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The Cyber Crime Police of Greater Chennai City Police booked a case on a complaint from Gana Singer Isaivani who was trolled on social media for her song titled ‘I am sorry Ayyappa’ It was sung by Ms. Isaivani, of Neelam Culture Centre in 2018. Although the song was reportedly performed in 2018, it gained widespread attention recently, sparking outrage among the Lord Ayyappa devotees and Hindu outfits. The singer faced strong criticism and trolls. Based on her complaint, police booked the case under four sections of Bharatiya Nyaya Sanhita and Information Technology Act. Published - December 15, 2024 01:20 am IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp RedditLA JOLLA, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), today announces the study update and interim analysis results from the Company’s COMBAT-ALS Phase 2b/3 clinical trial of MN-166 (ibudilast) in Amyotrophic Lateral Sclerosis (ALS) will be presented at the 35th International Symposium on ALS/MND held December 6-8, 2024 in Montreal, Canada. The highlights of the presentation, titled, “ COMBAT-ALS Phase 2b/3 Trial of MN-166 (Ibudilast) in ALS: Trial Update and Interim Analysis Results” ( Abstract # 302), include: MediciNova CMO and Director Kazuko Matsuda commented, "The interim analysis showed a positive correlation between the 6-month and 12-month data. We considered a change in the treatment period, decided to continue the trial with the current treatment plan based on the DSMB's recommendation. We believe these results will be valuable in designing studies for rapidly progressing diseases like ALS. As of mid-November 2024, over 200 patients have been enrolled and more than 180 patients assigned, if we continue to actively enroll in the COMBAT-ALS study, we expect to complete patient assignments by June 2025 with trial results expected in 2026. Concurrently, we have been supporting continued treatment for those patients wishing to continue MN-166 treatment after the 6-month open-label phase via the FDA's Expanded Access Program (EAP). Next year, the NIH-funded, large-scale Expanded Access Program trial is set to begin, and we look forward to the opportunity to provide access to MN-166 to more ALS patients.” About MN-166 (ibudilast) MN-166 (ibudilast) is a small molecule compound that inhibits phosphodiesterase type-4 (PDE4) and inflammatory cytokines, including macrophage migration inhibitory factor (MIF). It is in late-stage clinical development for the treatment of neurodegenerative diseases such as ALS (amyotrophic lateral sclerosis), progressive MS (multiple sclerosis), and DCM (degenerative cervical myelopathy); and is also in development for glioblastoma, Long COVID, CIPN (chemotherapy-induced peripheral neuropathy), and substance use disorder. In addition, MN-166 (ibudilast) was evaluated in patients that are at risk for developing acute respiratory distress syndrome (ARDS). About MediciNova MediciNova, Inc. is a clinical-stage biopharmaceutical company developing a broad late-stage pipeline of novel small molecule therapies for inflammatory, fibrotic, and neurodegenerative diseases. Based on two compounds, MN-166 (ibudilast) and MN-001 (tipelukast), with multiple mechanisms of action and strong safety profiles, MediciNova has 11 programs in clinical development. MediciNova’s lead asset, MN-166 (ibudilast), is currently in Phase 3 for amyotrophic lateral sclerosis (ALS) and degenerative cervical myelopathy (DCM) and is Phase 3-ready for progressive multiple sclerosis (MS). MN-166 (ibudilast) is also being evaluated in Phase 2 trials in Long COVID and substance dependence. MN-001 (tipelukast) was evaluated in a Phase 2 trial in idiopathic pulmonary fibrosis (IPF) and a second Phase 2 trial in non-alcoholic fatty liver disease (NAFLD) is ongoing. MediciNova has a strong track record of securing investigator-sponsored clinical trials funded through government grants. Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the future development and efficacy of MN-166, MN-001, MN-221, and MN-029. These forward-looking statements may be preceded by, followed by, or otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," "projects," "can," "could," "may," "will," "would," “considering,” “planning” or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to, risks of obtaining future partner or grant funding for development of MN-166, MN-001, MN-221, and MN-029 and risks of raising sufficient capital when needed to fund MediciNova's operations and contribution to clinical development, risks and uncertainties inherent in clinical trials, including the potential cost, expected timing and risks associated with clinical trials designed to meet FDA guidance and the viability of further development considering these factors, product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials, and the timing of expected filings with the regulatory authorities, MediciNova's collaborations with third parties, the availability of funds to complete product development plans and MediciNova's ability to obtain third party funding for programs and raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2023 and its subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements. INVESTOR CONTACT : David H. Crean, Ph.D. Chief Business Officer MediciNova, Inc info@medicinova.com
- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834JERUSALEM (AP) — Israel approved a United States-brokered ceasefire agreement with Lebanon's Hezbollah on Tuesday, setting the stage for an end to nearly 14 months of fighting linked to the ongoing war in the Gaza Strip. Israeli warplanes meanwhile carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict and issued a record number of evacuation warnings. At least 24 people were killed in strikes across the country, according to local authorities, as Israel signaled it aims to keep pummeling Hezbollah before the ceasefire is set to take hold at 4 a.m. local time on Wednesday. Another huge airstrike shook Beirut shortly after the ceasefire was announced. Israel's security Cabinet approved the ceasefire agreement late Tuesday after it was presented by Prime Minister Benjamin Netanyahu, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. An Israel-Hezbollah ceasefire would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza, where Hamas is still holding dozens of hostages and the conflict is more intractable. U.S. President-elect Donald Trump has vowed to bring peace to the Middle East without saying how. The Biden administration spent much of this year trying to broker a ceasefire and hostage release in Gaza but the talks repeatedly sputtered to a halt . Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed a series of accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran, which backs both groups. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” The ceasefire deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor all sides’ compliance. But implementation remains a major question mark. Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal "was designed to be a permanent cessation of hostilities.” Netanyahu’s office said Israel appreciated the U.S. efforts in securing the deal but “reserves the right to act against every threat to its security.” Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday that it had not seen the agreement in its final form. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state.” of Lebanon, he said. “Any violation of sovereignty is refused.” Even as Israeli, U.S, Lebanese and international officials have expressed growing optimism over a ceasefire, Israel has continued its campaign in Lebanon, which it says aims to cripple Hezbollah’s military capabilities. An Israeli strike on Tuesday leveled a residential building in the central Beirut district of Basta — the second time in recent days warplanes have hit the crowded area near the city’s downtown. At least seven people were killed and 37 wounded, according to Lebanon's Health Ministry. Strikes on Beirut's southern suburbs killed at least one person and wounded 13, it said. Three people were killed in a separate strike in Beirut and three in a strike on a Palestinian refugee camp in southern Lebanon. Lebanese state media said another 10 people were killed in the eastern Baalbek province. Israel says it targets Hezbollah fighters and their infrastructure. Israel also struck a building in Beirut's bustling commercial district of Hamra for the first time, hitting a site that is around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets in Beirut and other areas linked to Hezbollah's financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously have not been targeted. The warnings, coupled with fear that Israel was ratcheting up attacks before a ceasefire, sent residents fleeing. Traffic was gridlocked, and some cars had mattresses tied to them. Dozens of people, some wearing their pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed loudly overhead. Hezbollah, meanwhile, kept up its rocket fire, triggering air raid sirens across northern Israel. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut's southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti told The Associated Press that peacekeepers will not evacuate. The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few kilometers (miles) from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 30 kilometers (20 miles) north of the border. Hezbollah began firing into northern Israel, saying it was showing support for the Palestinians, a day after Hamas carried out its Oct. 7, 2023, attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have been exchanging barrages ever since. Israel escalated its campaign of bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut, and Aamer Madhani in Washington, contributed. Find more of AP’s war coverage at https://apnews.com/hub/israel-hamas-war
NEW YORK (AP) — An early rebound for U.S. stocks petered out by the end of the day, leaving indexes close to flat. The S&P 500 edged down by 0.1% Thursday, coming off one of its worst days of the year after the Federal Reserve said it may deliver fewer cuts to interest rates in 2025 than earlier thought. The Dow Jones Industrial Average inched up by less than 0.1%, and the Nasdaq composite slipped 0.1%. Treasury yields were mixed in the bond market following reports showing the U.S. economy may be stronger than expected, but manufacturing may be contracting again. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are stabilizing Thursday following one of their worst days of the year . The S&P 500 rose 0.2% in late trading, a day after tumbling 2.9% when the Federal Reserve said it may deliver fewer cuts to interest rates next year than earlier thought. The Dow Jones Industrial Average was up 136 points, or 0.3%, with less than an hour remaining in trading, following Wednesday’s drop of more than 1,100 points. The Nasdaq composite rose 0.3%. Wednesday’s drop took some of the enthusiasm out of the market, which critics had already been warning was overly buoyant and would need everything to go correctly for it to justify its high prices. But indexes remain near their records , and the S&P 500 is still on track for one of its best years of the millennium . Traders are now expecting the Federal Reserve to deliver just one or maybe two cuts to interest rates next year, according to data from CME Group. Some are even betting on none. A month ago, the majority saw at least two cuts in 2025 as a safe bet. Wall Street loves lower interest rates because they give the economy a boost and goose prices for investments, but they can also provide fuel for inflation. Darden Restaurants, the company behind Olive Garden and other chains, helped lift the market after leaping 15.1%. It delivered profit for the latest quarter that edged past analysts’ expectations. The operator of LongHorn Steakhouses also gave a forecast for revenue for this fiscal year that topped analysts’. Accenture rose 6.7% after the professional services company likewise topped expectations for profit in the latest quarter. CEO Julie Sweet said it saw growth around the world, and the company raised its forecast for revenue this fiscal year. Amazon shares added 1.8%, even as workers at seven of its facilities went on strike Thursday in the middle of the online retail giant’s busiest time of the year. Amazon says it doesn’t expect an impact on its operations during what the workers’ union calls the largest strike against the company in U.S. history. They helped offset a tumble for Micron Technology, which fell 16.7% despite reporting stronger profit than expected. The computer memory company’s revenue fell short of Wall Street’s forecasts, and CEO Sanjay Mehrotra said it expects demand from consumers to remain weaker in the near term. It gave a forecast for revenue in the current quarter that fell well short of what analysts were thinking. Lamb Weston, which makes French fries and other potato products, dropped 22.6% after falling short of analysts’ expectations for profit and revenue in the latest quarter. It also cut its financial targets for the fiscal year, saying demand for frozen potatoes is continuing to soften, particularly outside North America. The company replaced its chief executive. In the bond market, yields were mixed a day after shooting higher on expectations that the Fed would deliver fewer cuts to rates in 2025. Reports on the U.S. economy came in mixed. One showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The economy has remained remarkably resilient even though the Fed held its main interest rate at a two-decade high for a while before beginning to cut them in September. A separate report showed fewer U.S. workers applied for unemployment benefits last week, an indication that the job market also remains solid. But a third report said manufacturing in the mid-Atlantic region is unexpectedly contracting again despite economists’ expectations for growth. The yield on the 10-year Treasury rose to 4.57% from 4.52% late Wednesday and from less than 4.20% earlier this month. But the two-year yield, which more closely tracks expectations for action by the Fed in the near term, eased back to 4.31% from 4.35%. The rise in longer-term yields has put pressure on the housing market by keeping mortgage rates higher. Homebuilder Lennar fell 4.8% after it reported weaker profit and revenue for the latest quarter than analysts expected. CEO Stuart Miller said that “the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose” through the quarter. “Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates,” he said. A report on Thursday may have offered some encouragement for the housing industry. It showed a pickup in sales of previously occupied homes. In stock markets abroad, London’s FTSE 100 fell 1.1% after the Bank of England paused its cuts to rates and kept its main interest rate unchanged on Thursday. The move comes as inflation there moved further above the central bank’s 2% target rate, while the British economy is flatlining at best. The Bank of Japan also kept its benchmark interest rate unchanged, and Tokyo’s Nikkei 225 fell 0.7%. Indexes likewise sank across much of the rest of Asia and Europe. ___ AP Business Writers Matt Ott and Elaine Kurtenbach contributed. Stan Choe, The Associated PressUAE’S HADER SECURITY (HSC) AND TABBARA ELECTRONICS SECURE SUCCESSFUL REMOTE ROBOTIC ...
NEW YORK , Dec. 5, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global hydrogen generation market size is estimated to grow by USD 49.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.52% during the forecast period. Growing demand for fertilizers is driving market growth, with a trend towards reduction in fuel cell prices. However, changes in government policies and regulations poses a challenge. Key market players include Air Liquide SA, Air Products and Chemicals Inc., Claind Srl, Cummins Inc., FuelCell Energy Inc., Green Hydrogen Systems, Hiringa Energy Ltd., Hyster Yale Materials Handling Inc., ITM Power PLC, Iwatani Corp., Linde Plc, Mahler AGS GmbH, McPhy Energy SA, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Nel ASA, Parker Hannifin Corp., Resonac Holdings Corp., Teledyne Technologies Inc., and Xebec Adsorption Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Delivery Mode (Merchant and Captive), Application (Chemical industry, Refinery industry, Metal processing industry, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America) Region Covered APAC, Europe, North America, Middle East and Africa, and South America Key companies profiled Air Liquide SA, Air Products and Chemicals Inc., Claind Srl, Cummins Inc., FuelCell Energy Inc., Green Hydrogen Systems, Hiringa Energy Ltd., Hyster Yale Materials Handling Inc., ITM Power PLC, Iwatani Corp., Linde Plc, Mahler AGS GmbH, McPhy Energy SA, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Nel ASA, Parker Hannifin Corp., Resonac Holdings Corp., Teledyne Technologies Inc., and Xebec Adsorption Inc. Key Market Trends Fueling Growth The Hydrogen Generation Market is experiencing significant growth due to increasing focus on reducing Greenhouse Gas (GHG) emissions, particularly Carbon Dioxide (CO2) from Electricity production and Heavy Industry. Infrared radiation technology is a trending solution for GHG reduction in hydrogen production. Prominent companies like Air Liquide are leading the way with Coal Gasification and Electrolysis. The Biorefinery sector is also adopting hydrogen for Ammonia and Methanol production. Despite inflation, the Industrial sector's energy consumption drives the market. Green Hydrogen Policy initiatives are boosting demand. Technological advancements in renewable sources like wind and solar power are making hydrogen production cost-effective. Key players like Air Liquide, Siemens Energy, and Linde are making contracts and acquisitions to expand their market share. Hydrogen energy storage and heat production are gaining traction. Vendor analysis reveals that renewable energy sources are replacing fossil fuels in hydrogen production. Renewable hydrogen is set to replace hydrodesulphurization, hydroCracking, reforming, and petroleum in refineries. The shift to netzero emissions is driving the adoption of hydrogen in refineries, oil refining, and fuel cell applications. Pilot projects like SoHyCal in Fresno, California , and Hygenco Green hydrogen stations are paving the way for a hydrogen-powered future. Accurate market research, including qualitative and quantitative, is essential for businesses to stay informed about this dynamic market. The market's future depends on continued technological advancements, renewable sources, and government policies. The cost reduction in fuel cell technology, primarily due to decreased platinum loading on anodes, larger bipolar plate formation and welding costs, and modified gas diffusion layers, as reported by Original Equipment Manufacturers (OEMs), has led to a decline in the production costs of fuel cell systems. This cost decrease is anticipated to boost the adoption of fuel cells in various sectors, increasing the demand for hydrogen gas and consequently driving the growth of the global hydrogen generation market. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! • The Hydrogen Generation Market is experiencing significant growth due to increasing demand for clean energy and decarbonization efforts. However, challenges persist, such as high GHG emissions from traditional production methods using fossil fuels like coal gasification and petroleum refining. Infrared radiation and greenhouse gas emissions contribute to air pollution, making renewable sources like electrolysis a more attractive option. Heavy industry and long-distance transport sectors are major consumers, driving demand for hydrogen in power generation and heat production. Prominent companies like Air Liquide are leading the way with green hydrogen production through electrolysis using renewable energy. Electricity production from biorefineries and hydrogen energy storage are technological advancements reducing reliance on fossil fuels. However, inflation and energy consumption concerns may impact market growth. Vendor analysis, contracts, and acquisitions are crucial for accurate market research. Renewable hydrogen production from sources like wind and solar power is becoming more common, reducing the carbon footprint and moving towards net-zero emissions. Pilot projects, such as SoHyCal in Fresno, California , and Hygenco Green's hydrogen stations, showcase the potential of hydrogenpowered vehicles and fuel cells. The industrial sector, including refineries, is adopting hydrogen for processes like hydrodesulphurization, hydroCracking, reforming, and ammonia and methanol production. Despite challenges, the market remains qualitative and quantitative, with renewable energy as a key driver. • The hydrogen and fuel cell industry is currently in a development stage, with no industry-specific regulations in place for hydrogen infrastructure products and fuel cell systems in Canada , the EU, the US, and other jurisdictions, except for electricity production. New technologies are emerging for hydrogen's use in storing renewable electricity. As of now, there are no regulations for fuel cell vehicles. However, with anticipated market growth, the hydrogen generation market may face government regulations in its operating markets. Insights into how AI is reshaping industries and driving growth- Download a Sample Report This hydrogen generation market report extensively covers market segmentation by 1.1 Merchant- The merchant delivery mode in the hydrogen generation market involves supplying hydrogen from production facilities to customer sites through tankers or storage containers. Contract agreements for this service last between three to seven years, making it suitable for customers with fluctuating demand or insufficient volume for captive production. Hydrogen can be transported over long distances at a lower cost due to the merchant delivery mode. The hydrogen is transferred from holding tanks into double-skinned tankers with capacities ranging from 10-20 metric tons. The operating pressure of these insulated tankers varies depending on the type of gas being transported. The growing demand for small quantities of hydrogen and the cost-effective nature of merchant delivery are expected to fuel the market's growth in the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) The Hydrogen Generation Market is witnessing significant growth due to the increasing focus on reducing Greenhouse Gas (GHG) emissions, particularly Carbon Dioxide (CO2), in various sectors. Hydrogen produced from renewable sources, such as wind and solar, is gaining popularity as it emits only water vapor during combustion. The market is driven by the need for cleaner electricity production, heavy industry, long-distance transport, and the shift towards net-zero emissions. Technological advancements in hydrogen production through electrolysis, biorefinery, coal gasification, and petroleum refining processes like hydrodesulphurization, hydroCracking, reforming, and petroleum refining are key factors driving market growth. However, inflation and energy consumption are challenges that need to be addressed. The industrial sector, particularly oil refining, is a prominent consumer of hydrogen, but the market is also expanding to other sectors due to government policies promoting Green Hydrogen. Air pollution from fossil fuels and crude oil quality concerns are also driving demand for hydrogen as a cleaner alternative. The Hydrogen Generation Market is experiencing significant growth due to the increasing demand for clean energy and the need to reduce Greenhouse Gas (GHG) emissions, particularly in sectors such as heavy industry, long-distance transport, and power generation. Hydrogen can be produced through various methods, including electrolysis using renewable energy sources and coal gasification with Carbon Capture, Utilization, and Storage (CCUS) technology. Infrared radiation is used in some hydrogen production processes to improve efficiency. Electricity production from fossil fuels contributes to GHG emissions, making hydrogen an attractive alternative. Biorefineries are also exploring hydrogen production as a byproduct of their processes. The market is influenced by inflation, energy consumption trends, and government policies promoting Green Hydrogen. Technological advancements in hydrogen production through electrolysis, hydro desulphurization, hydroCracking, reforming, and petroleum refining are driving market growth. Renowned publishers provide qualitative and quantitative research on this market, including vendor analysis, contracts, acquisitions, and hydrogen energy storage. Renewable hydrogen is gaining popularity due to its net-zero emissions, and pilot projects like the SoHyCal facility in Fresno, California , and Hygenco Green's hydrogen stations are leading the way. The industrial sector, including ammonia and methanol production, is also adopting hydrogen to reduce its carbon footprint. Despite these advancements, challenges such as crude oil quality and refinery projects' carbon footprint remain. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/hydrogen-generation-market-to-grow-by-usd-49-7-billion-from-2024-2028--driven-by-fertilizer-demand-and-ai-driven-market-transformation---technavio-302322467.html SOURCE TechnavioVodafone Idea plans for 5G migrationRepublic Welcomes James Newman as General Partner - Fund Manager & VP of Operations
Arsenal defender Gabriel kept Viktor Gyokeres quiet — then had the audacity to steal the in-demand Sporting Lisbon striker's trademark goal celebration. After heading in Arsenal's third first-half goal in the Champions League on Tuesday, Gabriel linked the fingers of his hands and placed them over his eyes, before laughing with his teammates. It was most likely a dig at Gyokeres, the Sweden striker who has quickly become one of European soccer's hottest properties . Because that is how Gyokeres celebrates his goals. “It's fun that he likes my celebration,” Gyokeres told Viaplay after the match. “He can steal it if he cannot come up with his own.” Gyokeres has scored 24 goals for Sporting in all competitions and was coming off netting four for Sweden in a Nations League match against Azerbaijan. Earlier in the first half, Gabriel had enjoyed tackling and dispossessing Gyokeres near the Arsenal area — waving both his arms in a gesture to the crowd. Gabriel's goal made it 3-0 to Arsenal at halftime and the English team went on to win 5-1, with Gyokeres failing to score. He did hit the post with a shot late in the game, however — after Gabriel had gone off with an injury. “Today he wasn't that dangerous,” Arsenal striker Kai Havertz said of Gyokeres, “but I think it's because we defended very well.” AP soccer: https://apnews.com/hub/soccerMalvern, Pennsylvania (USA), Dec. 19, 2024 (GLOBE NEWSWIRE) -- Rajant Corporation , the pioneer of Kinetic Mesh® wireless networks, and Hader Security and Communication Systems (HSCS), a Kinetic Mesh Partner (KMP) together with Tabbara Electronics, a Kinetic Mesh Distributor (KMD), have secured a key robotic connectivity project using Rajant ES1 BreadCrumb® nodes for a strategic government-owned client in UAE. The UAE client was battling to provide a rapidly deployable, resilient, and secure wireless network to its quadruped Boston Dynamics’ Spot robot for remote inspection, monitoring, and critical maintenance tasks in sensitive industrial environments while complying with local regulations. Other traditional and non-traditional networks were considered and failed. Rajant had the solution with continuous connectivity anywhere Spot was required to go. According to Mr. Mohamad Tabbara - CEO at HSCS, “One of the key characteristics of the project was to build a special mounting arrangement on the Spot robot to ensure full maneuverability of its robotic arm. Movement must be robust and offer an unobstructed view of the infrared camera. Rajant, together with HSC, worked to customize a tailor-made solution fulfilling the client requirements from the technical & operational aspects.” Ms. Sana Kanaan – VP at Tabbara Electronics adds, “Safe and secure tele-remote operation of Spot is crucial in sensitive and hard-to-reach environments to keep people out of harm’s way and improve productivity and safety. Wireless and simple-to-use Rajant BreadCrumb radio nodes are designed from the ground up for such tasks. Moreover, whether it is the ES1 or any of Rajant’s BreadCrumbs, these nodes can grow with the capacity needs of the UAE client for future applications and deliver cost-saving efficiencies to the client’s operation.” “As AI & robotics are evolving industrial operations, Rajant and its local UAE partners continue to support this transformation by providing true M2M AI-powered Kinetic Mesh networks for achieving better operational & business efficiency”, shares Waqas Ansar, Rajant Director of Sales ME. Rajant will be represented at Intersec 2025 in Tabarra Electronics’ booth SA, A29. Stop by and meet us there, or book an appointment beforehand. ### About Hader Security and Communication Systems (HSCS) Hader Security and Communication Systems (HSCS) is a leading provider of integrated security and communication solutions in the UAE. With a focus on delivering state-of-the-art technologies, HSCS specializes in tailored systems for critical infrastructure, government, and industrial operations. By combining innovation with expertise, HSCS empowers clients to achieve operational excellence and enhance safety across dynamic environments. About Tabbara Electronics Tabbara Electronics is a premier distributor of advanced communication and security solutions, serving the EMEA region. With decades of experience, Tabbara Electronics offers a robust portfolio of products, including mission-critical wireless communication systems, surveillance solutions, and AI-powered analytics. Partnering with global technology leaders, Tabbara Electronics ensures reliable, scalable, and innovative solutions that drive efficiency, safety, and connectivity for their clients. For media, contact Ms. Loubna Tabbara, loubna@tabbara-electronics.com . Rajant Corporation Rajant Corporation is the broadband communications technology company that invented Kinetic Mesh® networking, BreadCrumb® wireless nodes, and InstaMesh® networking software. With Rajant and its family of products, customers can rapidly deploy a highly adaptable and scalable network that leverages the power of real-time data to deliver on-demand, mission-critical business intelligence. A low-latency, high-throughput, and secure solution for a variety of data, voice, video, and autonomous applications, Rajant’s Kinetic Mesh networks provide industrial customers with full mobility, allowing them to take their private network applications and data anywhere. With successful deployments in more than 80 countries for customers in military, mining, ports, rail, energy, manufacturing and logistics, municipalities, agriculture, and more, Rajant is headquartered in Malvern, Pennsylvania, with additional facilities and offices in Arizona and Kentucky. For more information, visit Rajant.com or follow Rajant on LinkedIn and YouTube. Attachment Alice DiSanto Rajant Corporation 914-582-8464 adisanto@rajant.com
Mayor opens clean and safe drinking water facility KARACHI: Karachi Mayor Murtaza Wahab inaugurated Nestlé Pakistan’s first clean and safe drinking water facility in Karachi, that aims to cater to more than 10,000 people every day in the district of Bin Qasim Town. Speaking on the occasion, he said: “Access to clean and safe drinking water is a basic necessity, and I am touched that Nestlé has focused its community efforts for the people of Karachi. It is a remarkable contribution, and I am hopeful that people will truly benefit from this.” During the inauguration, Jason Avanceña, chief executive officer, Nestlé Pakistan, said, “We are committed to creating shared value throughout our value chain for communities and the inauguration of this ninth clean safe drinking water facility is a testament to our commitment to making a positive impact for families, communities and the planet, in line with United Nations Sustainable Development Goals.” Nestlé Pakistan has already developed and is currently managing nine clean and safe drinking water facilities around its manufacturing sites in Sheikhupura, Kabirwala, Khanewal, Islamabad and Karachi. With the inauguration of this facility in Karachi in collaboration with Karachi Metropolitan Corporation and Port Qasim Authority, approximately 90,000 people will have access to clean and safe drinking water daily through these facilities. Pakistan is making considerable progress in improving access to clean drinking water especially in Karachi. This facility will use ultrafiltration water treatment technology with capacity to supply up to 3,000 liters per hour of clean and safe drinking water. It will utilize a multi-stage filtration process, with monitoring systems that guarantee consistent quality and a UV disinfection unit providing an extra layer of protection. The plant is also equipped with energy-efficient pumps and utilizes sustainable practices to minimize its environmental footprint. Nestlé’s efforts under its flagship Caring for Water-Pakistan initiative, are focused on three pillars: factories, communities, and agriculture. All its Clean and Safe Drinking Water Facilities across the country are having a positive effect on communities where it operates, in line with UN SDGs 6, 13 and 17.
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