.
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VM/GS
(Release ID: 2069563) Visitor Counter : 33
Source: State Library of NSW
Tonight the State Library celebrated the 50th anniversary of its prestigious research program by unveiling its largest-ever cohort of Fellows, awarding a total of $186,000 across eight categories.
Highlights include the announcement of the inaugural creative writing fellowship, a new Summer Fellows program and two artists-in-residence.
The 2025 Fellows are:
Inaugural IMAGO Fellow – Dr Sheila Ngoc Pham for ‘Fantasia: On Anne Spencer Parry and Australian fantasy and science fiction in the late 20th century’
Australian Religious History Fellow – Dr Zac Roberts for ‘Changing Representations of Indigenous Peoples in the NSW Jewish Press’
CH Currey Memorial Fellow – Dr Dominic Kelly for ‘From Cold War to Culture War: Quadrant and Australian conservatism’
Nancy Keesing AM Fellow – Dr Clara Sitbon for ‘Piecing the Puzzle: Mapping the literary works of Carter Brown’
Dr AM Hertzberg AO Fellow – Dr Luciano Cardellicchio for ‘From Caravans to Schools, from Airplanes to Houses: Plywood innovation in the post-war construction sector of Australia’
Ross Steele AM Fellow – Dr Ruth Pullin for ‘From Sketchbook to Canvas: Eugene von Guérard’s sketchbooks and the making of pictures’
Merewether Fellow – Dr Nicholas Pitt for ‘Benevolent Cattle? A more-than-human history of the Hawkesbury Benevolent Society and the place of benevolence in the colonial project of NSW’
DS Mitchell Memorial Fellow – Dr Shirleene Robinson AM for ‘Mapping the Contribution, Strategies and Networks of Women in Australia’s First LGBTIQ+ Rights Groups, 1969–1974’
The Library also launched its new Summer Fellows Program with support from the Library Foundation. These nine tertiary students and creative practitioners will receive $1,000 each and the opportunity to acquire essential archival research skills for their future careers:
The reinvigorated artist-in-residence program will see Michelle Arnott create a set of images of the Library and its surrounds using synthetic polymer paint, and Sarah Randall will produce a series of still-life paintings based on letters and diaries held within the Library’s collections.
Source: Government of India (2)
Posted On: 30 OCT 2024 3:54PM by PIB Delhi
On the eve of Rashtriya Ekta Diwas (National Unity Day), the Ministry of Civil Aviation came together to celebrate the birth anniversary of Sardar Vallabhbhai Patel, honoring his visionary efforts in unifying the nation. Leading the commemoration, Secretary of the Ministry of Civil Aviation Shri Vumlunmang Vualnam, along with senior officials and ministry staff, gathered at Rajiv Gandhi Bhawan to take a pledge to uphold the values of unity and integrity.
Following the pledge ceremony, a ‘Run for Unity’ was organised, with ministry officials and staff participating enthusiastically. The event symbolized the Ministry’s dedication to national integration and collective progress.
The Ministry of Civil Aviation remains steadfast in its commitment to promote national unity by ensuring that every citizen, regardless of region, culture, or language, has equal access to affordable and efficient air travel across India
PSF/DK
(Release ID: 2069544) Visitor Counter : 57
Source: Government of India (2)
Posted On: 30 OCT 2024 3:51PM by PIB Delhi
The Prime Minister Shri Narendra Modi today quoted GitHub CEO Thomas Dohmke, who lauded India for being the fastest growing developer population on the planet, calling the country’s rise as a global tech titan “inexorable”.
Shri Modi hailed the youth of India for their accomplishments in innovation and technology.
The Prime Minister posted on X:
“When it comes to innovation and technology, Indian youth are among the best!”
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MJPS/RT
(Release ID: 2069539) Visitor Counter : 80
Source: Government of India
Posted On: 30 OCT 2024 3:38PM by PIB Delhi
The Prime Minister Shri Narendra Modi paid tributes to Shri Pasumpon Muthuramalinga Thevar on the occasion of his Guru Pooja today.
Shri Modi hailed his thoughts and teachings, adding that he always worked to to uplift society.
The Prime Minister posted on X:
“Paying homage to the widely respected Pasumpon Muthuramalinga Thevar Ji on the occasion of his Guru Pooja. Countless people derive strength from his thoughts and teachings. He devoted himself to making our society better, with a focus on poverty alleviation, spirituality and welfare of farmers. We will keep working to realise his vision.”
Paying homage to the widely respected Pasumpon Muthuramalinga Thevar Ji on the occasion of his Guru Pooja. Countless people derive strength from his thoughts and teachings. He devoted himself to making our society better, with a focus on poverty alleviation, spirituality and…
— Narendra Modi (@narendramodi) October 30, 2024
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MJPS/RT
(Release ID: 2069528) Visitor Counter : 69
Source: Government of India (2)
Posted On: 30 OCT 2024 3:06PM by PIB Delhi
Drawing inspiration from the Prime Minister Shri Narendra Modi’s National vision to institutionalize Swachhata and enhance workplace efficiency, Department of Personnel & Training (DOPT), along with its Attached/ Sub- ordinate organizations, is actively participating in the main phase of Special Campaign 4.0. This campaign, which commenced on 2nd October and will continue through 31st October 2024, aims to make impactful, focused and significant improvements in Cleanliness and reducing pendency in office matters.
Enthusiastic participation has been witnessed from all the Attached and Subordinate offices functioning under the administrative control of DoPT across the country. Till date, more than 250 cleanliness sites have been covered.
Large scale awareness and Campaign advocacy through Social Media with several Tweets and posts on other platforms like X and Facebook leading to #SpecialCampaign4 has been gaining lot of attraction on Social Media.
During the campaign, focused attention has been accorded for bringing about overall improvement in working environment and improve office experience for the staff.
Records are being reviewed for digitization, preservation and weeding out. Secretary, DOPT visited the Record Room & Store Rooms of the Department and issued instructions for review and weeding out of records/stores in a time bound manner.
Records Management
Since the beginning of the Special Campaign 4.0 on 02nd October, 2024, more than 31,000 physical files and more than 4800 e-files have been reviewed. Approx. 10,000 files have been identified for weeding out, 3500 filed weeded out and 90 files have been sent to National Archives of India. More than 1500 e-files have been closed so far.
Besides the above parameters, overall cleanliness of government offices with special focus on space management and enhancing work place experience of field offices was undertaken. 258 cleanliness campaign were conducted for cleaning of the offices in DoPT along with its Attached and Subordinate offices. The revenue of Rs. 96,516/- was generated by disposal of waste/scrapes. About 1400 Sq ft space has been freed due to scrap disposal and weeding of files.
Disposal of pendency
245 Public Grievances, 12 MP References, 3 IMC References (Cabinet Proposals), 68 State Government References, 2 PMO References, 57 Public Grievance Appeals have been disposed of during this period.
Special Activities / Events during the Special Campaign 4.0
Following activities have also been undertaken by this Department so far during the Special Campaign 4.0 for cleanliness and speedy disposal of the pendency:
The Special Campaign 4.0 is helping to bring about greater degree of awareness to maintain clean office environment and the need for overall environmental protection. Department of Personnel & Training is committed to achieve the targets identified during the preparatory phase.
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NKR/KS/AG
(Release ID: 2069508) Visitor Counter : 60
Source: Government of India (2)
Train carrying another 840 metric tonnes of onion from Nashik to reach Guwahati
Posted On: 30 OCT 2024 2:49PM by PIB Delhi
Today another 840 MT of onions procured by National Agricultural Cooperative Marketing Federation of India (NAFED) under the price stabilization fund of Department of Consumer Affairs has arrived at Kishanganj Railway Station of Delhi for disposal in Delhi-NCR. This is the second bulk transportation of onions by train to Delhi-NCR after NCCF brought 1,600 MT of onions to Kishanganj Station on 20th October, 2024 by Kanda express. Most of the onions will be released in Azadpur Mandi to augment overall availability in the market while part of the stock will go for retail sale at Rs 35 per kg.
The impact of bulk disposal of onion at Azadpur Mandi may be seen at graph given below:
Bulk transportation of onions by rail rake has been adopted, for the first time, for a timely, reliable and cost-effective delivery of onions to various regions. NAFED had earlier transported 840 MT of onions by rail rake from Nashik which arrived at Chennai on 26th October, 2024. Another rail rake from Nashik to Guwahati has left Nashik early this morning with 840 MT of onions procured by NCCF. Bulk shipments by rail augments the continuous transportation of onions by trucks across the country.
The government had procured 4.7 lakh tons of rabi onion for the price stabilization buffer this year, and started the release from 5th September, 2024 through retail sale at Rs 35 per kg and also through bulk sales in major mandis across the country. Till date over 1.40 lakh tonnes of onion in the buffer have been dispatched from Nashik and other source centres to consuming centres through trucks by road transport. As on date, NCCF has covered 104 destinations in 22 States and NAFED covered 52 destinations in 16 States in their onion disposal. The agencies have also partnered with retail chains such as SAFAL, Kendriya Bhandar and Reliance Retail for distribution of onions to retail consumers at Rs 35 per kg. In addition, 86,500 MT of onion has been allotted to 9 States Governments/Cooperative Societies for retail distribution.
Since the start of onion disposal till date, the retail prices of onion have substantially stabilized in major States such as Andhra Pradesh, Maharashtra, Karnataka, UP, Tamil Nadu and Delhi. All-India average retail prices remained largely stable during October. The onion shipment by rail to Guwahati will enhance availability in North-eastern States and is expected have dampening impact on prices in the region and also on the all-India average. Mandi prices in Nashik mandi also declined from the peak of Rs.47 per kg on 24th September and is currently at 40 kg on 29th October, 2024.
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AD/AM
(Release ID: 2069506) Visitor Counter : 74
Source: Government of India
Posted On: 30 OCT 2024 3:24PM by PIB Delhi
The Chief Minister of Rajasthan Bhajan Lal Sharma called on the Prime Minister Shri Narendra Modi today.
The Prime Minister’s Office (PMO) posted on X:
“Chief Minister of Rajasthan, Shri @BhajanlalBjp, met Prime Minister @narendramodi.”
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MJPS/RT
(Release ID: 2069513) Visitor Counter : 63
Source: Government of India
The month long campaign will run across all Indian States and Union Territories until December 23, 2024
The initiative will be led by DAY-NRLM’s Self-Help Group network
Posted On: 30 OCT 2024 2:31PM by PIB Delhi
The Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) under the Ministry of Rural Development convened an inter-ministerial meeting yesterday to outline the strategic roadmap for ‘Nayi Chetna 3.0’ – the third edition of its National Campaign Against Gender-Based Violence.
Chaired by Shri Shailesh Kumar Singh, Secretary, Rural Development, the meeting brought together representatives from seven line ministries to discuss collaboration and action plans to raise awareness and reinforce response mechanisms against gender-based violence nationwide.
Smt. Smriti Sharan, Joint Secretary, Rural Development, commenced the meeting by presenting key findings from previous editions of the Nayi Chetna Campaign emphasizing the need for collaborative efforts, followed by an overview of the goals and structure for Nayi Chetna-3.0.
The month-long campaign will launch on November 25, 2024 and will run across all Indian States and Union Territories until December 23, 2024. The initiative will be led by DAY-NRLM’s Self-Help Group (SHG) network, embodying the spirit of Jan Andolan (people’s movement)
Led by the Ministry of Rural Development, the meeting saw participation from line ministries including the Ministries of Health and Family Welfare, Information and Broadcasting, Women and Child Development, Panchayati Raj, Youth Affairs, Social Justice and Empowerment and the Department of Justice. Discussions focused on fostering convergence to strengthen preventive efforts, improve access to support systems, and leverage each ministry’s expertise to drive the campaign’s objectives. A draft joint advisory delineating each ministry’s role was discussed and reviewed. The discussion threw light on the different forms of violence that could be prioritized and steps that could be taken to address these barriers.
In his remarks, Shri Charanjit Singh, Additional Secretary, Rural Development, commended the suggestions made during the meeting and called for formalizing the advisory to drive the campaign in mission mode.
In his closing remarks, Shri Shailesh Kumar Singh emphasized the necessity for a united approach across ministries to combat gender-based violence, fostering widespread social change.
The Nayi Chetna Campaign seeks to amplify awareness and drive informed action to address gender-based violence through grassroots initiatives. Since its inception, Nayi Chetna has mobilized millions nationwide, creating a substantial movement for gender equality and women’s empowerment. In its first year, the campaign reached 3.5 crore people, supported by multiple line ministries, while the second edition, Nayi Chetna 2.0, involved 5.5 crore participants across 31 States and Union Territories, with over 9 lakh awareness activities on gender-based violence conducted nationwide.
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SS
(Release ID: 2069503) Visitor Counter : 23
Source: Government of India (2)
Posted On: 30 OCT 2024 2:15PM by PIB Delhi
On the occasion of World Stroke Day (29th October 2024), National Institutes and Composite Regional Centres under the Department of Empowerment of Persons with Disabilities (DEPwD) organized various programmes, to raise awareness about the severity of stroke, its prevention, and treatment. This year’s objective is to reduce disability and mortality rates caused by stroke.
According to statistics, stroke is the second leading cause of death globally and the third leading cause of disability. Every year, nearly 1.8 million people are affected by stroke. In light of this critical issue, awareness programs were organized nationwide by DEPwD to address the impact of stroke.
The National Institute for Locomotor Disabilities (NILD) in Kolkata conducted street plays and awareness sessions aimed at educating the public about stroke. In these sessions, experts discussed the symptoms, risks, and preventive measures associated with stroke.
The Composite Regional Center (CRC) in Nellore held an awareness session where they discussed the importance of World Stroke Day, causes of stroke, and its effects. Experts highlighted that timely response and proper treatment can save many lives. Additionally, the CRC provided information on services available for those affected by stroke.
Other CRCs in Kullu, Bolangir, Rajnandgaon, and other locations also organized awareness programmes, focusing on educating people about recognizing early symptoms of stroke and seeking timely medical help.
Through these initiatives, the DEPwD aims to increase awareness about stroke and emphasize that with the right knowledge and vigilance, the risks associated with stroke can be significantly reduced. Through the World Stroke Day programs, the department reaffirms its commitment to making the public more aware of stroke and its implications.
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VM
(Release ID: 2069499) Visitor Counter : 28
Source: Government of India (2)
Posted On: 30 OCT 2024 1:53PM by PIB Delhi
The objective of this campaign is to minimize pendency, institutionalize swachhata, and strengthen internal monitoring mechanisms, digitization of physical records and monitoring mechanisms for swachhata. Sanitization and cleanliness is going on priority basis under Swachhata Campaign 4.0.
On 2nd October, 2024 on the occasion of Mahatma Gandhi Jayanti and Swachh Bharat Diwas a Shramdaan event has been organized in the premises of Shastri Bhawan led by Shri Udaya Kuamara, Additional Secretary, Shri R.K. Pattanayak, Joint Secretary/Nodal Officer, Dr. K.V. Kumar, Joint Secretary and other senior officers and staff including Safai Karmacharis of this Department and attached offices. In addition to that Shri Udaya Kumara, Additiaonal Secretary and Shri R.K. Pattanayak, Joint Secretary/Nodal Officer have also visited all the Sections and corridors/toilets etc. and reviewed the ongoing campaign.
On 3rd October, 2024 Dr. Rajiv Mani, Secretary Legislative Department along with Shri R.K. Pattanayak, JS&LC/Nodal Officer, Smt. Rakhi Biswas, Under Secretary, Shri Prashant Bhardwaj, Section Officer, Shri Sushil Kumar, Dealing Head visited Record Room, Digitization Unit and Sectons to review progress of the Campaign. 57,988 files/office records were digitized and 32 files were reviewed and weeded /shredded.
On 12th October, 2024 Admn. II Section has been renovated and open up space and Cleanliness drive has been undertaken by the Department in corridors and sections. During the Campaign, One of the best practices viz beautification of walls (wall art) in the corridors/premises housed by Legislative Department was carried out.
The internal mechanized cleanliness in workplace on 15th October, 2024, were made such as cleaning activities, dusting, sanitizing surfaces, and proper waste disposal to ensure a hygienic workspace, to identification of unwanted records and article in sections for weeding out, preparing a list of obsolete items for auction under the supervision of Shri R.K. Pattanayak, Nodal Officers/JS&LC in the Legislative Department were also made.
During the Campaign, on 20th October, 2024 the Legislative Department organized a shramdaan event at a black spot i.e. Ghazipur, round about, East Delhi which was identified by the Department for cleanliness drive and to spread the message of cleanliness and hygiene. The event of sharmdaan was led by Dr. Rajiv Mani, Secretary Legislative Department along with other senior officers of the Legislative Department namely Shri Udaya Kumara, Additional Secretary, Shri R.K. Pattanayak, JS&LC/Nodal Officer, Dr. K.V. Kumar, JS&LC and Shri Dhruv Kumar Singh, CCA along with several officers and staff of the Department including attached offices and the Department of Legal Affairs. On the occasion, Secretary (LD) distributed Swachhata Kit/ T-Shirt/ Cap to the Safai Karamchari and emphasized upon the importance of the Campaign, the overall benefit of the society and the nation.
On 22nd October 2024, Legislative Department has successfully completed e-Auction for old and obsolete items in presence of Auction Committee and earned revenue of Rs. 5,01,000/- and cleanliness drive undertaken by the Department under the supervision of Shri R.K Pattanayak, JS&LC/Nodal Officer.
On 26th October, 2024 experts hired by the department for weeded/shredded out of unwanted files/records of the Legislative Department in the supervision of Shri R.K. Pattanayak, JS&LC/Nodal Officer.
On 28th October 2024, circular has been issued to all sections of the Legislative Department including attached offices i.e. Official Language Wing and Vidhi Sahitya Prakashan for providing information reducing pendency of the Department and thereafter all sections have been instructed to dispose of pending matters of Special Campaign 4.0.
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SB/DP/ARJ
(Release ID: 2069494) Visitor Counter : 62
Source: Government of India (2)
NIXI and TCIL sign Strategic Agreement to bolster user trust with SSL Certificates
Posted On: 30 OCT 2024 1:51PM by PIB Delhi
The National Internet Exchange of India (NIXI) today celebrated the grand inauguration of its new office at the World Trade Centre, Nauroji Nagar, New Delhi. The event was presided over by Sh. S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) and Chairman, NIXI along with Shri Bhuvnesh Kumar, Additional Secretary, MeitY, Shri Sushil Pal, Joint Secretary, MeitY, and Shri Rajesh Singh, Joint Secretary and Financial Adviser, MeitY. This event marked a significant step in NIXI’s ongoing efforts to strengthen India’s internet infrastructure and foster digital growth.
As part of the event, Secretary MeitY also unveiled a few of the initiatives undertaken by NIXI, such as a Festive Offer for .in Accredited Registrars, aimed at accelerating the adoption of the .in domain across the users. He mentioned that NIXI has a very important role to play in the field of Internet, not just at national level but also globally. NIXI is ready to make a difference in this field as its role is being redefined right now, he added.
NIXI’s CSR Impact Report for FY 23-24
The ceremony also featured the launch of NIXI’s CSR Impact Report for FY 23-24, highlighting the organization’s achievements in the realm of corporate social responsibility. The report showcased NIXI’s work in promoting digital literacy, expanding internet accessibility, and contributing to community development. It also outlined future goals, reaffirming NIXI’s commitment to supporting India’s digital economy and social empowerment initiatives.
Strategic Agreement with TCIL
The event was also marked by the signing of a strategic agreement with M/s Telecommunications Consultants India Ltd (TCIL) for the implementation of NIXI SSL Certificate Authority (SSL CA). This partnership will enhance internet security across India by providing trusted SSL certification services, ensuring safe online transactions and bolstering user trust.
On this occasion, Dr. Devesh Tyagi, CEO NIXI said that as of now we have booked 41 lakh domains and our next target is to reach 50 lakh which will be a very significant target. We have 77 exchange points across the country which have proven helpful in keeping our data within the country. We are also planning to bring a new scheme to increase these exchange points.
About NIXI
Set up on 19th June 2003, the National Internet Exchange of India (NIXI) is a not-for-profit (Section 8) company under the aegis of the Ministry of Electronics and Information Technology, Government of India. It is tasked with increasing internet penetration and adoption in India by facilitating various infrastructure aspects to enable the internet ecosystem to be managed and used by the masses.
The four services under NIXI include: Internet Exchange Points (IXPs) for building Internet Exchange Points, .IN Registry for building the .in domain digital identity, IRINN for IPv4 and IPv6 addresses adoption, and Data Centre services under NIXI-CSC for data storage services.
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Dharmendra Tewari/Kshitij Singha
(Release ID: 2069493) Visitor Counter : 65
Source: Government of India (2)
Posted On: 30 OCT 2024 1:06PM by PIB Delhi
The Telecom Regulatory Authority of India (TRAI) has today released a Consultation Paper on ‘Framework for Service Authorizations for provision of Broadcasting Services under the Telecommunications Act, 2023’.
The Ministry of Information and Broadcasting (MIB) through a letter dated 25th July 2024, sent a reference to TRAI informing that the Telecommunications Act, 2023 has been published in the Official Gazette of India. Section 3(1)(a) of the Telecommunications Act, 2023, which is yet to be notified, provides for obtaining an authorization by any entity/ person intending to provide telecommunication services, subject to such terms and conditions, including fees or charges, as may be prescribed.
In respect of the broadcasting services, the reference has apprised that many broadcasting platforms (which employ radio waves and spectrum for offering services) viz. DTH, HITS, IPTV, Uplinking/Downlinking of television channels (including teleports), SNG, DSNG, Community Radio, FM Radio etc. are issued license/ permission/ registration by MIB under Section 4 of the Indian Telegraph Act, 1885, which is replaced by the Telecommunications Act, 2023.
The Ministry also shared a background note providing the details of the policy guidelines of various licenses/ permissions/ registrations issued by MIB and the relevant sections of the Telecommunications Act, 2023 that may have a bearing on the terms and conditions of authorizations.
MIB, through the said letter dated 25.07.2024, under Section 11(1)(a) of the TRAI Act, 1997, requested TRAI to provide its recommendations on the terms and conditions, including fees or charges; for authorization to provide broadcasting services, with the objective of aligning it to the Telecommunications Act, 2023 and harmonizing the terms and conditions across various service providers, so that the terms and conditions for the authorizations of broadcasting services may be notified as Rules under the Telecommunications Act, 2023.
Accordingly, a Consultation Paper on ‘Framework for Service Authorizations for provision of Broadcasting Services under the Telecommunications Act, 2023’ has been placed on the TRAI’s website (www.trai.gov.in) for seeking comments/ counter comments from the stakeholders. Written comments on the issues raised in the Consultation Paper are invited from stakeholders by 20th November 2024 and counter-comments by 27th November 2024, respectively.
The comments/ counter-comments may be sent, preferably by email to advbcs-2@trai.gov.in and jtadvisor-bcs@trai.gov.in. For any clarification/ information, Shri Deepak Sharma, Advisor (Broadcasting & Cable Services), TRAI may be contacted at Tel. No. +91-11- 20907774.
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SB/DP/ARJ
(Release ID: 2069479) Visitor Counter : 81
Source: Government of India (2)
Posted On: 30 OCT 2024 1:02PM by PIB Delhi
On the side lines of the 16th Meeting of the Conference of Parties (COP 16) to the UN Convention on Biological Diversity (UNCBD), the Union Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh, led a plantation drive under the framework of ‘Ek Ped Maa Ke Naam (#Plant4Mother)’ Campaign in University of Valle, Cali, Colombia on 29th October 2024. The plantation drive was graced by His Excellency Mr. Vanlalhuma, Ambassador of India to Colombia; Ms. Mónica García Solarte, Vice Rector, University of Valle; and Mr. Guillermo Murillo Vargas, Rector, University of Valle, along with the participation of faculty members and students. A sapling was also planted in the University on the name of mother of Shri Tanmay Kumar, Special Secretary, Ministry of Environment, Forests and Climate Change.
During the plantation drive, the Rector; Vice Rector and Director of International Cooperation of the University of Valle, also planted saplings on the name of their mother.
On the occasion, Shri Kirti Vardhan Singh interacted with the faculty members and students of the University and encouraged them to embrace sustainable practices in their daily lives and emphasized on involvement of youth in environmental conservation. More than 30 students and faculty members enthusiastically participated the plantation drive.
The campaign ‘Ek Ped Maa Ke Naam (#Plant4Mother)’ was launched on Word Environment Day this year, by Prime Minister of India Shri Narendra Modi. It is a unique initiative combining environmental responsibility with a heartfelt tribute to mothers. This campaign was inaugurated with the planting of a Peepal tree by the Prime Minister.
During the launch of this Campaign, Shri Modi emphasized on the involvement of citizens worldwide and importance of collective efforts to improve the environment and spoke of India’s strides in increasing forest cover over the past decade. This campaign aligns with the Nation’s quest for sustainable development.
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VM/GS
(Release ID: 2069475) Visitor Counter : 28
Source: Government of India
Posted On: 30 OCT 2024 12:38PM by PIB Delhi
Scientists tracking a very narrow band of intense electric current in the earth’s ionosphere called Equatorial ElectroJet through ground-based magnetometers in India’s southern tip have developed an empirical model to understand the equatorial electrodynamical processes that can impact satellite orbital dynamics, Global Positioning Systems and other satellite communication links as well as electrical power grids.
Earth’s geomagnetic equator passes very close to the southern tip of India, where a unique and very strong current of the order of 100 kA known as Equatorial ElectroJet (EEJ), flows at around 105-110 km height in the upper atmosphere. Due to this intense current jet, the geomagnetic field near the equator is uniquely enhanced by a few tens to a few hundreds of nano tesla (nT).
Measuring this current intensity through the geomagnetic field enhancement provides an important understanding of the variation of ionospheric electric field. Therefore, understanding and modelling of EEJ variations would have important applications in assessing the satellite orbital dynamics, Global Positioning Systems and other satellite communication links, electrical power grids, etc.
IIG regularly measures this EEJ current using ground-based magnetometers located at an equatorial station Tirunelveli, very close to the southern tip of India.
Understanding the EEJ variations from long-term observations for more than two decades, scientists from Indian Institute of Geomagnetism (IIG) Navi Mumbai, an autonomous institute of Department of Science and Technology, have developed an empirical model that can predict the EEJ current very accurately. The research has been published in the journal Space Weather.
This model, named “Indian Equatorial Electrojet (IEEJ) Model” is the first empirical model that can accurately predict the Equatorial Electrojet over the Indian sector and has been made publicly available. The model’s web interface facilitates the user to simulate the EEJ for any given date and solar activity conditions; and enables to obtain output in ASCII and/or PNG graphical formats.
The model can be used to understand the unique equatorial ionospheric processes and can have applications in GNSS-based navigation/positioning, transmission lines, and the oil/gas industry that uses long-distance pipelines.
The web-portal for the Indian Equatorial Electrojet Model (IIGM), https://iigm.res.in/system/files/IEEJ_model.html
***
NKR/KS/AG
(Release ID: 2069472) Visitor Counter : 62
Source: Government of India (2)
Posted On: 29 OCT 2024 7:00PM by PIB Delhi
Naval Headquarters conducted Rajbhasha Prize Distribution Ceremony – 2024 on 24 October 2024 at NCS Delhi auditorium, Chanakya Bagh. V Adm Vineet McCarty, Controller Personnel Services graced the occasion as Chief Guest and gave away prizes to the winners. This ceremony marks the culmination of Hindi Fortnight activities which were held from 18 – 30 Sep 24 this year. Over 200 personnel from different directorates attended the event which saw presentation of 60 awards in different categories. Renowned poet Rear Admiral Khurram Shehzad Noor (Retd) participated in the event as Guest of Honour and enthralled the audience with his poems. The coveted Rajbhasha Rolling Trophies were awarded to the Directorate of Naval Design (Submarine Design Group), Directorate of Logistics Support and Directorate of Aircraft Acquisition and for doing maximum work
Source: Government of India
Posted On: 30 OCT 2024 12:37PM by PIB Delhi
A novel ink with enhanced security features developed with luminescent nanomaterials can help stop counterfeiting in currency, certificates, branded goods and medicines.
Counterfeiting is a growing problem worldwide and researchers are trying to find unique ways to prevent it. Luminescent properties of rare earth ions and the characteristic emissions of bismuth have long been known.
Scientists at the Institute of Nano Science and Technology (INST), an autonomous institute of Department of Science and Technology, have used this property of rare earth materials, to synthesis a first of its kind security ink based on luminescent nanomaterials with rare earth doping, enabling excitation dependent luminescence (Under both UV and NIR light it gives Visible emission).
The ink can overcome the limitations of current covert tags, which are security features usually visible only under UV light and can be easily duplicated.
The new ink offers enhanced security features through its ability to display different colours under various light wavelengths. Specifically, the ink appears vibrant blue under 365 nm light, pink under 395 nm light, and orange-red under 980 nm near-infrared (NIR) light and remains effective under a range of light, temperature, and humidity conditions.
The luminescent nanomaterial was synthesised using a simple co-precipitation method at 120°C. After synthesis, the nanomaterials were dispersed into commercially available PVC ink using sonication (process of dispersing nanoparticles into solvent by applying sound energy).
This mixture was then used to create patterns and letters through a screen-printing technique. These printed patterns, when exposed to different wavelengths of light, clearly showed the desired colour changes, proving the effectiveness of the ink.
By combining rare earth ions with well-known luminescent properties and bismuth with characteristic emissions the team was able to enhance the encryption and decryption capabilities of the ink, improving its security potential.
The luminescent ink made from these nanomaterials has significant potential to combat counterfeiting. It can be applied to fake-proof various items, including currency, certificates, medicines, and branded products. This allows both consumers and manufacturers to easily verify the authenticity of their items, providing a simple yet powerful tool to detect counterfeits.
***
NKR/KS/AG
(Release ID: 2069470) Visitor Counter : 55
Source: Government of India (2)
Posted On: 30 OCT 2024 10:50AM by PIB Delhi
On the eve of Rashtriya Ekta Diwas (National Unity Day), Union Health Minister Shri Jagat Prakash Nadda, led a gathering of officials and staff from the Union Health Ministry in a pledge to strengthen the unity and integrity of India, here in Nirman Bhawan today. Shri Prataprao Jadhav, Union MoS for Health and Family Welfare and Smt. Punya Salila Srivastava, Union Health Secretary were also present. The event aimed to honour the legacy of Sardar Vallabhbhai Patel, whose vision and leadership played a pivotal role in unifying the nation.
During the ceremony, the Union Health Minister emphasized the importance of national unity in fostering a cohesive and progressive society. He stated, “Today, we reaffirm our commitment to the principles of unity and integrity that Sardar Patel championed. It is our collective responsibility to ensure that our actions and policies reflect the spirit of inclusiveness and diversity that makes India unique.”
The event included a reading of the pledge, where all participants vowed to work towards strengthening the bonds of unity among the diverse cultures, languages, and traditions of India.
The Union Health Ministry remains committed to its mission of improving public health and ensuring that the principles of unity and equality are upheld in all its initiatives.
***
MV
HFW/ HFM Unity Pledge /30th October 2024/1
(Release ID: 2069446) Visitor Counter : 60
Source: US State of Hawaii
Posted on Oct 29, 2024 in Latest Department News, Newsroom
DEPARTMENT OF LAND AND NATURAL RESOURCES
JOSH GREEN, M.D.
GOVERNOR
DAWN CHANG
CHAIRPERSON
NEWS RELEASE
FOR IMMEDIATE RELEASE
October 29, 2024
STATEWIDE CELEBRATIONS FOR ARBOR DAY THIS WEEKEND
(HONOLULU) – Arbor Day in Hawaiʻi is Nov. 2, a day to honor and celebrate trees where we live, work, learn and play. Communities across the state are hosting a variety of tree-focused events this Saturday with tree giveaways, educational booths, and volunteer tree plantings.
Kaulunani, the urban and community forestry program of the DLNR Division of Forestry and Wildlife (DOFAW), supports various Arbor Day events annually. This year promises a range of opportunities for participants to connect with trees, from learning about those that provide food to native trees that thrive in Hawaiʻi and support unique ecosystems.
In South Kona on Hawaiʻi Island, the Hawaiʻi ʻUlu Cooperative and Amy Greenwell Ethnobotanical Garden are partnering to host an Arbor Day celebration that focuses on food security and building community. The event will take place at the Greenwell Garden on Nov. 2, from 9 a.m. to 2 p.m. and feature a native plant sale, food trucks, hula, music, keiki activities, garden tours and more.
“Growing ʻulu enhances community wellbeing and culture by providing connection to place, local history and nourishment,” said Dana Shapiro, co-founder and CEO of the Hawaiʻi ʻUlu Cooperative. “The West Hawaiʻi community historically supported Kaluʻulu, one of the largest ʻulu agroforests of Hawaiʻi, and we want to educate residents about this historic region and its past agricultural abundance.”
Community members are encouraged to bring family and friends. At many events, local experts will be on hand to share their experience and insights.
“We invite all residents to come together to plant trees and grow our shared community forests in Hawaiʻi,” said Dr. Heather McMillen, DOFAW urban and community forester. “Every tree we plant and care for contributes to the health of our islands and creates a hopeful future for our keiki.”
Events across the state on Nov. 2 include:
For additional information and to find an event near you, visit Kaulunani.org to view a list of celebrations by island and location.
# # #
RESOURCES
(All images/video courtesy: DLNR)
Photographs – Arbor Day 2024 (various):
https://www.dropbox.com/scl/fo/j6cpflo99mbbkpdg5bbjq/AFT3-aUA1hqYhhK8gLYkZJ4?rlkey=2qbl9bg9dgogrb6cep6nc5zsw&st=cyiggymo&dl=0
Arbor Day Hawaiʻi Kaulunani Website: https://dlnr.hawaii.gov/forestry/lap/kaulunani/arbor-day-in-hawaii/
Benefits of Trees: https://dlnr.hawaii.gov/forestry/lap/kaulunani/why-trees/ https://vibrantcitieslab.com/
Sign up to receive an ʻulu tree at the South Kona Arbor Day event: https://docs.google.com/forms/d/e/1FAIpQLSdvYOWhL7zuaG6SQcUD8jwJE0stErcU2AQXKlp_vIw_rGLOfA/viewform?usp=sf_link
Media Contact:
Ryan Aguilar
Communications Specialist
Hawaiʻi Dept. of Land and Natural Resources
808-587-0396
[email protected]
Source: US State of Hawaii
Posted on Oct 29, 2024 in Latest Department News, Newsroom
DEPARTMENT OF LAND AND NATURAL RESOURCES
JOSH GREEN, M.D.
GOVERNOR
DAWN CHANG
CHAIRPERSON
NEWS RELEASE
FOR IMMEDIATE RELEASE
October 29, 2024
COMMUNITY CLIMATE FAIR COMING TO KAUAʻI NOV. 2
(LĪHUʻE) – Kauaʻi residents are encouraged to attend the Community Climate Fair on Saturday, Nov. 2, from 11 a.m. to 2 p.m. at Kukui Grove Shopping Center in Līhuʻe. The Hawaiʻi State Climate Change Mitigation and Adaptation Commission (CCMAC) and several partners are hosting the free, family friendly event that’s a first for the island.
Interactive booths will display the many ways the state, counties and community organizations are working to address climate change across Hawaiʻi.
The fair will provide networking opportunities for participation at future beach cleanups, native reforestation efforts, and other volunteer initiatives. Attendees can become champions for the environment by giving feedback on the state’s Climate Action Pathways (CAP) planning process and take part in prize drawings.
“It is important to incorporate the voices of all communities in the co-development of our CAP, so we’re excited to bring the fair to Kauaʻi.” said Leah Laramee, CCMAC coordinator. “We look forward to talking and sharing ideas with all attendees!”
# # #
RESOURCES
Photographs – see attached
For more information, please contact Bill Unruh, Climate Outreach Leader at: [email protected]
Media Contact:
Ryan Aguilar
Communications Specialist
Hawaiʻi Dept. of Land and Natural Resources
808-587-0396
[email protected]
Source: GlobeNewswire (MIL-OSI)
CHICAGO and MILWAUKEE and NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.
| ETF Ticker1 | ETF Name | Reference Asset | Distribution per Share |
Distribution Frequency | Distribution Rate2,4,5 | 30-Day SEC Yield3 |
Ex-Date & Record Date |
Payment Date | |
| YMAX | YieldMax™ Universe Fund of Option Income ETFs | Multiple | $0.2247 | Weekly | 66.23% | 50.85% | 10/31/24 | 11/1/2024 | |
| YMAG | YieldMax™ Magnificent 7 Fund of Option Income ETFs | Multiple | $0.1528 | Weekly | 41.16% | 62.93% | 10/31/24 | 11/1/2024 | |
| TSLY | YieldMax™ TSLA Option Income Strategy ETF | TSLA | $0.5986 | Every 4 Weeks |
60.58% | 3.09% | 10/31/24 | 11/1/2024 | |
| CRSH | YieldMax™ Short TSLA Option Income Strategy ETF | TSLA | $0.4489 | Every 4 Weeks |
51.38% | 3.61% | 10/31/24 | 11/1/2024 | |
| GOOY | YieldMax™ GOOGL Option Income Strategy ETF | GOOGL | $0.3771 | Every 4 Weeks |
31.69% | 3.28% | 10/31/24 | 11/1/2024 | |
| YBIT | YieldMax™ Bitcoin Option Income Strategy ETF | Bitcoin ETP | $0.6717 | Every 4 Weeks |
65.28% | 4.07% | 10/31/24 | 11/1/2024 | |
| OARK | YieldMax™ Innovation Option Income Strategy ETF | ARKK | $0.2818 | Every 4 Weeks |
35.18% | 3.37% | 10/31/24 | 11/1/2024 | |
| XOMO | YieldMax™ XOM Option Income Strategy ETF | XOM | $0.3373 | Every 4 Weeks |
26.26% | 3.32% | 10/31/24 | 11/1/2024 | |
| SNOY | YieldMax™ SNOW Option Income Strategy ETF | SNOW | $0.5589 | Every 4 Weeks |
43.15% | 3.44% | 10/31/24 | 11/1/2024 | |
| TSMY | YieldMax™ TSM Option Income Strategy ETF | TSM | $0.8897 | Every 4 Weeks |
54.47% | 3.48% | 10/31/24 | 11/1/2024 | |
| Scheduled for next week: YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY | |||||||||
The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.
Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.
Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.
Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).
1 All YieldMax™ ETFs shown in the table above (except YMAX and YMAG) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs.
2 The Distribution Rate shown is as of close on October 29, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30, 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
5 YieldMax™ ETF distributions may contain return of capital, but an estimate cannot be provided at this time. Please refer to the 19a-1 notices here for additional details regarding the distributions’ composition, once available.
Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.
Standardized Performance
For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here.
Prospectuses
Click here.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.
There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.
Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.
THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.
Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)
YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.
Investing involves risk. Principal loss is possible.
Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Risk Disclosures (applicable only to BABO and TSMY)
Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.
Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.
Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.
Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.
Risk Disclosures (applicable only to GDXY)
Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.
Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.
The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.
Risk Disclosures (applicable only to YBIT)
YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.
Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.
Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.
Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.
Risk Disclosures (applicable only to the Short ETFs)
Investing involves risk. Principal loss is possible.
Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.
Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.
Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Risk Disclosures (applicable only to YQQQ)
Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.
Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.
Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.
YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.
© 2024 YieldMax™ ETFs
Source: GlobeNewswire (MIL-OSI)
FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announces expectations for preliminary unaudited revenue and total shipments for the third quarter of 2024. Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (“ACM Shanghai”), to the Shanghai Stock Exchange website [link to China Disclosure].
ACM will discuss its full financial results for the third quarter 2024 and its revenue outlook for the remainder of the year on its earnings call on Thursday, November 7, 2024, at 8 a.m. Eastern Time (9 p.m. China Time).
ACM announces the following:
Actual unaudited third quarter 2024 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm.
ACM currently owns an 82.0% equity interest in ACM Shanghai, and a substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, and those results will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing, vertical furnace processes, Track and PECVD, which are critical to advanced semiconductor device manufacturing and wafer-level packaging. ACM is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmrcsh.com.
Forward-Looking Statements
Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.
| For investor and media inquiries, please contact: | |
| In the United States: | The Blueshirt Group |
| Steven C. Pelayo, CFA | |
| +1 (360) 808-5154 | |
| steven@blueshirtgroup.co | |
| In China: | The Blueshirt Group Asia |
| Gary Dvorchak, CFA | |
| +86 (138) 1079-1480 | |
| gary@blueshirtgroup.co | |
Source: GlobeNewswire (MIL-OSI)
Dayforce® recurring revenue of $333.2 million, up 19%
Total revenue of $440.0 million, up 17%
Year-to-date net cash provided by operating activities of $200.1 million, up 54%
MINNEAPOLIS and TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Dayforce, Inc. (“Dayforce” or the “Company”) (NYSE:DAY) (TSX:DAY), a global leader in human capital management (“HCM”) technology, today announced its financial results for the third quarter ended September 30, 2024.
“Our dedicated team achieved excellent results in the third quarter, positioning us to finish 2024 with strength,” said David Ossip, Chair and CEO of Dayforce. “Dayforce recurring revenue grew 19% year-over-year, and year-to-date cash flows from operating activities were up 54%, underscoring our ability to both grow and generate profits at scale. We continue to see organizations across the globe realize greater value as they simplify their people operations with the all-in-one Dayforce platform.”
“In the third quarter, we repurchased approximately $30 million worth of shares under our $500 million share repurchase program that we launched last quarter highlighting our progress in enhancing our overall profit profile and the flexibility of our cash-generative business model,” said Jeremy Johnson, CFO of Dayforce. “Looking forward, we are excited to meet many of our investors in-person at our inaugural Investor Day alongside our Dayforce Discover conference in Las Vegas where we will outline our strategy for future growth.”
Financial Highlights for the Third Quarter 20241
Supplemental Detail
1 The financial highlights are on a year-over-year basis, unless otherwise stated. All financial results are reported in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S. (“GAAP”), unless otherwise stated.
2 Excluding Ascender, ADAM HCM, and eloomi.
3 Excluding float revenue, Ascender, ADAM HCM, and eloomi revenue, and on a constant currency basis. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis.
Business Highlights
Sales Highlights
New Customer Highlights
Product Roadmap Highlights
In the third quarter, Dayforce launched new product capabilities to help Dayforce customers realize quantifiable value through enriched workforce engagement, enhanced analytics, and improved employee financial wellness, and to update their compliance capabilities.
Business Outlook
Based on information available as of October 30, 2024, Dayforce is issuing the following guidance for the fourth quarter and full year of 2024 as indicated below. Comparisons are on a year-over-year basis, unless stated otherwise.
| Guided Metrics | Full Year 2024 | Fourth Quarter 2024 | ||
| Total revenue | $1,747 million to $1,752 million, an increase of 15% to 16% on a GAAP basis or 16% on a constant currency basis. | $452 million to $457 million, an increase of 13% to 14% on a GAAP basis or 13% to 15% on a constant currency basis. | ||
| Dayforce recurring revenue, excluding float | $1,163 million to $1,168 million, an increase of 21% on a GAAP and on a constant currency basis. | $311 million to $316 million, an increase of 21% to 23% on a GAAP and on a constant currency basis. | ||
| Float revenue | $192 million | $37 million | ||
| Adjusted EBITDA | $492 million to $507 million | $120 million to $135 million |
Dayforce is also providing an initial outlook for full year 2025 as follows:
Dayforce has not reconciled the Adjusted EBITDA ranges, Adjusted EBITDA margin, or free cash flow for the fourth quarter or full years of 2024 or 2025 to the directly comparable GAAP financial measures because applicable information for the future period, on which these reconciliations would be based, is not available without unreasonable efforts due to uncertainty regarding, and the potential variability of, depreciation and amortization, share-based compensation expense and related employer taxes, changes in foreign currency exchange rates, and other items.
Foreign Exchange
For the fourth quarter of 2024, Dayforce’s guidance assumes an average U.S. dollar to Canadian dollar foreign exchange rate of $1.38, which results in an average rate of $1.37 for the full year of 2024, compared to an average rate of $1.36 and $1.35 for the fourth quarter and full year of 2023, respectively.
Conference Call Details
Dayforce will host a live webcast and conference call to discuss the third quarter 2024 earnings at 8:00 a.m. Eastern Time on October 30, 2024. Those wishing to participate via the webcast should access the call through the Investor Relations section of the Dayforce website. Those wishing to participate via the telephone may dial in at 877-497-9071 (USA) or 201-689-8727 (International). The webcast replay will be available through the Investor Relations section of the Dayforce website.
About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, Pay, Time, Talent, and Analytics equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give Dayforce’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance, and business. Users can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements in this press release include statements relating to the fourth quarter and full fiscal years of 2024 and 2025, as well as those relating to future growth initiatives. These statements may include words such as “anticipate,” “estimate,” “expect,” “assume”, “project,” “seek,” “plan,” “intend,” “believe,” “will,” “may,” “could,” “continue,” “likely,” “should,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on assumptions that Dayforce has made in light of its industry experience and its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. As users consider this press release, it should be understood that these statements are not guarantees of performance or results. These assumptions and Dayforce’s future performance or results involve risks and uncertainties (many of which are beyond its control). In particular:
Although Dayforce has attempted to identify important risk factors, additional factors or events that could cause Dayforce’s actual performance to differ from these forward-looking statements may emerge from time to time, and it is not possible for Dayforce to predict all of them. Should one or more of these risks or uncertainties materialize, or should any of Dayforce’s assumptions prove incorrect, its actual financial condition, results of operations, future performance, and business may vary in material respects from the performance projected in these forward-looking statements. In addition to any factors and assumptions set forth above in this press release, the material factors and assumptions used to develop the forward-looking information include, but are not limited to: the general economy remains stable; the competitive environment in the HCM market remains stable; the demand environment for HCM solutions remains stable; Dayforce’s implementation capabilities and cycle times remain stable; foreign exchange rates, both current and those used in developing forward-looking statements, specifically U.S. dollar to Canadian dollar, remain stable at, or near, current rates; Dayforce will be able to maintain its relationships with its employees, customers, and partners; Dayforce will continue to attract qualified personnel to support its development requirements and the support of its new and existing customers; and that the risk factors noted above, individually or collectively, do not have a material impact on Dayforce. Any forward-looking statement made by Dayforce in this press release speaks only as of the date on which it is made. Dayforce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
| Dayforce, Inc. Condensed Consolidated Balance Sheets (Unaudited) |
||||||||
| September 30, | December 31, | |||||||
| 2024 | 2023 | |||||||
| (In millions, except per share data) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and equivalents | $ | 494.1 | $ | 570.3 | ||||
| Restricted cash | — | 0.8 | ||||||
| Trade and other receivables, net | 255.8 | 228.8 | ||||||
| Prepaid expenses and other current assets | 153.3 | 126.7 | ||||||
| Total current assets before customer funds | 903.2 | 926.6 | ||||||
| Customer funds | 4,000.7 | 5,028.6 | ||||||
| Total current assets | 4,903.9 | 5,955.2 | ||||||
| Right of use lease assets, net | 14.7 | 19.1 | ||||||
| Property, plant, and equipment, net | 228.3 | 210.1 | ||||||
| Goodwill | 2,394.5 | 2,293.9 | ||||||
| Other intangible assets, net | 228.3 | 230.2 | ||||||
| Deferred sales commissions | 215.6 | 192.1 | ||||||
| Other assets | 131.7 | 110.3 | ||||||
| Total assets | $ | 8,117.0 | $ | 9,010.9 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Current portion of long-term debt | $ | 7.3 | $ | 7.6 | ||||
| Current portion of long-term lease liabilities | 6.0 | 7.0 | ||||||
| Accounts payable | 73.1 | 66.7 | ||||||
| Deferred revenue | 42.7 | 40.2 | ||||||
| Employee compensation and benefits | 77.9 | 92.9 | ||||||
| Other accrued expenses | 66.3 | 30.4 | ||||||
| Total current liabilities before customer funds obligations | 273.3 | 244.8 | ||||||
| Customer funds obligations | 4,004.6 | 5,090.1 | ||||||
| Total current liabilities | 4,277.9 | 5,334.9 | ||||||
| Long-term debt, less current portion | 1,209.9 | 1,210.1 | ||||||
| Employee benefit plans | 25.0 | 27.7 | ||||||
| Long-term lease liabilities, less current portion | 14.0 | 18.9 | ||||||
| Other liabilities | 34.2 | 21.1 | ||||||
| Total liabilities | 5,561.0 | 6,612.7 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Common stock, $0.01 par, 500.0 shares authorized, 157.8 and 156.3 shares issued and outstanding, respectively | 1.6 | 1.6 | ||||||
| Additional paid in capital | 3,291.5 | 3,151.1 | ||||||
| Accumulated deficit | (340.5 | ) | (317.8 | ) | ||||
| Accumulated other comprehensive loss | (396.6 | ) | (436.7 | ) | ||||
| Total stockholders’ equity | 2,556.0 | 2,398.2 | ||||||
| Total liabilities and stockholders’ equity | $ | 8,117.0 | $ | 9,010.9 | ||||
| Dayforce, Inc. Condensed Consolidated Statements of Operations (Unaudited) |
||||||||||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (In millions, except per share data) | ||||||||||||||||
| Revenue: | ||||||||||||||||
| Recurring | $ | 375.9 | $ | 325.4 | $ | 1,123.6 | $ | 958.2 | ||||||||
| Professional services and other | 64.1 | 52.1 | 171.2 | 155.8 | ||||||||||||
| Total revenue | 440.0 | 377.5 | 1,294.8 | 1,114.0 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Recurring | 87.4 | 80.5 | 265.1 | 239.4 | ||||||||||||
| Professional services and other | 75.1 | 66.1 | 210.8 | 197.0 | ||||||||||||
| Product development and management | 55.4 | 53.3 | 166.8 | 153.5 | ||||||||||||
| Depreciation and amortization | 20.8 | 17.1 | 58.6 | 47.4 | ||||||||||||
| Total cost of revenue | 238.7 | 217.0 | 701.3 | 637.3 | ||||||||||||
| Gross profit | 201.3 | 160.5 | 593.5 | 476.7 | ||||||||||||
| Selling and marketing | 86.4 | 61.8 | 248.5 | 177.5 | ||||||||||||
| General and administrative | 94.1 | 72.2 | 269.4 | 204.9 | ||||||||||||
| Operating profit | 20.8 | 26.5 | 75.6 | 94.3 | ||||||||||||
| Interest expense, net | 8.8 | 8.9 | 33.2 | 27.2 | ||||||||||||
| Other (income) expense, net | (6.3 | ) | 5.1 | 5.7 | 6.6 | |||||||||||
| Income before income taxes | 18.3 | 12.5 | 36.7 | 60.5 | ||||||||||||
| Income tax expense | 16.3 | 16.3 | 29.4 | 51.3 | ||||||||||||
| Net income (loss) | $ | 2.0 | $ | (3.8 | ) | $ | 7.3 | $ | 9.2 | |||||||
| Net income (loss) per share: | ||||||||||||||||
| Basic | $ | 0.01 | $ | (0.02 | ) | $ | 0.05 | $ | 0.06 | |||||||
| Diluted | $ | 0.01 | $ | (0.02 | ) | $ | 0.05 | $ | 0.06 | |||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic | 158.1 | 155.7 | 157.6 | 155.0 | ||||||||||||
| Diluted | 159.7 | 155.7 | 159.9 | 158.2 | ||||||||||||
| Dayforce, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) |
||||||||
| Nine Months Ended September 30, |
||||||||
| 2024 | 2023 | |||||||
| (In millions) | ||||||||
| Cash flows from operating activities | ||||||||
| Net income | $ | 7.3 | $ | 9.2 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Deferred income tax (benefit) expense | (27.5 | ) | 13.9 | |||||
| Depreciation and amortization | 151.5 | 84.1 | ||||||
| Amortization of debt issuance costs and debt discount | 3.2 | 3.3 | ||||||
| Loss on debt extinguishment | 4.3 | — | ||||||
| Provision for doubtful accounts | 4.7 | 4.2 | ||||||
| Net periodic pension and postretirement cost | 7.6 | 0.9 | ||||||
| Share-based compensation expense | 118.4 | 118.0 | ||||||
| Change in fair value of contingent consideration | 9.0 | 11.8 | ||||||
| Other | (1.2 | ) | 0.3 | |||||
| Changes in operating assets and liabilities, excluding effects of acquisitions: | ||||||||
| Trade and other receivables | (26.2 | ) | (62.0 | ) | ||||
| Prepaid expenses and other current assets | (4.5 | ) | (20.1 | ) | ||||
| Deferred sales commissions | (22.9 | ) | (25.9 | ) | ||||
| Accounts payable and other accrued expenses | 5.9 | 8.5 | ||||||
| Deferred revenue | (6.5 | ) | 7.5 | |||||
| Employee compensation and benefits | (16.1 | ) | (23.2 | ) | ||||
| Accrued taxes | 22.5 | 11.0 | ||||||
| Payment of contingent consideration | (20.9 | ) | — | |||||
| Other assets and liabilities | (8.5 | ) | (11.9 | ) | ||||
| Net cash provided by operating activities | 200.1 | 129.6 | ||||||
| Cash flows from investing activities | ||||||||
| Purchases of customer funds marketable securities | (483.2 | ) | (252.0 | ) | ||||
| Proceeds from sale and maturity of customer funds marketable securities | 283.4 | 326.4 | ||||||
| Purchases of marketable securities | (10.0 | ) | — | |||||
| Proceeds from sale and maturity of marketable securities | 7.6 | — | ||||||
| Expenditures for property, plant, and equipment | (8.7 | ) | (15.4 | ) | ||||
| Expenditures for software and technology | (74.1 | ) | (72.9 | ) | ||||
| Acquisition costs, net of cash acquired | (173.1 | ) | — | |||||
| Other | — | (1.0 | ) | |||||
| Net cash used in investing activities | (458.1 | ) | (14.9 | ) | ||||
| Cash flows from financing activities | ||||||||
| (Decrease) increase in customer funds obligations, net | (1,049.9 | ) | 311.0 | |||||
| Proceeds from issuance of common stock under share-based compensation plans | 22.0 | 40.3 | ||||||
| Repurchases of common stock | (28.8 | ) | — | |||||
| Proceeds from debt issuance | 650.0 | — | ||||||
| Repayment of long-term debt obligations | (646.5 | ) | (6.0 | ) | ||||
| Payment of debt refinancing costs | (11.4 | ) | — | |||||
| Payment of contingent consideration | (3.0 | ) | — | |||||
| Net cash (used in) provided by financing activities | (1,067.6 | ) | 345.3 | |||||
| Effect of exchange rate changes on cash, restricted cash, and equivalents | (18.2 | ) | 5.1 | |||||
| Net (decrease) increase in cash, restricted cash, and equivalents | (1,343.8 | ) | 465.1 | |||||
| Cash, restricted cash, and equivalents at beginning of period | 3,421.4 | 3,151.2 | ||||||
| Cash, restricted cash, and equivalents at end of period | $ | 2,077.6 | $ | 3,616.3 | ||||
| Reconciliation of cash, restricted cash, and equivalents to the condensed consolidated balance sheets | ||||||||
| Cash and equivalents | $ | 494.1 | $ | 510.3 | ||||
| Restricted cash | — | 0.8 | ||||||
| Restricted cash and equivalents included in customer funds | 1,583.5 | 3,105.2 | ||||||
| Total cash, restricted cash, and equivalents | $ | 2,077.6 | $ | 3,616.3 | ||||
| Dayforce, Inc. Revenue Financial Measures (Unaudited) |
||||||||||||||||||||
| Three Months Ended September 30, | Percentage change in revenue | Impact of changes in foreign currency (a) |
Percentage change in revenue on a constant currency basis (a) | |||||||||||||||||
| 2024 | 2023 | 2024 vs. 2023 | 2024 vs. 2023 | |||||||||||||||||
| (In millions) | ||||||||||||||||||||
| Revenue: | ||||||||||||||||||||
| Recurring revenue: | ||||||||||||||||||||
| Dayforce recurring, excluding float | $ | 292.0 | $ | 245.6 | 18.9 | % | (0.1 | )% | 19.0 | % | ||||||||||
| Dayforce float | 41.2 | 34.0 | 21.2 | % | (0.3 | )% | 21.5 | % | ||||||||||||
| Total Dayforce recurring | 333.2 | 279.6 | 19.2 | % | (0.1 | )% | 19.3 | % | ||||||||||||
| Powerpay recurring, excluding float | 20.2 | 19.6 | 3.1 | % | (2.0 | )% | 5.1 | % | ||||||||||||
| Powerpay float | 4.2 | 4.4 | (4.5 | )% | (2.2 | )% | (2.3 | )% | ||||||||||||
| Total Powerpay recurring | 24.4 | 24.0 | 1.7 | % | (2.0 | )% | 3.7 | % | ||||||||||||
| Total Cloud recurring | 357.6 | 303.6 | 17.8 | % | (0.3 | )% | 18.1 | % | ||||||||||||
| Other recurring (b) | 18.3 | 21.8 | (16.1 | )% | 0.9 | % | (17.0 | )% | ||||||||||||
| Total recurring revenue | 375.9 | 325.4 | 15.5 | % | (0.2 | )% | 15.7 | % | ||||||||||||
| Professional services and other (c) | 64.1 | 52.1 | 23.0 | % | (— | )% | 23.0 | % | ||||||||||||
| Total revenue | $ | 440.0 | $ | 377.5 | 16.6 | % | (0.1 | )% | 16.7 | % | ||||||||||
| a) | Dayforce has calculated percentage change in revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis. |
| b) | Float attributable to Other recurring was $0.2 million and $0.4 million for the three months ended September 30, 2024, and 2023, respectively. |
| c) | For the three months ended September 30, 2024, Professional services and other consisted of $61.8 million and $2.3 million associated with Dayforce and Other, respectively. For the three months ended September 30, 2023, Professional services and other consisted of $48.2 million, $3.8 million, and $0.1 million associated with Dayforce, Other, and Powerpay, respectively. |
| Nine Months Ended September 30, | Percentage change in revenue | Impact of changes in foreign currency (a) |
Percentage change in revenue on a constant currency basis (a) | |||||||||||||||||
| 2024 | 2023 | 2024 vs. 2023 | 2024 vs. 2023 | |||||||||||||||||
| (In millions) | ||||||||||||||||||||
| Revenue: | ||||||||||||||||||||
| Recurring revenue: | ||||||||||||||||||||
| Dayforce recurring, excluding float | $ | 852.1 | $ | 706.5 | 20.6 | % | (0.2 | )% | 20.8 | % | ||||||||||
| Dayforce float | 139.9 | 112.5 | 24.4 | % | (0.2 | )% | 24.6 | % | ||||||||||||
| Total Dayforce recurring | 992.0 | 819.0 | 21.1 | % | (0.2 | )% | 21.3 | % | ||||||||||||
| Powerpay recurring, excluding float | 60.6 | 58.8 | 3.1 | % | (1.2 | )% | 4.3 | % | ||||||||||||
| Powerpay float | 14.4 | 13.4 | 7.5 | % | (0.7 | )% | 8.2 | % | ||||||||||||
| Total Powerpay recurring | 75.0 | 72.2 | 3.9 | % | (1.1 | )% | 5.0 | % | ||||||||||||
| Total Cloud recurring | 1,067.0 | 891.2 | 19.7 | % | (0.3 | )% | 20.0 | % | ||||||||||||
| Other recurring (b) | 56.6 | 67.0 | (15.5 | )% | (1.0 | )% | (14.5 | )% | ||||||||||||
| Total recurring revenue | 1,123.6 | 958.2 | 17.3 | % | (0.3 | )% | 17.6 | % | ||||||||||||
| Professional services and other (c) | 171.2 | 155.8 | 9.9 | % | (0.2 | )% | 10.1 | % | ||||||||||||
| Total revenue | $ | 1,294.8 | $ | 1,114.0 | 16.2 | % | (0.3 | )% | 16.5 | % | ||||||||||
| a) | Dayforce has calculated percentage change in revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis. |
| b) | Float attributable to Other recurring was $0.9 million and $1.6 million for the nine months ended September 30, 2024, and 2023, respectively. |
| c) | For the nine months ended September 30, 2024, Professional services and other consisted of $164.4 million, $6.6 million, and $0.2 million associated with Dayforce, Other, and Powerpay, respectively. For the three months ended September 30, 2023, Professional services and other consisted of $144.6 million, $11.1 million, and $0.1 million associated with Dayforce, Other, and Powerpay, respectively. |
| Dayforce, Inc. Share-Based Compensation Expense and Related Employer Taxes (Unaudited) |
||||||||||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (in millions) | ||||||||||||||||
| Cost of revenue – Cloud | $ | 3.0 | $ | 3.9 | $ | 9.6 | $ | 11.9 | ||||||||
| Cost of revenue – Other | 0.6 | 0.5 | 1.7 | 1.2 | ||||||||||||
| Professional services and other | 4.0 | 4.4 | 11.7 | 13.5 | ||||||||||||
| Product development and management | 8.1 | 7.8 | 25.0 | 25.7 | ||||||||||||
| Sales and marketing | 9.4 | 6.4 | 27.2 | 19.0 | ||||||||||||
| General and administrative | 14.5 | 13.4 | 43.2 | 47.0 | ||||||||||||
| Total | $ | 39.6 | $ | 36.4 | $ | 118.4 | $ | 118.3 | ||||||||
| Dayforce, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) |
||||||||||||||||||||||||||||
| The following tables reconcile Dayforce’s reported results to its non-GAAP financial measures: | ||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||
| As reported | As reported margins (a) | Share-based compensation |
Amortization | Other (b) | As adjusted (b) | As adjusted margins (a) | ||||||||||||||||||||||
| (Dollars in millions, except per share data) | ||||||||||||||||||||||||||||
| Cost of Cloud recurring revenue | $ | 75.1 | 79.0 | % | $ | 3.0 | $ | — | $ | 0.1 | $ | 72.0 | 79.9 | % | ||||||||||||||
| Operating profit | $ | 20.8 | 4.7 | % | $ | 39.6 | $ | 29.6 | $ | 13.2 | $ | 103.2 | 23.5 | % | ||||||||||||||
| Net income | $ | 2.0 | 0.5 | % | $ | 39.6 | $ | 29.6 | $ | 3.3 | $ | 74.5 | 16.9 | % | ||||||||||||||
| Interest expense, net | 8.8 | — | — | — | 8.8 | |||||||||||||||||||||||
| Income tax expense (c) | 16.3 | — | — | (4.0 | ) | 20.3 | ||||||||||||||||||||||
| Depreciation and amortization | 52.1 | — | 29.6 | — | 22.5 | |||||||||||||||||||||||
| EBITDA | $ | 79.2 | $ | 39.6 | $ | — | $ | 7.3 | $ | 126.1 | 28.7 | % | ||||||||||||||||
| Net income per share – diluted (d) | $ | 0.01 | $ | 0.25 | $ | 0.19 | $ | 0.02 | $ | 0.47 | ||||||||||||||||||
| a) | Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net (loss) income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins. |
| b) | The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $9.0 million related to the fair value adjustment for the DataFuzion contingent consideration, $3.2 million of restructuring expenses, $3.2 million of costs associated with the planned termination of its frozen U.S. pension plan, $1.0 million of fees associated with initiating the receivables securitization program, and $9.1 million of foreign exchange gain, along with a $4.0 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics. |
| c) | Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period. |
| d) | GAAP and Adjusted diluted net income per share are calculated based upon 159.7 million weighted average shares of common stock. |
| Three Months Ended September 30, 2023 | ||||||||||||||||||||||||||||
| As reported | As reported margins (a) | Share-based compensation |
Amortization | Other (b) | As adjusted (b) | As adjusted margins (a) | ||||||||||||||||||||||
| (Dollars in millions, except per share data) | ||||||||||||||||||||||||||||
| Cost of Cloud recurring revenue | $ | 69.9 | 77.0 | % | $ | 3.9 | $ | — | $ | — | $ | 66.0 | 78.3 | % | ||||||||||||||
| Operating profit | $ | 26.5 | 7.0 | % | $ | 36.4 | $ | 20.5 | $ | 6.0 | $ | 89.4 | 23.7 | % | ||||||||||||||
| Net (loss) income | $ | (3.8 | ) | (1.0 | )% | $ | 36.4 | $ | 20.5 | $ | 5.2 | $ | 58.3 | 15.4 | % | |||||||||||||
| Interest expense, net | 8.9 | — | — | — | 8.9 | |||||||||||||||||||||||
| Income tax expense (c) | 16.3 | — | — | (5.5 | ) | 21.8 | ||||||||||||||||||||||
| Depreciation and amortization | 38.7 | — | 20.5 | — | 18.2 | |||||||||||||||||||||||
| EBITDA | $ | 60.1 | $ | 36.4 | $ | — | $ | 10.7 | $ | 107.2 | 28.4 | % | ||||||||||||||||
| Net (loss) income per share – diluted (d) | $ | (0.02 | ) | $ | 0.23 | $ | 0.13 | $ | 0.03 | $ | 0.37 | |||||||||||||||||
| a) | Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins. |
| b) | The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $4.7 million of foreign exchange loss, $4.6 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, $1.2 million of restructuring expenses, and $0.2 million related to the abandonment of certain leased facilities, along with a $5.5 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics. |
| c) | Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period. |
| d) | GAAP diluted net loss per share is calculated based upon 155.7 weighted average shares of common stock, and Adjusted diluted net income per share is calculated based upon 158.8 million weighted average shares of common stock. |
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||
| As reported | As reported margins (a) | Share-based compensation |
Amortization | Other (b) | As adjusted (b) | As adjusted margins (a) | ||||||||||||||||||||||
| (Dollars in millions, except per share data) | ||||||||||||||||||||||||||||
| Cost of Cloud recurring revenue | $ | 228.5 | 78.6 | % | $ | 9.6 | $ | — | $ | 0.9 | $ | 218.0 | 79.6 | % | ||||||||||||||
| Operating profit | $ | 75.6 | 5.8 | % | $ | 118.4 | $ | 87.5 | $ | 25.7 | $ | 307.2 | 23.7 | % | ||||||||||||||
| Net income | $ | 7.3 | 0.6 | % | $ | 118.4 | $ | 87.5 | $ | 5.5 | $ | 218.7 | 16.9 | % | ||||||||||||||
| Interest expense, net | 33.2 | — | — | — | 33.2 | |||||||||||||||||||||||
| Income tax expense (c) | 29.4 | — | — | (27.0 | ) | 56.4 | ||||||||||||||||||||||
| Depreciation and amortization | 151.5 | — | 87.5 | — | 64.0 | |||||||||||||||||||||||
| EBITDA | $ | 221.4 | $ | 118.4 | $ | — | $ | 32.5 | $ | 372.3 | 28.8 | % | ||||||||||||||||
| Net income per share – diluted (d) | $ | 0.05 | $ | 0.74 | $ | 0.55 | $ | 0.03 | $ | 1.37 | ||||||||||||||||||
| a) | Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins. |
| b) | The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $15.7 million of restructuring expenses, $9.7 million of costs associated with the planned termination of its frozen U.S. pension plan, $9.0 million related to the fair value adjustment for the DataFuzion contingent consideration, $1.0 million of fees associated with initiating the receivables securitization program, and $2.9 million of foreign exchange gain, along with a $27.0 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics. |
| c) | Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period. |
| d) | GAAP and Adjusted diluted net income per share are calculated based upon 159.9 million weighted average shares of common stock. |
| Nine Months Ended September 30, 2023 | ||||||||||||||||||||||||||||
| As reported | As reported margins (a) | Share-based compensation |
Amortization | Other (b) | As adjusted (b) | As adjusted margins (a) | ||||||||||||||||||||||
| (Dollars in millions, except per share data) | ||||||||||||||||||||||||||||
| Cost of Cloud recurring revenue | $ | 204.8 | 77.0 | % | $ | 11.9 | $ | — | $ | — | $ | 192.9 | 78.4 | % | ||||||||||||||
| Operating profit | $ | 94.3 | 8.5 | % | $ | 118.3 | $ | 32.7 | $ | 15.6 | $ | 260.9 | 23.4 | % | ||||||||||||||
| Net income | $ | 9.2 | 0.8 | % | $ | 118.3 | $ | 32.7 | $ | (1.8 | ) | $ | 158.4 | 14.2 | % | |||||||||||||
| Interest expense, net | 27.2 | — | — | — | 27.2 | |||||||||||||||||||||||
| Income tax expense (c) | 51.3 | — | — | (22.7 | ) | 74.0 | ||||||||||||||||||||||
| Depreciation and amortization | 84.1 | — | 32.7 | — | 51.4 | |||||||||||||||||||||||
| EBITDA | $ | 171.8 | $ | 118.3 | $ | — | $ | 20.9 | $ | 311.0 | 27.9 | % | ||||||||||||||||
| Net income per share – diluted (d) | $ | 0.06 | $ | 0.75 | $ | 0.21 | $ | (0.01 | ) | $ | 1.00 | |||||||||||||||||
| a) | Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins. |
| b) | The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $11.8 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, $5.3 million of foreign exchange loss, $3.4 million of restructuring expenses, and $0.4 million related to the abandonment of certain leased facilities, along with a $22.7 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics. |
| c) | Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period. |
| d) | GAAP and Adjusted diluted net income per share are calculated based upon 158.2 million weighted average shares of common stock. |
| Dayforce, Inc. Reconciliation of Free Cash Flow (Unaudited) |
||||||||||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (In millions) | ||||||||||||||||
| Net cash provided by operating activities | $ | 91.8 | $ | 36.6 | $ | 200.1 | $ | 129.6 | ||||||||
| Expenditures for property, plant, and equipment | (2.0 | ) | (5.3 | ) | (8.7 | ) | (15.4 | ) | ||||||||
| Expenditures for software and technology | (26.4 | ) | (26.5 | ) | (74.1 | ) | (72.9 | ) | ||||||||
| Free cash flow | $ | 63.4 | $ | 4.8 | $ | 117.3 | $ | 41.3 | ||||||||
Non-GAAP Financial Measures
Dayforce uses certain non-GAAP financial measures in this release including:
| Non-GAAP Financial Measure | GAAP Financial Measure | |
| EBITDA | Net (loss) income | |
| Adjusted EBITDA | Net (loss) income | |
| Adjusted EBITDA margin | Net profit margin | |
| Adjusted Cloud recurring gross margin | Cloud recurring gross margin | |
| Adjusted operating profit | Operating profit | |
| Adjusted operating profit margin | Operating profit margin | |
| Adjusted net income | Net (loss) income | |
| Adjusted net profit margin | Net profit margin | |
| Adjusted diluted net income per share | Diluted net (loss) income per share | |
| Free cash flow | Net cash provided by operating activities | |
| Percentage change in revenue, including total revenue and revenue by solution, on a constant currency basis | Percentage change in revenue, including total revenue and revenue by solution | |
| Dayforce recurring revenue per customer | No directly comparable GAAP measure |
Dayforce believes that these non-GAAP financial measures are useful to management and investors as supplemental measures to evaluate its overall operating performance including comparison across periods and with competitors. Dayforce’s management team uses these non-GAAP financial measures to assess operating performance because these financial measures exclude the results of decisions that are outside the normal course of its business operations, and are used for internal budgeting and forecasting purposes both for short- and long-term operating plans. Additionally, Adjusted EBITDA is a component of its management incentive plan and Adjusted Cloud recurring gross margin and Adjusted operating profit are components of certain performance based equity awards for its named executive officers. Additionally, Dayforce believes that the non-GAAP financial measure free cash flow is meaningful to investors because it is a measure of liquidity that provides useful information in understanding and evaluating the strength of Dayforce’s liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business. The exclusion of capital expenditures facilitates comparisons of Dayforce’s liquidity on a period-to-period basis and excludes items that management does not consider to be indicative of Dayforce’s liquidity.
These non-GAAP financial measures are not required by, defined under, or presented in accordance with, GAAP, and should not be considered as alternatives to Dayforce’s results as reported under GAAP, have important limitations as analytical tools, and its use of these terms may not be comparable to similarly titled measures of other companies in its industry. Dayforce’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by similar items to those eliminated in this presentation. Please refer to Dayforce’s full financial results, including further discussion of non-GAAP financial measures, on the Investor Relations portion of its website at investors.dayforce.com.
Dayforce defines its non-GAAP financial measures as follows:
Source: Dayforce, Inc.
For further information, please contact:
Investor Relations
1-844-829-9499
investors@dayforce.com
Public Relations
1-647-417-2117
teri.murphy@dayforce.com
Source: GlobeNewswire (MIL-OSI)
SANTIAGO, Chile, Oct. 30, 2024 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results1 for the nine-month period ended September 30, 2024, and third quarter 2024 (3Q24).
ROAE2of 23.1% in 3Q243and 18.2% in 9M244.
In the third quarter of 2024 (3Q24), the Bank’s net income attributable to shareholders totaled $243,133 million ($1.29 per share and US$ 0.58 per ADR), reflecting an increase of 11.7% compared to the previous quarter (2Q24), with an ROAE of 23.1%.
As of September 30, 2024, the Bank’s net income attributable to shareholders totaled $581.109 billion ($3.08 per share and US$1.37 per ADR), reflecting an increase of 81.9% compared to the same period of the previous year and with an ROAE of 18.2%.
The increase in results in the quarter is explained by an increase in the Bank’s main income lines, with operating income increasing by 6.3% in the quarter, driven by a better interest margin and readjustments.
Strong recovery of NIM5to 3.9% in 3Q24 and 3.4% in 9M24.
Net interest and readjustment income (NII) accumulated as of September 30, 2024 increased by 74.8% compared to the same period in 2023. This increase in NII was due to higher interest income due to improvements in the cost of funds resulting from a lower monetary policy rate, partially offset by lower readjustment income due to lower inflation in the period.
In 3Q24, total net interest and readjustment income increased by 4.2% compared to 2Q24. This is explained by higher net interest income due to lower funding costs and better investment portfolio performance, offset by lower net readjustment income due to lower UF variation in the quarter.
Net fees increase 8.3% in the quarter, reaching recurrence6levels of 63.4%.
Net fees increased 8.3% QoQ due to increased customer numbers and greater use of products such as mutual funds, cards and current accounts. With this, the recurrence ratio (total net fees divided by total core expenses) is 63.4% in 3Q24, demonstrating that more than half of the Bank’s expenses are financed by fees generated by our customers.
In the nine months to September 30, 2024, fees increased by 5.4% compared to the same period in 2023, mainly due to higher fees from current accounts, mutual fund brokerage and Getnet. This was partially offset by the impact of interchange fee regulation.
Getnet’s customer base continues to grow and its expansion continues
As a result of our strategy to strengthen digital products, the Bank’s market share in current accounts remains strong. According to the latest publicly available information, which is as of July 2024, our market share reaches 23.8% in current accounts, which includes products such as Santander Life and PYME Life, while our US$ current account solution is already attracting 41.2% of customers in this market. In total, our digital customers total around 2.2 million and represent 86% of our active customers, with the products with the greatest traction being deposits, credit cards, investment funds and general insurance brokerage.
Getnet’s entry into the Chilean acquiring market continues to surprise with good results, with net commissions of $54 billion in 9M24 (not including operating expenses). Customer reception has been high, with more than 182 thousand affiliated merchants and more than 243 thousand operational POSs, with a strong demand from SME clients and an expansion towards larger clients that require a Host to Host solution, offering an integrated payment system for more sophisticated clients. Thanks to Getnet and other initiatives such as the Cuenta Pyme Life, we are seeing significant growth in current accounts for SMEs and companies, growing 26.7% YoY by July 2024, and with a market share of 39.3% according to the CMF.
For the fifth consecutive year we are Top 1 in NPS among our Chilean peers
As a result of all our efforts, our customers are the most satisfied with us. As of September 2024, our NPS is 59 points, top 1 among our peers. We also rank first in net satisfaction in the evaluation of our account executives and contact center with 66 and 72 points respectively. Regarding digital channels, they also continue to be a strength, with the website standing out with a net satisfaction of 72 and the App with 74 points.
Efficiency ratio of 36.3% in the quarter as income improves and costs remain under control
The Bank’s efficiency ratio reached 40.0% as of September 30, 2024, better than the 48.0% of the same period last year, with a quarterly efficiency ratio of 36.3%, explained by the recovery of revenues in the quarter and solid cost control.
Core support expenses (salaries, administration and amortization) grew 4.4% in 9M24 compared to 9M23 and 0.4% compared to 2Q24, in line with the growth of inflation, as we mentioned in our previous guidance. Total operating expenses (which includes other expenses) increased 13.1% in 9M24 compared to the same period in 2023 driven by higher other operating expenses, related to a provision for the restructuring of our branch network and the transformation to Work/Café and also the progress in Digital Banking.
Cost of credit of 1.28% in 9M24, in line with the evolution of asset quality given the economic scenario.
During the Covid-19 pandemic, asset quality benefited from state aid and pension fund withdrawals, which led to a positive performance in assets during that period, before normalizing in line with the performance of the economy and the drainage of excess liquidity from households. Currently, our clients’ performance is reflecting the state of the economy and the labor market, where delinquency is higher than the levels we saw before the pandemic with the non-performing loans (NPL) ratio increasing to 3.1% and the impaired portfolio to 6.7% at September 2024. Overall the cost of credit remained stable at 1.28% in the quarter.
Solid capital levels with a BIS7ratio of 17.2% and a CET18of 10.7%.
Our total BIS ratio reached 17.2% as of September 30, 2024 and the CET1 ratio remains solid at 10.7%, even considering that we increased the dividend provision for the 2024 income from 30% to 60% in June 2024 and then to 70% in September 2024. Risk-weighted assets (RWA) increased 0.8% since December 31, 2023 and 0.3% QoQ, explained by a growth in market risk-weighted assets offset by a decrease in credit risk-weighted assets. Additionally, in January 2024, the CMF announced the Pillar II charges for six banks in the Chilean system, and we highlight that, on this occasion, they did not assign a charge to the Bank.
Upgrading guidance for 2024 and soft guidance for 2025
Given the strong recovery in our results and our current economic estimates for the fourth quarter, we are improving our ROAE guidance for 2024 to 18%-19%. We have upgraded our medium term guidance for ROAEs to 18%-20% and our soft guidance for 2025 indicates a ROAE within this range.
Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a Stable Outlook.
As of September 30, 2024, the Bank has total assets of $65,890,254 million (US$73,419 million), total gross loans (including loans to banks) at amortized cost of $40,362,740 million (US$44,975 million), total deposits of $29,617,085 million (US$33,001 million) and shareholders’ equity of $4,218,883 million (US$4,701 million). The BIS capital ratio was 17.2%, with a core capital ratio of 10.7%. As of September 30, 2024, Santander Chile employed 8,861 people and has 234 branches throughout Chile.
CONTACT INFORMATION
Cristian Vicuña
Chief Strategy Officer and Head of Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Email: irelations@santander.cl Website: www.santander.cl
1 The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
2 Annualized net income attributable to shareholders of the Bank divided by the average equity attributable to equity holders
3 The third quarter of 2024
4 The nine months accumulated as of September 30, 2024
5 NIM: Net interest margin. Annualized net interest income and annualized readjustments divided by interest-earning assets
6Recurrence: Net commissions divided by structural operating expenses (excludes other operating expenses).
7 Regulatory capital divided by risk-weighted assets, according to CMF BIS III definitions
8 Core capital divided by risk-weighted assets, according to CMF BIS III definitions.
Source: GlobeNewswire (MIL-OSI)
SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Foresight Ventures, the leading investment firm specializing in Web3 projects, today announced a strategic partnership with Deep Blue, a newly launched Jersey-based stablecoin issuer and Arta TechFin Corporation Limited (Arta TechFin, HKSE: 0279), a Hong Kong listed company via its subsidiaries operating regulated financial institutions and leading blockchain developments. The alliance aims to drive innovation and growth of the Stablecoin and Real-World Asset (RWA) ecosystem.
Deep Blue is an issuance platform for Stablecoins bringing best-in-class practices and best partners in both digital assets and traditional finance, enabling users to operate across multiple use cases.
Arta TechFin will bring in its capabilities as a regulated blockchain financial services provider, collaborating with Foresight Ventures and Deep Blue on Stablecoin and RWA businesses including but not limited to origination, tokenization, market making, and providing liquidity.
Julien Bahurel, co-founder of Deep Blue, commented on the partnership: “We are excited to join forces with Foresight Ventures to accelerate our efforts in the Stablecoin and RWA sectors. This partnership represents a significant step forward in our mission to bridge the gap between traditional finance and the emerging blockchain economy; leveraging on key crypto partners, large Asia-based conglomerates and financial institutions.”
Foresight Ventures, known for its commitment to fostering Web3 projects that promote decentralization and mainstream adoption of cryptocurrency, will provide Deep Blue with strategic collaborations that include media and network resources. This partnership is expected to elevate Deep Blue’s initiatives, bringing them to a wider audience and enhancing their impact on the global financial landscape. Both parties look to leverage off each other’s access to the blockchain and traditional finance ecosystems.
Forest Bai, Representative at Foresight Ventures, expressed his enthusiasm for the partnership: “We are thrilled to collaborate with Deep Blue and ArtaTechFin, companies that share our vision of a decentralized future where blockchain and traditional finance coexist seamlessly. Our strategic resources and industry expertise will help Deep Blue scale its ecosystem and make a lasting impact in the stablecoin and RWA domains.”
This strategic partnership marks a new chapter for all companies as they work together to pioneer cutting-edge financial solutions that will shape the future of the global economy.
For more information, please visit Deep Blue Limited or ArtaTechFin
About Foresight Ventures
Foresight Ventures is the leading global crypto venture capital firm, managing over $400 million in assets across 100+ investments. With a research-driven approach, Foresight Ventures bridges Eastern and Western markets, focusing on early-stage opportunities in Web3. Its diverse portfolio spans blockchain infrastructure, AI and consumer applications with investments in top companies like Bitget, Aptos Labs, and TON. Through its premier owned media network, including The Block, Coinness and BlockTempo, the firm provides exposure to transformative technologies that shape the future of financial ecosystems.
Foresight Ventures backs the boldest upcoming innovations, encouraging concepts that challenge conventional platforms with real-life use cases built on emerging technologies. Dedicated to accelerating crypto adoption for billions of people worldwide, Foresight Ventures breaks down barriers empowering global financial freedom and inclusion to all.
For general enquiries, please email: fv@foresightventures.com
Contact
Media Team
Foresight Ventures
fv@foresightventures.com
Source: World Trade Organization
Since its establishment in 1995, the WTO has supported the participation of developing economies and least-developed countries (LDCs) in the multilateral trading system through the provision of technical assistance, helping beneficiaries develop their capacity to take full advantage of global trade. Over the past 30 years, more than 320,000 government officials have benefited from this assistance.
WTO technical assistance is a pivotal function of the organization and has evolved constantly to meet the emerging needs of the beneficiaries and a changing global environment, with an increasing focus on achieving measurable results.
The WTO has conducted over 10,000 technical assistance activities for its eligible members and observers since 1995. In the initial three years following the organization’s establishment, these activities were carried out globally, without focusing on particular regions. However, starting in 1998, the focus shifted toward addressing the specific needs of individual members, either regionally or at the domestic level.
Africa has consistently received the largest share of technical assistance, averaging around 30 per cent of annual activities and rising as high as 40 per cent between 2005 and 2011 (see Chart 1). The Asia-Pacific region has benefited from roughly 20 per cent of activities. The Middle East, the Caribbean, and Central and Eastern Europe and Central Asia have received respectively between 5 per cent and 10 per cent annually. Latin America has also featured prominently in technical assistance programmes, receiving on average approximately 10 per cent of activities.
The launch in 2004 of the WTO technical assistance e-Learning platform, which was upgraded in 2022, was a game-changer in terms of delivering more accessible technical assistance and providing more cost-effective training. The platform gained additional importance during the COVID-19 pandemic, when travel restrictions prevented face-to-face activities.
Since 1995, over 110,000 government officials have been trained via the e-Learning platform, representing more than a third of the total number of beneficiaries (see Chart 2). The number of e‑Learning participants per year has surpassed the number of beneficiaries of face-to-face activities since 2014. More recently, a new approach, combining e‑Learning, face-to-face and virtual activities is gradually being introduced.
WTO technical assistance is primarily aimed at government officials, but its outreach extends to other key groups, including the academic community through the WTO Chairs Programme, as well as members of parliament, journalists, the private sector and non-governmental organizations.
In 2010, a progressive learning strategy was introduced to improve the efficient use of resources in technical assistance delivery by focusing on advancing participants’ skills progressively. This progressive learning strategy structures technical assistance activities around three levels of learning — introductory, intermediate and advanced — and two training paths — for generalists and for specialists — with the aim of building beneficiaries’ capacity in a sustainable and cumulative manner.
The training methods used in the delivery of technical assistance programmes have also evolved over time. While the approach in 1995 was predominantly lecture-based, the proportion of lectures in the total training time has been somewhat reduced since 2013 in favour of face-to-face activities incorporating more hands-on sessions and interactive pedagogical techniques (see Chart 3). Recent years have seen the introduction of mentoring and coaching.
In addition to training programmes, the first internship programme was launched in 1998. Since then, four other similar programmes have been set up. These internship opportunities have collectively benefited more than 800 participants from over 100 WTO members and observers.
WTO technical assistance is governed by biennial plans setting out priorities and strategies to ensure that the needs of beneficiaries are effectively met. In 2013, a results-based management approach was implemented to improve monitoring of all WTO technical assistance activities, from planning to evaluation. The approach aims to produce specific and measurable results to improve beneficiaries’ capacity to participate in the multilateral trading system.
Since its introduction, the proportion of technical assistance targets fully or partially met, such as successful completion of the courses, reached 91 per cent in 2018. This number declined between 2020 and 2022 due to the impact of the COVID-19 pandemic on technical assistance delivery but rose again in 2023 (see Chart 4).
Technical assistance has contributed to improving the capacity of developing WTO members and observers, and particularly LDCs, to engage effectively in WTO negotiations and participate in the work of WTO bodies. It has also been essential to economies wishing to join the WTO as they proceed through their WTO accession processes.
For several recent agreements negotiated at the WTO (e.g., the agreements on trade facilitation, fisheries subsidies and investment facilitation for development), provisions related to technical assistance for developing and LDC members have been crucial to concluding the negotiations. Over the past 10 years alone, thousands of government officials have benefited from technical assistance training programmes designed to strengthen their capacity to comply with obligations under WTO agreements and to benefit fully from these WTO agreements (see Chart 5).
The topics covered by technical assistance training programmes have continued to evolve over the years in line with the priorities defined by beneficiaries. This flexibility allows WTO technical assistance to take account of evolving issues on the WTO agenda, such as digital trade, the green economy and inclusive trade.
The impact of these efforts can be measured in different ways. For example, WTO technical assistance has striven through capacity-building to stimulate a sustained increase in the number of proposals or other documents covering a variety of topics under negotiation or discussion submitted to WTO bodies by technical assistance beneficiaries. These contributions have been invaluable in making trade deliberations and decision-making more inclusive.
Strengthening the capacity of technical assistance beneficiaries to fulfil their transparency obligations under various WTO agreements, including by notifying new trade measures, is among the performance targets for WTO technical assistance. As the overall volume of notification obligations has increased each year, technical assistance efforts have enabled beneficiaries not only to keep pace with their new notification obligations, but even to reduce their backlog progressively.
WTO technical assistance is financed both by the regular budget of the WTO Secretariat and by means of voluntary contributions made by WTO members to trust funds. A total of over CHF 500 million has been committed since 1995. Contributions from the regular budget reached their highest levels between 2002 and 2013 and have remained at CHF 4.5 million since then. Meanwhile, members’ voluntary contributions have steadily declined, dropping from CHF 23 million on average between 2007 and 2009 to CHF 6.3 million in 2023 (see Chart 6).
Sustained funding continues to be essential to responding efficiently to the evolving needs of members and securing the technical assistance necessary for an inclusive multilateral trading system.
Source: European Parliament
22.10.2024
Question for written answer E-002210/2024
to the Commission
Rule 144
Eleonora Meleti (PPE)
Europe is very concerned to be witnessing the ever increasing use of the internet and social media by children and adolescents. Such use is often linked to addiction problems, mental health issues and aggressive behaviour in the real world. Young people spend a significant amount of time online and are exposed to a plethora of false information and bad role models, leading to increased levels of anxiety, depression and isolation, with worrying consequences for the development of their personality and their healthy mental development.
Countries such as Australia are planning to impose age restrictions on social media use, while others like Belgium and Greece are outlawing the use of mobile phones in schools.
In view of the above:
Submitted: 22.10.2024
Source: City of Stoke-on-Trent
Published: Wednesday, 30th October 2024
Noodles, burritos, chimney cakes and souvlaki are just a few of the foods making their way back to Hanley as the Continental Market returns.
Stoke-on-Trent City Council has announced that the market will return this November, treating shoppers to a wide array of continental cuisine.
There will also be a fantastic range of gifts and products, brought to you by traders from all over the world across several continents, including Europe, Asia and South America.
The stalls will be located on Parliament Row and Upper Market Square and will join the regular outdoor traders’ who operate in the city centre, from Thursday 7th November to Sunday 10th November between 10am – 6pm (closing at 4pm on Sunday).
Councillor Finlay Gordon-McCusker, cabinet member for transport, infrastructure and regeneration said: “We are delighted that the Continental Market is making a return in November.
“Each year, the delicious food and amazing crafts that traders bring highlight so many amazing cultures and this is a great thing for a city like Stoke-on-Trent. We have wonderful local businesses and traders and events like the market attract more people to the area and increase footfall in these businesses.
“We would strongly encourage people to go and check out the market, because there are some amazing food and products on show in what promises to be a great event for the city.”
Businesses on the stalls will include Taste of Germany, Little China Noodles Bar and Aunty Sally Fudge.