Payment funding – Agapes GR http://agapesgr.org/ Wed, 29 Jun 2022 02:13:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://agapesgr.org/wp-content/uploads/2021/06/icon-2021-06-25T194407.031-150x150.png Payment funding – Agapes GR http://agapesgr.org/ 32 32 Finance Companies Acquire CardUp, Drive Payments Expansion https://agapesgr.org/finance-companies-acquire-cardup-drive-payments-expansion/ Wed, 29 Jun 2022 01:30:00 +0000 https://agapesgr.org/finance-companies-acquire-cardup-drive-payments-expansion/ The acquisition of the digital payments platform will take place in June and is subject to regulatory approvals The digital lender will benefit from CardUp’s range of technologies and payment solutions, further expanding its financial services beyond lending SINGAPORE, June 29, 2022 /PRNewswire/ — Finance Companies, South East Asia the largest digital finance platform for […]]]>
  • The acquisition of the digital payments platform will take place in June and is subject to regulatory approvals
  • The digital lender will benefit from CardUp’s range of technologies and payment solutions, further expanding its financial services beyond lending

SINGAPORE, June 29, 2022 /PRNewswire/ — Finance Companies, South East Asia the largest digital finance platform for small and medium-sized enterprises (SMEs), today announced the acquisition of regional payment solution, CardUp, for an undisclosed sum*. Through this move, the company will acquire CardUp’s payment capabilities such as card payments to non-card accepting recipients (domestic and cross-border), online payment acceptance, invoice automation tools as well as its licenses and integrations with renowned third-party enterprise software. . CardUp’s payment services will complement lending products from finance companies, to provide a unified financial experience for SMEs in the region, allowing SMEs to manage and pay their expenses, receive payments and borrow funds within a single transparent digital platform.

(L to R): Kelvin Teo, Co-Founder and Group CEO, Funding Societies | Modalku; Nicki Ramsay, Founder and CEO, CardUp

Acquisition follows Funding Societies’ recent Series C+ fundraising US$294 million in February 2022whose $144 million was raised in equity, and its recent investment in Bank Index in Indonesialaunch of the Elevate professional virtual card in Singapore and entry into Vietnamstrengthening the company’s range of financial services for SMEs.

Launched in 2016, CardUp is a Singaporepayment solution that helps individuals and businesses make payments to suppliers and collect payments from customers digitally. With presence in Singapore, Malaysiaand hong kong, CardUp has served tens of thousands of businesses, including micro-enterprises, SMEs, and enterprises in a range of B2B and C2B industries. These businesses use CardUp for payments related to payroll, rent, corporate tax, supplier payments, receivables flows and cross-border expenses. CardUp is seeing huge demand from businesses looking to save time and money through payment digitization, which is reflected in its rapid growth, increasing 53% from the previous quarter.

Co-founder and CEO of the group of finance companies | Modalku, Kelvin Teosaid, “Having known Nicki and CardUp since 2018, we find that CardUp has an excellent cultural and strategic fit. The acquisition of CardUp allows us to leapfrog and accelerate our market leadership in the regional FinTech space, integrating payment capabilities, enhanced user experience and local licensing into our digital lending experience in key markets. We are excited to work with the team at CardUp and honored to partner with them.”

The acquisition comes at the right time as SMEs are expected to push the ASEAN digital finance market towards $60 billion by 2025, while the region’s corporate payments industry grows at a CAGR of ten% over the next five years. The transaction supports ASEAN SMEs’ current drive to digitally transform their financial processes, save time and money, and better serve their customers through next-generation financial tools and services.

Founder and CEO of CardUp, Nicki Ramsaysaid, “We have long recognized Funding Societies as the regional leader in SME finance and a complementary counterpart to our expertise in payments. This acquisition reflects a strong strategic and cultural synergy with both parties aligned on the mission of helping SMEs improve the way they operate. their business and manage cash flow. We are confident that CardUp and our employees are in good hands with Kelvin and his team and we are excited to be working on this next chapter of growth together.

Once the acquisition is finalized and approved by regulators, finance companies will welcome Nicki Ramsay into its leadership team to lead its payments business while retaining all CardUp employees across Asia. CardUp will continue to operate its consumer and business services and maintain its longstanding relationships with card networks, issuers and media partners. Finance companies and CardUp will leverage strong synergies in the form of complementary talent, technology, as well as banking and technology partnerships to further empower SMEs in Southeast Asia.

About finance companies

Finance companies | Modalku is the largest digital SME finance platform in South East Asia. It is licensed and registered in Singapore, Indonesia, Thailand, Malaysiaand operates in Vietnam. It is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, BRI Ventures, VNG Corporation, Rapyd Ventures, Endeavour, EDBI, SGInnovate, Qualgro, and Golden Gate Ventures, among others. The FinTech company provides financing to small and medium-sized enterprises (SMEs), annualizing 1 billion US dollars disbursement in 2021. He received MAS FinTech Award in 2016, Global SME Excellence Award at United Nations ITU Telecom World in 2017, KPMG Fintech100 in 2018, Brands for Good in 2019 and ASEAN Startup of the Year by Global Startup Awards in 2020. In 2021, he was honorably named Responsible Digital Innovator of the Year by the World Bank’s IFC SME Finance Forum and won the MAS Fintech award for the second time.

https://fundingsocieties.com/

About Cardup

CardUp is a payment solutions provider, offering individuals and businesses a better way to pay and get paid. The platform makes life easier for business owners, bringing together accounts payable and receivable in one easy-to-use digital platform. No-code solutions improve cash flow management, unlock rewards on existing credit cards, and save time through automation, all without software implementation or setup time.

CardUp was founded in 2016 and operates in Singapore, hong kong and Malaysiaand employs full-time employees at 4 sites (Singapore, India, hong kong and Malaysia).

It is approved by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act 2019 and is licensed by the Hong Kong Customs and Excise Department (HKCED) as a Money Services Operator.

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Three Arrows Capital (3AC) must repay its loans or default https://agapesgr.org/three-arrows-capital-3ac-must-repay-its-loans-or-default/ Mon, 27 Jun 2022 10:02:13 +0000 https://agapesgr.org/three-arrows-capital-3ac-must-repay-its-loans-or-default/ Billions of dollars of value have been wiped from the cryptocurrency market over the past few weeks. Companies in the sector are feeling the pain. Lending and trading companies are facing a liquidity crunch and many companies have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge […]]]>

Billions of dollars of value have been wiped from the cryptocurrency market over the past few weeks. Companies in the sector are feeling the pain. Lending and trading companies are facing a liquidity crunch and many companies have announced layoffs.

Yu Chun Christopher Wong | S3studio | Getty Images

Three Arrows Capital, a crypto-focused hedge fund, must meet a deadline Monday to repay more than $670 million in loans or default, in a case that could have a ripple effect on the digital asset market.

3AC, as it is also known, is one of the largest crypto hedge funds and is known for its high leverage bets.

But with billions of dollars wiped out of the digital coin market in recent weeks, the hedge fund faces a potential liquidity and solvency problem.

Voyager Digital, a digital asset brokerage firm, said last week that it loaned 3AC 15,250 bitcoins and $350 million of the USDC stablecoin. At Monday’s prices, the total loan equates to more than $675 million. Voyager has given Three Arrows Capital until June 24 to repay USDC$25 million and the entire outstanding loan by June 27, Monday.

None of those amounts have been refunded, Voyager said last week, adding that it may issue a notice of default if 3AC does not refund the money.

Voyager said it “intends to pursue the recovery of 3AC” and is discussing with its advisers “the legal remedies available”.

Voyager Digital and Three Arrows Capital were not immediately available for comment when contacted by CNBC.

Voyager, which is listed on the Toronto Stock Exchange, has seen its shares fall 94% this year.

How did 3AC get here?

Three Arrows Capital was established in 2012 by Zhu Su and Kyle Davies.

Zhu is known for his incredibly optimistic view of bitcoin. He said last year that the world’s largest cryptocurrency could be worth $2.5 million per coin. But in May this year, as the crypto market began its meltdown, Zhu tweeted that his “supercycle price thesis was sadly wrong.”

The onset of a new so-called “crypto winter” has hurt digital currency projects and businesses across the board.

Three Arrow Capital’s troubles appeared to begin earlier this month after Zhu tweeted a rather cryptic message stating that the company is “communicating with relevant parties” and is “fully committed to resolving this issue”.

There was no follow-up on specific issues.

But the Financial Times reported after the tweet that US-based crypto lenders BlockFi and Genesis had liquidated some of 3AC’s positions, citing people familiar with the matter. 3AC had borrowed from BlockFi but was unable to meet the margin call.

A margin call is a situation where an investor must commit more funds to avoid losses on a trade made with borrowed money.

Then the so-called algorithmic stablecoin terraUSD and its sister token luna crashed.

3AC was exposed to Luna and suffered casualties.

“The Terra-Luna situation caught us off guard,” 3AC co-founder Davies told The Wall Street Journal in an interview earlier this month.

Risk of contagion?

Three Arrows Capital is still facing a credit crunch exacerbated by continued pressure on cryptocurrency prices. Bitcoin hovered around the $21,000 level on Monday and is down around 53% this year.

Meanwhile, the US Federal Reserve signaled further interest rate hikes in an effort to control runaway inflation, which stifled riskier assets.

3AC, which is one of the largest crypto-focused hedge funds, has borrowed large sums of money from various companies and invested in a number of different digital asset projects. This has raised fears of further contagion in the industry.

“The problem is that the value of their [3AC’s] assets have also declined massively with the market, so overall these are not good signs,” Vijay Ayyar, vice president of business development and international at Luno Exchange, told CNBC.

“What you need to see is if there are any great players left who were exposed to it, which could cause further contagion.”

Already, a number of crypto firms are facing liquidity crises due to the market crash. This month, lending company Celsius, which promised users very high returns for depositing their digital currency, suspended withdrawals for customers, citing “extreme market conditions”.

Another crypto lender, Babel Finance, said this month that it is “facing unusual liquidity pressures” and halted withdrawals.

CNBC’s Abigail Ng contributed to this report.

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Abortion is illegal in Missouri. Suppliers look to next frontier to secure access • Missouri Independent https://agapesgr.org/abortion-is-illegal-in-missouri-suppliers-look-to-next-frontier-to-secure-access-missouri-independent/ Sat, 25 Jun 2022 14:19:30 +0000 https://agapesgr.org/abortion-is-illegal-in-missouri-suppliers-look-to-next-frontier-to-secure-access-missouri-independent/ Angela Huntington’s phone kept ringing. When Texas’ fetal heart rate ban on abortions went into effect last September, the number of patients calling Planned Parenthood Great Plains jumped overnight. In August, approximately 150 patients received financial aid and assistance. In September, that number rose to around 850. “I remember my inbox growing, like every minute,” […]]]>

Angela Huntington’s phone kept ringing.

When Texas’ fetal heart rate ban on abortions went into effect last September, the number of patients calling Planned Parenthood Great Plains jumped overnight. In August, approximately 150 patients received financial aid and assistance. In September, that number rose to around 850.

“I remember my inbox growing, like every minute,” Huntington, one of the organization’s first patient navigators based at their Columbia clinic, said in an interview earlier this month. “It was like a thread with the number of emails I was getting.”

While abortions haven’t been offered at the Columbia clinic since 2018, Huntington is part of a growing team of patient navigators who aim to be guides for patients in a post-Roe world.

Earlier this month, Huntington even helped a patient from Oklahoma who couldn’t afford an out-of-state trip to Kansas City. in a private plane piloted by a volunteer to reach an appointment.

New regional centers that aim to continue making abortions easier to access — even if they don’t happen in Missouri — are brewing in both Illinois and Kansas. The Regional Logistics Center has been operating in Fairview Heights since Januarywhile the Kansas Center for Abortion and Reproductive Equity plans to start as soon as possible.

Kendyl Underwood, a 20-year-old student from Saint Louis University, sits outside the Planned Parenthood clinic in Saint Louis on June 24, 2022 after the release of the U.S. Supreme Court’s decision reversing Roe v . Wade (Tessa Weinberg/Missouri Independent).

Abortions are now illegal in Missouri after Friday’s landmark U.S. Supreme Court ruling overturning Roe v. Wade, who had guaranteed a constitutional right to process. Only abortions performed in medical emergencies are permitted under the state’s trigger ban. Missouri’s Last Abortion Clinic ceased all abortion services on Friday.

For abortion providers, who for decades have faced growing restrictions from the GOP supermajority that controls the Missouri state house, Friday’s decision echoes familiar ground.

“We’ve been through this before,” Emily Wales, CEO and President of Planned Parenthood Great Plains, said in an interview earlier this month, later adding, “It feels different because it’s not death by a thousand cuts anymore. . And I think that’s what he went through in Missouri.

For abortion advocates, a new frontier awaits.

“The battle is not over, but the battlefield has changed,” said Sam Lee, a longtime Campaign Life Missouri lobbyist.

Lee said he expects there will be attempts to legalize abortion in Missouri, whether through a lawsuit to find an abortion right in the constitution of the Missouri or a referendum to put the question to voters.

In anticipation of the overturning of Roe v. Wade, Missouri lawmakers had proposed legislation during the last session ensure that no abortion rights exist in the state constitution. In Kansas, a proposed constitutional amendment on the August ballot will decide if there is a constitutional right to abortionpotentially ushering in a wave of new restrictions if voters decide that is not the case.

It remains to be seen which direction Missouri lawmakers will choose to go in a post-Roe world.

Last year, Missouri lawmakers unsuccessfully tried to ban payment for some forms of contraceptives through the state’s Medicaid program and reported another push may be under discussion. A proposal that has garnered national attention to allow private citizens to sue anyone who helps a Missourian access an abortion — regardless of where the procedure takes place — failed to gain ground in the legislature.

Mary Maschmeier, left, founder of Defenders of the Unborn, hugs outside the St. Louis Clinic of Planned Parenthood as she celebrates the U.S. Supreme Court’s decision overturning Roe v. Wade on June 24, 2022 (Tessa Weinberg/Missouri Independent).

“Anything that could harm or kill the child should not exist,” said Mary Maschmeier, founder of Defenders of the Unborn. “And birth control, that’s it.”

Meanwhile, earlier this month, the National Right to Life Committee proposed a model law on abortion that states adopt once Roe falls. The bill goes beyond simply criminalizing providers who perform an abortion by prohibiting anyone from helping someone obtain one illegally. Under model legislation, this includes sharing information online or over the phone about how to get one.

But for now, there are more immediate battles to fight.

During a panel discussion Friday at the Planned Parenthood Clinic in St. Louis, Mallory Schwarz, executive director of Pro-Choice Missouri, revealed that a bill would be presented by the alderman of Saint-Louis to create a funding stream to support access to abortions by delivering $1 million in American Rescue Plan Act funds to groups working to provide transportation, lodging, child care and more to patients needing the procedure.

“This legislation makes St. Louis the fifth location to provide municipal funding for abortion access,” Schwarz said, “and the first municipality to provide funding for all pregnancy support, including l access to doulas, breastfeeding support, and mental health care during pregnancy and postpartum.

Lee said he believes the bill would violate state laws that ban public funds, public employees and public facilities to be used to facilitate abortions. A provision of state law defines “public funds” as any money received or controlled by the state or political subdivision, which may come from “federal, state, or local taxes, gifts or grants from any source, public or private, federal grants or payments, or intergovernmental transfers” .

“There’s just no doubt in my mind,” Lee said, “and if the Board of Aldermen goes through with it, we’ll seek execution.”

Federal Call to Action

Congresswoman Cori Bush, Democrat of St. Louis, on Friday urged the Biden administration to declare a national public health emergency and increase funding for Title X health centers.

“This is an emergency,” Bush said, “and it requires urgent action.”

With U.S. Supreme Court ruling returning authority over abortion to states, Missouri reproductive rights advocates renew calls for President Joe Biden’s administration to step up its enforcement of federal laws to ensure that Missouri’s reproductive health provider safety net remains intact.

During the last legislative session, Missouri lawmakers cut funding to abortion providers and their affiliates through the state budget. It awaits Governor Mike Parson’s signature. Planned Parenthood has already sued for restricted Medicaid payments following a supplementary budget enacted earlier this year.

In a May 12 letter, more than 25 advocacy organizations — ranging from health care providers like Planned Parenthood to advocacy groups like Empower Missouri — urged the Centers for Medicaid and Medicaid Services to enforce federal law that states that Medicaid patients can choose any qualified provider to receive services. of.

Advocates echoed those calls during Friday’s roundtable with U.S. Department of Health and Human Services Secretary Xavier Becerra.

Becerra, a Biden appointee and former California attorney general, pledged to ensure that states adhere to federal laws governing access to care.

“We want to be clear: We respect a state’s rights when it comes to its health and safety laws. These are constitutionally left primarily to a state,” Becerra said, later adding, “We will ensure that if there is federal law in place that protects the rights of individuals in this country to access care, that these rights are applied.

U.S. Representative Cori Bush, President and CEO of St. Louis Area Planned Parenthood Reproductive Health Services Yamelsie Rodríguez and U.S. Department of Health and Human Services Secretary Xavier Becerra speak at the a panel discussion at the Planned Parenthood Clinic in St. Louis in June, Feb. 24, 2022 (Tessa Weinberg/Missouri Independent).

But HHS has yet to announce any action in the Missouri case. A spokesperson for the federal agency previously said in April that it was reviewing the policy.

Becerra said the application may involve legal action by the US Department of Justice or ensuring the state provides the services it needs to receive Medicaid funds.

At the end of the day on Friday, the shock at the decision had turned into anger for defenders of reproductive rights. Hundreds of people gathered at the Planned Parenthood Clinic in St. Louis — which until Friday was the only place to get an abortion in the state — to sing, march and share calls to action.

Amid the crowds propelled into the streets by Friday’s decision, a University of Washington student named Rida said her thoughts turned inward.

“It absolutely changes the way I approach relationships. My body doesn’t feel like my own. It feels like it belongs to Mike Parson somehow,” a- she declared.

“It’s terrifying to feel like if I find myself in a situation that’s completely out of my control, you know, God forbid if anything happens to me if I’m mugged, that he doesn’t there’s literally nothing I can do to help myself.”

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UK plans 5% pay rises for public sector workers https://agapesgr.org/uk-plans-5-pay-rises-for-public-sector-workers/ Thu, 23 Jun 2022 16:50:13 +0000 https://agapesgr.org/uk-plans-5-pay-rises-for-public-sector-workers/ Pay deals for UK public sector staff could involve increases of up to 5% this year, government insiders say, as ministers try to avoid widespread strikes by key workers. Amid the escalating cost-of-living crisis, ministers say it is increasingly untenable to keep public sector pay deals – notably for nurses and teachers – within the […]]]>

Pay deals for UK public sector staff could involve increases of up to 5% this year, government insiders say, as ministers try to avoid widespread strikes by key workers.

Amid the escalating cost-of-living crisis, ministers say it is increasingly untenable to keep public sector pay deals – notably for nurses and teachers – within the two-to-one range. 3% they targeted.

However, the Treasury refuses to fund more generous pay deals, meaning Whitehall departments would have to find the money for 5% settlements within existing budgets.

A government aide said independent pay review bodies – which make recommendations to ministers on the salaries of teachers and health workers, police and prison staff, civil servants and the armed forces – should recommend in the coming weeks wage increases typically “one or two percentage points” above the 3% cap, implying 5% awards in at least some cases.

If ministers accept the recommendations, “unless things change, those increases should still come from efficiencies rather than the Treasury handing over more funding,” the aide added.

Prime Minister Boris Johnson and Chancellor Rishi Sunak have argued that big public sector pay rises would be both unaffordable and inflationary, given the Bank of England’s fears of a so-called spiral wages and prices.

But one minister said: “If we don’t move towards 5% on some of these [pay] agreements, we risk wave after wave of strikes.

The minister added that Downing Street was primarily concerned about pay rises for nurses and teachers “who are likely to cause the most headaches”.

The Treasury said any public sector wage increases “must be proportionate and balanced with the need to manage inflationary pressures and public sector finances”.

As inflation hits 9.1%, its highest level in 40 years, opinion polls suggest mounting public anger at the government’s suggestion that key workers should take a big pay cut.

“Inflation is not fueled by nurses and caregivers who want enough pay to keep food on the table,” said Frances O’Grady, general secretary of the Trades Union Congress.

Most British workers face pay cuts in real terms this year, with the BoE predicting inflation will hit 11% in October.

Public sector personnel, however, have already been hit hard: their salaries are on average already around 4.3% lower in real terms than they were in 2010.

The latest official data shows that staff salaries have increased by only 1.5% in nominal terms over the past year, compared to an average total compensation growth of 8% for the private sector.

Column chart of nominal monthly wage growth, by position in the UK income distribution, % showing top earners have seen the greatest wage growth over the past two years

Against this backdrop, Britain’s biggest rail strikes in a generation began on Tuesday when 40,000 members of the RMT union quit over pay, working practices and redundancies. Many are employed by the public company Network Rail, operator of the infrastructure.

Now unions representing teachers, young doctors and civil servants are preparing to elect their members over possible industrial action if their wage demands are not met.

But despite the risk of widespread industrial action, Sunak is resisting pressure from departments in Whitehall to reopen its spending review from last year to fund better pay deals.

Last month, the Chancellor unveiled £15bn of targeted support to help households cope with the rising cost of living, which the Institute for Fiscal Studies think tank says will almost offset the full impact on the poorest families.

But with that support in place, the Treasury is digging against new demands.

Although higher inflation is likely to bolster government tax revenues, Sunak allies have said there will be no additional funding for departments in Whitehall to help them deal with wage pressures.

UK Chancellor Rishi Sunak, pictured in May

Allies of UK Chancellor Rishi Sunak have said there will be no additional funding for departments in Whitehall to help them deal with pay pressures © Reuters

They added that departments had “flexibility” to respond to recommendations from wage review bodies and would have to make choices about what to cut if they wanted to pay workers more.

In practice, this will force departments to make big compromises in the delivery of public services.

The Department of Health and Social Care has told the NHS pay review body it can afford a total pay of up to 3%.

Every 1 percentage point increase in wages for hospital and community health service staff would cost £900million – the equivalent of the salaries of 16,000 full-time nurses – and therefore make it harder to resolve treatment backlogs in elective care.

The Department for Education has said that every 1 percentage point increase in school labor pay will cut £350m from other spending over the next two years, meaning it would be more difficult for headteachers to hire new staff or help children make up for losses. learn from Covid-19 lockdowns.

A government official said the Treasury was “in denial” about the level of public sector wage settlements that were reasonable.

The official also contrasted the situation of key workers with pensioners, who are expected to see the basic state pension rise by around 10% next April as the increase is linked to inflation.

Sunak has made it clear that fighting inflation is not his only motivation for resisting more generous pay deals in the public sector.

At a cabinet meeting on Tuesday, he stressed the government’s responsibility to avoid any action that “would fuel inflationary pressures or reduce the government’s ability to cut taxes in the future”, a spokesman said.

Sunak has pledged to cut income tax in 2024, although Tory MPs are calling for faster action to help tackle the cost of living crisis.

Meanwhile, economists challenged the idea that intense public sector wage compression was necessary to control inflation.

“The Bank of England can handle inflation,” said Tony Yates, a partner at the Resolution Foundation, another think tank. “Wage policy should be set according to labor market conditions, i.e. with regard to recruitment, retention and motivation.”

Simon Wren-Lewis, a professor at Oxford University, argued in a blog post that because public sector wage increases were not directly driving consumer prices, “in this very simple sense, you simply cannot achieve a wage-price spiral in the public sector”.

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Judiciary seeks funding for electronic surveillance and pay raises | Guam News https://agapesgr.org/judiciary-seeks-funding-for-electronic-surveillance-and-pay-raises-guam-news/ Tue, 21 Jun 2022 14:00:00 +0000 https://agapesgr.org/judiciary-seeks-funding-for-electronic-surveillance-and-pay-raises-guam-news/ There is a risk that Guam’s judiciary’s electronic surveillance program will not continue, or at least not continue as it should, without a credit being sought from the Guam legislature, according to the chief justice. of the Supreme Court of Guam, Philip Carbullido. The judiciary is requesting about $37 million for the next fiscal year, […]]]>

There is a risk that Guam’s judiciary’s electronic surveillance program will not continue, or at least not continue as it should, without a credit being sought from the Guam legislature, according to the chief justice. of the Supreme Court of Guam, Philip Carbullido.

The judiciary is requesting about $37 million for the next fiscal year, including about $652,700 for the electronic monitoring program and about $1.6 million to fund salary adjustments in the law enforcement and police pay scales. others.

The electronic monitoring program, which is used for pretrial detainees, provides several benefits to the community, including savings for the Department of Corrections.

Since the cost of holding a defendant in jail is $130 a day, electronic monitoring saves the DOC about $2.3 million over a year with 50 participants. More participants will mean more savings on prisoner accommodation.

But 50 is the current cap, due to lack of funding, and the program is experiencing a growing waiting list, according to Kristina Baird, court administrator for the judiciary.

The Legislature appropriated $500,000 to start the program in 2019.

“While it took a while to get the program up and running, we are finally there. … We have, however, used all of the initial funds and the funds provided in fiscal year 2019,” Baird told lawmakers on Tuesday. .

“During our FY2022 budget hearing, we presented to this body that our initial funding would run its course in December 2021. Despite this announcement of reality, we have not received a separate appropriation for the fiscal year 2022,” she added.

The judiciary maintained the program by capping the number of participants and absorbing some operating costs.

Baird said probation officers were moved from other critical areas and placed into the electronic monitoring program as it grew, leading to labor shortages and impacting probation operations.

The $652,700 request for electronic monitoring is broken down into approximately $376,000 for personnel services, $269,000 for operating costs and $7,500 for utilities.

“A lot” has been said about the self-pay requirement for the electronic monitoring program, but it’s a “slippery slope that is riddled with potential lawsuits,” Baird said, adding that the majority of people who enter in the criminal justice system are indigent. to start.

“Not funding the program and expecting participants to pay lays the groundwork for the punishment of neediness,” Baird said.

The judiciary is also looking to fund salary adjustments with its budget request.

This was triggered in January by the governor’s executive order providing an 18% pay increase for certain executive law enforcement agencies, according to Baird. About one-third of the judiciary is made up of law enforcement officers.

The judiciary has expressed serious concerns about the loss of its officers to the executive, Baird said. The judiciary also considered internal fairness, the impact of the salary adjustment on law enforcement only and granting a modest raise to all employees, she added. The third principle of the review was the adaptation of the budget to salary adjustments.

“Ultimately, the administration presented to the Judicial Council the recommendation that is currently before that body, the 6% for our non-law enforcement employees and the 7% salary adjustment for our law enforcement,” Baird said.

These adjustments exclude judicial officers.

The judiciary has also slashed “reduced operating budget” costs to make salary adjustments a tax possibility, Baird said.

Although the executive order triggered the demand, other factors are pushing for salary adjustments, she added.

The first is the law which imposes annual internal equity reviews and external competitiveness reviews every three years.

Baird said the judiciary was losing employees to Guam self-government and federal government agencies.

Inflation is also a factor pushing wage adjustments, she added.

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NH Delegation Calls On State To Help Granite States Pay Home Energy Bills With Federal Funding https://agapesgr.org/nh-delegation-calls-on-state-to-help-granite-states-pay-home-energy-bills-with-federal-funding/ Fri, 17 Jun 2022 21:47:54 +0000 https://agapesgr.org/nh-delegation-calls-on-state-to-help-granite-states-pay-home-energy-bills-with-federal-funding/ June 17, 2022 (Washington, DC) – Following the announcement this week of energy rate increases approved by the New Hampshire Utilities Commission, US Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) and Representatives Annie Kuster (NH-02) and Chris Pappas (NH-01) are urging the state to use the remaining funds that the Delection helped secure in […]]]>

June 17, 2022

(Washington, DC) – Following the announcement this week of energy rate increases approved by the New Hampshire Utilities Commission, US Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) and Representatives Annie Kuster (NH-02) and Chris Pappas (NH-01) are urging the state to use the remaining funds that the Delection helped secure in the US bailout to provide financial assistance to help Granite Staters pay their home energy bills.

As the chief negotiator of the bipartisan infrastructure bill, Shaheen pushed to increase Funding for the Low-Income Home Energy Assistance Program (LIHEAP) for Granite State families, leading to the highest total of LIHEAP funding never received in a 12 month period in NH history.

Additionally, in March, Shaheen joined Senators Jack Reed (D-RI), Susan Collins (R-ME), and Chris Coons (D-DE) in introducing the bipartisan Weatherization Assistance Program Enhancement Act. This program serves to expand access to weatherization service to low-income households who currently do not qualify for weatherization services due to their homes in need of major repairs.

Read the full letter from the New Hampshire Congressional Delegation here or below:

Following this week’s announcement of rate increases approved by the New Hampshire Utilities Commission, we are writing to encourage the state to use the remaining funding we helped secure under the American Rescue (ARP) to provide financial assistance to help Granite Staters pay their home energy bills.

A number of federal programs are already helping people across the state pay their energy bills. The Low income The Home Energy Assistance Program (LIHEAP) provides New Hampshire families and households with assistance to pay their home energy bills. We helped secure more than $94 million in LIHEAP funding for the state in fiscal years 2021 and 2022, nearly double what the state received in the previous two years. We continue to push for additional, solid LIHEAP and weatherization funding again this year. The Federal Emergency Rental Assistance Program and the Federal Homeowners Assistance Fund can also be used by eligible households to help pay energy costs and other utility bills; we’ve helped ensure New Hampshire receives hundreds of millions of dollars for these programs since 2020.

Additionally, we fought to ensure that New Hampshire receives nearly $1 billion from the state’s ARP fiscal stimulus fund — money that can be used to help pay utility bills. energy. Congress has allocated this money to help support state and local government responses to the impacts of the pandemic and minimize damage to our communities and economy. Helping families pay their electricity bills is a specifically listed eligible use of money from the State Fiscal Stimulus Fund.

The state should now use the money left over from that initial $1 billion federal allocation to establish a home energy cost assistance program to complement LIHEAP, including helping households that have low utility bills. domestic energy but which are not eligible according to the LIHEAP criteria. The state has the discretion to use these federal funds and design such a program. We urge the state to move quickly to provide this relief to Granite Staters when rate increases approved by the state’s Public Utilities Commission take effect.



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Today in FinTech: Smart Data; Logistics payments https://agapesgr.org/today-in-fintech-smart-data-logistics-payments/ Wed, 15 Jun 2022 20:49:07 +0000 https://agapesgr.org/today-in-fintech-smart-data-logistics-payments/ In today’s FinTech news, Affirm said its data analytics are central to who will pay. Meanwhile, PayCargo helps land, sea and air logistics companies manage digital payments. Additionally, Mastercard helps open banking startups grow. Affirm: Smart Data Provides Edge in BNPL Space Buy Now, Pay Later (BNPL) Affirm Chief Financial Officer Michael Linford said its […]]]>

In today’s FinTech news, Affirm said its data analytics are central to who will pay. Meanwhile, PayCargo helps land, sea and air logistics companies manage digital payments. Additionally, Mastercard helps open banking startups grow.

Affirm: Smart Data Provides Edge in BNPL Space

Buy Now, Pay Later (BNPL) Affirm Chief Financial Officer Michael Linford said its data-driven underwriting process gives it an edge over other companies in the industry. In-depth data analysis allows Affirm to assess transactions and consider factors such as time of day and other seemingly minor details to determine risk, the company said in a conversation. online with shareholders.

PayCargo raises $130 million for global expansion

Logistics payment company PayCargo is using capital from its Series C funding round to continue its global expansion efforts in Asia, the Middle East and Latin America. Blackstone Growth was the only investor in the round. PayCargo helps companies facilitate and manage payments in the maritime, air, road and rail sectors.

Paysend Launches Commercial Solution to Power SMB Payments

Paysend Business was introduced by money transfer company Paysend to provide small and medium-sized enterprises (SMEs) with end-to-end card payments and other tools to facilitate growth and diversification. The new commerce product enables SMBs to send, hold and receive digital payments in multiple currencies using a myriad of payment gateways, including Apple Pay and Google Pay.

Cartlow raises $18M Series A to further Saudi Arabia’s growth

Reverse logistics company Cartlow is using new capital from its funding round to accelerate expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The sole funder of the tour was the AlSulaiman Group. Based in Dubai, Cartlow offers an end-to-end reverse logistics solution and focuses on recommerce solutions, transforming the used industry ecosystem and eliminating unsustainable practices.

Mastercard launches global Start Path Open Banking initiative

Mastercard is launching an initiative to help open banking startups grow, uncover opportunities for innovation, and develop new customer experiences. The Start Path Open Banking Global Program lasts three months and teaches businesses about Mastercard’s open banking platforms through wholly-owned subsidiaries Finicity and Aiia.

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NEW PYMNTS DATA: THE CUSTOM PURCHASING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

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Spendflo: SaaS Shopping Platform Spendflo Raises $4.4M in Seed Funding https://agapesgr.org/spendflo-saas-shopping-platform-spendflo-raises-4-4m-in-seed-funding/ Tue, 14 Jun 2022 05:52:54 +0000 https://agapesgr.org/spendflo-saas-shopping-platform-spendflo-raises-4-4m-in-seed-funding/ Chennai: SaaS shopping platform, Spendflo, has raised $4.4m in seed funding from Accel India and founder-focused venture capital partner, Together Fund. The round saw participation from BoldCap and Signal Peak Ventures, as well as investments from a group of founders from companies such as Airbase, Zuora, Ivanti, CleverTap and Slintel. The Spendflo platform is vendor-neutral […]]]>
Chennai: SaaS shopping platform, Spendflo, has raised $4.4m in seed funding from Accel India and founder-focused venture capital partner, Together Fund.

The round saw participation from BoldCap and Signal Peak Ventures, as well as investments from a group of founders from companies such as Airbase, Zuora, Ivanti, CleverTap and Slintel.

The Spendflo platform is vendor-neutral and offers businesses purchasing SaaS software the ability to centralize contracts, gain spend visibility, manage renewals, and get guaranteed savings on their software spend. purchase of SaaS software.

Spendflo was part of the first Atoms Cohort, a program with $250,000 in funding to propel pre-seed startups with capital, mentorship from experienced entrepreneurs, and community support. Over the past six months, it has delivered over 23% savings for customers on their purchases of SaaS products. Just under a year after its launch, Spendflo helps many fast growing companies such as Airmeet, Crownpeak, LambdaTest and others with their SaaS purchases.

Founder and CEO Siddharth Sridharan told ET that the start-up is eyeing a $23 billion market opportunity, with the oldest competitor – US-based Vendr – just 3.5 years in the business. .

Spendflo would rise to handle $10 billion in SaaS spending over the next three years, given the strong growth in the SaaS software market globally and the bloated basket of SaaS tools that every business must pay for and operate, Sridharan told ET.

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Previously, Sridharan led the business operations team and managed SaaS procurement at Volta Charging, an American electric vehicle infrastructure company. He partnered with Ajay Vardhan, a former executive at Tone – a technology company to enable SMS marketing businesses, among others, and Rajiv Ramanan, a former Freshworks executive who led multiple growth channels within the Nasdaq-listed company, to launch Spendflo.

“Instead of centralized procurement workflows, we now have each business function purchasing what it needs. They overspend through unoptimized pricing plans, underutilized tiers and unused licenses,” said Accel India Partner Dinesh Katiyar.

Spendflo, which currently has 35 employees, will use the capital raised to hire in key Indian locations and the United States.

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Poor countries forced to cut public spending to pay debts, campaigners say | Economy https://agapesgr.org/poor-countries-forced-to-cut-public-spending-to-pay-debts-campaigners-say-economy/ Sun, 12 Jun 2022 11:22:00 +0000 https://agapesgr.org/poor-countries-forced-to-cut-public-spending-to-pay-debts-campaigners-say-economy/ The lack of an effective debt relief program is forcing some of the world’s poorest countries to cut public spending to keep repaying their creditors, a study finds. A report by Debt Justice indicates that the most indebted countries are expected to cut public spending by an average of 3% between 2019 and 2023 despite […]]]>

The lack of an effective debt relief program is forcing some of the world’s poorest countries to cut public spending to keep repaying their creditors, a study finds.

A report by Debt Justice indicates that the most indebted countries are expected to cut public spending by an average of 3% between 2019 and 2023 despite the need to counter the impact of soaring food and energy prices.

Using International Monetary Fund data on debt and government spending, the campaign group said the disparity between countries with high and low debt underscores the need for more comprehensive relief. Low-debt countries will increase their spending by an average of 14% between 2019 and 2023.

The report is released to coincide with an investigation this week by the House of Commons International Development Select Committee into the debt crisis in low-income countries, which has both the IMF and World Bank worried. Debt Justice – formerly Jubilee Debt Campaign – said Britain should use its power to entice private lenders to participate in debt relief.

The group’s senior policy officer, Tess Woolfenden, said: “Low-income countries are being forced to prioritize debt payments over public spending on health or food access, just at a moment’s notice. where the expenses are so urgent.”

In the early stages of the Covid-19 pandemic in 2020, the G20 agreed on a common debt treatment framework, but no country has yet received relief through this program, in part. due to opposition from private lenders.

Noting that 90% of the bonds of countries eligible for the G20 debt relief program were governed by English law, Woolfenden said: “The UK must act to ensure that private lenders participate in debt relief . Debt repayments to wealthy lenders must not take precedence over people’s needs in times of multiple crises. »

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Debt Justice identifies Sierra Leone as one of the countries forced to divert resources from public spending to debt payment. It says the country’s heavy debt burden was created during the Ebola crisis in 2014 and 2015, but increased due to the pandemic. The IMF expects real government spending per person in 2023 to be 20% lower than in 2015 and 4% lower than in 2019. This low level of spending is then expected to be maintained until at least 2025, according to Debt Justice.

Abu Bakarr Kamara, the Budget Advocacy Network Coordinator in Sierra Leone said, “With Ebola and Covid-19, Sierra Leone has faced two major health crises in recent years, which have collapsed the health sector and the economy. Yet debt repayment absorbs vital resources for the recovery.

“Sierra Leone’s debt cancellation is a critical tool to help the government increase its fiscal space to invest in the health sector in a transparent and accountable manner.”

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Oswego County Legislature Awards First Round of ARPA Funding https://agapesgr.org/oswego-county-legislature-awards-first-round-of-arpa-funding/ Fri, 10 Jun 2022 19:55:20 +0000 https://agapesgr.org/oswego-county-legislature-awards-first-round-of-arpa-funding/ June 10, 2022 OSWEGO COUNTY – The Oswego County Legislature passed a resolution at its June meeting to provide funding through the American Rescue Plan Act (ARPA). In addition to health care facilities, services and programs, approved projects include small businesses, non-profit organizations, and community development and infrastructure initiatives. “Over the past year, there have […]]]>

June 10, 2022

OSWEGO COUNTY – The Oswego County Legislature passed a resolution at its June meeting to provide funding through the American Rescue Plan Act (ARPA). In addition to health care facilities, services and programs, approved projects include small businesses, non-profit organizations, and community development and infrastructure initiatives.

“Over the past year, there have been many discussions across the state and the country about the types of projects that could be funded through this initiative,” the County Legislative Speaker said. Oswego, James Weatherup, District 9. “We have been very careful in our deliberations, not only to determine the best investments for the future of our county, but because if an audit determines the project is ineligible, we will have to repay those funds, which would defeat the purpose of this opportunity.

Meetings between President Weatherup, County Administrator Phil Church, Director of Community Development, Tourism and Planning Dave Turner, leaders from various business sectors, locally elected mayors and city supervisors, contractors of social services, representatives from local school districts and emergency services agencies, and other county lawmakers culminated in the development of a basic blueprint for how the county would move forward in the process of ‘Evaluation.

“We created the Office of Strategic Initiatives and asked Dave Turner to be its director to help ensure compliance,” Weatherup continued. “We have also convened a working group – deliberately designed to be independent of any political or peer pressure – to review the proposals. It remains vital for us to ensure that this process remains as fair and impartial as possible. »

Proposals are screened through computer software specifically designed to evaluate ARPA projects. They are then discussed, interrogated, and assessed by Director Turner and the task force before being presented to the appropriate legislative committee for further review and debate. Ultimately, they are presented to the full legislature for final analysis and a vote.

“This is a unique opportunity to shape the economic future of Oswego County in a truly impactful way,” Turner said. “With this in mind, we are committed to allocating these funds using a thorough and thoughtful process. We take our time – meticulously researching each of these proposals – and make systematic decisions; not only on their eligibility for funding, but also on their ability to improve and strengthen the economy of Oswego County.

This resolution approved at the June meeting of the Legislative Assembly represents the first set of winning proposals. Oswego County continues to accept project applications for ARPA funding.

Applications can be found online at: https://www.oswegocounty.com/government/county_legislature/american_rescue_plan.php or by contacting a local legislator.

For more information on ARPA funding, contact the Oswego County Office of Strategic Initiatives at OSI@oswegocounty.com or 315-349-8260.

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