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The AP Top 25 men’s college basketball poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . FARGO, N.D. (AP) — Jacksen Moni’s 25 points helped North Dakota State defeat Wisconsin-Stout 91-62 on Friday for its sixth straight win. Moni shot 9 for 13 (4 for 6 from 3-point range) and 3 of 4 from the free-throw line for the Bison (9-4). Treyson Anderson scored eight points and added seven rebounds. Darik Dissette shot 3 of 3 from the field to finish with eight points. Carson Hoffman led the Blue Devils in scoring, finishing with 11 points. Justin Nelson added nine points and Dominic Croci recorded eight points. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
GRAPEVINE, Texas, Dec. 10, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the third quarter ended November 2, 2024. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at https://investor.gamestop.com. THIRD QUARTER OVERVIEW Net sales were $0.860 billion for the period, compared to $1.078 billion in the prior year's third quarter. Selling, general and administrative (“SG&A”) expenses were $282.0 million for the period, compared to $296.5 million in the prior year's third quarter. Net income was $17.4 million for the period, compared to a net loss of $3.1 million for the prior year’s third quarter. Cash, cash equivalents and marketable securities were $4.616 billion at the close of the quarter. During the quarter, the Company completed its previously disclosed "at-the-market" equity offering program pursuant to the prospectus supplement filed with the SEC on September 6, 2024 by selling 20.0 million shares of its common stock for aggregate gross proceeds of approximately $400.0 million (before commissions and offering expenses). The Company does not anticipate any further at-the-market offerings involving the offer and sale of its common stock during the current fiscal year. The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-Q. NON-GAAP MEASURES AND OTHER METRICS As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), GameStop may use certain non-GAAP measures, such as adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA and free cash flow. The Company believes these non-GAAP financial measures provide useful information to investors in evaluating the Company’s core operating performance. Adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share and adjusted EBITDA exclude the effect of items such as certain transformation costs, asset impairments, severance, as well as divestiture costs. Free cash flow excludes capital expenditures otherwise included in net cash flows provided by (used in) operating activities. The Company’s definition and calculation of non-GAAP financial measures may differ from that of other companies. Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company’s financial position, results of operations or cash flows and should therefore be considered in assessing the Company’s actual and future financial condition and performance. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s current beliefs, views, estimates and expectations, including as to the Company’s industry, business strategy, goals and expectations concerning its market position, strategic and transformation initiatives, future operations, margins, profitability, sales growth, capital expenditures, liquidity, capital resources, expansion of technology expertise, and other financial and operating information, including expectations as to future operating profit improvement. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; the Company’s ability to manage its profitability and cost reduction initiatives; turnover in senior management or the Company’s ability to attract and retain qualified personnel; potential damage to the Company’s reputation or customers' perception of the Company; the Company’s ability to maintain the security or privacy of its customer, associate or Company information; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; potential future litigation and other legal proceedings; the value of the Company’s securities holdings; concentration of the Company’s investment portfolio into one or few holdings; the recognition of losses in a particular security even if the Company has not sold the security; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on the Company’s financial results; and the Company’s ability to maintain effective control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. GameStop Corp. Schedule II (in millions, except per share data) (unaudited) Non-GAAP results The following tables reconcile the Company's selling, general and administrative expenses (“SG&A expense”), operating loss, net income (loss) and net income (loss) per share as presented in its unaudited consolidated statements of operations and prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to its adjusted SG&A expense, adjusted operating loss, adjusted net income (loss), adjusted EBITDA and adjusted net income (loss) per share. The diluted weighted-average shares outstanding used to calculate adjusted earnings per share may differ from GAAP weighted-average shares outstanding. Under GAAP, basic and diluted weighted-average shares outstanding are the same in periods where there is a net loss. The reconciliations below are from continuing operations only. GameStop Corp. Schedule III (in millions) (unaudited) Non-GAAP results The following table reconciles the Company's cash flows provided by (used in) operating activities as presented in its unaudited Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the company’s financial performance. Non-GAAP Measures and Other Metrics Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are supplemental financial measures of the Company’s performance that are not required by, or presented in accordance with, GAAP. We believe that the presentation of these non-GAAP financial measures provide useful information to investors in assessing our financial condition and results of operations. We define adjusted EBITDA as net income (loss) before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs, business divestitures, asset impairments, severance and other non-cash charges. Net income (loss) is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include: certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share may be defined and determined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Contact GameStop Investor Relations 817-424-2001 ir@gamestop.comLANDOVER, Md. (AP) — Jayden Daniels connected with Zach Ertz in overtime for his third touchdown pass of the game to get the Washington Commanders into the playoffs by beating the Atlanta Falcons 30-24 on Sunday night in a back-and-forth prime-time showdown between highly drafted rookie quarterbacks. Daniels ran for a season-high 127 yards and completed 24 of 36 passes for 227 yards and had two TD passes to Ertz and another to Olamide Zaccheaus to make the playoffs in his rookie year. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.IRS recovers $4.7 billion in taxes from scofflaws. But it's bracing for funding cuts under Trump
UNITED NATIONS (AP) — Israeli airstrikes hit Yemen’s main airport as a civilian Airbus 320 with hundreds of passengers on board was landing and a U.N. delegation was waiting to leave, the U.N.‘s top humanitarian official in Yemen said Friday. Julien Harneis told U.N. reporters that the most frightening thing about the two airstrikes on Thursday wasn’t their effect on him and about 15 others in the VIP lounge at the international airport in Yemen’s capital, Sanaa, including the head of the U.N. World Health Organization. Rather, it was the destruction of the airport control tower as a Yemenia Airways plane was taxiing in after touching down. “Fortunately, that plane was able to land safely and the passengers were able to disembark, but it could have been far, far worse,” said Harneis, who was with . He said one airstrike landed approximately 300 meters (330 yards) south of the VIP lounge and another about 300 meters to the north around 4:45 p.m., while about five members of the U.N. team were outside the building. “Not only obviously did we have zero indication of any potential airstrikes, but we cannot remember the last time there were airstrikes in Sanaa during daylight hours,” Harneis said in a video news conference from Sanaa. The U.N. said at least three people were killed and dozens injured in the strike. Among the injured was a crew member from the U.N. Humanitarian Air Service, which was about to fly the U.N. delegation of some 20 people out of Sanaa. He suffered a serious leg injury from shrapnel and lost a lot of blood, Harneis said. Immediately after the airstrikes, Harneis said, U.N. security officials moved the delegation out of the VIP building and into five armored cars where they waited for approximately 40 minutes to ascertain what happened and help the injured crew member. He was taken to a hospital in Sanaa and underwent four hours of surgery while the rest of the delegation spent the night in a U.N. compound, Harneis said. The U.N. plane with Tedros and the U.N. team, including the injured crew member, was able to depart for Jordan on Friday afternoon – without an operating control tower. The United Nations said the injured crew member was taken to a hospital in Jordan, and Tedros was heading back to Geneva, where WHO is based, Yemen’s Iran-backed Houthi rebels, who control Sanaa and much of the country’s north, have gone after Israel since attacks by Gaza’s Hamas militants on southern Israel. The Houthis have attacked ships in the Red Sea, disrupting one of the world’s main maritime routes, and recently . Israel has escalated its response. The Israeli army said it wasn’t aware that the WHO chief or U.N. delegation were at the Sanaa airport on Thursday. Israel said it bombed the airport because it is used by the Houthis and Iran. Harneis responded, stressing that the airport is civilian, not military, and is used for transporting U.N. and other humanitarian workers, and for one civilian flight — Yemenia to and from Amman, Jordan. The flight operates as a result of an international agreement, and thousands of Yemenis have used the flight to get advanced medical treatment abroad, he said. Yemen is the Arab world’s poorest nation and has been engulfed in a 10-year civil war between the Houthi rebels, who control Sanaa and much of the country’s north, and the internationally recognized government forces in the south. Tedros was in the country to discuss its worsening humanitarian crisis and to seek the release of about 50 people detained by the Houthis since June from the U.N., nongovernmental organizations and civil society. Harneis said 18 million Yemenis — about half the country’s population — need humanitarian assistance this year, and the U.N. expects the number to increase to 19 million next year because of . In addition to airstrikes on the Sanaa airport, Israel has been attacking the country’s key port of Hodeida, in western Yemen. Harneis said Yemen relies on imports through Hodeida for 80% of its food and more than 90% of its medical supplies to the north. A recent Israeli airstrike destroyed two tugboats and is estimated to have reduced the harbor’s capacity by 50%, the U.N. official said, while damage from Thursday’s airstrikes hasn’t been assessed yet. As for the detainees, Harneis said he joined the WHO chief at meetings with the Houthi prime minister, foreign minister and a member of the group’s Supreme Political Council. He said they received commitments on the detainees’ possible release and a pathway to it, and on conditions under which they are being held.
Player poll reveals tax-free deals may not attract stars to PNGMahakumbh 2025 will feature dedicated centres, luxury accommodations, multi-language assistance, and digital experiences for NRIs and foreign tourists. Enhanced transportation, security, and cultural programs will ensure a smooth and immersive experience for all visitors. Prayagraj : Preparations for Mahakumbh Mela 2025 are progressing at full speed, with the government focused on providing VIP facilities for visitors, especially non-resident Indians (NRIs) and foreign tourists. Mahakumbh is a major religious and cultural event held every 12 years at four prominent pilgrimage sites in India — Haridwar, Prayagraj, Ujjain, and Nashik. To ensure a smooth and enjoyable experience for attendees, the authorities are implementing a range of services and special arrangements. Dedicated centres for NRIs and foreign tourists To cater to the needs of NRIs and foreign visitors, dedicated NRI and tourist centres will be set up at the venue. These centres will provide services such as multi-language assistance, travel guides, and local information. There will also be special welcome centres to ensure that guests feel comfortable upon arrival. Visitors can access online booking and registration services through a dedicated website and mobile app, where they can book accommodation, pilgrimage packages, and other online services in advance. VIP accommodation and transportation Mahakumbh 2025 will offer luxury accommodation options to make the stay of NRIs and foreign tourists more comfortable. Special luxury tent cities and resorts will be available, featuring air-conditioned tents with modern amenities and personal security. Transportation services are also being improved. The Prayagraj airport, which began operations two years ago, will offer night landing facilities and flight services from major cities during the event. Visitors can also avail shuttle buses and helicopter services from the airport to nearby areas. For local travel, luxury buses and taxis will be exclusively available for NRIs and foreign tourists. Multi-language assistance and digital experience To assist visitors, multi-language guides proficient in languages such as English, French, German, and Japanese will be present. Information centres will also have multi-language signage to help visitors navigate the site. A major highlight of the event will be the digital experience, which will offer a virtual tour of the Maha Kumbh, allowing attendees to explore key aspects like the ‘Samudra Manthan’ through virtual reality. Additionally, there will be a digital museum, QR-based passes for easy access, and multilingual digital signage for better navigation. Google Maps integration will help visitors avoid confusion and ensure they can easily find their way. Cultural and spiritual programs In addition to the religious significance of the event, visitors will have the opportunity to explore India’s rich culture and spirituality. Cultural and spiritual centres will showcase exhibitions and workshops on topics like Indian culture, yoga, meditation, and the significance of the Kumbh Mela. Networking events will also be organized, offering NRIs and foreign tourists the chance to interact with locals and the NRI community. Special stalls will be set up to showcase traditional Indian cuisine and local handicrafts, allowing visitors to experience the best of India’s culture. Security arrangements In terms of security, advanced measures will be implemented. The event will have a seven-tier security system, with dedicated arrangements for foreign tourists to ensure their safety. A toll-free helpline will also be available to assist visitors in emergencies. Parking will be another important focus. The event will feature 101 smart parking facilities with a capacity to accommodate 5 lakh vehicles daily. Parking areas have been expanded, with the total parking space increasing from 1,103.29 hectares in 2019 to over 1,867.04 hectares in 2025. The parking areas will be monitored through an Integrated Control Command Centre. For added convenience, digital Lost & Found centres will be set up in the mela area, equipped with AI tools and social media platforms to help reunite lost visitors with their belongings. Additionally, there will be 328 AI-enabled cameras to monitor the area, ensuring enhanced safety. Cashless payments and currency exchange Cashless payment options will be available for tourists, and authorized currency exchange centres will be set up to facilitate easy currency conversion for foreign visitors. Maha Kumbh 2025 promises to be a grand event with a perfect blend of spiritual, cultural, and technological experiences. With these special arrangements, NRIs and foreign visitors can expect a seamless and memorable experience. Click for more latest India news . Also get top headlines and latest news from India and around the world at News9. Dimple Singh is a journalist by profession and an accomplished author. Currently serving as a Senior Sub-Editor at News 9, she brings with her 5 years of valuable experience in digital journalism from her previous company Times Of India. Her expertise lies in writing about crime and political news, where she skillfully combines her digital news writing abilities with a deep understanding of AI technology.In the realm of literature, Dimple has authored five compelling fictional books. Her writing reflects a passion for powerful storytelling, capturing the imaginations of readers with every word. Dimple is known for her workaholic nature, dedicating herself wholeheartedly to her profession and her love for words. Latest News
Cambodia’s economy grew 5.6 per cent in 2023 and is projected to rise to 5.8 per cent in 2024, driven by garment, footwear, and tourism exports. In June, the World Bank admired Cambodia’s economic activity, which peaked in the first quarter of 2024, driven by a revival of services and goods exports despite subdued domestic demand. The country’s economic growth has been 5.6 per cent in 2023, which is expected to improve marginally to 5.8 per cent in 2024, strengthen to 6.1 per cent in 2025 and reach 6.4 per cent in 2026. The projections are based on a revival in garment, travel goods, footwear exports, and tourism expected to propel the ongoing recovery. While the international tourist arrivals improved in the first quarter to 84 per cent of pre-pandemic levels, the exports of garments, travel goods, and footwear rebounded with ASEAN (Association of Southeast Asian Nations) region emerging as Cambodia’s second largest export market after the US. Rising foreign investment in manufacturing and agriculture also contributed to the recovery. Inflation also declined to zero in March with deceleration in food prices. Later in October, IMF (International Monetary Fund) projected economic growth in 2024 at 5.5 per cent. However, the growth drivers – strong rebound in garment and tourism as also observed by the World Bank, remained common in both projections. The inflation projection is around 1.5 per cent prior to an expected convergence to the long-term trend of 3 per cent. In the first half, the inflation moderated to an average of 1.6 per cent, y-o-y. IMF recommended structural reforms to diversify growth drivers and improve productivity. January-September trade The international sales (exports) of various articles of apparel and clothing accessories – both knitted and non-knitted, footwear gaiters, leather and fur goods, as well as some processed textiles, reached $966.98 million in the month of January, accounting for 49.16 per cent of Cambodia’s total export value of $1,967 million. This was 21.64 per cent up from January 2023 and attributed to the global recovery towards the end of 2023, a decrease in the stock levels of textile products at overseas companies, and revitalisation of global tourism, which boosted the demand for GFT products in key markets of the US, EU, Japan, Canada and the UK. By February end, Cambodia cumulatively exported more than $1.6 billion worth of textile products to international markets, surging by nearly a quarter compared to the same period in 2023. The increase in exports was also due to an increase in shipments to member countries of the Regional Comprehensive Economic Partnership (RCEP). Between January and May 2024, Cambodia exported $4.969 billion worth of garments, footwear and travel goods (GFT), growing by 20% y-o-y. In this, combined exports of apparel and textiles accounted for $3.628 billion, rising 22 per cent y-o-y. The positive trend marked a turnaround after 18 months of continuous decline. The GFT sector comprises around 1,680 factories and branches, employing nearly 918,000 workers, mostly female. Export of footwear was worth $615 million—up by 10 per cent YoY, while the figure for travel goods was $726 million—up by 18.8 per cent y-o-y. During the five-month period, the country’s total trade volume increased 12.5 per cent over $19.2 billion during the same period last year. Combining all three quarters from January to September, Cambodia exported textile products, encompassing knitted articles of apparel and clothing accessories (HS Code 61), non-knitted articles (Code 62), other textiles (Code 63), and footwear and gaiters (Code 64), worth $8.758 billion which reflected a 24.51 per cent increase over $7.034 billion (2023). This represented 44.16 per cent of the country’s total export revenue of $19.833 billion. Code 61 products generated revenue of $5.034 billion (up 21.5 per cent), Code 62 amounted to $2.353 billion (up 31.9 per cent), Code 63 accounted for $155.69 million (up 37.7 per cent), and Code 64 brought in $1.214 billion (up 22.4 per cent). The growth in exports over 2023 was largely attributed to Cambodia’s political stability within ASEAN, especially in comparison to Bangladesh and Myanmar. The country’s favourable investment laws, the efficiency of its workers and the availability of skilled labour, the quality and quantity of production, improved transportation infrastructure, and a growing number of international buyers were other major growth drivers. The country also attracted many foreign financiers who are currently investing in textile manufacturing. In terms of country (not region), Canada remained the fourth largest market, after the top three of the US, Japan and Spain, for Cambodian apparel exports during the first six months of 2024. Cambodia’s total apparel exports totalled $5.548 billion, and Canada accounted for 8.29 per cent of the total. During the period, Canada was supplied with apparel worth $452.916 million, with trousers and shorts having the largest share of 36.06 per cent and valued at $163.392 million. Among other apparel categories, jerseys, valued at $74.217 million, had a 16.39 per cent share in total apparel exports; T-shirts amounted to $38.560 million, contributing 8.51 per cent; shirts were worth $31.012 million, had a 6.85 per cent share; and coats, valued at $20.969 million, contributed 4.63 per cent share. EU-switch garment project The four-year tenure of the EU-Switch Garment Project, which promoted sustainable energy practices in the Cambodian garment sector, ended in May. The European Union SWITCH-Asia Grants Programme funded the project. It jointly implemented by the Global Green Growth Institute (GGGI), TAFTAC (Textile, Apparel, Footwear & Travel Goods Association), and Geres in partnership with the MoE (Ministry of Environment) and MISTI (Ministry of Industry, Science, Technology & Innovation). The event was attended by over 100 participants and featured the project’s detailed achievements, and networking opportunities to discuss the future of sustainable garment production in Cambodia. The EU-Switch Garment project aimed to improve the environmental sustainability of the country’s garment industries by offering technical assistance in the form of energy audits, capacity building, technical guidelines, and improved financing access. During the tenure, the Model Green Factory Program—a voluntary tool to become a greener factory—was developed, acknowledged by MoE and MISTI, and adopted by TAFTAC for implementation. The project also contributed to bringing sector stakeholders together to enhance better access to finance. The National Steering Committee held its first meeting on June 20, 2024 in Phnom Penh, chaired by the Permanent Secretary of State, MoE. At the meeting, the Committee members listed work streams for 2024-2025 and decided to focus on two priority work streams that are expected to have a significant impact on Cambodia’s green economic transaction efforts: Enhancing the Government’s technical capacity in economic foresight and fiscal policy: This work stream would support policymakers in using data to make informed decisions and in systematically assessing the economic, social, and environmental impacts of fiscal and economic decisions. Additionally, integrated planning, modelling, and sustainable budgeting would help the Cambodian Government optimise resources, attract new financing, and align with development priorities. Promoting a circular economy with a focus on reducing single-use plastics and implementing the 4R principles within the garment industry: This work stream would aim to decarbonise the garment sector by reducing carbon emissions through technological innovation, aligning with the UNFCCC Fashion Charter principles. It focuses on reducing fabric waste, promoting circular fashion, and supporting the government’s target to reduce plastic use and promote the 4R principles as part of the Circular Strategy on Environment 2023-2028. On the occasion, PAGE (Partnership for Action on Green Economy) also presented a summary brief, developed based on the last year’s policy scoping study conducted in collaboration with the Cambodian Development Resource Institute, outlining five priorities that serve as a roadmap for policymakers and stakeholders to identify the obstacles and opportunities for fostering a green economic transition in Cambodia. Workshop on green initiatives A workshop ‘Reporting on Human Rights Due Diligence (HREDD) and Sustainability Requirements for International Buyers’ was organised on September 19, 2024, by GOPA Consulting Group’s team leading the GIZ-funded project “Services to strengthen capacities for sustainable management in the textile sector” in association with TAFTAC. The workshop marked the end of the project. Held in the headquarters of TAFTAC, the workshop lauded the efforts of 45 TAFTAC member factories for the successful completion of the Model Green Factory Program. The training at the workshop had three main objectives – environmental data management, energy efficiency, and job and data management, which are integral to international sustainability standards. Minimum wages revised The National Council on Minimum Wage (NCMW) – a tripartite body comprising equal representation of labour unions, employer’s associations, and the government, increased the minimum wage for the textile, garment, footwear and travel product industries for 2025, through Prakas 211 which will come into force with effect from January 1, 2025. The new minimum wages will be $208 pm (per month) and $206 pm for regular and probationary workers, respectively. Earlier wages were $204 pm and $202 pm. Prakas 211 also outlined the minimum wage provisions for piece rate workers, who are compensated based on their level of output. These workers have the potential to earn more than the minimum wage if their production yields a higher pay rate. However, if their production results in earnings lower than the minimum wage, their pay is adjusted to meet the minimum wage threshold of $208 pm for regular workers or $206 pm for probationary workers. In addition to the minimum wage, workers will also receive the attendance bonus of $10 pm; travel and accommodation expenses of $7 pm; meal allowances of $0.50 per day; and overtime and seniority bonus of $2 to $11 pm for those between their second to the eleventh year of work. Fibre2Fashion News Desk (SB – WE)Banking tycoon Elumelu spreads joy at his all-white soiree