Latest news with #Asset
Business Recorder
3 days ago
- Business
- Business Recorder
SBP, Finance ministry inform NA body: ‘Cryptocurrency is not legal in Pakistan'
ISLAMABAD: The State Bank of Pakistan (SBP) and the Ministry of Finance on Thursday disclosed that the cryptocurrency is not legal in Pakistan and trading of cryptocurrencies is not permitted in the country. Both the SBP and the Finance Ministry stressed the need for a robust legal framework for trading of cryptocurrency in the country. 'Presently, cryptocurrency is banned in Pakistan,' they added. This was disclosed by officials of SBP and Finance Ministry during the meeting of National Assembly Standing Committee on Finance on Thursday. Pakistan establishes Digital Assets Authority to regulate crypto, blockchain According to the SBP officials, 'the SBP in 2018 issued instructions to the banks to prohibit trading of cryptocurrency in the country. Till now, it is not a legal tender. The SBP has given its recommendations to the Crypto Council.' The secretary Ministry of Finance informed the committee that 'very preliminary work has been done regarding cryptocurrency, but we need a proper legal framework in this regard.' MNA Mirza Ikhtiar Baig said there is a perception among the people that Pakistan has adopted the cryptocurrency and people have started making investment in the cryptocurrency. MNA Sharmila Faruqui questioned the recent policy shift prioritising digital currencies without addressing the associated regulatory deficiencies. The secretary Ministry of Finance informed the committee that Pakistan has not shifted its policy stance towards virtual assets. Rather, it is considering virtual assets with cautious and forward-looking approach for an informed decision on prospects of regulatory enablement. Towards this end, Pakistan Crypto Council (PCC) has been constituted with representation from the SBP, the Securities and Exchange Commission of Pakistan (SECP), and the Ministry of Finance (MoF). Under the umbrella of PCC, stakeholders' discussions on the feasibility of regulatory framework for crypto currencies and virtual assets are under way. The PCC is also exploring the beneficial use-cases to support responsible innovation in this area. This initiative aligns with FATF Recommendation 15, which mandates regulation and supervision of Virtual Asset Service Providers (VASPs). Given the growing interest in crypto-related activities, it is critical for Pakistan to build necessary legal and regulatory capacity to remain FATF-compliant before embarking on this journey. The SBP and SECP have advised their regulated entities to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/tokens. Further, the regulated entities were advised not to facilitate their customers/account holders to transact in virtual currencies/ICO tokens. Any transaction in this regard shall immediately be reported to Financial Monitoring Unit (FMU) as a suspicious transaction. These directives were issued due to the risks including high price volatility, closure of virtual currency exchanges and possibility of wallets hacking as well as risk of capital flight and financial instability. Under the direction of the General Committee, a National Working Group, led by the FIA was constituted and they are currently working in this regard. Both the Crypto Council and the Working Group are actively engaged in developing policy recommendations for legal and regulatory framework for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs). This process includes a thorough evaluation of the associated money laundering, terrorist financing (MUTE), and broader systemic risks. Given that virtual assets remain a rapidly evolving and inherently volatile domain, any potential future policy shift will be approached with the utmost caution. A structured and risk-based approach aligned with the 'Pakistan First' principle will guide any decision-making, ensuring that national financial security and regulatory readiness remain a priority. A multi-stakeholder consultative approach is being employed to ensure comprehensive risk management and policy cohesion. Recently, the government has formed PCC with the objective to have stakeholders' consultation on the feasibility of promoting responsible Innovation In digital assets under an appropriate regulatory framework. GoP has also hired technical experts for the PCC. The objective is to initiate a stakeholders' dialogue with crypto industry leaders to enhance the mutual understanding about the nature of the crypto/virtual assets, their business models, underlying technologies, and associated risks. Presently, Pakistan's legal framework on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) conforms to the international standards, particularly the Financial Action Task Force (FATF) Recommendations. Furthermore, Pakistan continues to engage with international partners i.e. FATF, APG and IMF to further strengthen its AML/CFT regime and ensure compliance and sustainability with global AMUCFT standards. Copyright Business Recorder, 2025
Yahoo
20-05-2025
- Business
- Yahoo
AngloGold Ashanti Trading Cheaper Than Industry: Buy the Stock?
AngloGold Ashanti PLC AU stock is trading at a forward price/earnings of 11.42X, a roughly 16% discount to the Zacks Mining – Gold industry's average of 14.27X. It also has a Value Score of B. Image Source: Zacks Investment Research The stock also remains attractively priced compared with peers such as Newmont Corporation NEM, Agnico Eagle Mines Limited AEM and Kinross Gold Corporation KGC. Image Source: Zacks Investment Research Is AU a smart buy based on its current valuation? Let's dig deeper. The AngloGold Ashanti stock has appreciated 85.9% year to date, outperforming the industry's 39.1% gain. Meanwhile, the Basic Materials sector has risen 6.4% and the S&P 500 has edged up 0.7%. AU has also delivered stronger returns than Newmont, Agnico Eagle Mines and Kinross Gold Corporation, as illustrated in the chart below. Image Source: Zacks Investment Research Solid Financial & Operational Results in Q1: The company reported first-quarter 2025 results on May 9. Earnings per share soared 529% year over year to 88 cents, driven by higher gold production, disciplined cost control and higher gold prices through the quarter. Gold production increased by 22% to 720,000, marking its strongest first-quarter performance since 2020. This reflected the first full-quarter contribution of 117,000 ounces from the recently acquired Sukari mine, as well as upbeat performances at Siguiri, Tropicana, Cerro Vanguardia and Sunrise average realized gold price surged 39% year over year to $2,874 per ounce. Adjusted EBITDA increased 158% year over year to $1.12 billion in the first quarter of 2025 from $434 million in the prior year quarter. Total cash costs per ounce for the group, however, were up 4% to $1,223 per ounce. All-in-sustaining costs per ounce (AISC) increased 1% to $1,640 per ounce, mainly due to higher sustaining capital expenditure, which was partly offset by higher gold sold. AngloGold Ashanti, meanwhile, remains focused on its Full Asset Potential program to offset the inflationary impacts. The company's average real cash costs are up 1% over the first quarter 2021-first quarter 2025 timeframe compared to more than 20% for its peer group (Agnico-Eagle Mines, Barrick Mining, Gold Fields, Kinross and Newmont). Image Source: AngloGold Ashanti Significant Debt Reduction and Strong Liquidity: AU's free cash flow increased almost seven-fold to $403 million in the first quarter, from $57 million in the year-ago quarter. It has managed to take down its adjusted net debt to $525 million, from the $1.322 billion at the year-ago quarter's end. The adjusted net debt to adjusted EBITDA ratio improved to 0.15X in the first quarter compared to 0.86X in the first quarter of 2024. AngloGold Ashanti ended the first quarter of 2025 with $3 billion in liquidity, including cash and cash equivalents of $1.5 billion. FY25 Guidance Affirmed: AngloGold Ashanti expects 2025 gold production between 2.9 and 3.225 million ounces. Total cash cost per ounce is forecast to range between $1,125 and $1,225 per ounce, and AISC at $1,580-$1,705 per ounce. Tailwinds From Rising Gold Prices: The metal has gained 23.5% year to date, riding on the escalating tariff tensions and geopolitical uncertainties. Gold is currently above $3,220 an ounce as lingering concerns over the U.S economic outlook and fiscal deficit continued to boost safe-haven demand. Gold prices are likely to continue to gain in this uncertain environment, with increased purchases by central banks, hopes of interest rate cuts and geopolitical tensions. This creates a favorable backdrop for AU. Strategic Growth Focus: AngloGold Ashanti is executing a clear strategy of organic and inorganic growth. In November 2024, it acquired Egyptian gold producer Centamin, adding the large-scale, long-life, world-class Tier 1 asset (Sukari) to its portfolio. It has the potential to produce 500,000 ounces annually. With this addition, the proportion of gold production from its Tier 1 assets has moved up from 62% to 67%. AU's mineral reserves went up to 31.2 million ounces at the end of 2024. It recently sold its interests in two gold projects in Côte d'Ivoire to Resolute Mining Limited to sharpen its focus on its operating assets and development projects in the United States. Obuasi remains a significant pillar of its long-term strategy. The company's focus this year is to continue the implementation of the underhand drift and fil UHDF mining method and make stoping improvements. This important orebody is expected to deliver around 400,000 ounces of annual production at competitive costs by 2028. At Siguiri, efforts are underway to improve mining volumes through ongoing improvements to fleet availability and utilization, and to introduce gravity recovery in the processing plant to further improve metallurgical recovery. The EPS estimates for 2025 and 2026 have been trending north over the past 60 days, as seen in the chart below. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Image Source: Zacks Investment Research The Zacks Consensus Estimate for AU's 2025 sales stands at $8.58 billion, suggesting 48.2% year-over-year growth. The consensus mark for the year's earnings is at $3.48, indicating year-over-year growth of 57.4%. The Zacks Consensus Estimate for sales for 2026 suggests 14.3% year-over-year growth, and the same for earnings indicates growth of 16.4%. Image Source: Zacks Investment Research Image Source: Zacks Investment Research Under its new dividend policy, AngloGold Ashanti aims to return 50% of its annual free cash flow, subject to maintaining an adjusted net debt to adjusted EBITDA ratio of 1.0 times. The dividend policy introduced an annual base dividend of 50 cents per share per year, payable in quarterly instalments of 12.50 cents per share. If required, a 'true-up' payment will be made in the final quarter of each year to ensure that the total dividends align with the 50% free cash flow payout target. This structure establishes a minimum return, offering stability to shareholders throughout commodity price cycles. AngloGold Ashanti's current 3.27% dividend yield is higher than the industry's 1.64%. In comparison, Newmont, Agnico Eagle Mines and Kinross Gold Corporation have a lower dividend yield of 1.96%, 1.48% and 0.86%, respectively. Image Source: Zacks Investment Research AngloGold's strategic actions to boost production and financial health, combined with rising earnings estimates and an industry-leading dividend yield, present a compelling investment case. Surging gold prices should also boost its profitability and drive cash flow generation. Its disciplined cost management should help offset inflationary pressures. With an attractive valuation, strong price performance relative to peers, and solid growth prospects, AU stands out as a promising opportunity. Adding this Zacks Rank #1 (Strong Buy) stock will be prudent for investors. You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report AngloGold Ashanti PLC (AU) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Klickl, WeBank and Goldford Group Partner to Drive Cross-Regional Fintech Innovation
Klickl, a regulated Web3 financial services provider, has signed a tripartite MoU with WeBank, a digital bank from Mainland China, and Goldford Group, an innovation-focused conglomerate in Hong Kong. The agreement sets out to create a cross-regional fintech innovation alliance connecting Mainland China, Hong Kong, and the Middle East. The MoU was signed during an official visit to Qatar by a delegation from Hong Kong and Mainland China, led by Hong Kong Chief Executive John Lee. This collaboration represents the first structured initiative linking fintech ecosystems across the Greater Bay Area and the Middle East. Klickl contributes its regulatory knowledge and experience in Web3 financial services within the Gulf region. WeBank provides technological expertise from Mainland China, while Goldford Group supports integration across Hong Kong's innovation landscape. The alliance will focus on several areas including the development of a blockchain and AI incubation platform, support for startup acceleration between Asia and the Middle East, delivery of next-generation financial services for cross-border applications, digital transformation support for traditional financial institutions, localisation of fintech solutions for Gulf markets, and the exploration of quantum technology for financial use cases. 'This partnership is more than symbolic, it is strategic,' said Michael Zhao, Founder and CEO of Klickl. 'As the only homegrown Web3 financial services provider in the region, we are proud to help bridge capital, compliance, and technology across three economic hubs. This alliance reflects not only our infrastructure readiness, but also the trust we've built with institutions across Asia and the Middle East.' Klickl is licensed by the Abu Dhabi Global Market (ADGM) under its Financial Services Permission (FSP) and holds Virtual Asset Service Provider (VASP) registration in the European Union. The firm provides Web3-native financial services including digital wallets (Klickl4U), institutional accounts (KlicklONE), payment infrastructure (KlicklPay), stablecoin services, asset custody, and trading infrastructure. It has also participated in official economic delegations to Malaysia, Poland, and Japan.
Time of India
17-05-2025
- Business
- Time of India
Flexi Cap vs. Multi Asset Allocation Mutual Funds: Which one is best for you?
Flexi cap funds Multi asset allocation funds Live Events Here are key differences between these two mutual fund categories Feature Flexi Cap Fund Multi Asset Allocation Fund Asset class focus Only equity (large, mid, small caps) Equity, Debt, Gold/Commodities SEBI Mandate Min. 65% in equity Min. 10% in each of 3 asset classes Risk Level Moderately high to high Moderate Return Potential Higher over long term Balanced returns, lower volatility Portfolio Management Active stock-picking across market caps Asset rebalancing among asset classes Investment Horizon 5+ years 3–5 years Which one suits you best? Way forward for these categories With the growing variety of mutual fund options, investors often face the dilemma of choosing the right type of fund for their goals. Two popular choices that offer diversification and dynamic strategies are Flexi Cap Funds and Multi Asset Allocation Funds. While they may seem similar in terms of flexibility and diversification, they cater to different investor needs and operate under different Cap Funds are equity-oriented mutual funds that invest across large-cap, mid-cap, and small-cap stocks. These funds are designed to give the fund manager complete flexibility in allocating investments across market capitalizations, based on prevailing market to the SEBI mandate, flexi cap funds must invest a minimum of 65% of their assets in equity. The remaining allocation can vary, allowing the manager to shift between large, mid, and small-cap segments as opportunities arise. These funds are ideal for investors who have a long-term investment horizon (at least five years) and are comfortable with moderate to high risk. The dynamic nature of these funds allows them to adapt to changing market trends, making them suitable for growth-oriented Asset Allocation Funds aim to reduce portfolio risk by investing in at least three different asset classes — typically equity, debt, and gold or other commodities. SEBI mandates that a minimum of 10% of the portfolio be invested in each asset class. These funds are automatically rebalanced to maintain the asset mix, offering both stability and diversification. Since they are not purely equity-focused, multi asset allocation funds tend to have lower volatility and are well-suited for moderate-risk investors who are looking for consistent returns over a medium to long-term horizon (3–5 years).Choosing between the two depends on your financial goals and risk appetite. If you are aiming for higher long-term growth and are comfortable with equity market fluctuations, a flexi cap fund may be the right choice. However, if you're seeking a balanced investment with exposure beyond equities and lower portfolio volatility, a multi asset allocation fund could be more appropriate. In fact, many investors may benefit from holding both in their portfolio, using flexi cap funds for growth and multi asset allocation funds for balance and both fund types offer flexibility and adaptability, understanding their core structure and objective is key to making the right investment decision. Matching your investment horizon and risk tolerance with the right fund category will help ensure a more effective and aligned the flexi cap funds, Rajesh Minocha, a Certified Financial Planner (CFP), Founder of Financial Radiance said that, 'A broad-based structural uptrend is yet to emerge. However, investors should continue to invest in flexi cap types of funds and let the fund managers do the stock picking of the sectors they are comfortable with. The selection of a good fund manager based on research and their investment philosophy will be very important.'While sharing the way forward for multi asset allocation funds, Vishal Dhawan, CEO, Plan Ahead Wealth Advisors, a wealth management firm in Mumbai comments that one can hold multi asset allocation funds in the portfolio especially in volatile markets as they can help preserve capital and deliver more stable returns over time compared to pure equity funds.'Gold, for instance, has emerged as one of the strongest-performing asset classes in recent years, especially during times of global uncertainty. Its presence in the portfolio can act as a natural hedge, offering protection when equities are under pressure. However, it is important for investors to understand the fund's asset allocation model and strategy as this will influence how the fund performs across different market cycles,' he should always choose a scheme based on risk appetite, investment horizon, and goals.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@ alongwith your age, risk profile, and Twitter handle.
Yahoo
16-05-2025
- Business
- Yahoo
Building college success for poverty-impacted Pierce County students
Community colleges nationwide are developing new measures to better serve our students and our local communities. While historically our success has been demonstrated by being open to all students and our progress in helping them complete their education, transfer and find jobs, we need to do more. Working with the national organization Achieving the Dream and 14 other colleges nationwide, Pierce College is introducing a new approach called community vibrancy. We are rethinking who we serve and seek not only to produce graduates but also to ensure that they will get jobs that pay a family-sustaining wage to support economic mobility and thriving communities. Our starting point is reaching out to working adults who earn above the federal poverty level but not enough to make ends meet due to the costs of housing, childcare, transportation and other needs. This group — introduced to us by the United Way as the Asset Limited, Income Constrained, Employed (ALICE) population — comprises about a quarter of residents in Pierce County and Washington state. While many industries in western Washington have placed a strong emphasis on bringing new employees into the state, we need to invest in local workers who live paycheck to paycheck. They have much to offer and the most to gain from a community college education. The jobs are there for local workers to find. Industries such as construction management; health care fields such as nursing, radiation technologists and dental hygienists; software development and engineering have unfilled jobs. About four in 10 (38%) of Washington employers say that a lack of qualified workers is one of the most important challenges facing their business today. To better reach and serve ALICE households, Pierce College is: Partnering with community organizations, serving them to build trusting relationships and increase awareness and support for students and families Partnering with other colleges to provide easily digestible information about applying to and paying for college (including accessing free financial aid) Eliminating unnecessary administrative requirements wherever possible Providing training, resources and support for our staff to best serve and champion the success of all students and families But we can't do this alone. We need the state to fully fund community and technical colleges and to incentivize collaborations across sectors. For example, there is a student housing crisis. We can't work in silos; rather we need to work with housing service providers and public housing authorities to develop systemic solutions. This approach should be extended to other challenges, including food access, child care, and other resources that will help students succeed in college and beyond. We are asking employers to collaborate with us in helping their current employees gain needed skills and further education. For example, we partner with local health care employers to train current LPN's to become RN's. The employers agree to support the students' class schedule and to provide clinical placements. Partnerships like this help create both consistency and stability for employers while reducing the need to recruit talent and risking high turnover. We are asking local and state governments to recognize — and amplify — the importance of our role in meeting local workforce needs and ensuring that all communities we jointly serve can realize their fullest potential. State policymakers and technical and community colleges want residents to have the education and skills to contribute to the workforce and their communities. Some residents have easy access to education; others have not had that. Prioritizing those who are being left behind is critical to the economic and social well-being of our communities and our state. Julie A. White is the chancellor and CEO of the Pierce College District.
