Latest news with #Statement
Saudi Gazette
a day ago
- Business
- Saudi Gazette
IMF praises Saudi economic resilience, inflation control, and Vision progress
Saudi Gazette report RIYADH — The Ministry of Finance has welcomed the Concluding Statement issued by the International Monetary Fund (IMF) following the completion of its 2025 Article IV Consultation with the Kingdom. The statement highlighted the resilience of Saudi Arabia's economy amid global uncertainty, driven by robust non-oil sector growth, low inflation, and record-low unemployment, all aligned with the strategic goals of Vision 2030. In a press release, the ministry noted the IMF's commendation of the Saudi government's efforts to reinforce fiscal sustainability and its ability to absorb economic shocks. The experts observed that strong domestic demand continues to fuel economic momentum despite global headwinds, reflecting the effectiveness of major Vision 2030 projects supported by both public and private investments. The IMF experts highlighted the Kingdom's success in containing inflation, which stood at 2.3% in April 2025, and is expected to remain near 2%. This stability is underpinned by several factors, including the riyal's peg to the US dollar, supportive government policies, lower transportation and communication costs, and a cooling of residential rent inflation. Imported inflation, largely stemming from global tariff increases, remains under control. The report also praised the Saudi Central Bank (SAMA) for enhancing its liquidity management framework, noting its role in maintaining stable monetary conditions. The experts acknowledged SAMA's continuous efforts to improve regulatory and supervisory mechanisms and further strengthen oversight in the financial sector. A key focus of the statement was the Kingdom's reform trajectory since 2016. The IMF noted the wide-ranging progress in business regulation, governance, labor markets, and capital market reforms. It cited new regulations enacted in 2025, including an updated investment law, labor law amendments, and a modernized commercial registration system. These initiatives are expected to enhance investor confidence, stimulate productivity, and support sustained non-oil sector growth. The IMF stressed the need for continued fiscal reform and a strong medium-term fiscal framework to maintain the sustainability of public finances and achieve Vision 2030's long-term objectives. The Concluding Statement represents the preliminary findings of the IMF mission and forms part of its annual economic consultations with member countries under Article IV of the IMF's Articles of Agreement. These consultations aim to assess economic developments, policy directions, and structural reforms. The Ministry of Finance reaffirmed its commitment to working closely with the IMF and other international institutions to ensure economic resilience, strengthen fiscal governance, and continue progress on structural reforms in support of the Kingdom's long-term development vision.
Cision Canada
19-06-2025
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel sanctions Michael Rolland Smith Français
HALIFAX, NS, June 19, 2025 /CNW/ - Following a disciplinary hearing held on June 2, 2025, at which an Agreed Statement of Facts was provided, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that Michael Rolland Smith: (a) misappropriated monies from a client or otherwise obtained monies from a client, some or all of which were not repaid, (b) changed the designated beneficiary for a client's mutual fund accounts to family members, and (c) failed to cooperate with an investigation into his conduct by CIRO Staff. The hearing panel imposed the following sanctions on Michael Smith: (a) a global fine of $1,509,879.41 (b) a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO. Michael Smith will also pay costs of $20,000. The hearing panel's reasons for decision will be made available at The Agreed Statement of Facts is available at: Smith, Michael – Agreed Statement of Facts At all material times, Michael Smith conducted business with Investors Group Financial Services Inc. in the Amherst, Nova Scotia area. Michael Smith is not currently registered in the securities industry in any capacity. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms. SOURCE Canadian Investment Regulatory Organization (CIRO)
Finextra
18-06-2025
- Business
- Finextra
Tipalti buys treasury automation outfit Statement
Tipalti, the AI-powered platform for finance automation, today announced the acquisition of Statement, an AI-native treasury automation solution. With this addition, Tipalti deepens its treasury offerings with powerful real-time cash intelligence capabilities to enhance cash flow visibility, insights, and forecasting driven by AI. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Tipalti continues to accelerate its market leadership by providing a comprehensive suite of finance automation solutions in one platform, designed for mid-market businesses across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management, tax compliance, and treasury. Transforming Treasury with AI Statement transforms traditional treasury operations, equipping finance teams with real-time visibility and control to make better financial decisions. Leveraging advanced AI and machine learning, Statement's solution automates and streamlines the manual processes of cash position visibility, cash flow forecasts, and cash insights across many types of platforms, such as banks, ERPs, billing tools, and databases. With more efficient workflows and timely cash data, finance leaders can optimize working capital, improve liquidity, and ensure forecasts are accurate, resulting in better overall control of cash flow and more informed decision-making. "I am excited to welcome Statement to the global Tipalti team and to accelerate our treasury capabilities with powerful AI innovation for finance teams around the world," said Chen Amit, CEO and Co-founder of Tipalti. "For many global businesses in today's economy, getting complete and instant cash flow visibility across bank accounts, systems, entities, and currencies is very complex. Together, we have a unique opportunity to evolve our customers' treasury operations into a key business driver, empowering them to take control of their cash flow and maintain real-time visibility of their business finances. This addition to our finance automation suite furthers our mission to elevate how finance teams operate in the global economy." "We are thrilled to join a global leader like Tipalti. We have a shared vision for transforming finance operations so our customers can focus on their business," said Idan Vlodinger, CEO and Co-founder at Statement. "Innovating in treasury with AI-driven automation has been our sole focus since day one. Our AI-native solution complements the Tipalti suite with capabilities to help businesses manage cash with ease. With Tipalti's global scale, we will be able to help more customers streamline complex cash management processes, optimize liquidity, and forecast cash flow with more confidence." Transaction Details The deal was signed on June 16, 2025 and is expected to close shortly. Terms of the acquisition were not disclosed.
Cision Canada
17-06-2025
- Business
- Cision Canada
Tipalti Acquires AI-native Treasury Automation Provider, Statement
Brings real-time, AI-driven cash intelligence to global finance automation suite, furthering Tipalti's leadership as the AI-powered platform for finance FOSTER CITY, Calif. and NEW YORK, June 17, 2025 /CNW/ -- Tipalti, the AI-powered platform for finance automation, today announced the acquisition of Statement, an AI-native treasury automation solution. With this addition, Tipalti deepens its treasury offerings with powerful real-time cash intelligence capabilities to enhance cash flow visibility, insights, and forecasting driven by AI. Tipalti continues to accelerate its market leadership by providing a comprehensive suite of finance automation solutions in one platform, designed for mid-market businesses across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management, tax compliance, and treasury. Transforming Treasury with AI Statement transforms traditional treasury operations, equipping finance teams with real-time visibility and control to make better financial decisions. Leveraging advanced AI and machine learning, Statement's solution automates and streamlines the manual processes of cash position visibility, cash flow forecasts, and cash insights across many types of platforms, such as banks, ERPs, billing tools, and databases. With more efficient workflows and timely cash data, finance leaders can optimize working capital, improve liquidity, and ensure forecasts are accurate, resulting in better overall control of cash flow and more informed decision-making. "I am excited to welcome Statement to the global Tipalti team and to accelerate our treasury capabilities with powerful AI innovation for finance teams around the world," said Chen Amit, CEO and Co-founder of Tipalti. "For many global businesses in today's economy, getting complete and instant cash flow visibility across bank accounts, systems, entities, and currencies is very complex. Together, we have a unique opportunity to evolve our customers' treasury operations into a key business driver, empowering them to take control of their cash flow and maintain real-time visibility of their business finances. This addition to our finance automation suite furthers our mission to elevate how finance teams operate in the global economy." "We are thrilled to join a global leader like Tipalti. We have a shared vision for transforming finance operations so our customers can focus on their business," said Idan Vlodinger, CEO and Co-founder at Statement. "Innovating in treasury with AI-driven automation has been our sole focus since day one. Our AI-native solution complements the Tipalti suite with capabilities to help businesses manage cash with ease. With Tipalti's global scale, we will be able to help more customers streamline complex cash management processes, optimize liquidity, and forecast cash flow with more confidence." Transaction Details The deal was signed on June 16, 2025 and is expected to close shortly. Terms of the acquisition were not disclosed. More Information Read more about Tipalti's acquisition of Statement in Chen Amit's blog. About Tipalti Tipalti is the AI-powered platform for finance automation, elevating how finance teams operate in the global economy. We empower our customers to scale faster and smarter by removing the complexities of doing global business and accelerating their finance operations efficiency. Our platform provides a comprehensive suite of finance automation solutions designed for mid-market businesses across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management, tax compliance, and treasury. Tipalti partners with leading financial institutions such as Citi, Wells Fargo, J.P. Morgan, and Visa, enabling over 5,000 global companies to efficiently and securely pay millions of suppliers and payees across 200+ countries and territories, in 120 currencies. For more information, visit About Statement Statement is an AI-powered treasury solution transforming financial operations for global businesses. Seamlessly connecting with banks, ERPs, PSPs, and other financial systems, leveraging advanced AI and machine learning, Statement enriches financial data, automates workflows, and provides real-time visibility into cash positions, dynamic cash flow forecasting, and transaction categorization—all without the need for IT resources. With AI at its core, Statement delivers actionable insights, identifies anomalies, and empowers companies to optimize working capital, improve liquidity performance, and streamline treasury operations.
Yahoo
16-06-2025
- Business
- Yahoo
Reliance Global Submits Request for Withdrawal of Form S-1 Registration Statement
LAKEWOOD, N.J., June 16, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) ('we,' 'us,' 'our' or the 'Company'), today announced that it has filed a request for withdrawal with the Securities and Exchange Commission (the 'SEC') of the Company's Registration Statement on Form S-1 (No. 333-284218), originally filed January 10, 2025 (as amended, the 'Registration Statement'), as the Company no longer intends to pursue a public offering under the Registration Statement at this time. The Registration Statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the Registration Statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company's common stock or any securities, and there shall not be any offer, solicitation or sale of securities mentioned in the press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such any state or jurisdiction. About Reliance Global Group, Inc. Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company's business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company's business-to-consumer platform, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail 'brick and mortar' insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as 'may,' 'should,' 'could,' 'would,' 'will,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'estimate,' 'continue,' 'potential,' and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding: Our future financial condition and operating results; Our plans, objectives, expectations and intentions with respect to future operations, products and services; Our ability to execute the planned withdrawal of the Registration Statement on Form S-1; The development and growth of our RELI Exchange and platforms; The expansion and performance of our portfolio of retail 'brick-and-mortar' insurance agencies; Our ability to maintain compliance with Nasdaq's continued listing requirements; and Other statements identified by the words noted above; These forward-looking statements are based on a number of assumptions, including the assumptions that: we will complete the withdrawal process without unexpected delay; our AI-driven underwriting and cloud-based systems will perform as anticipated; demand for our InsurTech solutions will continue to grow; we will remain in compliance with applicable insurance regulations and Nasdaq listing rules; and there will be no material adverse changes in our relationships with agency partners or service providers. There can be no assurance that these assumptions will prove correct. There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed in these forward-looking statements. These include, among others: delays or failure to complete the withdrawal; inability to execute our growth plans for RELI Exchange or competitive and regulatory challenges faced by our retail agency operations; fluctuations in our stock price or failure to maintain Nasdaq compliance; and the other factors described in the 'Risk Factors' section of our Registration Statement and in other reports we file with the Securities and Exchange Commission. The foregoing list of factors is not exhaustive. You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and the other reports we have filed or will file with the SEC for a more complete discussion of risks and uncertainties. Except as required by law, Reliance Global Group, Inc. disclaims any obligation to update or revise any forward-looking statements, which speak only as of the date of this press release. Contact: Crescendo Communications, LLC Tel: +1 (212) 671-1020 Email: RELI@ in to access your portfolio
