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Should Proprietary Trading Firms Be Regulated?

Benzinga

By Gerelyn Terzo, Benzinga In what can only be described as an uncertain period for online traders recently, regulators now have proprietary trading, or prop trading, on their radar. Prop trading involves a firm using its own capital to trade in order to strengthen its own balance sheet. While formalized prop trading dates back to the 1980s, the market has evolved over the years from brick-and-mortar settings to online opportunities for novice and sophisticated traders alike. Today, it’s a multi-billion dollar market with a compound annual growth rate (CAGR) of 4.2% attached for 2018-2021. Prop traders play an important role in the grand scheme, lending liquidity, efficiency and price stability to markets so that they can run more smoothly than they otherwise would. Whether or not they’re seen, prop traders pave the way for other traders to execute trades more seamlessly. The regulation around prop trading is somewhat murky. The important thing to note is that prop traders aren’t trading their clients’ capital. Instead, they’re trading the capital of the institution that’s funding or employing them with the goal of making money for the firm, whether it’s a hedge fund, investment bank or some other financial institution. Prop traders have a history of making risky bets with high amounts of leverage using the firm’s money. However, after the 2008 financial crisis, U.S. regulators took notice, introducing policies like the Dodd-Frank Act and the Volcker Rule, which took aim at banks, including their prop trading activities. The rise of independent prop trading firms began, as these weren’t subject to the same narrow guardrails as their larger institutional peers. Most recently, regulators are reportedly taking a deeper interest in the prop trading industry as trader-funded firms grow in popularity, capital and influence. The industry was also thrust into the spotlight in 2023 after the Commodity Futures Trading Commission (CFTC) and Canadian regulators charged My Forex Funds with fraud. According to Finance Magnates, the European Securities and Markets Authority (ESMA) – a pan-European supranational regulator – has now taken the baton, examining prop trading firms and speaking with stakeholders to ascertain what greater oversight of this industry might resemble. These conversations are reportedly occurring both in Europe and in the United States. Not surprisingly, industry participants are abuzz, envisioning a future with more rules. Prop trading regulation varies depending on the jurisdiction, but for the most part, companies are required to abide by consumer and data protection laws, as well as other financial and trading regulations. For example, funded traders act with the prop trading firm’s capital, not their own, and consequently, they fall under the bucket of remote workers. Therefore, the prop trading firm must assign them accordingly, whether it’s as an independent contractor or employee. Plus, prop-trading firms must comply with any anti-money laundering (AML) requirements in their respective jurisdictions, considering trader payouts involve third-party providers. Additionally, prop trading firms may also be required to adhere to know-your-customer (KYC) regulations to ensure a trader is who they say they are. In Singapore, the activity does not fall under the Singapore Securities and Futures Act 2001. However, independent trader-funded firms like PipFarm willingly follow various regulations designed to protect consumers, such as the Singapore Consumer Protection (Fair Trading) Act 2003. Prop Trading Regulation Pros In any industry, nefarious actors have a way of ruining the bunch. This is prolific in financial markets, and prop trading is no exception. In this sense, the introduction of tighter regulation would be a welcome development, as it would help to remove bad or unfit actors who give the industry a bad rap. Narrower regulatory guardrails could also provide a more accelerated path to dispute resolution between traders and platforms, offering both sides clear and fair steps to avoid further escalation, including arbitrarily disqualifying traders amid the tacking on of additional fees. If prop-trading firms are required to obtain certain licensing to support prop trading, it would introduce greater transparency for stakeholders, including traders. Also, it could trigger changes in the treatment of capital. For example, regulation could enable investors to direct capital into prop trading firms, a paradigm shift from the current model in which firms are generally self-funded. Additionally, rules might limit the ways in which prop firms are allowed to use available capital in an attempt to quash any unscrupulous behavior by firms. For example, capital requirements might dictate that prop firms earmark a certain amount of outside investment capital to pay traders, including a fee model in which a specific percentage of revenue or dollar amount is directed toward each trader or something along those lines. Prop Trading Regulation Cons When regulators don’t understand complex sectors like prop trading, they sometimes run the risk of swinging too far and doing more harm than good. Additionally, many prop trading firms are independent in nature and, therefore, don’t have the backing of a bank’s balance sheet to support them. Any severe regulatory requirements could cause undue harm to these firms by placing unrealistic expectations on them surrounding the implementation of risk management measures. There could be varying degrees of fallout, not least resulting in less available capital for trader-funded firms to share with traders. Additionally, high licensing and registration fees could trigger a chain reaction, causing a bottleneck in capital as well as diminished control over capital. In a worst-case scenario, excessive oversight would create a financial strain that could cause some law-abiding employers to shutter their operations. Or, one potential unintended consequence could be the prop trading firms would relocate offshore where they wouldn’t be subject to the same harsh regulation. It’s not as though there isn’t a precedent for it, most notably in the contracts for difference (CFD) trading industry. In recent years, EU, UK and Australian regulators attached onerous leverage caps on CFDs. Rather than sacrifice profits, industry brokers responded by relocating their businesses offshore or setting up shop in more regulatory friendly jurisdictions. PipFarm Offers Traders A More Secure Way To Trade PipFarm has a platform that seeks to usher in the next generation of forex traders with its battle-tested cTrader platform, known for its stability and user friendliness for traders at all levels. Not only does PipFarm offer qualifying traders an opportunity for funded trader programs, but it does so in a way that makes traders feel secure. By taking a proactive approach to risk management and sustainability, PipFarm is clearly in this market for the long haul. Traders who are interested in aligning themselves with a firm that prioritizes the trader experience might want to consider making their trading ambitions a reality with PipFarm. Featured photo by herbinisaac on Pixabay. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 03, 2024 08:50 AM Eastern Daylight Time

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Maintaining Changed Behaviour With Incentives: The Potential Of Web 3.0 In Mental Health Treatment Through Digital Token Rewards

Benzinga

By Kyle Anthony, Benzinga Initiating change in one’s life often begins with acquiring the fortitude to reflect and realize that it is needed, followed by taking action to actualize it. However, enacting change and achieving progress is never linear, and for many, support is needed along the pathway to betterment. In the field of substance abuse treatment, contingency management has shown evidence of being an efficacious methodology for treating the problem behavior of individuals. The learnings from contingency management in behavioral treatment may have some applicability in supporting mental health. Elevate Health and Wellness, a clinic specializing in mental health and addiction treatment for adolescents and adults, is exploring this possibility by leveraging the capabilities of Web 3.0 in their treatment plans with patients. Contingency Management Explained Dr. Nancy M. Petry, Ph.D.’s extensive research on contingency management highlights its efficacious nature is rooted in the principles of basic behavioral analysis, more specifically, habit formation. Research on the success of contingency management as a treatment methodology has been proven in controlled trials and qualified by stakeholders in the field of psychology. In The Psychiatrist Journal of May 2011, Dr. Petry published an article entitled, Contingency Management: What it is and Why Psychiatrists Should Want to Use It, detailing the evidence-based research done on the behavioral treatment and the cross-sectional nature of its success, reducing usage in opioids, alcohol, marijuana and even cigarettes by patients. Transference Of Learning: Contingency Management And Mental Health The proven success of contingency management in substance use disorders may have some application in facilitating the treatment of some mental health issues within patients. Since the onset of the pandemic, 38% more Americans are participating in mental health care treatment of some kind, whether that be inpatient or outpatient services. But what mental health professionals have noticed is that youth mental health issues are increasing. In 2021, more than 4 in 10 high school students felt persistently sad or hopeless, with more than 1 in 5 students seriously considering attempting suicide. Today's youth are more interconnected through various technological devices and platforms; as such, reaching and engaging with them has to be done through a medium that is ever-present in their lives. Web 3.0 represents a newfound avenue for mental health treatment to occur in a way that resonates with today’s youth while also being effective. By using Web 3.0 as a conduit for contingency management, individuals can receive counseling, encouragement and incentives around specific mental health issues. In essence, using technology to treat individuals empathetically while also incentivizing them to continue treatment as they navigate their mental health journey. Leveraging Technology For Mental Health Implementing blockchain technology to increase mental health services for those who need it instantly at both outpatient and inpatient levels is part of Elevate Health and Wellness' vision as a dual-licensed outpatient clinic specializing in mental health and addiction treatment for adolescents and adults. Tentatively launching in 2024, the company says its token will be used to increase awareness, build a stronger supportive community and connect individuals with mental health disorders and addiction with therapists and psychiatrists instantly. Blockchain-based software will also allow for the creation of smart insurance contracts (i.e., contracts that are self-executing, in which the terms of the agreement are directly written into lines of code) for mental health and wellness to provide an alternative to conventional insurance. Digital token rewards are already being leveraged by brands through Web 3.0 loyalty programs, and they have the potential to be powerful tools for promoting sustainable behaviors. With contingent management strategies suggesting that desirable behaviors should be reinforced quickly, digital tokens can help implement these strategies effectively through rewards that can be awarded quickly, tracked accurately and redeemed easily. As such, embedding contingency management treatment attributes within Elevate’s token could help improve outcomes. Given the greater ownership individuals will have of their information in a Web 3.0 world, therapists and psychiatrists can design treatment plans to specifically reward their patients throughout their treatment plan. The Web 3.0 Future Of Mental Health With Contingent Management Web 3.0 holds the potential to transform healthcare by creating a more patient-centric and personalized treatment plan for individuals. With behavioral treatments like contingency management available to individuals, the ability to form and embed positive habits can help improve patient outcomes. Elevate Health and Wellness is fully prepared to take advantage of this technological advancement for the betterment of its patients and those who need its services the most. Featured photo by Valeriia Miller on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 03, 2024 08:50 AM Eastern Daylight Time

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West Africa Has Long Had A Wealth Of Gold Resources – Companies Are Now Looking To Regions Like Liberia For Their As-Yet Untapped Potential

Benzinga

By Anthony Termini, Benzinga With a favorable geology, a growing body of knowledge and straightforward permitting processes, West Africa has been an attractive destination for gold miners, experiencing significant economic growth over the last 20 years. Estimates compiled by exploration company Pasofino Gold (OTC: EFRGF) suggest that the region has grown more than fivefold in that time. Ancient rock formations and greenstone belts that are known to host gold mineralization can be found in the region, similar in age and formation to those found in other major gold mining regions such as South Africa, Australia and Canada. The growth of mining in the region has led governments to implement standards and policies to ensure gold is mined responsibly and local communities are supported. According to the United States Agency for International Development ( USAID ), “West Africa is ripe for doing business.” For investors, one of the most promising countries in West Africa may be Liberia, which Pasofino Gold refers to as “the last untapped gold frontier in West Africa” due to its unexplored potential and favorable economic environment. Liberia is among the smaller economies in the region that could have the potential for significant growth. Founded in the early 19th century, the Republic of Liberia has a business-friendly government and currently receives one of the highest levels of direct foreign investment in West Africa. According to the World Bank, net investment inflows represented 24% of Liberia’s 2022 GDP. Pasofino Gold estimates that more than $18 billion has flowed into the country in recent years. This is significant for investors eyeing opportunities in Liberia. Factors Driving Economic Growth In Liberia The World Bank reports that Liberian GDP is expected to grow by 5.5% through the remainder of 2024 and by nearly 6% in 2025 and 2026. Mining plays a significant role in Liberia’s GDP. Research conducted by Africa Mining iQ shows that most of the mineral wealth in the region remains undeveloped. For investors, this means that “Liberia’s importance in the global mineral economy will increase in the future.” In fact, two of the richest gold-bearing rock types (Archaean and Birimian) in West Africa are located in Liberia, and the Birimian geological region is one of the largest gold producing areas in the world. Adding to the attraction for mining companies is the fact that the Liberian government is pro-mining. The Liberian Government Works With Businesses To Improve Communities Mining contributes about 10% to Liberia’s GDP, so it is a very important industry for the country. Mining is a government priority and industry regulations are intended to incentivize exports. This is partly because exports help finance the country’s food imports. This governmental framework of complimenting economic and social considerations helps set the foundation for solid investment opportunities in Liberia. Mining companies work closely with local governments and communities to ensure that their operations minimize the environmental impact on the region and local artisanal and small-scale mining communities, whose livelihoods would otherwise be vulnerable to large-scale mining operations. An example of this relationship is seen in the feasibility studies of Pasofino Gold, a Canada-based mining company that owns the Dugbe Gold Project, located about 50 miles from the port of Greenville in Liberia. As part of their Mineral Development Agreement (MDA) with the government, Pasofino has conducted environmental and social impact assessments that provide for training, infrastructure development, and social services provision for local communities. Such considerations are the result of a comprehensive and ongoing engagement process that includes key government agencies. While Pasofino owns the Dugbe Gold Project, the government of Liberia will be issued a 10% carried interest in the mine when it becomes fully operational. Arrangements like these help the Liberian government recoup the investments it makes to develop the public infrastructure and services that enhance the feasibility of a mining venture. They also demonstrate the cooperative landscape created by the government to encourage foreign investment in the mining sector. Cooperation like this helps Liberia attract investment that is vital to the region’s economic growth. For Pasofino Gold it helps support the feasibility of its mining operations, which appear to be significant. When Pasofino completed its feasibility study of the Dugbe gold project, the spot price of gold was approximately $1,780 an ounce. At that time, the net present value of the mine’s output was estimated to be worth approximately $690 million. Today, gold trades at closer to $2,400 per ounce, boosting the potential value of the Dugbe mine’s output to almost $1.8 billion. The Long-term Prospects For Pasofino Gold In Liberia Pasofino’s MDA with the Liberian government – established with an initial 25-year term – can be extended as necessary to optimize output from the Dugbe mine. With such prospects, Pasofino continues to develop its assets in the region and ensure it is fully equipped to capitalize. Recently, it added Emre Kayışoğlu to its Board of Directors. Mr. Kayışoğlu brings a demonstrated history of success in the mining & metals industry and a proven expertise in driving business growth, fostering international partnerships, and delivering exceptional results. Well financed by its joint venture partner and majority shareholder in its Dugbe gold project, Hummingbird Resources plc (OTC: HUMRF), Pasofino is poised to optimize its definitive feasibility study this year. More importantly, for the future, it has identified several other opportunities to help it maximize the value of the Dugbe mine and to reduce the project’s overall capital expense profile. These should produce long-term benefits for both Pasofino and the people of Liberia. Featured photo by Zlaťáky.cz on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 03, 2024 08:45 AM Eastern Daylight Time

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This Biotech Just Cleared A Big FDA Hurdle In Its Quest To Improve ADHD Treatment

Benzinga

By Johnny Rice, Benzinga Dr. Ann Childress and Shane Schaffer, Chairman & CEO of Cingulate (NASDAQ: CING), were recently guests on Benzinga’s All Access. Cingulate is a biotechnology company developing drugs for a range of underserved conditions. The company has developed a proprietary technology called Precision Timed Release™ (PTR™). The technology allows a single pill to contain multiple doses of a drug, relieving the pill burden many people with chronic conditions suffer. Cingulate was just given clearance by the FDA to seek full approval for its lead candidate, CTx-1301. Watch the full interview here: Featured photo by Hal Gatewood on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 03, 2024 08:30 AM Eastern Daylight Time

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Benchmark International Successfully Facilitated the Transaction Between Z Consulting, LLC and The Bridge

Benchmark International

Benchmark International is pleased to announce the transaction between Z Consulting, LLC and The Bridge. Z Consulting is a boutique consulting firm focused on helping companies transform their business practices to achieve ultimate effectiveness and efficiency, doing so at their acceptable pace of change. They offer their clients solutions in all fields of management consulting: strategy, organization/culture design, processes and change management. The Bridge is a team of innovative strategy and technology consulting professionals who come together to empower leaders to drive remarkable progress in transforming their teams, organizations, and industries. “Over the last 15+ years, Deb has built Z Consulting into a nationally recognized leader in the healthcare industry. The strategic combination with The Bridge will allow her to continue to grow the business while leveraging The Bridge’s expertise and innovation. This is a great match between two great companies!” – Kevin Barrett, Transaction Director, Benchmark International Americas: Sam Smoot at +1 (813) 898 2350/ Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 02, 2024 05:16 PM Eastern Daylight Time

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Benchmark International Successfully Facilitated the Transaction Between Satex Plumbing, Inc. and Bleuwave General Contracting, LLC

Benchmark International

Benchmark International is pleased to announce the transaction between Satex Plumbing, Inc. and Bleuwave General Contracting, LLC. The transaction represents a strategic expansion for Bleuwave General Contracting, LLC, as it works to achieve scale through acquisitions and expand into the Texas market. Satex Plumbing, Inc. was founded in 1983. Initially, the company focused on residential projects, but its founder decided to focus on commercial customers after realizing the potential to specialize in commercial projects. With over two decades of commercial project experience, including repairs, remodels, and new construction, Satex began specializing in medical, retail, and restaurant facilities, with ground-up and finish workspaces. Through the years, Satex has prided itself on doing high-quality jobs at a reasonable price. "The Benchmark group was a blessing to me. They kept me in touch throughout the process and helped me complete the deal. I recommend them to anyone interested in selling their business." - Joel Stolarski, Founder of Satex Plumbing, Inc. Based in Arizona, Bleuwave General Contracting, LLC is a powerhouse of commercial, industrial, and retail general contracting expertise. Their team is dedicated to creating strategies that establish lasting value in their working relationships, ensuring their clients' confidence in their capabilities. "Our team at Benchmark International was thrilled to navigate the conversations with our client and walk them through the M&A process. It was even more exciting to witness the bond form between Satex Plumbing, Inc. and Bleuwave General Contracting, LLC. We are optimistic about the success of both parties as they embark on their next chapters." - Jeffrey Garza, Deal Associate, Benchmark International. Americas: Sam Smoot at +1 (813) 898 2350/ Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 02, 2024 05:16 PM Eastern Daylight Time

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Forte Minerals Corp. Announces Shares for Debt Agreement

Forte Minerals Corp.

Forte Minerals Corp. ( “ Forte ” or the “ Company ” ) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ), announces that it has agreed to settle an aggregate of $56,600 of indebtedness through the issuance of 283,000 common shares ("Common Shares") in the capital of the Company at a price of $0.20 per Common Share (the "Debt Settlement"). This settlement includes $34,000 owed to officers and directors of the Company and $22,600 owed to an arm's length party. The Common Shares issued pursuant to the Debt Settlement will be subject to a hold period of four months and one day from the date of issuance, under applicable securities laws in Canada. Closing of the Debt Settlement is anticipated to take place on or about July 9, 2024 and remains subject to receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange. ABOUT FORTE MINERALS CORP. Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically positioning permitted and drill-ready projects alongside historically discovered copper and gold projects. Notwithstanding its resource discovery and development focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities. On behalf of FORTE MINERALS CORP. (signed) “ Patrick Elliott” Chief Executive Officer For further information, please contact: Forte Minerals Corp. office: 604-983-8847 info@forteminerals.co m www.forteminerals.com Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management’s discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.. Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements. Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Contact Details Patrick Elliott, President & CEO +1 604-983-8847 info@forteminerals.com Company Website https://forteminerals.com/

July 02, 2024 01:40 PM Pacific Daylight Time

Peru is recognized as South America's Leading Destination at the World Travel Awards

Promperu

Peru rose to the top in the regional edition of the World Travel Awards (WTA) 2024, after being chosen as "South America's Leading Destination". Likewise, for the seventh consecutive year since 2018, the country has been chosen as "South America's Leading Cultural Destination" These awards highlight the country's continuous effort to preserve and share its heritage and cultural diversity with the world. The Historic Sanctuary of Machupicchu, in the Cusco region, has also been chosen for the seventh consecutive year as the "South America's Leading Tourist Attraction". It is worth noting that the Inca site is the first tourism destination to achieve carbon neutral international certification. The country has also won the "South America’s Leading Culinary Destination" award, strengthening its position as the gastronomic epicenter of the region. In 2011, the Organization of American States (OAS) recognized Peruvian cuisine with the "Cultural Heritage of the Americas" award. Since 2009, PROMPERÚ has been working constantly to promote its natural beauty, rich culture and outstanding gastronomy. These four awards consolidate Peru's position as a cultural and culinary reference at the regional level. According to Claricia Tirado, Executive President of PROMPERÚ, Peru strives to set the highest possible bar to raise the standards of excellence in travel and tourism in the region. In December 2023, at the world edition of the World Travel Awards, Peru received three awards: World's Leading Culinary Destination and World's Leading Cultural Destination, while Lima was chosen as the World's Leading Heritage City Destination. The World Travel Awards is a globally recognized brand that has several regional editions, including Africa, Asia, Australasia, the Caribbean and Central America, Europe, the Indian Ocean, the Middle East, North America and South America. Peru Export and Tourism Promotion Board (PROMPERÚ). We are the government agency in charge of the development and implementation of global strategies to position Peru via the promotion of its image, touristic destinations, added value exports and inversions. Contact Details José Carlos Collazos jcollazos@promperu.gob.pe Company Website http://www.promperu.gob.pe

July 02, 2024 01:00 PM Eastern Daylight Time

Spring Bird Celebrates Significant Growth and Expands Reach Across the U.S.

Spring Bird

Spring Bird, a leading provider of heavy-duty transit solutions, is proud to announce its remarkable growth and expansion over the past six months. As a company deeply rooted in the Carson family's longstanding legacy in the transit industry, Spring Bird continues to set new standards in quality, customer satisfaction, and innovation. In the last six months, Spring Bird has successfully delivered transit buses for sale or lease to various key locations, including Texas, Chicago, New York, Idaho, Northern California, and an airport in Southern California. This expansion demonstrates our commitment to meeting the diverse needs of transit operators nationwide and highlights the trust and confidence our clients place in our products and services. "Our available fleet has seen significant growth, now boasting over 100 heavy-duty transit buses with fleet likeness. This uniformity not only provides a cohesive appearance for transit systems but also enhances maintenance efficiency, allowing for smoother operations and reduced downtime. Our dedication to quality and reliability ensures that each vehicle in our fleet meets the highest standards of safety and performance," said Elliott Carson, CEO of Spring Bird. This growth has propelled Spring Bird to become the second-largest supplier of certified pre-owned heavy-duty transit vehicles in North America. Our extensive inventory and comprehensive rehabilitation services, including minor repairs, major overhauls, and retrofitting with advanced technology such as low-emission engines and GPS systems, make us the preferred choice for transit operators seeking dependable and cost-effective solutions. "Our recent achievements are a testament to the hard work and dedication of our team and the trust of our clients," Carson added. "We are committed to continuing our legacy of excellence and innovation, providing top-quality transit solutions that meet the evolving needs of our customers." Spring Bird's success is built on a rich history of the Carson family's contributions to the transit industry, dating back to 1943. From the founding of Cross Town Lines to the establishment of Spring Bird by Elliott Carson, the company's journey reflects a deep-seated commitment to quality, customer satisfaction, and industry leadership. As we look to the future, Spring Bird remains focused on expanding our reach, enhancing our services, and delivering exceptional value to our customers. We are excited about the opportunities ahead and look forward to continuing our tradition of excellence in the transit industry. About Spring BirdSpring Bird is a premier provider of transportation solutions specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Contact Details Media Contact press@springbirdbus.com Company Website https://springbirdbus.com

July 02, 2024 11:17 AM Central Daylight Time

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