Latest news with #Annual
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
ABRDN JAPAN EQUITY FUND, INC. (JEQ) ANNOUNCES RESULTS OF SPECIAL STOCKHOLDER MEETING RELATING TO PROPOSED REORGANIZATION WITH ABRDN GLOBAL INFRASTRUCTURE INCOME FUND (ASGI) AND RESULTS OF THE ANNUAL G
PHILADELPHIA, July 25, 2025 /PRNewswire/ — abrdn Japan Equity Fund, Inc. (NYSE: JEQ) announces results of its annual general meeting ('Annual Meeting') and special meeting of stockholders (the 'Special Meeting') held today, July 25, 2025. Stockholders of JEQ (the 'Fund') voted to approve the reorganization of JEQ into abrdn Global Infrastructure Income Fund, a New York Stock Exchange-listed closed-end fund trading under the symbol 'ASGI' (the 'Reorganization'). As of the record date, June 13, 2025, JEQ had outstanding 14,145,970 shares of common stock, of which 74.7% were voted at the Special Meeting representing a quorum. Stockholders of the Fund voted on the proposal set forth below: Proposal: To approve an Agreement and Plan of Reorganization providing for the transfer of all of the assets of the Fund to abrdn Global Infrastructure Income Fund (the 'Acquiring Fund') in exchange solely for newly issued common shares of beneficial interest of the Acquiring Fund (although cash may be distributed in lieu of fractional shares) and the assumption by the Acquiring Fund of all or substantially all liabilities of the Fund and the distribution of common shares of beneficial interest of the Acquiring Fund to the stockholders of the Fund and complete liquidation of the Fund. Votes For Votes Against/Withheld Votes Abstained 10,016,314 528,477 19,050 Prior to the Reorganization, the Fund will conduct a cash tender offer to purchase up to 50% of the issued and outstanding shares at a price per share to be equal to 98% of the Fund's net asset value ('NAV') per share as determined by the Fund on the next business day following the expiration date of the tender offer. Full details and timing of the tender offer will be shared with stockholders in August 2025. It is currently expected that the Reorganization will be completed in the fourth quarter of 2025 subject to (i) payment of the cash tender offer and (ii) the satisfaction of customary closing conditions. More details on timing of the Reorganization will be announced in due course. Also held today was the Fund's Annual Meeting at which approximately 89.6% of outstanding common stock was voted representing a quorum. At the Annual Meeting, stockholders of the Fund voted on the proposals set forth below: Proposal 1: To consider and vote upon the election of two Class II Directors of the Fund to serve until the 2028 Annual Meeting of Stockholders, or until each such Director's successor is duly elected and qualified. Votes For Votes Against/Withheld Votes Abstained Alan Goodson 12,223,657 421,607 31,020 Rose DiMartino 12,211,238 435,130 29,916 Proposal 2: To consider the continuation of one Class I Director under the Fund's Corporate Governance Policies Votes For Votes Against/Withheld Votes Abstained Radhika Ajmera 12,207,346 438,964 29,975 Important Information In the United States, Aberdeen Investments is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited. The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Closed-end funds are traded on the secondary market through one of the stock exchanges. Investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that a fund will achieve its investment objective. Past performance does not guarantee future results.
India Today
20-07-2025
- Sport
- India Today
Play, Connect, Repeat: How turfs are transforming India's sporting spirit
Our finest memories of being a sports fan often circle around the time we used to make use of small roads and open fields for cricket or football. The rules were made on the fly, and it was all about playing until the call came from our families to return home—or when it got too dark to we grew older and moved to big cities—where fields were replaced by cubicles and conference rooms—the urge to enjoy sports remained. But in cities, space has always been an issue. Where do we get to play? Is there a place where you can just enjoy your favourite sport and connect with your friends over the weekend? Yes, the usual arguments about a foul or whether a catch was taken cleanly will continue as do sports enthusiasts have a space to play in India's major cities? The answer is yes. The turf culture in India has led to the rise of multiple small grounds with artificial surfaces, allowing people to enjoy their favourite sport. And it isn't just restricted to cricket and football. We have seen sports like hockey and pickleball benefit massively with new turfs coming in. A simple Google search for sports turf in Delhi will leave you spoilt for choice. And it's not just restricted to cricket and football—pickleball, hockey, and various other disciplines are also being included. According to a research report, India Artificial Turf Market Overview, 2028, published by Bonafide Research, the Indian artificial turf market is expected to grow at a 9.5% CAGR (Compound Annual Growth Rate) from 2023 to like Delhi, Mumbai, and even states like Kerala have seen this turf culture catch fire and gain momentum. But why has there been such a boom in turf culture in India? And what's the long-term goal for these turfs?Why the boom?Mr. Nasir Ali, Founder and CEO of Gallant Sports and Infra Ltd., has been a pioneer in the creation and maintenance of artificial turfs. His company has been at the forefront of this revolution in India—from building turfs in major cities to Changthang, Ladakh, and to our schools and colleges—promoting the growth of sports amongst the Ali, while talking to India Today, remembered the time he set up a futsal field in Mumbai in 2012 and how communities started forming around it."I was the first to set up a futsal field in India, back in 2012 in Mumbai. This idea was inspired by trends in countries like Australia, where people who hadn't played in years were getting back to sports. Communities started forming around futsal, box cricket, and now even pickleball and paddle tennis," said Mr. pointed out how working professionals, including high-level executives, have started using these turfs to connect and have fun. He feels the turf culture has become a community movement are community sports. After office hours, executives, business owners—everyone wants to play something quick and fun. In metros and Tier 1, Tier 2 cities, these smaller 5-a-side or 6-a-side turfs provide just that. The games are shorter, the ball doesn't fly out since the arenas are caged, and you can play a full game in 30 minutes to an hour. It's affordable too—around 200 rupees per person—and people love to hang out at these venues. That's what makes it special.""Turf culture is alive and thriving because people enjoy it. Whether it's Kerala, Goa, Mumbai, or even Bengaluru, people prefer spending an hour playing sports rather than sitting in a coffee shop. There are leagues happening now too—corporate tournaments, inter-district rivalries, university and college competitions. It's a community movement now," said Mr. Psychological Side of Turf Culture Is there a psychological side to this rise? Even before the COVID-19 lockdown era, we began noticing a shift in mentality—people becoming more conscious of trend has only grown in recent years, with more individuals enrolling in gyms and taking up sports to stay Sneha Sharma, Consultant Psychiatrist and Founder of Anvaya Healthcare, believes turfs offer a platform for people to bond while focusing on their fitness. She sees this as a major reason for the rise in turf culture in India—and why it likely won't fade anytime soon."One of the primary reasons is the changing lifestyle and societal structure. Earlier, people lived in extended families and familiar neighbourhoods where socialising and community play were natural. But now, with more people moving to cities for work and living in nuclear setups, there's a disconnect.""Cities themselves lack open spaces for casual play and community gatherings. This led to increased loneliness, which is now being recognised as a major issue. People are looking for ways to build connections. Turfs provide that platform—offering both socialisation and fitness. So yes, I think the rising turf culture is a response to both physical needs and a deeper social and emotional need for connection," said Dr. Sharma. "Physically, yes—people want to stay fit. But fitness can be achieved in many ways. What's unique about these turf-based activities is the social dimension they add."advertisement"Even in gyms, people form bonds. But when you're on a turf playing a sport, it naturally builds cooperation, teamwork, decision-making, and emotional regulation. These are valuable life skills. Playing team sports, in particular, offers mental health benefits like increased dopamine, serotonin, and endorphin levels. It lifts your mood and boosts your confidence. So yes, the mental well-being aspect plays a huge role in why turf culture is growing," said Dr. Sharma. Dr. Gaurav Bhardwaj, Director – Sports & Joint Replacement Surgeon at PSRI Hospital, Delhi, observed that the post-pandemic era has seen a rise in fitness awareness, with many heading to turfs to engage in sports."In the post-Covid era, one of the most encouraging trends we've witnessed is the significant rise in participation in draft sports and recreational physical activities. The pandemic served as a wake-up call for many, highlighting the importance of physical fitness and overall well-being. As a result, an increasing number of people are now seeking alternatives to traditional gym workouts—and finding them in the form of dynamic, engaging sports," said Dr. Bhardwaj. Much like Dr. Sharma, he also feels that team-based sports offer an ideal mix of physical exertion, mental stimulation, and social the sometimes monotonous routines of gym exercises, team-based and competitive sports offer an ideal mix of physical exertion, mental stimulation, and social interaction. These games provide a sense of camaraderie, entertainment, and emotional uplift, creating a far more sustainable and enjoyable path to health and fitness," said Dr. Turf Culture Produce the Next Indian Superstars?One natural question that arises is whether turf culture can produce the next generation of Indian sports superstars. We've seen how tennis ball tournaments have unearthed talents like Akash Deep and Akash Madhwal, who have made names for themselves in Indian cricket. Internationally, countries like Brazil have continuously produced talent from futsal and street football. So, can this be replicated in India?"Honestly, no. Superstars will come from schools, not from adults playing after office. We need larger facilities in schools and universities. Turf culture is leisure-based. It's not a professional training environment," said Mr. Ali. Dr. Sharma shared a similar view, noting that more structured training is required, which turfs may not always provide."Turf-based formats are often modified versions of the original game—5-a-side football or box cricket, for example. They're more recreational than competitive.""So, while these spaces are excellent for discovering an interest in sports, they aren't structured or intense enough to consistently produce elite athletes. Training, coaching, structured competition—all of that is still required," said Dr. Sharma. However, Mr. Ali believes turf culture plays a crucial role in the overall development of a sporting ecosystem."But it's crucial for overall sporting culture. If adults start playing, children get inspired. Right now, kids go home after school and jump onto their mobile phones or iPads. If they see their parents going to sports arenas instead of malls, they'll be encouraged to play too. It's about creating that ecosystem," said Mr. Ali. Dr. Sharma agreed and added that turfs can serve as a gateway for deeper sporting engagement."Turfs can absolutely serve as a gateway. A young person might discover they love football or cricket on a turf, and then choose to pursue it more seriously elsewhere. It's about creating awareness and access. And when that happens across communities, it builds a stronger foundation for sports culture in general," said Dr. Sharma. With India aiming to host the 2036 Olympics and more major sporting events in the near future, these turfs can certainly serve as a starting point. While for the current generation they may be a way to escape the monotony of daily life, for the younger generation, they could be the spark that ignites a lifelong love for the game.- Ends
Daily News Egypt
13-07-2025
- Business
- Daily News Egypt
Egypt participates in permanent bureau meeting of Arab Central Bank Governors in Abu Dhabi
Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), took part in the Annual Meeting of the Permanent Bureau of the Council of Arab Central Banks and Monetary Authorities' Governors, held on Sunday, 13 July 2025, in Abu Dhabi. The meeting is a preparatory step ahead of the Council's 49th Annual Meetings, scheduled for September 2025. On this occasion, Abdalla reaffirmed the CBE's strong commitment to active participation in all committees and working groups under the Council's umbrella. He underscored the importance of unified efforts to deepen integration among Arab central banks and reinforce joint coordination. Abdalla also stressed the shared goal of establishing resilient Arab banking frameworks capable of responding effectively to regional and global economic and financial challenges. During the meeting, participants reviewed the outcomes of several specialized Arab committees operating across key banking and financial sectors. These included the Arab Committee on Banking Supervision, the Arab Committee on Payment and Settlement Systems, the Arab Committee on Credit Information, the Arab Financial Inclusion Task Force, the Financial Stability Task Force, the Arab Regional FinTech Working Group, and the Arab Green and Sustainable Finance Network. The meeting further discussed progress on the preparation of the Arab Financial Stability Report and the Joint Arab Economic Report for 2025, which are slated for approval at the Council's upcoming annual gathering. Additionally, participants reviewed and proposed topics for inclusion in the 2025 Unified Arab Discourse, which will be presented at the Annual Meetings of the World Bank Group and the International Monetary Fund in October. This discourse aims to reflect the collective priorities and perspectives of Arab countries on global economic issues.
Mint
04-07-2025
- Business
- Mint
India for collective action by Global South to deal with current challenges: FM
New Delhi, Jul 4 (PTI) Finance Minister Nirmala Sitharaman on Friday emphasised the need for decisive collective action by the Global South to deal with multiple uncertainties arising out of fiscal constraints in several economies and evolving geopolitical dynamics. She was speaking at the Annual Meeting of Board Governors of the New Development Bank (NDB) at Rio De Janeiro, Brazil on 'Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South'. Sitharaman said the meeting is taking place at a defining moment for the Global South, as the world grapples with multiple uncertainties arising from fiscal constraints in several economies, climate transition issues and evolving geopolitical dynamics. "In response to these challenges, our collective action must be decisive, inclusive, and forward-looking," she said. The New Development Bank (NDB) has been established by BRICS nations. She noted that MDBs play a pivotal role in complementing our efforts in tackling these uncertainties. "MDBs have a distinctive comparative advantage in their ability to catalyse both public and private investments by offering a package of technical expertise, concessional financing, and effective risk mitigation tools thereby widening our policy options," she said. In this context, Sitharaman added that NDB has emerged as a key partner -- channelising development finance, supporting resilient infrastructure, and fostering meaningful cooperation across the Global South through a pragmatic and responsive approach. "India reaffirms its steadfast commitment to inclusive, sustainable, and innovation-led development of the global south," she said. Sitharaman said India's efforts led to the landmark inclusion of the African Union as a permanent member of the G20 to ensure that the Global South plays a pivotal role in discussions about issues impacting them. She told the gathering that the Indian economy has demonstrated remarkable growth and resilience in the post-pandemic era. Strong focus on macroeconomic stability, targeted efforts to promote digitalisation and inclusive policy design have been instrumental in achieving this, despite facing multiple domestic and external challenges. "India is poised to remain one of the fastest growing economies globally in the coming years," she said. She further said over the past decade, NDB has emerged as a credible institution with its client focus, agile response and financing several key infrastructure projects. As the Bank enters its next phase of growth, it must focus on strategic priorities, she said. "Mobilising private capital is key to sustaining growth given the limited fiscal space and competing demands for public capital expenditure. NDB should play a catalytic role in unlocking private sector capital," she said. Special focus must be placed on tailored support for Small and Medium Enterprises, especially women-led enterprises, to ensure inclusive participation, economic development and promote gender equity, Sitharaman added. She said that NDB has shown that a Global South-led institution can deliver development solutions that are timely, trusted, and context-specific. The Bank should foster cross-country partnerships to promote knowledge exchange, policy innovation, and technical cooperation, Sitharaman said. "India stands ready to collaborate with NDB in sharing successful models, such as our achievements in digital public infrastructure, scaling up renewable energy adoption, for broader replication," she said, adding that robust governance and transparent institutional mechanisms are vital for enhancing the credibility and effectiveness of the NDB. Continued focus on accountability, responsiveness, and stakeholder trust must remain a priority to ensure the Bank's long-term sustainability, she said while assuring India's continued cooperation with NDB, the member countries, and the stakeholders in this journey.
Business Wire
30-06-2025
- Business
- Business Wire
AstroNova Announces Executive Leadership Change
WEST WARWICK, R.I.--(BUSINESS WIRE)-- AstroNova, Inc. (Nasdaq: ALOT), a leading innovator in data visualization technology, announced today that Darius G. Nevin, a member of the AstroNova Board of Directors, has been appointed as Interim President and Chief Executive Officer, effective June 29, 2025. The Board will initiate a search for a successor to former President and Chief Executive Officer, Gregory A. Woods, who resigned from the role. The search will evaluate both internal and external candidates. Richard S. Warzala, Lead Independent Director of AstroNova, stated, 'These actions reflect an acceleration of our succession plans, and we are fortunate to have had Darius recently join the Board and to step into this interim role. In addition to his extensive public company executive experience, Darius has the talent, capabilities and time to devote to leading AstroNova while the Board conducts a search to identify and select his replacement. We expect that Darius can effectively address the situation the Company is tackling with the MTEX acquisition and the many changes the Company is implementing under new Product Identification segment leadership.' In addition to relinquishing his role as President and Chief Executive Officer, Mr. Woods also resigned from AstroNova's Board of Directors. Mr. Nevin's experience includes having served for nine years as Chief Financial Officer at then publicly traded Protection One, Inc., one of the largest security monitoring companies in the United States. He was instrumental in orchestrating a comprehensive financial turnaround of the business that significantly enhanced operational efficiency and ultimately culminated in the successful sale of the company. He is a director on the boards of (Nasdaq: ALRM), a global leader in internet-of-things security and automation solutions, and drug testing company Psychemedics Corporation, where he also serves as Chairman. Previously, he was on the Board of Directors of WCI Communities, Inc., a luxury homebuilder, from its initial public offering on the NYSE in 2013 until its sale in 2017. Mr. Nevin received a bachelor's degree from Harvard University and an M.B.A. from the University of Chicago Booth School of Business. As a result of this material change to the Company's Board of Directors and management, the Company's Annual Meeting of Shareholders, which had been scheduled for July 9, 2025, has been postponed and will be rescheduled. The Company will announce the new date for the Annual Meeting as soon as practicable. About AstroNova AstroNova (Nasdaq: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes and services a broad range of products that acquire, store, analyze, and present data in multiple formats. Its strategy is to drive profitable growth through innovative new technologies, building its installed base to expand recurring revenue while strategically sourcing its replacement products. The Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for OEMs, commercial printers, and brand owners. The Aerospace segment provides products designed for airborne printing solutions, avionics, and data acquisition. Aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Data acquisition systems are used in research and development, flight testing, missile and rocket telemetry, production monitoring, power, and maintenance applications. For more information please visit: Forward-Looking Statements Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect AstroNova's current expectations concerning future events and results. These statements may include the use of the words 'believes are ,' 'expects,' 'intends,' 'plans,' 'anticipates,' 'likely,' 'continues,' 'may,' 'will,' and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning AstroNova's anticipated performance, involve risks, uncertainties and other factors, some of which are beyond AstroNova's control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to (i) the risk that the changes we have made to our Board and executive leadership team will not lead to the improved results we expect; and (ii) those factors set forth in AstroNova's Annual Report on Form 10-K for the fiscal year ended January 31, 2025, and subsequent filings AstroNova makes with the Securities and Exchange Commission. AstroNova undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release. Important Additional Information In connection with its 2025 Annual Meeting of Shareholders, AstroNova has filed a definitive proxy statement with the SEC and caused it to be mailed, together with an annual report and proxy card, to each of our shareholders. The proxy statement and a copy of the other materials that we file with the SEC from time to time, including our Annual Report on Form 10-K for the fiscal year ended January 31, 2025, may be obtained free of charge via the Internet at and through the Investor Relations page of our corporate website, In addition, investors and security holders may obtain free copies of the proxy statement, the annual report and other proxy materials by directing a written request to ALOTproxy@ The proxy statement and other relevant materials we have made or will make available contain important information about the director nominees and the other matters to be voted upon by shareholders at the 2025 Annual Meeting of Shareholders. AstroNova urges shareholders to read the proxy statement, and any other relevant materials we make available, before making any decision with respect to the matters to be voted upon at the 2025 Annual Meeting of Shareholders, including the election of directors.
