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TAMPA, Fla. (AP) — Bucky Irving isn’t choosy. The rookie running back relishes any opportunity he gets to contribute to the success of the Tampa Bay Buccaneers, who have rebounded from a tough stretch to climb back into a tie for first place in the NFC South. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a week
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Creating some of the most memorable monsters in gaming can't be easy, but Capcom seems to nail it time and time again with its Monster Hunter series. Really, these fearsome beasts are the star of the show, but it's not just their designs that catch the eye — it's the way they move, the way they're so deliberately animated. Capcom actually uses motion capture as a basis for its creatures, which results in some truly fascinating behind-the-scenes footage. It just doesn't get much better than seeing a motion capture actor get down on all fours are roar towards the sky (and yes, they really do roar). A quick video from PlayStation Access perfectly sells the process. It shows some previously unseen motion capture performances for Monster Hunter Wilds , and it's a thoroughly entertaining watch. Capcom's dedication to motion capturing Monster Hunter's often absurd animations is commendable — and it's worth pointing out that the company's spent a lot of money on state-of-the-art studios and technology. Last year, Capcom opened a huge motion capture studio in Osaka, Japan, and we're pretty sure it's the same studio that you can see in the above video.GOTHENBURG, Sweden , Dec. 23, 2024 /PRNewswire/ -- Stena RoRo has taken delivery of E-Flexer No. 12 - in a series of 15 vessels - from the Chinese shipyard CMI Jinling (Weihai). The ship is the Guillaume de Normandie and is long-term chartered to the French shipping company Brittany Ferries. In April next year, the ship will enter service on the Portsmouth - Caen route, replacing the Normandie, which has sailed the route since 1992. This is the fifth of five ordered E-Flexer vessels for the Brittany Ferries fleet. Just as with four of the five E-Flexer ships that Stena RoRo has delivered to Brittany Ferries, the vessel will be powered by multi-fuel engines as well as the market's largest battery-hybrid package of 12 MWh. With these batteries, the ship will be able to operate in and out of port solely on battery power and even maneuver when docking and undocking without using the ship's diesel engines. This is a unique technical solution that provides significantly lower CO2 emissions for the ship. The E-Flexer concept has been continuously developed in line with future environmental requirements, and through its technical design and high degree of innovation, it can fulfill and exceed both existing and future international requirements. The Guillaume de Normandie is also equipped with a shore connection with an output of 8 MW for high-speed charging of the batteries, which also enables a completely fossil-free stay when in port. With the installed battery capacity, the vessel can operate at speeds of up to 17.5 knots on batteries alone. The ship's engines can be powered by marine diesel (MGO), liquefied natural gas (LNG), biodiesel or biogas. In addition, the PTI/PTO system with the Battery Power function can be used for propulsion at sea or maneuvering in port. The system is scalable, which means that in the future, the Guillaume de Normandie can operate entirely on batteries or with a combination of the different fuels. The ship's modern interior (designed by Figura Arkitekter AB) has been especially created for the current route and with clear influences from Normandy. The ship is certified for 1300 passengers along with 2410 lane meters of cargo, whereof 176 lane meters for personal cars. The E-Flexer series is based on a basic concept with vessels larger than most existing RoPax ferries and features a highly flexible design. Each ship is tailored to customers' needs, both commercially and technically. An optimized design of the hull, propellers and rudders along with opportunities to incorporate new environmentally friendly technology contribute to the E-Flexer vessels being at the absolute forefront in terms of sustainability and performance as well as cost and energy efficiency. "It is with great satisfaction and pride that we have now taken delivery of the twelfth E-Flexer vessel in the series," says Stena RoRo AB Managing Director Per Westling . "Within the framework of the E-Flexer concept, there has been continuous technical development and we can offer our customers flexible and future-proof propulsion systems that by a wide margin meet both today's and future environmental requirements. The large battery hybrid system we installed on the Guillaume de Normandie means that the ship can operate optimally, in step with regulatory developments, or in accordance with the operator's own policies." The Guillaume de Normandie is chartered to Brittany Ferries for 10 years. The total of five E-Flexer ships ordered by Brittany Ferries are renewing and modernizing the company's current fleet of cargo and passenger ships. The first ferry, the Galicia , was delivered in the autumn of 2020, the second in November 2021 , the third in December 2023 . The Saint-Malo was delivered in October 2024 , which is the fourth vessel in the series, and the Guillaume de Normandie in December 2024 , the fifth and final ship. Stena RoRo currently has 15 confirmed orders at CMI Jinling, Weihai shipyard for E-Flexer vessels, as well as two orders for New Max RoRo vessels. Twelve vessels have now been delivered. Stena E-Flexer orders: 1. Stena Line : Stena Line network in the Irish Sea; delivered in 2019 2. Stena Line ; Stena Line's network in the Irish Sea, delivered in 2020 3. Brittany Ferries: Brittany Ferries network; delivered in 2020 Long-term charter agreement 4. Stena Line : Stena Line network in the Irish Sea; delivered in 2021 5. DFDS; DFDS network; delivered in 2021 Long-term charter agreement 6. Brittany Ferries: Brittany Ferries network; delivery 2021 Long-term charter agreement; LNG operation 7. Stena Line ; Stena Line network, delivered from the shipyard in May 2022 Extended version 8. Stena Line ; Stena Line's network, delivered from the shipyard in September 2022 Extended version 9. Brittany Ferries: Brittany Ferries network; delivered in December 2022 Long-term charter agreement, LNG operation 10. Marine Atlantic; Marine Atlantic network, delivered in February 2024 Long charter agreement; LNG operation with battery-hybrid installation 11. Brittany Ferries: Brittany Ferries network, delivered in 2024 Long charter agreement; LNG operation with battery-hybrid installation 12. Brittany Ferries: Brittany Ferries network, delivered in 2024 Long charter agreement; LNG operation with battery-hybrid installation 13. Corsica Linea, Corsica Linea network, delivery 2026 LNG operation with battery-hybrid installation 14. Attica Group, delivery April 2027 Methanol-ready, battery-hybrid installation 15. Attica Group, delivery August 2027 Methanol-ready, battery-hybrid installation E-Flexer No. 12 specifications for Brittany Ferries: Length: 194.7 m Draught: 6.5 m Beam: 27.8 m Capacity: 1300 passengers and 2410 lane meters, of which 176 lane meters are intended for automobiles Passenger cabins: 222 distributed over four decks Speed: 23 knots (17.5 on batteries only Photos: CMJS Shipyard Captions: For more information, please contact: Per Westling , Managing Director, Stena RoRo AB Tel: +46 31 855154; +46 704 85 51 54 Email: [email protected] Since 1977, Stena RoRo has led development of new marine RoRo, cargo and passenger concepts. We provide custom-built vessels, as well as standardized RoRo and RoPax vessels. The company leases about fifteen vessels to operators worldwide, both other Stena companies and third parties. Stena RoRo specializes above all in using its technical expertise for the design and production of new vessels and the conversion and technical operation of existing vessels in order to deliver tailor-made transport solutions to its customers. We call this "Stenability". Since 2013, we have had responsibility for the design and completion of Mercy Ships' new hospital vessel the Global Mercy – the world's largest civilian hospital ship. The ship was delivered in 2021. www.stenaroro.com Brittany Ferries is a French ferry company and tour operator based in Roscoff, France . The company was founded by an agricultural cooperative in Breton for exporting vegetables to the UK. The first ferry voyage was from Roscoff to Plymoth on January 2, 1972 , the day after the UK joined the EEC – the European Economic Community, the predecessor to the EU. The cargo consisted of artichokes and cauliflower. The company quickly expanded with more ships and routes when it became clear that the biggest market was British tourists who wanted to explore Brittany and later Normandy as well. Brittany Ferries presently operates 14 routes connecting France , Great Britain , Spain and Ireland . In a normal year, the company has sales of approximately 450 million Euros and transports approximately 2.5 million passengers and 205,000 freight units. The company is still largely owned by French farmers, supported by the regions of Brittany and Normandy, and prides itself on being the largest employer of seafarers in France . www.brittanyferries.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/stena-roro/r/stena-roro-takes-delivery-of-the-battery-hybrid-vessel-guillaume-de-normandie,c4086104 The following files are available for download:
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The Colombo Stock Exchange (CSE) announces changes to the S&P Sri Lanka 20 index constituents as part of the 2024 Year-End Rebalance, conducted by S&P Dow Jones Indices. The exclusions and inclusions, as announced by S&P Dow Jones Indices, will take effect from December 23, 2024, following the market close on December 20, 2024. The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, which is employed to reduce single stock concentration. The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world. To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of Rs.500 million, six-month median daily value traded of Rs. 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, More details could be obtained from: www.spindices.com
After the recent discovery of a destructive mussel in the Sacramento-San Joaquin River Delta, some experts say California officials have failed to effectively enforce laws designed to protect waterways from invaders carried in ships’ ballast water. A state law enacted 20 years ago has required California officials to inspect 25% of incoming ships and sample their ballast water before it’s discharged into waterways. But the tests didn’t begin until two years ago — after standards for conducting them were finally set — and testing remains rare. State officials have sampled the ballast water of only 16 vessels out of the roughly 3,000 likely to have emptied their tanks nearshore. Experts say stronger regulations are needed, as well as better enforcement. “It’s not really a surprise that another invasive species showed up in the Delta,” said Karrigan Börk, a law professor and the interim director of the UC Davis Center for Watershed Sciences. “It’s likely to continue happening.” Native to eastern Asia, the mussels — detected near the Port of Stockton, in a small San Joaquin Valley reservoir and several other Delta locations — were the first to be detected in North America. If the mollusc evades eradication efforts, it could spread over vast areas of California and beyond, crowd out native species and clog parts of the massive projects that export Delta water to cities and farms. Ted Lempert, a former Bay Area Assemblymember who authored a 1999 state law aimed at preventing ships from bringing invasive species into California, said state officials “apparently took their eyes off the ball.” “We were trying to get ahead of the game, so I’m really frustrated that after all these years some of the events we were trying to prevent have come to pass,” he said. But the prospect of an invasive species colonizing a new region frequented by ships “is a numbers game” that can happen even under the most rigorous regulations and enforcement, said Greg Ruiz, a marine ecologist with the Marine Invasions Research Laboratory at the Smithsonian Environmental Research Center. “This is not a failure in the system,” he said. Ballast water is stored in tanks to stabilize vessels at sea. Often taken on at the port of departure and released at the port of arrival, it is a global vector of invasive species, including pathogens that cause human diseases. To address the threat to ecosystems and water supplies, the State Lands Commission, the U.S. Environmental Protection Agency and the U.S. Coast Guard enforce a suite of overlapping regulations. The goal of these state and federal rules is to reduce as much as possible the number of living organisms in discharged ballast water. Vessel operators can achieve this by exposing their ballast water to ultraviolet light, filtering it and treating it with chlorine, which is then removed before discharge. About 1,500 ships a year entering California waters release ballast water, according to Chris Scianni, environmental program manager of the State Lands Commission’s Marine Invasive Species Program. To check for compliance, officials board and inspect nearly all of them, plus another thousand vessels prioritized for inspection for other reasons, Scianni said. During these inspections, officers review ballast water logbooks and reporting forms, interview crew members, inspect water treatment equipment, and occasionally take water samples for testing. “We’re the only entity in the world that’s doing this right now,” Scianni said. A 2003 state law declares that the State Lands Commission “shall take samples of ballast water, sediment, and biofouling from at least 25% of vessels” subject to invasive species regulations. But commission officials told CalMatters they interpret it to mean that 25% of ships must be inspected, with no specific requirements for sampling. Sampling for some ships began in 2023, after the commission enacted standards for how the tests are conducted. It’s a considerable endeavor : A cubic meter of water — which weighs a metric ton — must be collected from a ship. It can take an hour to draw, and it must be done while the vessel is actively discharging. Hours more may pass before results are ready. Federal officials have their own ballast oversight program. It leans on a system of self-reporting by vessel operators — which critics consider a weak tool for ensuring compliance. An EPA spokesperson said the agency “can assess compliance with (the rules) either through a desk audit or an on-site inspection.” Many experts told CalMatters that the state and federal limits on how many organisms are allowed in discharged water are adequate but that enforcement is lacking. “We had the highest (ballast water management) standards in the world, but they were never actually enforced because the state couldn’t come up with a set of technologies to implement them,” said Ben Eichenberg, a staff attorney with the group SF Baykeeper. Ted Grosholz, a professor emeritus with the UC Davis Coastal and Marine Sciences Institute said “the standards are very exacting...The problem we have is compliance. How many ships coming in with ballast water can we really sample and verify? Enforcement officials can’t watch everyone.” Smithsonian’s Ruiz said state records show that all documented ballast discharges at the Port of Stockton since 2008 have followed state regulations. Ships that discharge, however, occasionally remain uninspected as they enter a port. And some vessel operators may cheat, filling their ballast tanks with clean ocean water to pass off a faulty water treatment system as functional. Moreover, even treated ballast water can contain high levels of zooplankton. Ruiz, who has studied California’s data on ship arrival and locations of the mussels, said it’s probable the golden mussel entered the Delta at least a year ago and even possible that it’s been there for a decade or more, adding that “it could even have happened in the pre-treatment (of ballast water) era.” Somehow, the creature slipped through the cracks and made itself a new home in what has been called one of the most invaded estuaries on the planet. It’s an outcome that Lempert as an assemblymember tried to prevent a quarter-century ago, when he authored the Ballast Water Management for Control of Non-indigenous Species Act . The law required incoming vessels to either retain their ballast water, drain it while simultaneously refilling with new water hundreds of miles out at sea, or use an “environmentally sound” treatment system. It tasked the California State Lands Commission with monitoring vessels for compliance. California has since enacted a complex system of regulations: In 2003, the Marine Invasive Species Act expanded the scope of Lempert’s legislation. Three years later, the Legislature required the commission to set limits on organism concentrations in ballast water; these “ standards of performance ” were implemented in 2022. While the standards allow minute levels of organisms in the water, the goal is “zero detectable living organisms” by 2040. Several federal laws also aim to protect U.S. waters from creatures like the golden mussel. Penalties for breaking ballast management rules have been modest. At the state level, violations have resulted in 24 fines in the past six years, totaling just over $1 million. Federal fines are rare, with just nine penalties issued amounting to about $714,000 in the EPA’s Pacific Southwest region since 2013. Commission officials said “the frequency of noncompliant discharges ... has dropped dramatically since our enforcement regulations (with penalties) were adopted in 2017.” California officials say achieving the law’s goal of zero organisms in ballast water discharged into waterways is infeasible. It would require a network of treatment plants at coastal ports, costing $1.45 billion over 30 years. The shipping industry would face another $2.17 billion in costs for installing systems capable of transferring ballast water to the floating treatment plants. But Eichenberg said some ships already use commercially available systems that consistently, and by a wide margin, outperform industry standards. He said the state’s failure to require that vessels use the most advanced treatment systems available — technology capable of nearly sterilizing ballast water — has culminated in the golden mussel’s arrival. “Something like this was bound to happen eventually,” he said. State and federal performance standards — modeled after international standards — limit the concentration of living zooplankton-sized organisms, like mussel larvae, in ballast water before discharge to 10 per cubic meter. For smaller organisms, allowances are higher. But even in ballast water that has undergone treatment in approved systems, zooplankton concentrations can be off-the-charts for reasons not always clear, according to Hugh MacIsaac, an aquatic invasive species researcher at the University of Windsor in Ontario, who has studied the spread of the golden mussel in South America and central China. Treating ballast water doesn’t necessarily work. A study in Shanghai found up to 23,000 zooplankton-sized organisms per cubic meter in the ballast water of half of ships sampled, MacIsaac said. Ruiz, at the Smithsonian research center, said the study’s sample size of 17 ships is too small to be representative and that such high concentrations are abnormal in the United States. “We sample vessels here, and that’s not what we see coming into the U.S.,” he said. Ship operators have shifted radically in the past 20 years “from no management to a nearly complete use of open-ocean exchange to, now, an almost complete transition to ballast treatment technology,” Ruiz said. The federal government, not state agencies, will soon become the key player in ballast management. That’s because new EPA rules, which are likely at least 18 months away from full implementation, will preempt state regulations. The new rules — which state officials will help enforce — will keep the existing standards for organism concentrations, but prevent states from implementing their own rules that exceed federal standards. For example, California’s goal of zero detectable organisms in ballast discharge will be nixed. Nicole Dobrosky, the State Lands Commission’s chief of environmental science, planning and management, said states can petition the federal government for changes to the rules. Shippers welcome the shift to national rules that align with international standards, said Jacqueline Moore, Long Beach-based vice president of the Pacific Merchant Shipping Association . “An international industry by nature, the maritime community always appreciates consistent standards across the board, and across the ocean in this case,” Moore said. “It’s much easier for everyone.” But the change of regulatory oversight concerns Marcie Keever, the oceans and vessels program director with Friends of the Earth. She said that to date the State Lands Commission has been the more active enforcer. Preempting state laws with federal standards that she says are too weak “will essentially give the shipping industry a free pass to pollute...These shipping companies are self-reporting pollution instances, and no one is doing anything about it except for the state.” In 1973, the EPA exempted ballast water from the Clean Water Act. Eventually forced by court rulings to comply with the act, the agency released its newest standards in October for limiting organism concentrations in ballast water. Keever said the EPA is not setting the bar as high as it should. “We’re still basically at the same place we were at 20 years ago,” Keever said. “The EPA has never set what we see as the best available technology for ballast water discharges.” More than 150 environmental groups made similar claims in a 2022 letter to President Joe Biden, arguing that the technology exists now to almost entirely sterilize ballast water. “[W]e have the technical ability to efficiently remove or kill organisms that are trapped in a tank of water,” they wrote. “For half a century federal law has required EPA to use that ability to protect the environment and public health — yet EPA still refuses to do so.” The EPA disagrees with the criticism. Joshua Alexander, press officer with the agency’s Region 9 San Francisco office, told CalMatters that “the EPA concluded that these standards (in the new rules) are the most stringent ones that the available ballast water test data can support.” October’s discovery of the golden mussel in California is being treated urgently by state and federal officials. The creatures have wreaked havoc on water supply and hydroelectric facilities in South America, and they are spreading rapidly through central China. In the Great Lakes, invasive zebra mussels cause $300 to $500 million in damages annually to power plants and other water infrastructure — the types of impacts officials in California hope to avoid. Tanya Veldhuizen, the Department of Water Resources’ special projects section manager, said officials are considering the use of chemicals to remove the creatures from pumps, intakes and pipelines of the massive State Water Project, which transports water to farms and cities. Several scientists told CalMatters that with most nonnative species, eradication is only possible early in the game — meaning management officials often have one shot at success. Biologist Andrew Chang, who works at the Smithsonian research center’s Marin County field lab, noted an old adage in invasion ecology — containing the spread of a nonnative species is like trying to put toothpaste back into a tube. “The more time that passes, the process of putting the toothpaste back in the tube gets messier and messier,” Chang said. University of Windsor’s MacIsaac thinks California may be on the cusp of an unstoppable mussel invasion. “This is an enormous problem for your state,” he said.
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In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. --- In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. --- In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. ---Ono Enters into Drug Discovery Collaboration Agreement with Congruence Therapeutics to Generate Novel Small Molecule Correctors in the Oncology Area
NEW YORK , Nov. 30, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of iLearningEngines, Inc. (NASDAQ: AILE) between April 22, 2024 and August 28, 2024 , both dates inclusive (the "Class Period"), of t the important December 6, 2024 lead plaintiff deadline. So what: If you purchased iLearningEngines securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the iLearningEngines class action, go to https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) iLearningEngines' "Technology Partner" was an undisclosed related party; (2) iLearningEngines used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) as a result of the foregoing, iLearningEngines significantly overstated its revenue; and (4) as a result of the foregoing, defendants' positive statements about iLearningEngines' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the iLearningEngines class action, go to https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aile-deadline-aile-investors-have-opportunity-to-lead-ilearningengines-inc-securities-fraud-lawsuit-302318967.html SOURCE THE ROSEN LAW FIRM, P. A.Jon Stewart mocks 'the dance Democrats have to do' after Hunter Biden pardon
TAMPA, Fla. (AP) — Bucky Irving isn’t choosy. The rookie running back relishes any opportunity he gets to contribute to the success of the Tampa Bay Buccaneers, who have rebounded from a tough stretch to climb back into a tie for first place in the NFC South. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a week
NoneTXNM Energy Increases Common DividendHyperscale Data, Inc. Announces Notice of Noncompliance with NYSE American Listing StandardsWhite House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign
Creating some of the most memorable monsters in gaming can't be easy, but Capcom seems to nail it time and time again with its Monster Hunter series. Really, these fearsome beasts are the star of the show, but it's not just their designs that catch the eye — it's the way they move, the way they're so deliberately animated. Capcom actually uses motion capture as a basis for its creatures, which results in some truly fascinating behind-the-scenes footage. It just doesn't get much better than seeing a motion capture actor get down on all fours are roar towards the sky (and yes, they really do roar). A quick video from PlayStation Access perfectly sells the process. It shows some previously unseen motion capture performances for Monster Hunter Wilds , and it's a thoroughly entertaining watch. Capcom's dedication to motion capturing Monster Hunter's often absurd animations is commendable — and it's worth pointing out that the company's spent a lot of money on state-of-the-art studios and technology. Last year, Capcom opened a huge motion capture studio in Osaka, Japan, and we're pretty sure it's the same studio that you can see in the above video.GOTHENBURG, Sweden , Dec. 23, 2024 /PRNewswire/ -- Stena RoRo has taken delivery of E-Flexer No. 12 - in a series of 15 vessels - from the Chinese shipyard CMI Jinling (Weihai). The ship is the Guillaume de Normandie and is long-term chartered to the French shipping company Brittany Ferries. In April next year, the ship will enter service on the Portsmouth - Caen route, replacing the Normandie, which has sailed the route since 1992. This is the fifth of five ordered E-Flexer vessels for the Brittany Ferries fleet. Just as with four of the five E-Flexer ships that Stena RoRo has delivered to Brittany Ferries, the vessel will be powered by multi-fuel engines as well as the market's largest battery-hybrid package of 12 MWh. With these batteries, the ship will be able to operate in and out of port solely on battery power and even maneuver when docking and undocking without using the ship's diesel engines. This is a unique technical solution that provides significantly lower CO2 emissions for the ship. The E-Flexer concept has been continuously developed in line with future environmental requirements, and through its technical design and high degree of innovation, it can fulfill and exceed both existing and future international requirements. The Guillaume de Normandie is also equipped with a shore connection with an output of 8 MW for high-speed charging of the batteries, which also enables a completely fossil-free stay when in port. With the installed battery capacity, the vessel can operate at speeds of up to 17.5 knots on batteries alone. The ship's engines can be powered by marine diesel (MGO), liquefied natural gas (LNG), biodiesel or biogas. In addition, the PTI/PTO system with the Battery Power function can be used for propulsion at sea or maneuvering in port. The system is scalable, which means that in the future, the Guillaume de Normandie can operate entirely on batteries or with a combination of the different fuels. The ship's modern interior (designed by Figura Arkitekter AB) has been especially created for the current route and with clear influences from Normandy. The ship is certified for 1300 passengers along with 2410 lane meters of cargo, whereof 176 lane meters for personal cars. The E-Flexer series is based on a basic concept with vessels larger than most existing RoPax ferries and features a highly flexible design. Each ship is tailored to customers' needs, both commercially and technically. An optimized design of the hull, propellers and rudders along with opportunities to incorporate new environmentally friendly technology contribute to the E-Flexer vessels being at the absolute forefront in terms of sustainability and performance as well as cost and energy efficiency. "It is with great satisfaction and pride that we have now taken delivery of the twelfth E-Flexer vessel in the series," says Stena RoRo AB Managing Director Per Westling . "Within the framework of the E-Flexer concept, there has been continuous technical development and we can offer our customers flexible and future-proof propulsion systems that by a wide margin meet both today's and future environmental requirements. The large battery hybrid system we installed on the Guillaume de Normandie means that the ship can operate optimally, in step with regulatory developments, or in accordance with the operator's own policies." The Guillaume de Normandie is chartered to Brittany Ferries for 10 years. The total of five E-Flexer ships ordered by Brittany Ferries are renewing and modernizing the company's current fleet of cargo and passenger ships. The first ferry, the Galicia , was delivered in the autumn of 2020, the second in November 2021 , the third in December 2023 . The Saint-Malo was delivered in October 2024 , which is the fourth vessel in the series, and the Guillaume de Normandie in December 2024 , the fifth and final ship. Stena RoRo currently has 15 confirmed orders at CMI Jinling, Weihai shipyard for E-Flexer vessels, as well as two orders for New Max RoRo vessels. Twelve vessels have now been delivered. Stena E-Flexer orders: 1. Stena Line : Stena Line network in the Irish Sea; delivered in 2019 2. Stena Line ; Stena Line's network in the Irish Sea, delivered in 2020 3. Brittany Ferries: Brittany Ferries network; delivered in 2020 Long-term charter agreement 4. Stena Line : Stena Line network in the Irish Sea; delivered in 2021 5. DFDS; DFDS network; delivered in 2021 Long-term charter agreement 6. Brittany Ferries: Brittany Ferries network; delivery 2021 Long-term charter agreement; LNG operation 7. Stena Line ; Stena Line network, delivered from the shipyard in May 2022 Extended version 8. Stena Line ; Stena Line's network, delivered from the shipyard in September 2022 Extended version 9. Brittany Ferries: Brittany Ferries network; delivered in December 2022 Long-term charter agreement, LNG operation 10. Marine Atlantic; Marine Atlantic network, delivered in February 2024 Long charter agreement; LNG operation with battery-hybrid installation 11. Brittany Ferries: Brittany Ferries network, delivered in 2024 Long charter agreement; LNG operation with battery-hybrid installation 12. Brittany Ferries: Brittany Ferries network, delivered in 2024 Long charter agreement; LNG operation with battery-hybrid installation 13. Corsica Linea, Corsica Linea network, delivery 2026 LNG operation with battery-hybrid installation 14. Attica Group, delivery April 2027 Methanol-ready, battery-hybrid installation 15. Attica Group, delivery August 2027 Methanol-ready, battery-hybrid installation E-Flexer No. 12 specifications for Brittany Ferries: Length: 194.7 m Draught: 6.5 m Beam: 27.8 m Capacity: 1300 passengers and 2410 lane meters, of which 176 lane meters are intended for automobiles Passenger cabins: 222 distributed over four decks Speed: 23 knots (17.5 on batteries only Photos: CMJS Shipyard Captions: For more information, please contact: Per Westling , Managing Director, Stena RoRo AB Tel: +46 31 855154; +46 704 85 51 54 Email: [email protected] Since 1977, Stena RoRo has led development of new marine RoRo, cargo and passenger concepts. We provide custom-built vessels, as well as standardized RoRo and RoPax vessels. The company leases about fifteen vessels to operators worldwide, both other Stena companies and third parties. Stena RoRo specializes above all in using its technical expertise for the design and production of new vessels and the conversion and technical operation of existing vessels in order to deliver tailor-made transport solutions to its customers. We call this "Stenability". Since 2013, we have had responsibility for the design and completion of Mercy Ships' new hospital vessel the Global Mercy – the world's largest civilian hospital ship. The ship was delivered in 2021. www.stenaroro.com Brittany Ferries is a French ferry company and tour operator based in Roscoff, France . The company was founded by an agricultural cooperative in Breton for exporting vegetables to the UK. The first ferry voyage was from Roscoff to Plymoth on January 2, 1972 , the day after the UK joined the EEC – the European Economic Community, the predecessor to the EU. The cargo consisted of artichokes and cauliflower. The company quickly expanded with more ships and routes when it became clear that the biggest market was British tourists who wanted to explore Brittany and later Normandy as well. Brittany Ferries presently operates 14 routes connecting France , Great Britain , Spain and Ireland . In a normal year, the company has sales of approximately 450 million Euros and transports approximately 2.5 million passengers and 205,000 freight units. The company is still largely owned by French farmers, supported by the regions of Brittany and Normandy, and prides itself on being the largest employer of seafarers in France . www.brittanyferries.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/stena-roro/r/stena-roro-takes-delivery-of-the-battery-hybrid-vessel-guillaume-de-normandie,c4086104 The following files are available for download:
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The Colombo Stock Exchange (CSE) announces changes to the S&P Sri Lanka 20 index constituents as part of the 2024 Year-End Rebalance, conducted by S&P Dow Jones Indices. The exclusions and inclusions, as announced by S&P Dow Jones Indices, will take effect from December 23, 2024, following the market close on December 20, 2024. The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, which is employed to reduce single stock concentration. The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world. To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of Rs.500 million, six-month median daily value traded of Rs. 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, More details could be obtained from: www.spindices.com
After the recent discovery of a destructive mussel in the Sacramento-San Joaquin River Delta, some experts say California officials have failed to effectively enforce laws designed to protect waterways from invaders carried in ships’ ballast water. A state law enacted 20 years ago has required California officials to inspect 25% of incoming ships and sample their ballast water before it’s discharged into waterways. But the tests didn’t begin until two years ago — after standards for conducting them were finally set — and testing remains rare. State officials have sampled the ballast water of only 16 vessels out of the roughly 3,000 likely to have emptied their tanks nearshore. Experts say stronger regulations are needed, as well as better enforcement. “It’s not really a surprise that another invasive species showed up in the Delta,” said Karrigan Börk, a law professor and the interim director of the UC Davis Center for Watershed Sciences. “It’s likely to continue happening.” Native to eastern Asia, the mussels — detected near the Port of Stockton, in a small San Joaquin Valley reservoir and several other Delta locations — were the first to be detected in North America. If the mollusc evades eradication efforts, it could spread over vast areas of California and beyond, crowd out native species and clog parts of the massive projects that export Delta water to cities and farms. Ted Lempert, a former Bay Area Assemblymember who authored a 1999 state law aimed at preventing ships from bringing invasive species into California, said state officials “apparently took their eyes off the ball.” “We were trying to get ahead of the game, so I’m really frustrated that after all these years some of the events we were trying to prevent have come to pass,” he said. But the prospect of an invasive species colonizing a new region frequented by ships “is a numbers game” that can happen even under the most rigorous regulations and enforcement, said Greg Ruiz, a marine ecologist with the Marine Invasions Research Laboratory at the Smithsonian Environmental Research Center. “This is not a failure in the system,” he said. Ballast water is stored in tanks to stabilize vessels at sea. Often taken on at the port of departure and released at the port of arrival, it is a global vector of invasive species, including pathogens that cause human diseases. To address the threat to ecosystems and water supplies, the State Lands Commission, the U.S. Environmental Protection Agency and the U.S. Coast Guard enforce a suite of overlapping regulations. The goal of these state and federal rules is to reduce as much as possible the number of living organisms in discharged ballast water. Vessel operators can achieve this by exposing their ballast water to ultraviolet light, filtering it and treating it with chlorine, which is then removed before discharge. About 1,500 ships a year entering California waters release ballast water, according to Chris Scianni, environmental program manager of the State Lands Commission’s Marine Invasive Species Program. To check for compliance, officials board and inspect nearly all of them, plus another thousand vessels prioritized for inspection for other reasons, Scianni said. During these inspections, officers review ballast water logbooks and reporting forms, interview crew members, inspect water treatment equipment, and occasionally take water samples for testing. “We’re the only entity in the world that’s doing this right now,” Scianni said. A 2003 state law declares that the State Lands Commission “shall take samples of ballast water, sediment, and biofouling from at least 25% of vessels” subject to invasive species regulations. But commission officials told CalMatters they interpret it to mean that 25% of ships must be inspected, with no specific requirements for sampling. Sampling for some ships began in 2023, after the commission enacted standards for how the tests are conducted. It’s a considerable endeavor : A cubic meter of water — which weighs a metric ton — must be collected from a ship. It can take an hour to draw, and it must be done while the vessel is actively discharging. Hours more may pass before results are ready. Federal officials have their own ballast oversight program. It leans on a system of self-reporting by vessel operators — which critics consider a weak tool for ensuring compliance. An EPA spokesperson said the agency “can assess compliance with (the rules) either through a desk audit or an on-site inspection.” Many experts told CalMatters that the state and federal limits on how many organisms are allowed in discharged water are adequate but that enforcement is lacking. “We had the highest (ballast water management) standards in the world, but they were never actually enforced because the state couldn’t come up with a set of technologies to implement them,” said Ben Eichenberg, a staff attorney with the group SF Baykeeper. Ted Grosholz, a professor emeritus with the UC Davis Coastal and Marine Sciences Institute said “the standards are very exacting...The problem we have is compliance. How many ships coming in with ballast water can we really sample and verify? Enforcement officials can’t watch everyone.” Smithsonian’s Ruiz said state records show that all documented ballast discharges at the Port of Stockton since 2008 have followed state regulations. Ships that discharge, however, occasionally remain uninspected as they enter a port. And some vessel operators may cheat, filling their ballast tanks with clean ocean water to pass off a faulty water treatment system as functional. Moreover, even treated ballast water can contain high levels of zooplankton. Ruiz, who has studied California’s data on ship arrival and locations of the mussels, said it’s probable the golden mussel entered the Delta at least a year ago and even possible that it’s been there for a decade or more, adding that “it could even have happened in the pre-treatment (of ballast water) era.” Somehow, the creature slipped through the cracks and made itself a new home in what has been called one of the most invaded estuaries on the planet. It’s an outcome that Lempert as an assemblymember tried to prevent a quarter-century ago, when he authored the Ballast Water Management for Control of Non-indigenous Species Act . The law required incoming vessels to either retain their ballast water, drain it while simultaneously refilling with new water hundreds of miles out at sea, or use an “environmentally sound” treatment system. It tasked the California State Lands Commission with monitoring vessels for compliance. California has since enacted a complex system of regulations: In 2003, the Marine Invasive Species Act expanded the scope of Lempert’s legislation. Three years later, the Legislature required the commission to set limits on organism concentrations in ballast water; these “ standards of performance ” were implemented in 2022. While the standards allow minute levels of organisms in the water, the goal is “zero detectable living organisms” by 2040. Several federal laws also aim to protect U.S. waters from creatures like the golden mussel. Penalties for breaking ballast management rules have been modest. At the state level, violations have resulted in 24 fines in the past six years, totaling just over $1 million. Federal fines are rare, with just nine penalties issued amounting to about $714,000 in the EPA’s Pacific Southwest region since 2013. Commission officials said “the frequency of noncompliant discharges ... has dropped dramatically since our enforcement regulations (with penalties) were adopted in 2017.” California officials say achieving the law’s goal of zero organisms in ballast water discharged into waterways is infeasible. It would require a network of treatment plants at coastal ports, costing $1.45 billion over 30 years. The shipping industry would face another $2.17 billion in costs for installing systems capable of transferring ballast water to the floating treatment plants. But Eichenberg said some ships already use commercially available systems that consistently, and by a wide margin, outperform industry standards. He said the state’s failure to require that vessels use the most advanced treatment systems available — technology capable of nearly sterilizing ballast water — has culminated in the golden mussel’s arrival. “Something like this was bound to happen eventually,” he said. State and federal performance standards — modeled after international standards — limit the concentration of living zooplankton-sized organisms, like mussel larvae, in ballast water before discharge to 10 per cubic meter. For smaller organisms, allowances are higher. But even in ballast water that has undergone treatment in approved systems, zooplankton concentrations can be off-the-charts for reasons not always clear, according to Hugh MacIsaac, an aquatic invasive species researcher at the University of Windsor in Ontario, who has studied the spread of the golden mussel in South America and central China. Treating ballast water doesn’t necessarily work. A study in Shanghai found up to 23,000 zooplankton-sized organisms per cubic meter in the ballast water of half of ships sampled, MacIsaac said. Ruiz, at the Smithsonian research center, said the study’s sample size of 17 ships is too small to be representative and that such high concentrations are abnormal in the United States. “We sample vessels here, and that’s not what we see coming into the U.S.,” he said. Ship operators have shifted radically in the past 20 years “from no management to a nearly complete use of open-ocean exchange to, now, an almost complete transition to ballast treatment technology,” Ruiz said. The federal government, not state agencies, will soon become the key player in ballast management. That’s because new EPA rules, which are likely at least 18 months away from full implementation, will preempt state regulations. The new rules — which state officials will help enforce — will keep the existing standards for organism concentrations, but prevent states from implementing their own rules that exceed federal standards. For example, California’s goal of zero detectable organisms in ballast discharge will be nixed. Nicole Dobrosky, the State Lands Commission’s chief of environmental science, planning and management, said states can petition the federal government for changes to the rules. Shippers welcome the shift to national rules that align with international standards, said Jacqueline Moore, Long Beach-based vice president of the Pacific Merchant Shipping Association . “An international industry by nature, the maritime community always appreciates consistent standards across the board, and across the ocean in this case,” Moore said. “It’s much easier for everyone.” But the change of regulatory oversight concerns Marcie Keever, the oceans and vessels program director with Friends of the Earth. She said that to date the State Lands Commission has been the more active enforcer. Preempting state laws with federal standards that she says are too weak “will essentially give the shipping industry a free pass to pollute...These shipping companies are self-reporting pollution instances, and no one is doing anything about it except for the state.” In 1973, the EPA exempted ballast water from the Clean Water Act. Eventually forced by court rulings to comply with the act, the agency released its newest standards in October for limiting organism concentrations in ballast water. Keever said the EPA is not setting the bar as high as it should. “We’re still basically at the same place we were at 20 years ago,” Keever said. “The EPA has never set what we see as the best available technology for ballast water discharges.” More than 150 environmental groups made similar claims in a 2022 letter to President Joe Biden, arguing that the technology exists now to almost entirely sterilize ballast water. “[W]e have the technical ability to efficiently remove or kill organisms that are trapped in a tank of water,” they wrote. “For half a century federal law has required EPA to use that ability to protect the environment and public health — yet EPA still refuses to do so.” The EPA disagrees with the criticism. Joshua Alexander, press officer with the agency’s Region 9 San Francisco office, told CalMatters that “the EPA concluded that these standards (in the new rules) are the most stringent ones that the available ballast water test data can support.” October’s discovery of the golden mussel in California is being treated urgently by state and federal officials. The creatures have wreaked havoc on water supply and hydroelectric facilities in South America, and they are spreading rapidly through central China. In the Great Lakes, invasive zebra mussels cause $300 to $500 million in damages annually to power plants and other water infrastructure — the types of impacts officials in California hope to avoid. Tanya Veldhuizen, the Department of Water Resources’ special projects section manager, said officials are considering the use of chemicals to remove the creatures from pumps, intakes and pipelines of the massive State Water Project, which transports water to farms and cities. Several scientists told CalMatters that with most nonnative species, eradication is only possible early in the game — meaning management officials often have one shot at success. Biologist Andrew Chang, who works at the Smithsonian research center’s Marin County field lab, noted an old adage in invasion ecology — containing the spread of a nonnative species is like trying to put toothpaste back into a tube. “The more time that passes, the process of putting the toothpaste back in the tube gets messier and messier,” Chang said. University of Windsor’s MacIsaac thinks California may be on the cusp of an unstoppable mussel invasion. “This is an enormous problem for your state,” he said.
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In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. --- In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. --- In recent years, the collective perception of economic conditions and the future seems to be marked by increasing pessimism. Looking around us, we might think we are living in troubled times. Indeed, we have lived through global financial crises like the one in 2008, a pandemic, and other major events, but the impact of these events is often magnified. The focus on negative news in the media and social media can fuel a sense of insecurity and fear about the present and the future. Moreover, human nature predisposes us to pay more attention to negative news, thus increasing the feeling of insecurity. The result is a distorted (as I will show below) but widespread perception that the "golden age" belongs to the past, while the present is dominated by instability and decline. But economic indicators - objective barometers of the state of the economy - offer us a different perspective: the golden age is not to be found in the past, but rather in the present. In this sense, the graph below shows us that today, we are crossing an extraordinary, unprecedented chapter in Romania's economic history. Analyzing the evolution of GDP per capita adjusted to purchasing power parity (a relevant benchmark for measuring economic progress and convergence) from 1862 to today, compared to the developed countries of Western Europe (Germany, France, Great Britain, Italy and Spain), we discover a surprising evolution, culminating in a remarkable performance in recent years. This series of data, probably one of the most extensive of its kind, shows that Romania's level of development has fluctuated between 20% and 40% of the Western European average for about 140 years, maintaining an average of about 30 %. However, in the last two to three decades, Romania has registered accelerated economic growth, which can be considered a real "economic miracle,” propelling us towards a unique level of well-being in our entire history, with increased access to goods and services. After almost a century and a half of underdevelopment, we have overcome the status of a low-income economy and advanced to a medium level of development. From a country deeply affected by the transition from a centralized to a market economy, we have become a complex economy, comparable to the economies of Central and Eastern European countries such as Poland, Slovakia, and Hungary, which are also in the range of 70-80% of the EU average in terms of GDP/ capita PPP. We are at a point where, despite internal and external challenges, we have made important progress, and economically and in terms of living standards, we are closer to the West than we have ever been. A convergence as rapid as that experienced by Romania (and the Central and Eastern European region) in the last two and a half decades is rare. In Romania, the GDP per capita, in terms of purchasing power parity (PPP) compared to the EU average, increased spectacularly from approximately 25% to almost 80% during this period. Although regional disparities still persist in our country, overall progress is undeniable. However, the overall picture of Romania's economic progress hides at least 42 nuances (the 41 counties plus the capital), reflecting notable geographical differences. Although the indicators at the national level show a clearly positive trend, regional inequalities and economic differences between counties create a much more complex and fragmented reality. Even in areas considered developed, there are social groups that have not benefited to the same extent from the process of economic convergence. The economic differences between Romania's counties are obvious. The less-performing areas in terms of GDP per capita reach barely 44-48% of the national average, while top counties such as Brașov, Timiș, and Cluj reach values between 116% and 145%. Bucharest stands out, reaching 280% of the national average. Counties with higher economic performance are generally able to offer higher wages to employees, which increases inequality. Although it is probably the most commonly used indicator to measure economic progress, GDP does not fully capture the true well-being of the population. If we look at stock indicators such as net financial wealth per capita, in contrast to flow indicators such as GDP per capita, we see a gap compared to our neighbors in Central and Eastern Europe. This suggests that while economic growth has been robust, wealth accumulation at the individual level remains a challenge. Although the economic convergence is as clear as possible, the main question mark remains the sustainability of this positive trend. We have a long way to go until the well-being of each county and each social category in Romania approaches the level of those in the European Union. Reality is complex, with many nuances. Furthermore, how we feel – our level of happiness and contentment – depends on a multitude of factors. GDP per capita is a simple indicator and cannot capture the complexity of human feelings. Moreover, certain cognitive biases can distort our perception of the past and present, such as " rosy retrospection ” (the tendency to idealize the past). Many tend to remember their youth or past times as better than they actually were. But returning to the topic of convergence, the question naturally arises: how was this spectacular progress over the last 20-25 years possible? The short answer is: European integration. The European project has a profound impact on our lives, promoting economic cooperation, raising living standards and supporting democracy, freedom and peace among member states. Membership of the European Union played an essential role in the convergence process of Central and Eastern European countries, including Romania. The accelerated development of this region in the last two decades is a case study, a rare example in economic history that highlights the advantages of European integration. Integration into the European Union gave Romania access to a vast common market, structural funds, and unprecedented investment opportunities. The adoption of European standards, the implementation of structural reforms, and the strengthening of democratic institutions were key elements in this process. This success formula can serve as an example for other countries that aspire to European integration, such as the Republic of Moldova. In the context of the recent elections in the Republic of Moldova, the European path is not only a geopolitical option but also a real opportunity for economic development and prosperity, even if this process is long-lasting and will require sustained efforts. According to economic theory, growth is based on two fundamental elements: labor force contribution (number of employees and hours worked – L) and labor productivity (LP). The latter is determined by capital (equipment, factories, infrastructure – K) and total factor productivity (TFP), a measure of the efficiency of the use of economic resources, which reflects innovation, technological progress and the quality of management. To illustrate this concept, imagine a worker from Central and Eastern Europe in a company in Western Europe or the United States. We often observe that it becomes as productive as its Western counterparts. On the other hand, if an employee in a highly developed country were to work in an environment with limited resources, his productivity would decline considerably. This emphasizes the key role that capital and technology play in increasing productivity. European integration has allowed the Romanian workforce to become approximately three times more productive today compared to the beginning of this century, unlocking huge growth potential. Romania's transformation from a closed economy to an open market economy has made it possible for us to participate in international trade and integrate into global value chains. This path has brought challenges and intense competition, but the positive impact on the economy is undeniable. In addition, European funds have supported essential reforms and investments in infrastructure and public services, contributing directly to economic growth. Foreign direct investment (FDI) has also played a decisive role, providing capital and increasing total factor productivity through the transfer of technology and managerial expertise, indispensable elements of a modern economy. Last but not least, strong institutions have played a key role in this transformation, as argued by the 2024 Nobel Prize laureates in Economics, Daron Acemoglu, Simon Johnson, and James Robinson, in their studies of how institutions influence the prosperity of nations. We adopted models, legislative frameworks, and knowledge systems developed and successfully tested in Western Europe, which contributed to increasing Romania's economic stability and competitiveness. In the last quarter of a century, Romania reached an average rate of convergence with the EU average of approximately 2 percentage points per year, but with the approach to the European level, the road becomes increasingly difficult. The pace of convergence is expected to slow in the coming years, both because of the complexity of the next steps and the specific challenges looming on the horizon. The threat of the "middle-income trap" appears, specific to developing countries that have difficulty taking the next step and becoming developed economies. The first limiting factor is the proximity to the technological frontier. If the jump from 25% to 75% of the EU average was challenging but achievable, the increase from 75% to 100% requires constant innovation and massive investment in technology. A relevant analogy would be driving a car in fog on a winding mountain road. Initially, we follow the lights of the car in front (Western models), but once we pass it, we realize that we no longer have a clear guide and must discover our own direction. At the technological frontier, progress depends on our ability to innovate and adapt. The labor market represents another challenge on the road to full convergence. If in the 2000s Romania had a high unemployment rate and a relatively cheap workforce, today the situation has changed. In the context of a reduced natural increase and the problem of emigration, access to highly qualified labor is becoming increasingly difficult. Fiscal policy also becomes a limiting factor. Given that larger, unsustainable deficits have been tolerated in recent years, we see that public debt has grown rapidly, from around 12% of GDP in 2007 to almost 52% in 2024. Prudent management of public finances and gradual fiscal consolidation are essential for maintaining economic stability. European funds will continue to play an important role, but their contribution may diminish in the medium term. As we approach the standard of living of the more developed states in the EU, financial resources will have to be directed to other priorities of the Union. The EU itself faces major challenges, such as the need to improve economic competitiveness (as the Draghi report points out) alongside other strategic initiatives (e.g., defense), supporting other states pursuing the integration or reconstruction of Ukraine. Foreign direct investment (FDI) is another element but with mixed prospects. On the one hand, the tense geopolitical context can discourage investors, who become more cautious in their decisions. On the other hand, the trends of near-shoring and friend-shoring – relocating production closer to the markets or in friendly countries – can create opportunities for Romania if we manage to attract these investments through appropriate policies. In order to continue the convergence process, Romania must develop internal engines of economic growth. A possible catalyst (country project) could be joining the Eurozone. The preparation process and reforms required for the adoption of the euro can stimulate the modernization of the economy and strengthen investor confidence. The road to the euro area is as important as the actual adoption of the single currency. With realistic optimism, it can be said that by the end of this decade, Romania could reach 85-90% of the EU development average. So when was or is the "golden age"? There are objective arguments to suggest that we are in a special time economically, with remarkable progress and unique opportunities. However, as one experienced former central banker said, just like in a relationship, the golden age in economics is often only seen when things stop working. Personally, I would like to believe that our true economic golden age is just ahead, waiting to be built by our efforts and aspirations. In a global context marked by immense challenges, Romania has a real chance to continue its progress. But this chance requires work, vision and commitment, and the first test awaits us next year itself, when we will be faced with the need to gradually reduce macroeconomic vulnerabilities, especially the budget deficit. ---Ono Enters into Drug Discovery Collaboration Agreement with Congruence Therapeutics to Generate Novel Small Molecule Correctors in the Oncology Area
NEW YORK , Nov. 30, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of iLearningEngines, Inc. (NASDAQ: AILE) between April 22, 2024 and August 28, 2024 , both dates inclusive (the "Class Period"), of t the important December 6, 2024 lead plaintiff deadline. So what: If you purchased iLearningEngines securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the iLearningEngines class action, go to https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) iLearningEngines' "Technology Partner" was an undisclosed related party; (2) iLearningEngines used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) as a result of the foregoing, iLearningEngines significantly overstated its revenue; and (4) as a result of the foregoing, defendants' positive statements about iLearningEngines' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the iLearningEngines class action, go to https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aile-deadline-aile-investors-have-opportunity-to-lead-ilearningengines-inc-securities-fraud-lawsuit-302318967.html SOURCE THE ROSEN LAW FIRM, P. A.Jon Stewart mocks 'the dance Democrats have to do' after Hunter Biden pardon