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  • Macquarie Group 3Q 2023 Trading Update

    February 07, 2023. SYDNEY. FY23 YTD net profit contribution substantially up on FY22 YTD mainly due to exceptionally strong results in commodities including gas and power contributions across all regions. Varied conditions for Macquarie’s diverse businesses in the three months to 31 December 2022 (3Q23) resulted in a good quarter for the Group Net profit after tax (NPAT) for the nine months to 31 December 2022 (FY23 YTD) slightly up on the nine months to 31 December 2021 (FY22 YTD) – a period which included a record December 2021 quarter (3Q22) result Macquarie's annuity-style businesses' (Macquarie Asset Management (MAM) and Banking and Financial Services (BFS)) combined 3Q23 net profit contribution1 substantially down on the prior corresponding period (3Q22) mainly due to larger green energy sector asset realisations in MAM in the prior corresponding period. This was partially offset by continued growth in BFS FY23 YTD net profit contribution significantly down on FY22 YTD primarily due to larger green energy sector asset realisations in MAM in the prior corresponding period. This was partially offset by continued growth in BFS Macquarie's markets-facing businesses' (Commodities and Global Markets (CGM) and Macquarie Capital) combined 3Q23 net profit contribution substantially up on prior corresponding period primarily due to the CGM result for 3Q23, which was substantially up on half year ended 30 September 2022 (1H23) driven by commodities including gas and power contributions across all regions partially offset by a lower level of realisations and lower fee and commission income in Macquarie Capital FY23 YTD net profit contribution substantially up on FY22 YTD mainly due to exceptionally strong results in commodities including gas and power contributions across all regions in CGM partially offset by a lower level of realisations and lower fee and commission income in Macquarie Capital Group financial position comfortably exceeds regulatory requirements Group capital surplus of $A12.5 billion 2, 3 Bank CET1 ratio 13.3% (Harmonised: 16.9%4), Leverage ratio 5.2% (Harmonised: 5.9%4), LCR 203%5, NSFR 117%5 Macquarie Group Limited (Macquarie) (ASX: MQG; ADR: MQBKY) today provided an update on business activity in the third quarter of the financial year ending 31 March 2023 (3Q23). Macquarie Group Managing Director and Chief Executive Officer, Shemara Wikramanayake, said: “Varied market conditions have resulted in a good quarter for the Group reflecting the diversity of our activities.” The annuity-style businesses’ combined 3Q23 net profit contribution was substantially down on 3Q22. For FY23 YTD, net profit contribution significantly down on FY22 YTD, primarily due to larger green energy sector asset realisations in MAM in the prior corresponding period. This was partially offset by continued growth in BFS. The markets-facing businesses’ combined 3Q23 net profit contribution was substantially up on 3Q22. For FY23 YTD, net profit contribution was substantially up on FY22 YTD. This was mainly due to exceptionally strong results in commodities including gas and power contributions across all regions in CGM partially offset by a lower level of realisations and lower fee and commission income in Macquarie Capital. Macquarie Group’s financial position comfortably exceeds APRA’s Basel III regulatory requirements, with a Group capital surplus of $A12.5 billion2,3 at 31 December 2022, up from $A12.2 billion at 30 September 2022. The Bank Group’s APRA Basel III Common Equity Tier 1 capital ratio was 13.3 per cent (Harmonised: 16.9 per cent4) at 31 December 2022, up from 12.8 per cent at 30 September 2022. The Bank Group’s APRA leverage ratio was 5.2 per cent (Harmonised: 5.9 per cent4), the Liquidity Coverage Ratio (LCR) was 203 per cent5 and the Net Stable Funding Ratio (NSFR) was 117 per cent5 at 31 December 2022. Third quarter business highlights Ms Wikramanayake provided an overview of business activity undertaken during 3Q23: MAM had assets under management (AUM) of $A797.8 billion at 31 December 2022, broadly in line with 30 September 2022. In the quarter, Public Investments AUM fell one per cent to $A513.5 billion, driven by foreign exchange movements and net flows, partially offset by positive market movements. Private Markets AUM6 rose three per cent to $A284.3 billion, driven by fund investments and increased asset valuations. At 31 December 2022, Private Markets had equity under management of $A193.1 billion with $A31.6 billion to deploy after raising $A7.4 billion in new equity, investing $A5.3 billion and divesting $A0.5 billion. BFS had total deposits7 of $A125.7 billion at 31 December 2022, up eight per cent on 30 September 2022. The home loan portfolio of $A105.4 billion increased four per cent on 30 September 2022, while funds on platform8 of $A117.0 billion increased five per cent. During 3Q23, the business banking loan portfolio increased two per cent to $A12.5 billion, while the car loans portfolio decreased ten per cent to $A6.6 billion. CGM had exceptionally strong results across the commodities platform, particularly in global Gas & Power and Oil products, driven by increased trading, physical execution and logistics and client risk management opportunities from unusually volatile market conditions. CGM also saw solid contribution from client risk management, market access and financing activity across the Financial Markets businesses including fixed income, foreign exchange, credit, futures and equities. CGM also saw a strong performance from Asset Finance driven by Technology, Media & Telecoms and Structured Lending with strong annuity revenues continuing across the platform. Macquarie Capital completed 84 transactions globally valued at $A92 billion in 3Q239. Fee revenue was significantly down on prior corresponding period however up on prior period. Investment-related income was significantly down on the prior corresponding period and prior period, with significant realisations in the comparative periods. The Principal Finance credit portfolio stood at over $A16 billion10 with more than $A1 billion deployed in 3Q23 through focused investment in credit markets and bespoke financing solutions. Outlook The Group highlighted business-specific factors impacting its short-term outlook: Macquarie Asset Management Base fees expected to be broadly in line with raising and deployment in Private Markets and the impact of recent Public Investments acquisitions, substantially offset by unfavourable market movements Net Other Operating Income11 expected to be significantly down due to non repeat of Macquarie Infrastructure Corporation gains partially offset by higher performance fees Green Investment Group expected to be significantly down due to strong financial year ending 31 March 2022 (FY22) performance. Material gains on realisations in 1H23 not expected to recur in the half year ended 31 March 2023 (2H23) Banking and Financial Services Growth in loan portfolio, deposits and platform volumes Market dynamics to continue to drive margins Ongoing monitoring of provisioning Higher expenses to support volume growth, technology investment and regulatory requirements Macquarie Capital – subject to market conditions: Transaction activity is expected to be substantially down on a record FY22, with market conditions weakening in the financial year ending 31 March 2023 (FY23) Investment-related income expected to be broadly in line with FY22 with increased revenue from growth in the Principal Finance credit portfolio, offset by lower revenue from asset realisations. No material realisations are expected in the March 2023 quarter (4Q23) Continued balance sheet deployment in both debt and equity investments Commodities and Global Markets - subject to market conditions, which make forecasting difficult: Commodities income, which has benefitted from strong trading conditions in FY23 YTD, is expected to be substantially up on FY22, including the impact of timing of income recognition on gas and power transport and storage contracts Increased contribution from the Financial Markets platform across client and trading activity Continued contribution from Asset Finance across sectors (excluding FY22 gain on disposal of certain assets) From a Corporate perspective, the FY23 compensation ratio and effective tax rate are expected to be within the range of historical levels. We continue to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions us well to respond to the current environment. The range of factors that may influence our short-term outlook include: Market conditions including global economic conditions, inflation and interest rates, significant volatility events, and the impact of geopolitical events Completion of period-end reviews and the completion rate of transactions The geographic composition of income and the impact of foreign exchange Potential tax or regulatory changes and tax uncertainties Ms Wikramanayake said, “Macquarie remains well-positioned to deliver superior performance over the medium term. This is due to our deep expertise in major markets; strength in business and geographic diversity and ability to adapt the portfolio mix to changing market conditions; an ongoing program to identify cost saving initiatives and efficiency; ongoing technology spend across the Group; a strong and conservative balance sheet; and a proven risk management framework and culture.” Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income tax. All numbers in this presentation have been reclassified to reflect the transfer of the Green Investment Group from Macquarie Capital to Macquarie Asset Management effective 1 Apr 22. The capital surplus shown is above regulatory minimums including the capital conservation buffer (CCB), per APRA ADI Prudential Standard 110, calculated at 8.5% RWA on a Level 2 basis for Macquarie Bank Limited (MBL). This surplus also includes provision for internal capital buffers, forthcoming regulatory changes, as well as differences between Level 2 and Level 1 capital requirements, including the $A500m Level 1 operational capital overlay imposed by APRA from 1 Apr 21. Based on materiality, the 8.5% used to calculate the Group capital surplus does not include the countercyclical buffer (CCyB) of ~9bps. The individual CCyB varies by jurisdiction and the Bank Group’s CCyB is calculated as a weighted average based on exposures in different jurisdictions. Basel III applies only to the Bank Group and not the Non-Bank Group. ‘Harmonised’ Basel III estimates are calculated in accordance with the BCBS Basel III framework, noting that MBL is not regulated by the BCBS and so impacts shown are indicative only. APRA imposed a 15% add-on to the Net Cash Outflow component of the LCR calculation, and a 1% decrease to the Available Stable Funding component of the NSFR calculation, effective from 1 Apr 21. The LCR Net Cash Outflow add-on increased to 25% from 1 May 22. As at 31 Dec 22. Private Markets Assets under Management (AUM) is calculated as the proportional ownership interest in the underlying assets of funds and mandated assets that Macquarie actively manages or advises for the purpose of wealth creation, adjusted to exclude cross-holdings in funds and reflect Macquarie’s proportional ownership interest of the fund manager. Private Markets AUM excludes uninvested equity. Deposits in BFS include home loan offset accounts and exclude corporate/wholesale deposits. Funds on platform includes Macquarie Wrap and Vision. Dealogic & IJ Global for Macquarie Group completed M&A, investments, ECM and DCM transactions converted as at the relevant report date. Deal values reflect the full transaction value and not an attributed value. Comparatives are presented as previously reported. Principal Finance committed portfolio as at Dec 22. Net Other Operating Income includes all operating income excluding base fees as well as income related to Green Investment Group (GIG). Media contacts Australia and New Zealand T: +61 2 8232 2336 Email regional contact Americas T: +1 212 231 1310 Email regional contact Asia T: +852 3922 4772 Email regional contact Europe, Middle East and Africa T: +44 20 3037 4014 Email regional contact Source Link: https://www.macquarie.com/au/en/about/news/2023/macquarie-group-3Q-2023-trading-update.html

  • 11th Nongsa Neptune Regatta

    January 20-29, 2023. BATAM CITY, Indonesia. A Family Friendly Race and Convoy Boating Event to the Equator and Back. A Family Friendly Race and Convoy Boating Event to the Equator and Back. An Island Hopping Style Suitable for Sailing and Power Boats of All Sizes, Be It Beginners or Experienced Sailors. Per Person: SGD 2,200 INCLUSIVE OF: Entry Fee Participation in All Races Racing Skipper on Boat During Race Official Party and Ceremonies Meals on Board During Race Bareboat Charter: First 40.7 - USD 9,000 (New Laminate Racing Sails and Spinnaker. Use Only for 2 Races) Oceanis 45 - USD 9,000 (Dacron) X 3 Ker32 - USD 7,000 (New Laminate Sails, Used Only for 2 Regattas) RC44 - USD 20,000 (Dacron), USD 35,000 (New Laminate Sails) INCLUSIVE OF: Pre-race Boat Prep Bottom Cleaning On-shore Support for Repairs Delivery to Race Venue Crew to Assist With Boat Prep and Sailing During Regatta (When Required) Source Link: https://www.discoversailingasia.com/sailing-regattas

  • Interaction with media on ICICI Bank’s financial performance in the quarter ended December 31, 2022

    January 21, 2023. Media call on January 21, 2023: opening remarks Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions, political or economic instability in the jurisdictions where we have operations, increase in nonperforming loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, and the impact of the Covid-19 pandemic which could result in fewer business opportunities, lower revenues, and an increase in the levels of non-performing assets and provisions, depending inter alia upon the period of time for which the pandemic extends, the remedial measures adopted by governments and central banks, and the time taken for economic activity to resume at normal levels after the pandemic, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. This release does not constitute an offer of securities. Good evening everyone. Joining me today for this call is our Group Chief Financial Officer- Anindya Banerjee. Thank you all for joining us today. We hope that you are safe and in good health. Amidst the global uncertainties, India’s GDP growth has been resilient. The pickup in economic activity is reflected in the expanding purchasing managers’ indices, GST collections and other high frequency indicators. Financial stability has been maintained and inflation, though elevated, has moderated from its peak. We will continue to monitor these developments closely. At ICICI Bank, we aim to grow the core operating profit in a riskcalibrated manner through a 360-degree customer-centric approach and by focusing on ecosystems and micro-markets. We continue to operate within our strategic framework and strengthen our franchise, enhance our delivery and servicing capabilities and expand our technology and digital offerings. Our Board has today approved the financial results of ICICI Bank for the quarter ended December 31, 2022. I would like to highlight some key numbers: A. Profit and capital 1. Core operating profit, that is, profit before provisions and tax, excluding treasury income, grew by 31.6% year-on-year to 13,235 crore Rupees in Q3-2023. 2. Net interest income increased by 34.6% year-on-year to 16,465 crore Rupees in Q3-2023. 3. The net interest margin was 4.65% in Q3-2023 compared to 3.96% in Q3-2022 and 4.31% in Q2-2023. Net interest margin was 4.33% in 9M-2023 4. Fee income grew by 3.7% year-on-year to 4,448 crore Rupees in Q3-2023 5. The profit after tax grew by 34.2% year-on-year to 8,312 crore Rupees in Q3-2023. 6. The consolidated profit after tax grew by 34.5% year-on-year to 8,792 crore Rupees in Q3-2023 7. The standalone RoE was 17.6% in Q3-2023. 8. At December 31, 2022, the Bank had a net worth of about 1.9 lakh crore Rupees. Including profits for 9M-2023, CET-1 ratio was 17.1%, Tier 1 ratio was 17.6% and total capital adequacy ratio was 18.3%. B. Deposit growth 1. Total period-end deposits increased by 10.3% year-on-year to 11,22,049 crore Rupees at December 31, 2022. 2. Period-end term deposits increased by 14.2% year-on-year to 6,13,208 crore Rupees at December 31, 2022. 3. Average current account deposits increased by 7.9% year-on-year. 4. Average savings account deposits increased by 11.4% year-on-year. 5. We opened about 300 branches in 9M-2023 and had a network of 5,718 branches and 13,186 ATMs at December 31, 2022. 6. The Bank added about 11,200 employees in the last 9 months and had about 117,200 employees at December 31, 2022. C. Loan growth 1. The overall loan portfolio grew by 19.7% year-on-year and 3.8% sequentially at December 31, 2022. The domestic loan portfolio grew by 21.4% year-on-year and 4.2% sequentially at December 31, 2022. 2. The retail loan portfolio, excluding rural loans, grew by 23.4% year-on-year and 4.5% sequentially. Including non-fund outstanding, the retail loan portfolio was 44.9% of the total portfolio. The rural portfolio grew by 12.5% year-on- year and 3.8% sequentially. The business banking portfolio grew by 37.9% year-on-year and 5.2% sequentially. The SME business, comprising borrowers with a turnover of less than 250 crore 5 Rupees grew by 25.0% year-on-year and 8.3% sequentially. Growth in the domestic wholesale banking portfolio was 18.2% year-on-year and 4.7% sequentially at December 31, 2022. 3. 73.1% of the total loan portfolio, excluding, retail and rural, was rated A- and above at December 31, 2022 D. Digital initiatives 1. There have been around 86 lakh activations from non-ICICI Bank account holders on our mobile banking app, iMobile Pay as of end-December 2022. The value of transactions by non-ICICI Bank account holders on iMobile Pay during Q3-2023 was 2.3 times the value of transactions in Q3-2022. 2. The value of the Bank’s merchant acquiring transactions through UPI grew by 10.6% sequentially and 78% year-on-year in Q3- 2023. The Bank had a market share of about 30.6% by value in electronic toll collections through FASTag in Q3-2023, with a 22.2% year-on-year growth in collections. 3. The business banking and SME franchise continues to grow on the back of digital offerings and platforms like InstaBIZ along with the Bank’s extensive branch network. The value of financial transactions on InstaBIZ grew by about 29.2% year-on-year in Q3-2023. There have been about 215,000 registrations from non-ICICI Bank account holders on InstaBIZ till December 31, 2022. 4. The Bank has created more than 20 industry specific STACKs which provide bespoke and purpose-based digital solutions to corporate clients and their ecosystems. The Bank’s Trade Online and Trade Emerge platforms allow customers to perform most of their trade finance and foreign exchange transactions digitally. About 71.2% of trade transactions were done digitally in Q3 of this year. The value of transactions done through these platforms increased by about 59.3% year-on-year in Q3 of this year. 5. The Bank has launched a STACK for real estate sector to offer digital and phygital banking solutions on one platform for builders, Real Estate Investment Trusts (REITs) and Alternate Investment Funds (AIFs) covering the entire lifecycle from construction to leasing and selling the property as well as services for their customers, employees and vendors. 6. The Bank has also launched comprehensive digital solutions, value-added services and Trade APIs for exporters covering the entire export life cycle including discovery of export markets, export finance - Insta EPC, foreign exchange services and export incentives. E. Asset Quality 1. The net NPA ratio declined to 0.55% at December 31, 2022 from 0.61% at September 30, 2022 and 0.85% at December 31, 2021 2. During Q3-2023, there were net additions to gross NPAs of 1,119 crore Rupees compared to 605 Rupees crore in Q2-2023. 3. The gross NPA additions were 5,723 crore Rupees in Q3-2023 compared to 4,366 crore Rupees in Q2-2023. Recoveries and upgrades of NPAs, excluding write-offs and sale, were 4,604 crore Rupees in Q3-2023 compared to 3,761 crore Rupees in Q2- 2023. 4. The gross NPAs written off were 1,162 crore Rupees in Q3-2023. 5. The Bank did not sell any NPAs in Q3-2023. 6. The provisioning coverage ratio on NPAs was 82.0% at December 31, 2022. 7. The total fund based outstanding to all borrowers under resolution as per the various extant regulations declined to 4,987 crore Rupees or 0.5% of total advances at December 31, 2022 from 6,713 crore Rupees at September 30, 2022. The Bank holds provisions amounting to 1,529 crore Rupees against these borrowers under resolution, as of December 31, 2022. 8. The loan and non-fund based outstanding to performing borrowers rated BB and below reduced to 5,581 crore Rupees at December 31, 2022 from 7,638 crore Rupees at September 30, 2022. 9. The total provisions during the quarter were 2,257 crore Rupees or about 17.1% of core operating profit and about 0.93% of average advances. This includes contingency provisions of 1,500 crore Rupees made on a prudent basis. The Bank held contingency provisions of 11,500 crore Rupees at December 31, 2022. 10. During the quarter, we have revised our provisioning norms on non-performing assets to make them more conservative for corporate, SME and business banking. This change resulted in higher provisions amounting to about 1,196 crore Rupees in Q3- 2023. Going forward, we will continue to operate within our strategic framework while focusing on micro markets and ecosystems. The principles of “Fair to Customer, Fair to Bank” and “One Bank, One Team, One RoE” will guide our operations. We focus on building a culture where every employee in the Bank serves customers with humility and upholds the values of brand ICICI. We aim to be the trusted financial services provider of choice for our customers and deliver sustainable returns to our shareholders. With this, I conclude my opening remarks. I will be happy to take your questions. Source Link: https://www.icicibank.com/content/dam/icicibank/managed-assets/docs/investor/quarterly-financial-results/2023/2023_01_Media_speech_Q3-2023.pdf

  • Beijing Stock Exchange Issues Rules for Implementing Market Making Transactions

    January 19, 2023. BEIJING, China. The relevant market-making trading model has rich practical experience in the international securities market. On January 19, 2023 , Beijing Stock Exchange (hereinafter referred to as "CBEX") issued the "Beijing Stock Exchange Stock Market Making Transaction Business Rules" (hereinafter referred to as "Market Making Rules") and "Beijing Stock Exchange Stock Market Making Transactions" The "Guidelines for Market Making Business" (hereinafter referred to as the "Guidelines for Market Making") stipulates the procedures, rights and obligations, supervision and management of securities companies carrying out the stock market making business of the Beijing Stock Exchange. The "Market Making Rules" and "Market Making Guidelines" will come into effect on the date of promulgation. CBEX market-making adopts a mixed trading system that implements simultaneous bidding and market-making in a single securities transaction. The relevant market-making trading model has rich practical experience in the international securities market. On the basis of bidding transactions, the CBEX introduces market makers to implement a mixed trading system, which helps to increase the depth of market orders, improve market stability, narrow market bid-ask spreads, reduce investor transaction costs, introduce incremental funds, and improve market liquidity , High-quality expansion of the service market. In the early stage, CBEX publicly solicited opinions from the market on the "Market Making Rules" and "Market Making Guidelines". Judging from the feedback, all parties in the market actively supported the launch of the market-making system by CBEX, generally recognized the content of the rules, and actively offered advice and suggestions on business details. CBEX conducted in-depth analysis and extensive research on market opinions, and fully adopted reasonable opinions among them. The revised "Market Making Rules" consists of five chapters and 34 articles. The main contents include: First , clarify the application and termination of market making services. CBEX implements trading authorization management for market makers, and members who have obtained the qualifications for market-making trading business of listed securities can file for market-making for specific stocks after opening the market-making trading authorization. At the same time, sponsoring institutions are encouraged to provide market-making services for the stocks they sponsor. The second is to clarify the rights and obligations of market makers. Market makers should continue to provide the market with two-way quotations that meet the price difference and quantity requirements. CBEX will evaluate the development of the market-making business of market makers, and provide appropriate incentives to market makers who actively develop their business. The third is to clarify the supervision and management requirements of market makers. Market makers should establish a risk prevention and business isolation system and an abnormal transaction monitoring mechanism, and must not implement abnormal transaction behaviors to ensure that business is carried out in an orderly manner. The revised "Market Making Guidelines" consists of nine chapters and 60 articles, mainly on the basis of the relevant provisions of the "Market Making Rules" on the procedures for market makers to carry out stock market-making transactions on the Beijing Stock Exchange and the requirements for the supervision and management of market makers And evaluation incentive mechanism arrangements, internal management requirements for market makers, etc. have been further refined. During the early period of soliciting opinions on the rules, CBEX has organized various market participants to carry out technical system preparations and complete relevant tests. After the official release of the rules, CBEX will, under the unified leadership of the China Securities Regulatory Commission, further promote the completion of technological transformation by all market participants, and at the same time organize qualified members to carry out business preparations including authorization applications and stock filings, and make every effort to ensure that The business in the city was implemented smoothly. After all preparations are completed, CBEX will make another announcement to start market-making transactions. Announcement on Issuing the "Detailed Business Rules for Stock Market Making Transactions of Beijing Stock Exchange" Announcement on Issuing the "Guidelines for the Beijing Stock Exchange's Stock Market-Making Trading Business" Source Link: https://www.bse.cn/important_news/200014769.html

  • Gerindra Party Declaration

    February 2008. JAKARTA, Indonesia. Bismillahirrahmannirahim The realization of an Indonesian society that is free, sovereign, united, democratic, just and prosperous as well as civilized and godly based on Pancasila, as stated in the Preamble of the 1945 Constitution, is the common goal of all Indonesian people. To realize these ideals, it can only be achieved by maintaining national unity and unity, with the foundation of Pancasila. National culture and national insight must be the main capital to strengthen unity and integrity. So that the differences between us actually become a blessing and become the strength of the Indonesian nation. However, the majority of the people are still wallowing in suffering, our political system has never been able to formulate and carry out a national economy to raise the dignity of the majority of Indonesian people from poverty. Even in our efforts to build the nation, along the way we have been trapped by a market economic system. The market economic system has ravaged the nation's economy, causing a difficult situation for the life of the people and the nation. This has resulted in an increase in the number of poor and unemployed people. In such a situation, there is no other choice for this nation except to create an atmosphere of national independence by building a people's economic system. Called to give charity to the nation and people of Indonesia, by the grace of Allah the Almighty, we, the undersigned, DECLARATE THE ESTABLISHMENT OF THE RAYA INDONESIA MOVEMENT PARTY (GERINDRA). The Great Indonesia Movement Party is a people's party that longs for an Indonesia that is awake in spirit and body. The Great Indonesia Movement Party is a people's party that is determined to fight for prosperity and justice in all fields. Source Link: https://gerindra.id/deklarasi-partai-gerindra/

  • X-ray of payments with QR

    October 18, 2022. BUENOS AIRES, Argentina. Far from replacing one payment method with another, QR users use it as a complement to card payments: 85% maintained or increased their prepaid card transactions. According to data collected by Ualá, the use of QR as a means of payment has not stopped growing since its incorporation into the app towards the end of 2021. As of today, it is strongly linked to consumption by adolescents and young adults: 1 of Every 2 transactions are made by people under 24 years of age. The Transfers 3.0 initiative enabled anyone to pay with the QR they want in any business that accepts this modality, in a simple, fast and secure way. From what is recorded in terms of consumption, local businesses are the spaces in which it is used the most: 7 out of 10 transactions are made in supermarkets, food stores, kiosks and small businesses. Far from replacing one payment method with another, QR users use it as a complement to card payments: 85% maintained or increased their prepaid card transactions. In terms of geographic distribution, the Province of Buenos Aires participates in 43% of the country's total, Córdoba with 8% and Mendoza with 5%, as the main districts. Greater Buenos Aires concentrates 35% of transactions nationwide, with a predominance of the Autonomous City of Buenos Aires and the districts of La Matanza, Lomas de Zamora, Almirante Brown, Moreno, Florencio Varela, Merlo, San Miguel, Lanús and General San Martin. It should be noted that the range of 13 to 24 years is the one who uses it the most, being responsible for 53% of the total transactions. For its part, the segment from 24 to 44 years contributes 40% of the total. On average, the ticket is $1,500 pesos and increases according to the age of the users. “The interoperability and integration of collections and payments is a great advance within the universe of digital finance in Argentina, but there is still a long way to go. Today anyone can pay with a QR code in any store that accepts it, whatever wallet they have. From Ualá we are committed to continuing to build a more integrated and inclusive financial ecosystem, in which users can decide freely about their money” , said Romina Simonelli, VP of Means of Payment at Ualá. 5 years after its launch, Ualá offers a wide ecosystem of products, including the possibility of charging and paying with QR. With the Ualá Bis solution , businesses can charge their products and services quickly, safely and with immediate accreditation with a competitive commission scheme of 0% for the first three months and then 0.6% + VAT. To pay with QR through Ualá, the user has to enter the "Pay with QR" section and scan the code. In this way, depending on the available code, whether open or closed, the amount to be paid must be entered or displayed, respectively; to finally validate the payment with the security of the app and finalize the transaction. Institutional contact If you are a journalist and want to contact us, leave us your information here and we will contact you. If you want to invite a person from Ualá to give a conference/talk, leave us the details here .

  • The Supercars milestones on offer in 2023

    January 032023. REPCO SUPERCARS CHAMPIONSHIP Several drivers will celebrate significant milestones in the 2023 Repco Supercars Championship. Of the 25 contracted drivers, 17 are set to celebrate significant milestones throughout the year. By the end of the 2023 season, 21 of the 25 drivers will have made 100 or more race starts. One driver will become just the third to the 600-race milestone, with another cracking 500 starts. Drivers will also crack 400 starts and 300 starts, while four young guns will bring up 100 starts. The 2023 Repco Supercars Championship will commence in Newcastle on March 10-12. Tickets are on sale on Supercars.com and Ticketek.com. 600 races Mark Winterbottom’s seventh start of the year — set to be in Perth — will be his 600th. He will become just the third driver, after Craig Lowndes (675) and Garth Tander (642) to start 600 races. He will also pass Rick Kelly into third all-time for round starts, and will end the year on 275 round starts. Winterbottom’s debut came in the 2003 enduros for Stone Brothers Racing. 550 races The 22nd race of the year, which is set to be at The Bend, will be James Courtney’s 550th start. Only seven drivers — Lowndes (675), Tander (642), Russell Ingall (588), Rick Kelly (580), Jason Bright (577), Winterbottom (593) and Jamie Whincup (554) — have started 550 or more races. Courtney debuted in the 2005 enduros for the Holden Racing Team. 500 races Shane van Gisbergen will become just the ninth driver to start 500 races when he makes his 17th start in 2023. It is set to come in Townsville, where he has won 10 races. Van Gisbergen debuted as a teenager for Team Kiwi Racing at Oran Park in 2007. 400 races Tim Slade’s first start with PremiAir Racing, on the streets of Newcastle, will be his 400th career race start. He will be the 20th driver to start 400 or more races. Slade debuted for Paul Morris Motorsport in 2009. 300 races Both Walkinshaw Andretti United drivers will join the ‘300 club’ in 2023. Chaz Mostert’s 300th start will come in Race 4 (Albert Park) before Nick Percat chalks up the same milestone in Race 12 (Tasmania). Mostert debuted in 2013, and Percat in 2010. 250 races Cam Waters brought up 100 round starts and 200 race starts in 2022. In 2023, he will make his 250th race start, which is set to come in Adelaide. Waters debuted as a teenager at Mount Panorama in 2011. 150 races Macauley Jones will celebrate his 150th race start in Race 4 at Albert Park. Jones debuted in the 2015 enduros. 100 races Three young drivers are set to bring up 100 race starts in 2023 — James Golding, Jake Kostecki, and Will Brown. Second-year PremiAir driver Golding’s ninth start in 2023 will be his 100th start. The 17th race of the year, in Townsville, will be Jake Kostecki’s 100 start. Brown will record start No. 100 in Race 26 on the Gold Coast. 100 rounds Andre Heimgartner will celebrate his 100th round start in Perth. He scored his first Brad Jones Racing podium at the Wanneroo circuit in May last year. Heimgartner debuted in the 2014 enduros in a Super Black Falcon. 50 rounds Heimgartner’s BJR teammates Jack Smith and Bryce Fullwood will both bring up 50 round starts. Smith will hit 50 rounds in Sydney, and Fullwood at The Bend — the scene of his sole Supercars podium in 2020. James Golding will record his 50th round start in Perth. 50 races The two 2022 rookies — Thomas Randle and Broc Feeney — will record their 50th race starts in 2023. Randle will hit 50 in Perth, with Feeney to hit the number in Darwin. ATCC/Supercars race starts for full-time 2023 contracted drivers 593: Mark Winterbottom 528: James Courtney 518: Will Davison 483: Shane van Gisbergen 404: David Reynolds 399: Tim Slade 312: Scott Pye 296: Chaz Mostert 288: Nick Percat 223: Cam Waters 216: Andre Heimgartner 170: Jack Le Brocq 159: Todd Hazelwood 154: Anton De Pasquale 146: Macauley Jones 105: Jack Smith 101: Bryce Fullwood 91: James Golding 83: Jake Kostecki 74: Will Brown 71: Brodie Kostecki 42: Thomas Randle 36: Broc Feeney 1: Matt Payne, Cameron Hill ATCC/Supercars round starts for full-time 2023 contracted drivers 263: Mark Winterbottom 233: James Courtney, Will Davison 215: Shane van Gisbergen 187: David Reynolds 184: Tim Slade 137: Scott Pye 130: Chaz Mostert 129: Nick Percat 105: Cam Waters 96: Andre Heimgartner 78: Jack Le Brocq 71: Todd Hazelwood 67: Anton De Pasquale, Macauley Jones 48: James Golding 43: Jack Smith 42: Bryce Fullwood 34: Jake Kostecki 32: Will Brown 28: Brodie Kostecki 22: Thomas Randle 15: Broc Feeney 1: Matt Payne, Cameron Hill Source Link: https://www.supercars.com/news/championship/the-supercars-milestones-on-offer-in-2023/

  • Announcing Neuralink’s Patient Registry

    December 17, 2022. SAN FRANCISCO, US. Through the Patient Registry, we expect to increase our understanding of the medical and assistive technology needs of individuals at a larger scale in order to thoughtfully design future clinical trials and neurotechnology devices that meet these individuals’ needs. Over the last few years, we have worked with patient advocacy groups and a consumer advisory board consisting of individuals with spinal cord injury and their caregivers to guide product development and community engagement. As an expansion of these efforts, we’ve launched a Patient Registry to learn more about individuals who want to contribute to this initiative and who may be interested in enrolling in future Neuralink clinical trials, when they become available. Through the Patient Registry, we expect to increase our understanding of the medical and assistive technology needs of individuals at a larger scale in order to thoughtfully design future clinical trials and neurotechnology devices that meet these individuals’ needs. To apply and participate in the Patient Registry you must be at least 18 years old, meet the age of majority in your state, and be a U.S. citizen or permanent resident with any of the following: Tetraplegia or tetraparesis (paralysis or severe weakness in all four limbs) Paraplegia (paralysis in at least two limbs) Vision loss Deafness Aphasia (inability to speak) Participation in the Patient Registry is voluntary and you have the right to withdraw your consent at any time. To participate, you’ll have to complete the Patient Registry informed consent form, authorize Neuralink to access your medical records, and complete a questionnaire. There is no compensation nor anticipated benefit for participating in the Patient Registry; however, if you meet preliminary eligibility for a future Neuralink clinical trial you may be contacted with more information once it is available for enrollment. Your participation in the Patient Registry will not enroll you or guarantee enrollment in any future Neuralink clinical trial. Moreover, you don’t need to participate in the Patient Registry in order to participate in future Neuralink clinical trials. Currently, Neuralink does not have any clinical trials available. We want to build the future of brain-computer interfaces, and would like your help to build that future. With the right team, the potential applications for this technology are limitless! Interested in applying to the Patient Registry or learning more? Visit Neuralink’s Patient Registry here. Source Link: https://neuralink.com/blog/patient-registry/

  • IEEE International Conference on Computer Communications

    May 17-20, 2023. NEW YORK, US. For INFOCOM 2023, the conference includes a main technical program, a number of workshops, a keynote speech, panels, a student poster session, and demo/poster sessions. IEEE INFOCOM is a top-ranked conference on networking in the research community. It is a major conference venue for researchers to present and exchange significant and innovative contributions and ideas in the field of networking and closely related areas. IEEE INFOCOM covers both theoretical and systems research. Due to residual logistic issues associated with the COVID pandemic, INFOCOM 2023 conference site has been moved to the New York area, USA (from Tokyo, Japan) with new meeting dates of May 17-20, 2023. INFOCOM 2023 will be offered in hybrid mode with the in-person conference to be held on the beautiful campus of Stevens Institute of Technology, across the Hudson river from Manhattan, New York City. After holding INFOCOM virtually for three years, we are excited to be able to offer in-person experience of INFOCOM to our attendees in 2023. Source Link: https://infocom2023.ieee-infocom.org/

  • E*TRADE from Morgan Stanley Releases Monthly Sector Rotation Study

    January 03, 2023. VIRGINIA, US. E*TRADE from Morgan Stanley today released the data from its monthly sector rotation study, based on the E*TRADE customer notional net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors. About E*TRADE from Morgan Stanley and Important Notices E*TRADE from Morgan Stanley provides financial services to retail customers. Securities products and services offered by E*TRADE Securities LLC, Member SIPC. Investment advisory services offered by E*TRADE Capital Management, LLC, a Registered Investment Adviser. Commodity futures and options on futures products and services offered by E*TRADE Futures LLC, Member NFA. Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC. All separate but affiliated subsidiaries of Morgan Stanley. More information is available at www.etrade.com. The material provided by E*TRADE Securities LLC or its affiliates (E*TRADE from Morgan Stanley) is for educational purposes only and is not an individualized recommendation. This information neither is, nor should be construed as, an offer or a solicitation of an offer to buy, sell, or hold any security, financial product, or instrument discussed herein or to engage in any specific investment strategy by E*TRADE. Past performance does not guarantee future results. E*TRADE from Morgan Stanley, E*TRADE, and the E*TRADE logo are registered trademarks of Morgan Stanley or its affiliates. ETFC-G ETFC © 2023 E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Media Relations Contact 646-521-4418 mediainq@etrade.com Source Link: https://www.morganstanley.com/press-releases/e-trade-from-morgan-stanley-monthly-sector-rotation-study1

  • Matthews Asia Funds - JAPAN FUND

    June 20, 2022. LUXEMBOURG. Under normal market conditions, the Sub-Fund seeks to achieve its investment objective by investing, directly or indirectly, primarily (i.e., at least 65% of its total net assets) in publicly traded common stocks, preferred stocks and convertible securities of companies Located in or with Substantial Ties to Japan. 1. Name of the Sub-Fund Matthews Asia Funds – Japan Fund (hereinafter referred to as the “Sub-Fund”). 2. Investment Objective and Policy The Sub-Fund’s investment objective is to achieve long-term capital appreciation. Under normal market conditions, the Sub-Fund seeks to achieve its investment objective by investing, directly or indirectly, primarily (i.e., at least 65% of its total net assets) in publicly traded common stocks, preferred stocks and convertible securities of companies Located in or with Substantial Ties to Japan. On an ancillary basis, the Sub-Fund may invest in other permitted assets on a worldwide basis. The Sub-Fund promotes environmental and social characteristics according to Article 8 of SFDR. Furthermore, the Sub-Fund uses both activity- and norm-based exclusions. Information relating to the environmental and social characteristics of this Sub-Fund is available in Template III in this Prospectus. 3. Sub-Fund's Risk Profile The investments in equity securities and other assets the Sub-Fund may invest in involve risks linked to stock markets, including volatility risk, as described in section “Risk Considerations” of the main part of this Prospectus. The Sub-Fund’s investments are subject to market fluctuations. No assurance can, therefore, be given that the Sub-Fund’s investment objective will be achieved. Neither can it be guaranteed that the value of a Share in the Sub-Fund will not fall below its value at the time of acquisition. The primary benchmark index is the MSCI Japan Index and is indicated for performance comparison only. The Sub-Fund is actively managed and does not aim to replicate or track the primary benchmark. Consequently, the Investment Manager may freely select the securities in which it invests, and the Sub-Fund’s portfolio composition and performance may deviate materially from the primary benchmark. 4. Profile of the Typical Investor The Sub-Fund is suitable for investors who wish to gain exposure to Japanese equity markets. It is suitable for experienced investors wishing to attain defined investment objectives and accepting volatility that is inherent to equity markets with an investment horizon that is typically 5 years or longer. 5. Base Currency The Base Currency of the Sub-Fund is the USD. 6. Classes of Shares - A Class Shares (USD); - A Class Shares (GBP); - A Class Shares (EUR); - A Class Shares (JPY); - A Class Shares (SGD); - I Class Shares (USD); - I Class Shares (GBP); - I Class Shares (EUR); - I Class Shares (JPY); - I Class Shares (SGD); - S Class Shares (USD); - S Class Shares (GBP); - S Class Shares (EUR); - S Class Shares (JPY); - S Class Shares (SGD); - A Hedged Class Shares (USD); - A Hedged Class Shares (GBP); - A Hedged Class Shares (EUR); - I Hedged Class Shares (USD); - I Hedged Class Shares (GBP); Matthews Asia Funds 20 June 2022 - I Hedged Class Shares (EUR); - S Hedged Class Shares (USD); - S Hedged Class Shares (GBP); and - S Hedged Class Shares (EUR). Class A Shares and Class A Hedged Shares are available to all investors. Class I Shares and Class I Hedged Shares are subject to higher initial investment minimums than Class A Shares and are only available to investors whose investments meet those minimums or who are otherwise approved by the Fund. Class S Shares and Class S Hedged Shares are only available to investors who are approved by the Fund. Class S Shares and Class S Hedged Shares will only be available until the total net assets of the Sub-Fund reaches or is greater than USD 100,000,000, or any other amount as determined by the Fund (the “Seed Investment Limit”). Upon attaining the Seed Investment Limit, Class S Shares and Class S Hedged Shares may be closed to new investors at the discretion of the Fund. Class A, Class A Hedged, Class I, Class I Hedged, Class S and Class S Hedged Shares are available in the base currency of the Sub-Fund as well as such other currencies as may be determined by the Directors from time to time. Although it does not currently intend to do so, the Board of Directors, in its entire discretion, may seek to reduce currency risk from portfolio holdings denominated in local currency by hedging such risk to USD at the Sub-Fund level. The Board of Directors may also seek, in its entire discretion, to reduce currency risk of non USD denominated share classes by hedging USD to the currency of a relevant share class. Any such hedging may be, in full or in part, and may be active or passive. Moreover, the Board of Directors shall have no obligation to hedge. The costs and effects of any such hedging will be reflected in the NAV and in the performance of these classes. With respect to Hedged Share Classes of the Sub-Fund, the Board of Directors seeks to reduce currency risk of each Hedged Share Class by hedging exposure to fluctuations of the Predominant Currency of the Sub-Fund, the Japanese yen (“JPY”), against the Class Currency of the relevant Hedged Share Class, through foreign exchange transactions. For example, Class A, I and S Hedged Shares (USD) of the Sub-Fund will be hedged against JPY to reduce the effect of exchange rate fluctuations between JPY and USD; Class A, I and S Hedged Shares (GBP) of the Sub-Fund will be hedged against JPY to reduce the effect of exchange rate fluctuations between JPY and GBP; and Class A, I and S Hedged Shares (EUR) will be hedged against JPY to reduce the effect of exchange rate fluctuations between JPY and EUR. To achieve this hedging objective, the Investment Manager may, at its absolute discretion, engage, for the exclusive account of and at the cost of each Hedged Share Class, in foreign exchange transactions. The costs and effects of any such hedging will be reflected in the NAV and in the performance of the relevant Classes. These Classes of Shares may be offered as accumulation (Acc) or distribution (Dist) Shares, in the discretion of the Board of Directors. 7. Offer of Shares The minimum initial investment and holding amounts are as follows: (pls refer to pdf https://global.matthewsasia.com/siteassets/resources/fund-documents/prospectus/prospectus-matthewsasiafunds.pdf pg 124 item 7) Minimum initial investment amounts or minimum subsequent investment amounts will not apply when exchanging or transferring from one share class in a currency or distribution type (i.e., accumulation or distribution) to an equivalent share class in another currency and/or another distribution type within the same Sub-Fund, or when transferring existing holdings from one custody account to another. Minimum subsequent investment amounts will not apply if a shareholder’s aggregate account balance in a SubFund is greater than the minimum initial investment amount for the share class to be purchased in that same Sub-Fund. Shares will be issued at the current Net Asset Value per Share of the relevant Class of Shares on every Valuation Day plus any applicable sales charge of up to 5.26% of the applicable Net Asset Value per Share. 8. Applicable Valuation Day for Subscriptions, Redemptions and Conversions The Net Asset Value per Share in the Sub-Fund is calculated on every Business Day (each a “Valuation Day”). 9. Issue, Conversion and Redemption of Shares Requests for the issue and conversion of Shares must be received by 12 noon (Luxembourg time) on a Valuation Day in order to be dealt with on that Valuation Day. Subscription proceeds must be received in full within 3 Business Days following the relevant Valuation Day at the latest. Requests for the redemption of Shares must be received by 12 noon (Luxembourg time) on the Valuation Day on which the redemption is to be made. Redemption proceeds will generally be paid within 5 Business Days of the relevant Valuation Day. 10. Dividend Policy In relation to Shares referenced as “Acc” Shares, no distributions will be made and all interests and other income earned by the Sub-Fund will be reflected in the NAV of the Shares. In relation to Shares referenced as “Dist” Shares, it is the intention of the Board of Directors to undertake distributions at least annually. Investors should note that there is no guarantee that a distribution payment will be made for the “Dist” Shares at each period. Investors should read section “Distribution Policy” of the main part of the Prospectus. 11. Fees The Investment Manager receives a Management Fee, as shown below, calculated as an annual percentage of the NAV of the Sub-Fund on each Valuation Day. Such fees and any and all properly incurred expenses are payable out of the assets of the Sub-Fund monthly in arrears. In addition, the Investment Manager is entitled to an Administration Fee, as shown below, calculated as an annual percentage of the NAV of the Sub-Fund on each Valuation Day. Such fees and any and all properly incurred expenses are payable out of the assets of the Sub-Fund monthly in arrears. The Administration Fee is for administrative services provided to the Sub-Fund. The Total Expense Ratio for Class A, Class I and Class S Shares of the Sub-Fund, calculated on each Valuation Day, shall not exceed the per annum percentage of the NAV of the Sub-Fund calculated on each Valuation Day. (refer to pdf https://global.matthewsasia.com/siteassets/resources/fund-documents/prospectus/prospectus-matthewsasiafunds.pdf page 125)

  • IDX: Pos Indonesia Bond I Year 2022 Recording Ceremony on December 29, 2022

    December 29, 2022. JAKARTA, Indonesia. Rating results from PT Credit Rating Indonesia for Bond I Pos Indonesia Year 2022 On Thursday, 29 December 2022, trading hours for the Indonesia Stock Exchange (IDX) opened for the purpose of listing the 2022 Pos Indonesia Bonds I on 29 December 2022. The 2022 Pos Indonesia Bonds I listed with a nominal value of IDR 500,000,000,000.00 consist from: - Series A (POST01A) with a nominal value of IDR 100,000,000,000.00 for a period of 3 years; and - Series B (POST01B) with a nominal value of IDR 400,000,000,000.00 for a period of 5 years. The rating result from PT Credit Rating Indonesia for Bond I Pos Indonesia Year 2022 is irA– (Single A minus). Acting as Trustee in this issuance is PT Bank Tabungan Negara (Persero) Tbk. Source Link: https://idx.co.id/en/news/news/503c160e-e187-ed11-b808-005056aec3a4?id=9717

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