Latest news with #DBM
India Gazette
2 days ago
- Business
- India Gazette
Uttarakhand CM sanctions over Rs 1,269 lakh for infrastructure projects in state
Dehradun (Uttarakhand) [India], June 18 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami has approved Rs 1,269 lakh for various infrastructure projects in Nainital and Rudraprayag districts. The Chief Minister has approved the sanction of an amount of Rs 505.71 lakh for the construction of motor road from Dooni Khal to Rati Ghat (Padli) in Betal Ghat development block of Nainital assembly constituency of Nainital district, a release said on Wednesday. He approved Rs 444.66 lakh for strengthening and 'road safety work by DBM and BC in km 01 to 05 of Khankra Chhatikhal motor road in Augustmuni development block of Rudraprayag assembly constituency of Rudraprayag district', Rs 319.20 lakh for the construction work of 24 m extension RCC bridge on Nihal river in Ramnagar-Kaladhungi-Haldwani-Kathgodag-Chorgaliya-Sitapur-Bijti state highway no. 41 km 36 under Haldwani development block of Kaladhungi assembly constituency of Nainital district. The Chief Minister approved an increase in the dearness allowance and dearness relief from the current rate of 53 percent to 55 percent from January 01, 2025 to the regular employees and pensioners working in the public undertakings/corporations/bodies operating in the state, where the seventh pay scale is applicable, like government employees. The Chief Minister approved the sanction of an amount of Rs 475.25 lakh for the construction work of the administrative building of Police Station Deghat in Almora district. On Tuesday CM Dhami approved an amount of Rs 344.98 lakh for the strengthening and asphalting work of Tugdunda Bhainswada motor road in development block Pabo of assembly constituency Pauri of Pauri Garhwal. The state government also approved Rs 512.46 lakh for the construction work of 48m span steel girder bridge over Ragganga river in Malkot Kalimati Sera Tiwakhark motor road in development block Gairsain of assembly constituency Karnaprayag of Chamoli district, according to a release. An amount of Rs 183.47 lakh was also approved for the reconstruction work of Nigam Nala Wala road by PC and new construction work of road from Soban Ram's house to Suresh Bhatt's house in Kaladhungi assembly constituency of Nainital district and Rs 528.91 lakh was approved for the new construction work of Chaudmanya-Kamatoli motor road in assembly constituency Gangolihat. The Chief Minister has also approved increase in the annual approved budget from Rs. 5 crore to Rs. 8 crore for smooth functioning of Sainik School, Ghodakhal, Nainital and to improve the financial condition of the school. The Chief Minister approved the expenditure of Rs. 23.667 crore for expansion and modernization of fire services in the state. (ANI)
Hamilton Spectator
13-06-2025
- Business
- Hamilton Spectator
Doman Building Materials Group Ltd. Announces Quarterly Dividend
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, June 13, 2025 (GLOBE NEWSWIRE) — Doman Building Materials Group Ltd. ('Doman' or 'the Company') (TSX: DBM) is pleased to announce that its board of directors has declared a dividend for the 61st consecutive quarter, which will be paid on July 15, 2025, to shareholders of record on June 30, 2025, of $0.14 per share. About Doman Building Materials Group Ltd. Founded in 1989, Doman is headquartered in Vancouver, British Columbia, and trades on the Toronto Stock Exchange under the symbol DBM. As Canada's only fully integrated national distributor in the building materials and related products sector, Doman operates several distinct divisions with multiple treating plants, planing and specialty facilities and distribution centres coast-to-coast in all major cities across Canada and coast-to-coast across the United States. Strategically located across Canada, Doman Building Materials Canada operates distribution centres coast-to-coast, and Doman Treated Wood Canada operates multiple treating plants near major cities. In the United States: headquartered in Dallas, Texas, Doman Lumber operates 21 treating plants, two specialty planing mills and five specialty sawmills located in nine states, distributing, producing and treating lumber, fencing and building material servicing the central U.S.; Doman Tucker Lumber operates three treating plants, specialty sawmilling operations and a captive trucking fleet serving the U.S. east coast; Doman Building Materials USA and Doman Treated Wood USA serve the U.S. west coast with multiple locations in California and Oregon; and in the state of Hawaii the Honsador Building Products Group services 15 locations across all the islands. The Company's Canadian operations also include ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through its Doman Timber operations. For additional information on Doman Building Materials Group Ltd., please refer to the Company's filings on SEDAR+ and the Company's website . For further information regarding Doman please contact: Ali Mahdavi Investor Relations 416-962-3300 Certain statements in this press release may constitute 'forward-looking' statements. When used in this press release, forward-looking statements often but not always, can be identified by the use of forward-looking words such as, including but not limited to, 'may', 'will', 'would', 'should', 'expect', 'believe', 'plan', 'intend', 'anticipate', 'predict', 'remain', 'estimate', 'potential', 'forecast', 'budget', 'schedule', 'continue', 'could', 'might', 'project', 'targeting', 'future' and other similar terminology or the negative or inverse of such words or terminology. Forward-looking information in this news release includes, without limitation, statements with respect to: the ultimate impact (express or implied) of: a) fluctuations in commodity and construction materials pricing; b) the performance of recently acquired businesses; c) the performance of the Canadian and US economies; and d) the impact of COVID-19 on the Company's operational and financial results and on consumer behaviour and economic activity, including but not limited to the first quarter and balance of 2025 results. These forward-looking statements reflect the current expectations of Doman's management regarding future events and operating performance, but involve other known and unknown or unpredictable risks, uncertainties and other factors which may cause the actual results, performance or achievements of Doman, including but not limited, to sales, earnings, cash flow from operations, EBITDA generated, dividends generated or paid by Doman, including whether at the rate as of the date hereof or some other dividend rate in the future which may be lower than either of the preceding rates discussed therein, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Actual events could differ materially from those projected herein and depend on a number of factors and risks. These factors and risks include but are not limited to those set out in the Company's annual information form dated March 31, 2025, and other public filings on the Canadian Securities Administrator's website at . By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. In addition, a number of material factors or assumptions were utilized or applied in making the forward-looking statements, and may include, but are not limited to, assumptions regarding the performance of the Canadian and U.S. economies, the relative stability of or level of interest rates, exchange rates, volatility of commodity prices, availability or more limited availability of access to equity and debt capital markets to fund, at acceptable costs, Doman's future growth plans, the implementation and success of the integration of Doman's acquisitions and customer and supplier retention, the ability of Doman to refinance its debts as they mature, the Canadian and United States housing and building materials markets; the direct and indirect effect of the U.S. housing market and economy; impacts of changes in international trade policies including tariffs on the Company, its suppliers, customers, cost of goods, sales pricing and the overall economic environment; post-acquisition operation of a business; exchange rate fluctuations between the Canadian and US dollar; retention of key personnel; Doman's ability to sustain its level of sales and earnings margins; Doman's ability to grow its business long term and to manage its growth; Doman's management information systems upon which it is dependent are not impaired or compromised by breaches of Doman's cybersecurity; Doman's insurance is sufficient to cover losses that may occur as a result of its operations; international trade and tariff risks, political risks, the amount of Doman's cash flow from operations; tax laws; and the extent of Doman's future acquisitions and capital spending requirements or planning as well as the general level of economic activity, in Canada and the U.S., and abroad, discretionary spending and unemployment levels; the effect of general economic conditions, including market demand for Doman's products, and prices for such products; the effect of forestry, land use, environmental and other governmental regulations; the risk of losses from fires, floods and other natural disasters and unemployment levels; social and governance risks do not adversely affect the Company's reputation and shareholder, employee, customer, supplier or third party relationships; climate change does not adversely affect the Company's business and/or damage its reputation; and the Company is not adversely impacted by disruptive technologies or competitors deploying same. There is a risk that some or all of these assumptions may prove to be incorrect. These and other factors could cause or contribute to actual results differing materially from those contemplated by forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. These forward-looking statements speak only as of the date of this press release. We caution that the foregoing factors that may affect future results are not exhaustive. When relying on our forward-looking statements to make decisions with respect to Doman, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Neither Doman nor any of its associates or directors, officers, partners, affiliates, or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in these communications will actually occur. You are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable securities laws and legal or regulatory obligations, Doman is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
GMA Network
10-06-2025
- Business
- GMA Network
DBM released P1.347B for E-gates project
The Department of Budget and Management (DBM) on Tuesday announced it has released a total of P1.347 billion to fund the ongoing Electronic Gates (E-gates) project at major international gateways across the country. The E-gates project modernizes and digitizes the primary inspection process at the country's international gateways to further strengthen national security, improve efficiency, and elevate the overall experience of passengers while addressing issues of immigration congestion, according to the DBM. "To fulfill President Bongbong Marcos' directive of providing convenience to travelers, whether locals or foreign visitors, and reduce long queues at immigration counters, the DBM already released the budget allocation for the E-gates project for 2025 amounting to P1.347 billion," said Budget Secretary Amenah Pangandaman. "I would also like to note that in 2024, we were also able to release P1.976 billion to the Bureau of Immigration (BI) for them to procure for the phase 1 of the project. Magpapatuloy po 'yan hanggang phase 3 sa 2026. This year, nasa phase 2 na po tayo and we are appealing to the BI na tapusin na agad ang procurement process para maging fully operational na ang E-gates project as soon as possible," added the Budget chief. Several existing e-gates were installed at the Ninoy Aquino International Airport (NAIA) and will be expanded to other premier international gateways in the country's, according to the DBM. The expansion of the E-gates project is set to enhance the efficiency of security and immigration processes by catering to arriving and departing passengers, regardless of their citizenship, the Budget Department said. The project is expected to replace 50% of the overall manned inspection counters with modernized technology. Based on the project's modernization plan, the deployment of e-gates and corresponding funding provision will be distributed to the following airports/seaport: NAIA Terminals I & III Clark International Airport Mactan Cebu International Airport Davao International Airport Kalibo International Airport Boracay-Caticlan International Airport Zamboanga International Seaport Laoag International Airport Bohol-Panglao International Airport Puerto Princesa International Airport Meanwhile, the target date for the full employment of operational e-gates is set on or before December 15, 2025, according to the DBM.— AOL, GMA Integrated News
Business Wire
03-06-2025
- Business
- Business Wire
Altimetrik Named a Major Contender in Everest Group's Banking and Financial Services IT Services Specialists PEAK Matrix® Assessment
DETROIT--(BUSINESS WIRE)-- Altimetrik, a pure-play digital business company, has been recognized as a 'Major Contender' in Everest Group's inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025. Altimetrik's Digital Business Methodology (DBM) and AI-first solutions have proven to be a valuable approach for financial institutions seeking scalable digital solutions focused on customer outcomes. The Everest Group assessment evaluated 30 specialist IT service providers based on their market impact, vision, and capability, positioning Altimetrik among the top service providers in this space. 'Altimetrik's use of its Digital Business Methodology (DBM) and its approach to co-developing scalable digital solutions have supported transformation initiatives within banking and financial services,' said Pranati Dave, Practice Director at Everest Group. 'Clients have noted its ability to rapidly build Minimum Viable Products (MVPs) and show early indicators of business value, particularly in areas such as compliance, payments modernization, and generative AI. These strengths, along with its engineering capabilities and a balanced focus on both horizontal technologies and domain-specific needs, have contributed to Altimetrik's recognition as a Major Contender in Everest Group's inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025.' Altimetrik's key strengths highlighted in the assessment include: Strong digital product engineering capabilities Ability to rapidly deliver measurable customer outcomes through short sprints Balanced mix of horizontal and industry-specific accelerators tailored to BFS needs Strategic focus on high-value transformation engagements Experience working with diverse BFS clientele including banks, payment processors, and FinTechs 'Financial institutions are leading the way in digital business, with AI accelerating change across the sector — from modernizing legacy systems to enabling smarter decision-making, hyper-personalization, and real-time operations,' said Raj Sundaresan, CEO at Altimetrik. 'This recognition from Everest Group validates our engineering-led, AI-first approach to helping BFS clients address compliance, security, customer experience, and operational agility. By combining deep domain expertise with advanced data and AI capabilities, we not only accelerate innovation but also ensure measurable value from AI investments. Our success in areas like platform modernization, intelligent client onboarding, and real-time payments implementation reflects our commitment to building AI-first, scalable, high-impact solutions that drive digital solutions at speed and scale.' Altimetrik's AI-focused, data driven, collaborative, and agile methodology has proven particularly effective in the BFS sector, with case studies highlighting significant improvements in operational efficiency. In one client engagement, Altimetrik reduced commercial client onboarding time from over 60 days to just two days, while another implementation improved payment transaction processing speed 20 times over. The company continues to invest in technology capability centers focused on AI, product engineering, data engineering, analytics, quality engineering, and DevSecOps to further enhance its offerings to BFS clients. Read the full report and learn more about Altimetrik's capabilities in the banking and financial services sector. Disclaimer Licensed extracts taken from Everest Group's PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Altimetrik Altimetrik is a pure-play digital business services company. We focus on delivering business outcomes with an AI-first, agile, product-oriented approach. Our first, proven digital business methodology provides a blueprint to develop, scale, and launch new products to market faster. Our team of 6,000+ practitioners with software, data, and cloud skills builds an agile engineering culture of collaboration and innovation that modernizes technology and builds new business models in bite-size increments. As a strategic partner and catalyst, Altimetrik quickly delivers results without disruption. Learn more at About Everest Group Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at
Yahoo
03-06-2025
- Business
- Yahoo
Posts mispresent budget data to falsely claim Philippines 'out of money'
The claim stems from a May 18, 2025 Tagalog-language Facebook post published by Jay Sonza, a former broadcaster and supporter of former president Rodrigo Duterte who has previously spread misinformation debunked by AFP. Sonza says the Philippine government is "out of money", as 90 percent of the year's national budget -- which stands at a record 6.33 trillion pesos (around US$114 billion) -- had already been "released" by April (archived link). "It's only May, and the government only has 10 percent of its funds left," he adds, pointing to government borrowing in February and April as signs of financial depletion. The claim surfaced a week after the Philippine mid-term elections on May 12, which delivered disappointing results for President Ferdinand Marcos's party (archived link). Seen as a referendum on the current administration, the polls saw only six of the 11 Marcos-endorsed candidates win Senate seats (archived link). They will join 12 incumbent senators as jurors in the impeachment trial of embattled Vice President Sara Duterte, which could see the Marcos rival permanently barred from public office if convicted. The claim has spread in similar posts on Facebook, drawing comments from users who believed the government had indeed depleted its annual budget. "Where did all that money go?" one said. Another commented: "We must hold another People Power to replace them," alluding to the peaceful uprising that toppled the dictatorship of the president's late father, Ferdinand Marcos Sr. The elder Marcos's 20-year rule left the country impoverished, with an estimated US$10 billion stolen from state coffers (archived link). But multiple experts told AFP the claim misrepresents how the government plans and uses the national budget. Public finance specialist Janet Cuenca of the Ateneo School of Government told AFP on May 27 that the figure cited by Sonza refers to "allotment releases" -- a notice that funding has been reserved for agencies -- and not actual spending (archived link). She said this practice allows agencies to begin planning and committing to expenses, such as signing contracts or hiring staff. They must still provide proper documentation to the Department of Budget and Management (DBM) before they are authorised to access the funds. Goddes Hope Libiran, undersecretary of the DBM, said the early release of funds is a "consistent practice" backed by data from the past decade (archived link). "(This) does not mean the funds have been spent or 'used up,'" Libiran told AFP on May 20. "It only means the funds are readily available to agencies so they can implement their specific programs, activities and projects without delay." Data from the Bureau of the Treasury show actual spending from January to April 2025 amounted to 1.21 trillion pesos (US$21.8 billion) -- just under 20 percent of the approved national budget (archived link). Economist Victor Abola of the University of Asia and the Pacific also said the idea that government borrowing early in the year means funds have run dry is "misinformation" (archived link). "The government tries to pre-fund its needs to avoid paying higher interest rates," he told AFP on May 21, explaining that borrowing early helps manage costs when rates are expected to rise later in the year. "It's standard practice to pre-fund, sometimes even in the previous year," he added, noting the national government cannot simply run out of funds because "it can always go to the central bank if needed." The Philippine central bank can help manage cash flow by providing liquidity through reserves or other financing options (archived link). AFP has previously debunked claims about the Philippines' economic standing.
