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AU Financial Review
26-05-2025
- Sport
- AU Financial Review
Leadership training builds capacity in not-for-profit sector
The Sydney gathering heard from international cricketer and vice-captain of India's women's cricket team, Smriti Mandhana, about what it means to be a resilient change-maker. Mandhana started playing cricket at a time when very few women played the sport, rising quickly through the ranks from junior level to international stardom, which required immense fortitude. She emphasised how important it is as a leader to reconcile failures and successes. 'You have to understand what's working for you and what's not working for you,' Mandhana said. 'No matter if you score 100 or you score a duck, the next day, you still have to start playing again from zero. So, it doesn't really matter what's happened in the past. Failure is the time when you understand what you can do better.' Mandhana left the audience with a message about balancing the mental space you devote to analysing setbacks versus how you assess your successes. She told the group to avoid falling into rumination and fixation, and recommended meditation and breathing exercises to gain a level head during times of stress. Common Purpose's Sengupta said events like the American Express Leadership Academy are vital for NFP leaders to build their resilience and be inspired. 'At Common Purpose, our heart and soul is about giving people the skills, knowledge and networks so they can be a better version of themselves and solve the complex challenges of society for individuals, organisations and communities,' Sengupta said. 'The academy strengthens the sector and gives its leaders the chance to be inspired and better connected. It's about developing the knowledge to make two plus two into 11, not four, to accelerate their social impact.' American Express chief corporate affairs officer, Jennifer Skyler, said, 'one of the goals of the Leadership Academy is to build bridges between organisations in the for-profit and non-profit sectors. This helps to ensure that everyone has access to the best tools, skills and networks to realise their potential and advance their mission, whether it be for a company, social enterprise or NGO.' 'Going into the leadership academy, I felt I was very consultative and had an understanding of organisational change and change management. But I had never admitted to myself I was a leader until I did the course,' said 2024 academy alumnus Craig Stevens, the CEO of LocalKind, which offers a drop-in support service for vulnerable people living in Sydney. Stevens was one of three alumni to receive $US25,000 as part of their involvement in Leadership Academy to go towards their nonprofits. The course gave him a deeper appreciation of how his backstory can help effect change. 'I learned as a result of this experience I have a story. And that story is linked to our mission and values, and can be used for the good of the organisation in terms of fundraising and raising awareness,' said Stevens. 'It helped me be able to advocate on issues such as domestic violence and trauma-informed care for people who have had complex childhoods and end up homeless or in the justice system.' Stevens said being part of the American Express Leadership Academy also supported his own career ascension to run a large not-for-profit organisation. 'I started my professional life as a support worker, moving into different roles before becoming a CEO,' he said. 'The academy challenged my thinking on how I can lead through change more kindly and using stories, understanding you're going to get better results if you bring people along the journey.'
Express Tribune
24-05-2025
- Business
- Express Tribune
Budget delayed by a week
Listen to article The government has delayed the presentation of the new budget by over a week due to Prime Minister Shehbaz Sharif's foreign tour to thank friendly nations for supporting Pakistan in the war against India and due to some hiccups in the finalisation of certain heads of expenditures. Sources also said that the government was considering further increasing the existing Rs78 per litre petroleum levy rate to finance an enlarged Public Sector Development Programme (PSDP) for the fiscal year 2025-26, starting from July. The government shelved the plan to present the budget on June 2 and instead decided to unveil the fiscal year 2025-26 outlay on June 10, finance ministry sources said. Accordingly, a scheduled May 26 meeting of the Annual Plan Coordination Committee to approve the next fiscal year's PSDP and macroeconomic targets has also been indefinitely postponed. The development came on the last day of budget discussions with the International Monetary Fund (IMF) on finalising the new budget in line "with the advice of the IMF staff." Speaking to The Express Tribune, Federal Board of Revenue (FBR) Chairman, Rashid Langrial, said that discussions with the IMF would continue virtually during the weekend as well as over the next week. "Constructive and in-depth discussions have been held with the IMF, which will continue over the next week," said Langrial. Matters pertaining to taxation were opened for discussion in addition to the tax target. The FBR's target, the PSDP, and spending on security matters are interlinked. Ahsan Iqbal, Minister for Planning and Development, told The Express Tribune that for the next fiscal year the PSDP budget had been set at Rs1 trillion, Rs79 billion higher than the earlier proposed ceiling of Rs921 billion. Iqbal said that the budget had been delayed due to "limited time after concluding talks with the IMF and because of the Eid holidays." PM Sharif has convened another meeting in Lahore today (Saturday) to discuss budget-related issues before leaving for a four-nation trip on Sunday. Separate meetings were held with the prime ministe and Deputy Prime Minister Ishaq Dar on Friday to finalise next year's PSDP. The coalition partners were demanding large shares in the PSDP, including more allocations for parliamentarians' schemes. Dar on Friday emphasised that PSDP priorities must deliver tangible socio-economic benefits, particularly job creation, poverty reduction, and regional equity, aligned with the prime minister's URAAN Pakistan vision for inclusive, innovation-led growth. The deputy prime minister also chaired the high-level committee for the implementation of the National Fiscal Pact (NFP). The committee aims to facilitate effective implementation of NFP, a major step in addressing fiscal challenges faced by the federal government. The committee deliberated on ways to improve and enhance the federal fiscal resource base. The committee reaffirmed its commitment to NFP while emphasising the resolve to find a viable solution to the current fiscal challenges facing the federal government. Circular debt plan Meanwhile, the IMF has not endorsed the government's plan to retire circular debt in the petroleum sector. The privatisation adviser presented the plan first to the prime minister and then to the IMF on Friday. The government had proposed settling about Rs1 trillion worth of circular debt against higher-than-normal dividends by state-owned companies. These higher dividends were proposed to be utilised for retiring the circular debt over a period of five years. For the next fiscal year, the government had proposed retiring Rs170 billion of petroleum sector circular debt, including Rs19 billion of Pakistan State Oil (PSO). However, there was abnormal movement in the share price of PSO, which increased 133.1% since July last year, despite the company facing serious problems. By comparison, the share prices of financially stable firmsOil and Gas Development Co increased by 57% and Pakistan Petroleum Limited by 45%. The IMF raised queries against the plan and postponed the matter until after the budget for further review. The government has now excluded PSO from the circular debt retirement plan due to serious objections over the abnormal movement in PSO shares, said the sources. They said that the IMF was also unwilling to further increase power subsidies and has asked to cap them at Rs1.04 trillion, equal to 0.8% of the size of the economy. The power division was demanding Rs180 billion more. The finance ministry has also slashed some other subsidies in the next budget to create space for clearing contingent liabilities. PM Sharif will travel abroad from May 25 to visit Iran, Türkiye, Azerbaijan, and Tajikistan. The premier will visit Türkiye and Azerbaijan, where high-level discussions will be held with the respective heads of state. The prime minister is expected to reaffirm Islamabad's appreciation for their vocal support during the India-Pakistan conflict and explore broader strategic and economic cooperation. The final stop of the tour will be in Dushanbe, Tajikistan, where PM Sharif will attend the International Conference on Glaciers.
IOL News
19-05-2025
- Politics
- IOL News
NFP says it will strengthen party unity for upcoming elections, after court ruling
The new National Freedom Party leadership was elected in December 2023 at the Olive Convention Centre in Durban. Image: Facebook The National Freedom Party (NFP) has called on its members to unite in rebuilding and strengthening the party ahead of the 2026 Local Government Elections. This comes after the Pietermaritzburg High Court dismissed the main application and review application in which some NFP members sought an order declaring the national elective conference of the party, held in Durban from 15 to 17 December 2023, and its decisions and resolutions, including the election of office bearers, unlawful and invalid. The applicants also sought a costs order against the respondents, jointly and severally. Nhlanhla Thwala brought a review application within the main application. He sought an order that the decision of the Independent Electoral Commission (IEC) made on February 26, 2024, accepting the leadership of the NFP elected at the 2023 conference be reviewed and set aside; that the National Executive Committee be directed to facilitate and hold an elective conference of the NFP within a reasonable time, but no later than six months from the date of the order, and that the costs of the review application be paid by those respondents who oppose the review application, jointly and severally. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Reacting in a statement, the NFP said the actions of a senior member, along with his supporters, sought to prevent the NFP from contesting the 2024 National Elections, severely compromising the party's funding and overall stability. It said the divisions extended to party structures and caused deployees and councillors to rebel against elected leadership. Such disruptions hindered the party's election campaign efforts, leading to underperformance. 'Despite these challenges, the unity and reconciliation of the NFP remain paramount. It is unequivocally clear that the NEC, under the leadership of President Ivan Rowan Barnes, and all structures established after the 2023 December NFP Elective National conference, are legitimate and fully authorised to lead the party,' the statement read. 'All members, deployees, and councillors are urged to embrace unity, realignment, and the guiding principles of the NFP constitution.' 'The NFP now calls on all members, including those involved in the legal proceedings, to join efforts in rebuilding and strengthening the party ahead of the 2026 Local Government Elections,' the statement continued. It said founder Zanele ka-Magwaza-Msibi's legacy and vision of the party must drive their commitment to move forward, ensuring that the NFP is no longer entangled in legal disputes but focused on serving the people. The order and judgment stated that the dispute amounts to a power struggle between NFP members. 'Those members who are bitter about the outcome of the 2023 conference elected to approach the court to vent their dissatisfaction. The long-standing rifts must heal in time. A costs order might make the healing process difficult. Ordinarily, costs must follow the outcome. However, in the interest of reconciliation, I make no order as to costs,' the order and judgment read. According to the order, the main and review applications are dismissed. Additionally, there is no order as to costs.
Business Upturn
07-05-2025
- Politics
- Business Upturn
French MP warns of water war between India and Pakistan, calls for urgent de-escalation
French Member of Parliament Bastien Lachaud, from the La France Insoumise – NFP group, has issued a statement expressing deep concern over the ongoing military escalation between India and Pakistan, following India's cross-border Operation Sindoor and Pakistan's retaliation. In a press note titled 'Water War between India and Pakistan: The Urgency is Peace', Lachaud warned that tensions between two nuclear-armed nations pose a serious risk to global security. The statement criticizes both countries, noting that India responded militarily to a terrorist attack for which it blamed Pakistan without providing evidence. It also mentions India's earlier decision to suspend its participation in the Indus Waters Treaty, effectively threatening to 'cut off water' from rivers flowing into Pakistan—a move described as dangerous considering the disputed nature of Kashmir, the region referred to as the 'water tower' between the two countries. According to Lachaud, this conflict over water resources highlights one of the greatest emerging threats of the 21st century. He argued that the violation of fundamental rights in Kashmir, rise of nationalist governments, and collapse of international norms are contributing to a volatile situation. He urged that international law must prevail over military force and called for an immediate ceasefire and peaceful resolution. Lachaud said France must not remain passive and should join global efforts, alongside nations like China, to prevent further escalation between India and Pakistan. Guerre de l'eau entre l'Inde et le Pakistan : l'escalade militaire entre deux puissances nucléaires est un danger majeur pour la sécurité mondiale. Ce conflit rappelle une vérité terrible : la prédation de l'eau sera l'un des plus grands risques de guerre au XXIe siècle.… — Bastien Lachaud (@LachaudB) May 7, 2025 He emphasized that the scarcity and exploitation of water will be a central issue in future global conflicts and that France should be at the forefront of building an international legal framework to safeguard water security for humanity. The statement was shared by Bastien Lachaud on X (formerly Twitter) at 10:42 PM IST on May 7, 2025. News desk at
Yahoo
06-05-2025
- Business
- Yahoo
Market Prepares for the FED: Traders Expect No Surprise
The last week of April was notable due to controversial data from the US: a weaker than expected GDP was compensated by the strong employment report from Friday's NFP publication: 177k new payrolls have beaten expectations and show resilience of the US economy, especially if we recall unchanged unemployment at a 4.2% level. This situation doesn't increase the odds of an interest rate decline in May: the scenario of a one step decline had dropped to 2.6% (from 8% earlier this week) after a strong NFP report. Stock indices have been recovering this week, as market sentiment slowly turns into the positive territory: according to the 'fear and greed index' from CNN, market balances between 'fear' and 'neutral' phase, but no longer in the 'extreme fear' territory. The overall improvement is associated with the drop of the ' buy defense' narrative: Gold is no longer in favor, along with EUR and JPY. That might also be associated with the end of a rising seasonal cycle for Gold: usually, it consolidates during the May-July period, according to seasonal studies. Crude oil, on the contrary, has a strong seasonal window to grow in May after dipping in April, so it's possible to observe the price of WTI oil getting back to the fair price of $60 (that's a price calculated by Gold had probably finished its active phase of accumulation and has a chance of locking in a consolidation, here's why: Volatility (ATR) on the daily chart had reached the long-term peak: usually, it points to a market ending the active phase of the rally. The net position of commercial traders from the COT report has been reaching new peaks on a week-to-week basis. Usually, that is associated with the declining price: the continuation of a price trend is unlikely in such circumstances, at least immediately. From 25-year seasonal studies, Gold has completed the seasonal window of growth, and has a chance of being locked in a consolidation. Crude oil had tested the lower band of the Bollinger Bands indicator on the daily chart. Being a momentum instrument, it has a chance of testing the area below the previous intermediate-term low (testing 52-55k area), after which the price may turn back to $60: the fair price according to the STEO forecast from As WTI oil is entering the seasonal window of growth, so we can assume the mean-reversion scenario to dominate in the near future, especially considering the improving market sentiment. This article was originally posted on FX Empire Franco-Nevada Poised to Rise with Gold Sportradar Group Scoring with Big Money Netflix Proves Durable Amid Uncertainty Big Money Selloff of Broadcom Could Be Long-Term Opportunity Market Prepares for the FED: Traders Expect No Surprise Big Money Buys SABESP
