Latest from Lebanon 24
bnok24
24 minutes ago
- Business
- bnok24
Valu Closes its 16th Securitized Bond Issuance, Worth EGP 858.9 Million
Valu, MENA's leading universal financial technology powerhouse, announced today the successful closing of its 16th securitized bond issuance, valued at EGP 858.9 million, in collaboration with EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA). The issuance is the sixth under Valu's EGP 16.0 billion ongoing securitization program The bond is backed by a receivables portfolio assigned to EFG for Securitization, which acts as the special purpose vehicle (SPV) for the issuance. It is a 12-month bond, rated Prime 1 (sf), and carries a fixed interest rate Building on this remarkable momentum, Valu has officially embarked on securing regulatory approval from the Financial Regulatory Authority (FRA) for its highly anticipated new short term multi-issuances securitization program, with a total value of EGP 10.0 billion that will be backed by Valu's portfolios amounting to 13.0 billion for two years. Set to be executed through up to nine issuances. The new program marks a significant milestone in Valu's ambitious growth journey, reinforcing its market leadership and commitment to delivering innovative, market-shaping financial solutions Karim Riad, CFO of Valu, commented, 'Following our commencement of trading on the Egyptian Exchange (EGX), combined with Amazon's transaction, and as part of our continuous expansion, securitizations remain a vital pillar of our financial strategy, enabling us to unlock greater capital efficiency and accelerate our growth trajectory. By leveraging securitizations, we are diversifying our funding base and driving strategic growth. This latest issuance underscores our commitment to fostering innovation and maintaining our position as the preferred fintech partner in Egypt Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, 'This issuance marks another successful chapter in our long-standing partnership with Valu, reflecting our deep commitment to providing dynamic financing solutions that support Egypt's rapidly evolving fintech landscape. Our ability to consistently structure and close high-impact transactions is a testament to the strength of our capital markets franchise and our client-centric approach EFG Hermes acted as the sole financial advisor, sole transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) served as both the underwriter and custodian. Arab Banking Cooperation (ABC) and Industrial Development Bank (IDB) were the subscribers to the issuance. Dreny & Partners acted as the legal advisor, and Baker Tilly as the auditor Google News تابعونا على تابعونا على تطبيق نبض
News24
33 minutes ago
- Business
- News24
Her son got her a spa day, but she just got a refund headache
Julia was gifted a spa voucher from discount platform Hyperli, but after the Roodepoort spa refused to accept it, she was forced into a taxing process to get her refund, turning to Wendy Knowler for help. Cape Town-based online lifestyle platform Hyperli has been selling discounted vouchers for restaurants, spas, adventure activities and travel since 2016. It was from Hyperli that Julia Mdzikwa's son bought her a one-hour pamper spa session last December as a birthday gift, valid for six months. When she tried to redeem it at the Roodepoort spa in late May, its staff refused to accept it, saying that Hyperli was not reimbursing them for treatments. 'I was told to seek a refund from Hyperli,' she told me. 'So, I did, but I got no response to the emails I sent. 'I am caught between two parties, which is unfair.' When I took up the case with Hyperli a few weeks later, I was told: 'The [spa] has not indicated that they are refusing to honour Hyperli vouchers. In fact, we can confirm that voucher redemptions are ongoing, which suggests services are still being provided as expected. 'All payments are currently up to date. 'That said, we will follow up directly with the partner to ensure there are no underlying issues.' Hyperli said the company had asked Mdzikwa to request a refund on her profile but had not had a response. 'The refund would have been processed by now had it been submitted correctly.' It has since been done. 'We can assure you that customer queries are not ignored. We're aware that some customers may experience delays in response times during high-volume periods, but we do our best to resolve all queries as soon as possible,' Hyperli added. A manager at the spa in question confirmed that there had been a recent patch of non-payment by Hyperli, resulting in the spa's refusal to accept their vouchers, but this had all been resolved. *Section 63 of the Consumer Protection Act requires that pre-paid vouchers must be redeemable for up to three years. But with these 'daily deals'-type vouchers, the National Consumer Commission approves a compromise approach. Such vouchers may have relatively short validity periods – three or six months – but if not used in that time, the platform must credit the customer the full value of the voucher, valid for use on another offer for three years from date of purchase. Always check a site's voucher redemption policy before transacting.
News18
33 minutes ago
- Automotive
- News18
Tesla Completes First Self-Driving Delivery To Customer's Home, Elon Musk Reacts
Last Updated: The Tesla Y Model drove itself from the company's Texas factory to the customer's home within 30 minutes by navigating highways, intersections, traffic signals Electric Vehicle (EV) giant Tesla has accomplished its first fully autonomous and driverless car delivery, with a Model Y driving itself to the customer's home. The Tesla Y Model drove itself from the company's Texas factory to the customer's home within 30 minutes by navigating highways, intersections, traffic signals, and city streets entirely on its own. The trip, which took place a day ahead of schedule, was announced by Tesla CEO Elon Musk in a post on X. 'The first fully autonomous delivery of a Tesla Model Y from factory to a customer home across town, including highways, was just completed a day ahead of schedule. There were no people in the car at all and no remote operators in control at any point. FULLY autonomous," Musk said. The first fully autonomous delivery of a Tesla Model Y from factory to a customer home across town, including highways, was just completed a day ahead of schedule!!Congratulations to the @Tesla_AI teams, both software & AI chip design! — Elon Musk (@elonmusk) June 27, 2025 The mega accomplishment was shared online, with Tesla first releasing a three-minute time lapse teaser, followed by a full 30-minute video on June 28. Captured from the back seat, the video, shared by Tesla, showcased Model Y operating entirely on its own, departing from the Gigafactory's parking area. It autonomously and adeptly navigated roads, executed turns, observed stop signs, yielded at red lights, and managed real-time traffic situations without any human input. The Model Y parked itself under the owner's building at the end of the journey. Musk reposted the video on X, with a one-word caption: 'Kapow." Kapow! 💫 — Elon Musk (@elonmusk) June 28, 2025 Tesla's head of AI and Autopilot, Ashok Elluswamy, said the vehicle reached a top speed of 72 miles per hour during the 30-minute journey, Bloomberg reported. Tesla also debuted its robotaxi service in Austin this week. A small group of influencers and investors got rides in self-driving Model Y cars. Musk had hinted at both the robotaxi launch and the self-driving delivery earlier this month on X. He says Tesla plans to have millions of robotaxis on the road in the future. Tesla first showed off this kind of hands-free driving in April, when it posted a video of cars moving from its Texas factory floor to parking lots on their own.
News18
35 minutes ago
- General
- News18
Kerala Lottery Result Today LIVE: Samrudhi SM‑9 Full Winners List For June 29, 2025
KERALA JACKPOT LOTTERY SAMRUDHI SM-9 RESULT FOR SUNDAY, 29.6.2025, LIVE UPDATES: Welcome to the live coverage of the Kerala Jackpot Lottery Samrudhi SM-9 Result for Sunday, June 29, 2025. Organized by the Kerala State Lottery Department, today's draw will take place at 3:00 PM at Gorky Bhavan, near Bakery Junction in Thiruvananthapuram. Participants across the state are eagerly waiting to see if they've struck gold, as the first prize offers a whopping ₹1 crore, followed by ₹25 lakh for the second prize and ₹5 lakh for the third. The draw is conducted under strict supervision to ensure transparency and fairness. We'll bring you live updates, including the full list of winning numbers, prize breakdowns, claiming procedures, and more. Bookmark this page and refresh often to catch the latest announcements as they happen. Good luck to all the hopeful participants!
Dubai Eye
37 minutes ago
- Business
- Dubai Eye
Trump's sweeping tax-cut, spending bill clears first US Senate hurdle
The Republican-controlled US Senate narrowly advanced President Donald Trump's, sweeping tax-cut and spending bill on Saturday, during a marathon weekend session marked by political drama, division and lengthy delays as Democrats sought to slow the legislation's path to passage. Lawmakers voted 51-49 to open debate on the 940-page megabill, with two of Trump's fellow Republicans joining Democrats to oppose the legislation that would fund the president's top immigration, border, tax-cut and military priorities. Trump on social media hailed the "great victory" for his "great, big, beautiful bill." After hours of delay, during which Republican leaders and Vice President JD Vance worked behind closed doors to persuade last-minute holdouts to support the measure, Democrats demanded that the megabill first be read aloud in the chamber - a task that could delay the start of the debate until Sunday afternoon. Democrats say the bill's tax cuts would disproportionately benefit the wealthy at the expense of social programs for lower-income Americans. "Senate Republicans are scrambling to pass a radical bill, released to the public in the dead of night, praying the American people don't realise what's in it," Senate Democratic leader Chuck Schumer said on the Senate floor. "Democrats are going to force this chamber to read it from start to finish," he said. Once the bill has been read, lawmakers will begin up to 20 hours of debate on the legislation. That will be followed by a marathon amendment session, known as a "vote-a-rama," before the Senate votes on passage. Lawmakers said they hoped to complete work on the bill on Monday. Republican Senators Thom Tillis and Rand Paul voted against opening debate, a move that seemed for a time to be in danger of failing. Trump attacked Tillis, who opposed the bill's cuts to the Medicaid healthcare program for lower-income Americans, which he said would be devastating for his native North Carolina. Tillis is up for reelection next year. "Numerous people have come forward wanting to run in the Primary against 'Senator Thom' Tillis. I will be meeting with them over the coming weeks," the president posted. Paul opposed the legislation because it would raise the federal borrowing limit on the $36.2 trillion US debt by an additional $5 trillion. "Did Rand Paul Vote 'NO' again tonight? What's wrong with this guy???" Trump said on social media. IN LIMBO Saturday's vote was in limbo for hours as Vance, Senate Majority Leader John Thune and other top Republicans sought to persuade last-minute holdouts to support the legislation. It was not clear what deals if any were struck to win over their support. Hardline Republican Senators Rick Scott, Mike Lee and Cynthia Lummis, who want deeper cuts in federal spending, voted to support the bill in the end. Another hardliner, Senator Ron Johnson, initially voted no but flipped his vote and backed the legislation. Trump was monitoring the vote from the Oval Office late into the night, a senior White House official said. The megabill would extend the 2017 tax cuts that were Trump's main legislative achievement during his first term as president, cut other taxes and boost spending on the military and border security. The nonpartisan Joint Tax Committee released an analysis projecting that the Senate bill's tax provisions would reduce government revenue by $4.5 trillion over the next decade, increasing the $36.2-trillion US government debt. The White House said this month the legislation would reduce the annual deficit by $1.4 trillion. The world's richest person, Elon Musk, also took a swipe at the bill, which would end tax breaks for the electric vehicles that his automaker Tesla manufactures. Calling the bill "utterly insane and destructive," he risked reigniting a feud with Trump that raged earlier this month, before Musk backed down from his rhetoric. "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!" Musk wrote in a post on his social media platform X. MEDICAID CHANGES Republicans from states with large rural populations have opposed a reduction in state tax revenue for Medicaid providers, including rural hospitals. The newly released legislation would delay that reduction and would include $25 billion to support rural Medicaid providers from 2028 to 2032. The legislation would raise the cap on federal deductions for state and local taxes to $40,000 with an annual 1% inflation adjustment through 2029, after which it would fall back to the current $10,000. The bill would also phase the cap down for those earning more than $500,000 a year. That is a major concern of House Republicans from coastal states, including New York, New Jersey and California, who play an important role in keeping the party's narrow House majority. Republicans are using a legislative maneuver to bypass the Senate's 60-vote threshold to advance most legislation in the 100-member chamber. Democrats will focus their firepower with amendments aimed at reversing Republican spending cuts to programs that provide government-backed healthcare to the elderly, poor and disabled, as well as food aid to low-income families. The bill also would raise the Treasury Department's debt ceiling by trillions of dollars to stave off a potentially disastrous default on the nation's debt in the coming months. If the Senate passes the bill, it will then return to the House of Representatives for final passage before Trump can sign it into law. The House passed its version of the bill last month.
