Latest news with #Framework
New Indian Express
23-05-2025
- Business
- New Indian Express
‘No need for major changes in formula to calculate RBI dividend to govt'
NEW DELHI: Though the time for review of the Bimal Jalan Committee's Economic Capital Framework (ECF), the formula which is used to decide the quantum of Reserve Bank of India's (RBI's) transfer of excess funds to the government, has come up, the government does not see a pressing need to make major changes to the framework. 'The mechanism has worked well so far, and if at all only minor tweaks would be enough for now,' said a government source. The framework was put in place by the Bimal Jalan Committee in 2019, and had suggested a review of the framework every five year. The RBI Central Board of Directors met last week to review the Framework.
IOL News
23-05-2025
- Business
- IOL News
Controversy erupts over Godongwana's virtual attendance at Budget meeting
The EFF and the MK Party raised concern that Finance Minister Enoch Godongwana attended virtually the joint meeting to address MPs on the Budget, and that each MP was asked to speak not for more than five minutes. Image: Phando Jikelo / GCIS The meeting in Parliament where Finance Minister Enoch Godongwana was to brief MPs about the 2025/26 Budget on Friday got off to a bumpy start with calls for its postponement. The EFF and the MK Party raised concern that Godongwana attended the meeting virtually and that each MP was asked to speak not for more than five minutes when making inputs. EFF MP Omphile Maotwe said the arrangement made with Godongwana by the co-chairpersons of the finance and appropriation committees was very wrong. 'Why is the minister given a preference of being on a virtual platform which none of us is aware of?' Maotwe said. She asked that the meeting be postponed and Godongwana be called again to come. 'He is busy addressing other platforms, not this sitting. He knew about this sitting a long time ago,' Maotwe said. Tidimalo Legwase, chairperson of the Select Committee on Appropriations, explained that MPs in the National Council of Provinces (NCOP) knew the joint meeting was hybrid. 'We plan for hybrid sessions,' Legwase said. In objecting to the allotted speaking times, EFF MP Sinawo Thambo said the meeting was not a continuation of the Budget process. 'We deal with a new Budget, a new Fiscal Framework and Revenue proposals. Let us allow as much input as possible,' said Thambo. In response, Legwase stated that there were still more meetings to take place at committees, and Friday's meeting was not the last to deliberate on the Budget. But MK Party MP Brian Molefe said the meeting was called for a presentation by Godongwana to the committees. 'It is surprising that, this being the minister's meeting, he is not present. He is only available online. I don't know why we had to be dragged here if the minister is not going to be here,' Molefe asked. He also noted that Godongwana had addressed a breakfast meeting with the business community on Thursday. 'I don't understand why the minister is not present at the meeting of Parliament to discuss the Budget,' Molefe said. ANC MP Seaparo Charles Sekoati urged MPs not to engage in semantics and asked that the meeting proceed. But, MK Party MP Des van Rooyen said the meeting should not be reduced to a compliance exercise. 'What has been done by the minister is completely wrong. He knows it very well, this is a physical meeting. As to why he opted not to be here physically is quite disturbing,' Van Rooyen said before warning that it was no longer business as usual. 'I want to suggest to the MPs in this meeting that we postpone this meeting,' he added. DA MP Denis Ruyder appreciated Godongwana's attendance with his National Treasury team. 'We are used to having virtual meetings and running successful meetings and engagements. I don't think there should be a problem whether the minister is here or not. We are still to get the same answers,' Ruyder said. He also said it was normal to set a time for MPs to ask questions. 'Five minutes is more than adequate, generally. We should push ahead,' Ruyder added. Mmusi Maimane, chairperson of the Appropriations Standing Committee, noted that there was a tradition of holding the meeting with the Finance Minister a day after the Budget was tabled. He pleaded against the postponement of the meeting, citing the deadline to pass the Budget. 'If we don't proceed, we will miss the opportunity to do hard work to process the Budget,' Maimane said. After input from several other MPs, Godongwana was allowed to address the meeting. He apologised for the inconvenience caused, and explained that he had addressed a breakfast meeting with business on Thursday because he was informed the joint meeting was moved to Friday. He also said he had moved his doctor's appointment to Friday, thinking that the joint meeting would follow the Budget on Thursday. 'To that extent, I apologise and I must make the point that it is not the first time that we have had this interaction with the committee virtually,' he said. Godongwana asked that, should the meeting continue at 2pm, he be excused to brief NEDLAC on the Budget. [email protected]
Yahoo
22-05-2025
- Business
- Yahoo
City, county to launch microtransit service
Lee County and the City of Sanford recently signed an agreement to begin a microtransit pilot program that will provide residents with on-demand transportation in designated service areas. Sanford applied for a $3.4 million Mobility for Everyone Everywhere grant offered through the N.C. Department of Transportation. The program is designed to expand 'high quality, on-demand services in rural low-income communities,' according to news releases from Sanford and Lee County. Sanford, one of 11 cities in the state awarded the grant, applied after a 2022 study found that the microtransit program would provide 'affordable, efficient, reliable access in the city.' Technology will be used to determine the routes and stops based on demand. It will complement the County of Lee Transportation Service, or COLTS, program by filling in gaps when needed and will provide weekend services, according to Assistant County Manager Angelina Noel. It is predicted to provide means for elderly, disabled and 'everyday people to have access to provisions and services' and can be used by visitors for mobility. 'A consistent goal of our Strategic Framework has been to improve access for those who live in our community,' Sanford Mayor Rebecca Salmon said. 'This pilot project is an opportunity to provide an affordable transportation option in a collaborative and sustainable way.' The system will provide an invaluable service for those re-entering the workforce or needing access to mental and behavioral health services or substance abuse treatment, according to Kirk Smith, chairman of the Lee County commissioners. 'The microtransit project we are about to undertake will help eliminate this barrier to treatment or employment by providing reliable transportation and overcoming this critical need,' he said. The program is expected to start in the fall with a 23-vehicle fleet including three COLTS buses. Rides will be scheduled through an app or by phone. Members of the Microtransit Advisory Board will include Salmon and Smith; Crystal Gaddy, director of Business Retention and Expansion for the Sanford Area Growth Alliance; Yanira Scott, executive director of El Refugio; and Wendy Bryan, executive director of the Sanford Tourism Development Authority. This city-county partnership is the first of its kind in North Carolina, according to the news releases. The pilot program allows flexibility to develop the best program for the community, Salmon said. 'It also lays the foundation for future funding to help with the costs of potentially expanding the service,' she added.
Al Etihad
21-05-2025
- Politics
- Al Etihad
UAE deeply committed to safeguarding its rich biodiversity - Minister of Climate Change and Environment
21 May 2025 21:38 DUBAI (WAM)Dr. Amna bint Abdullah Al Dahak, UAE Minister of Climate Change and Environment, reaffirmed the UAE's commitment to preserving its natural ecosystems and safeguarding life on land and in a statement on the International Day for Biological Diversity, marked annually on May 22, Dr. Al Dahak said that this year's theme - From Agreement to Action: Build Back Biodiversity - perfectly captures the urgency of the UAE's mission, and noting that the General Framework of the National Biodiversity Strategy 2031 reflects this added, "We recognise that protecting biodiversity and championing nature-based solutions are not simply environmental add-ons; they are the essential foundation upon which all our efforts to combat climate change and achieve lasting sustainability must be built."Dr. Al Dahak emphasised that the UAE is deeply committed to safeguarding its rich biodiversity, embracing it as a cornerstone of its sustainability efforts. This is reflected in the designation of 49 protected areas in the UAE, which encompass over 15 percent of the nation's territory, and preserves its desert, mountains, and the marine environment, known to provide critical habitats for endangered species."Our success in bringing the majestic Arabian Oryx back from the brink of extinction stands as a testament to our dedication to wildlife conservation. Furthermore, we are leveraging technology to enhance our conservation strategies, from using drones to combat desertification to pioneering research in marine life preservation," she further our borders, Dr. Al Dahak stated, the UAE champions international collaboration, exemplified by its partnership with Indonesia to launch the Mangrove Alliance for Climate (MAC)."As part of this alliance, we are also investing in cutting-edge research, as demonstrated by the groundbreaking of the Mohamed bin Zayed-Joko Widodo International Mangrove Research Centre on the island of Bali, in collaboration with the Republic of Indonesia," she said."Here in the UAE, we are actively engaging stakeholders across multiple sectors to boost our local agriculture and safeguard the country's rich biodiversity,' the minister explained, adding that the Emirates Agriculture Conference and Exhibition, taking place from May 28 to 31, offers an opportunity to turn goals into tangible actions."In addition to our focus on supporting farmers and increasing the local production of strategic crops, we will place special emphasis on the development of our livestock and fisheries, key pillars in strengthening both biodiversity and sustainable food security," she added. "I invite you to join us at this important event to explore innovative strategies that ensure a better future for both nature and humanity. Let us build a lasting legacy that future generations will be proud to carry forward," Dr. Al Dahak concluded.
Cision Canada
20-05-2025
- Business
- Cision Canada
NGEx Releases 2024 Sustainability Summary
VANCOUVER, BC, May 20, 2025 /CNW/ - NGEx Minerals Ltd. ("NGEx", "NGEx Minerals" or the "Company") (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce the release of its 2024 Sustainability Summary which highlights the Company's ongoing efforts to integrate sustainability into its business practices as it advances the Lunahuasi and Los Helados copper-gold-silver projects in Argentina and Chile, respectively. PDF Version View PDF Wojtek Wodzicki, President and CEO, commented, "At NGEx, we recognize that our role and impact extend beyond exploration. Our Lunahuasi and Los Helados projects are key assets within the broader Vicuña District, with the potential to become an important part of the global effort to transition to a low-carbon economy, and as our projects grow, so does our focus on environmental, social and governance initiatives. Our 2023 Sustainability Summary provided evidence of our commitment to sustainability, but this year's Summary underscores the significant progress we have made and reflects our ongoing commitment and efforts to conduct responsible mineral exploration and development. We are proud of our accomplishments this year and have identified areas for continuous improvement in 2025 and beyond." Highlights from NGEx's 2024 Sustainability Summary: Zero fatalities across all operations and consistent implementation of health and safety protocols. Delivered 1,766 hours of safety training and awareness programs to employees and contractors in 2024. Conducted a comprehensive materiality assessment, that directly informed the development of NGEx's Sustainability Framework, which serves as the foundation for integrating sustainability priorities across departments, embedding key actions into operations through a phased approach. Established Board oversight and management accountability over sustainability matters and adopted a Responsible Mineral Exploration and Development Policy. Employed over 95% of our Workforce 1 from Argentina, including 65% from the Province of San Juan, in 2024. Joined the United Nations Global Compact ("UNGC"), committing to its ten principles and Sustainable Development Goals. NGEx's Sustainability Summary is guided by its Sustainability Framework, which is aligned with the principles of the UNGC. As a participant of the UNGC, the 2024 Sustainability Summary is part of our Communication on Progress commitment. NGEx's Sustainability Summary is available for download on the Company's website. _____________________________ 1 As defined in the 2024 Sustainability Summary About NGEx Minerals NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-gold project located approximately nine kilometres to the northeast in Chile's Region III. Both projects are located within the Vicuña District, which includes the Caserones mine, and the Josemaria and Filo del Sol deposits. NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project, subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 30% owner of the operating Caserones open pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corporation holds the remaining 70% stake in Caserones. The Company's common shares are listed on the TSX under the symbol "NGEX" and also trade on the OTCQX under the symbol "NGXXF". NGEx is part of the Lundin Group of Companies. Additional information relating to NGEx may be obtained or viewed on SEDAR+ at Additional Information Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release. The information contained in this news release was accurate at the time of dissemination but may be superseded by subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Cautionary Note Regarding Forward-Looking Statements Certain statements made and information contained herein in the news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to, statements regarding: the emergence of the Vicuña District as a mining district of global significance and its role in the transition to a low-carbon economy; the potential importance or strategic value of the Company's assets in that context; the Company's continued participation in the United Nations Global Compact (UNGC); NGEx's goals and initiatives related to the environment, community engagement, and corporate governance; the ongoing integration of sustainability priorities into operations through NGEx's Sustainability Framework; the Company's commitment to maintaining strong health and safety practices, including workforce training and well-being initiatives; the Company's intention to uphold Board oversight and management accountability over sustainability matters; NGEx's ongoing commitment to responsible mineral exploration and development; and the Company's intention to pursue continuous improvement in its sustainability practices in 2025 and beyond. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "projects", "budgets", "assumes", "strategy", "objectives", "potential", "possible", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "should", "might" or "will be taken", "will occur" or "will be achieved" or the negative connotations thereof. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management including that NGEx can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, gold, silver and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions, systems and policies; that the political environment in which NGEx 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 NGEx as at the date of this document, in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity performance or achievements of NGEx to be materially different from those expressed or implied by any forward-looking information and forward-looking statements. The following are among the factors that could cause actual results, performance or achievements to differ materially from the forward-looking information: volatility in metal prices, namely copper, gold and silver; volatility in interest, inflation and currency exchange rates; government regulation limiting the free flow of currencies; failure of exploration efforts to establish new Mineral Resources at NGEx's projects; unexpected changes in business and economic conditions, including, but not limited to, the impacts of regulatory, fiscal or policy reforms enacted by the current president of Argentina and his administration; volatility in the market price of the common shares of NGEx; the ability to arrange financing; the ability to obtain regulatory approvals, permits and licenses when required to conduct operations; high altitude operations in the Andes Mountains where climactic conditions are subject to unforeseen and severe changes and productivity can be affected by altitude related effects; weather, including excessive snowfall in the Andes Mountains; infectious diseases, pandemics and health crisis; war or other forms of conflict affecting operating jurisdictions directly or otherwise having a global impact, such as through supply chain and international trade disruptions and increased market volatility; carrying on business in an emerging market that may be impacted by government instability, civil turmoil and economic instability; measures required to protect endangered species; deficient or vulnerable title to mining concessions and surface rights; potential for litigation; difficulty complying with tax or other regulatory regimes in Chile and Argentina; environmental, governmental and sociopolitical factors, including climate change and carbon pricing; compliance with environmental laws and liability for environmental contamination; opposition to mining, including by local communities and non-governmental organizations; exploration and development activity; illegal mining; recruiting and retaining key qualified personnel; availability of, and ability to import, skilled personnel, contractors, materials, equipment, supplies, power and water; access to reliable infrastructure; potential ability to sell future products; competition in the mining industry; the inadequacy of insurance; compliance with anti-corruption and anti-bribery laws; limitations of disclosure and internal controls; regulatory compliance; cybersecurity; failure to adequately use generative artificial intelligence in the Company's operations; fraud; potential influence of large shareholders; potential conflicts of interest; and other risks and uncertainties, including but not limited to those described in the "Risk Factors" section of the Company's annual information form for the year ended December 31, 2024 and in the "Risk and Uncertainties" section of the Company's annual management discussion and analysis for the year ended December 31, 2024, which are available on the Company's website and SEDAR+ at under the Company's profile. The forward-looking information contained in this news release is based on information available to the Company as at the date of this news release. Except as required under applicable securities legislation, the Company does not undertake any obligation to publicly update and/or revise any of the included forward-looking information, whether as a result of additional information, future events and/or otherwise. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. Although the Company has attempted to identify important factors that would 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, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. SOURCE NGEx Minerals Ltd.
