5ok Ranchi, Dec 26 (PTI) Jharkhand Chief Minister Hemant Soren on Thursday condoled the death of former prime minister Manmohan Singh and said the country lost one of its great sons. "Today the country lost one of its great sons. The news of the demise of former prime minister and world-renowned economist Manmohan Singh ji is extremely sad. A pioneer of developmental politics and governance, he had selflessly devoted his entire life to the service of the country and countrymen. Today he is not among us, but his ideals and thoughts will always inspire us," Soren said in a post on X. "May Marang Buru grant peace to the departed soul and give strength and courage to the bereaved family and the countrymen to bear this difficult moment of grief," the CM added. Jharkhand BJP president Babulal Marandi also expressed grief over the ex-PM's demise. "I am saddened by the news of the demise of former prime minister Dr Manmohan Singh, a great economist and a man of simple, easy-going and gentle personality. His contribution to the country's economic reforms will always be unforgettable," Marandi posted on X. Jharkhand Congress president Keshav Mahto Kamlesh said Singh's death has caused irreparable loss to the country, which cannot be compensated. Singh, 92, was brought to the emergency department this evening in a critical condition after "sudden loss of consciousness", AIIMS Delhi said. Despite all efforts, he could not be revived and was declared dead at 9.51 pm, it stated in a statement. (This story has not been edited by THE WEEK and is auto-generated from PTI)

ATLANTA , Dec. 23, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced it has received notification (the "Acceptance Letter") from the New York Stock Exchange (the "NYSE") that the NYSE has accepted the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual relating to minimum market capitalization and stockholders' equity. In the Acceptance Letter, the NYSE granted the Company an 18-month period from September 12, 2024 (the "Plan Period") to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan. In the Plan, Kore included details regarding previously reported operational restructuring activities, as well as an outlook on the Company's business. The Company expects its common stock will continue to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE continued listing standards. The Company's receipt of such notification from the NYSE does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Cautionary Note on Forward-Looking Statements This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "guidance," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding expected progress with the Company's compliance plan submitted to the NYSE, expected compliance with continued listing standards of the NYSE and expected continued listing of the Company's common stock on the NYSE. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, including the acquisition of Twilio's IoT business, changes in the assumptions underlying KORE's expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of estimates relating to customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. KORE Investor Contact: Vik Vijayvergiya Vice President, IR, Corporate Development and Strategy vvijayvergiya@korewireless.com (770) 280-0324 View original content to download multimedia: https://www.prnewswire.com/news-releases/kore-announces-nyse-acceptance-of-plan-to-regain-listing-compliance-302338621.html SOURCE KORE Group Holdings, Inc.How the stock market defied expectations again this year, by the numbers

Firefighters are tackling a “significant” blaze which broke out at an industrial estate in West Lothian, sending a plume of thick black smoke billowing into the sky. Crews from nine fire engines were called to the scene at Brucefield industrial estate near Livingston. Drivers have been told to avoid the area as the firefighters work to bring the fire under control. Images on social media showed a column of smoke rising from the site which could be seen from as far away as Fife. West Lothian council posted online, saying: “The Scottish fire and rescue service are currently attending a significant fire at Brucefield industrial estate in Bellsquarry near Livingston. Motorists are advised to avoid the area if possible.” The Scottish fire and rescue service (SFRS) said the alarm was raised shortly after 1pm on Saturday. A spokesperson said: “We are currently in attendance at a large building fire in Livingston. “We received the call at 1.07pm and operations control mobilised nine fire appliances and a number of specialist resources to the town’s Brucefield industrial estate. “Firefighters are currently working to extinguish the fire, which has taken hold of a large factory and several adjoining buildings. There are no reported casualties.” Shortly after 10.30pm, an SFRS spokesperson confirmed multiple appliances were still at the scene including two pumping appliances, two height appliances and a water carrier. They added that it was likely fire crews would remain at the scene “for a considerable time”.Chelsea’s surprise defeat at home to Fulham earlier in the day had been an unexpected gift for Arne Slot’s side and they drove home their advantage by outclassing the struggling Foxes. Having overcome the early setback of conceding to Jordan Ayew, with even the travelling fans expressing their surprise they were winning away after taking just five points on the road this season, the home team had too much quality. That was personified by the excellent Cody Gakpo, whose eighth goal in his last 14 appearances produced the equaliser in first-half added time with the Netherlands international unlucky to have a second ruled out for offside by VAR. Further goals from Curtis Jones and Mohamed Salah, with his 19th of the season, stretched Liverpool’s unbeaten run to 22 matches. For Leicester, who had slipped into the bottom three after Wolves’ win over Manchester United, it is now one win from the last 10 in the league and Ruud van Nistelrooy has plenty of work to do, although he was not helped here by the absence of leading scorer Jamie Vardy through injury. It looked liked Liverpool meant business from the off with Salah’s volley from Gakpo’s far-post cross just being kept out by Jakub Stolarczyk, making his league debut after former Liverpool goalkeeper Danny Ward was omitted from the squad having struggled in the defeat to Wolves. But if the hosts thought that had set the tone they were badly mistaken after being opened up with such simplicity in only the sixth minute. Stephy Mavididi broke down the left and his low cross picked out Ayew, who turned Andy Robertson far too easily, with his shot deflecting off Virgil van Dijk to take it just out of Alisson Becker’s reach. With a surprise lead to cling to Leicester knew they had to quell the storm heading their way and they began by trying to take as much time out of the game as they could, much to Anfield’s frustration. It took a further 18 minutes for Liverpool to threaten with Gakpo cutting in from the left to fire over, a precursor for what was to follow just before half-time. That was the prompt for the attacks to rain down on the Foxes goal, with Salah’s shot looping up off Victor Kristiansen and landing on the roof of the net and Robertson heading against a post. Gakpo’s inclination to come in off the left was proving a problem for the visitors, doing their utmost to resist the pressure, but when Salah curled a shot onto the crossbar on the stroke of half-time it appeared they had survived. However, Gakpo once again drifted in off the flank to collect an Alexis Mac Allister pass before curling what is fast becoming his trademark effort over Stolarczyk and inside the far post. Early the second half Darwin Nunez fired over Ryan Gravenberch’s cross before Jones side-footed home Mac Allister’s cross after an intricate passing move inside the penalty area involving Nunez, Salah and the Argentina international. Leicester’s ambition remained limited but Patson Daka should have done better from a two-on-one counter attack with Mavididi but completely missed his kick with the goal looming. 🎯 pic.twitter.com/IqmAsKylLR — Liverpool FC (@LFC) December 26, 2024 Nunez forced a save out of the goalkeeper before Gakpo blasted home what he thought was his second only for VAR to rule Nunez was offside in the build-up. But Liverpool’s third was eventually delivered by the left foot of Salah, who curled the ball outside Kristiansen, inside Jannick Vestergaard and past Stolarczyk inside the far post.

Sixteen months after President Bola Ahmed Tinubu inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms and two months into the transmission of the four tax reform bills to the National Assembly for consideration and approval, the exercise has been encumbered by confusion and apprehension The Bills – four in all – ought to have sailed enjoyed the legislatures’ endorsement but they are embroiled in a back-and-forth push with no headway. Fron the benefit of hindsight, it could be recalled that as a presidential aspirant in 2023, Bola Ahmed Tinubu hinted about his disposition for tax reforms as one of the primary goals of his administration. To lay a strong fiscal and revenue foundation for sustainable growth for the rest of his tenure and beyond, Tinubu believes an overhaul of tax laws was necessary. In validating the intention, Tinubu, on August 8, 2023, as a sitting inaugurated the Taiwo Oyedele’s Presidential Fiscal Policy and Tax Reform Committee, headed by an astute tax expert – Taiwo Oyedele. Oyedele not only hit the ground running, he embarked on consultations, traversing the breadth and lengths of the country, distilling essence for tax reform. His committee had audiences with members of civil society groups and engagement with media and other critical stakeholders – all aimed at galvanising inputs and feedback. The country currently has over 60 varieties of taxes administered disjointedly across three tiers of government. Oyedele said his committee will reduce the number of payable taxes to compact size numbers. Oyedele’s tax reforms committee comprises members of the public and private sectors. At the committee’s inauguration, Tinubu said the country cannot continue to tax poverty or production but should focus on returns, income, and consumption. He directed all government agencies, ministries, and departments to cooperate fully with the committee in achieving their mandate. “Within the scope of this mandate, the committee shall have as its objective the advancement of viable and cost-effective solutions to issues such as the multiplicity of revenue collection agencies, high cost of revenue administration, excessive burden of compliance on ordinary taxpayers, the lack of effective coordination between fiscal and other economic policies within and across levels of government, and poor accountability in the utilization of tax revenues.”. “I have given them a strong mandate, and I expect their report to cover tax reform, fiscal policy design and coordination, and the harmonisation of taxes and revenue administration, among other items. “Our target is to improve Nigeria’s revenue profile while making the business environment more conducive and internationally competitive. Our aim is to transform the tax system to support sustainable development while, at the same time, achieving a minimum of an 18 per cent tax-to-GDP ratio within the next three years. “In order to ensure seamless implementation, the Committee shall be empowered not merely to make recommendations but also to provide practical support to the government in the execution and delivery of the recommended changes. “The committee is expected to achieve its mandate within a period of one year. They are, in the first instance, expected to deliver a schedule of quick reforms that can be implemented within thirty days. Critical reform measures should be recommended within six months, and full implementation will take place within one calendar year,” Tinubu said. Provisions of the Tax Bills There four executive tax bills are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. Each bill addresses specific aspects of tax administration, compliance, and enforcement. Each bill is detailed, with clarity of explanation. It unearths existing tax lapses it seeks to address. For instance, the Nigeria Tax Bill 2024 is expected to provide the fiscal framework for taxation in the country. The Tax Administration Bill is to provide a legal framework for all taxes in the country and reduce disputes; the Nigeria Revenue Service Establishment Bill is to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, while the Joint Revenue Board Establishment Bill is to create a tax tribunal and a tax ombudsman. With regards to the tax administration bill, in relation to the business of mining, Section 20 (sub-section 1) of the new bill stipulates thus: “Every person engaged in the trade or business of mining shall, upon the coming into effect of this Act or upon commencement of operations, file a monthly self-assessment return of minerals royalty with the Service in the prescribed form. (2) Pay the correct royalty due to the government on the minerals sold or used at the prescribed rate in the Ninth Schedule to the Nigeria Tax Act. (3) The returns of royalty for each month shall be filed on or before the 21st day of the following month and shall be accompanied by the following: (a) registered number of quarrying or mining licenses; (b) type of mineral and weight; (c) location and labor used; (d) quarriable minerals in metric tons. These updates are a clear departure from the current situation in which those who engaged in the business of mining are elusive and largely unaccountable. Section (4) states that the service shall review the royalty returns filed and may reassess where necessary the royalty payable, and any additional royalty shall be paid. within 30 days of service of a notice of assessment of such additional royalty, while Section 21.-(1) notes that “a non-resident person engaged in the operation of transport by sea or air into Nigeria shall file monthly returns with evidence of payment of tax as specified under section 18 of the Nigeria Tax Act to the Service in respect of the carriage of passengers, mail, livestock, or goods shipped or loaded into an aircraft in Nigeria”. Other key highlights of the Bills, which have received maximum applause and thumbs down, are as follows: any business with less than N50 million turnover is exempted from tax payment, 90% of workers in the public and private sectors to be exempted from paying income tax; 82% of what low-income persons consume to be VAT-free, scrapping over 50 nuisances tax suffered by local businesses; VAT will no longer be calculated based on where the companies have their headquarters but where their goods are consumed and the rich will pay more tax while the poor will stop paying taxes of all sorts. Other provisions of the bills include the elimination of states collection of consumption tax, the share of the federal government’s VAT quota to reduce from 15 to 10 per cent while states and local government areas get 90 per cent of VAT collected; those earning less than N1.7m monthly will now pay less income tax; customs, NUPRC, and other government agencies will hand off the collection of tax; and restricting tax collection to one agency saddled with the responsibility of the collection of all taxes in Nigeria. Similarly, those earning less than N9 million per annum will have their income tax cut by half. When operational, the bill will lead to the abolition of other multiple tax laws like the stamp duty act, etc, while over 90 per cent of small businesses will no longer pay profit tax. It makes provision for a gradual increase of VAT from 10 per cent in 2025 to 15 per cent in 2030. Almost every good consumed by low-income earners will be exempted from VAT while it seeks reprieve for most Nigerian companies that pay over 60 types of tax and levies. Bill’s bumpy road to NASS Dusted, President Bola Tinubu in October transmitted four bills to the National Assembly. One of them sought requests to rename the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS). The National Assembly began legislative deliberations on the bills expeditiously. The Bills reading had progressed to the second reading before it encountered a stalemate. Contentious VAT imbroglio Some portions of the tax reform bill deemed injurious to the socio-economic development of a section of the country stirred controversy. The Northern governors called for the halting of further debate by the National Assembly on the tax reform bill. The governors from the region voiced their opposition to a clause in the VAT provision that provided for the derivation-based model for Value Added Tax distribution. They argue that the suggested approach would disadvantage the northern states and other less industrialized regions. Expressing discontent with the policy, the governors said that VAT is currently remitted based on the location of company headquarters rather than where goods and services are consumed. They added that the measure will negatively affect the distributed revenue from the Federal Accounts Allocation Committee. Based on concerns about the bills generated, the National Economic Council (NEC), in its last meeting presided over by Vice President Kashim Shettima, advised the president to withdraw the four bills to allow for more consultation. The NEC took the decision at its meeting held at the Presidential Villa. Membership of the NEC includes the governors of Nigeria’s 36 states. Responding to NEC advice, President Tinubu, in a statement by his spokesperson, Mr. Bayo Onanuga, urged the NEC to allow the process to take its full course. President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage,” he said. The pressure from Northern governors and other partisan groups became fierce and unrelenting. In the face of sustained mounting pressure from northern governors and 73 northern members, the House of Representatives halted the bill’s discussion indefinitely. Potpourri of views The tax bills have elicited diverse views, throwing up a potpourri of thoughts. Executive Director of the Patriots for the Advancement of Peace and Social Development, Dr. Sani Abdullahi Shinkafi, took a swipe at some state governors opposing President Bola Tinubu’s tax reforms bill. Shinkafi, a former national secretary of the All Progressives Grand Alliance (APGA), made this known during an interview. He noted that the opposition was indicative of laziness and a lack of innovation in governance. Shinkafi argued that much of the criticism stems from a lack of understanding. In addition, he accused regional leaders of perpetuating economic stagnation and underdevelopment. A former governor of Abia State and senator representing Abia North, Senator Orji Kalu said the Federal Government made a mistake not to have carried the National Executive Council (NEC), Nigeria Governors’ Forum, and the Council of State along in its tax reform bills. Orji Kalu, who spokein an interview with Arise Television, opened up on the controversial tax reform bills, saying the bills are very progressive and would bring back fiscal federalism in Nigeria. “As I told you before, the bill is very progressive. It will bring back fiscal federalism. Many senators have not been briefed. I think the federal government made a mistake. The initiators of the bills would have briefed the National Economic Council, Governors’ forum”. On his part, former presidential candidate of the Labour Party (LP), Mr. Peter Obi, advised the National Assembly not to rush the debate on the tax reform bill before them. Obi, on his X handle, also wants Nigerians, whom he identifies as sole beneficiaries, to be involved in the enactment of the bill. “Tax reform is a critical issue, and there is nothing wrong with pursuing it. However, such reforms must be subject to robust public debate,” Obi said. He welcomed the idea of a public hearing, describing it as essential, as it allows Nigerians from all walks of life to engage meaningfully. This is how we build public trust and ensure inclusivity in policymaking,” the former candidate stated. According to him, matters of this magnitude require extensive deliberation and careful consideration, adding, “They should never be rushed. Public hearings must be conducted to allow for diverse opinions and inputs.” Obi further advised that when considering tax reforms and similar issues, it is insufficient to focus solely on the benefits to the government, particularly in terms of increasing revenue collection. He wants Nigerians to take into account the overall impact on the nation and the sustainability of all its regions. In his contribution, the Peoples Democratic Party presidential candidate in the last election, Atiku Abubakar, urged lawmakers to be transparent about the public hearing process on President Bola Tinubu’s tax reform bills. He shared his view via his X official handle. Atiku wrote: “Nigerians are united in their call for a fiscal system that promotes justice, fairness, and equity. They are loud and clear that the fiscal system we seek to promote must not exacerbate the uneven development of the federating units by enhancing the status of a few states while unduly penalizing others.” The apex socio-cultural organization from the South-east, Ohanaeze Ndigbo, joining the South-west, South-south, and North-central parts of Nigeria, supported the landmark bills expected to significantly alter the existing fiscal framework. Ndigbo, in a statement issued by the Secretary General of the body, Okechukwu Isiguzoro, noted that the bills represent a transformative opportunity for the rejuvenation of small and medium enterprises (SMEs) and the enhancement of the fortunes of Nigerian workers. The Bills also sparked rowdy session at the House of Representatives. A member of the House, Ghali Mustapha Tijjani, representing the Albasu/Gaya/Ajingi constituency of Kano State, described the four reform bills before the National Assembly as “anti-people” and must be rejected. In an interview with newsmen at the National Assembly, Tijani said the bills are not in public interest and should be withdrawn for proper consultations and inputs from all stakeholders. “I have a background in finance, as a student of International Corporate Finance, so I have an idea of what all this is all about. The bills actually are not in tandem with public interest, and they’re not pro-masses. “This is a capitalist bill, and for such a reason, I, Dr. Ghali Mustafa Tijjani, am rejecting this bill as a member that represents the people. I’m in the Parliament to ensure that my people are well represented and Nigerians have all the benefits and dividends of democracy. Therefore, these tax reform bills are capitalistic in nature and are siphoning the poor, so to say”, he stated. Re-engaging stakeholders Rather than throwing out the four bills as some interest groups would suggest, Oyedele, said the federal government will re-engage stakeholders. Speaking at a town hall meeting on “Tax Reform Bills: Charting the Way Forward,” hosted by a national television network, Oyedele said the committee was rather ready to repeat engagements with stakeholders. According to him, now that the bills appeared to have generated renewed interest from stakeholders, who hitherto showed no interest, the committee was prepared to repeat the engagement process. He said consultation will also continue even after the bills have been passed into law. Commenting on allegations that the presidential tax reform committee did not consult the state governors, Oyedele said, “No, they won’t say we didn’t consult them. They are saying we need to consult more, which we agree with because consultation will never end. Even after passing the bills, we must continue to consult. Presidency dispels partisanship politics In the heat of controversy trailing the implementation of the bills, Presidency dismissed claims that the proposed tax reform bills before the National Assembly would impoverish northern Nigeria or disproportionately benefit Lagos and Rivers states. Onanuga restated that the reforms aim to improve the quality of life for all Nigerians, particularly the disadvantaged, and streamline tax administration to foster a better business environment. The statement followed concerns raised by Borno State Governor Babagana Zulum, who claimed that the proposed Value Added Tax (VAT) sharing model might favor Lagos and Rivers states – the fears Oyedele has dispelled. To further assuage ill thoughts harbored by some group of persons on the bills, President Tinubu directed the Justice Ministry to work with the National Assembly on concerns over tax bills. Mr. Mohammed Idris, the Minister of Information and National Orientation on behalf of the government, said, “President Tinubu and the administration will continue to champion policies that close the loopholes and gaps through which Nigeria’s valuable public resources have been frittered away for decades.”. “On top of this necessary foundation, the resources being conserved and realized from these reforms will be invested in critical infrastructure (healthcare, education, transportation, digital technology, etc.) and in social investments that will benefit all Nigerians and ensure that no one is left behind. This is the promise and the reality of the Renewed Hope agenda.” All said, there is no denying that in spite of the arguments against them, many informed observers strongly believe that the tax reforms bills are vital for the development of the nation and the sustainability of the various sections. It therefore, behooves on the Tinubu to strategically engage the National Assembly, the state governors and the people on the benefits derivable for the bills.