Latest news with #NAFA
Associated Press
20-06-2025
- Business
- Associated Press
Cost-Saving Air Filtration for Ontario Schools: Expert Insights from Camfil Canada Air Quality Specialist Joshua Guthrie
06/20/2025, Toronto, ON // KISS PR Brand Story PressWire // Indoor air quality (IAQ) plays a crucial role in creating a healthy and productive learning environment for students and staff in Ontario schools. Camfil Canada has launched a new article and accompanying video focusing on how schools in Ontario can save money on air filtration costs while improving indoor air quality. The resources are designed to help school boards and administrators tackle rising operational costs in a practical, effective way. The article, How Canadian Schools Can Save Money and Create Healthier Learning Environments, highlights the growing financial pressures faced by Canadian schools and introduces innovative ways to cut expenses related to HVAC systems and air filter maintenance. The video further supports this message by detailing real-world examples of cost-saving strategies implemented in Ontario schools, including the use of advanced air filters with high dust-holding capacities and energy-efficient designs. 'As school boards across Canada face funding pressures and seek to decrease operational costs, they could be overlooking an expense that could achieve significant savings for schools,' said Joshua Guthrie, Life Science Segment Leader and NAFA Certified Air Filtration Specialist at Camfil Canada, 'The type of air filter used could be costing Canadian schools far too much in terms of energy consumption, labour for changeouts and maintenance, and filter replacement costs.' Key topics covered include how premium filters can extend service life, reduce waste, lower energy consumption, and decrease overall HVAC system strain. Notably, Camfil Canada's team emphasizes on-site testing and Life Cycle Cost analysis (LCC) as essential tools for tailoring filtration solutions to a specific school's needs. The article also sheds light on the impressive results achieved by some Ontario school boards, where transitioning to advanced filtration systems resulted in reduced filter replacement costs and significant energy savings. One Ontario school board, for instance, saved over $500,000 in filter costs alone by adopting Camfil's air filter solutions. To learn more about how school districts can save on energy costs while improving air quality in Ontario schools, read Camfil Canada's full article and watch the accompanying video. To access these resources, see the article at Camfil Canada or watch the full video on YouTube here. About Camfil Canada For more than 60 years, Camfil has been helping people breathe cleaner air. As a leading manufacturer of premium clean air solutions, we provide commercial and industrial systems for air filtration and air pollution control that improve worker and equipment productivity, minimize energy use, and benefit human health and the environment. Media Contact: Phillip Ilijevski Phone: 437-929-1161 Email: [email protected]
Associated Press
20-06-2025
- Business
- Associated Press
Coalition for Annuity Awareness Collaborates to Strengthen Annuity Education, Awareness and Access
Washington, DC June 20, 2025 --( )-- As economic and financial uncertainties continue to dominate headlines, the Coalition for Annuity Awareness is working to help a growing number of Americans use annuities to combat common retirement risks by celebrating National Annuity Awareness Month each June. The group has spent more than a decade pursuing this initiative, building momentum through various marketing channels and communication mediums targeting distributors, annuity professionals, retirement savers, state governors and federal policymakers. Ultimately, the Coalition's goal is to provide free and unbiased information about the fundamentals of annuity products and their role in creating predictable lifetime income, and to reinforce the importance of giving Main Street Americans access to the valuable benefits they provide. One prominent event members of the Coalition hosted in support of these efforts was a Financial Security Caucus briefing 'A paycheck for life? It's a thing.' on June 17, 2025, in the 2168 Rayburn House Office Building on Capitol Hill. The purpose of the Caucus is to educate lawmakers about the ongoing need for public policy that encourages Americans to save more, plan ahead, and protect their financial and retirement security. 'Fifteen years ago when NAFA initially declared June as National Annuity Awareness Month, we had a vision for using our platform to provide tools and resources that our audiences could trust as they seek to educate themselves about annuities. Our Coalition partners have been integral to helping us transform this initiative into a movement,' said Chuck DiVencenzo, president and CEO of the National Association for Fixed Annuities (NAFA). 'Each year, we're pleased to see more stakeholders participating in the celebration and more hardworking Americans becoming aware of how valuable annuities can be in their accumulation, income and legacy planning.' NAFA is joined in the Coalition for Annuity Awareness by industry associations including the American Council of Life Insurers (ACLI), Finseca, the Insured Retirement Institute (IRI) and the National Association of Insurance & Financial Advisors (NAIFA), as well as a number of companies who provide support to those associations and their member companies. Additionally, a dozen Coalition member companies have also committed to sponsoring the National Annuity -more- Awareness Month campaign, including Allianz, American Equity Investment Life Insurance Company, AnnuaProfectus, Athene, Delaware Life, EquiTrust Life Insurance Co., MassMutual Ascend, North American, Reliance Standard, SILAC Insurance Company, The Index Standard and The Standard. The demise of traditional pensions, prominent longevity risk and potential unreliability of Social Security are all part of a growing challenge Americans face in preparing successfully for retirement. In fact, according to the National Institute on Retirement Security, approximately eight in 10 Americans across party lines agree that our nation is facing a retirement crisis. Despite the need for thorough preparation, current data from the Employee Benefit Research Institute indicates that 29 percent of workers have less than $25,000 saved for retirement. Given that Peak 65 is upon us — with more than 4.1 million Americans turning 65 each year through 2027, equating to more than 11,200 people retiring every day — it is clear there is work to be done to help more individuals attain retirement security. 'Life insurers put life into America through our economic investments and financial protection products. Annuities provide guaranteed income for life, offering retirees unparalleled financial security and peace of mind. And ACLI research shows that this stability allows them to delay receiving Social Security payments, ultimately saving the program $100 billion as the greatest surge of Baby Boomers retires,' said David Chavern, American Council of Life Insurers (ACLI) president and CEO. An increasing number of individuals and families are turning to insurance products and, specifically, annuities for positioning a portion of their assets to address future planning needs. According to LIMRA, annuity sales totaled a record-high $434.1 billion in 2024, driven by pent-up demand for investment options that offer a balance of protection and growth. Despite the growth in this market, the majority of Americans neither own nor understand annuities. In fact, LIMRA data indicates only 12 percent of U.S. households own an annuity, and the American College of Financial Services gave Americans a score of 12% out of a possible 100% for their knowledge of annuities in the school's Retirement Income Literacy Study. Current efforts to modernize the industry's educational initiatives and annuity sales processes are aimed at combating these challenges. 'Helping more Americans meet their retirement planning needs starts with innovation,' said Wayne Chopus, President and CEO at the Insured Retirement Institute (IRI). 'Through IRI's Digital First for Annuities initiative, we're driving a digital transformation in the way annuity products are marketed, sold, and serviced. By creating modern standards and fostering real-time integrations, IRI is helping to eliminate inefficiencies, increase accessibility, and provide better experiences for financial professionals and consumers.' In recent years, the industry has lauded efforts from Congressional leaders in both the House and the Senate for pursuing legislation that would provide workers with greater access to annuities in retirement planning. As part of National Annuity Awareness Month outreach, NAFA has led efforts to obtain proclamations from each governor declaring Annuity Awareness Month in his or her state, bringing policymaker education to the forefront of the campaign. Early adopters in 2025 -more- include the District of Columbia, Georgia, Illinois, Kansas, Missouri, Nebraska and Wisconsin with more than 30 states having supported this initiative since its inception. 'The American people face a $483 trillion retirement savings gap and a $240 trillion protection gap, according to Ernst & Young,' said Marc Cadin, CEO of Finseca. 'Annuities are a powerful solution — providing guaranteed, lifetime income that helps secure financial stability in retirement. As the voice of the financial security profession, Finseca works closely with leaders in Congress to protect and expand access to annuities so more hardworking Americans can gain peace of mind today and face life's uncertainties with confidence tomorrow.' 'NAIFA supports National Annuity Awareness Month as part of our commitment to helping Americans prepare for a secure financial future,' said NAIFA CEO Kevin Mayeux, CAE. 'Our members work every day to provide individuals and businesses with expert guidance, affordable financial products, and confidence in long-term planning. At the same time, NAIFA is working with Congress to advocate for sound tax policies that preserve the important benefits of annuities and ensure they remain a reliable option for retirement planning.' the official home of National Annuity Awareness Month, is filled with educational, product agnostic resources that financial professionals and consumers alike can use to better understand how annuities can help mitigate various retirement risks and complement other strategies in holistic plans for retirement. Those interested in engaging with National Annuity Awareness Month efforts are encouraged to follow along on LinkedIn, X, Facebook and YouTube under the @AnnuRetirement handle. About The Coalition for Annuity Awareness The Coalition for Annuity Awareness is comprised of industry associations who serve consumers by helping them understand annuity products. As today's challenging economic environment continues to evolve, a growing number of individuals and families are turning to annuities to help provide security for their retirement. Specifically, many consumers are using annuities as a vital risk management tool to protect themselves against the possibility of outliving their financial resources. Annuities are unique among financial products in the marketplace because they can provide retirees with a guaranteed lifetime income stream. Currently, there is approximately $1 trillion of in-force premium serving roughly 8 million Americans. The annuity market largely consists of middle-class consumers with a median annual household income of around $79,000 [1]. Roughly six in 10 annuity contracts are valued at $200,000 or less.[2] During 2023, life insurance companies paid $129 billion in annuity benefit payments, providing crucial retirement security to contract holders[3]. In addition, Americans deposited $383 billion in individual, group and supplementary annuity contracts. [1] 2022 Survey of Owners of Individual Annuity Contracts conducted by The Gallup Organization and Greenwald & Associates for The Committee of Annuity Insurers [2] 2024 Survey of Fixed Annuity Owners, conducted by Greenwald & Associates for NAFA [3] The American Council of Life Insurers (ACLI) Life Insurers Fact Book 2024 Contact Information: NAFA Chuck DiVencenzo - President & CEO 414-332-9306 Contact via Email Read the full story here: Coalition for Annuity Awareness Collaborates to Strengthen Annuity Education, Awareness and Access Press Release Distributed by
Khaleej Times
28-05-2025
- Business
- Khaleej Times
End of free trade era? Tariff war could stall growth for 3 years, CFO warns
Free trade, as the world has known it, is over at least for the next three years, according to a global shipping company head. Ali Abouda, Group Chief Financial Officer (CFO) at Gulf Navigation Holding PJSC, also observed that the world is now in an "active trade war" and finance professionals must resort to frequent forecasting and scenario planning to navigate the uncertain times. "Budgeting has probably become a redundant exercise," said Abouda. "We are going through a very, very unpredictable time in terms of business environment. If there's no stability where you operate, then everything becomes quite difficult and challenging. Budgeting should be replaced by scenario forecast and I think a very frequent forecast should be the name of the game." Ali was in conversation with Khaleej Times Chief Content Officer Ted Kemp about the impact of US tariffs on finance professionals at the sixth edition of the New Age Finance and Accounting (NAFA) summit organized by Khaleej Times. The event saw CFOs, finance leaders, policymakers, and fintech innovators engage in dialogue on various topics including taxes, ESG, and reskilling the workforce. How does Section 301 impact trade? One of the topics of discussion during the conversation was Section 301. Kemp questioned how the section of the Trade Act of 1974, which targets Chinese ships, would impact trade. Abouda explained that 90 per cent of global trade was accounted for by shipping - a field dominated by China. "The US took a decision to keep the brain in the US and move the muscles elsewhere. Section 301 targets Chinese-built, owned, or operated vessels calling at US ports, imposing penalties of $500,000 to $1 million per call in addition to the tariffs. "The resolution is expected to be effective October 4, and if this goes through, I think there will be a structural change in the whole supply chain. China, in one way or another, control about 60 percent of the shipping, either through building or through financing or operating or resources," he said. Unclear directives from US Abouda added that while the Trump administration was agile in decision-making, it lacked clarity. "If the US wants to build more ships, that's all good, except that it isn't something that's going to happen quickly," he said. "I don't know what's the thought process behind it." He gave the example of how US President Donald Trump encouraged more American companies to drill oil, with his 'drill, baby, drill' slogan. "That's practically not possible, because the US doesn't have the capacity today to start increasing production by 3 or 4 million barrels immediately," he said. "That needs a lot of regulations to be in place and a lot of investments, which the US is not ready for. If I was one of the leaders of those companies, I would think twice. If you go with the mandates of an administration that has three years left, maybe the next administration will have a totally different view," Abouda added. He said that Trump's constant shift in tariff policies was also damaging to the industry. "The most recent example is, he imposed a 50 percent tariff on Europe and two days later, it was pushed to July 9," he said. "So, he's creating an environment which is very difficult to do business in."
Khaleej Times
28-05-2025
- Business
- Khaleej Times
UAE: Why today's CFOs need to go beyond balance sheets, crunching numbers
A company's Chief Financial Officer (CFO) should not just focus on balance sheets and numbers but also act as a catalyst connecting strategy with execution and driving results. With artificial intelligence and technological advancements powering the workplace forward, it has become more important than ever for CFOs to stay close to their teams and listen to them carefully. That's according to Dr Alida Helena Scholtz, CFO of Ras Al Khaimah Economic Zone (RAKEZ). 'There are three things you must be known for,' she said, addressing a room full of CFOs and other senior financial professionals. 'You're the co-pilot to the CEO, you must be the change agent driving digital transformation, and thirdly, you have to be the steward of the integrated value of the organisation.' Dr Alida shared an example of how she had achieved substantial results in her role. 'We had a two-year vision at RAKEZ,' she said. 'In the 18 months I worked there, we went from managing 14,000 companies to, I think this morning, 35,732 companies in our portfolio. We operationalised that by connecting the teams. We put in place cross-functional teams, cross-functional expertise, financial education, continuous member coaching, and alignment across the organisation.' She was speaking on a panel at the New Age Finance and Accounting (NAFA) Summit organised by Khaleej Times, which brought together some of the most prominent CFOs, finance leaders, policymakers, and fintech innovators. The sixth edition of the event, held at the Jumeirah Emirates Towers on Wednesday, saw thought-provoking dialogue on regulation, tax, ESG, and financial leadership. Thomas Teo, CFO of Jameel Motors, agreed with her and added that he has observed several commonalities throughout his career spanning over seven countries across various continents. 'Working in every single country, the answer is four letters – NICE,' he said. 'It's nice to be important, but it's more important to be nice. You need to treat people the way they want to be treated — with respect and trust. To be a strategic CFO, my mandate is always to talk to the team: find out who they are, what their strengths and weaknesses are, and how they work together. Second, I look at the technology we use and ask whether we need to improve it. As the catalyst for change, we need to drive transformation from the ground up.' Role of technology Another speaker on the panel, Sanjiv Jain, Group Chief Accounting Officer of G42, explained that technology can significantly reduce operational inefficiencies. 'We built our Procurement Navigator,' he said. 'What it does is automate real-time price comparisons from a panel of suppliers for general items like bottled water — and the order is placed immediately.' He added that the person in charge of procurement feels 'empowered' and no longer has to 'waste time' calling different suppliers or seeking multiple approvals. Paolo Lo Monaco, former Group CFO of Al Khayyat Investments and Chalhoub Group, added that while technology is available to everyone, what sets companies apart is their ability to find the right people to 'drive experiences and ensure successful implementation' of those technologies to grow the business. Family offices Meanwhile, Khalid Chami, Group CFO at Ali & Sons Holding, explained that things work a little differently in family-run businesses. 'I've seen a lot of CFOs talking about AI when they don't even have the basic infrastructure in place yet,' he said. 'In a family business, the most important asset is the family name. Whatever you do, you should be looking at long-term opportunities that protect that asset.' He added that such offices tend to have a much more long-term vision compared to other companies. 'In family offices, CFOs are not there to achieve monthly targets,' he said. 'You need to approach your work with the long-term vision of the third or even fourth generation in mind. We aim to build things that are time-proof.'
Zawya
27-05-2025
- Business
- Zawya
Khaleej Times to unite innovative thinkers to shape the future of finance
Dubai – Khaleej Times proudly presents the 6th New Age Finance and Accounting Summit (NAFA) on 28th May 2025 at Jumeirah Emirates Towers, Dubai, the region's ultimate gathering of finance leaders, tax strategists, and AI visionaries. This year's theme, 'Transforming Finance,' sets the stage for a dynamic agenda featuring powerhouse speakers from Microsoft, Anaplan, G42, Jameel Motors, Ali & Sons, RAKEZ, LinkedIn MENA, Hanson Search, BPG Group, Al Naboodah, AW Rostamani, Barclays, Mantrac Group, NMC Healthcare, Andersen, Al Tamimi & Co, MCA Gulf, DAMAC, and more. Expect gripping discussions on AI-powered CFO leadership, predictive financial insights, UAE corporate tax strategy, e-invoicing, and real-time analytics, with each session designed to supercharge your financial strategy. A crucial topic is the UAE's corporate tax regime, which has significant implications for businesses operating in the region. Asiya Zargar, Group Head of Tax, Mantrac Group, emphasizes the importance of adapting to these changes. 'With the UAE's corporate tax regime now firmly in place, it's essential for businesses to master compliance and craft resilient tax strategies. I'll be sharing practical insights at this pivotal moment in the country's regulatory landscape,' she says, setting the tone for the Corporate Tax Strategy Panel she will be moderating. The summit also promises to address the global nature of finance, with insights from industry leaders like Ted Kemp, Chief Content Officer at Khaleej Times. 'Finance is global, shipping is global, and today disruption is global. I'm excited to sit down with Gulf Navigation CFO Ali Abouda, a financial leader across these dynamics,' Kemp shares. 'NAFA 2025 will deliver insights everyone can act on.' Manish Kothari, Group Head Tax at AW Rostamani Group, will further elaborate on the intricacies of adapting to new tax regulations. 'The UAE's corporate tax shift is a pivotal step towards aligning with global standards. At NAFA 2025, I'll share practical insights on navigating these changes, from FTA expectations to effective corporate tax strategies,' Kothari adds, providing a roadmap for businesses trying to align with these new standards. The day will also unveil the UAE's Most Influential CFOs, brought to you by Qashio, and provide an unrivalled platform for C-suites and decision-makers to connect, challenge conventions, and chart a bold future for finance. With partners including Anaplan, Andersen, MCA Gulf, Cleartax, Jedox, Signzy, Tally, Al Tamimi & Co, MICS, and Qashio | Visa, NAFA 2025 is the stage where the next era of financial transformation is written. For more information, visit the website:
