Latest news with #ARI
GMA Network
3 days ago
- Business
- GMA Network
Thunder Consortium bags P36.26B hydro power plant complex in Laguna
Thunder Consortium, composed of Aboitiz Renewables Inc. (ARI), Sumitomo Corporation, and Electric Power Development Co. Ltd (J-Power), has been awarded the winning bidder for the P36.26-billion sale and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex. In a regulatory filing, ARI's parent firm Aboitiz Power Corp. said the company was informed on Monday, July 21, that the Power Sector Assets and Liabilities Management Corp. (PSALM) issued a Notice of Award to the Thunder Consortium last Friday, July 18, 2025. 'The Thunder Consortium will undergo the post-award process required by PSALM,' the filing read, but did not elaborate. Thunder Consortium was the highest-ranking bidder for the asset, offering P36.26 billion, and besting the FGKW Consortium of First Gen Prime Energy Corporation and Korea Water Resources Corporation. Located in Lumban, Majayjay and Kalayaan in Laguna, the CBK complex is part of the assets being sold by PSALM to fund the settlement of its liabilitations and obligations that are assumed from the National Power Corp. (Napocor). The CBK Hydroelectric Power Plants are part of the assets the government targets to privatize this year, along with assets in NLEX Corp. (P330 million), receivables in the Nonoc Mining and Industrial Corp. (P820 million), Elorde Sports and Tourism Development Corp. (P621 million), Food Terminal Inc. (P40.46 billion), and SMC Slex Inc. (P12.0 to P24.8 billion). The power plants are currently operated under a 25-year build-rehabilitate-operate-transfer agreement with CBK Power Company Ltd., which is set to expire in February 2026. The government is also looking to raise P100 billion next year. Based on the latest report of the Development Budget and Coordination Committee (DBCC), the administration is looking to generate P4.520-trillion in total revenues this year, and P4.983 trillion in 2026. ARI is a wholly-owned subsidiary of Aboitiz Power Corp., and represents the company's investments and interests in renewable energy projects including geothermal, large hydro, run-of-river hydro, wind, battery energy storage systems, and solar projects. Shares in ARI were last trading at P41.65 apiece, up by P0.50 or 1.21%. —VAL, GMA Integrated News
Yahoo
16-07-2025
- Business
- Yahoo
Anthropic proposes transparency framework for frontier AI models
The artificial intelligence (AI) startup Anthropic laid out a 'targeted' framework on Monday, proposing a series of transparency rules for the development of frontier AI models. The framework seeks to establish 'clear disclosure requirements for safety practices' while remaining 'lightweight and flexible,' the company underscored in a news release. 'AI is advancing rapidly,' it wrote. 'While industry, governments, academia, and others work to develop agreed-upon safety standards and comprehensive evaluation methods—a process that could take months to years—we need interim steps to ensure that very powerful AI is developed securely, responsibly, and transparently.' Anthropic's proposed rules would apply only to the largest developers of frontier models or the most advanced AI models. They would require developers to develop and publicly release a secure development framework, detailing how they assess and mitigate unreasonable risks. Developers would also be obligated to publish a system card, summarizing testing and evaluation procedures. 'Transparency requirements for Secure Development Frameworks and system cards could help give policymakers the evidence they need to determine if further regulation is warranted, as well as provide the public with important information about this powerful new technology,' the company added. The AI firm's proposed framework comes on the heels of the defeat last week of a provision in President Trump's tax and spending bill that initially sought to ban state AI regulation for 10 years. Anthropic CEO Dario Amodei came out against the measure last month, calling it 'far too blunt an instrument' to mitigate the risks of the rapidly evolving technology. The AI moratorium was ultimately stripped out of the reconciliation bill before it passed the Senate. The company's framework earned praise from AI advocacy group Americans for Responsible Innovation (ARI), which praised Anthropic for 'moving the debate from whether we should have AI regulations to what those regulations should be.' 'We've heard many CEOs say they want regulations, then shoot down anything specific that gets proposed — so it's nice to see a concrete plan coming from industry,' Eric Gastfriend, executive director at ARI, said in a statement. 'Anthropic's framework advances some of the basic transparency requirements we need, like releasing plans for mitigating risks and holding developers accountable to those plans,' he continued. 'Hopefully this brings other labs to the table in the conversation over what AI regulations should look like.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
07-07-2025
- Business
- The Hill
Anthropic proposes transparency framework for frontier AI models
The artificial intelligence (AI) startup Anthropic laid out a 'targeted' framework on Monday, proposing a series of transparency rules for the development of frontier AI models. The framework seeks to establish 'clear disclosure requirements for safety practices' while remaining 'lightweight and flexible,' the company underscored in a news release. 'AI is advancing rapidly,' it wrote. 'While industry, governments, academia, and others work to develop agreed-upon safety standards and comprehensive evaluation methods—a process that could take months to years—we need interim steps to ensure that very powerful AI is developed securely, responsibly, and transparently.' Anthropic's proposed rules would apply only to the largest developers of frontier models or the most advanced AI models. They would require developers to develop and publicly release a secure development framework, detailing how they assess and mitigate unreasonable risks. Developers would also be obligated to publish a system card, summarizing testing and evaluation procedures. 'Transparency requirements for Secure Development Frameworks and system cards could help give policymakers the evidence they need to determine if further regulation is warranted, as well as provide the public with important information about this powerful new technology,' the company added. The AI firm's proposed framework comes on the heels of the defeat last week of a provision in President Trump's tax and spending bill that initially sought to ban state AI regulation for 10 years. Anthropic CEO Dario Amodei came out against the measure last month, calling it 'far too blunt an instrument' to mitigate the risks of the rapidly evolving technology. The AI moratorium was ultimately stripped out of the reconciliation bill before it passed the Senate. The company's framework earned praise from AI advocacy group Americans for Responsible Innovation (ARI), which touted Anthropic for 'moving the debate from whether we should have AI regulations to what those regulations should be.' 'We've heard many CEOs say they want regulations, then shoot down anything specific that gets proposed — so it's nice to see a concrete plan coming from industry,' Eric Gastfriend, executive director at ARI, said in a statement. 'Anthropic's framework advances some of the basic transparency requirements we need, like releasing plans for mitigating risks and holding developers accountable to those plans,' he continued. 'Hopefully this brings other labs to the table in the conversation over what AI regulations should look like.'
Yahoo
24-06-2025
- Business
- Yahoo
ARI Q1 Deep Dive: Loan Portfolio Expansion and Asset Resolution in Volatile Market
Commercial real estate REIT Apollo Commercial Real Estate Finance (NYSE:ARI) reported Q1 CY2025 results exceeding the market's revenue expectations , but sales fell by 18.3% year on year to $65.82 million. Its non-GAAP profit of $0.24 per share was 8.8% above analysts' consensus estimates. Is now the time to buy ARI? Find out in our full research report (it's free). Revenue: $65.82 million vs analyst estimates of $62.68 million (18.3% year-on-year decline, 5% beat) Adjusted EPS: $0.24 vs analyst estimates of $0.22 (8.8% beat) Market Capitalization: $1.37 billion Apollo Commercial Real Estate Finance's first quarter reflected a year of transition for the commercial real estate market. Despite an 18.3% decline in sales compared to the prior year, the company surpassed Wall Street's revenue and non-GAAP profit expectations. Management attributed the quarter's performance to robust loan origination activity, with $650 million in new loans primarily focused on U.S. residential properties and data centers, while emphasizing the importance of proactive asset management and asset resolutions to drive portfolio returns. CEO Stuart Rothstein noted, 'the recent volatility has led to modest spread widening and a more cautious tone in the market.' Looking ahead, management framed the outlook as dependent on both market recovery and successful redeployment of capital from resolved assets. The company expects distributable earnings to improve as capital is recycled into higher-yielding loans, and highlighted strong secular demand for residential and data center properties. CFO Anastasia Mironova stated that 'Q1 results represent a trough,' with expectations that future earnings will meet or exceed the current quarterly dividend run rate. Management emphasized continued caution around macroeconomic headwinds, particularly the risk of a recession and construction cost inflation due to tariffs. Management pointed to new loan originations, asset sales progress, and a balanced U.S.-Europe portfolio as central to first quarter results and ongoing strategy. Loan origination momentum: The company closed $650 million in new loans during the quarter, mostly secured by residential properties and a data center, reflecting continued demand in these segments despite market caution. Active asset management: ARI reported progress on resolving focus assets, including notable sales at 111 West 57th Street, which helped reduce exposure and is expected to further free up capital for reinvestment as more units close. Portfolio growth and mix: The loan portfolio grew to $7.7 billion, with a stable risk profile. Management highlighted a diverse mix across U.S. and European markets, allowing flexibility to shift capital in response to regional market dynamics. Secured borrowing expansion: The company increased its secured borrowing capacity, extending and upsizing facilities with key lenders and adding new counterparties, which management views as critical for maintaining liquidity and supporting future loan growth. Focus on yield and risk: The weighted average yield remained at 7.9%, with management reiterating disciplined underwriting and a cautious approach to new investments, especially as macroeconomic risks remain elevated. Looking forward, ARI's performance will hinge on successful asset resolutions, capital redeployment, and managing macroeconomic headwinds such as recession risk and construction cost inflation. Capital recycling and asset sales: Management expects repayment and resolution of focus assets, notably 111 West 57th Street and Liberty Center, to provide capital for new higher-yielding investments. Timely asset sales are key to supporting loan growth and earnings. Macro and market volatility: The outlook is tempered by uncertainty around potential recession impacts, particularly on hospitality and office assets, and higher construction costs due to tariffs. Management is monitoring these risks and adjusting asset allocation accordingly. Loan origination pipeline: The forward pipeline includes both U.S. and European deals, with management emphasizing flexibility to shift focus depending on where opportunities arise and credit conditions remain favorable. The company aims to sustain strong origination momentum while maintaining portfolio quality. In the quarters ahead, our analysts will focus on (1) progress in asset resolutions and repayments, especially at 111 West 57th Street and Liberty Center; (2) the pace and mix of new loan originations across the U.S. and Europe; and (3) the company's ability to maintain portfolio quality and yields amidst ongoing macro volatility. Managing construction cost inflation and securing favorable borrowing terms will also be important signposts for ARI's execution. Apollo Commercial Real Estate Finance currently trades at $9.92, up from $9.08 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. 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New Indian Express
24-06-2025
- General
- New Indian Express
Two-thirds of Canadians want Air India's Kanishka bombing to be part of school curricula: Survey
CHANDIGARH: Two-thirds of Canadians believe details of the Kanishka Air India flight bombing in 1985 by Khalistani extremists in which 280 Canadian citizens and 49 others died should be part of the school curricula, while seven in ten say an exhibit on it should be created at the Canadian Museum of History. The findings were made by a new survey conducted by the non-profit Angus Reid Institute (ARI), published on the 40th anniversary of the bombing on June 23. "Today marks 40 years to the day that Canada endured the worst terror attack in its history, but if you ask most Canadians, there's a good chance they'd be unable to tell you that. On June 23, 1985, 280 Canadian citizens and 49 other people died when an explosion caused by a bomb brought down Air India Flight 182 on its way from Canada to London, England." "New data from the non-profit Angus Reid Institute finds few Canadians, approximately one-in-five (17 per cent), able to identify the Air India bombing as the deadliest terror attack Canada has endured. Further, just one-in-10 (9 per cent) say they know a lot about the incident, while one-third (32 per cent) had never heard of it," said the ARI. "There is larger agreement that the tragedy has never been treated as a national one by Canada. Half (51 per cent) believe the bombing "has never been treated like a Canadian tragedy", a proportion that grows among those who know a lot (60 per cent) about the incident. There is appetite among most Canadians for more to be done to educate the country about the incident," it added.
