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Uniting for Peace: Commonwealth, global partners celebrate International Youth Day 2024

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LONDON, Aug. 9, 2024 /PRNewswire/ —  On 12 August 2024, representatives from youth, peace-building, community, civil society, faith, and advocacy organisations will participate in a series of events and an online broadcast featuring young people doing extraordinary projects, sharing inspiring stories and opportunities for young people to get involved with transformational initiatives.

The Commonwealth Secretariat, in collaboration with the Khalili Foundation and Peace One Day, will host Youth Live, a five-hour broadcast at Marlborough House in London to celebrate International Youth Day, starting at 1 pm (BST). International Youth Day is a global platform to recognise the vital role young people play in fostering peace, democracy, and sustainable development.

Empowering Youth for a Peaceful and Inclusive Future

The broadcast will be available live on the Commonwealth Secretariat’s website, thecommonwealth.org and YouTube channel, and the Commonwealth Youth Programme’s social media channels on Facebook and X (formerly Twitter). Peace One Day is also broadcasting the event live at peaceoneday.org and on X, YouTube, Facebook and LinkedIn.

Acknowledging the challenges young people face in today’s technology-driven world, Commonwealth Secretary-General the Rt Hon Patricia Scotland KC said:

“I am always inspired by the energy, vision and determination of the Commonwealth’s young people. During the Commonwealth Year of Youth, we have found various ways to uplift, amplify and empower them. This broadcast is another way to showcase the work that they are doing, provide them with powerful opportunities to transform their lives and give them avenues to engender meaningful change and promote peace.

“During the broadcast on August 12, we will see the aspirations and shared values outlined in our Charter showcased by our brilliant young people.”

The Commonwealth Youth Programme has supported member countries with youth development work for over 50 years and young people will continue to be a focus leading up to the Commonwealth Heads of Government Meeting (CHOGM) in Samoa later this year.

Celebrating Youth Contributions to Peace and Development

Acknowledging the role young people play in fostering peace, the Executive Director of the Khalili Foundation, Waqas Ahmed, said:

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“At the Khalili Foundation, we enable peacebuilding through art, culture and education. Over five decades of working in this area has convinced us that peace is best achieved when driven and sustained by the youth of any given society. So, we are proud to be supporting Youth Live in partnership with the Commonwealth and we use this opportunity to encourage all youth with ideas for sustainable peacebuilding to apply to our Youth PEACE Awards as part of the Commonwealth Faith Festival.

He continued:

The Khalili Foundation supports and drives several internationally recognised projects that promote interfaith and intercultural relations, with a special focus on youth. It has been a partner of the Commonwealth since 2017, funding the successful Faith in the Commonwealth initiative.

From Clicks to Progress: Driving youth development through digital access

The broadcast will leverage digital spaces to engage young people across the Commonwealth in meaningful dialogues and activities. In addition, four youth-focused events that foster in- person connections and showcase youth development and engagement shall take place at Marlborough House simultaneously.

Key highlights include:

  • The launch of the Commonwealth Virtual Museum – a hybrid digital exhibition space that showcases youth innovations and promotes digital learning and an appreciation of youth heritage.
  • The Commonwealth Music Relay – a celebration of cultural diversity and unity through a music performance with young artists from various Commonwealth countries.
  • A celebration of 10 years of the Commonwealth Youth Council – putting the spotlight on youth leadership in the Commonwealth and its impact over the past decade.
  • The Centre for Resilience and Sustainable Development (CRSD) will unveil the final report for the Their Future, Our Action project, titled Their Future, Our Action and the COMPASS Model: A New Approach to Finance in Commonwealth Small Island Developing States.
  • The launch of the Youth PEACE Awards as part of the Commonwealth Faith Festival

The online and in-person events will offer youth organisations, youth networks, youth councils, partners, and global peace ambassadors a way to connect with the 1.5 billion young people across 56 Commonwealth countries. Stakeholders will also send goodwill messages of peace and address complex, multidimensional issues affecting youth.

 

View original content:https://www.prnewswire.co.uk/news-releases/uniting-for-peace-commonwealth-global-partners-celebrate-international-youth-day-2024-302218793.html

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SM Investments Receives Dual Accolades for Corporate Excellence and Sustainability

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PASAY CITY, PHILIPPINES, Nov. 26, 2024 /PRNewswire/ — SM Investments Corporation (SM Investments) was recently recognized at the Asia Corporate Excellence and Sustainability Awards 2024 (ACES), earning the titles of Asia’s Most Influential Companies and Top Sustainability Advocates in Asia.

“We are grateful for the recognition and are inspired to continue to work even harder to grow responsibly and sustainably with the communities that we serve,” said Frederic C. DyBuncio, President and Chief Executive Officer of SM Investments.

The ACES Council praised SM Investments for its comprehensive approach to sustainability, which is embedded in all aspects of its operations. They noted, “Their influence extends beyond business operations, as they set benchmarks for sustainability in the Philippines and across Asia. By building integrated communities, fostering partnerships with MSMEs, and prioritizing corporate governance, SM Investments exemplifies leadership that positively impacts not just its stakeholders, but the broader socio-economic landscape.”

The council also highlighted SM Investments’ commitment to renewable energy and its focus on diversity and inclusion within its workforce. The company operates the Philippine Geothermal Production Company, which runs geothermal fields in Tiwi, Albay, and Makban, Quezon, while exploring additional sources across six provinces.

With a workforce exceeding 130,000, SM Investments is notable for its gender diversity, with 63% of its employees being women, and 58% of leadership roles filled by women.

Established in 2014, the ACES Awards aim to showcase the achievements of Asian companies to the global business community, supported by a council of experts in academia, sustainability, and public policy.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.

For more information, please visit www.sminvestments.com

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Steering Committee of Ad Hoc Group of Sri Lanka Bondholders announces support for Sri Lanka’s debt restructuring terms

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — The Steering Committee of the Ad Hoc Group of Sri Lanka Bondholders (the “Ad Hoc Group” or the “Steering Committee”) is pleased to announce its support for the restructuring terms of all 11 series of Sri Lanka’s c.$12.55 billion in outstanding sovereign bonds, as detailed in the Republic of Sri Lanka’s Exchange Offer and Consent Solicitation Memorandum (the “Invitation”) published today.

The Ad Hoc Group represents a diverse and significant cross-section of international holders of Sri Lanka’s sovereign bonds, collectively holding approximately 40% of Sri Lanka’s total outstanding sovereign bonds.  The Steering Committee of the Ad Hoc Group includes, among others, funds and/or accounts managed or advised by Amundi Asset Management, Barings LLC, BlackRock and its subsidiaries, Eaton Vance Management, Fidelity International, Grantham, Mayo, Van Otterloo & Co. LLC, HBK Capital Management, Morgan Stanley Investment Management, Neuberger Berman, T. Rowe Price Associates, Inc., and Wellington Management. The Ad Hoc Group is advised by White & Case LLP as its legal counsel, and Rothschild & Co. as financial advisor. 

In the two and a half years following Sri Lanka’s default in 2022, the Ad Hoc Group has engaged in constructive dialogue with the Sri Lankan authorities to define the terms of a bond restructuring aimed at returning the country to the path of debt sustainability and ensuring fair and balanced treatment of bondholders.  The Ad Hoc Group has also cooperated with the Local Consortium of Sri Lanka (“LCSL”), which is understood to consist of 11 members and controls approximately 12% of Sri Lanka’s outstanding sovereign bonds, to seek a comprehensive and joint solution for Sri Lanka. Together, the Ad Hoc Group and the LCSL members represent over 50% of the total outstanding amount of Sri Lanka’s sovereign bonds.

This dialogue led to the Agreement in Principle (the “AIP”) on the core terms of the sovereign bond restructuring announced on September 19, 2024, reached with both the Ad Hoc Group and the LCSL. The IMF has subsequently confirmed that the terms are consistent with the debt targets and other key parameters of Sri Lanka’s IMF-supported program, and Sri Lanka’s Official Creditor Committee confirmed that the terms meet the comparability of treatment principle.

Early in the negotiations, the Steering Committee introduced two new instruments – Macro-Linked Bonds (MLBs) and Governance-Linked Bonds (GLBs) – whose payouts are linked, respectively, to the economic performance of Sri Lanka during the IMF program period and the achievement by Sri Lanka of certain concrete governance objectives. The Steering Committee is pleased that these innovative instruments have been included as key pillars of the restructuring solution reflected in the Invitation.

Since the announcement of the AIP, the Steering Committee and its advisors have worked collaboratively with the Sri Lankan government and its advisory team to refine the terms of the new securities to be offered to bondholders as part of the Invitation, whilst maintaining close cooperation with the LCSL.

The Steering Committee strongly supports the terms of the bond restructuring outlined in today’s Invitation, which reflect the key legal and financial terms outlined in the AIP. Members of the Steering Committee confirm their intention to participate in the Invitiation by tendering their outstanding bonds and providing their consents. They believe that the successful completion of the transactions contemplated by the Invitation and the debt relief provided under the restructuring terms will make a substantial contribution to ensuring the sustainability of Sri Lanka’s external debt in the medium term, paving the way for the country to achieve strong, sustainable, and inclusive economic growth.

The Steering Committee encourages all holders of Sri Lanka’s international bonds to review the documentation published by Sri Lanka today, note the respective instructions and deadlines embedded in the Invitation, and participate in the exchange as early as possible.

Inquiries relating to the position of the Steering Committee set forth in this announcement may be directed to the Group’s financial or legal advisors at [email protected] and/or [email protected].

Media inquiries should be directed to Greenbrook at the addresses below:

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Email / Telephone: [email protected] / +44 (0) 20 7952 2000

 

View original content:https://www.prnewswire.co.uk/news-releases/steering-committee-of-ad-hoc-group-of-sri-lanka-bondholders-announces-support-for-sri-lankas-debt-restructuring-terms-302315956.html

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Blue Ridge Partners Promotes Growth Strategist Nick Walmsley to Managing Director

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Global consultancy strengthens its European leadership team as part of ongoing growth strategy

LONDON, Nov. 26, 2024 /PRNewswire/ — Blue Ridge Partners is pleased to announce the promotion of Nick Walmsley to Managing Director, strengthening its European leadership team and commitment to client growth across the region.

Nick Walmsley, who joined Blue Ridge Partners in 2017, brings over 20 years of experience in growth strategy and investing. Throughout his tenure with the firm, Nick has consistently delivered exceptional results for clients, and his appointment to Managing Director reflects his dedication and impact. Prior to joining Blue Ridge Partners, Nick was founder and partner of a $500M AUM investment firm involved in over 200 transactions across Europe, North America, and Asia-Pacific. He began his career at Bain & Company, where he served in the private equity practice in both London and San Francisco.

“Nick has been an invaluable member of our team over the past seven years, demonstrating his ability to create value for our clients and our firm,” said Jim Corey, CEO of Blue Ridge Partners. “With his unique blend of consulting, operational, and investment management experience, Nick is exceptionally well-prepared to serve our clients as Managing Director.”

Blue Ridge Partners is delighted to have Nick step into this new role, further enhancing its capabilities to drive client success across Europe.

About Blue Ridge Partners:

Blue Ridge Partners is a global management consulting firm exclusively focused on helping companies accelerate profitable revenue growth. We have worked with more than 1,300 companies to improve their strategic understanding of markets and customers, deepen and expand their customer relationships, and enhance marketing and sales performance.

Our clients include over 130 private equity firms and their portfolio companies – supporting them during deal evaluation, due diligence, and post-acquisition. We have a reputation for helping companies grow faster by rolling up our sleeves, working collaboratively, and delivering measurable impact quickly and more efficiently than large consultancies.

For further information please contact us at [email protected] or visit us at www.blueridgepartners.com.

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