Prime Minister of India Narendra Modi and President of Sri Lanka Anura Kumara Dissanayake yesterday had comprehensive and fruitful discussions at their meeting in New Delhi during the latter’s State visit to the Republic of India. The two leaders reaffirmed that the India-Sri Lanka bilateral partnership is underpinned by deep-rooted cultural and civilisational ties, geographical proximity and the people-to-people relations. President Dissanayake conveyed his deep appreciation for the unwavering support extended by India to the people of Sri Lanka during and after the unprecedented economic crisis in 2022. Recalling his profound commitment to fulfilling the aspirations of the Sri Lankan people for a prosperous future, greater opportunities, and sustained economic growth, he looked forward to India’s continued support for the achievement of these objectives. Prime Minister Modi assured President Dissanayake of India’s full commitment in this regard, in keeping with the special place Sri Lanka occupies in India’s ‘Neighbourhood First’ policy and Security and Growth for All in the Region (‘SAGAR’) vision. Both leaders acknowledged that bilateral ties had deepened over the years and contributed significantly to the socio-economic development of Sri Lanka. Underscoring the potential for further cooperation, both leaders affirmed their commitment to progress the relationship between India and Sri Lanka to a mutually beneficial comprehensive partnership for the well-being of the peoples of the two countries. Acknowledging the increased political interactions in the last decade and their contribution towards deepening the bilateral ties, both leaders agreed to further intensify political engagements at leadership and ministerial levels. The two leaders also underscored the importance of regular parliamentary level exchanges to promote democratic values and share expertise on their institutional best practices. The two leaders acknowledged the positive and impactful role of India’s development assistance to Sri Lanka that has significantly contributed to its socioeconomic growth. President Dissanayake appreciated India’s continued support for the implementation of projects despite the ongoing debt restructuring. He further acknowledged India’s decision to extend grant assistance for projects that were originally undertaken through Lines of Credit, thereby reducing the debt burden of Sri Lanka. Reaffirming their commitment to work closely in further intensifying people oriented development partnership, both leaders agreed to: i. Work together for the timely completion of ongoing projects such as Phase III & IV of Indian Housing Project, 3 (three) Islands Hybrid Renewable Energy Project and High Impact Community Development Projects across Sri Lanka; ii. Extend full support towards timely implementation of projects for the Indian Origin Tamil community, Eastern Province, and solar electrification of religious places in Sri Lanka; iii. Identify new projects and areas of cooperation for development partnership, in accordance with the needs and priorities of the Government of Sri Lanka. Underlining India’s role in extending capacity building support to Sri Lanka and factoring the need for customised training and capacity building in different fields in Sri Lanka, the leaders: i. Agreed to organise focused training of 1,500 Sri Lankan civil servants across ministries and departments over a period of five years through the National Centre for Good Governance in India; and ii. Committed to explore further training programs for Sri Lankan officials in civil, defence and legal domains among other areas, in keeping with the requirements of Sri Lanka. President Dissanayake thanked Prime Minister Modi for India’s support in stabilising the Sri Lankan economy through unparalleled and multi-pronged assistance including emergency financing and forex support worth $ 4 billion. He acknowledged India’s crucial assistance in Sri Lanka’s debt restructuring process, including as co-chair of the Official Creditors’ Committee (OCC), as being instrumental in finalising the debt restructuring discussions in a timely manner. He further thanked the Government of India for extending financial assistance of $ 20.66 million to settle payments due from Sri Lanka for projects completed under existing Lines of Credit thereby significantly reducing the debt burden at a critical time. Underscoring the close and special ties with Sri Lanka, Prime Minister Modi reiterated India’s consistent support to the country in times of need and in its quest for economic recovery and stability, and prosperity for its people. The leaders instructed officials to finalise discussions on the bilateral MoU on Debt Restructuring. Both leaders agreed that a strategic shift from debt-driven models towards investment led partnerships across different sectors would ensure a more sustainable path to economic recovery, development and prosperity in Sri Lanka. The leaders underlined the importance of greater connectivity and acknowledged the presence of complementarities between the two economies which could be harnessed for economic development and growth of both countries. In this regard: i. While expressing satisfaction at the resumption of the passenger ferry service between Nagapattinam and Kankesanthurai, they agreed that officials should work towards the early recommencement of the passenger ferry service between Rameshwaram and Talaimannar. ii. Explore the possibility of jointly working on rehabilitation of Kankesanthurai port in Sri Lanka, which will be implemented with grant assistance from the Government of India. Emphasising the need for reliable, affordable and timely energy resources for ensuring energy security and meeting basic needs of the people, both leaders underscored the importance of strengthening cooperation in the energy sector and facilitation towards timely implementation of ongoing energy cooperation projects between India and Sri Lanka. In this regard, the leaders agreed to: i. Take steps towards the implementation of the solar power project in Sampur and further augment its capacity as per the requirements of Sri Lanka. ii. Continue consideration of the several proposals which are in different stages of discussion including: a. supply of LNG from India to Sri Lanka. b. establishment of a high-capacity power grid interconnection between India and Sri Lanka. c. cooperation amongst India, Sri Lanka and UAE to implement a multi-product pipeline from India to Sri Lanka for supply of affordable and reliable energy. d. joint development of offshore wind power potential in Palk Straits, while prioritising environmental protection including fauna and flora. Acknowledging the ongoing cooperation in the development of Trincomalee Tank Farms, both leaders decided to support the development of Trincomalee as a regional energy and industrial hub. Acknowledging the successful experience of India in people-centric digitisation, which has helped in improving governance, transforming service delivery, ushering transparency, and contributing to social welfare, President Dissanayake conveyed his Government’s interest in exploring the establishment of similar systems in Sri Lanka with Indian assistance. Prime Minister Modi conveyed India’s readiness in fully supporting Sri Lanka’s efforts in this regard. In this context, the two leaders agreed to: i. Expedite implementation of Sri Lanka Unique Digital Identity (SLUDI) project to aid the country in its efforts to improve delivery of government services to the public; ii. Collaborate on avenues to fully roll out Digital Public Infrastructure (DPI) in Sri Lanka with assistance from India. iii. Establish a Joint Working Group to explore the implementation of a DPI stack in Sri Lanka based on experience and systems already established in India, including advancing ongoing technical discussions on the implementation of DigiLocker in Sri Lanka. iv. Promote digital financial transactions by extending the use of UPI digital payments for the benefit of both countries and in keeping with payment systems related regulatory guidelines of both countries. v. Continue bilateral exchanges to garner learnings from India’s Aadhaar platform, GeM portal, PM Gati Shakti digital platform, digitised customs and other taxation procedures, with a view to exploring the benefits of establishing equivalent systems in Sri Lanka. With a view to supporting human-resource development and promoting innovation and technology in Sri Lanka, the two leaders agreed to: i. Seek to expand collaboration in research and development in sectors such as agriculture, aquaculture, digital economy, health and other areas of mutual interest. ii. Explore cooperation between educational institutions of both countries. iii. Foster cooperation between Start-up India and Information Communication Technology Agency of Sri Lanka (ICTA), including for mentorship for Sri Lankan start-ups. The two leaders appreciated that the India-Sri Lanka Free Trade Agreement (ISFTA) has enhanced the trade partnership between the two countries, while acknowledging that there is immense potential for further expanding the trade ties Underscoring the pace of economic growth and opportunities in India as well as the growing market size and its potential for enhancing trade and investment for Sri Lanka, both leaders agreed that it is now opportune to further enhance the trade partnership by committing to: i. Continue discussions on the Economic and Technological Cooperation Agreement. ii. Enhance INR-LKR trade settlements between the two countries. iii. Encourage investments in key sectors in Sri Lanka to enhance its export potential. The two leaders agreed on the need to continue discussions for the early finalisation of the proposed bilateral Social Security Agreement. Both leaders appreciated the ongoing collaboration for the development of the dairy sector in Sri Lanka with the aim of promoting self-sufficiency and nutritional security. Noting President Dissanayake’s emphasis on agricultural modernisation, the two leaders agreed to establish a Joint Working Group to examine possibilities for the comprehensive development of the agricultural sector in Sri Lanka. Recognising shared security interests of India and Sri Lanka, both leaders acknowledged the importance of regular dialogue based on mutual trust and transparency and giving primacy to each other’s security concerns. As natural partners, both leaders underscored the common challenges faced by the two countries in the Indian Ocean Region and reaffirmed their commitment to work together in countering traditional and non-traditional threats as well as to ensure a free, open, safe and secure Indian Ocean Region. India being Sri Lanka’s closest maritime neighbour, President Dissanayake reiterated Sri Lanka’s stated position of not permitting its territory to be used in any manner inimical to the security of India as well as towards regional stability. Expressing satisfaction at the ongoing defence cooperation in training, exchange programs, ship visits, bilateral exercises and assistance to augment defence capabilities, both leaders agreed to advance maritime and security collaboration. President Dissanayake thanked India for its support through the provision of a Dornier Aircraft for maritime surveillance; and establishment of the Maritime Rescue and Coordination Centre in Sri Lanka amongst other assistance vital for Sri Lanka to enhance its maritime domain awareness. He further appreciated India’s role as a ‘first responder’ for Sri Lanka in the field of Humanitarian Assistance and Disaster Relief. Importantly, the recent success in collaboration efforts of Indian and Sri Lanka Navies in the seizing of vessels trafficking a large quantity of narcotics with suspects was mentioned and President Dissanayake expressed his gratitude to the Indian Navy. As a trusted and reliable partner, India conveyed its continued commitment to working closely with Sri Lanka in advancing its defence and maritime security needs and extending necessary assistance towards augmenting its capabilities to address its maritime challenges. Taking cognisance of various security threats such as terrorism, drug/narcotics smuggling, money laundering, and, both leaders agreed to further strengthen the ongoing efforts in training, capacity building, and intelligence and information sharing. In this context, they agreed to: i. Explore the possibility of concluding a framework Agreement on Defence Cooperation; ii. Foster cooperation in hydrography; iii. Provision of defence platforms and assets to augment Sri Lanka’s defence capabilities; iv. Intensify collaboration through joint exercises, maritime surveillance, and defence dialogue and exchanges; v. Extend assistance to strengthen capabilities of Sri Lanka on disaster mitigation, relief and rehabilitation, including through training, joint exercises and sharing of best practices; and vi. Enhance capacity building and training for Sri Lankan defence forces and conduct tailormade training programs, wherever required. Underlining their cultural affinity, geographical proximity and civilisational ties, both leaders acknowledged the need to further promote cultural and tourism links between the two countries. Given that India has been the largest source of tourism for Sri Lanka, the two leaders committed to: i. Enhancing air connectivity to various destinations in India and Sri Lanka, while noting the successful resumption of flights between Chennai and Jaffna. ii. Continuing discussions on the development of airports in Sri Lanka. iii. Promoting Indian investments for the development of tourism infrastructure in Sri Lanka. iv. Establishing a facilitatory framework for development of religious and cultural tourism. v. Promoting academic linkages between educational institutions for the promotion and advancement of cultural and linguistic ties between the two countries. Acknowledging the issues faced by fishermen on both sides and factoring the livelihood concerns, the leaders agreed on the need to continue to address these in a humanitarian manner. In this regard, they also underscored the need to take measures to avoid any aggressive behaviour or violence. They welcomed the recent conclusion of the 6th Joint Working Group Meeting on Fisheries in Colombo. The leaders expressed confidence that through dialogue and constructive engagements a long lasting and mutually acceptable solution could be achieved. Given the special relationship between India and Sri Lanka, they instructed officials to continue their engagement to address these issues. President Dissanayake thanked India for its initiatives for the sustainable and commercial development of fisheries in Sri Lanka, including development of Point Pedro Fishing Harbour, rehabilitation of Karainagar Boatyard and cooperation in Aquaculture through Indian assistance. Recognising shared maritime security interests in the Indian Ocean Region, both leaders agreed to jointly pursue strengthening regional maritime security, both bilaterally and through existing regional frameworks. In this regard, the leaders welcomed the recent signing of the Founding Documents of the Colombo Security Conclave headquartered in Colombo. India reiterated its support to Sri Lanka in advancing the objectives of the Conclave. India conveyed its full support for Sri Lanka’s Chairmanship of the IORA. Both leaders underscored the need for a substantive action plan by IORA member countries for security and development of all in the region. Both leaders also underlined their commitment to further strengthen and enhance regional cooperation under BIMSTEC. President Dissanayake requested Prime Minister Modi’s support for Sri Lanka’s application to become a member of the BRICS. Prime Minister Modi welcomed Sri Lanka’s support to India’s candidature for a non-permanent seat on the UN Security Council for 2028-2029. The leaders noted that the effective and timely implementation of agreed measures, as outlined, would deepen the bilateral ties between the two countries and transform the relationship into a new standard for friendly and neighbourly ties. Accordingly, the leaders directed their officials to initiate necessary measures for implementation of the understandings and agreed to extend guidance, where required. They further resolved to continue engagement at leadership level to qualitatively enhance bilateral ties that are mutually beneficial, cater to sustainable developmental needs of Sri Lanka and contribute to the stability of the Indian Ocean Region. President Dissanayake invited Prime Minister Modi to pay a visit to Sri Lanka at his earliest convenience.
IN PHOTOS: Energy fills Place Bell for Montreal Victoire VS Ottawa Charge home opener( MENAFN - News Direct) --News Direct-- The holiday season is in full swing, but consumers still have time to check off their gift list without breaking the bank. Smart Shopping Expert, Trae Bodge, recently conducted a satellite media tour in partnership with Target and D S Simon Media to share money-saving tips, gift ideas and easier ways to shop to help make the most of the final holiday shopping trips while staying on budget. A video accompanying this press release is available at: Target is making last-minute holiday shopping easier with extended holiday hours, fast and free same-day pick-up and delivery options and amazing deals on gifts for everyone on the gift list. Target stores will stay open as late as midnight until December 23, and as late as 8 p.m. on Christmas Eve. Guests can place orders as late as 6 p.m. local time at most stores on Christmas Eve and get their purchases using Target's same-day services, Drive Up and Order Pickup. Guests also can place orders before 3 p.m. local time on Christmas Eve and have them delivered to their homes the same day. Members of Target Circle 360, Target's paid membership program and Target Circle Card holders, have the benefit of unlimited same-day delivery on orders over $35. For non-members, same-day delivery is available for $9.99 per order. During the three-day Holiday Countdown Sale from December 12 to December 14 , Target will offer savings on last-minute purchases, including deals on thousands of toys with more than half priced under $20 and $5 and $10 must-have gifts. Guests can also enjoy discounts like 30% off Cat & Jack kids' clothing, 30% off adult dressy clothing, savings on toys when spending $50 with Target Circle and up to 40% off small appliances, floorcare and beauty gift sets. From December 15 through December 24 , Target continues to provide savings on last-minute purchases with discounts on thousands of toys, more than half priced under $20 and additional must-have gifts at $5 and $10. Top deals during include up to 50% off select toys and video games, 30% off select women's clothing from Wild Fable, Universal Thread and A New Day, as well as savings on items in tech and books. Guests can also earn a $10 GiftCard with Target Circle when spending $40 on beauty and health products. Target guests can also take advantage of the Deal of the Day program, offering members of the free-to-join Target Circle program the chance to save up to 50% on one-day-only deals through December 24. Target Circle Card holders receive additional benefits, including an extra 5% off purchases and a $50 discount on the Target Circle 360 membership, which offers unlimited same-day shipping. To ensure every guest finds the perfect gift, Target offers exclusive items and incredible value. Great prices extend to only-at-Target exclusives, with a wide assortment of inspiring, on-trend options for everyone on consumers' holiday shopping list: -Beauty and personal care gift sets, such as the Enchanting Eyes , Season to Shine Hair Styling and Get Ready With Me Beauty Discovery Sets , are priced affordably at $20. Festive fashion includes everything from A New Day tulle bows and glam beaded bags to cozy Wondershop slippers and Goodfellow & Co socks , with prices starting at $5. -Target continues to be the ultimate destination for must-have toys, offering options for kids of all ages. Popular items include LEGO Disney Moana's Flowerpot , the Jurassic World Wild Roar Ceratosaurus , MGA's Miniverse Harry Potter Make It Mini Potions and sweet options for little ones from Gigglescape . In-store shoppers can find top toys and stocking stuffers under $10 all in one place, including the Barbie Dreamhouse, the Target toy shopping cart and more. -For seasonal touches, Target offers Room Essentials candles and cherry pillows , as well as cute Wondershop mugs to add a festive ambiance to any home, with most items priced under $10. -Shoppers can also explore an expanded assortment from Marks & Spencer , featuring 12 exclusive gourmet food and beverage gifts like the Gingerbread Tin and Salted Caramel Pinecones , along with 11 new home items such as London-themed ornaments and mugs, all priced under $20. Foodie favorites like the Hot Ones Trio Pack of hot sauces and Favorite Day Decadent Christmas Chocolates , both under $25, make perfect gifts for culinary enthusiasts. Target recently reduced prices on 2,000 items, including food, beverages and everyday essentials, ensuring holiday shopping remains affordable. Target offers everything you need to entertain with ease and on a budget, with a hickory-smoked ham priced at 99 cents per pound and reduced prices on nearly 10,000 items by the end of the holiday season. Shoppers can also take comfort in knowing they can get the lowest price of the season with Target's industry-leading Holiday Price Match Guarantee , which allows for price adjustments on purchases made between November 7 and Christmas Eve if the price drops during that time period. With extended hours, convenient same-day shopping options, exclusive gifts and unbeatable deals, Target is the ultimate destination for a joyful, easy and affordable holiday shopping experience. Visit one of Target's nearly 2,000 stores, Target or the Target app for the latest deals and last-minute gift ideas. About Trae Bodge Trae is an accomplished lifestyle journalist and TV commentator who has specialized in smart shopping, living on a budget, personal finance, family travel and retail for more than a decade. She has appeared on TV thousands of times; including Today Show , GMA , NBC Nightly News , Inside Edition and network affiliates nationwide. She was named one of 5 Black Financial Influencers to Follow in 2024 by Nerdwallet , one of 10 Best Savvy Shopping Bloggers for 2024 by Cardrates , a Top Voice in Retail by LinkedIn, a top personal finance expert by GoBankingRates and FlexJobs, and was selected to be a founding member of the Kiplinger Advisor Collective . Her writing and expert commentary have appeared in Forbes , Time , Marketwatch , MSN , USNews , Kiplinger , Yahoo and numerous others. About D S Simon Media The firm is well known as a leader in the satellite media tour industry and produces tours from its studio and multiple control rooms at its New York headquarters. Clients include top brands in healthcare, technology, travel, financial services, consumer goods, entertainment, retail and non-profits. Established in 1986 the firm has won more than 100 industry awards. About YourUpdateTV : YourUpdateTV is a property of D S Simon Media. The video included and release was part of a media tour that was produced by D S Simon Media on behalf of Target. YourUpdateTV +1 212-736-2727 ... View source version on newsdirect: MENAFN16122024005728012573ID1109000104 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
NEW YORK , Nov. 26, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global styrene butadiene (SB) latex market size is estimated to grow by USD 1.50 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.68% during the forecast period. Growing demand for sb latex from APAC and Europe is driving market growth, with a trend towards rising preference for bio-based latexes. However, fluctuations in crude oil prices poses a challenge.Key market players include Asahi Kasei Corp., BASF SE, Dow Chemical Co., EcoSynthetix Inc., Fosroc International Ltd., General Industrial Polymers, Hansol Holdings, JSR Corp., Jubilant Industries Ltd., Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., Mallard Creek Polymers, MCTRON Inc., NANTEX INDUSTRY Co. Ltd., Rishiroop Polymers Pvt. Ltd., RPM International Inc., S.R. Chemical, Synthomer Plc, and Trinseo PLC. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Styrene Butadiene (SB) Latex Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 3.68% Market growth 2024-2028 USD 1.50 billion Market structure Fragmented YoY growth 2022-2023 (%) 2.93 Regional analysis APAC, Europe, North America, Middle East and Africa, and South America Performing market contribution APAC at 52% Key countries US, China, Japan, South Korea, and Germany Key companies profiled Asahi Kasei Corp., BASF SE, Dow Chemical Co., EcoSynthetix Inc., Fosroc International Ltd., General Industrial Polymers, Hansol Holdings, JSR Corp., Jubilant Industries Ltd., Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., Mallard Creek Polymers, MCTRON Inc., NANTEX INDUSTRY Co. Ltd., Rishiroop Polymers Pvt. Ltd., RPM International Inc., S.R. Chemical, Synthomer Plc, and Trinseo PLC Market Driver The Styrene Butadiene (SB) latex market is experiencing significant growth in various industries. In the paper processing segment, SB latex is used as binders for coated paper and adhesion applications. In construction, it serves as a mortar additive, enhancing compressive and tensile strength. In the automotive industry, SB latex is used for lightweight automotive materials and sealants, providing durability, resilience, and water resistance. The adhesives industry benefits from SB latex in pressure-sensitive and bonding adhesives, while the coatings segment uses it for water-based coatings, film-forming properties, and print quality. The furniture industry and e-commerce sector also utilize SB latex for upholstery and packaging materials. In the renewable energy sector, SB latex is used in green building materials and as a feedstock for producing acrylic, vinyl, and polyurethane. The paper industry uses SB latex for impregnation, while the carpet industry employs it for tufted carpets and back coating. SB latex's stability, abrasion resistance, and adhesion properties make it an essential ingredient in various industries. Butadiene and styrene are the primary monomers used in the polymerization reaction to produce styrene butadiene copolymers. The emulsifier plays a crucial role in the production process. SB latex alternatives are being explored in the market, but its unique properties make it a preferred choice for numerous applications. Architects and developers in residential complexes and commercial spaces continue to rely on SB latex-based products for their sustainability, durability, and environmental friendliness. The demand for bio-based latexes, such as starch-derived latex, is increasing due to growing concerns about synthetic latex materials in various industries. In particular, the paper industry, which is the largest end-user of Styrene Butadiene (SB) latex, is looking for alternatives to petroleum-derived latex due to price fluctuations of styrene and butadiene. Latex manufacturers are replacing synthetic latex binders with bio-based latex in applications like coatings for paperboard, catalogs, and packaging board. EcoSynthetix Inc. Is a leading producer of EcoSphere bio-based latex binders. Bio-based latex not only offers sustainability benefits by consuming less energy but also aligns with the industry's shift towards eco-friendly alternatives. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The Styrene Butadiene (SB) Latex market faces several challenges in various industries. In paper processing, ensuring print quality and water resistance are key concerns. In the mortar additives segment, stability and bonding adhesion are important for construction projects. For adhesives and coatings, durability, resilience, and adhesion are crucial factors. Sealants require water resistance, abrasion resistance, and flexibility. In the automotive industry, lightweight materials and sustainability are driving demand for SB latex in e-commerce packaging and green building materials. In the renewable energy sector, SB latex is used in water-based coatings for wind turbines and solar panels. Competition comes from alternatives like acrylic, vinyl, and polyurethane. Architects and developers in the residential and commercial spaces rely on SB latex-based products for their durability and versatility. The paper industry uses SB latex as a binder in coated paper production. The carpet industry employs it in tufted carpets for back coating and stability. In fiber processing, SB latex is used as an impregnant for fibers. Butadiene and styrene are the primary monomers for SB latex production. The polymerization reaction requires refrigeration equipment and an emulsifier. Carboxylic acid is used as a catalyst. In the adhesives industry, SB latex is used for pressure-sensitive and bonding adhesives. In the construction industry, it is used as a mortar additive. Non-woven fabrics use SB latex as a coating for improved properties. In the textile industry, SB latex is used for fiber processing and glass fiber processing. In the furniture industry, it is used for upholstery applications. In the automotive industry, it is used for seat covers and interior coatings. Overall, the SB latex market faces challenges in maintaining stability, preventing fraying, and ensuring compatibility with various substrates. However, its versatility and performance make it a preferred choice for numerous industries. The global Styrene Butadiene (SB) latex market experiences significant volatility due to fluctuations in crude oil prices. As key raw materials, styrene and butadiene, are derived from petroleum products, their prices are directly impacted by crude oil prices. For instance, the average price of ethylene, a related petrochemical, rose from around USD697 per metric ton in 2020 to USD1,014 per metric ton in July 2021 , a 45% increase. This significant increase in raw material costs poses a major concern for SB latex manufacturers, as it increases production costs. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This styrene butadiene (sb) latex market report extensively covers market segmentation by Type 1.1 Low 1.2 Medium 1.3 High Application 2.1 Paper processing 2.2 Fiber and carpet processing 2.3 Glass fiber adhesives 2.4 Adhesives 2.5 Others Geography 3.1 APAC 3.2 Europe 3.3 North America 3.4 Middle East and Africa 3.5 South America 1.1 Low- Styrene Butadiene (SB) latex is a hydrocarbon compound used extensively in various industries for adhesive and coating applications. SB latex with low butadiene content is gaining popularity due to its environmental benefits. It helps reduce volatile organic compound (VOC) emissions, contributing to a smaller carbon footprint. In certain applications, this type of SB latex offers enhanced mechanical properties, such as improved tensile strength and abrasion resistance, making it suitable for industries where durability is crucial. The increasing demand for eco-friendly and high-performing products is driving the growth of the global SB latex market. Specifically, low butadiene SB latex is preferred due to its superior chemical and UV resistance, resulting in more durable coatings and adhesives. This trend is expected to continue during the forecast period. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Styrene Butadiene (SB) Latex market refers to the global trade of styrene butadiene latex, a type of elastomeric dispersion. This market encompasses various applications, including paper processing, mortar additives, adhesives, coatings, sealants, and paper coatings. SB latex is produced through the polymerization reaction of butadiene and styrene monomers, with the assistance of emulsifiers. In the paper processing segment, SB latex is used for coating and sizing paper. In the mortar additives segment, it enhances the plasticity and workability of mortar. In the adhesives industry, it is used in the production of pressure-sensitive adhesives. In the coatings segment, SB latex is utilized in paints and coatings to improve their elasticity and durability. The carpet industry also uses SB latex as a binder in the production of carpet backing. In the sealants segment, it is used to produce high-performance sealants with excellent adhesion and flexibility. The sealants find applications in construction, automotive, and other industries. SB latex is also used in the impregnation of fiber materials, such as glass fiber processing, to improve their strength and durability. The feedstock for SB latex production includes butadiene and styrene, which are obtained from refineries and petrochemical plants. The production process requires refrigeration equipment to maintain the temperature during the polymerization reaction. Market Research Overview Styrene Butadiene (SB) Latex is a versatile elastomeric material derived from the polymerization of Styrene and Butadiene monomers. It is widely used in various industries due to its excellent properties such as print quality, water resistance, film-forming properties, and adhesion. In the paper processing segment, SB Latex is used as binders for coated paper and impregnation for improving stability and reducing fraying. In the construction industry, it is used as mortar additives for enhancing bonding adhesion, compressive strength, and tensile strength. SB Latex finds extensive applications in adhesives, coatings, sealants, paper coatings, and packaging materials. It is used in the automotive industry for producing lightweight automotive materials and in the renewable energy sector for manufacturing eco-friendly and sustainable latex-based products. The textile, furniture, and e-commerce industries also use SB Latex for producing durable and resilient products. SB Latex is produced through a polymerization reaction involving Styrene, Butadiene, and an emulsifier. The resulting Styrene Butadiene copolymers exhibit excellent properties such as water resistance, abrasion resistance, and adhesion. SB Latex alternatives are also available in the market, offering similar benefits but with different chemical compositions. In the paper industry, SB Latex is used for producing high-quality coated paper, while in the carpet industry, it is used for back coating tufted carpets to improve their stability and durability. The adhesives industry uses SB Latex for producing pressure-sensitive adhesives and bonding adhesives. In the fiber processing industry, SB Latex is used for glass fiber processing and in the production of non-woven fabrics. SB Latex is also used in the production of acrylic, vinyl, and polyurethane coatings, offering improved properties such as print quality, water resistance, and durability. In the automotive industry, SB Latex is used for manufacturing lightweight automotive materials, while in the construction industry, it is used for producing green building materials. The properties of SB Latex make it an ideal choice for various applications, including residential complexes, commercial spaces, and architectural projects. Architects and developers use SB Latex-based products for their excellent bonding properties, durability, and resistance to environmental factors. The production of SB Latex involves the use of refrigeration equipment to maintain the temperature during the polymerization reaction. The resulting latex is a viscoelastic material with plasticity, making it easy to handle and apply. The monomers used in the production of SB Latex include Styrene, Butadiene, and carboxylic acid. The polymerization reaction results in the formation of Styrene Butadiene copolymers, which exhibit excellent properties such as adhesion, abrasion resistance, and water resistance. In summary, Styrene Butadiene Latex is a versatile material with a wide range of applications in various industries, including paper processing, construction, automotive, textile, furniture, e-commerce, renewable energy, and adhesives. Its excellent properties, such as print quality, water resistance, film-forming properties, and adhesion, make it an ideal choice for various applications. The production of SB Latex involves the use of refrigeration equipment and the polymerization reaction of Styrene, Butadiene, and carboxylic acid to form Styrene Butadiene copolymers. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Type Low Medium High Application Paper Processing Fiber And Carpet Processing Glass Fiber Adhesives Adhesives Others Geography APAC Europe North America Middle East And Africa South America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/styrene-butadiene-sb-latex-market-to-grow-by-usd-1-50-billion-2024-2028-demand-from-apac-and-europe-boosts-growth-ai-impact-on-market-trends---technavio-302316090.html SOURCE Technavio © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.ISLAMABAD – The Digital Nation Pakistan Bill 2024 was presented in the National Assembly by Minister of State for IT, Shaza Fatima. The session, chaired by the Deputy Speaker, was adjourned until 11am the next day following the bill’s introduction. Key Features of the Bill Formation of a National Digital Commission: A 17-member commission headed by the Prime Minister, including the Chief Ministers of all provinces. The commission will also include IT Minister as Vice-Chairman, five federal ministers, Chairpersons of FBR, NADRA, PTA, SECP, and the Governor of the State Bank. Pakistan Digital Authority (PDA) will be established with a three-member structure, approved by the PM. Digital Master Plan The bill aims to create a National Digital Master Plan to: Digitize governance systems. Transition Pakistan into a digital economy. Involve stakeholders for strategic planning. Monitor implementation through annual reviews. Supervisory and Financial Setup A nine-member oversight committee will supervise PDA’s activities. A Digital National Fund will be created to meet financial requirements. Centralize records, such as land, health, birth, and ID data, into one platform. Enable unified data access to track assets and activities efficiently. The bill sets a roadmap for digital transformation, aiming to enhance governance and public service delivery through technology.
Iowa Gov. Kim Reynolds names Sen. Chris Cournoyer lieutenant governor
According to Greg Wyshynski of ESPN , the Detroit Red Wings are on the verge of making a coaching change. Following the team’s disappointing 4-0 loss to the St. Louis Blues, with the holiday break giving GM Steve Yzerman some time to think it over, speculation is he’s ready to pull the plug on Derek Lalonde . Hearing whispers that Steve Yzerman is ready for a coaching change in Detroit, however owner Chris Ilitch is hesitant due to the financial impact of a potential buyout. Interesting situation developing... #LGRW The defeat to the Blues has fueled discussions about the team’s long-term direction and performance under its current coaching staff. What may be causing the delay is owner Chris Ilitch’s reluctance to approve a coaching change due to financial concerns. While Yzerman appears dissatisfied with recent results and is eager to make a move, Ilitch is hesitant to pay two coaches. The expenses involved in buying out the current coach’s contract, along with the cost of hiring an experienced replacement, are creating obstacles to approving the change. Do the Red Wings think they can salvage the season? It’s intriguing timing for talk of the coaching chance to surface. There has been chatter most of the year that this might be in the works, but now that the Red Wings are 34 games into the season and seventh in the Atlantic Division, it’s hard to see a scenario where they turn things around. The team is eight points out of the wild-card race , and while a new coach might offer them a bump in terms of improved play, would it be enough? As pressure mounts, Red Wings fans are eager to see whether Yzerman can secure the resources needed to make significant changes and get the team back on track. And, if they do make a change, is the coach they bring in supposed to get this team into the playoff mix? Or, is it about finding a coach to move forward with the team after this year? This article first appeared on NHL Trade Talk and was syndicated with permission.
The rivalry between Michigan and Ohio State is always a special occasion, regardless of what records the two programs enter the game with each year. Ohio State is one of the top teams in the country with national championship aspirations, while Michigan is currently in the middle of a down year after winning last year's title. Saturday's game represents a massive opportunity for Ohio State to secure their spot in the playoff and in the Big Ten title game, and head coach Ryan Day appeared to agree. Day more a special outfit to Saturday's game, a checkered blazer in Ohio State's signature scarlet. Some fans weren't happy with his outfit choice, and they let the head coach know on social media. "Ryan Day looks like the department store manager who fires the real Santa Claus in a 1990s straight-to-video kids movie," said one fan . "Movie title: Christmas Day, obviously," said another fan . "The Olsen twins are about to hatch a plan to have him up out of there and save Christmas, all while visiting the Mall of America," one fan joked . "Ryan Day looks like he really really wants to sell you a mattress to meet his monthly quota. He’ll even throw in a gift card to a defunct Sizzler," another fan added . "Look like he went town to town in the 1890s selling "miracle elixirs" out the back of a covered wagon," said one fan . Jason Mowry/Getty Images Day and Ohio State are getting all they can handle on Saturday from their rivals, as they look to continue their one-loss campaign this season. Emerging from the Big Ten with a single loss through the regular season should be enough to earn an at-large bid to the College Football Playoff, but Ohio State can enter as the top seed if they're able to avenge their only loss against Oregon in the Big Ten title game. The Buckeyes will need to get to Indianapolis first, and that means ensuring they're able to win against Michigan on Saturday. We'll see how Ohio State finishes this week's game with so much on the line for the rest of the year. Related: Gus Johnson Taking Heat For 'Classless' Remark During Ohio State vs. MichiganListen up, boys and girls. Once upon a time, there were a lot of Jews living in the Land of Israel. Some of them were up to date with world culture, which is to say they read Greek literature, went to the gym and weren’t all that religious. Others were, well, fundamentalists. The two groups were pretty polarized. After a while, their harsh culture war became a civil war. As it happened, the Land of Israel in those days was controlled by the king of Syria, a none-too-stable Greek culture guy known as Antiochus Da God. After beating up on the Egyptians, he decided to settle the Jews’ hash, siding (of course) with the liberals. Seizing Jerusalem, Antiochus decided to outlaw the practice of Judaism altogether, burning copies of the Torah, prohibiting observance of the Sabbath and holidays and forbidding circumcision. He turned the temple into a Greek religious shrine, complete with a statue of Zeus. As a result, a country priest named Mattathias and his five sons instigated a revolt. These Maccabees, as they came to be called, used guerrilla tactics to defeat the Syrian army, recaptured Jerusalem and rededicated the temple. Many of you have heard that their victory was accompanied by a miracle, in which a one-day supply of undefiled oil kept the temple menorah burning for eight days. I’m sorry to have to tell you it never happened. The real deal was that, because of the temple takeover, the Jews hadn’t been able to observe the weeklong fall pilgrimage festival called Sukkot. The first Hanukkah was designed to make up for that, and it continued annually as the Feast of Dedication. Jesus himself visited the temple during this feast. As for the miracle of the oil, that was an old rabbis’ tale, told in the Talmud centuries after the fact to demonstrate that God had a hand in the story. In fact, the rabbis didn’t really like Hanukkah. How come? For starters, it was the Maccabean revolt that inspired the revolt against the Romans some 170 years later, which led to the destruction of the temple and the exile of Jews from Judea. Plus, the descendants of the Maccabees who ruled as the Hasmonean dynasty were deeply flawed characters. They combined the office of king and high priest in their own persons, violating the separation of religious and political authority established under Moses and Aaron after the Israelites left Egypt. (Talk about Jewish theocracy!) The Hasmonean priest-kings were also intolerant, slaughtering thousands of Jews who didn’t agree with them. And they got into fights with the religious precursors of the rabbis. At the same time, the Hasmoneans conquered a bunch of territory, leading scholars to debate whether they wanted to restore the Greater Israel of King David and King Solomon. Whether their territorial ambitions were primarily religious or secular is also a matter of debate. They did force people in their territory to have their sons circumcised. Truth to tell, this period of history has long served as a touchstone for reckoning with control of the Land of Israel. Where the rabbis of the Talmud kept the Maccabees at arm’s length, the Zionists happily rehabilitated them as heroes of their new state. These days, we may wonder whether the deeply flawed Israeli leader, Benjamin Netanyahu, is seeking to restore the Greater Israel of David and Solomon, and whether his government, well supplied with zealots, is motivated by secular or religious goals. As always in the Jewish world, the debates continue. Happy Hanukkah! (The views expressed in this opinion piece do not necessarily reflect those of Religion News Service.)
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“We had another outstanding quarter with record revenue and positive Adjusted EBITDA...We are very excited with our VSDHOne release and onboarding clients to increase our growth pace” - Shane Madden, CEO of Hydreight VANCOUVER, British Columbia and LAS VEGAS, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“ Hydreight ” or the “Company ”) ( TSXV: NURS )( OTCQB: HYDTF )( FSE: SO6 ), a fast-growing mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the third quarter ended September 30, 2024. All financial information is presented in Canadian dollars unless otherwise indicated. Summary of Q3, 2024 Financial Highlights: Q3, 2024 GAAP revenue was $4.53 million an increase of 47% compared to Q3, 2023. Q3 2024 Topline1 record revenue of $6.12 million, an increase of 54% compared to Q3, 2023. Q3, 2024 Adjusted EBITDA1 was $48K compared to ($265K) in the comparative quarter. Q3, 2024 gross margin of $1.53 million compared to $1.27 million in Q3, 2023. The company has never raised or borrowed any additional capital since the original going public transaction in December 2022. The Company’s cash position at September 30, 2024 is $1.21 million. The first 9 months of 2024 GAAP revenue was $12.00 million, an increase of 48% compared to the first 9 months of 2023. The first 9 months of 2024 Topline1 revenue was $16.58 million, an increase of 37% compared to the first 9 months of 2023. Hydreight Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500TM and 9th in Deloitte’s Technology Fast 50 Program Winners in Canada for 2024 In partnership with two other companies, Hydreight launched VSDHOne, a telemedicine and e-Commerce solution, that helps companies launch a direct to consumer (“DTC”) healthcare brand in all 50 States. Within the first 90 days, VSDHOne sold over 200 licenses across 50 States. Announced a normal course issuer bid on August 28, 2024, covering the period from Oct 4, 2024, to October 3, 2025. Signed a partnership with a company that works with US Government agencies for service and healthcare contracts. Shane Madden, CEO of Hydreight commented, “We had an outstanding quarter with record revenue, Adjusted EBITDA1 and Adjusted Revenue1. We are very excited for our “VSDHONE” products expansion and cashflow from that in the upcoming year”. Madden continues "Our balance sheet and P&L reflect a provision for US sales and use tax where we have taken the most conservative approach in recognizing a liability of uncertain timing and amount based on our internal and preliminary assessment of sales and use tax nexus under the most expansive taxability assumptions. Given the complexity of our corporate structure and State excise tax laws and regulations, we have engaged external tax professionals to prepare a detailed review of our corporate structure to determine the Company’s liability for sales and use tax by revenue stream at the State-by-State level. We anticipate the liability to be settled at an amount materially less than the provision. The Company believes the following Non-GAAP 1 financial measures provide meaningful insight to aid in the understanding of the Company’s performance and may assist in the evaluation of the Company’s business relative to that of its peers: 1 Refer to Use of Non-GAAP Financial Measures The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly consolidated financial statements of the Company. The Company has experienced dramatic user growth over the past two years as can be seen by the consistent revenue growth over the past eight quarters. The Company continues to deliver on its mission of building one of the largest mobile clinical networks in the United States. Through its medical network, pharmacy network and proprietary technology platform that adheres to the complex healthcare legislation across 50 states, Hydreight has provided a fully integrated solution for healthcare providers to become independent contractors. Hydreight remains focused on its strategic priorities of (1) Profitability (2) adding more product and service offerings for its customers, (3) introducing Hydreight story with more potential shareholders (4) driving white label partnerships and Nurses to the platform and (5) looking for strategic tuck in M&A opportunities to scale and grow the business quickly and efficiently . Hydreight will continue to invest into its technology to ensure continuous improvements, advancements and updates adhering to changes within the healthcare industry. Please see SEDAR + for the Company's condensed interim consolidated unaudited financial statements and MD&A for the three and six months ended September 30, 2024 and 2023 and for the Company’s audited annual consolidated financial statements and MD&A for the year ended December 31, 2023 and 2022. About VSDHOne - Direct to Consumer Platform In a partnership with two other parties, Hydreight Technologies launched the VSDHOne (Read as VSDH-One)platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s (semaglutide, tirzepatide), peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy (“TRT”), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months. About Hydreight Technologies Inc. Hydreight Technologies Inc. is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network. On behalf of the Board of Directors Shane Madden Director and Chief Executive Officer Hydreight Technologies Inc. Contact Email: ir@hydreight.com ; Telephone: (702) 970 8112 This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Use of Non-GAAP Financial Measures: This release contains references to non-GAAP financial measures Adjusted Revenue (also referred to as Topline Revenue), Adjusted Gross Margin, and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company’s operating cash flow growth, user growth, and cash generating potential for funding working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. These non-GAAP measures may assist in the evaluation of the Company’s business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP. Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, path to profitability, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding expectations for the Company's growth and profitability in 2024. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company’s shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 1 See Use of Non-GAAP Financial MeasuresFive inmates graduate from university with Second Class Upper
BERWYN, Pa. , Nov. 26, 2024 /PRNewswire/ -- Envestnet, Inc. (the " Company "), yesterday announced that, pursuant to that certain Agreement and Plan of Merger, dated as of July 11, 2024 , by and among the Company, BCPE Pequod Buyer, Inc. (" Parent "), a Delaware corporation, and BCPE Pequod Merger Sub, Inc. (" Merger Sub "), a Delaware corporation and a wholly owned subsidiary of Parent (the "Merger Agreement"), Merger Sub merged with and into the Company (the " Merger "), with the Company continuing as the surviving corporation. At the effective time of the Merger, each share of common stock, par value $0.005 per share, of the Company (the " Common Shares ") (other than any Common Shares (i) owned by Parent (or any of its affiliates), Merger Sub or the Company or any direct or indirect wholly owned subsidiaries of Parent (or any of its affiliates), Merger Sub or the Company, (ii) that are Rollover Shares (as defined in the Merger Agreement), (iii) held in treasury of the Company, and (iv) as to which appraisal rights have been properly exercised in accordance with Delaware law) was automatically cancelled, extinguished and converted into the right to receive $63.15 in cash per one Common Share. As a result, a Share Exchange Event and a Make-Whole Fundamental Change occurred under each of the Indenture, dated as of August 20, 2020 , among the Company, the guarantor party thereto and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee (the " Trustee "), which governs the Company's 0.75% Convertible Notes due 2025 (the " 2025 Notes ") (such indenture, the " 2025 Indenture ") and the Indenture, dated of November 17, 2022 , among the Company, the guarantor party thereto and the Trustee, which governs the Company's 2.625% Convertible Notes due 2027 (the " 2027 Notes ", and together with the 2025 Notes, collectively and individually, the " Notes ") (such indenture, the " 2027 Indenture ", and together with the 2025 Indenture, collectively, the " Indentures ", and each, an " Indenture ", as applicable), triggering the adjustments to the conversion rights as described below. The effective date of the Share Exchange Event and Make-Whole Fundamental Change was November 25, 2024 (the " Effective Date "). Capitalized terms used and not defined herein have the meanings ascribed to them in the applicable Indenture. The Company announced that, pursuant to the terms of the respective Indenture, in connection with the consummation of the Merger which constitutes a Share Exchange Event under each Indenture, the Company and the Trustee entered into supplemental indentures to each Indenture providing that, following the effective date of the Merger, the right to convert each $1,000 principal amount of Notes into shares of common stock of the Company at the then applicable conversion rate shall be changed into a right to convert such principal amount of Notes solely into a number of units of Reference Property in an aggregate amount equal to the applicable conversion rate in effect on the conversion date (as may be increased by any Additional Shares), multiplied by $63.15 , the price paid per share of Common Stock in the Merger. Because the Merger constituted a Make-Whole Fundamental Change, the Notes are convertible, at the option of the Holder, at any time from the Effective Date until 5:00 p.m. , New York City time, on the business day immediately preceding the Fundamental Change Purchase Date to be determined by the Company and separately announced to the Holders in accordance with the terms of the Indentures as a result of the Merger (the " Conversion Period "). Also because the Merger constituted a Make-Whole Fundamental Change, the conversion rate for the 2027 Notes will be temporarily increased during the Conversion Period. Such conversion rate per $1,000 principal amount of the 2027 Notes increased by 3.2973 units of Reference Property from 13.6304 units of Reference Property to 16.9277 units of Reference Property. The Company's conversion obligation with respect to Notes that are converted prior to the end of the Conversion Period will be fixed at an amount in cash equal to $591.602 per $1,000 principal amount of the 2025 Notes validly surrendered for conversion, and $1,068.984 per $1,000 principal amount of the 2027 Notes validly surrendered for conversion. The right of the Holders to convert their Notes is separate from the right, at the Holder's option, to submit their Notes for purchase upon a Fundamental Change. If a Holder submits a Fundamental Change Purchase Notice, such Holder may not surrender such Notes for conversion unless the Holder validly withdraws such Fundamental Change Purchase Notice prior to the Fundamental Change Expiration Time. Holders should review the applicable Indenture carefully and should consult with their own financial and tax advisors. None of the Company, Merger Sub, Parent or any of their respective affiliates, or any of its or their respective boards of directors, employees, advisors or representatives or U.S. Bank Trust Company, National Association, in its capacity as trustee, paying agent or conversion agent with respect to the Notes, is making any representation or recommendation to any Holder as to whether or not to surrender or convert that Holder's Notes. The Trustee, Paying Agent and Conversion Agent is: U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION Corporate Actions 111 Fillmore Avenue St. Paul, MN 55107-1402 Telephone: (800) 934-6802 Email: cts.specfinance@usbank.com Any questions or requests for assistance in connection with the conversion of the Notes may be directed to U.S. Bank Trust Company, National Association, in accordance with the contact information listed above, or the Company. About Envestnet Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6.5 trillion in platform assets—more than 111,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients. Data as of 9/30/24. View original content to download multimedia: https://www.prnewswire.com/news-releases/envestnet-inc-announces-make-whole-fundamental-change-and-supplemental-indentures-under-its-0-75-convertible-notes-due-2025-and-2-625-convertible-notes-due-2027--302317032.html SOURCE Envestnet, Inc.Could Loneliness Be More Dangerous Than You Think? Study Links It To Dementia
DETROIT (AP) — Starting in September of 2027, all new passenger vehicles in the U.S. will have to sound a warning if rear-seat passengers don't buckle up. The National Highway Traffic Safety Administration said Monday that it finalized the rule, which also requires enhanced warnings when front seat belts aren't fastened. The agency estimates that the new rule will save 50 lives per year and prevent 500 injuries when fully in effect, according to a statement. The new rule will apply to passenger cars, trucks, buses except for school buses, and multipurpose vehicles weighing up to 10,000 pounds. Before the rule, seat belt warnings were required only for the driver's seat. Under the new rule, outboard front-seat passengers also must get a warning if they don't fasten their belts. Front-center seats will not get a warning because NHTSA found that it wouldn't be cost effective. The agency said most vehicles already have warnings for the outboard passenger seats. The rule also lengthens the duration of audio and visual warnings for the driver's seat. The front-seat rules are effective starting Sept. 1 of 2026. Rear passengers consistently use seat belts at a lower rate than front passengers, the agency says. In 2022, front belt use was just under 92%, while rear use dropped to about 82%. About half of automobile passengers who died in crashes two years ago weren’t wearing belts, according to NHTSA data. The seat belt rule is the second significant regulation to come from NHTSA in the past two months. In November the agency bolstered its five-star auto safety ratings to include driver assistance technologies and pedestrian protection. Safety advocates want the Department of Transportation, which includes NHTSA, to finish several more rules before the end of the Biden administration, because President-elect Donald Trump has said he’s against new government regulations. Cathy Chase, president of Advocates for Highway and Auto Safety, urged the department to approve automatic emergency braking for heavy trucks and technology to prevent impaired driving.Hydreight Reports Record Topline1 Revenue of $6.12M in Q3-2024 (YOY Increase of 54%) and achieved positive Adjusted EBITDA1
( MENAFN - Jordan Times) AMMAN - The Embassy of Kingdom of Netherlands has invited Ahmed Oweir during an event for its PROSPECTS programme in June to share his story with the partners and media on benefiting from the programme to the refugees community in Jordan. Syrian refugee Ahmed Oweir, 26, is one of the beneficiaries of the "Mashreq" Entrepreneurship Programme, implemented by the International Finance Corporation (IFC) and other implementers of PROSPECTS programme, which was concluded in June 2024, and resumed phase two for more four years. Oweir is the CEO of a platform which is serving many young people in the fields of education, commerce, working opportunities. The platform was established in 2017 as a courses providing platform for educational purposes. Then the platform was developed to provide two services: training and livelihood courses and selling second-hand clothes and furniture. Unable to continue his school after 8th grade due to the financial difficulties of his six-member family, Oweir said he decided to establish an educational platform. "I had to work with my father for around 12-13 hours a day to help in providing for the family." The platform then was developed to include more services such as advertising installing tiles, scraping and marble. The "Scrap" platform is founded for engaging sellers and buyers with taking into consideration "SDG no. 3" on environment. At the beginning of his journey, he said he learned technology by a borrowed laptop and faced difficulties in finding courses which are not misleading due to his lack of knowledge Engaging in the acceleration courses through "Mashreq Incubator," he said was able to access a network of lawyers and entrepreneurs. "Scrap" online platform is now on the level of competing with other famous platforms such as "Open Souq", "OLX" and "Market Place". The "Scrap" platform has seven employees, and recorded 50 per cent products, 20 per cent subscriptions, he said. Now, "Oweir is the co-lead for the StartMashreq programme, an IFC advisory programme launched in 2023. The programme offers mentorship, coaching, and support to entrepreneurs in underprivileged communities," IFC said in its website. MENAFN16122024000028011005ID1109000139 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Tributes have been paid to a cyclist who died following a collision involving a lorry in Dublin last Thursday. The man, aged in his fifties, was fatally injured in the incident which occurred at the junction of College Road and Castleknock Village at about 4.30pm. The deceased has been named locally as Derek Doyle, a well-known local and husband of Fingal councillor Tania Doyle. Mayor of Fingal, Cllr Brian McDonagh, and the Chief Executive of Fingal County Council, AnnMarie Farrelly have offered their condolences to Cllr Tania Doyle and her family. They described Mr Doyle as “a big supporter of her political career”. “It was with deep shock that I learned of the death of Derek Doyle, husband of Cllr Tania Doyle,” Mayor of Fingal, Cllr Brian McDonagh, said in a statement issued on Christmas Eve. "He was a big supporter of her political career and, on behalf of all the councillors and residents of Fingal, I would like to extend my condolence to Cllr Doyle and her family on this sad and tragic news. Solas síoraí dó.” Mr Doyle was also the father of Fingal County Council colleague, Hazel Doyle. Gardaí are still appealing for any witnesses to this collision to come forward. Any road users who may have camera footage (including dash-cam) and were travelling in the area at the time are asked to make this footage available to investigating Gardaí. Anyone with any information is asked to contact Blanchardstown Garda Station on 01 666 7000, the Garda Confidential Line on 1800 666 111, or any Garda Station.hapabapa Co-authored by Noah Cox and Brock Heilig. Investment Thesis Micron Technology, Inc. ( NASDAQ: MU ) shares are up roughly 2.6% since the last time I wrote about the memory chip company. When I last covered Micron Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Noah Cox (main account author) is the managing partner of Noah’s Arc Capital Management. His views in this article are not necessarily reflective of the firms. Nothing contained in this note is intended as investment advice. It is solely for informational purposes. Invest at your own risk. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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