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Not long after Donald J. Trump had secured a second go at being president, a group of dreamers set their sights on building a new world, far from this polluted planet and its troubles. This cohort was not destined for Mars, but to a space within themselves – a digital utopia just for the like-minded. Bluesky is a microblogging site for idealists, devoted to protecting them against the raging reality of divergent opinion in a democratic system. The pilgrims took with them their in-house journal, The Guardian , which left Elon Musk’s X with the flounce of a friendless man leaving a party to which he hadn’t been invited. Henceforth, the trust-funded worldwide webzine will dedicate itself to nurturing the delicate biosphere of an alternative reality. Defectors from Elon Musk’s X are taking up with Bluesky. Credit: NurPhoto via Getty Images Three million users have joined Bluesky over the past week, according to the platform, and they have been busy tending to their new world. In this environment, misinformation and disinformation are not alone the enemy; malinformation – information that does not accord with the idealists’ worldview – is the apple from the tree of knowledge, from which the Devil bid Eve to sup. Curious interlopers from the Other Place – the increasingly uncensored X – have experimented by pushing the boundaries of the sayable on Bluesky. To their delight , reasonably mainstream opinions attract the ire of the moderators, and are soft-censored as “intolerance”. Posts labelled thus are not visible in the app until a user clicks on “show”. This functionality is a clue to what the spotless mind can experience on Bluesky. Only the opposite of malinformation – “euinformation”, eu being the obverse prefix – is welcome here. Euinformation is well-meaning information; not really information so much as a curation of comforting progressive axioms. Meanwhile, in the real world, way over here in Australia, I’m never quite sure which way the discussion is going to go when someone raises the re-election of Donald Trump. Given space to speak, tradies volunteer that it’s not a surprise to them that Trump won. Hairdressers venture that it might be a good thing. Even in trendy urban enclaves, the anti-Trump clucking is not as secure as in 2016. The top three concerns in the US election were democracy (presumably whether it would be honoured), the economy and migration. But the cultural effect of focusing on those essentials is wide-reaching. On reflection, it seems everyone knew that they or other people privately had less and less patience with the vanity projects of the boardroom, while the economy constricted the lives of salary men and women. Acronyms have been crumbling. Many companies have slunk away from the ESG (environmental, social and governance) trend as it has emerged that many were just faking it. Australian companies have become more wary about the claims they make in this area after corporate watchdog ASIC announced it was cracking down on greenwashing – the “practice of misrepresenting the extent to which a financial product or investment strategy is environmentally friendly, sustainable or ethical”. In August this year, the world’s largest investment firm, BlackRock , which has $US10 trillion ($15.4 trillion) under management, reported that it had dramatically reduced its support for shareholder proposals addressing environmental and social issues. Another acronym, DEI (diversity, equity and inclusion), is also under fire. Over 200 US colleges have backtracked on their DEI programs, as suggestions swirl that race-based admissions programs have disadvantaged some ethnic groups, including Asian Americans. The grandmama of corporate DEI, White Fragility author Robin DiAngelo, was accused of appropriating passages and ideas in her PhD dissertation from minority scholars without attribution. DiAngelo has become wealthy lecturing corporate teams around the Anglosphere on DEI, leaving them with a tangle of rules and terminology so confusing that their main use is to be weaponised in internal disputes. DEI scepticism and exhaustion have reached Australia too, with some consultants reporting that companies are scaling back, or at the very least rebranding, these departments. Australia, of course, also had the Voice referendum to remind us that permission for social change has to be sought once core concerns are covered. The arc of history does not bend inexorably towards the preoccupations of student newspaper alumni and their kin over at Human Resources. Conservatives used to insist that politics is downstream of culture; in fact, if Australia’s choice of Scott Morrison in 2019 didn’t get them over the line, America’s choice of Donald Trump this year should finally persuade them that this adage isn’t complete. Culture is downstream of economics. The party perceived to be capable of managing things so you can live a good life has first dibs on defining the mainstream culture. But you won’t hear that over at Bluesky, where the butterfly logo symbolises a new type of white flight from unpleasant ideas. As the progressive influx gains pace, the Bluesky Trust & Safety team received 42,000 reports of “harmful content” in a single day , compared with 360,000 for the whole of 2023. You can block your ears and block your enemies in a digital utopia, but Trump’s election has already changed the culture of the US, and Australia too. Parnell Palme McGuinness is managing director at campaigns firm Agenda C. She has done work for the Liberal Party and the German Greens. Get a note directly from our foreign correspondents on what’s making headlines around the world. Sign up for our weekly What in the World newsletter .
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MIAMI, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Shipsi, an industry leader in same-day and instant delivery solutions, today announced further expansions to its 3PL (third-party logistics) solution, solidifying its position as a trusted partner for carriers and logistics providers. With a proven track record of optimizing middle-mile and last-mile logistics, Shipsi's cutting-edge technology continues to deliver efficiency and cost savings across the supply chain. Building on its legacy of innovation, Shipsi first disrupted the logistics space in 2017 by pioneering instant delivery services for retailers. Today, the company's vertically integrated solutions also empower 3PLs to streamline operations, reduce costs, and improve delivery outcomes, leveraging Shipsi's proprietary technology to address the evolving dynamics of the supply chain. Last Mile Delivery: The Industry's Growing Challenge With last-mile delivery costs now representing as much as 41% of total supply chain costs, according to Capgemini's report ( The Last Mile Delivery Challenge ), logistics providers are under mounting pressure to find scalable, cost-effective solutions that meet consumer demand for speed and reliability. By extending its technology to the middle and final mile, Shipsi bridges a critical gap for 3PLs, improving carrier efficiencies while delivering a seamless customer experience. "At Shipsi, we've always been laser-focused on transforming instant delivery for retailers," said Rye Akervik, CEO of Shipsi. "With this expansion, we're continuing to move upstream in the supply chain to solve larger, systemic challenges in logistics. Our 3PL solution is a natural evolution of our technology-one that helps carriers and providers add value at every mile, not just the last one." Shipsi's forward-looking approach positions the company as a key player not only in ecommerce and retail logistics but also in the broader domestic supply chain landscape. By fusing operational excellence with advanced technology, Shipsi is poised to redefine delivery logistics for 3PLs, retailers, and carriers alike. About Shipsi Shipsi is the fastest, most affordable, and most reliable instant delivery network in the U.S., providing nationwide coverage with a focus on same-day and near-instant delivery. Shipsi empowers retailers, carriers, and 3PLs to transform delivery logistics through its innovative technology solutions. Contact: [email protected]
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NoneCAGAYAN DE ORO CITY—This year’s National Science, Technology, and Innovation Week (NSTW) focused on advancements to promote a green and sustainable circular economy through science, technology, and innovation (STI) as it opened in this city on November 27. With the theme “Siyensya, Teknolohiya, at Inobasyon: Kabalikat sa Matatag, Maginhawa at Panatag na Kinabukasan” with the sub-theme “Providing Solutions and Opening Opportunities in the Green Economy,” it showcased over 100 technology exhibits, 30 technical fora, pitching sessions, and career talks. “This year’s event is a bold declaration that [STI] are not just centered in the nation’s capital. We are here in Cagayan de Oro City, proving that regional growth is fueled by the dynamic force of STI,” said DOST Secretary Dr. Renato U. Solidum Jr. in his keynote speech. The five-day event highlighted the innovative contributions of Filipino scientists, engineers, and researchers to the growth of science and technology in the country. The Science chief emphasized the need to involve local government units (LGUs) in STI initiatives, noting that scientific community partners would welcome the chance to highlight and showcase their innovations in the regions, rather than just in the National Capital Region (NCR). ‘Bagong Pilipinas’ campaign; AmBisyon Nation 2040’ Solidum pointed out the critical role of STI as catalysts for advancing national development and enhancing the quality of life for Filipinos. He said that this aligns with the administration’s “Bagong Pilipinas” campaign and the long-term goals outlined in “AmBisyon Natin 2040.” “Our future depends on how effectively we harness the power of STI to create a nation where every Filipino experiences progress, prosperity, and security,” he said. The Science chief illustrated how each of the values—Matatag, Maginhawa and Panatag—are realized through investments in STI. A Matatag society is where families thrive, communities are resilient, and trust in governance is strong. Through DOST’s Community Empowerment through Science and Technology program, STI interventions uplift marginalized sectors At the same time, Maginhawa, where there is a comfortable life for all, free from poverty, the DOST’s Small Enterprise Technology Upgrading Program (SETUP) is turning this vision into reality by supporting over 9,000 MSMEs, creating 316,000 jobs, and injecting P8.7 billion into the economy. In a country highly vulnerable to natural hazards, Panatag—secure and protected from disasters—is a top priority. Its agencies— Philippine Atmospheric, Geophysical, Astronomical Services Administration and the Philippine Institute of Volcanology and Seismology—play a vital role in safeguarding communities with cutting-edge technologies. The state-of-the-art Doppler radars and seismic stations to the innovative GeoRisk Philippines app provide real-time data that enhance disaster preparedness, mitigate risks, and save lives, Solidum said. He also outlined eight major R&D programs for 2025 to address critical challenges in a volatile, uncertain, complex, and ambiguous world. These include the AI Virtual Hub, Geospatial Analytics Solutions, Quantum Computing, and Industry 4.0. The programs also prioritize fostering circular economy, promoting smart agriculture, advancing smart technologies, and innovating biologics in the pharmaceutical sector to drive innovation, enhance sustainability, and bolster the country›s competitiveness in the global market. Addressing challenges, empowering communities For her part, DOST Undersecretary Maridon Sahagun, for Scientific and Technical Services said: ”We reaffirm our commitment to bringing [STI] closer to this region to address various challenges, tap into growth potentials, and empower communities, all while pursuing a green and circular economy.” Sahagun said the five-day event highlighted the DOST’s efforts in four key areas: promoting human well-being, fostering wealth creation, ensuring wealth protection, and advancing sustainability. The featured technologies and activities address critical challenges in areas such as climate change, agriculture, and environmental conservation, offering timely and appropriate solutions to pave the way for sustainable development. Sahagun, also the chairman of the 2024 NSTW-Steering Committee, emphasized the cutting-edge technologies and S&T products at the center stage during the five-day event. The Human Well-Being Technologies initiative delved on critical challenges in health, education, and accessibility included groundbreaking innovations. They are the Immersive Gamification Technology System (ImGTS) for dementia care, Intelligent Stroke Utilization, Learning, Assessment, and Testing (i-Sulat) for early childhood assessment, Ensayo for empowering visually impaired individuals, and nutrition-focused solutions like the Enhanced Nutribun. The Wealth Creation Technologies aim to boost industries and livelihoods through initiatives like Advanced Manufacturing Center for advanced 3D printing; sustainable Silk and Natural Dyes Hubs; SAFEWATRS for mobile water purification; and commercialization programs like Galing and Technicom that support Filipino innovators. Meanwhile, Wealth Protection Technologies enhance disaster resilience with tools like Impact-Based Forecasting, SatREx, and AI-powered systems, such as SkAI-Pinas; while education-focused projects like Resilient Education Information Infrastructure for the New Normal (REIINN) bridge digital divides to strengthen community preparedness. Sustainability efforts led by DOST-Philippine Council for Agriculture, Aquatic, and Natural Resources Research and Development include innovative solutions such as the Remote Online Surveilance for Banana (Rosanna) app for banana disease monitoring; ACTICon biopesticide for sustainable pest control; and the eco-friendly Pest to Feed technology, complemented by biodiversity education tools for environmental stewardship. ‘Need to change the way we do things’ Solidum added that, with support from national government agencies and LGUs, the Science department will persist in deploying technological solutions on the ground and implementing innovative, tailored interventions, as sticking to the status quo is no longer an option. “We need to change the way we do things, and we need to start sooner,” the Science secretary said, adding that current data suggests an unstable global trajectory. He pointed out that while technology and innovation are essential in driving production, wealth creation, and job opportunities, they also come with a shared responsibility—with conscious, intentional, and accountable management of both production and consumption. Endless pursuit of growth, he noted, has consequences. The development and progress achieved over recent years have come at the cost of the environment that the society continues to pay. He recalled that in recent weeks, the country, particularly Luzon, has faced an unprecedented surge of four typhoons within a span of 10 days, marking a record-breaking intensification of the Pacific typhoon season, according to the science secretary. “The impacts have been devastating,” he added, with the agriculture sector, which supports millions of Filipino families, hit hard. Data from the Philippine Statistics Authority reveal that the combined agricultural losses from six typhoons in the third quarter of 2024, along with Severe Typhoon Kristine, amounted to P15.8 billion, while damage to infrastructure, homes, and other assets is estimated at P9.6 billion. “These repeated losses threaten not only our farmers’ livelihoods but also our nation’s food security and economic stability,” Solidum said. “Filipinos are often portrayed as victims of disasters, but through science, technology, innovation, and collaboration, we can rewrite this narrative,” Solidum said. “Let us redefine disaster resilience not only as surviving but also as building economic strength and prosperity in the face of adversity,” he said. The 2024 NSTW was attended by various stakeholders, including LGUs’ representatives, startups, enterprises, legislators, executives, students, and the general public.
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Caprock Group LLC boosted its stake in Realty Income Co. ( NYSE:O – Free Report ) by 28.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,687 shares of the real estate investment trust’s stock after purchasing an additional 1,904 shares during the period. Caprock Group LLC’s holdings in Realty Income were worth $551,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also recently bought and sold shares of O. Atlanta Consulting Group Advisors LLC purchased a new position in Realty Income during the 3rd quarter valued at about $896,000. Code Waechter LLC purchased a new position in shares of Realty Income during the third quarter valued at approximately $1,308,000. Swiss National Bank raised its holdings in shares of Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock valued at $163,921,000 after acquiring an additional 35,100 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Realty Income by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after acquiring an additional 74,185 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Realty Income by 6.5% in the third quarter. Natixis Advisors LLC now owns 302,343 shares of the real estate investment trust’s stock valued at $19,175,000 after acquiring an additional 18,409 shares in the last quarter. Institutional investors own 70.81% of the company’s stock. Insider Transactions at Realty Income In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Company insiders own 0.10% of the company’s stock. Analysts Set New Price Targets Get Our Latest Stock Analysis on O Realty Income Stock Up 0.1 % O stock opened at $57.45 on Friday. The stock has a market capitalization of $50.28 billion, a P/E ratio of 54.71, a P/E/G ratio of 4.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88. The business has a fifty day moving average price of $60.76 and a 200-day moving average price of $58.07. Realty Income ( NYSE:O – Get Free Report ) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $1.02 EPS. Realty Income’s revenue was up 28.1% on a year-over-year basis. Equities analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current fiscal year. Realty Income Increases Dividend The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 annualized dividend and a dividend yield of 5.50%. This is a boost from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Realty Income’s dividend payout ratio is presently 300.95%. Realty Income Profile ( Free Report ) Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust (“REIT”), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients. Featured Articles Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Co. ( NYSE:O – Free Report ). Receive News & Ratings for Realty Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Realty Income and related companies with MarketBeat.com's FREE daily email newsletter .Romania's top court scraps presidential election
Avior Wealth Management LLC increased its position in DICK’S Sporting Goods, Inc. ( NYSE:DKS – Free Report ) by 276.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,172 shares of the sporting goods retailer’s stock after buying an additional 861 shares during the quarter. Avior Wealth Management LLC’s holdings in DICK’S Sporting Goods were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other large investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in DICK’S Sporting Goods during the 2nd quarter worth approximately $28,000. Covestor Ltd lifted its holdings in shares of DICK’S Sporting Goods by 70.5% during the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares during the period. ORG Partners LLC bought a new stake in shares of DICK’S Sporting Goods in the second quarter worth $30,000. ORG Wealth Partners LLC acquired a new stake in DICK’S Sporting Goods in the third quarter valued at $30,000. Finally, Innealta Capital LLC acquired a new position in DICK’S Sporting Goods during the 2nd quarter worth about $31,000. Institutional investors own 89.83% of the company’s stock. DICK’S Sporting Goods Price Performance DKS stock opened at $210.11 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The business has a 50-day simple moving average of $205.72 and a two-hundred day simple moving average of $210.26. The company has a market capitalization of $17.11 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 2.27 and a beta of 1.64. DICK’S Sporting Goods, Inc. has a 52-week low of $119.84 and a 52-week high of $239.30. DICK’S Sporting Goods Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, September 20th. DICK’S Sporting Goods’s payout ratio is currently 32.28%. Wall Street Analysts Forecast Growth DKS has been the subject of several recent research reports. Barclays raised their price objective on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. UBS Group raised their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Citigroup reduced their price objective on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $235.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.62. Check Out Our Latest Stock Analysis on DICK’S Sporting Goods DICK’S Sporting Goods Profile ( Free Report ) DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories. Featured Articles Want to see what other hedge funds are holding DKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DICK’S Sporting Goods, Inc. ( NYSE:DKS – Free Report ). Receive News & Ratings for DICK'S Sporting Goods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DICK'S Sporting Goods and related companies with MarketBeat.com's FREE daily email newsletter .TAURANGA, New Zealand--(BUSINESS WIRE)--Dec 19, 2024-- Craigs Investment Partners (“Craigs” or “the Firm”), a leading wealth management firm in New Zealand, today announced that TA Associates (“TA”), a leading global private equity firm, has signed a conditional agreement to make a strategic investment in the Firm. Under the agreement, Craigs’ existing employee and director shareholders will retain 50 percent ownership of the Firm, partnering closely with TA. This press release features multimedia. View the full release here: “TA is an ideal partner to support Craigs’ growth ambitions and ongoing commitment to client outcomes given its significant global experience investing in wealth management, and its strong understanding of the regional market,” said Simon Tong, CEO of Craigs. “Craigs and TA are aligned on a client-first philosophy and the importance of a personalized approach to wealth management. Client outcomes remain our top priority, and there will be no change in the people or our approach to providing outstanding service to our clients.” The partnership between Craigs and TA aims to further enhance Craigs’ position as a leader in the New Zealand wealth management market while enabling its continued expansion. Leveraging over 50 years of experience helping high-quality companies grow, TA will provide deep industry knowledge, strategic resources and a robust global network to accelerate Craigs’ growth strategy. “This is an exciting opportunity that connects our local team with TA’s extensive global experience in wealth management, supporting our ability to deliver enhanced outcomes for clients in an increasingly dynamic environment. Access to TA’s international network, best practices and insights will help us elevate our services while maintaining the personalised approach that sets us apart,” Tong continued. “Over the past 40 years, Craigs has established itself as one of the largest and most respected wealth management firms in New Zealand, offering a comprehensive range of personalised wealth advice and services to its clients,” said Edward Sippel, head of TA Associates Asia Pacific Ltd. and a Managing Director at TA. “We deeply respect this history and are honoured to support the Firm’s continued growth strategy and commitment to delivering best-in-class client outcomes.” “TA has a long history of partnering with world-class wealth managers like Craigs,” said Lily Xu, Vice President at TA. “We are excited to collaborate with the entire Craigs team to expand the Firm’s reach, continue enhancing its service offerings, and explore strategic M&A opportunities.” The agreement remains subject to certain approvals being obtained, including Court approval, Craigs’ shareholder approval and Overseas Investment Office (‘OIO’) consent. Settlement is expected to occur late in the first quarter of 2025. Financial terms were not disclosed. Craigs Investment Partners Limited is a NZX Participant firm. Craigs Investment Partners Limited’s Financial Advice Provider Disclosure Statement can be viewed at . Please visit for more information on Craigs Investment Partners financial advice services. Craigs Investment Partners is one of New Zealand's largest investment advisory firms, offering bespoke solutions to both private investors and corporate clients. Craigs provides the complete breadth of private client and wealth management services including investment advice and management, securities trading, research, cash management, institutional dealing, and investment banking. Craigs has over 180 qualified Investment Advisers, servicing over 65,000 private wealth investors across 19 branches in New Zealand. Craigs has a team of 650 employees, $32 billion in funds under advice (“FUA”), and is currently 100% owned by employee and director shareholders. TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at . View source version on : CONTACT: For more information, please contact: Craigs Investment Partners:Tania Bui |tania.bui@craigsip.com TA Associates:Maggie Benoit |mbenoit@ta.com KEYWORD: AUSTRALIA/OCEANIA NEW ZEALAND ASIA PACIFIC INDUSTRY KEYWORD: BANKING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Craigs Investment Partners Copyright Business Wire 2024. PUB: 12/19/2024 04:38 PM/DISC: 12/19/2024 04:36 PM
Mumbai: The BMC plans to appoint Veermata Jijabai Technological Institute (VJTI) to conduct a thorough technical audit for the construction of the twin tunnel and box tunnel under the Goregaon-Mulund Link Road (GMLR) project. This third party audit will assess the design, construction, and safety standards of the tunnels, ensuring that the project meets the highest technical and environmental benchmarks. The 4.7-km-long underground twin tunnels, set to be constructed in the third phase of the ambitious GMLR project, will pass beneath the Sanjay Gandhi National Park (SGNP). This vital infrastructure initiative is designed to ease traffic congestion across the city's existing east-west corridors. The twin tunnels will each extend 4.7 km, while the box tunnel will span 1.6 km. These tunnels are designed with a diameter approximately 13 meters and will be dug to depths ranging from 20 to 160 meters. "The construction of the twin tunnels faced challenges when two tribal hamlets, Habale Pada and Nagar Mudi Pada, located within Film City, raised objections," said a senior civic official. "So we decided to realign the tunnels by 600 meters to bypass the tribal farmlands. Additionally, a survey was conducted recently to assess the number of trees that will be affected, as many are situated along the original alignment of the tunnels. We have also consulted VJTI for a third-party technical audit to ensure the project meets the highest safety and environmental standards," he added. The realignment of the twin tunnels in the GMLR project, necessary to bypass tribal farmlands in Film City, will increase the original project cost by Rs 250 crore, bringing the total to Rs 6,551 crore. Prime Minister Narendra Modi launched the project on July 13, with excavation set to begin using a TBM. Civic officials assure that construction will not harm the environment of the SGNP, including its flora, wildlife, Aarey, and Tulsi lakes. The, GMLR project, expected to cost Rs 14,000 crore, will be completed by 2028, cutting travel time between Mulund and Goregaon from 75 to 25 minutes and easing congestion on key city routes. The 12.2 km road will seamlessly connect the Western Express Highway at Goregaon the Western Express Highway at Goregaon to the Eastern Express Highway at Mulund, improving connectivity. The GMLR project is expected to play a crucial role in reducing traffic bottlenecks on key routes like the Santacruz-Chembur Link Road, Andheri-Ghatkopar Link Road, and Jogeshwari-Vikhroli Link Road, offering a smoother, faster commute for residents and commuters.