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OnePlus 13 set to launch in India in January in these colours and finishes | Tech NewsUAE Ambassador to Korea Abdulla Saif Al Nuaimi delivers a speech during the 53rd National Day event in Seoul, Monday. Korea Times photo by Kim Hyun-bin By Kim Hyun-bin The United Arab Emirates (UAE) marked its 53rd National Day with a grand event in Seoul on Monday, where UAE Ambassador to Korea Abdulla Saif Al Nuaimi celebrated the nation's formation as a federation on Dec. 2, 1971. "We are here this evening to celebrate the 53rd Eid Al Etihad (Day of the Union) of the United Arab Emirates," began Al Nuaimi. "The event marks the establishment of the UAE as a united federation on the second of December 1971. On that day, the late Sheikh Zayed bin Sultan Al Nahyan was elected the first UAE president and the UAE national flag was officially raised in all parts of the country." The ambassador reflected on the UAE's accomplishments, highlighting significant progress both locally and globally. These achievements include support and diversification of the national economy and advancements in key sectors such as technology, space, clean energy and culture. The ambassador also discussed its "We the UAE 2031" vision, launched in November 2022, which aims to guide the UAE's development for the next decade. "Through this vision, the UAE aims to strengthen its position as an attractive and influential economic center. It also seeks to be a global hub for sustainable development and innovation," he explained. "The UAE is also a living example of tolerance, coexistence and multiculturalism. Coexistence is a fundamental pillar in the fabric of Emirati society. More than 200 nationalities from all over the world live in harmony in the UAE despite the diversity of their cultures." He proudly mentioned the UAE's improved ranking in the Global Soft Power Index, entering the list of the top 10 countries in 2022. Focusing on the UAE's relationship with Korea, Al Nuaimi remarked, "In its ties with the global community, the UAE seeks to build strategic partnerships with other countries that are beneficial to both sides." He pointed out the significant progress in bilateral ties, mentioning high-level mechanisms and exchanges to strengthen the two's "special strategic partnership." "During the state visit of His Excellency President Yoon Suk Yeol to the UAE in January 2023, the leaders of the two countries agreed to elevate this partnership to its highest level," Al Nuaimi said. "The recent state visit by our President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to Seoul has played a significant role in expanding the areas of cooperation between the two sides." As the event concluded, Al Nuaimi expressed his gratitude to those who contributed to the strengthening of UAE-Korea relations. "As we celebrate the achievements made by UAE on this national occasion, we look forward to expanding the diversified partnerships between our two countries. I take this opportunity to express my gratitude to those who contributed to the strengthening of the relations between the UAE and the Republic of Korea," he said.
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What’s hollow and filled with hate? If you guessed a demented, disgruntled Democrat voter you’d be right. But, that also perfectly describes the Christmas ornaments a crafty Dem is giving to her Trump-voting relatives. You see, she’s making the ornaments and then sealing them up with ignorant, hateful, handwritten messages inside. She’s dreaming of a spite Christmas. (WATCH) If you’re struggling to decide what to get your Trump voting family for Christmas, why not make them a crocheted Christmas ornament with a horrible note inside that they’ll never see? Unhinged. pic.twitter.com/l8Bf8w1qgl Passive aggressive Christmas tree ornaments from the Left. Yes, this is petty and pathetic behavior from an adult. It’s crazy and childish. These commenters get it. How can they possibly believe themselves to be the good guys? They don’t believe anything. They’re just bitter, lonely, spoiled children begging for attention. If they weren’t fixated on Trump they would be whining about something else. Spoiled children are never happy. Just when I think I should be more tolerant of their mental illness and allow them a path to forgiveness they post crap like this. Perhaps not. Perhaps they need to be cut off until they come back to sanity without my help. We’ve also noticed that these mentally unhealthy Kamala voters exhibit the same telltale signs of Trump Derangement Syndrome. The ‘eyes’ have it. These people are fckn insane. The eyes. Always the eyes. Always with the googley eye glasses. They are sad, empty people who live joyless lives. Imagine being so invested in politics that this is how you spend your time. the eyes... it's always the eyes... It's always the eyes 👀 Crazy eyes every time. This obtuse ornament lady has added something else to look out for. Hint: that’s not a cross around her neck. Look a little closer. How can you think you're the "good guy" while also wearing an IUD as a necklace? And the IUD necklace TDS is morphing into very bizarre territory. But it is very entertaining. So, an IUD necklace definitely means the wearer has TDS. Some have noticed this mad arts and crafts idea likely involves the dark arts and witchcraft. This type of sh&t is exactly why woman used to get accused of witchcraft hundreds of years ago. Evil nonsense. She’s casting a spell. Making a cursed object. But what is the secret to manifestation? What you put out into the world comes back to you multiplied? 🤔 It sounds like black magic. This ‘witchy’ woman needs to seek mental health treatment. Hopefully, if she’s cured she’ll have second thoughts about the evil she’s put out into the world. Grandma voted for trump Crazy lady forgets she did this Grandma passed away Decoration breaks You look like an a$$hole Truth Yeah, you obviously missed what Christmas is all about in Sunday School. Not sure who I pity more. You now or your future self that may feel some regret or shame every time you see one of those ‘gifts’. The only person that really gets hurt in this action is you. God Bless TDS can drive people to do inhuman things. We’ve witnessed that over the last several years. It should be unimaginable that anyone would use a festive, joyous holiday as a vehicle for their anger and hate, but here we are. If you have an unhinged Dem relative give you a handmade ornament this Christmas or they visit and hangout around the tree, you might want to give your ornaments a little shake. They could be filled with hate.WATERLOO, Ontario and ATLANTA, Dec. 03, 2024 (GLOBE NEWSWIRE) — The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) announced its financial results for its fiscal 2025 third quarter ( ). All financial results referenced are in United States ( ) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles ( ). “Our business has grown organically while we’ve added complementary solutions to our Global Logistics Network by way of acquisition,” said Edward J. Ryan, Descartes’ CEO. “We listen to our customers about where best to invest to help them meet the many logistics and supply chain challenges they’re facing, which contributed to us completing two acquisitions this past quarter. The global trade landscape remains highly uncertain and complex for our customers, especially with potential upcoming changes to tariffs and sanctions and the resulting impact on trade. As always, our goal is to help our customers manage this complexity so that they can continue to focus on their core businesses.” As described in more detail below, key financial highlights for Descartes’ Q3FY25 included: Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures provided as a complement to financial results presented in accordance with GAAP. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). These items are considered by management to be outside Descartes’ ongoing operational results. We define Adjusted EBITDA as a percentage of revenues as the quotient, expressed as a percentage, from dividing Adjusted EBITDA for a period by revenues for the corresponding period. A reconciliation of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income determined in accordance with GAAP is provided later in this release. The following table summarizes Descartes’ results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions): As described in more detail below, key financial highlights for Descartes’ nine-month period ended October 31, 2024 ( ) included: Cash provided by operating activities of $158.5 million, up 1% from $156.9 million in 9MFY24. Cash provided by operating activities was negatively impacted in 9MFY25 by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition; The following table summarizes Descartes’ results in the categories specified below over 9MFY25 and 9MFY24 (unaudited, dollar amounts in millions): At October 31, 2024, Descartes had $181.3 million in cash. Cash decreased by $71.4 million in Q3FY25 and $139.7 million in 9MFY25. The table set forth below provides a summary of cash flows for Q3FY25 and 9MFY25 in millions of dollars: On September 17, 2024, Descartes acquired all of the shares of Assure Assist, Inc., doing business as MyCarrierPortal (“MCP”), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry. The purchase price for the acquisition was approximately $22.5 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $6.0 million based on MCP achieving revenue-based targets over the first two years post-acquisition. On October 11, 2024, Descartes acquired all of the shares of Sellercloud LLC and certain assets of Sellercloud Europe Ltd. (collectively referred to as “Sellercloud”), a leading provider of omnichannel ecommerce solutions. The purchase price for the acquisition was approximately $110.2 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $20.0 million based on Sellercloud achieving revenue-based targets over the first two years post-acquisition. Members of Descartes’ executive management team will host a conference call to discuss the company’s financial results at 5:30 p.m. ET on Tuesday, December 3, 2024. Designated numbers are +1 289 514 5100 and +1 800 717 1738 for Toll-Free in North America, using conference ID 07584. The company will simultaneously conduct an audio webcast on the Descartes website at Phone conference dial-in or webcast login is required approximately 10 minutes beforehand. Replays of the conference call will be available until December 10, 2024, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 07584#. An archived replay of the webcast will be available at Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at , and connect with us on and . Laurie McCauley (519) 746-2969 This release may contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relates to Descartes’ expectations concerning future revenues and earnings, and our projections for any future reductions in expenses or growth in margins and generation of cash; our assessment of the potential impact of geopolitical events, such as the ongoing conflict between Russia and Ukraine (the “Russia-Ukraine Conflict”), and between Israel and Hamas (“Israel-Hamas Conflict”), or other potentially catastrophic events, on our business, results of operations and financial condition; continued growth and acquisitions including our assessment of any increased opportunity for our products and services as a result of trends in the logistics and supply chain industries; rate of profitable growth and Adjusted EBITDA margin operating range; demand for Descartes’ solutions; growth of Descartes’ Global Logistics Network (“GLN”); customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing at levels generally consistent with those experienced historically; the Russia-Ukraine Conflict and Israel-Hamas Conflict not having a material negative impact on shipment volumes or on the demand for the products and services of Descartes by its customers and the ability of those customers to continue to pay for those products and services; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes’ continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes’ continued ability to identify and source attractive and executable business combination opportunities; Descartes’ ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes’ business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes’ ability to successfully identify and execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses associated with and revenues from acquisitions; the impact of network failures, information security breaches or other cyber-security threats; disruptions in the movement of freight and a decline in shipment volumes including as a result of contagious illness outbreaks; a deterioration of general economic conditions or instability in the financial markets accompanied by a decrease in spending by our customers; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; changes in customer behaviour and expectations; Descartes’ ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes’ ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes’ market capitalization; and other factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes’ most recently filed Management’s Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results. The term “Adjusted EBITDA” refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage. Management considers these non-operating expenses to be outside the scope of Descartes’ ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed seven acquisitions since the beginning of fiscal 2024 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q3FY25, Q2FY25, Q1FY25, Q4FY24, and Q3FY24, which we believe is the most directly comparable GAAP measure. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for 9MFY25 and 9MFY24, which we believe is the most directly comparable GAAP measure. (US dollars in thousands; US GAAP; Unaudited) (US dollars in thousands, except per share and weighted average share amounts; US GAAP; Unaudited) (US dollars in thousands; US GAAP; Unaudited)None
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