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Collapse of the Assad Regime in Syria, Dec 2024, Events & Aftermath
FALLS CHURCH, Va., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation NOC announced today that its board of directors has authorized an additional $3 billion for the repurchase of the company's common stock, increasing the outstanding authorized amount to approximately $4.2 billion. Share repurchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions. Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day. Note: Statements in this press release contain or may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "anticipate," "intend," "may," "could," "should," "plan," "project," "forecast," "believe," "estimate," "guidance," "outlook," "trends," "goals" and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date of this release, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Contact: Todd Ernst 703-280-4535 todd.ernst@ngc.com newsbureau@ngc.com This press release was published by a CLEAR® Verified individual. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Some 43 per cent said they expect US equities to be the best-performing asset class in 2024, compared with 27 per cent of respondents pre-election. SINGAPORE - More Asian business owners and large family offices are increasing their allocations to US equities and real estate, fuelled by optimism over US President-elect Donald Trump’s pro-business policies. As a result, they are seeking help to structure their US investments and address any tax compliance issues ahead of Trump’s inauguration, scheduled on Jan 20, 2025. While the S&P 500 US stock market index has been tempered in recent days by inflation concerns, it remains near record highs and is up more than 20 per cent this year. According to the latest Global Fund Manager Survey from Bank of America, respondents were more optimistic after the US election, which took place on Nov 5. Allocations to US equities surged post-election to the highest level since August 2013, with investors holding 29 per cent of the asset class, compared with 10 per cent in October. Some 43 per cent said they expect US equities to be the best-performing asset class in 2024, compared with 27 per cent of respondents pre-election. “A number of our clients are allocating more of their assets to US real estate and equities because one of the core fundamental tenets of what Trump wants to do is reduce the corporate red tape as well as corporate tax rate from 21 per cent to 15 per cent,” said Mr Kurt Rademacher, partner and head of US private client at international law firm Charles Russell Speechlys. “That’s going to help corporate earnings after tax, which could drive up stock prices. If businesses are doing better, there’s more money in people’s pockets. That would potentially also increase the real estate market as a rising tide lifts all boats.” Within the first eight trading days since the US election results, the market value of US equities increased by US$2 trillion (S$2.7 trillion), or 3 per cent. The US dollar gained 3 per cent against an index of the most liquid currencies. Mr Rademacher, who splits his time between Singapore and the US, said regional clients are seeking help to structure their US investments and address any US tax compliance issues. The seasoned professional in international wealth transfer planning told The Straits Times that in Asia, many of the ultra high-net-worth (UHNW) families from China, Indonesia, Taiwan and the Philippines have some US connections. Most of them have children studying there, are working on Wall Street or are married to an American. “We step in and try to manage the tax situation for them. For those few clients in the region who don’t have US family members, they all have US equity exposure or US real estate exposure, and they too need advice,” Mr Rademacher said. A lawyer with another law firm also shared that he has been kept busy handling inquiries from wealthy clients who want to invest in the US, leveraging Singapore family offices as an investment vehicle to do so. Charles Russell Speechlys’ head of private office Marcus Yorke-Long said Trump’s victory provides direction, which in turn underpins investor confidence as there is now an element of predictability that can be applied to global markets and geopolitics. “Mr Trump has a very strong voice, and he now also has a very strong mandate. Investors and families tend to find it somewhat easier to plot their path when there are elements of conviction and direction as opposed to uncertainty and mixed messages,” said Mr Yorke-Long, whose team handles relationships with global families seeking broad conversations across sectors, territories and generations. Political change provides an opportunity for UHNWs to review their global structures and tax mitigation strategies, Mr Yorke-Long said. Mr Rademacher said individuals who have not filed their US income tax returns should do so promptly, as the Internal Revenue Service is ramping up efforts to pursue non-filers. He added that Singaporeans who have China-centred manufacturing business can expect a period of uncertainty and chaos. This is because Trump has announced his intention to impose a blanket tariff ranging from 10 per cent to 20 per cent on all imports, along with additional tariffs of at least 60 per cent on products imported from China. Goldman Sachs expects the US to impose additional tariffs averaging 20 per cent on Chinese products in the first half of 2025. “There are lots of questions about whether Trump really wants a 60 per cent import duty, or whether what he really wants is a free trade agreement with China, or freer trade agreement with China. “But there will be a period of time when that’s going to be difficult for Singaporean clients with Chinese businesses in the manufacturing sector,” said Mr Rademacher. Even allies of the US may be affected by Trump’s tariff-fuelled war as global trade remains strongly intertwined with the US and Chinese economies. Allianz Trade, an insurance group, said rising US-China tensions are reshaping global supply chains and paving the way for new trade powerhouses. It identified 25 economies that could benefit from this new world order. “Beyond fast-growing economies such as India, this shift has opened doors for nations like Vietnam, Malaysia, Indonesia, and the United Arab Emirates to step up as next-generation trade hubs,” Ms Francoise Huang, senior economist for the Asia-Pacific and trade at Allianz Trade said. For everyone else with US connections, they should be better off from a pure tax policy perspective, Mr Rademacher said. Join ST's WhatsApp Channel and get the latest news and must-reads. Read 3 articles and stand to win rewards Spin the wheel now
The Provincial Councils and Local Government Ministry said the ‘Clean Sri Lanka’ programme will begin from January 1. This programme will be implemented by focusing on 341 Local Government bodies. The programme is designed to foster the social, environmental, and ethical awakening of the country while strengthening environmental, economic and social sustainability. It also aims to enhance the efficiency of state machinery to ensure the successful realisation of its objectives. A Gazette notification was issued recently establishing an 18 member Presidential Task Force to plan and implement the “Clean Sri Lanka” Programme, a key feature in President’s policy statement. They have been tasked with preparing a plan, guide, implement, review the progress and complete the “Clean Sri Lanka” programme within a given time frame aiming to achieve the objectives of elevating society to a more advanced status through a social, environmental and ethical awakening. The Task Force is headed by Secretary to the President Dr.N.S.Kumanayake. The other members are the Army, Navy and the Air Force Commanders, the acting Inspector General Priyantha Weerasuriya, Urban Development Authority Chairman Kumudu Lal De Silva, I.S.Jayaratna, Gihan De Silva, Sandya Salgado, Dr.Gamini Batuwitage, Dr. Anuruddha Gamage, Dilruk Wanasinghe, Deepal Sooriyaarachchi, Sisira Amarabandu, Krishantha Cooray, Jayathu Perera, Ruwan Weerasooriya and Dayan Karunarathna. The said Presidential Task Force should submit reports to the President from time to time, in respect of the execution of the aforesaid tasks.
Boeing airplanes are now coming into a wave of online storm, originating from the disastrous Jeju Air plane crash in South Korea , followed by a group of other incidents that are sparking global concerns about the safety of the planes made by the aviation giants. The plane involved in the South Korea crash was a Boeing 737-800, a precursor to the 737 Max, and according to latest reports, nearly 200 airlines use the 737-800 across the globe, which is becoming a concerning factor for passengers now. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Global fleet of Boeing planes under scrutiny Across thousands of passenger planes flying globally, at least 4000-plus aircrafts are Boeing 737-800s. Although this Boeing series an advanced series, but it has recently been in the wave of complaints and multiple incidents happening across the globe. Asia, Europe and North America are some of the major continents where Boeing airplanes are used, especially the 737-800 series, says an NYT report. Boeing claims planes are safe, but is it really? Even though Boeing officials claim that this aircraft series has a good safety record, some of the latest incidents are putting major airline companies in a sport of worry. The age of the global fleet of this airplane series ranger between 5 years to 27 years, with the 17-plus year olds mostly in hangars or are being scrapped or grounded. The Jeju Air plane that crashed in South Korea was 15 years old, says the flight tracking website Flightradar24. Even though air travel still remains one of the safest mode of transportation across the world, Boeing planes, be it in the US, Australia, Canada, South Korea and other regions are constantly facing hassle in terms of flight safety, accident scares, and even crashes. FAQs: What is bird strike on an airplane? A bird strike can be hazardous to aircraft safety and jets are especially vulnerable to loss of power if birds are sucked into the twin engines, potentially causing a crash-like situation. 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A Boeing 737-800 flight has crashed in South Korea recently, claiming the lives of more than 120 passengers. (You can now subscribe to our Economic Times WhatsApp channel )NoneMASVINGO- As part of its corporate social responsibility, Sino Mine-run Bikita Minerals has constructed a US$1 million state-of-the-art clinic to benefit workers and the community. Bikita Minerals Managing Director Xuedong Gong said at the official opening on Tuesday that the project was embarked upon after realising that the old clinic could no longer meet the demands of the current needs. “We invested over US$1 million in the construction and procurement of requirements for the clinic,” said Gong. The clinic has two sections that include a double-storey building with 16 rooms. The double-storey section accommodates the X-ray control room, spirometry room, audiometry, cardiovascular, vision screener, theatre, operation, consultation rooms, observations, private wards, conference room, doctor’s offices and nurses’ room. The other section of the clinic which is not double storey has a casualty ward, male and female wards with six beds, a labour ward, a consultation room, a treatment room, a dispensary and laundry. “The mine has been investing in various environmental and social governance issues in the community that include education, drilling of 33 boreholes for the community’s health initiatives, road rehabilitation, power generation and empowerment through Chief Marozva Community Funds,” added Gong. Bikita Minerals is the largest lithium mining company in Zimbabwe and is operating at 95% capacity utilisation. The company has been experiencing challenges that include depressed lithium prices on the international market which has made it difficult for the company to carry out some of the projects it intended to undertake. Gong said the company is committed to setting up a US$500 million smelting plant over the next four years.“The smelting plant will further add value to our lithium from the current beneficiation process. We submitted our beneficiation plans for the smelter to our parent Ministry, Ministry of Mines and Mining Development. We are working on the feasibility studies of the plant, and we continue to work towards achieving our goal,” he added. Bikita Minerals Public Relations and Corporate Social Responsibility Officer, Collen Nikisi said the project was wholly funded by Bikita Minerals and its employees totalling 1078 including 2500 from the contractors and the surrounding community will benefit from the services at the clinic. Minister of State for Provincial Affairs and Devolution for Masvingo, Ezra Chadzamira officially opened the clinic.