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NEW YORK, March 21, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Pre-Market update + Stocks try for weekly gains Kristen Scholer delivers the pre-market update on March 21st American Water (NYSE:AWK) will open the U.S. Markets to celebrate World Water Day. The S&P 500 is trying to end a four-week losing streak as trade begins early Friday. On Wednesday, the Federal Reserve said economic uncertainty has risen something that NYSE-listed companies like Nike and FedEx have also noted. Watch NYSE TV Live every weekday 9:00-10:00am ET Video - https://mma.prnasia.com/media2/2647196/NYSE_March_21_2025_Market_Update.mp4
SHENZHEN, China, March 21, 2025 /PRNewswire/ -- X Financial, a China-based pioneer in the fintech sector, today released its unaudited financial results for the fourth quarter and the full year ending December 31, 2024. According to the released financials, the company's outstanding loan balance reached 52.327 billion yuan as of year-end. Total net revenue for the year was reported at 5.8718 billion yuan, with a net profit of 1.5399 billion yuan for fiscal 2024. Mr Kent Li, President of X Financial, said, "We are very pleased to conclude the year with outstanding operational and financial results for the fourth quarter. Our relentless efforts to enhance asset quality, coupled with a favorable macroeconomic environment, drove significant revenue and profit growth. As we move into 2025, we remain optimistic about our business prospects and plans to capitalize on the growth opportunities in this favorable market environment to accelerate growth and enhance shareholder returns. Looking ahead, we will continue to leverage artificial intelligence to further strengthen our technological capabilities, optimize operational efficiencies, and enhance service quality." Advancing Five Key Financial Strategies to Enhance Service to the Real Economy In 2024, the Central Financial Work Conference highlighted the crucial role of finance as the lifeblood of the Chinese economy and advocated for the effective implementation of five key financial initiatives. Following the introduction of policies designed to stabilize the economy and stimulate consumer spending, market dynamics have improved significantly. X Financial remains committed to its core mission of driving financial innovation and maintaining a customer-first approach. The company continues to deliver superior financial services to the real economy while effectively implementing the strategic initiatives through its 'Small Win Practice', achieving commendable market performance. In 2024, X Financial introduced the Small Business Assistance Program to further support self-employed individuals, small and micro-enterprise owners, and rural entrepreneurs. Data shows that from January 2020 to the end of December 2024, X Financial has delivered over 8 million services to small and micro-entrepreneurs and self-employed individuals across 31 provinces, autonomous regions, and municipalities nationwide. The financial report reveals that in the fourth quarter of 2024, X Financial facilitated and issued loans amounting to 32.297 billion yuan. For the full year, the total loan volume reached 104.889 billion yuan. Mr Frank Fuya Zheng, Chief Financial Officer of X Financial, commented, "We are delighted to report strong financial performance for the fourth quarter, and our balance sheet remains solid. In 2024, we allocated approx. US$76 million for share repurchases and dividends, highlighting our commitment to creating value for our shareholders and maintaining financial flexibility to support future growth. In 2025, we will continue to enhance shareholder value through share repurchases and dividends, while executing our effective strategy to drive long-term growth and value creation." Technological Advancements Shape a Better Future for Small and Micro Enterprises In 2024, advancements in AI are poised to revolutionize the industry, transitioning the financial sector from being 'data-driven' to 'intelligence-driven.' X Financial is committed to continually advancing its technology while staying true to its original mission of 'technology for good.' The company's proprietary WinSAFE smart system directly addresses market needs and utilizes AI technology to foster growth within the real economy. The WinSAFE system is the backbone of X Financial, connecting various business segments to enhance operational efficiency. In marketing, it boosts customer acquisition efficiency. For risk management, it supports the growth of small and micro enterprises by adapting to diverse scenarios. In customer service, it links to an intelligent platform that significantly enhances service delivery, protects consumer rights, and delivers a positive user experience. With its advanced digital capabilities for precision operations, the WinSAFE system serves as a vital bridge connecting the real economy with financial institutions, providing efficient and convenient technological solutions to both financial entities and consumers. X Financial has effectively harnessed AI technology to create a robust 360-degree security barrier, ensuring the protection of information and data integrity. This effort led to the development of the WinPROT protection system, which includes five critical functions: fraud prevention, enhanced data security, efficient customer service, empowerment through innovative technology, and consumer protection education. Our comprehensive strategy provides complete safeguarding of application systems and data at all stages. The WinPROT system offers full-process, multi-point alerts and employs intelligent mechanisms to intercept potential fraudulent activities, ensuring our services remain secure and reliable for all users and partners. X Financial is committed to further leveraging AI to advance its capabilities systematically across three key areas: business processes, user services, and risk management. The initiative is part of a strategy to drive the evolution of 'AI + Fintech,' delivering solutions that are smarter, more efficient and more convenient. By employing AI models such as DeepSeek, Tongyi Qianwen and Doubao, the company is optimizing operational efficiency by strengthening its technical capabilities in intelligent customer service, precision marketing, and fraud detection. Expanding Global Impact: X Financial's Commitment to Philanthropy From the outset, X Financial has embraced social responsibility as a cornerstone of the growth strategy. In 2018, the company established the X Public Welfare Foundation, driven by the corporate philosophy of 'Small Wins, Great Goodness.' The foundation focuses on enhancing elementary education in rural areas, notably in Xunwu County, Ganzhou City, Jiangxi Province. It has significantly improved educational resources and methodologies in these communities. The recent inauguration of the library at Chengjiang Central Primary School marks a milestone in empowering rural students to realize their potential. Simultaneously, the X Foundation has expanded its reach across borders, transforming the power of "Small Wins, Great Goodness" into a significant force. In line with the 'Belt and Road' initiative, the foundation has brought its extensive experience and resources in public welfare education to the African continent. In August 2024, the X Foundation participated in the nongovernmental philanthropy exchange forum between China and Africa. As part of this collaboration, the foundation funded extensive renovations at three schools in Masare, Kenya. The project focused on the construction of enhanced educational facilities, including classrooms and libraries, using durable reinforced concrete frame structures. The improvements enhanced the safety and aesthetic appeal of the schools, significantly improving the learning environment for children and ensuring their right to equal education. In 2024, as X Financial celebrated its tenth anniversary, the company stayed true to its original mission, guided by macroeconomic policies. The year was highlighted by solid and steady performance, with a strong focus on compliance, technological advancement, and the small and micro-business sectors. Looking ahead to 2025, X Financial is optimistic that favorable macroeconomic policies will continue to support the growth of private companies and the broader real economy. With this new phase, the company is dedicated to advancing the integration of 'AI + Fintech,' fully leveraging its growth potential. X Financial is also committed to the effective implementation of the five key financial initiatives and expanding ongoing collaborations to further enhance the real economy.
NEW YORK, March 20, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Pre-Market update + Federal Reserve updates its forecast Kristen Scholer delivers the pre-market update on March 20th Stocks moved between gains and losses in the wake of the Federal Reserve's interest rate decision and updated economic forecast yesterday. The Fed kept rates unchanged and lowered its GDP growth forecast for the year to 1.7 percent and upped its inflation projection to 2.8 percent. Fed Chair Jerome Powell noted that the central bank isn't in a hurry to cut rates further while adding that an inflationary impact from tariffs is perceived as transitory for now. Watch NYSE TV Live every weekday 9:00-10:00am ET Video - https://mma.prnasia.com/media2/2646307/NYSE_March_20_Market_Update.mp4
PASAY CITY, Philippines, March 20, 2025 /PRNewswire/ -- SM Investments Corporation (SM Investments), the parent company of the SM group, is optimistic about the Philippines' growth momentum, reaffirming its commitment to the economy's future, according to Erwin G. Pato, Executive Vice President for Treasury, Finance, and Planning. In recent interviews on CNBC and Bloomberg, Mr. Pato highlighted SM Investments' confidence in the country's growth trajectory. He emphasized that the group's synergized investments in retail, property, and financial services will continue to contribute to the consumption-driven growth of the Philippines. The group also recently announced a PHP60-billion share buyback program, which is touted as the largest in Philippine corporate history. This initiative reflects SM's positive outlook on the country's economic future. SM's decision to repurchase shares worth USD1 billion signals the company's belief in its value appreciation and the continued growth of the Philippine economy. "We're having this buyback because we believe in our company and its growth potential," said Mr. Pato. "We believe that growth in the Philippines will continue to be consumption-driven," he added. "Seventy percent of our gross domestic product (GDP) is consumption-driven, and our business is right within that footprint. Our offerings in retail, integrated property development, and financial services will continue to be key players in this consumption-driven growth." SM Investments' consolidated net income showed a 7% increase in 2024, rising to PHP82.6 billion from PHP77.0 billion in 2023. Meanwhile, SM Retail Inc., the group's retail arm, posted a net income of PHP20.9 billion, up from PHP19.9 billion in the previous year. "We're a proxy of the Philippine economy because of our scale and the communities we serve," Mr. Pato explained. "With lowering interest rates, we believe this will help our macroeconomics and could lead our economic managers to achieve our inflation rate within the 2% to 4% range. If that happens, it suggests a strong tailwind for the consumer story." As one of the country's leading property developers, SM Prime Holdings, Inc., the group's property arm, is earmarking PHP100 billion this year for the development of its malls, residences, offices, hotels and convention centers. This investment is driven by expectations of sustained growth in consumer demand and corporate activity. About SM Investments Corporation SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy. SM's retail operations are the country's largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the fourth largest private domestic bank. For more information, please visit www.sminvestments.com
DONGYING, China, March 20, 2025 /PRNewswire/ -- A news report from chinadaily.com.cn: Yellow River Estuary Bay in Dongying, East China's Shandong province, stands as a shining example of balancing ecological preservation with economic growth. Notably, the bay has been recognized among China's third batch of "Beautiful Bays" by the Ministry of Ecology and Environment. In recent years, Dongying has made ecological restoration a top priority, working to strengthen its green foundation and protect biodiversity. The city has launched a series of targeted projects to restore its natural ecosystems, manage invasive species, and improve water supply to wetlands. At the heart of these efforts is the Yellow River Delta National Nature Reserve – one of China's largest and most important wetlands. Vast stretches of flourishing marshland provide critical habitats for countless species. Thanks to integrated land and sea governance, these restoration efforts have paid off. The bay has become a vital stopover for millions of migratory birds. The number of bird species has risen to 374, while rare species such as the Yellow River knife fish and finless porpoise have returned. Water quality has significantly improved, further boosting the area's ecological health. This thriving environment has unlocked vast economic potential. Today, the bay has attracted nature photographers, bird watchers, and eco-tourists from across China. Visitor satisfaction has exceeded 98.5 percent, with annual tourism surpassing one million. Seizing this opportunity, Dongying has been working to promote cultural and tourism integration through year-round events to improve visitor experience. In 2024, the city's tourism revenue reached record highs, which drove growth in hospitality, transportation, and related industries. Dongying's ecological achievements have also accelerated industrial transformation. The city is developing sustainable aquaculture, introducing advanced recycling systems that reduce pollution and improve product quality. Signature products like Yellow River estuary hairy crabs and sea cucumbers are now sold nationwide. The marine new energy sector is also booming. Dongying has established an offshore wind power equipment industrial park, attracting leading enterprises and forming a complete industry value chain. Notably, the world's largest floating wind turbine was recently completed here, marking a major milestone for the industry. From saline wastelands to an ecological oasis, Dongying's transformation reflects its commitment to protecting the Yellow River's ecological heritage while embracing green, high-quality development along its beautiful bay.
Global business leaders, policymakers and industry experts to gather for timely discussions on trade, investment and partnership opportunities in one of the world's most dynamic economic regions NEW YORK, March 17, 2025 /PRNewswire/ -- World Trade Centers Association® (WTCA®) — an international trade organization connecting more than 300 World Trade Center® (WTC®) locations in nearly 100 countries and territories — and World Trade Center (WTC) Marseille Provence will host the 55th annual WTCA Global Business Forum (GBF) in Marseille, France from April 6-9. The association's annual Forum assembles both WTCA members and their global networks, including leaders from business, government, academia, and international organizations. More than 300 attendees from more than 50 countries and territories have confirmed their participation. Currently, represented countries and territories include: Albania, Algeria, Armenia, Australia, Belgium, Brazil, Bulgaria, Canada, China Mainland, Colombia, Côte d'Ivoire, Cyprus, Denmark, Egypt, Ethiopia, France, Germany, Ghana, Gibraltar, Guyana, India, Iraq, Ireland, Italy, Japan, Jordan, Lebanon, Libya, Madagascar, Malaysia, Mexico, Morocco, the Netherlands, Niger, Nigeria, Norway, Palestine, Panama, the Philippines, Portugal, Romania, Saudi Arabia, South Africa, Spain, Sweden, Syria, Taiwan, Togo, Tunisia, Türkiye, the United Arab Emirates, the United Kingdom, the United States, Uruguay, Vietnam and Yemen. The four-day event offers a range of programming, including "Strategies for Success in an Evolving Marketplace," "Free Trade Zones as Engines of Growth," and "Navigating Trade, Real Estate and Investment Trends in 2025." New this year, WTCA is featuring a Real Estate Summit for attendees with specialized sessions on "World Trade Center Projects in Focus," "Expanding the Real Estate Horizon: Innovation and Resilience in a Changing World," "and "FDI Trends Reshaping Real Estate & Infrastructure." With the theme "Gateway to the Mediterranean," this year's Forum features an opening address from John E. Drew, Chair, WTCA Board of Directors; and Benoit Vincent, CEO of WTC Marseille Provence. Other notable speakers include: Angela Ellard, Deputy Director General of the World Trade Organization; Ken Levinson, CEO of the Washington International Trade Association (WITA); Penny Naas, Lead GMF Allied Strategic Competitiveness of the German Marshall Fund of the United States; Lionel Johnson, President of the Pacific Pension and Investment Institute; Lia Rochat, Founder of Archismart Energy; Philippe Veran, Co-Founder and President of Biotech Dental; Jacopo Dettoni, Editor of fDi Intelligence/Financial Times; Edward Grunwald, Partner and Sales Director of Revolugo; Daniel Tchenio, Director at CBRE Marseille; Amal Louis, Director of Business Development and Intermodal Solutions of the Grand Port Maritime de Marseille – Port de Marseille Fos; and Samir Hamrouni, CEO of the World Free Zones Organization. "WTCA remains committed to promoting free and fair trade, open markets, and healthy competition — principles that drive investment, prosperity and economic growth," said John E. Drew, Chair, WTCA Board of Directors. "Now more than ever, as businesses navigate shifting global trade policies and economic uncertainty, the annual WTCA Global Business Forum (GBF) provides a vital platform for members and their networks to connect, explore new markets, and gain critical insights. With an active and engaged B2B program supported by a robust matchmaking platform, this year's GBF reinforces our commitment to fostering partnerships and expanding global opportunities." Demonstrating the strength of the global WTCA network, the Forum facilitates direct business-to-business (B2B) relationships and investment opportunities across industry sectors including agriculture, architecture, banking and financial services, construction and building materials, consumer goods, food and beverage, freight and logistics, health technology, industrial solutions, manufacturing, maritime and energy services, and tourism. This year's Forum features structured B2B matchmaking sessions, connecting attendees directly with companies and individuals who align with their specific business needs. In partnership with the International Chamber of Commerce and Industry (CCI Internationale) Provence Alpes Côte d'Azur, the GBF B2B matchmaking platform becomes immediately available to attendees upon registration for the event. Marseille was chosen for this year's event given its role as a critical European hub for trade, innovation, and economic activity. The Mediterranean region connects three continents and plays a vital role in global commerce, boasting strong industries in maritime trade, logistics, energy, tourism, and technology. Hosting the GBF in Marseille provides WTCA members and attending delegates with unparalleled access to this dynamic market, offering opportunities to explore investment prospects and engage with leaders shaping regional and global trade. "Our region has long been a crossroads of global trade, driving economic growth and fostering international collaboration. Between its strategic location, diverse industries and thriving innovation ecosystem, Marseille is the ideal setting for this year's Forum," said Benoit Vincent, CEO, WTC Marseille Provence. "This event will create new opportunities for investment, trade, and partnership in one of the world's most dynamic economic regions." Last year's WTCA Global Business Forum was held in Bengaluru, India, bringing together nearly 300 attendees from 36 countries and territories, including 105 WTC businesses. The event marked the debut of the "Global Business Forum" under its new name, formerly known as the WTCA General Assembly, and featured over 300 scheduled B2B meetings and the signing of 12 Memorandums of Understanding (MOUs) between WTCA members in various regions and with some local Indian business partners, strengthening global partnerships and expanding business opportunities worldwide. For more information about the 2025 WTCA Global Business Forum, please visit wtca.swoogo.com/2025gbf. Also, follow along on social media via #WTCAEvents and #WTCAinMarseille. MEDIA CONTACTS: World Trade Centers Association (WTCA)Chanelle DimalantaPhone: +1 212 432 2644Email: cdimalanta@wtca.org Violet PRKate TrainaPhone: +1 908 967 2117Email: kate@violetpr.com About World Trade Centers Association (WTCA)World Trade Centers Association (WTCA) is a network of more than 300 highly connected, mutually supporting businesses and organizations in nearly 100 countries and territories. As the owner of the "World Trade Center" and "WTC" trademarks, WTCA licenses exclusive rights to these brands for members to use in conjunction with their independently owned, iconic properties, facilities and trade services offerings. Through a robust portfolio of events, programming and resources that it offers its members, the goal of WTCA is to help local economies thrive by encouraging and facilitating trade and investment across the globe, creating an ecosystem built around commerce, community and connection. To learn more, visit www.wtca.org. About World Trade Center (WTC) Marseille ProvenceEstablished in 1984, World Trade Center (WTC) Marseille Provence stands out as a genuine emblem of the regional economy, to make it a decisive driver of the region's international dynamics and attractiveness. WTC Marseille Provence has evolved its offer to meet the entrepreneurs' expectations. Located in the heart of the city of Marseille and in the perimeter of Euroméditerranée, WTC Marseille Provence proposes exceptional places: business, convention centers and a corporate club, connected to the global World Trade Centers Association (WTCA) network. WTC Marseille Provence is a certified ISO 20121. To learn more, visit www.wtcmp.com/en.
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