Latest news with #CLP
GMA Network
14 hours ago
- Business
- GMA Network
SSS issues revised calamity loan guidelines aid lower interest rate
People on board a truck are evacuated out of a flooded village following monsoon rains in Cainta, Rizal, July 22, 2025. REUTERS/Eloisa Lopez The Social Security System (SSS) on Wednesday said it is issuing the revised Calamity Loan Program (CLP) guidelines aimed at helping members in areas declared under State of Calamity (SOC) due to various natural disasters, including Tropical Cyclone 'Crising.' In a statement, SSS president and CEO Robert Joseph de Claro said the issuance of revised CLP guidelines follows through on the announcement of President Ferdinand Marcos Jr. on May 1, 2025, during which he announced the reduction of interest rates for salary and calamity loans. 'We proposed and obtained approval of the Social Security Commission, headed by our Chairperson Finance Secretary Ralph Recto, to reduce interest rates for calamity loans to 7% per annum from the current rate of 10%. This follows the reduction of interest rate for salary loans to 8% per annum from the previous 10% which was implemented last month,' De Claro said. The reduced interest rates applies for members with 'good credit records' such as loan applicants without availment of penalty condonation for the past five years. The revised guidelines have also been tweaked to allow calamity loan renewal after six months provided that the existing CLP is not past due. 'An important improvement in the revised guidelines is the streamlining of the activation process of the Calamity Loan Program (CLP) which will allow activation of the program within seven working days from the calamity event date. Previously, activation of the calamity loan program takes about one month,' De Claro said. 'SSS Branch Operations Sector and International Operations Group units will have a more active role in the activation process when they endorse State of Calamity declarations to the SSS Member Loans Department within two calendar days from date of issuance,' he added. The salient features of the revised CLP guidelines are as follows: Loanable amount: Equivalent to one Monthly Salary Credit (MSC) computed based on the average of the last 12 MSCs rounded up to the nearest thousand or the amount applied for, whichever is lower and capped at P20,000. Availment period: Up to 30 calendar days to commence on the date of announcement of the availability of the CLP in a newspaper of wide circulation. Eligibility requirements: Members must have at least 36 monthly contributions – six of which must be posted within the last 12 months prior to the month of filing. For individually paying members, they must also have at least six posted contributions under their current membership type (self-employed, voluntary, or land-based OFW) and must be registered in the SSS website ( facility) for filing of online application. A member must also have no past due loan accounts and no outstanding restructured loan and must have not been granted any final benefit. Moreover, a member must be of legal age and under 65 years of age at the time of application for loan and must have not been disqualified due to fraud committed against the SSS. Employer of employed member must be updated in payment of contributions and loan remittances. Filing of loan application: A member may file / submit the calamity loan application online through the SSS website by accessing his / her account or through the SSS Mobile App. Release of loan proceeds: Loan proceeds shall be released through active UMID ATM card or active single account in any PESONet participating bank in the name of the member which must be enrolled in the Disbursement Account Enrollment Module (DAEM) of the member-borrower's account. Repayment term and schedule of payment: The loan shall be payable within two years in 24 equal monthly amortizations. The loan amortization shall start on second month following the month of approval of the loan. Service fee: Service fee of 1% of loanable amount shall be charged and deducted from proceeds of the loan. Penalty: Loan amortization not remitted on due date shall bear a penalty of 1% per month computed and charged for every day of delay. If the loan remains unpaid after 24 months, 10% annual interest and 1% monthly penalty will apply until fully paid. 'With the issuance of the revised CLP guidelines, SSS will provide emergency financial relief to mitigate impact of natural disasters to members and help get them toward the path of recovery under liberalized terms and conditions,' De Claro said. In 2024, the SSS disbursed nearly P10 billion in calamity loans to over 560,000 affected members. For this ear, the SSS is earmarking approximately P20 billion for calamity loans, 'underscoring its commitment to helping members recover financially from natural disasters.' — RSJ, GMA Integrated News
Indian Express
a day ago
- Politics
- Indian Express
Amit Chavda takes charge as GPCC chief, Tushar Chaudhary as CLP leader
As Amit Chavda on Tuesday took charge as the Gujarat Pradesh Congress Committee (GPCC) president, he declared the day as 'Sankalp Diwas' and assured that he would reach every house in the state, listen to people's problems and fight for them. Tushar Chaudhary also took charge as the leader of the Congress Legislature Party (CLP) at the same event. 'It won't work if we just leave from here taking the sankalp (oath). We have to reach every house in Gujarat, listen to people's problems, come out on the streets and then reach Parliament, fighting for their rights. To fulfil people's hope for a change in 2027, in Gujarat, we will not hesitate coming out on the streets, fighting for their rights,' Chavda said in his address at the Rajiv Gandhi Bhavan in Ahmedabad in the presence of senior Congress leaders, including state Congress in-charge Mukul Wasnik, former presidents Shaktisinh Gohil and Jagdish Thakor, party Lok Sabha MP Geniben Thakor, former Leader of Opposition Sukhram Rathva. This is the second time that Chavda, a five-time MLA from Anklav in Anand district, is taking charge as the GPCC president — a position he had held from 2018 to 2021. Later in 2023, he was appointed as the Leader of the CLP. Pointing at the low strength of Congress MLAs in the Gujarat Assembly, Chaudhary highlighted how he has to face 170 members with just 12 members in the Assembly. He, however, named each of the members and said they are capable of taking on the 170 BJP MLAs .'If any issue arises related to Saurashtra, Vimal Chudasama will raise his voice in the House. When it comes to tribal issues, Anant Patel and Kanti Kharadi will take on that. Imran Khedawala will highlight matters affecting minority communities. Jignesh Mevani will continue to challenge the government over its 'insensitive' actions. Kirit Patel, who is like an academician, knows his subject very well when it comes to discussions on any Bill in the House and Shailesh Parmar, like always, will take on the government on law and financial issues and question the government's accountability, forcing it to enforce the rules.' Meanwhile, Chavda stated that despite taking charge at a 'difficult and challenging time', he would make sure it does not affect Congress workers. 'Wearing this crown of thorns, I will ensure these thorns do not hurt my workers, those who have given me this responsibility with the hope of defeating the BJP in 2027,' he added. He also highlighted issues of employment among the youth, expensive education, fixed pay and contractual hiring, farmers' distress, apart from ones faced by small and medium traders, alleging that land mafia, mining mafia, education mafia, health mafia are running loose in Gujarat and corruption is seeped deep in the government where its own ministers have high stakes. 'Let us take the sankalp (oath) to eradicate all these from Gujarat and hoist the Congress flag in Gandhinagar in 2027. This is not only an oath to bring Congress as the ruling party but to end exploitation of people of Gujarat at the hands of BJP, to give them a respectable, safe and secure life,' he added.
Indian Express
6 days ago
- Politics
- Indian Express
Congress puts key OBC, ST faces at Gujarat helm, banks on political families for revival
The All India Congress Committee (AICC) leadership on Thursday named Congress Legislature Party (CLP) leader Amit Chavda as the Gujarat Pradesh Congress Committee (GPCC) president, appointing Khedbrahma MLA and ex-Union minister Tushar Chaudhary as the new CLP leader. Chavda, 49, has returned as the state Congress chief after four years, having served in this position during 2018-21. The former GPCC chief, Shaktisinh Gohil, Rajya Sabha MP, had resigned from his post last month, owning responsibility for the party's debacle in the Assembly bypolls. Chavda, an OBC leader, is a five-time MLA from Anklav in Anand district, whose grandfather Ishwarbhai Chavda was an MP. He is also the cousin of former GPCC chief and Union Minister Bharatsinh Solanki. Chavda, who was unavailable for comment, thanked the Congress leadership in a post on X, saying, 'it is a solemn responsibility to fight for every Gujarati and uphold the values the Congress Party stands for. As a devoted soldier of the party, I will work day and night to strengthen @INCGujarat, fulfil the aspirations of our people, and realise the vision of Rahul Gandhiji' These appointments came a week after the Congress leadership held meetings and deliberations in this regard. Chavda was among a dozen state Congress leaders who were called by the party high command last week to Delhi, where they attended a crucial meeting held by Leader of the Opposition (LoP) in the Lok Sabha Rahul Gandhi, along with the party's Gujarat in-charge Mukul Wasnik. Some of the other state party leaders in the reckoning for the two top posts, including Lalji Desai, Geniben Thakor and Paresh Dhanani, were also present in this meeting, among others. Following Gohil's resignation, Shailesh Parmar, the party MLA from the reserved Danilimda constituency in Ahmedabad city, was handling the GPCC affairs on an interim basis. The appointments of Chavda and Chaudhary are seen as crucial at this juncture when the Congress is trying hard to reinvent itself and gain ground in Gujarat, where it has been out of power for the last 30 years. Chaudhary, who is the son of late chief minister Amarsinh Chaudhary, told The Indian Express that raising 'public issues' will be his priority while working to strengthen the party. Chaudhary, who is a first-time MLA from Khedbrahma in north Gujarat, a seat once held by his father, also said: 'We have raised MNREGA (irregularities) issue as a party and I have also raised it in my personal capacity. Now, people have come to know about the (alleged scam) in MGNREGA. We have also been raising the issues in the Nal Se Jal Yojana and it has also come out that there are irregularities in it… So, I will continue to raise issues that directly affect people on the floor of the House, and try to strengthen the party.' Currently, in the 182-member Gujarat Assembly, the Congress has only 12 MLAs. The party launched the pilot project of its proposed countrywide 'Sangathan Srijan Abhiyan' from Gujarat, and recently appointed about 40 new District Congress Committee (DCC) presidents through this process. Chavda, who holds a diploma in chemical engineering, has also held various positions in several education trusts and cooperative bodies. He also contested, unsuccessfully, the 2024 Lok Sabha polls from Anand. A tribal leader, Chaudhary is a former Congress MP from Bardoli, which he retained in 2009, when it was carved from the Mandvi Lok Sabha constituency – a Congress bastion since 1962 that Chaudhary had won in 2004. Bardoli has been held by the BJP since 2014. When asked about the arrest of Congress vice-president Hira Jotva and his son in the alleged MGNREGA scam in Bharuch district, Chaudhary said, 'Let the truth come out… he is not directly involved in the MGNREGA work.. He had been doing business but stopped in the last ten years. He was our Lok Sabha candidate and also contested the Assembly polls. He is a prominent Ahir leader in Saurashtra and a victim of BJP's vindictive politics.' Speaking about the tribal districts of Gujarat, Chaudhary said that unemployment and lack of implementation of the Forest Rights Act have been major issues facing the tribals. 'They (tribals) are not able to get their lands and it is an issue… Previously, the Congress party's protests ensured that the Gujarat government had to withdraw its decision to eliminate the management quota scholarship for Scheduled Tribe (ST) students, so we will continue to raise such issues in the Assembly.' Chaudhary also said that with the state's civic body polls slated for next year, he would 'identify issues' facing specific cities with the help of the local party units. He said he would also take up the issues in the House in the larger interest of the urban population, besides looking to improve the Congress's tally in the civic bodies.
Cision Canada
6 days ago
- Business
- Cision Canada
Lundin Mining Pre-Announces Items Impacting the Second Quarter 2025 Results
VANCOUVER, BC, July 17, 2025 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pre-announcing certain items impacting the Company's earnings, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") 1, adjusted earnings 1 and adjusted earnings per share 1 for the three months ending June 30, 2025. Unless otherwise stated, dollar amounts are presented in United States dollars. Revenue and Provisional Pricing Adjustments View PDF Revenue in the second quarter 2025 is expected to be negatively impacted by unaudited provisional pricing adjustments on prior period concentrate sales of approximately $6 million on a pre-tax basis. These adjustments primarily include downward adjustments in relation to prior period copper sales, partially offset by upward adjustments on prior period gold sales. Foreign Exchange and Derivatives Unaudited realized foreign exchange losses and unaudited realized losses on foreign exchange and commodity derivative contracts in the second quarter 2025 are not expected to be significant. In the second quarter 2025 the Company is expected to recognize certain non-cash items that will impact the Company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited unrealized gain of approximately $11 million on a pre-tax basis related to the mark-to-market valuation of the Company's unexpired foreign exchange and commodity derivative contracts, primarily due to strengthening of the BRL and CLP against the US dollar during the quarter, partially offset by unrealized losses on unexpired gold derivative contracts. Second Quarter 2025 Results Conference Call and Webcast Details The Company will release its second quarter 2025 operations and financial results after market close on Wednesday, August 6, 2025, and will hold a webcast and conference call on Thursday, August 7, 2025 to present the results. Webcast and conference call details are provided below. Webcast / Conference Call Details: Date: Thursday, August 7, 2025 Time: 7:00 AM PT | 10:00 AM ET Listen Only Webcast: WEBCAST LINK Dial In for Investor & Analyst Q&A: DIAL IN LINK To participate in the call click on the dial in LINK above and complete the online registration form. Once registered you will receive the dial-in information and a unique PIN to join the call and ask questions. A replay of the webcast will be available by clicking on the webcast LINK above and will be archived on the Company's website for a limited period of time. ______________________ 1 These measures are non-GAAP measures. These performance measures have no standardized meaning within generally accepted accounting principles under International Financial Reporting Standards and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. For additional details please refer to the Company's discussion of non-GAAP and other performance measures in its Management's Discussion and Analysis for the three months ended March 31, 2025 which is available on SEDAR+ at About Lundin Mining Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. The information was submitted for publication, through the agency of the contact persons set out below on July 17, 2025 at 14:30 Pacific Time. Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's financial results. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, gold, zinc, nickel and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions and the realization of synergies and economies of scale in connection therewith; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, such information is inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: dependence on international market prices and demand for the metals that the Company produces; political, economic, and regulatory uncertainty in operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to mine closure and reclamation obligations; health and safety hazards; inherent risks of mining, not all of which related risk events are insurable; risks relating to tailings and waste management facilities; risks relating to the Company's indebtedness; challenges and conflicts that may arise in partnerships and joint operations; risks relating to development projects; risks that revenue may be significantly impacted in the event of any production stoppages or reputational damage in Chile; the impact of global financial conditions, market volatility and inflation; business interruptions caused by critical infrastructure failures; challenges of effective water management; exposure to greater foreign exchange and capital controls, as well as political, social and economic risks as a result of the Company's operation in emerging markets; risks relating to stakeholder opposition to continued operation, further development, or new development of the Company's projects and mines; any breach or failure information systems; risks relating to reliance on estimates of future production; risks relating to litigation and administrative proceedings which the Company may be subject to from time to time; risks relating to acquisitions or business arrangements; risks relating to competition in the industry; failure to comply with existing or new laws or changes in laws; challenges or defects in title or termination of mining or exploitation concessions; the exclusive jurisdiction of foreign courts; the outbreak of infectious diseases or viruses; risks relating to taxation changes; receipt of and ability to maintain all permits that are required for operation; minor elements contained in concentrate products; changes in the relationship with its employees and contractors; the Company's Mineral Reserves and Mineral Resources which are estimates only; payment of dividends in the future; compliance with environmental, health and safety laws and regulations, including changes to such laws or regulations; interests of significant shareholders of the Company; asset values being subject to impairment charges; potential for conflicts of interest and public association with other Lundin Group companies or entities; activist shareholders and proxy solicitation firms; risks associated with climate change; the Company's common shares being subject to dilution; ability to attract and retain highly skilled employees; reliance on key personnel and reporting and oversight systems; risks relating to the Company's internal controls; counterparty and customer concentration risk; risks associated with the use of derivatives; exchange rate fluctuations; the terms of the contingent payments in respect of the completion of the sale of the Company's European assets and expectations related thereto; the earn-in arrangement in respect of the Boulderdash property, including the entering into of an option agreement in respect thereof and the terms of such option agreement; future actions taken by Talon Metals Corp. and Lundin Mining in relation to the Boulderdash property and the outcomes and anticipated benefits thereof; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A for the three months ended March 31, 2025 and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2024, which are available on SEDAR+ at under the Company's profile. All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
The Hindu
14-07-2025
- Business
- The Hindu
Thiruvananthapuram and Kochi to have city logistics plans
The Department for Promotion of Industry and Internal Trade (DPIIT) has selected Thiruvananthapuram and Kochi among 50 tier-2/3 cities across the country for the preparation of city logistics plans to reduce logistics costs, congestion and improve connectivity. The State government has now proposed the Directorate of Urban Affairs as the nodal agency for coordinating activities related to the city logistics plans. The National Logistics Policy (NLP) aims to drive economic growth and business competitiveness through an integrated, efficient, sustainable, and cost-effective logistics network using advanced technology, processes, and skilled manpower. The city logistics plans are expected to be a comprehensive framework designed to optimise urban goods movement, reduce costs, and minimise environmental impact. It will be a strategic plan designed to adequately address the urban freight and logistics needs of the city's population and businesses to achieve economic growth with better quality of life and environment. The CLP helps identify the main needs, plan and evaluate the possible solutions for urban freight and logistics in and around the city. It is expected to foster collaboration among government bodies, transport providers, businesses, and citizens. The logistics plan will be prepared in a structure and format that can be easily integrated with the Comprehensive Mobility Plan (CMP) of the city. One of the focus areas will be in reducing urban emissions by optimising vehicle movement within cities through strategic routing and consolidation of freight. The plan will also prioritise efficiency by optimising goods movement. This involves development of freight infrastructure and its integration into commercial streets, optimisation of freight routes, smart traffic management systems utilising real-time data, ensuring prompt deliveries and minimising operational costs.
