Source: Central Bank of Iceland
A statement of the Monetary Policy Committee will be published on the Central Bank of Iceland website Wednesday 5 February 2025 at 08:30 hrs. The Bank’s Monetary Bulletin will be published at 08:35 hrs. An hour later, at 9:30 hrs., a press conference on the statement and the contents of the Monetary Bulletin will be held.
Source: GlobeNewswire (MIL-OSI)
NEW FREEDOM, Pa., Feb. 04, 2025 (GLOBE NEWSWIRE) — Nexterus, a world-class supply chain management and third-party logistics (3PL) services provider is celebrating its 79th year in business and has announced a significant milestone, exceeding fundraising goals and positively impacting more than 25 charities last year, along with selecting a new partner charity for 2025.
Nexterus is committed to supporting local non-profit organizations and charitable causes by encouraging their employees to volunteer throughout the year. 2024 marked the 25th anniversary of the Nexterus Culture Action Team (CAT), and to celebrate this historic milestone, their goal was to positively impact at least 25 non-profits within the community. They exceeded their goal by commencing fundraising activities, donating and volunteering throughout the entirety of 2024.
“Nexterus has an exceptionally storied history of giving back in the community,” says Ryan Polakoff, CEO of Nexterus. “I am so incredibly proud of our Nexterians who voluntarily serve on our CAT Team. It’s a true testament to who they are as people, and we’re so lucky to have them. It was truly our honor to be able to serve regional & national charities, largely in York County, PA and Greater Baltimore, MD.”
The charities benefiting from Nexterus’ CAT Team efforts in 2024 are listed below:
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In 2025, Nexterus will be partnering with The United Birthday Club as its adopted charity of the year. The United Birthday Club is a local non-profit organization located in New Freedom, PA. Each year, they donate to numerous organizations within the community including local fire departments, places of worship, charity events, local youth in need. Additionally, each year the group adopts multiple families for the holidays. Nexterus looks forward to working hard to generate funds and awareness in 2025 to support the great work of The United Birthday Club.
To learn more about Nexterus, please visit Nexterus.com
About Nexterus
Nexterus solves urgent and complex supply chain issues, applying expertise and technology to manage and optimize global supply chains. As America’s oldest private, non-asset-based, third-party logistics (3PL) company, Nexterus helps small and medium-sized companies better compete through the power of their supply chains. With best-in-class strategies and services, Nexterus gives clients the freedom to build their businesses without being distracted by complex supply chain challenges and tedious tasks, allowing these companies to improve productivity, efficiencies, and customer service. Please find us at nexterus.com (https://www.nexterus.com).
For More Information, contact:
Mary Schmidt
Nexterus
Cell: (717)-817-5763
Mschmidt@nexterus.com
Source: The Conversation – Canada – By Bruce Campbell, Adjunct Professor, Faculty of Environmental and Urban Change, York University, Canada
Before assessing the impact of United States President Donald Trump’s climate and energy policies, some context about the current state of the planet is in order. United Nations Secretary General Antonio Guterres recently called the world’s fossil fuel addiction “a Frankenstein’s monster sparing nothing and no one.”
The year 2024 was the first in which the average temperature exceeded the Paris Agreement threshold of 1.5°C. Under a status quo scenario, Earth is on track to reach an approximate 2.7°C increase in planetary warming by 2100.
The 2024 Lancet Countdown on Health and Climate Change report found that climate-related global health threats are reaching new records, including heat-related deaths, food insecurity and the spread of infectious diseases.
Despite six reports by the Intergovernmental Panel on Climate Change (IPCC), 29 COP conferences and thousands of scientific papers, the world has made only minor headway on climate action.
The 10 largest oil-producing and consuming countries account for 73 per cent of total oil production and consumption globally.
The U.S. is the largest oil producer and oil consumer, accounting for almost one-quarter of global production and more than 20 per cent of consumption in 2022. Canada is the fourth-largest oil producer and the ninth-largest consumer, and also has the highest per-capita CO2 emission levels of any country.
The world’s 60 largest banks, meanwhile, earmarked US$6.9 trillion over the last eight years to enable the fossil fuel industry.
According to an Oxfam International report, the richest one per cent of the world’s population, most of whom live in developed countries, are responsible for more than twice as much carbon pollution each year as the poorest 50 per cent of humanity. Low-income countries that make up nearly 60 per cent of the world’s population, on the other hand, account for less than 15 per cent of global greenhouse gas emissions.
At COP 29 in Azerbaijan last year, developed countries, including Canada, pledged to triple their financial support for poor climate-vulnerable countries to $300 billion a year by 2035 to help them mitigate emissions, adapt to climate threats and help pay for loss and damage.
But this is far from the $1.3 trillion demanded by Global South countries. Their pledges bear little resemblance to global fossil fuel subsidies that totalled an estimated $7 trillion in 2022.
Ahead of Trump’s recent inauguration, and under sustained pressure by Republicans, major American and Canadian banks withdrew from the Net-Zero Banking Alliance (NZBA) originally led by Canada’s Mark Carney as the United Nations’ Special Envoy for Climate Action.
Read more:
Mark Carney might have the edge as potential Liberal leader, but still faces major obstacles
The oil and gas industry donated more than $75 million to Trump’s campaign, though donations provided by those with links to fossil fuels were estimated to be five times greater than that.
Trump’s more than 200 executive orders included a so-called National Energy Emergency Declaration, in which he:
· Withdrew the U.S. from the Paris Climate Agreement, which he called one-sided, joining only three other petro-states — Iran, Libya and Yemen — that are not signatories to the Agreement.
· Signed an order aimed at “unleashing American energy.”
· Signed a declaration that would allow his administration to fast-track permits for new fossil fuel infrastructure.
· Blocked all new offshore wind power development.
· Revoked former president Joe Biden’s order that half of vehicles sold by 2030 be electric
· Enabled new oil and gas development on federal lands, including reversing restrictions on petroleum extraction in Alaska and the Arctic Wildlife Reserve.
Elon Musk, among Trump’s closest billionaire allies, has been silent on the president’s 2025 exit from the Paris Climate Accord.
This is noteworthy because after Trump’s first withdrawal from the accord in 2017, Musk announced he was leaving presidential advisory councils, stating: “Climate change is real, leaving Paris is not good for America or the world.”
Notwithstanding the Trump fossil fuels embrace, there are some silver linings.
Although the Trump snub of the COP climate conferences is generally seen as a setback, stronger climate action may now be possible without the U.S. at the table. Furthermore, many American states and municipalities will continue to push forward with aggressive emissions reduction measures. And thousands of climate lawsuits against U.S. governments and corporations are underway.
Read more:
Trump voters are not the obstacle to climate action many think they are
Trump’s actions may also spur the migration of the U.S. renewables industry to Canada. Regardless, renewables will continue to replace fossil fuels worldwide.
A global movement of governments, elected officials, organizations and individuals has endorsed the Canadian-founded Fossil Fuels Non-Proliferation treaty initiative. Modelled on the Nuclear Non-Proliferation Treaty, it sets clear deadlines for the global phaseout of fossil fuels.
At the 2025 World Economic Forum, Fortescue, a global metal mining giant, endorsed the treaty, the first major industrial company to do so.
In his famous 2015 Lloyd’s of London speech, Carney, now the Liberal leadership frontrunner, called climate change “the tragedy of the horizon.”
He warned that climate change will lead to financial crises and falling living standards unless the world’s biggest economies do more to ensure their companies come clean about their current and future carbon emissions.
Payam Akhavan, an Iranian-born Canadian human rights lawyer, served as legal counsel to the Commission of Small Island States at the recent International Court of Justice climate hearings where these nations presented evidence about the devastating impact of climate change on their citizens.
In an interview with CBC Ideas, Akhavan said: “What’s happening to the small island states today is going to happen to all of us tomorrow.”
Ultimately, the writing is on the wall for fossil fuels. It’s not a matter of if the world moves away from them dramatically, but when.
Bruce Campbell was awarded a Community Leadership in Justice fellowship from the Ontario Law Foundation in 2016. He is a voluntary member of the Canadian Centre for Policy Alternatives, the Rideau Institute for International Affairs, and the Group of 78.
– ref. The impact of Donald Trump’s anti-climate measures on our heating planet – https://theconversation.com/the-impact-of-donald-trumps-anti-climate-measures-on-our-heating-planet-247887
Source: GlobeNewswire (MIL-OSI)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
Nykredit Realkredit A/S has received the Danish Financial Supervisory Authority’s approval of Nykredit’s increase of the qualifying shareholding in Spar Nord Bank A/S.
4 February 2025
Nykredit Realkredit A/S has received the Danish Financial Supervisory Authority’s approval of Nykredit’s increase of the qualifying shareholding in Spar Nord Bank A/S.
In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.
On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. The Offer Period ends on 19 February 2025 at 23:59 (CET).
Nykredit has received the Danish Financial Supervisory Authority’s approval in accordance with section 61 of the Danish Financial Business Act to increase Nykredit’s qualifying shareholding in Spar Nord Bank up to 100 per cent of the share capital.
In addition to the Danish Financial Supervisory Authority’s approval, the Offer is subject to fulfilment of the conditions set out in section 6.6 of the Offer Document, including approval by the Danish Competition and Consumer Authority and achievement of the 67 per cent acceptance limit.
It is Nykredit’s view that the shareholders of Spar Nord Bank find the Offer attractive. At the time of this announcement, Nykredit holds 31.1 per cent of the shares in Spar Nord Bank, and Nykredit’s information about acceptances received so far indicates that the 67 per cent acceptance limit stated in the Offer has been reached.
Nykredit aims to delist Spar Nord Bank from Nasdaq Copenhagen A/S and to compulsorily acquire the remaining shares as soon as possible after completion of the Offer.
Nykredit expects the Offer to be completed during H1/2025.
The full terms and conditions of the Offer are contained in the Offer Document. The Offer Document is published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/en-gb/offer-spar-nord/ and https://www.sparnord.com/investor-relations/takeover-offer.
About Spar Nord Bank
Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.
Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.
The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.
About Nykredit
Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.
Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.
Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.
Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.
Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.
Questions and further information
Any questions concerning the Offer may be directed to:
Nykredit Bank A/S
Company reg. (CVR) no.: 10 51 96 08
Sundkrogsgade 25
2150 Nordhavn
Denmark
Telephone: +45 7010 9000
and
Carnegie Investment Bank
Filial af Carnegie Investment Bank AB (publ), Sverige
Company reg. (CVR) no. 35 52 12 67
Overgaden Neden Vandet 9B
1414 Copenhagen K
Denmark
E-mail: annette.hansen@carnegie.dk
For further information about the Offer, please see: https://www.nykredit.com/en-gb/offer-spar-nord/.
This announcement and the Offer Document are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.
This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.
Restricted jurisdictions
The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.
Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.
Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining this Offer Document, an acceptance form and/or other documents relating to the Offer Document or to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.
Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this Offer Document outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.
Important Information for Shareholders in the United States
The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.
The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice
Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.
In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.
In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.
It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.
The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.
NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.
1 Executive Order no. 636 of 15 May 2020
Attachment
Source: United States Courts
Total bankruptcy filings rose 14.2 percent, with increases in both business and non-business bankruptcies, in the twelve-month period ending Dec. 31, 2024. This continues an ongoing rebound in filings after more than a decade of sharply dropping totals.
According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 517,308 in the year ending December 2024, compared with 452,990 cases in the previous year.
Business filings rose 22.1 percent, from 18,926 to 23,107, in the year ending Dec. 31, 2024. Non-business bankruptcy filings rose 13.9 percent to 494,201, compared with 434,064 in December 2023.
Bankruptcy totals for the previous 12 months are reported four times annually.
For more than a decade, total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. Total filings have increased each quarter since then, but they remain far lower than historical highs.
| Year | Business | Non-Business | Total |
| 2024 | 23,107 | 494,201 | 517,308 |
| 2023 | 18,926 | 434,064 | 452,990 |
| 2022 | 13,481 | 374,240 | 387,721 |
| 2021 | 14,347 | 399,269 | 413,616 |
| 2020 | 21,655 | 522,808 | 544,463 |
| Year | Chapter | |||
| 7 | 11 | 12 | 13 | |
| 2024 | 310,631 | 8,884 | 216 | 197,244 |
| 2023 | 261,277 | 7,456 | 139 | 183,956 |
| 2022 | 225,455 | 4,918 | 169 | 157,087 |
| 2021 | 288,327 | 4,836 | 276 | 120,002 |
| 2020 | 378,953 | 8,333 | 560 | 156,377 |
The following bankruptcy filings statistics tables are available:
For more on bankruptcy and its chapters, view the following resources:
Source: Bank of Botswana
Over the twelve months period to January 2025, the nominal Pula exchange rate depreciated by 3.2 percent against the South African rand, while it appreciated by 0.1 percent against the IMF Special Drawing Rights (SDR). With respect to the SDR constituent currencies, the Pula appreciated by 2.8 percent against the Japanese yen, 2.3 percent against the euro and 0.2 percent against the British pound, while it depreciated by 1.8 percent against the US dollar and 0.2 percent against the Chinese renminbi.
The Pula depreciated by 0.8 percent against the South African rand, while it appreciated by 0.5 percent against the SDR over the one-month period to January 2025. It appreciated by 1.5 percent against the British pound, 0.6 percent against the euro, 0.5 percent against the US dollar and 0.2 percent against the Chinese renminbi, while it depreciated by 0.4 percent against the Japanese yen.
Source: Bank of Botswana
The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 12 February 2025. For the 1-month BoBC paper maturing on 5 March 2025, the stop-out yield increased from 2.23 percent to 2.25 percent. The summarised results of the auction held on 4 February 2025, are attached below:
BOBC Results 4 February 2025.pdf
Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
Only a small proportion of financial institutions fully integrate risks associated with reducing greenhouse gas emissions and adapting to climate change into their corporate governance systems. These include: survey results Bank of Russia, conducted to assess the implementation recommendations regulator.
Banks are more involved in the climate agenda than NPFs and insurance companies. Some of them already set the relevant conditions in loan agreements.
Monitoring climate and environmental strategies The Bank of Russia’s survey of the largest non-financial companies showed that companies have begun to better disclose climate information and set more ambitious goals. However, environmental goals are often formal in nature.
Russia’s trading partners continue their transition to a low-carbon economy and introduce regulations that will affect international trade. Therefore, the Bank of Russia intends to describe in more detail the methodologies for taking into account climate risks and develop recommendations for banks on how to manage them. It also plans to continue climate stress testing and encourage financial institutions to assess these risks independently.
Preview photo: Sergey Bobylev / TASS
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
HTTPS: //vv. KBR.ru/Press/Event/? ID = 23335
Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia (2) –
Updated: 18.04.2023
If you have non-cash rubles in your bank account, they can be exchanged for digital rubles at a one-to-one ratio. Using the usual mobile application of the bank you use, you can go to the digital wallet and perform the necessary operation using the “Top up” function. No commission.
If you have cash, you will first need to deposit it into your bank account (via an ATM or bank teller), and then exchange it for digital by topping up your digital wallet from your bank account via your usual mobile app.
If you need to withdraw money from a digital wallet, you should first transfer it to your bank account. This can also be done through a familiar mobile application, and then withdraw cash from an ATM or bank teller.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Source: GlobeNewswire (MIL-OSI)
NEW YORK and ALEXANDRIA, Va., Feb. 04, 2025 (GLOBE NEWSWIRE) — There were 539 commercial chapter 11 filings recorded in January 2025, a 16 percent increase from the 465 commercial chapter 11s in January 2024, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial bankruptcy filings rose 11 percent in January 2025, with the 2,358 filings ticking up from the 2,126 filings in January 2024. Small business filings, captured as subchapter V elections within chapter 11, increased 7 percent to 171 in January 2025, up slightly from 160 in January 2024.
Total bankruptcy filings increased 13 percent to 41,492 in January 2025 from the 36,629 filings recorded in January 2024. Individual bankruptcy filings also increased 13 percent in January to 39,134, up from the January 2024 individual filing total of 34,503. There were 22,938 individual chapter 7 filings in January 2025, a 17 percent increase over the 19,580 filings recorded in January 2024, and there were 16,087 individual chapter 13 filings in January 2025, an 8 percent increase over the 14,873 filings last January.
“Total bankruptcy filings continue to grow double digit percentages each month,” said Michael Hunter, Vice President of Epiq AACER. “The signs of consumer stress also have become more pronounced as credit card delinquency reach a 12-year high and the share of those active credit card holders making the minimum payments are at a 13-year high. I expect this growth trend to continue and then accelerate after tax season concludes into the summer months.”
“The pace of year-over-year increases for both small business subchapter V elections and consumer chapter 13 filings continues to taper following the expiration last year of enhanced debt limits for both filing categories,” said ABI Executive Director Amy Quackenboss. “We look forward to continuing to work with Congress to provide the data and research needed to demonstrate how higher debt-eligibility limits for small businesses and individuals creates greater access and a more efficient process for families and businesses looking for a financial fresh start.”
Compared to December, bankruptcy filings registered moderate fluctuations. Total bankruptcies increased 9 percent over December’s 38,130 filings, and consumer bankruptcies also edged up 9 percent over December’s total of 35,791. Individual chapter 7s increased 5 percent, and chapter 13s increased 17 percent, from December’s filings. Overall commercial filings increased 1 percent from the 2,339 filings registered in December. Conversely, commercial chapter 11s decreased 3 percent from December’s 553 filings, and subchapter V elections within chapter 11 decreased 9 percent from the 187 filed in December 2024.
ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. Its Bankruptcy Analytics subscription service provides on-demand access to the industry’s most dynamic bankruptcy data, updated daily. Learn more at https://bankruptcy.epiqglobal.com/analytics.
About Epiq
Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at https://www.epiqglobal.com.
About ABI
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.
Press Contacts
Carrie Trent
Epiq, Director of Communications & Public Relations
Carrie.Trent@epiqglobal.com
John Hartgen
ABI, Public Affairs Officer
jhartgen@abi.org
Source: GlobeNewswire (MIL-OSI)
DUBLIN, Ga., Feb. 04, 2025 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank (the “Bank”), today reported its financial results for the quarter and year ended December 31, 2024. Year over year and quarter by quarter comparisons are included herewith.
On January 29, 2025, the Company’s Board of Directors announced a 30.43% increase in its quarterly cash dividend, raising it to $0.12 per common share—an increase of $0.028 per share over the quarterly dividend of $0.092 paid in each of the prior quarters last year1. This dividend will be payable on or about March 14, 2025, to all shareholders of record as of February 15, 2025. In addition to this increase, the Board also approved a one-time special dividend of $0.15 per common share. This special dividend will be payable on or about March 21, 2025, to all shareholders of record as of February 15, 2025.
“We are extremely pleased with the Company’s strong financial performance in 2024, achieving net earnings of $21.8 million. As the Federal Reserve pivoted during the year and decreased interest rates for the first time since March of 2020, our team effectively managed our net interest margin, closing the year at 4.06%—an increase of 8 basis points from the prior year end,” said Spence Mullis, Chairman and CEO. “At the bank level, we achieved a 1.68% return on average assets and a 12.74% return on average equity, closing the year with a leverage ratio of 12.84%, placing us in the top 10% of our FDIC peer group* in terms of capital strength. As mentioned in our third-quarter earnings release, given our strong capital position at both the bank and holding company and solid cash position at the holding company, we have the ability and plan to retire the remaining $15.0 million in subordinated debt when the window for retirement opens in July 2025. With our robust capital levels and strong earnings performance, we are well-positioned to capitalize on strategic opportunities and drive continued organic growth within our existing footprint while continuing to grow value for our shareholders through earnings and dividends.”
Following is a summary of the quarterly and annual highlights:
Fourth Quarter 2024 Highlights
Full Year 2024 Highlights
*as defined in the FDIC’s Uniform Bank Performance Report
Forward-looking Statements
Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “plan,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with the Company’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of the Company makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; the Company’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release.
1 Per share amounts for March 31, 2024 and previous quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.
| MORRIS STATE BANCSHARES, INC. | |||||||||||||||||||||
| AND SUBSIDIARIES | |||||||||||||||||||||
| Consolidated Balance Sheets | |||||||||||||||||||||
| December 31, 2024 and 2023 | |||||||||||||||||||||
| December 31, | December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change | % Change | ||||||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||||||||
| ASSETS | |||||||||||||||||||||
| Cash and due from banks | $ | 53,898,138 | $ | 51,060,389 | $ | 2,837,749 | 5.56 | % | |||||||||||||
| Federal funds sold | 42,064,131 | 17,268,446 | 24,795,685 | 143.59 | % | ||||||||||||||||
| Total cash and cash equivalents | 95,962,269 | 68,328,835 | 27,633,434 | 40.44 | % | ||||||||||||||||
| Interest-bearing time deposits in other banks | 100,000 | 100,000 | — | 0.00 | % | ||||||||||||||||
| Securities available for sale, at fair value | 9,726,716 | 7,875,780 | 1,850,936 | 0.00 | % | ||||||||||||||||
| Securities held to maturity, at cost | 215,836,502 | 240,205,635 | (24,369,133 | ) | -10.15 | % | |||||||||||||||
| Federal Home Loan Bank stock, restricted, at cost | 1,032,800 | 1,029,600 | 3,200 | 0.31 | % | ||||||||||||||||
| Loans, net of unearned income | 1,116,074,659 | 1,063,772,222 | 52,302,437 | 4.92 | % | ||||||||||||||||
| Less-allowance for loan losses | (14,488,525 | ) | (14,291,923 | ) | (196,602 | ) | 1.38 | % | |||||||||||||
| Loans, net | 1,101,586,134 | 1,049,480,299 | 52,105,835 | 4.96 | % | ||||||||||||||||
| Bank premises and equipment, net | 12,780,014 | 13,188,353 | (408,339 | ) | -3.10 | % | |||||||||||||||
| ROU assets for operating lease, net | 776,979 | 1,126,156 | (349,177 | ) | -31.01 | % | |||||||||||||||
| Goodwill | 9,361,704 | 9,361,704 | — | 0.00 | % | ||||||||||||||||
| Intangible assets, net | 1,338,964 | 1,679,989 | (341,025 | ) | -20.30 | % | |||||||||||||||
| Other real estate and foreclosed assets | 21,898 | 3,611,235 | (3,589,337 | ) | -99.39 | % | |||||||||||||||
| Accrued interest receivable | 7,278,258 | 6,424,090 | 854,168 | 13.30 | % | ||||||||||||||||
| Cash surrender value of life insurance | 15,128,762 | 14,711,623 | 417,139 | 2.84 | % | ||||||||||||||||
| Other assets | 22,674,658 | 25,321,092 | (2,646,434 | ) | -10.45 | % | |||||||||||||||
| Total Assets | $ | 1,493,605,658 | $ | 1,442,444,391 | $ | 51,161,267 | 3.55 | % | |||||||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||
| Deposits: | |||||||||||||||||||||
| Non-interest bearing | $ | 325,534,335 | $ | 316,224,444 | $ | 9,309,891 | 2.94 | % | |||||||||||||
| Interest bearing | 939,354,005 | 909,976,336 | 29,377,669 | 3.23 | % | ||||||||||||||||
| 1,264,888,340 | 1,226,200,780 | 38,687,560 | 3.16 | % | |||||||||||||||||
| Other borrowed funds | 19,019,372 | 27,151,283 | (8,131,911 | ) | -29.95 | % | |||||||||||||||
| Lease liability for operating lease | 776,979 | 1,126,156 | (349,177 | ) | -31.01 | % | |||||||||||||||
| Accrued interest payable | 2,111,093 | 1,059,226 | 1,051,867 | 99.31 | % | ||||||||||||||||
| Accrued expenses and other liabilities | 11,206,717 | 8,773,430 | 2,433,287 | 27.73 | % | ||||||||||||||||
| Total liabilities | 1,298,002,501 | 1,264,310,875 | 33,691,626 | 2.66 | % | ||||||||||||||||
| Shareholders’ Equity: | |||||||||||||||||||||
| Common stock | 10,688,723 | 10,645,508 | 43,215 | 0.41 | % | ||||||||||||||||
| Paid in capital surplus | 34,936,059 | 33,711,561 | 1,224,498 | 3.63 | % | ||||||||||||||||
| Retained earnings | 130,111,050 | 115,232,196 | 14,878,854 | 12.91 | % | ||||||||||||||||
| Current year earnings | 21,804,345 | 19,332,489 | 2,471,856 | 12.79 | % | ||||||||||||||||
| Accumulated other comprehensive income (loss) | 1,422,709 | 1,968,846 | (546,137 | ) | -27.74 | % | |||||||||||||||
| Treasury Stock, at cost 95,498 shares | (3,359,729 | ) | (2,757,084 | ) | (602,645 | ) | 21.86 | % | |||||||||||||
| Total shareholders’ equity | 195,603,157 | 178,133,516 | 17,469,641 | 9.81 | % | ||||||||||||||||
| Total Liabilities and Shareholders’ Equity | $ | 1,493,605,658 | $ | 1,442,444,391 | 51,161,267 | 3.55 | % | ||||||||||||||
| MORRIS STATE BANCSHARES, INC. | |||||||||||||||||
| AND SUBSIDIARIES | |||||||||||||||||
| Consolidated Statements of Income | |||||||||||||||||
| For the Years Ended December 31, 2024 and 2023 | |||||||||||||||||
| December 31, | December 31, | ||||||||||||||||
| 2024 | 2023 | Change | % Change | ||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||||
| Interest and Dividend Income: | |||||||||||||||||
| Interest and fees on loans | $ | 72,453,630 | $ | 62,157,217 | $ | 10,296,413 | 16.57 | % | |||||||||
| Interest income on securities | 7,368,157 | 8,196,152 | (827,995 | ) | -10.10 | % | |||||||||||
| Income on federal funds sold | 851,717 | 627,235 | 224,482 | 35.79 | % | ||||||||||||
| Income on time deposits held in other banks | 1,699,224 | 1,214,072 | 485,152 | 39.96 | % | ||||||||||||
| Other interest and dividend income | 183,239 | 255,689 | (72,450 | ) | -28.34 | % | |||||||||||
| Total interest and dividend income | 82,555,967 | 72,450,365 | 10,105,602 | 13.95 | % | ||||||||||||
| Interest Expense: | |||||||||||||||||
| Deposits | 25,981,731 | 18,599,664 | 7,382,067 | 39.69 | % | ||||||||||||
| Interest on other borrowed funds | 1,548,980 | 2,148,019 | (599,039 | ) | -27.89 | % | |||||||||||
| Interest on federal funds purchased | 296 | 842 | (546 | ) | -64.85 | % | |||||||||||
| Total interest expense | 27,531,007 | 20,748,525 | 6,782,482 | 32.69 | % | ||||||||||||
| Net interest income before provision for loan losses | 55,024,960 | 51,701,840 | 3,323,120 | 6.43 | % | ||||||||||||
| Less-provision for loan losses | 556,913 | 450,475 | 106,438 | 23.63 | % | ||||||||||||
| Net interest income after provision for loan losses | 54,468,047 | 51,251,365 | 3,216,682 | 6.28 | % | ||||||||||||
| Noninterest Income: | |||||||||||||||||
| Service charges on deposit accounts | 2,164,988 | 2,143,550 | 21,438 | 1.00 | % | ||||||||||||
| Other service charges, commissions and fees | 1,553,493 | 1,589,747 | (36,254 | ) | -2.28 | % | |||||||||||
| Gain on sales of foreclosed assets | — | — | — | 0.00 | % | ||||||||||||
| Gain on sales and calls of securities | 182 | — | 182 | 0.00 | % | ||||||||||||
| Gain on sale of loans | — | — | — | — | |||||||||||||
| Increase in CSV of life insurance | 417,139 | 378,079 | 39,060 | 10.33 | % | ||||||||||||
| Other income | 644,868 | 606,754 | 38,114 | 6.28 | % | ||||||||||||
| Total noninterest income | 4,780,670 | 4,718,130 | 62,540 | 1.33 | % | ||||||||||||
| Noninterest Expense: | |||||||||||||||||
| Salaries and employee benefits | 19,050,416 | 17,414,685 | 1,635,731 | 9.39 | % | ||||||||||||
| Occupancy and equipment expenses, net | 2,223,832 | 2,250,663 | (26,831 | ) | -1.19 | % | |||||||||||
| (Gain) Loss on sales of foreclosed assets and other real estate | 9,681 | 321,783 | (312,102 | ) | 0.00 | % | |||||||||||
| Loss on sales of premises and equipment | — | 54,269 | (54,269 | ) | -100.00 | % | |||||||||||
| Tax credit amortization expense | 2,920,825 | 2,733,248 | 187,577 | 6.86 | % | ||||||||||||
| Other expenses | 12,040,179 | 11,713,425 | 326,754 | 2.79 | % | ||||||||||||
| Total noninterest expense | 36,244,933 | 34,488,073 | 1,756,860 | 5.09 | % | ||||||||||||
| Income Before Income Taxes | 23,003,784 | 21,481,422 | 1,522,362 | 7.09 | % | ||||||||||||
| Provision for income taxes | 1,199,439 | 2,148,933 | (949,494 | ) | -44.18 | % | |||||||||||
| Net Income | $ | 21,804,345 | $ | 19,332,489 | 2,471,856 | 12.79 | % | ||||||||||
| Earnings per common share: | |||||||||||||||||
| Basic | $ | 2.72 | $ | 1.83 | 0.89 | 48.63 | % | ||||||||||
| Diluted | $ | 2.72 | $ | 1.83 | 0.89 | 48.63 | % | ||||||||||
| Per share amounts for December 31, 2023 has been adjusted to reflect the April 22, 2024 4-for-1 stock dividend. | |||||||||||||||||
| MORRIS STATE BANCSHARES, INC. | ||||||||||||||||||||||||||||||||
| AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
| Selected Financial Information | ||||||||||||||||||||||||||||||||
| Year Ending | Quarter Ended | |||||||||||||||||||||||||||||||
| December 31, | December 31, | December 31, | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2024 | 2024 | 2024 | 2023 | ||||||||||||||||||||||||||
| (Dollars in thousand, except per share data) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||||||||||||
| Per Share Data | ||||||||||||||||||||||||||||||||
| Basic Earnings per Common Share | $ | 2.72 | $ | 1.83 | $ | 0.52 | $ | 0.51 | $ | 0.50 | $ | 0.46 | $ | 0.56 | ||||||||||||||||||
| Diluted Earnings per Common Share | 2.72 | 1.83 | 0.52 | 0.51 | 0.50 | 0.46 | 0.56 | |||||||||||||||||||||||||
| Dividends per Common Share | 0.368 | 0.352 | 0.092 | 0.092 | 0.092 | 0.092 | 0.088 | |||||||||||||||||||||||||
| Book Value per Common Share | 18.46 | 16.84 | 18.46 | 17.99 | 17.56 | 17.20 | 16.84 | |||||||||||||||||||||||||
| Tangible Book Value per Common Share | 17.45 | 15.79 | 17.45 | 16.97 | 16.53 | 16.17 | 15.79 | |||||||||||||||||||||||||
| Average Diluted Shares Outstanding | 10,603,218 | 10,582,377 | 10,596,432 | 10,602,348 | 10,611,811 | 10,582,377 | 10,582,820 | |||||||||||||||||||||||||
| End of Period Common Shares Outstanding | 10,593,225 | 10,582,219 | 10,593,225 | 10,596,345 | 10,605,080 | 10,582,218 | 10,581,052 | |||||||||||||||||||||||||
| Selected Balance Sheet Data (Bank Only) | ||||||||||||||||||||||||||||||||
| Net Loans | $ | 1,101,586 | $ | 1,049,480 | $ | 1,101,586 | $ | 1,048,418 | $ | 1,023,367 | $ | 1,040,412 | $ | 1,063,772 | ||||||||||||||||||
| Non-Interest Bearing Deposits | 347,929 | 315,953 | 347,929 | 336,698 | 339,177 | 346,232 | 339,785 | |||||||||||||||||||||||||
| Interest Bearing Demand Deposits | 260,371 | 286,112 | 260,371 | 249,649 | 243,744 | 260,624 | 270,473 | |||||||||||||||||||||||||
| Savings & Money Market Deposits | 402,641 | 393,139 | 402,641 | 401,234 | 422,048 | 441,911 | 444,170 | |||||||||||||||||||||||||
| Time Deposits | 276,898 | 231,692 | 276,898 | 211,590 | 193,110 | 175,534 | 161,933 | |||||||||||||||||||||||||
| Earnings Summary | ||||||||||||||||||||||||||||||||
| Net Interest Income | 55,025 | 51,701 | 14,496 | 13,998 | 13,569 | 12,963 | 12,934 | |||||||||||||||||||||||||
| Provision for Credit Losses | 557 | 450 | 28 | 252 | 272 | 5 | 242 | |||||||||||||||||||||||||
| Non-Interest Income | 4,781 | 4,718 | 1,076 | 1,106 | 1,392 | 1,208 | 1,098 | |||||||||||||||||||||||||
| Non-Interest Expense | 36,245 | 34,488 | 8,934 | 9,142 | 9,047 | 9,123 | 8,275 | |||||||||||||||||||||||||
| Earnings before Taxes | 23,004 | 21,481 | 6,610 | 5,710 | 5,641 | 5,043 | 5,515 | |||||||||||||||||||||||||
| Income Taxes | 1,199 | 2,149 | 465 | 263 | 319 | 152 | (416 | ) | ||||||||||||||||||||||||
| Net Income | 21,804 | 19,332 | 6,144 | 5,447 | 5,322 | 4,891 | 5,931 | |||||||||||||||||||||||||
| Annualized Performance Ratios (Bank Only) | ||||||||||||||||||||||||||||||||
| Return on Average Assets | 1.68 | % | 1.55 | % | 1.79 | % | 1.65 | % | 1.73 | % | 1.55 | % | 1.84 | % | ||||||||||||||||||
| Return on Average Equity | 12.74 | % | 12.25 | % | 13.69 | % | 12.37 | % | 13.12 | % | 11.74 | % | 14.11 | % | ||||||||||||||||||
| Equity/Assets | 12.84 | % | 13.07 | % | 12.84 | % | 13.23 | % | 13.18 | % | 13.09 | % | 13.07 | % | ||||||||||||||||||
| Cost of Funds | 2.12 | % | 1.57 | % | 2.06 | % | 2.18 | % | 2.16 | % | 2.09 | % | 1.92 | % | ||||||||||||||||||
| Net Interest Margin | 4.06 | % | 3.98 | % | 4.17 | % | 4.10 | % | 4.02 | % | 3.95 | % | 3.97 | % | ||||||||||||||||||
| Efficiency Ratio | 58.27 | % | 57.51 | % | 54.21 | % | 58.90 | % | 58.36 | % | 61.92 | % | 55.17 | % | ||||||||||||||||||
| Efficiency Ratio Net of Tax Credit Amortization Expense | 53.30 | % | 52.99 | % | 49.45 | % | 53.96 | % | 53.40 | % | 56.68 | % | 50.90 | % | ||||||||||||||||||
| Nonperforming Assets to Total Loans and Other Real Estate | 0.41 | % | 0.58 | % | 0.41 | % | 0.46 | % | 0.39 | % | 0.28 | % | 0.58 | % | ||||||||||||||||||
| Past Due and Nonaccural Loans Ratio | 0.72 | % | 0.65 | % | 0.72 | % | 1.01 | % | 0.68 | % | 0.73 | % | 0.65 | % | ||||||||||||||||||
| Net Chargeoffs to Average Loans | 0.04 | % | 0.01 | % | 0.01 | % | 0.03 | % | 0.02 | % | 0.00 | % | 0.33 | % | ||||||||||||||||||
| Shares outstanding and per share amounts for March 31, 2024 and prior quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend. | ||||||||||||||||||||||||||||||||
Source: GlobeNewswire (MIL-OSI)
NEW YORK, Feb. 04, 2025 (GLOBE NEWSWIRE) — D. Boral Capital, a premier Global Investment Bank focused on high-quality mid-market and growth issuers announces its approval as a Limited Underwriting Member of the Nasdaq Stock Market, one of the largest and most active securities exchanges in the world. As of February 3, 2025, D. Boral Capital was officially accepted, and this approval enables it to act as a principal lead underwriter under Nasdaq Listing Rule 5210(m).
D. Boral Capital’s membership in Nasdaq represents a significant milestone in the firm’s growth and evolution. As a lead underwriter for IPOs, this achievement enhances our ability to execute high-profile investment banking transactions and solidifies its position for continued growth and influence within the financial services sector.
David W. Boral, Founder & CEO, states: “D. Boral Capital’s joining Nasdaq marks a significant milestone for the firm, highlighting steadfast dedication to providing outstanding services to our clients. This achievement grants us access to a platform renowned for its innovation, efficiency, and global presence—principles that deliver unmatched insight and value to both our client issuers and investors.”
D. Boral Capital’s Nasdaq membership follows a period of significant growth, further reinforcing the firm’s dedication to ongoing innovation and excellence. D. Boral Capital looks forward to leveraging this membership to expand our capabilities and provide even greater value for our clients.
About D. Boral Capital
D. Boral Capital is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the UAE, and Latin America.
A recognized leader on Wall Street, D. Boral Capital has successfully aggregated over $23 billion in capital since its inception in 2020, executing approximately 300 transactions across a broad range of investment banking products.
Safe Harbor Statement
This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.
Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.
The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Contact Us:
D. Boral Capital
590 Madison Avenue
New York, NY 10022
Main Phone: +1 (212) 970-5150
www.dboralcapital.com
info@dboralcapital.com
Source: GlobeNewswire (MIL-OSI)
NEW YORK and LONDON, Feb. 04, 2025 (GLOBE NEWSWIRE) — A small boutique investment banking firm based in Canada consistently punches above its weight, competing against big firms like Bank of America, Citibank, and Goldman Sachs to win M&A deals in the supply chain sector.
In the latest episode of the A-Game podcast, Peter Stefanovich, President of Left Lane Associates, describes how Left Lane’s deep knowledge and wealth of experience in the supply chain has turned them into the advisor of choice in the sector. Left Lane has been doing more deals in the supply chain sector than any other advisory firm in North America, based on deal volume.
“Somebody like a Goldman Sachs, they are a behemoth, we look up to them, they’re obviously the gold standard. The difference is that the majority of our professionals have lived and breathed transportation. Some of them are third or fourth generation transportation company owners who bought and sold businesses,” says Stefanovich during the podcast conversation with Alok Misra, CEO of Navatar.
With the knowledge and experience gained from its time spent dedicated to the sector, Left Lane’s team has also developed deep connections with supply chain business owners, executives, and industry-leading associations. In an extensive transaction process, these connections to the industry can play a vital role in resolving issues and negotiating favorable terms for a client.
Don’t miss this opportunity to learn from industry leaders. The entire episode can be viewed here:
https://www.youtube.com/watch?v=n8U1emTtfgs
About Navatar
Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, enables investment professionals make informed decisions based on superior proprietary intelligence. Navatar is used by hundreds of firms including private equity funds, M&A boutiques and bulge brackets, fund of funds, multi-asset credit, hedge funds, real estate funds, venture capital firms, corporate development groups, family offices, private placement and other financial services companies. For more information, visit www.navatargroup.com.
About Left Lane Associates
Left Lane Associates is North America’s premier supply chain M&A experts that companies trust to drive their growth and exit plans. Left Lane Associates’ team builds personal relationships through supply chain thought leadership and experience while delivering industry-specific deal expertise to maximize value for its clients, supported by its proprietary processes and research. For more information, visit www.leftlaneassociates.ca.
Sales Team
Navatar
sales@navatargroup.com
Source: Central Bank of Bahrain
Within minutes of the booking opening time CBB: Appointments for the second and final batch of Silver Commemorative Coin minted on the occasion of the Silver Jubilee of His Majesty King Hamad bin Isa Al Khalifa, marking 25 years of His Majesty’s reign fully booked
Source: GlobeNewswire (MIL-OSI)
BROOKFIELD, Wis., Feb. 04, 2025 (GLOBE NEWSWIRE) — The Board of Directors of CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the parent company of CIBM Bank, has authorized a 2025 share repurchase program for up to $1 million worth of the Company’s outstanding common stock. This marks the Company’s first common stock repurchase program since completing the repurchase of all Company-issued preferred stock in 2024.
Repurchases are expected to commence in the first quarter of 2025. Common stock may be repurchased in the open market or through privately negotiated transactions. Common share repurchases will be made at the Company’s discretion, with the timing and amount determined by a number of factors, including, the availability of common shares, general market conditions, trading prices, economic conditions, regulatory requirements, and the Company’s financial performance. All stock purchases will be made in accordance with applicable legal requirements. The repurchase program does not obligate the Company to purchase a specific amount of common stock within any particular time frame, and there is no guarantee that any shares will be repurchased upon criteria established by the Company. The Board of Directors will evaluate repurchase conditions at least quarterly to determine the terms and conditions for repurchase activity.
“Having just completed our very successful preferred stock repurchase plan in October, this common stock repurchase program will build off of the momentum of 2024 as we continue to expand meaningful opportunities for shareholder value,” stated Brian Chaffin, President and CEO. “We recognize the important opportunity that current market conditions afford for stock repurchase activity, and the benefits it provides to our shareholders.”
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices and has mortgage loan officers and/or offices in nine states. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
Source: European Central Bank
4 February 2025
Bank interest rates on new loans to, and deposits from, euro area corporations
(percentages per annum)
Data for cost of borrowing and deposit interest rates for corporations (Chart 1)
The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in December 2024. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months decreased by 11 basis points to 4.31%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year fell by 14 basis points to 4.06%. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years decreased by 6 basis points to 3.42%, mainly driven by the weight effect. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged fell by 17 basis points to 4.63%.
As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year fell by 13 basis points to 2.80% in December 2024. The interest rate on overnight deposits from corporations fell by 4 basis points to 0.77%.
The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 29 basis points to 4.63%.
Bank interest rates for corporations
i.r.f. = initial rate fixation
* For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
Data for bank interest rates for corporations (Table 1)
Bank interest rates on new loans to, and deposits from, euro area households
Data for cost of borrowing and deposit interest rate for households (Chart 2)
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, decreased in December 2024. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 12 basis points to 4.15%. The rate on housing loans with an initial rate fixation period of over one and up to five years fell by 5 basis points to 3.57%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years decreased by 7 basis points to 3.36%. The rate on housing loans with an initial rate fixation period of over ten years fell by 7 basis points to 3.09%. In the same period the interest rate on new loans to households for consumption decreased by 22 basis points to 7.36%.
As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year decreased by 16 basis points to 2.45%. The rate on deposits redeemable at three months’ notice stayed constant at 1.74%. The interest rate on overnight deposits from households showed no change at 0.35%.
Bank interest rates for households
i.r.f. = initial rate fixation
* For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories; deposits placed by households and corporations are allocated to the household sector. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
** For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
Data for bank interest rates for households (Table 2)
The data in Tables 1 and 2 can be visualised for individual euro area countries on the bank interest rate statistics dashboard. Additionally, tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB Data Portal. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from ECB Data Portal. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.
For media queries, please contact Nicos Keranis, tel.: +49 69 1344 7806
Source: European Parliament
Question for written answer E-000275/2025
to the Commission
Rule 144
Paolo Inselvini (ECR), Alessandro Ciriani (ECR), Carlo Fidanza (ECR), Nicola Procaccini (ECR), Ruggero Razza (ECR), Michele Picaro (ECR), Alberico Gambino (ECR), Francesco Ventola (ECR), Sergio Berlato (ECR), Elena Donazzan (ECR), Daniele Polato (ECR), Francesco Torselli (ECR), Marco Squarta (ECR), Carlo Ciccioli (ECR), Stefano Cavedagna (ECR)
The former European Commissioner for the Internal Market, Thierry Breton, has recently taken up a consultative role on Bank of America’s global advisory council. His appointment was approved by the Commission which, in spite of the requisite two-year waiting period for former commissioners, appeared to deem it consistent with EU ethics rules.
The case is a concerning one, not least given the sensitive nature of Mr Breton’s Commission portfolio, his possible impact on EU policies, the influence that some major financial institutions may have wielded over the Commission in the past, and the obligation incumbent on the EU to uphold transparency and integrity.
In view of the above:
Submitted: 22.1.2025
Source: European Parliament
Question for written answer E-000255/2025
to the Commission
Rule 144
Virginie Joron (PfE)
According to reports in the Le Figaro newspaper[1], the Commission has given its approval to former Commissioner (2019-2024) Thierry Breton to join Bank of America’s global advisory council. He will perform this role three days a year (and will not be a member of staff or receive a salary[2]).
It is highly symbolic, as Thierry Breton was one of the Commission’s few champions of European strategic autonomy. One can hardly imagine General de Gaulle wanting to work for Bank of America.
Thierry Breton is the former CEO of French digital and security giant Atos, which is currently in deep trouble. Atos says it received more than EUR 12 million from the Commission in 2023[3] and a cyberdefence contract in 2024[4].
In 2021, the Commission imposed a EUR 371 million fine on the Bank of America and a number of banks for forming a cartel on EU government bonds. Bank of America’s fine was eventually waived, however[5]. Bank of America bought and sold millions of shares in Atos in 2024[6].
Submitted: 21.1.2025
Source: European Banking Authority
The European Banking Authority (EBA) today published its final draft Implementing Technical Standards (ITS) on reporting of data on charges for credit transfers and payments accounts, and shares of rejected transactions. The ITS deliver on the mandate in the Instant Payment Regulation (IPR) amending the SEPA Regulation, and aim at standardising reporting from banks, payment institutions and e-money institutions (i.e. Payment Service Providers – PSPs) to their National Competent Authorities. The reported data will help to ensure consumers benefit from access to instant credit transfers, and that the latter are no longer more expensive than regular credit transfers. Following its public consultation, the EBA has postponed the first harmonised reporting from PSPs by 12 months, from April 2025 to April 2026.
The ITS specify uniform reporting templates, instructions, and methodology for the purpose of reporting of charges for credit transfers, payment accounts and shares of rejected transactions due to the application of the EU sanctions regime.
In developing the ITS, the EBA has sought to find the appropriate balance between the competing aims of obtaining the data required for a robust analysis of the impact of the amended SEPA Regulation on the pricing of payment accounts and credit transfers, and the shares of rejected transactions, on the one hand, and the need to avoid an excessive reporting burden for the industry on the other.
The ITS will also support the European Commission in monitoring whether consumers benefit from access to instant credit transfers, and that instant credit transfers are not more expensive than regular credit transfers.
As part of reducing the burden on the industry, and in response to comments received to the consultation, the draft final ITS postpone the deadline set in the amended SEPA Regulation for the first harmonised reporting by 12 months, to April 2026, and the subsequent reporting from the National Competent Authorities to the EBA and the European Commission to October 2026. The additional 12 months will provide sufficient time for the European Commission to adopt the EBA’s final draft ITS, and for the EBA to develop the taxonomy, datapoint model and validation rules, which the industry then needs to implement. Until the first reporting, National Competent Authorities should deprioritise collecting data from the PSPs, discourage institutions from providing unharmonised reporting prior to the availability of the EBA’s taxonomy, datapoint model and validation rules, and not take enforcement action in relation to PSPs that do not report in 2025.
Article 15(5) of the SEPA Regulation stipulates that “The EBA shall develop draft implementing technical standards to specify uniform reporting templates, instructions and methodology on how to use those reporting templates for the purposes of reporting as referred to in paragraph 3.
Source: United Kingdom – Government Statements
UKEF’s support helping Maxflow gain access to capital through its General Export Facility (GEF) will see the business expand into new export markets.
Ryan Wylie, Managing Director of Maxflow, and Leona McNicholl, Senior Relationship Manager at Ulster Bank
Maxflow supplies Northern Ireland-made industrial pressure washers, generators, parts and pressure-washing accessories, and is aiming to reach new export markets.
Maxflow Power Products Limited is the first company in Northern Ireland that has been awarded UKEF-backed facility from Ulster Bank.
Maxflow, a Northern Ireland-based manufacturer of industrial pressure washers and power products, is accelerating its growth with a finance package issued by Ulster Bank and guaranteed by UK Export Finance (UKEF), the government’s export credit agency. This partnership supports Maxflow to expand its operations, enter new export markets, and grow its customer base.
With over 25 years of industry experience, Maxflow’s ability to grow as a business has been furthered by UKEF and Ulster Bank’s financial support which also recently included a multi-million pound support package for a Management Buy Out (MBO).
This has enabled better management of cash flow-related challenges, often associated with scaling operations and meeting customer demand. With this support, Maxflow can maintain high stock levels, ensuring consistent availability for its customers and reinforcing its reputation as a reliable supplier in a competitive market.
With significant revenue coming from exports, entering new export markets presents exciting new opportunities for growth.
This is the first time that Ulster Bank and UKEF have worked in partnership to issue a trade loan facility for a Northern Ireland business. The loan facility was guaranteed through UKEF’s General Export Facility (GEF), a product which helps SME exporters to access more working capital and scale up their operations. Through the GEF scheme, SMEs accessed over £576 million in working capital loans in the last financial year.
We are proud to support Maxflow as they build on their success. UKEF’s collaboration with Ulster Bank in this working capital finance deal is a prime example of how our General Export Facility can boost the confidence of SMEs in Northern Ireland to achieve their growth ambitions and venture into new export markets.
We couldn’t be more excited about Maxflow’s growth. Our commitment to exceptional customer service is at the heart of everything we do. We pride ourselves on being a reliable, go-to partner, ensuring our customers can always count on us to deliver exactly what they need, when they need it.
Expanding into new geographical markets is a transformative step for Maxflow, and the support from Ulster Bank and UK Export Finance has been crucial in helping us seize this opportunity. The ability to manage cash flow effectively while maintaining high stock levels has allowed us to meet the demands of this new market and position ourselves for sustained growth.
Maxflow’s expansion also includes significant investment in infrastructure. A new factory is currently under construction, with phase one expected to be completed by 2025. This facility will consolidate operations, streamline logistics, and enhance efficiency, supporting Maxflow’s long-term growth plans.
Maxflow is creating new job opportunities in Cookstown, Northern Ireland through investing in a new factory. With a team of 25 employees and ongoing expansion, the company remains dedicated to being a market leader in industrial power product solutions.
We’re proud to support Maxflow as they take this exciting step to expand their operations into new export markets. This milestone highlights the importance of providing businesses with the right financial tools to achieve their growth ambitions. Ulster Bank remains committed to supporting Northern Ireland’s businesses, helping them seize new opportunities and grow and this is very evident in the level of support provided to Maxflow in their growth plans through working capital facilities as well as supporting the recent MBO.
Maxflow’s story showcases how strategic financial partnerships, infrastructure investments, and a focus on customer-centric operations can drive significant growth. As the company continues to expand, it remains committed to its vision of being a market leader in industrial power product solutions.
Media enquiries:
Published 4 February 2025
Source: Panasonic
Headline: Panasonic Holdings Reports Consolidated Financial Results for Nine Months Ended December 31, 2024
The content in this website is accurate at the time of publication but may be subject to change without notice.Please note therefore that these documents may not always contain the most up-to-date information.Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.
Source: Samsung
Samsung Electronics Co., Ltd. today announced its next generation of commercial displays that feature AI-powered solutions at Integrated Systems Europe (ISE) 2025.
The Samsung Color E-Paper delivers new levels of energy efficiency, while the AI features in SmartThings Pro and the Interactive Display increase the intelligence, control and usability of business-focused screens. In addition, the supersized 115” Smart Signage screen brings a new level of immersive visuals to life. All of these innovative solutions are being displayed at ISE, in booth 3F500
“For commercial displays, it is crucial to address the market’s demand for energy efficiency and simple device management, while at the same time meeting the public’s desire for immersive experiences,” said Hoon Chung, Executive Vice President of Visual Display Business at Samsung Electronics. “Our latest innovations, including the near-zero power Samsung Color E-Paper and advanced AI capabilities brought by all the models, showcase our commitment to pioneering new markets and providing transformative business solutions worldwide.”
Samsung Color E-Paper Brings Greater Energy Efficiency and Flexibility
Samsung Color E-Paper (EMDX model) redefines energy-efficient digital signage by combining digital ink with innovative full-color e-paper technology. This ultra-low power, lightweight and slim display serves as an eco-conscious alternative to traditional analog and paper-based promotional materials while delivering the high visibility and functionality that businesses demand.
Leveraging advanced digital ink technology, the EMDX operates at 0.00W power when displaying static images, while consuming significantly less energy during image transitions compared to traditional digital signage, resulting in substantial cost savings.1 The ultra-slim and lightweight design ensures effortless installation, while the range of sizes — 13″ (1,600 x 1,200); 25″ (3,200 x 1,800); 32″ QHD (2,560 x 1,440); and an outdoor version that is 75″ 5K (5,120 x 2,880) — are optimized to cater to diverse business needs. The Color E-Paper also includes a rechargeable 5000mAh battery, two USB-C ports for charging and data transfer, 8GB of memory, and Wi-Fi and Bluetooth support for enhanced connectivity.
For seamless device management, a dedicated mobile app2 allows users to remotely operate displays, schedule wake-up and sleep times, and even set playlists with predefined intervals. Samsung VXT (Visual eXperience Transformation) further simplifies content operation with a feature exclusive to the Samsung Color E-Paper. A specialized algorithm optimizes content visibility for the display and includes a preview function to ensure content and color are accurate before deployment.
Content management is made simple through the mobile app and Samsung VXT, with businesses also able to use their own solutions through Tizen Enterprise APIs, which enable easy integration with existing management systems.
Moreover, as part of Samsung’s ongoing commitment to a sustainable future, the cover of the Color E-Paper is made from over 50% recycled plastics, while its packaging is made entirely from paper.
“Building a sustainable future means embedding environmentally conscious innovation into every Samsung product and solution,” said David Phelps, Head of Display Division, Samsung Electronics America. “With Color E-Paper, businesses can enhance customer engagement while reducing their energy footprint. As we unveil our latest display technologies at ISE, we are demonstrating new possibilities for managing, controlling and delivering dynamic digital experiences across a range of industry environments.”
AI Features Bring New Intelligence and Control to SmartThings Pro and Interactive Display
In 2025, SmartThings Pro, Samsung’s hyper-connected business-to-business (B2B) management platform, brings enhanced AI and automation capabilities to improve operational efficiency.3
The platform offers Interactive View, which uses AI to convert 2D floor plans into 3D images of business premises. This 3D visualization makes it easier to understand and navigate spaces intuitively, enabling business operators to manage connected devices with ease.
SmartThings Pro also features advanced automation controls, allowing businesses to adjust settings — such as power, volume and brightness — based on pre-set conditions like ambient lighting, room occupancy and store operating hours. These automated adjustments save time while ensuring devices are optimized for their environments. When using SmartThings Pro on displays, switching between content streams is equally seamless. This is because users are able to effortlessly change channels or input sources for a streamlined experience.4
Additionally, Samsung Smart Signage features CryptoCore, a FIPS 140-3-certified encryption module that safeguards sensitive authentication data for IoT connections and ensures that these connections between devices remain secure.5
At ISE, Samsung is also showcasing the 2025 Interactive Display (WAFX-P model), powered by Android OS 15 and featuring new AI capabilities that enhance education and collaboration opportunities.
The WAFX-P model provides AI capabilities, featuring Circle to Search, which enables users to easily search for images or translate text directly on-screen, and AI Summary, which automatically generates concise recaps of lectures or meetings.
Source: GlobeNewswire (MIL-OSI)
BNP PARIBAS ANNOUNCES THE IMPLEMENTATION OF A SEMI-ANNNUAL INTERIM DIVIDEND PAYMENT STARTING IN 2025
PRESS RELEASE
Paris, 4 February 2025
On 3 February 2025, BNP Paribas’ Board of Directors, chaired by Jean Lemierre, approved the principle of a semi-annual interim dividend starting in the 2025 financial year, which would be paid out in late September.
Each interim dividend will amount to 50% of the net earnings per share of the first
half-year, in accordance with BNP Paribas’ cash payout distribution policy.
The first interim dividend related to the 2025 financial statements would be paid on 30 September 2025 and calculated on the basis of 50% of the net earnings per share of the first half of 2025.
As a result of the introduction of a semi-annual interim dividend payment, the return to the shareholder in 2025 will comprise:
(i) the full dividend paid out in cash on 2024 earnings, subject to approval by the General Meeting of shareholders planned on 13 May 2025;
(ii) the share buyback programme set out in the Group distribution policy for the 2024 financial year subject to the usual conditions, including European Central Bank authorisation; and
(iii) the interim dividend on 2025 financial year, which would be decided by the Board of Directors in an amount calculated and paid based on the aforementioned description.
Press contact
Hacina HABCHI – hacina.habchi@bnpparibas.com – +33 (0)7 61 97 65 20
Sandrine Romano – sandrine.romano@bnpparibas.com – +33 (0)6 71 18 23 05
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
Attachment
Source: GlobeNewswire (MIL-OSI)
eQ Plc financial statements release
4 February 2025 at 8:00 AM
January to December 2024 in brief
October to December 2024 in brief
| Key ratios | 1-12/24 | 1-12/23 | Change | 10-12/24 | 10-12/23 | Change |
| Net revenue, Group, MEUR | 65,6 | 70,9 | -7 % | 14,8 | 18,5 | -20 % |
| Net revenue, Asset Management, MEUR | 58,5 | 66,9 | -13 % | 13,0 | 16,6 | -22 % |
| Net revenue, Corporate Finance, MEUR | 5,3 | 3,9 | 34 % | 1,0 | 2,7 | -63% |
| Net revenue, Investments, MEUR | 1,1 | -0,6 | 287 % | 0,6 | -1,0 | 164 % |
| Net revenue, Group administration and eliminations | ||||||
| Net revenue, MEUR | 0,8 | 0,6 | 0,1 | 0,2 | ||
| Operating profit, Group, MEUR | 34,5 | 39,7 | -13 % | 6,9 | 9,8 | -29% |
| Operating profit, Asset Management, MEUR | 33,7 | 41,4 | -19 % | 6,9 | 9,7 | -29% |
| Operating profit, Corporate Finance, MEUR | 1,5 | 0,7 | 125 % | 0,0 | 1,6 | -97 % |
| Operating profit, Investments, MEUR | 1,1 | -0,6 | 287 % | 0,6 | -1,0 | 164 % |
| Operating profit, Group administration, MEUR | -1,8 | -1,7 | -0,6 | -0,5 | ||
| Profit for the period, MEUR | 27,4 | 31,5 | -13 % | 5,5 | 7,8 | -29% |
| Key ratios | 1-12/24 | 1-12/23 | Change | 10-12/24 | 10-12/23 | Change |
| Earnings per share, EUR | 0,66 | 0,78 | -14 % | 0,13 | 0,19 | -30% |
| Proposed dividend per share, EUR | 0,66 | 0,80 | -18% | |||
| Equity per share, EUR | 1,77 | 1,85 | -4 % | 1,77 | 1,85 | -4 % |
| Cost/income ratio, Group, % | 47,4 | 43,8 | 8 % | 53,3 | 47,1 | 13 % |
| Liquid assets, MEUR | 17,0 | 33,4 | -49 % | 17,0 | 33,4 | -49 % |
| Private equity and real estate fund investments, MEUR | 17,0 | 16,6 | 3 % | 17,0 | 16,6 | 3 % |
| Interest-bearing loans, MEUR | 0,0 | 0,0 | 0 % | 0,0 | 0,0 | 0 % |
| Assets under management excluding reporting services, EUR billion | 10,4 | 10,0 | 4 % | 10,4 | 10,0 | 4 % |
| Assets under management, EUR billion | 13,4 | 12,9 | 4 % | 13,4 | 12,9 | 4 % |
Acting CEO Janne Larma
The global economy has been rather sluggish during 2024, and economic growth in the euro area in particular has been modest. During the year, the European Central Bank cut its key interest and deposit rates four times, with the deposit rate standing at 3.0% at the end of the year. Europe’s core inflation and inflation outlook have fallen, and the European economy is expected to recover rather slowly, leading markets to expect deposit rates to fall to around 2% in 2025. On the other hand, in the US, the economy is growing and performing well, and inflation is not expected to fall significantly. For these reasons, interest rates in the US are significantly higher than in Europe.
Policy easements made by central banks and economic growth in the US in particular set the stage for a strong stock market in 2024. The strong rise in the US (33%) boosted the indices tracking global developed markets (27%). The positive performance of emerging markets (15%) was boosted by the China’s rise in the second half of the year. In Europe, stock price indices rose less (9%), and Nordic share prices fell slightly.
In the interest rate markets, returns were positive, both for short-term interest rates and long-term interest rates. High Yield Corporate Bonds were the best performers last year, returning over eight per cent.
eQ’s result for the financial period fell
The net revenue of the Group during the period under review was EUR 65.6 million and the operating profit was EUR 34.5 million. Net revenue fell by 7% and operating profit by 13% from the previous year.
eQ Asset Management’s profit fell, assets under management increased
During the period under review, the net revenue of the Asset Management segment fell by 13 per cent to EUR 58.5 million. The decrease in net revenue, EUR 8.4 million, is explained by real estate asset management’s lower management fees compared to the previous year. In contrast, management fee income from both traditional and Private Equity asset management increased from last year, by 6% for traditional and 8% for Private Equity. During the review period, eQ Asset Management’s operating profit fell by 19 per cent to EUR 33.7 million. In addition to the above-mentioned factors, the decrease in operating profit was affected by a write-down of EUR 1.8 million on the accrued performance fee of one Private Equity fund.
As for sales, the year 2024 was good in private equity asset management. In 2024, Private Equity funds were raised to the eQ PE XVI North fund investing in Northern Europe and the eQ PE SF V and eQ VC II funds. We raised over EUR 360 million in these three funds, which is an excellent result. For traditional asset management, assets under management increased by almost EUR 300 million, or 8%, compared to the end of 2023. In real estate asset management, the challenging market situation contributed to a decrease of over EUR 200 million in assets under management.
eQ focuses more and more on sustainability every year and it is a key part of our investment activities. We received excellent marks, including in the PRI assessment, where we outperformed our peer group and received full five stars in five sections. In addition, in the GRESB survey of the real estate sector, both our real estate funds performed better than both the overall respondents and the eQ peer group averages. eQ Community Properties even came out on top of its peer group.
eQ Asset Management usage rose in the 2024 SFR survey and 68% of the 100 or so largest institutional investors in Finland use eQ’s services. In alternative investments – real estate and private equity in eQ’s case – eQ was by far the most used asset manager. eQ’s quality rating declined in 2024, which the study attributes primarily to weaker investment returns in the real estate segment. Our goal is to rise back to the forefront of quality.
The Financial Supervisory Authority (FIN-FSA) conducted an inspection of eQ Fund Management Company, and we received the inspection report last year. The FIN-FSA’s job description includes conducting inspections at intervals and the inspection was part of FIN-FSA’s normal operations. It had been more than ten years since eQ’s previous inspection. The report raised observations that we have reviewed in good cooperation with FIN-FSA and all necessary actions have been implemented over the last year. I dare to say that inspections of this type are useful for both operations and for cooperation with authorities.
Advium’s profit grew
Advium managed to increase its net revenue, despite a decrease in the number of mergers and acquisitions in Finland compared to the previous year and very low activity in the real estate market. During the period under review, Advium’s net revenue totalled EUR 5.3 million (EUR 3.9 million). Operating profit was EUR 1.5 million (EUR 0.7 million).
During 2024, Advium acted as advisor in four published M&A transactions and one published real estate transaction. Two of these were public offers, when offers were made for Purmo Group and Innofactor. Advium also advised Aspo Plc on its minority investment in OP Infra Suomi and Forcit on its agreement to acquire part of Orica’s Finnish and Swedish businesses.
Investment profit and cash flow increased
The operating profit of the Investments segment rose from last year and was EUR 1.1 million (EUR -0.6 million). Net cash flow was EUR 0.8 million (EUR -0.1 million). The balance sheet value of the private equity and real estate fund investments at year end was EUR 17.0 million (EUR 16.6 million on 31 Dec. 2023). During the year, eQ Plc made a USD 1 million investment commitment in the eQ PE XVI fund.
Changes in eQ’s management
Mikko Koskimies, CEO of eQ Plc and Managing Director of eQ Asset Management Ltd, left these positions at the end of October 2024 due to a serious illness. Koskimies passed away in November. Mikko was a valued colleague and a dear friend. We will all miss Mikko.
Tero Estovirta, deputy Managing Director of eQ Asset Management Ltd, was appointed Managing Director of eQ Asset Management Ltd and member of the eQ Group’s management team at the end of October.
During the review period, Jacob af Forselles was appointed as the Managing Director of Advium Corporate Finance Ltd and as a member to eQ Group’s Management Team. He started in his position at the beginning of August.
Outlook
The difficult market situation in the Finnish real estate market continued in 2024. Our assessment is that the real estate market levelled off towards the end of the year and that yield requirements generally stopped rising in the final quarter of the year. However, market liquidity remained at a very low level. The real estate market in general remains challenging. In several Finnish open-ended real estate funds, redemptions have not been completed on time and investors have had to wait for their money. Funds for redemption payments are mainly raised by selling properties and, as the transaction market remains quiet, redemption payments have had to be postponed. Lower interest rates and economic growth are having a positive impact on the real estate market. The market expects interest rates in Europe to continue to fall and the economy to gradually start to recover. If these estimates materialise, we expect 2025 to be a better year for the real estate market than 2024.
Due to the current situation, eQ’s real estate fund management fees are expected to decrease in 2025 compared to the previous year.
Sales of eQ’s Private Equity products has continued to be strong, and we believe that Finnish asset management clients will increase the Private Equity allocations in their portfolios in the coming years. We estimate that eQ’s Private Equity fees will increase in 2025 compared to last year. The exit market for private equity funds was quieter than expected in 2024. As a result, the timing of Private Equity performance fees accruing to eQ has moved forward. Performance fees are expected to increase from 2026 onwards, with a number of private equity products expected to move into the performance fee phase.
In traditional asset management, we believe we have a good market position. The development of fees is largely dependent on market development.
***
eQ’s financial statements release 1 Jan. to 31 Dec. 2024 is enclosed to this release and it is also available on the company website at www.eQ.fi.
eQ Plc
Additional information:
Janne Larma, acting CEO, tel. +358 9 6817 8920
Antti Lyytikäinen, CFO, tel. +358 9 6817 8741
Distribution: Nasdaq Helsinki, www.eQ.fi, media
eQ Group is a group of companies that concentrates on asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and private individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. More information about the Group is available on our website www.eQ.fi.
Attachment
Source: Asia Development Bank
Economic corridor development in South Asia enhances trade, industrialization, and connectivity while addressing infrastructure gaps and business constraints. By creating jobs, promoting regional integration, and improving manufacturing competitiveness, corridors contribute to sustainable economic growth and poverty reduction.
Economic corridors are drivers of economic growth and structural transformation and are integral to the pursuit of regional development and economic integration. They not only enhance connectivity and trade but also foster industrialization, job creation, and balanced regional growth.
In South Asia, particularly in Bangladesh, Bhutan, Nepal, India, and Sri Lanka the development of economic corridors presents a promising pathway to unlock economic potential, strengthen regional ties, and promote sustainable development.
Economic corridor development efforts aim to improve a country’s manufacturing potential by addressing key constraints such as cumbersome business processes, infrastructure bottlenecks, and low competitiveness of domestic manufacturing leading to low manufacturing jobs and less integration with global value chains.
An economic corridor is a network of infrastructure projects designed to stimulate economic development across and between regions. These corridors typically include transportation routes, such as highways, railways, and ports, as well as industrial hubs and trade facilitation zones. The aim is to enhance connectivity, reduce trade barriers, and promote investment, ultimately spurring economic activities and job creation.
India, with its vast and diverse economy, plays a crucial role in the development of economic corridors in Bangladesh, Bhutan, Nepal and Sri Lanka. The country’s strategic initiatives, such as the NICDP and the Prime Minister Gati Shakti (PM-GS) National Master Plan, aim to enhance connectivity and promote economic integration.
In Bangladesh, the development of economic corridors is focused on enhancing infrastructure and trade logistics. Notable examples include the South West Economic Corridor, spanning from Khulna and Jessore to Dhaka, and the North East Economic Corridor, connecting Dhaka to Sylhet. These corridors are designed to improve the country’s trade infrastructure, diversify production networks, and integrate with regional and global value chains, all the while stimulating economic activities in less developed areas.
Bhutan has planned to develop Gelephu Mindfulness City which will be the biggest economic hub of Bhutan attracting foreign investment and integrating with the rest of South Asia and Southeast Asia. Multimodal connectivity of Gelephu with India and Bangladesh will be a critical factor of its success in future.
Economic corridors drive regional integration, boost industrialization, and create jobs by enhancing infrastructure, reducing trade barriers, and fostering economic growth across South Asia.
India’s efforts in industrial corridor development aim to boost the manufacturing sector by addressing key constraints like cumbersome business processes and infrastructure bottlenecks.
The National Industrial Corridor Development Program, in collaboration with the Asian Development Bank, focuses on creating a conducive environment for manufacturing, thereby enhancing sectoral growth. The Prime Minister Gati Shakti (PM-GS) National Master Plan further aims to enhance connectivity and promote economic integration across the country.
Nepal, a landlocked country with challenging terrain, faces unique obstacles in its quest for economic development. The development of economic corridors, such as the East-West Highway and the North-South Corridors, is crucial for improving connectivity, reducing trade barriers, and fostering regional integration. These corridors aim to link Nepal more effectively with its neighbors, promoting economic activities and development in the region.
Sri Lanka’s Colombo-Trincomalee Economic Corridor (CTEC) connects the Western Region including Colombo Port with the East Coast to Trincomalee Port, aims to facilitate economic growth through a network of export zones and free trade zones. This infrastructure is expected to boost trade, attract investments, and promote balanced regional growth.
Economic corridor development involves a building block approach of construction and enhancement of transport networks, energy grids, and trade facilitation measures that connect key economic hubs within and across borders.
The transport and trade corridors are designed to streamline the movement of goods, services, and people, thereby reducing costs, increasing efficiency, and boosting competitiveness. The initiative also emphasizes the importance of aligning national policies and regulations to ensure seamless operations and to maximize the benefits of regional integration.
Gradually these corridors will be transformed into economic corridors by addressing both hardware and software aspects of development. Effective corridor development also entails creating a conducive environment for businesses to thrive and for economies to grow.
One of the key objectives of economic corridor development is job creation. This is a critical development objective for the countries in South Asia. The creation of formal jobs through the expansion of the manufacturing sector directly contributes to poverty alleviation.
By facilitating the formalization of labor and incentivizing firms to adopt modern technology, corridor development helps to increase productivity and wages, thereby improving the standard of living for workers. Government actions to provide gender-inclusive housing, upgrade the skills of female workers, and appoint female board members in industrial node boards, further enhance economic corridors’ impact on poverty reduction and gender equality.
Economic corridors are pivotal in shaping South Asia’s economic future by enhancing trade, industrialization, and regional cooperation. Continued investment, policy alignment, and inclusive development strategies will be essential in maximizing their benefits and ensuring sustainable, equitable growth.
Source: Reserve Bank of India
Ajit Prasad Press Release: 2024-2025/2072 |
Source: Allens Insights
As stakeholder expectations on Environment, Social and Governance (ESG) issues continue to evolve, we are seeing a movement build from voluntary standards to domestic regulation. Concurrently, the opposition to ESG-related action is adding to uncertainty and complexity when it comes to legal compliance and alignment with global high watermarks.
In this Insight, we take stock of the ESG journey and reflect on the trends to look out for in 2025 and beyond.
Boards; general counsel and legal; sustainability; regulatory and compliance; cultural heritage and communities teams; external affairs.
New ESG legislation, an uptick in regulatory enforcement and the rising expectations of investors and other stakeholders are elevating ESG issues to the top of boardroom agendas.
In 2024, we saw the multi-jurisdictional trend of new ESG due diligence and reporting laws continue in places like the EU and California, adding to recent regulatory developments in Australia, the US, the UK, Canada and elsewhere. Australian companies have been responding, even if not directly in scope, as these new legal requirements flow through from customers and clients.
Combating alleged ‘greenwashing’ and ‘bluewashing’—being claims that environmental and social disclosures are false, misleading or have no reasonable basis—has become an enforcement priority for Australia’s corporate regulators. In November 2024, the Australian Securities and Investments Commission (ASIC) confirmed greenwashing and misleading conduct involving ESG claims would remain an enforcement priority in 2025.
Activists and strategic litigants have deployed strategies in and out of the courtroom seeking to influence corporate behaviour. While the majority of cases have commenced in the US, Australia consistently comes a close second, with cases increasingly focusing on the intersection between the environment and human rights, including the rights of First Nations peoples.
Alongside these developments, the backlash against ESG action increased in 2024 and was a key issue during elections in the US and across the EU. In the US, laws have been passed restricting ESG-related investment decisions, which have impacted investment flows, while legal challenges have delayed the implementation of the US Securities and Exchange Commission’s climate-related financial disclosure rules. Some financial institutions and asset managers are moving away from membership of voluntary ESG commitments, such as the Net Zero Asset Managers and Net Zero Banking Alliance initiatives.1
The conversation around deregulation is already becoming more pronounced in 2025, in light of recent political developments and as ESG regulatory changes take effect.
Upon commencing his second term in office on 20 January 2025, President Trump’s executive orders have so far included:
His nominations to environmental protection and corporate regulatory agencies may foreshadow a further rollback of measures on:
The wave of new executive orders has already sought to wind back the Biden Administration’s ESG policies (including those encouraging the uptake of electric vehicles).
In the EU, the outcome of a new omnibus proposal aiming to streamline various Green Deal sustainability regulations is due to be released by 26 February 2025. It is possible the proposal will include delays in implementation, while a recently leaked European Commission strategy paper for streamlining the Commission’s regulatory processes suggests there may be a greater focus on reducing the regulatory burden for small and medium-sized companies.
This uncertainty around upcoming ESG legislation is likely to mean increased complexity and costs for companies associated with achieving regulatory compliance. A move away from a more global consensus on ESG due diligence and reporting requirements may result in deeper fragmentation of laws across jurisdictions. Companies will continue to face challenges in navigating these pro- and anti-ESG regulations across different jurisdictions.
At the same time, disasters such as the Los Angeles fires will keep ESG issues in the public consciousness, and deregulation is unlikely to be aligned with the evolving high watermark to which stakeholders are holding companies to account. We anticipate an increase in ESG litigation as activists continue to pursue behavioural change by governments and companies in the courts.
While many companies continue to take voluntary action on ESG issues, some are revisiting their ESG commitments in light of the increasingly contested and politicised environment, as well as the heightened reputational and legal exposures associated with sustainability and ESG-related public claims and commitments.
The paring back of existing commitments will continue to be scrutinised by regulators and civil society, and we anticipate that allegations of ‘greenhushing’ or ‘greywashing’ may develop.
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‘Greenhushing’ refers to deliberately withholding information about sustainability goals and achievements. |
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‘Greywashing’ refers to setting strategies and policies that are too watered down, unambitious, qualified or ambiguous to result in meaningful change. |
ASIC Chair Joe Longo has described greenhushing as ‘just another form of greenwashing’, which ‘risks misleading by omission’, referring to the annual Net Zero Report issued by South Pole which highlighted a substantial decrease in climate communications across a number of sectors.
Companies will need to continue to balance accuracy and appropriateness of commitments while maintaining flexibility in the changing political environment, with the risk of being perceived as laggards by their stakeholders.
Despite the mixed successes of recent ESG claims, we expect activists will continue to pursue strategic litigation to extract concessions from governments and companies and effect behavioural change.
ESG claims have expanded beyond the traditional higher-emitting sectors. Stakeholders are looking more widely at targets and potential claims with the objective of disrupting capital flows, including scrutinising companies’ exposure through their financing activities and broader value chains. We expect that financial institutions will remain a target of stakeholder scrutiny, and that claims and complaints will continue to explore the intersection between climate change and issues such as nature and biodiversity, human rights and plastics. The use of new technologies such as AI and carbon capture and storage (or CCS) is also attracting activist scrutiny.
In 2025, decisions from the International Court of Justice and Australian courts may clarify legal obligations related to climate change, particularly in tort law, potentially impacting future corporate liability for alleged climate change impacts.
Non-curial avenues such as the OECD National Contact Points and UN Special Procedures are already a well-tested forum on ESG issues. Complainants are likely to be interested in exploring the recent updates to the OECD Guidelines on matters such as climate change and biodiversity. The Australian National Contact point may also be utilised by stakeholders in response to the three-year modified liability regime under the new mandatory climate-related financial reporting regime introduced from 1 January 2025, which prevents private litigation in respect of certain ‘protected statements’ for a period of time.
Despite failures by state parties to reach agreement at 2024’s UN biodiversity and plastic forums, discourse surrounding the negotiations appears to be sharpening corporate and civil society focus, including through an uptick in plastics-related litigation and campaigns. The next UN biodiversity COP taking place in Rome in February this year, and international negotiations will continue on a treaty to address the full lifecycle of plastic—from production to design and disposal.
Another emerging focus area for companies is Indigenous Cultural and Intellectual Property (ICIP), particularly in the life sciences and mining sectors. A new treaty on genetic resources and traditional knowledge was concluded at the international level in 2024 under the auspices of the World Intellectual Property Organization (WIPO), which will require inventors to disclose the source of genetic resources and associated traditional knowledge in patent applications. After many years of diplomatic efforts by countries including Australia, this is the first multilateral treaty specifically relating to traditional knowledge, and efforts continue to protect traditional cultural expressions at the international level. It remains to be seen how this significant step at the international level will affect the discourse concerning the need for sui generis ICIP legislation in Australia.
The United States’ withdrawal from the Paris Agreement introduces a new element of uncertainty for global efforts to address climate change. It remains to be seen whether the Trump Administration’s decision will leave the US as an outlier in international climate and energy policy, or if it may have a broader chilling effect on global cooperation on climate change and other emerging environmental issues.
President of the European Commission, Ursula Von der Leyen, has already reaffirmed that ‘Europe will stay the course’ and reaffirmed the EU’s commitments to the Paris Agreement. A net zero-focused bipartisan alliance of 24 State Governors has also vowed to sustain and advance climate action in the US.
The new US administration has also embarked on a significant gear change in US domestic energy policy.
These changes are likely to lead to legal challenges, further adding to the uncertainties faced by businesses navigating the new energy policy environment. As the Trump Administration seeks to encourage investment in the oil and gas sectors, we also expect stakeholders to intensify their scrutiny of companies’ exposure to higher-emitting projects.
International initiatives to reduce methane emissions have been gaining industry and national support:
Several countries have moved to impose stricter regulations on methane emissions. In May 2024, the EU introduced its Methane Regulation requiring increased monitoring, detection and reduction of methane emissions. Additional import restrictions will extend to gas imported into the Eurozone from 2027. In November 2024, the United States Environmental Protection Agency announced new regulations on the emission of methane from crude-oil and natural gas facilities.
New and expanded gas projects (and related infrastructure and supply chains) remain a focus of campaigning and shareholder activism on fugitive methane emissions by organisations such as Market Forces.
Countries are moving to implement their national commitments under the Kunming-Montreal Global Biodiversity Framework.
Several jurisdictions are also moving to address deforestation in supply chains, with measures including import restrictions and due diligence requirements.
The UK is also developing its own Forest Risk Commodity Regulation,2 which would also impose commodity-based restrictions and due diligence requirements.
A growing number of jurisdictions are introducing restrictions on plastic products, including single-use and microplastics.
From the Murray-Darling Basin to the Great Barrier Reef and beyond, we expect to see preservation of, and access to, water resources increase in priority for stakeholders as an issue that crosses geographical and jurisdictional boundaries.
Access to water and sanitation is recognised as a fundamental human right by the UN General Assembly, and stakeholders are raising issues around water security, water quality, contamination by microplastics and Per- and Polyfluoroalkyl Substances (PFAS) chemicals, access to water resources for agriculture, and ensuring First Nations peoples’ interests and connection to water are taken into account.
In December 2024, the federal Attorney-General’s Department (AGD) published the Government’s response to the 2023 statutory review of the Modern Slavery Act 2018 (Cth) (MSA). The response follows the appointment of Australia’s first national Anti-Slavery Commissioner, who is expected to lead in the implementation of modern slavery reporting reforms.
The Government has agreed (in full, in part, or in principle) to 25 of the 30 recommendations from the review, including the need to strengthen the compliance and enforcement framework under the MSA. The Government agreed in principle to the introduction of a penalty regime—details are not yet available, but the Government is expected to consult with stakeholders in 2025.
One issue that remains unresolved is the status of proposals for mandatory human rights due diligence (HRDD) by reporting entities under the MSA. The Government has ‘noted’ the recommendation to introduce HRDD; however, it has indicated that the AGD will engage with stakeholders on HRDD as part of the next stage of implementation.
The introduction of mandatory HRDD would align Australia with a number of jurisdictions that have introduced supply chain due diligence requirements, most notably the EU’s Corporate Sustainability Due Diligence Directive adopted by the European Parliament in 2024. The Canadian Government has proposed new supply chain due diligence legislation, while a parliamentary review of the UK’s modern slavery legislation has recommended the introduction of due diligence obligations.
The timeline for legislative amendments to the MSA may be complicated by the federal election, which is due to occur before 17 May 2025.
As AI technologies advance, companies will need to navigate the social issues raised due to the use of AI in the workplace.
Already, we are seeing increasing use of AI in hiring practices such as the screening of job applications. Based on how the algorithm was trained, AI can perpetuate biases, potentially leading to harmful or discriminatory outputs for individuals, groups or communities and arguably resulting in adverse human rights impacts.
In the US, we are seeing court cases alleging unlawful discrimination where AI tools have been used for hiring, insurance claims and rental applications.3 We anticipate Australian businesses may face similar claims if AI is used without accounting for the risk of inherent bias.
The rate of change brought by advancements in AI technology is not only front of mind for employers, but also for employees concerned about its implications. In October 2024, it was reported that Cbus and its employees had agreed to a first-of-its-kind enterprise agreement dealing with protections for employees if or when the super fund introduces AI technologies. The agreement contains an agreed definition of AI, and provides that Cbus must consult with staff on any changes that impact them in relation to AI.
In 2025, the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs is set to continue its inquiry into the Truth and Justice Commission Bill 2024. The Bill seeks to establish a Commission to make recommendations to Parliament on historic and ongoing injustices against First Nations Australians. The Australian Law Reform Commission is also taking submissions as part of its review of the ‘future acts’ regime in the Native Title Act 1993 (Cth), with a final report to be delivered by December 2025. For more, see our Insight.
There are increasing demands on industry to consult First Nations stakeholders in their decision-making and operations, and to engage in benefit-sharing with Traditional Owners, with an emerging focus on the clean energy sector. The First Nations Clean Energy Network has published Best Practices Principles to help First Nations communities in Australia to share in the benefits of renewable energy projects, including calling for Free, Prior, and Informed Consent (FPIC) standards to apply throughout the lifecycle of projects.
We expect that international, ‘soft law’ standards will continue to evolve. For example, the International Council of Mining and Metals (ICMM) recently updated its Indigenous Peoples and Mining Position Statement to emphasise the responsibility of mining companies to achieve FPIC through meaningful engagement and good faith negotiation with Traditional Owners. Although the new standard goes beyond the current position in the Native Title Act and many cultural heritage laws in Australia, it is possible it will become a benchmark for mining companies in Australia—see our Insight.
Addressing misconduct impacting First Nations peoples also remains an enforcement priority for ASIC.
Diversity, equity and inclusion policies and initiatives have also become the subject of backlash in the United States through three executive orders signed by President Trump, with one executive order foreshadowing regulatory action to ‘encourage’ private sector employers to dismantle diversity programs that have been based on federal anti-discrimination law.
This backlash has already placed diversity on the political agenda in Australia, and the discussion around diversity policies and initiatives is likely to increase in the lead-up to the federal election this year.
Corporate culture is an ongoing boardroom issue and recent examples underscore the importance of accountability, transparency and strong and ethical corporate governance.
As ESG reporting obligations expand in Australia and overseas, AI will become an increasingly attractive tool for companies seeking to reduce the time needed for data gathering and drafting.
However, the use of AI may also present legal, regulatory and reputational risk:
US Senate News:
Source: United States Senator Tommy Tuberville (Alabama)
WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Jerry Moran (R-KS) in cosponsoring the Veterans’ Assuring Critical Care Expansions to Support Servicemembers (ACCESS) Act of 2025, which would increase access to care for veterans through the Department of Veterans Affairs (VA) providers in the community.
“Veterans have paid the ultimate sacrifice in order to secure our freedom,” said Sen. Tuberville. “Over the last four years, many veterans have endured painfully long wait times and few options for care outside the VA. We should be providing quality and timely community care options—not making it harder for veterans to even get through the door. This legislation is a crucial step in righting the wrongs of the past administration. I trust that soon-to-be Secretary Doug Collins will prioritize getting veterans access to the care they earned.”
U.S. Senators Tuberville and Moran are joined by U.S. Sens. Jim Banks (R-IN) and Thom Tillis (R-NC).
The legislation is endorsed by the Wounded Warrior Project, Disabled American Veterans, The American Legion, the Veterans of Foreign Wars of the United States, Paralyzed Veterans of America, Military Officers Association of America, America’s Warrior Partnership, Vietnam Veterans of America, the Tragedy Assistance Program for Survivors, the Elizabeth Dole Foundation, the Military Order of the Purple Heart, Hunter Seven Foundation, Concerned Veterans for America, Americans for Prosperity and the National Defense Committee.
Full text of the legislation can be found here.
BACKGROUND:
The Veterans’ Assuring Critical Care Expansions to Support Servicemembers (ACCESS) Act of 2025 would establish existing community care access standards as the baseline standard of care for veterans seeking care in the community, increase access to life-saving treatment programs for veterans with mental health conditions or addiction and expand the list of criteria VA is required to take into account when determining whether it is in a veteran’s best medical interest to refer a veteran to the community to include veteran preference and continuity of care.
Last year, Sen. Tuberville joined Sen. Moran in sending a letter to former Secretary McDonough urging him to reassess actions taken by the VA to cut referrals to community care. Sen. Tuberville also partnered with Sen. Rubio in introducing the Ensuring Continuity in Veterans Health Act, which would require the VA to consider continuity of healthcare when deciding whether seeing a provider in the community is in a veteran’s best medical interest.
MORE:
Tuberville, Blackburn Reintroduce Bill to Improve Veterans’ Access to Health Care
Tuberville, Blackburn Introduce Legislation to Improve Veterans’ Access to Free-Market Health Care
Tuberville Pushes Legislation to Improve Quality, Access to Care for Veterans
Tuberville Questions Collins, Wants to Restore VA to its Original Mission
The VA is broken, and Doug Collins can fix it
The Dangerous Biden-Harris Plan to Leave our Veterans Behind
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.
Source: Reserve Bank of India
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Source: China State Council Information Office
China Development Bank issued loans of 20.4 billion yuan (about 2.85 billion U.S. dollars) in 2024 to support 136 “dual-use public infrastructure” projects in cities including Beijing, Shenzhen and Fuzhou, said the policy bank.
Dual-use public infrastructure refers to public facilities such as stadiums, convention centers and parking facilities that can be easily converted for emergency use.
In recent years, China has proposed strengthening the construction of affordable housing, renewing urban villages, and developing dual-use public infrastructure.
Guan Hongyan, general manager of the bank’s transportation department, said the bank will increase medium- and long-term financing support for relevant projects.