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Romanian politicians have voted in favour of a new pro-European coalition government led by incumbent Prime Minister Marcel Ciolacu. The move could usher in an end to a protracted political crisis in the European Union country following the annulment of a presidential election by a top court. Parliament approved the new administration in a 240-143 vote in Romania’s 466-seat legislature. The new coalition is made up of the leftist Social Democratic Party (PSD) the centre-right National Liberal Party (PNL), the small ethnic Hungarian UDMR party and national minorities. It caps a month-long period of turmoil in which far-right nationalists made significant gains in a parliamentary election on December 1 a week after a first-round presidential race saw the far-right outsider Calin Georgescu emerge as the front-runner. “It will not be an easy mandate for the future government,” Mr Ciolacu, whose PSD party topped the polls in the parliamentary election, said in a statement. “We are aware that we are in the midst of a deep political crisis,” he said. “It is also a crisis of trust, and this coalition aims to regain the trust of citizens, the trust of the people.” Romania’s 16 ministerial positions will be shared among the parties, which will hold a slim majority in the legislature. It is widely seen as a tactical partnership to shut out far-right nationalists whose voices found fertile ground amid high living costs and a sluggish economy. Mr Ciolacu, who came third in the first-round presidential ballot despite polls indicating he would win the most votes, has served as prime minister since June 2023. After parliament’s approval, President Klaus Iohannis swore in the new government and warned the new Cabinet that it is entering a “difficult new period” in which “for many Romanians, there are major concerns”. Romania was plunged into turmoil after Mr Georgescu’s surprise success in the presidential race, after allegations of electoral violations and Russian interference emerged. Days before the December 8 run-off, the Constitutional Court made the unprecedented move to annul the presidential race. “We go through complicated times, but I think we all learned from mistakes of the past,” Mr Ciolacu said. “I hope that together with my colleagues in the coalition, we’ll find the best solutions to get past the challenges we have in front of us.” Mr Ciolacu said that the new government would aim to quickly organise the rerun of the presidential election in which the new coalition has agreed to put forward an agreed common pro-European candidate. Cristian Andrei, a political consultant based in Bucharest, said that the new government made up of the same political parties will likely embrace “soft populist” rhetoric such as economic patriotism, anti-austerity, and a peace solution in neighbouring Ukraine to counter the rise of far-right populism. “This will be a way to answer the concerns of many Romanians who voted for populists... but will not solve the fundamental problem of trust,” he said. “The only decisive factor now will be who and how convincing the pro-European candidates will be against this popular revolt.” George Simion, the leader of the far-right Alliance for the Unity of Romanians, which came second in the parliamentary election, said that all politicians from his party on Monday would vote against the Ciolacu government. In 2021, the PSD and the PNL also formed an unlikely but increasingly strained coalition together with UDMR, which exited the Cabinet last year after a power-sharing dispute.
PICKERING, ON , Dec. 18, 2024 /CNW/ - MTL Cannabis Corp. MTLC ("MTL" or the "Company") announces that it has fully repaid its 13.25% mortgage payable originally issued by MTL's predecessor company to a private lender prior to the Company's business combination with Canada House Cannabis Group. MTL fully paid off the mortgage in the amount of $2,129,423.90 , consisting of a principal amount of $2,105,871.57 and interest and fees of $23,552.33 . "We are very fortunate to be in a position to continue to self-fund our ongoing organic growth, expansion of our operating assets, and reducing our interest expenses to maximize financial flexibility and strengthen our balance sheet." Commented Michael Perron , CEO of MTL Cannabis Corp. About MTL Cannabis Corp. MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire , Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville , Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. For further information, please visit www.mtlcorp.ca/ or the Company's public filings at www.sedarplus.ca . Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act ( Canada ); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. SOURCE MTL Cannabis Corp. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/18/c2394.html © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Meta User Base, AI-Powered Ad Growth Drive Analyst Optimism
Experts have emphasised the use of modern technology and skills to increase agricultural productivity in the country. Speaking on the Farmer's Day in a broadcast with Express News anchorperson Syed Muzammil Shah, they also highlighted that balanced use of fertilizers can significantly enhance crop yields. The agricultural experts called for a systematic framework involving the government, farmers and other stakeholders to determine support prices for crops. Syed Muzammil Shah said that in 2019, on the suggestion of Fatima Fertilizer, the federal government had decided to designate December 18 for farmers. Fatima Fertilizer Marketing and Sales Director Rabail Sadozai said that till the previous year, the agriculture sector's contribution in the country's Gross Domestic Product (GDP) was 24 per cent, which depicted that Rs25 trillion annually was being received from it. Apart from this, 38% of the rural population gets employment from this sector. She went on to say that 65% of the total exports were from agriculture and related products. "When we look at these statistics, it is clear how much significance this sector has in the country's economy, but when we look at the other side, whether these things are discussed, whether they are given importance, then we see a little gap here," she added. Naseerullah Khan, the Technical Service Manager of Fatima Fertilizer, said the purpose of celebrating the day was to acknowledge the efforts and contribution of farmers to the country's economy and food security. He added that the 8.2 million farmers take care of their crops and livestock so that they can secure their investment and ensure food security. Rabail Sadozai said water scarcity was a big issue at this point of time but no policy was being implemented in this regard yet. Regarding climate change, she said there had been more rainfall, the intensity of heat and cold had increased, which affected crops, but no research had been done in this regard apart from much needed research on seeds either. She said the determination of commodity prices affected farmers a lot but an organised structure in this regard was lacking. She stressed that the government, farmers and other stakeholders needed to sit together and decide on a method in this regard. Answering a question, she said 50% of workers in rural agricultural areas were women, with approximately 22 million women engaged in the sector. Many of them independently manage their farms. Integrating these women into broader agricultural networks is crucial for their personal development and for Pakistan's overall prosperity and progress, she added. Addressing a question on the significance of technology in agriculture, Naseerullah Khan stated that technology is now integral to every sector. He said agriculture's contribution to the GDP could easily be increased by 30 to 40%. COMMENTS Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our
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