7 million dollars to php
, /PRNewswire/ -- Forge Institute is proud to announce the launch of the Phoenix Xcelerator, a pioneering program designed to empower & grow startups across the defense and aerospace sectors. Through structured programming—including a rigorous high-quality curriculum, personalized mentorship, and coaching—the Phoenix Xcelerator advances industry-informed and mission-led innovation. The program is funded in-part through a grant from the Arkansas Economic Development Commission (AEDC). is home to over 178 aerospace and defense companies employing more than 10,900 people. Reports from federal sources highlight a decline in defense contractors, with the Department of Defense (DoD) vendors shrinking by 27.6% in the past decade. The Phoenix Xcelerator aims to reverse this trend, empowering startups to address defense challenges and reinforcing leadership in the sector. aerospace and defense exports, valued at over in 2023, represent 13% of the state's total exports, making them the top export category. Furthermore, the Air Force Base reported a economic impact in 2023. Major players like Lockheed Martin, Raytheon, and Dassault Falcon Jet have positioned the state as a hub for defense innovation, with the Phoenix Xcelerator serving as a launchpad for the next wave of industry leaders. The Phoenix Xcelerator offers a 12-week intensive program, guiding participants through business validation, go-to-market strategies, and development of minimum viable products (MVPs) or prototypes. Participants gain expertise in non-dilutive funding opportunities such as SBIR/STTR and other grant programs, as well as access to capital networks for sustained growth. Established companies receive support in maximizing intellectual property and evaluating dual-use markets. Key features include: The program emphasizes emerging technologies like directed energy, artificial intelligence, cybersecurity, drones, ISR and other technologies, ensuring readiness for critical defense challenges. The Phoenix Xcelerator team brings decades of expertise to guide startups toward impactful, scalable growth. Entrepreneurs and companies working on dual-use technologies are encouraged to apply, gaining unparalleled resources and opportunities to innovate within the defense sector. To apply now, visit View original content to download multimedia: SOURCE Forge InstituteThe two-day meeting of the core group of Bihar BJP in Suraj Kund ended on Monday during which the BJP leaders came out strongly in support of JDU chief Nitish Kumar as the leader of the NDA in Bihar. The BJP leaders said the party is willing to contest the upcoming assembly elections under Kumar's leadership. ET Year-end Special Reads Top 10 equity mutual funds of the year. Do you have any? How India flexed its global power muscles in 2024 2024 was the year India became the talk of America "We have a leader and face of the NDA in Bihar. Nitish Kumar is the chief minister of the state and we will go for the upcoming election under his leadership," Bihar BJP president Dilip Jaiswal told ET post the meeting. Before Jaiswal, Bihar deputy CM Samrat Choudhary also reiterated that Kumar is the leader of the alliance. Over the past few days, several BJP state leaders have reiterated that Nitish Kumar remains the leader and the CM face of the alliance. The clarification from the BJP about the CM face in Bihar came after the rumours started going on in political circles of the state that there could be another political shift before the assembly polls. The rumours emanated after the BJP formed the government in Maharashtra with Devendra Fadnavis as the CM. Political watchers in Bihar linked it to the upcoming polls in the state and observed that the Maharashtra model could well be implemented in Bihar. 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Though Shah didn't say anything to create doubt, him not naming Kumar became another news in Bihar. (You can now subscribe to our Economic Times WhatsApp channel )
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WARREN, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Tevogen Bio ("Tevogen" or "Tevogen Bio Holdings Inc.") TVGN , a clinical-stage specialty immunotherapy biotech developing off-the-shelf, genetically unmodified T cell therapeutics to treat infectious disease and cancers, today expresses gratitude to shareholders for their unwavering support and trust in Tevogen Bio and its leadership. The commitment fuels the company's determination to advance its mission of developing accessible, life-saving therapeutics. The company recently announced significant progress through its third quarter financial results for 2024, including, reduction of a net loss by $52.5 million, elimination of nearly all liabilities, and reiterating availability of sufficient capital to fund operations for the next 33 months. Ryan Saadi, MD, MPH, Founder and CEO, Tevogen Bio commented, "We remain steadfast in our mission to advance medical science, however as CEO of the company, preservation of shareholder value remains a priority. We urge all stakeholders to consider the profound impact short selling innovative healthcare companies has on lifesaving therapies. While stock price fluctuations are part of the public market dynamics, Tevogen Bio is acutely aware of the undue influence short sellers have." William Keane, VP of Strategic Initiatives, and graduate of the FBI National Academy stated, "We are aware and monitoring the actions of potential short selling activity targeting our company. We will continue to bring light to this situation and will work with the appropriate authorities as needed." The company plans to provide further updates on its progress in the coming weeks. About Tevogen Bio Tevogen is a clinical-stage specialty immunotherapy company harnessing one of nature's most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen Leadership believes that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science and innovative business models. Tevogen has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted patents, nine pending US and twelve ex-US pending patents, two of which are related to artificial intelligence. Tevogen is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen's leadership believes that accessible personalized therapeutics are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation. Forward-Looking Statements This press release contains certain forward-looking statements, including without limitation statements relating to: expectations regarding the healthcare and biopharmaceutical industries; Tevogen's development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases, cancer and neurological disorders, including TVGN 489 for the treatment of COVID-19 and Long COVID; Tevogen's ability to develop additional product candidates, including through use of Tevogen's ExacTcell platform; the anticipated benefits of ExacTcell; expectations regarding Tevogen's future clinical trials; and Tevogen's ability to generate revenue in the future. Forward-looking statements can sometimes be identified by words such as "may," "could," "would," "expect," "anticipate," "possible," "potential," "goal," "opportunity," "project," "believe," "future," and similar words and expressions or their opposites. These statements are based on management's expectations, assumptions, estimates, projections and beliefs as of the date of this press release and are subject to a number of factors that involve known and unknown risks, delays, uncertainties and other factors not under the company's control that may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations expressed or implied by these forward-looking statements. Factors that could cause actual results, performance, or achievements to differ from those expressed or implied by forward-looking statements include, but are not limited to: that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the effect of the recent business combination with Semper Paratus Acquisition Corporation (the "Business Combination") on Tevogen's business relationships, operating results, and business generally; the outcome of any legal proceedings that may be instituted against Tevogen; changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; changes in domestic and global general economic conditions; the risk that Tevogen may not be able to execute its growth strategies or may experience difficulties in managing its growth and expanding operations; the risk that Tevogen may not be able to develop and maintain effective internal controls; costs related to the Business Combination and the failure to realize anticipated benefits of the Business Combination; the failure to achieve Tevogen's commercialization and development plans and identify and realize additional opportunities, which may be affected by, among other things, competition, the ability of Tevogen to grow and manage growth economically and hire and retain key employees; the risk that Tevogen may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; the ability to develop, license or acquire new therapeutics; that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk of regulatory lawsuits or proceedings relating to Tevogen's business; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with intellectual property protection; Tevogen's limited operating history; and those factors discussed or incorporated by reference in Tevogen's Annual Report on Form 10-K and subsequent filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Tevogen undertakes no obligation to update any forward-looking statements, except as required by applicable law. Contacts Tevogen Bio Communications T: 1 877 TEVOGEN, Ext 701 Communications@Tevogen.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.( MENAFN - IANS) Mumbai, Dec 21 (IANS) Indian benchmark indices declined 5 per cent this week amid global selloff, mainly triggered by the US federal Reserve's caution approach for rate cuts next year, which resulted in relentless selling by the foreign institutional investors (FIIs). With this, Sensex lost over 1,000 points in three out of five trading sessions this week, and nearly Rs 17 lakh crore worth of market cap was eroded out of BSE-listed firms. According to market experts, it had been a dreadful week for the equity markets, as the key indices fell dramatically, erasing the gains of the last four weeks. “The benchmark index experienced a significant decline, plummeting approximately 1,200 points from the previous week's closing figure. As a result, it finished the week below 200 simple moving average (SMA), marking a total loss of nearly 5 per cent,” said Osho Krishnan from Angel One. The Nifty50 experienced a significant decline, as it breached all essential support levels. This downward movement has led the index to approach its most recent swing low, signalling potential volatility in the market. From a technical standpoint, as Nifty slipped below the pivotal zone of 200 SMA, the next potential support could be seen around the recent swing low around 23,200-23,100, while a decisive breach is likely to open further downside towards 22,800 in the near period, said Krishnan. The weak global cues initiated the downward move, but the follow-up sell-off showcases the bears' eagerness to colour the market red ahead of Christmas. On Friday, Sensex settled at 78,041.59, down by 1,176.46 points or 1.49 per cent, and Nifty ended at 23,587.50, down by 364.20 points, or 1.52 per cent. Nifty Bank ended at 50,759.20, down by 816.50 points, or 1.58 per cent. The Nifty Midcap 100 index closed at 56,906.75 at the end of trading after dropping 1,649.50 points, or 2.82 per cent. On the sectoral front, selling was seen in Nifty's Auto, IT, Fin Services, Pharma, FMCG, Metal, Media, Energy, Private Bank, Infra, Commodities, and PSE sectors. Considering the recent developments, it is advised to approach markets with proper risk management and refrain from taking complacent bets for the time being, advised experts. Amid this cautious environment,“we maintain a bullish outlook on new-age, platform-based technology companies,” said Krishna Appala from Capitalmind Research. A balanced investment strategy that combines the stability and fair valuations of large caps with tactical exposure to profitable, domestic-focused tech companies offers a prudent approach to capturing growth potential while managing geopolitical and policy risks, said experts. MENAFN20122024000231011071ID1109018778 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.“Iron ore is among the most vulnerable to China’s slowdown risks, as the country’s property market constitutes the bulk of steel demand,” Ewa Manthey, commodities strategist at ING, said in a research note. China’s property sector, a major driver of steel demand, has been in turmoil. Despite a series of stimulus measures, including interest rate cuts and targeted support, the sector has failed to regain momentum. New home starts, a key indicator of future steel demand, have declined by over 20% year-to-date. China’s steel exports have hit their highest level since 2016, with volumes up more than 20% so far this year To offset sluggish domestic demand, China has ramped up steel exports. However, this trend is expected to slow down as more countries impose trade restrictions and anti-dumping measures on Chinese steel products. “A subdued domestic market has spurred exports this year. China’s steel exports have hit their highest level since 2016, with volumes up more than 20% so far this year,” Manthey noted. “This is, however, likely to slow down moving forward.” Manthey remains cautious about the outlook for iron ore in 2025 China’s declining steel demand is reshaping the global steel market. The country’s share of global steel consumption is set to fall below 50% for the first time in six years. As China shifts its focus to high-tech manufacturing and green technologies, the era of rapid steel consumption fuelled by infrastructure and property booms is drawing to a close, ING noted. While demand remains weak, the supply side of the iron ore market is relatively stable. Major producers like Vale, Rio Tinto, BHP, and Fortescue have maintained production levels. However, high iron ore port inventories in China, which have reached record levels for this time of year, indicate abundant seaborne supplies and a potential imbalance between supply and demand. Manthey remains cautious about the outlook for iron ore in 2025. She believes that the market’s recovery hinges on a sustainable economic recovery in China. Until then, iron ore prices are likely to remain volatile and under pressure. “The continued weakness in the property sector in China remains the main downside risk to our outlook for iron ore,” she said. “With the recovery path for China still bumpy, the market will remain sensitive to Chinese policies and prices are likely to remain volatile.” ING anticipates modest oil demand growth in 2025, driven by both cyclical and structural factors In its Commodities Outlook 2025, ING anticipates a mixed bag for other commodities in 2025, with key risks looming on the horizon. While the commodities complex has shown resilience this year headwinds are gathering for 2025, according to the report authors Warren Patterson, head of commodities strategy at ING, and Manthey. “We came into 2024 with a cautiously optimistic view on the commodities complex, and looking at the complex as a whole we think this has turned out to be the right view,” Patterson and Manthey said. The initial strength in industrial metals has waned. “Industrial metals started the year on a strong footing, but this rally has run out of steam and it’s clear that short-term fundamentals remain bearish.” The energy landscape, meanwhile, presents a mixed picture. While geopolitical risks in the Middle East have persisted, oil prices have weakened. “Price action in oil has been odd, with prices weakening despite a significant amount of geopolitical risk in the Middle East,” said the report. ING anticipates modest oil demand growth in 2025, driven by both cyclical and structural factors. Coupled with strong non-OPEC supply growth and ample OPEC spare capacity, this points towards a potential oil market surplus next year. “For now, we expect the oil market to be in surplus next year – although much will depend on OPEC+ production policy,” Patterson and Manthey said. Natural gas markets have exhibited a different trajectory. “For European natural gas, we are cautiously bearish on prices through 2025, but this hinges on developments over the winter.” A normal winter and the ramp-up of new LNG export capacity should allow Europe to replenish gas storage adequately, even without Russian pipeline gas. However, Patterson and Manthey highlight a more bullish outlook for US natural gas prices due to increased LNG export capacity. Grains are likely to get caught up in any trade friction, particularly if we see retaliatory tariffs targeting US agricultural exports as we did in 2018 Looking ahead, the outlook for industrial metals is uncertain. “The outlook for industrial metals looks somewhat cloudy, with trade frictions and potential changes to the Inflation Reduction Act in the US weighing on metals,” said the report. The effectiveness of recent Chinese stimulus measures in boosting metal demand remains to be seen, adding another layer of uncertainty. Agricultural markets face their own set of challenges. “Grains are likely to get caught up in any trade friction, particularly if we see retaliatory tariffs targeting US agricultural exports as we did in 2018,” Patterson and Manthey said. Weather patterns will continue to be a major factor, especially for soft commodities. “Weather remains a key risk and concern for soft commodities, and so we expect volatility in cocoa and coffee to continue into 2025 – at least until we get a better idea on how supply shapes up for next season.” Overall, ING maintains a cautious outlook for the commodities complex in 2025: “We hold a somewhat bearish view on large parts of the commodities complex for 2025 on the back of relatively comfortable fundamentals, while expectations of a stronger USD should also provide some headwinds,” the report concluded. “In addition, external risks facing markets appear to be skewed to the downside.” Source: Baltic ExchangeNon-Cystic Fibrosis Bronchiectasis Pipeline Insights 2024: Therapies, Clinical Trials, and Key Companies Involved by DelveInsight | Insmed Inc, AstraZeneca, Zambon, CSL Behring, Chiesi Farmaceutici
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New Jersey fines firms $40K for sports betting violationsUniversal confirmed the project today (Monday, December 23) [formerly Twitter] account. The film will be shot ‘across the world using brand new IMAX film technology’, according to the studio. — Universal Pictures (@UniversalPics) Set in the 8th century BC, tells the story of Odysseus, King of Ithaca, and his dangerous journey home after the Trojan War. The film will have a stacked cast of A-list stars, with Matt Damon, Tom Holland, Anne Hathaway, Zendaya, Robert Pattinson, Lupita Nyong’o, and Charlize Theron already attached. Described by Universal as ‘Homer’s foundational saga’, the 12,109-line poem takes in themes such as free will, heroism, loyalty, intelligence, and the struggle against divinity. ’s release date on the third weekend of July mirrors that of previous Nolan-directed tentpoles, including (July 21, 2023), , (July 21, 2017) and (July 20, 2012). Previous screen adaptations of Homer’s poem include Mario Camerini’s 1954 adventure starring Kirk Douglas; Andrei Konchalovsky’s 1997 TV miniseries; and loose adaptations including the Coen brothers’ 2000 comedy-drama . Nolan comes to the film on the back of a major global hit with , which made $974m worldwide, including $330m in North America and $644m internationally. The film swept the board in the 2024 awards season, winning seven awards at both the Oscars and Baftas, including best picture, director for Nolan and actor for Cillian Murphy at both ceremonies.
NoneMAYBE NEXT YEAR Deloitte says the Southeast Asian initial public offerings market in general was tepid in 2024, with total capital raised reaching its lowest in nine years. —INQUIRER FILE PHOTO Once, in the early months of 2024, the Philippine Stock Exchange (PSE) made a bold move, targeting six initial public offerings (IPOs) for a total equity deal of P40 billion. And for a while there, the bourse seemed to be performing as analysts expected. In September, the benchmark Philippine Stock Exchange Index (PSEi) even managed to charge into the bull territory and closed as high as 7,500 after the Bangko Sentral ng Pilipinas (BSP) started its long-awaited easing cycle. But now, the local stock barometer seems to have gone back to levels seen when the market was at its weakest in 2024. READ: 10 potential IPOs firing up stock market in 2025 From enjoying the view at its peak of 7,500, the PSEi is now settling near the bottom of its uphill climb after falling by around 12 percent in just two months. This downfall has made it less attractive for companies, particularly the big names, to pursue an IPO before the year ends. Global advisory firm Deloitte found in a report that the case was not confined to the Philippines alone. In fact, Deloitte says the Southeast Asian IPO market in general remained tepid in 2024, with the total capital raised reaching its lowest in nine years. The region saw 122 IPOs in the first 10 months of the year worth $3 billion. This is down from 163 IPOs in 2023 worth $5.8 billion. The Philippines did not fare well versus its neighbors: the country only saw three IPOs, while Malaysia accounted for 46 IPOs in the region. Indonesia had 39, and Thailand saw 29 companies go public. Manila’s three IPOs—OceanaGold Philippines Inc. in May, Citicore Renewable Energy Corp. in June, and NexGen Energy Corp. in July—totaled P11.86 billion in proceeds. The giants, such as the SM Group’s real estate investment trust and Ayala-backed e-wallet GCash, opted out of a 2024 IPO. PSE president Ramon Monzon himself admitted that the year was challenging for the bourse, citing high interest rates early in 2024 and the stock market’s resulting volatility as among the deterrents for IPO candidates. But why is it hard to make the market attractive for Philippine corporations? Wendy Estacio-Cruz, research head at Unicapital Securities Inc., notes that “several headwinds” emerged, including the political leadership shift in the United States. “This could affect the inflation trend due to potential tariffs. As a result, the US [Federal Reserve] and the BSP are now anticipating a slower pace of interest rate cuts, which dragged the index,” Cruz says in a message. As it is, the BSP cut rates for overnight borrowing thrice in 2024 for a total of 75 basis points to 5.75 percent. While there is room for three quarter-point rate cuts in 2025, experts say investors are still wary of US President-elect Donald Trump’s protectionist policies. “This year’s market narrative was shaped largely by a tug-of-war between persistent macro uncertainties and selective growth stories,” says Jayniel Carl Manuel, equities trader at Seedbox Securities Inc. Indeed, not all companies benefited from interest rate cuts. In its latest Philippine Market Strategy Report, COL Financial Group Inc. points out that listed companies grew slower in the first nine months of 2024 versus the previous year. During the period, these firms grew by 5 percent against 10.5 percent in the first quarter and 9.6 percent in the first semester. While property firms are usually among those that cheer lower borrowing costs, President Ferdinand Marcos Jr.’s ban on Philippine offshore gaming operators offset growth, according to Manuel. “With a shift in policy leading to their reduced footprint, that once-solid source of demand has faded, leaving developers to contend with high vacancy rates and cooling investor interest,” he adds. The COL report likewise notes that consumer firms “delivered the worst performance” among all the sectors due to high inflation. Banks had the opposite fate. As of the January to September period, nearly all banks listed on the PSE saw record-high earnings, with powerhouses BDO Unibank Inc., Bank of the Philippine Islands and Metropolitan Bank and Trust Co. all expecting to shatter their full-year record. But despite the sour turn of events in 2024, the PSE and experts alike are seeing a better 2025 ahead. Monzon says the anticipated easing inflation, interest rate cuts and the PSE’s upcoming products may be enough to entice investors back into equities. The President expects Philippine equities to grow next year despite high anxiety over the US elections. According to Monzon, they are targeting a 52-percent surge in capital raised from the market to P120 billion. Meanwhile, Cruz cautions that the PSEi may continue correcting “for some time.” “We recommend investors to keep some cash or assets in reserve, ready to take advantage of opportunities when market conditions improve,” she says. Still, Unicapital is keeping its 8,000 index target, driven by a projected 10-percent growth in corporate earnings. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Manuel adds: “As we step into 2025, a more optimistic tone may emerge. If inflation remains contained, reforms progress smoothly, and consumer sentiment picks up, then the property market’s excess inventories could gradually clear, reducing a key drag on investor sentiment.”WASHINGTON – Former Rep. Matt Gaetz said Friday that he will not be returning to Congress after withdrawing his name from consideration to be attorney general under President-elect Donald Trump amid growing allegations of sexual misconduct. “I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” Gaetz told conservative commentator Charlie Kirk, adding that he has “some other goals in life that I’m eager to pursue with my wife and my family.” Recommended Videos The announcement comes a day after Gaetz, a Florida Republican, stepped aside from the Cabinet nomination process amid growing fallout from federal and House Ethics investigations that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer. The 42-year-old has vehemently denied the allegations against him. Gaetz's nomination as attorney general had stunned many career lawyers inside the Justice Department, but reflected Trump's desire to place a loyalist in a department he has marked for retribution following the criminal cases against him. Hours after Gaetz withdrew, Trump nominated Pam Bondi, the former Florida attorney general, who would come to the job with years of legal work under her belt and that other trait Trump prizes above all: loyalty. It's unclear what's next for Gaetz, who is no longer a member of the House. He surprised colleagues by resigning from Congress the same day that Trump nominated him for attorney general. Some speculated he could still be sworn into office for another two-year term on Jan. 3, given that he had just won reelection earlier this month. But Gaetz, who has been in state and national politics for 14 years, said he's done with Congress. “I think that eight years is probably enough time in the United States Congress," he said.Greg Gumbel dies at 78: Sports world reacts to death of CBS Sports broadcaster, voice of Selection Sunday | Sporting News