q777 Berry Global ( NYSE: BERY ) shareholders will likely accept Amcor's ( AMCR ) $8.4 billion all-stock deal to combine the two packaging companies, even as the 10% premium may be viewed as low, according to a Barclays analyst. Packaging solutions company Amcor ( AMCRPORT-AU-PRINCE, Haiti (AP) — Haiti’s health minister has been removed from his post, government officials told The Associated Press on Thursday, following a deadly gang attack on the largest public hospital in the capital, Port-au-Prince. The two government officials, who spoke on condition of anonymity due to the sensitive nature of the issue, said Health Minister Duckenson Lorthe will be replaced by Justice Minister Patrick Pelissier until a new health minister is found. Two journalists and a police officer were killed Tuesday as gang members burst into the General Hospital and fired indiscriminately at reporters who were there to cover the facility’s reopening. It was one of the worst attacks on Haitian media in recent memory. Seven other journalists were injured. Jean Frans Regala, a photographer who survived , said journalists had been invited to the hospital by the health ministry but there was little security at the site. “The fact that the minister of health invited us, you feel that preparations have been made already,” Regala told the AP. “When we made contact with a police unit, the police told us they were not aware of the event.” The health minister did not show up at the event, for reasons that have not been explained. On Tuesday, Johnson “Izo” André, considered Haiti’s most powerful gang leader and part of the Viv Ansanm group of gangs that has taken control of much of Port-au-Prince, posted a video on social media claiming responsibility for the attack. The video said the gang coalition had not authorized the hospital’s reopening. Gang violence has worsened in Haiti since the nation’s president was killed in a 2021 coup attempt. Gangs are believed to control 85% of the capital and earlier this year staged attacks on the main airport and the country’s two largest prisons. The Caribbean country has struggled to organize an election that will restore democratic rule, and is currently governed by a transitional council made up of representatives of political parties, business groups and civil society organizations.

Jake Paul wants “to set the record straight,” when no straightening is required. If anyone would understand that we moved on from his “fight” against Mike Tyson, it should be Paul, who has made a fortune in the split-second entertainment world of social media. Paul’s Most Valuable Promotions issued a statement on Monday to dispel the rumor that his fight at AT&T Stadium on Nov. 15 against Tyson was rigged. The intention is to change the narrative of what was an embarrassing, if highly profitable, evening, and maintain the interest in Paul’s boxing career. The fight was not rigged, and no statement was needed. The fight was simply awful. The statement begins: “Following the wide circulation of incorrect and baseless claims that undermine the integrity of the Paul vs. Tyson event, Most Valuable Promotions (MVP) would like to set the record straight regarding the contractual agreements and the nature of the fight.” “Integrity” and “Tyson v. Paul” have no business of being in the same sentence. “Rigging a professional boxing match is a federal crime in the United States of America. Paul vs. Tyson was a professional match sanctioned by the Texas Department of Licensing and Regulations (TDLR). Both fighters in good faith performed to the best of their abilities with the goal of winning the fight,” the statement said. The Texas Department of Licensing and Regulations did sanction this kitten fight between a Disney kid turned YouTuber against a 58-year-old man with serious health issues. The fight had judges, and Paul was awarded a decision when none was needed. “Best of their abilities” is subjective. After landing one of his first punches, a left to Paul’s head, Tyson looked like he may have something in what was once one of the most feared boxers who ever lived. He flashed some of that old Tyson head movement, but mostly he looked like an old boxer. Because that’s what he is. The event quickly became an awkward money grab embarrassment, an indictment on the ticket-buying audience more than the promoters, who were doing their job, and leaving Netflix blushing over streaming issues. “There were absolutely no restrictions – contractual or otherwise – around either fighter. Each boxer was able to use his full arsenal to win the fight. Any agreement to the contrary would violate TDLR boxing rules,” the statement said. No restrictions is a liberal use of the term. The fight was eight rounds, not 10 or 12. The rounds lasted two minutes, not three. The gloves the boxers used were 14 oz., not 10. President Jimmy Carter could take a few shots from a 14 oz. glove. The statement continues, “Trash talk and speculation are common in sports, and athletes and promoters need to tolerate nonsensical commentary, jokes and opinions. But suggesting anything other than full effort from these fighters is not only naïve but an insult to the work they put into their craft and to the sport itself.” Accusations of rigged outcomes have been hurled at sporting events in the United States since the New York Nine defeated the Knickerbockers 23-1 in four innings, the first recorded baseball game ever played in America, in 1846. The New York Nine did not release a statement to the press that the game was rigged. Such accusations are hallow, but every now and then there is a Chicago Black Sox. “It is further illogical and inane that MVP, in the debut of a hopeful long-term partnership with the world’s biggest streamer—an organization that made its first-ever foray into live professional sports with Paul vs. Tyson—would even so much as consider such a perverse violation of the rules of competition,” the statement said. That’s not how rigged works. You don’t tell the broadcast partner that the live event is staged. Making sure his boss knows he’s working, MVP co-founder Nakisa Bidarian issued his own words to this statement, saying, “This is not the first time Jake Paul has faced unfounded skepticism or outright disbelief as a professional athlete, and frankly, the claim that his bout must have been rigged is just the latest backhanded compliment to come his way.” Paul, 27, beat a 58-year-old man in a fight that looked like two-hand touch. There is no compliment. “From day one in this sport, people have doubted his abilities — unable to reconcile how someone with his background has accomplished so much in such a short time. Jake has not only proven himself repeatedly, but he has continuously set historic records that speak for themselves,” Bidarian wrote. Paul has created a niche for himself in the sport by carefully fighting opponents who are names, but are not boxers. Older guys. Ex-UFC fighters looking for one more check. He’s also spent the necessary time to train, and learn how to box. He knows how to promote himself, and an event. He created “boxing entertainment,” but his fights are not traditional boxing matches. They are also not scripted WWE. “As long as Jake continues to exceed expectations, there will always be those who try to discredit his achievements.” Bidarian said. “We embrace the doubt — it only fuels Jake to work harder and achieve greater success.” Herein lies the “need” for this press statement. Paul wants to continue to fight, but not against fighters who may knock him out. Considering the type of money his fights have generated, he would have no problem finding a line of potential traditional opponents waiting to pummel him through the canvas. He has avoided real fighters for a reason. Because he’s smart. Because he can. Because there is a market for the fights he stages. The fallout from his bout against Tyson is that Paul could have unintentionally knocked out the audience for these matches that are staged, not rigged, which is really why he wants to “set the record straight.” ©2024 Fort Worth Star-Telegram. Visit star-telegram.com . Distributed by Tribune Content Agency, LLC.Percentages: FG .394, FT .667. 3-Point Goals: 7-24, .292 (Steffe 2-5, Hensley 2-6, Davis 2-7, Sykes 1-1, Mayo 0-2, Dibba 0-3). Team Rebounds: 1. Team Turnovers: None. Blocked Shots: 2 (Aligbe, Massey). Turnovers: 17 (Davis 4, Hensley 3, Aligbe 2, Dibba 2, Mayo 2, Sharp 2, Steffe, Sykes). Steals: 10 (Davis 3, Dibba 2, Aligbe, Massey, Sharp, Steffe, Sykes). Technical Fouls: None. Percentages: FG .435, FT .867. 3-Point Goals: 5-20, .250 (Cooper 2-5, Green 2-6, Ree 1-2, Abram 0-2, Newman 0-5). Team Rebounds: 4. Team Turnovers: None. Blocked Shots: 6 (Batcho 4, Cooper 2). Turnovers: 16 (Abram 6, Batcho 4, Newman 3, Cooper 2, Crawford). Steals: 14 (Abram 6, Cooper 4, Green 3, Newman). Technical Fouls: None. A_542 (7,186).

Bethlehem marks a second subdued Christmas during the war in Gaza BETHLEHEM, West Bank (AP) — Bethlehem is marking another somber Christmas Eve under the shadow of war in Gaza. Manger Square lacked its usual festive lights and crowds of tourists on Tuesday. Instead, the area outside the Nativity Church was quiet. The church was built atop the spot where Jesus is believed to have been born. The war, the violence in the occupied West Bank it has spurred and the lack of festivities has deeply hurt Bethlehem's economy. The town relies heavily on Christmas tourism. The economy in the West Bank was already reeling because of restrictions placed on laborers preventing them from entering Israel during the war. Middle East latest: Bethlehem marks a somber Christmas Eve amid war in Gaza TEL AVIV, Israel (AP) — The Palestinian city of Bethlehem is preparing for another somber Christmas under the shadow of war in Gaza. Most festivities cancelled and crowds of tourists absent in the Israeli-occupied West Bank. Winter is hitting the Gaza Strip and many of the nearly 2 million Palestinians displaced by the devastating 15-month war with Israel are struggling to protect themselves from the wind, cold and rain. According to Gaza’s Health Ministry, Israel’s bombardment and ground invasion has killed over 45,000 Palestinians, more than half of them women and children. The Health Ministry does not distinguish between fighters and civilians in its count. Heavy travel day off to a rough start after American Airlines briefly grounds all flights WASHINGTON (AP) — American Airlines briefly grounded flights nationwide due to a technical issue just as the Christmas travel season kicks into overdrive and winter weather is threatening more potential problems for those planning to fly or drive. American flights were cleared to fly by federal regulators about one hour after a national ground stop order was issued by federal regulators Tuesday. The American groundings couldn’t come at a worse time for the millions of travelers expected to fly over the next 10 days. The Transportation Security Administration expects to screen 40 million passengers over the holidays and through January 2. Major storm pounds California's central coast, blamed for man's death and partially collapsing pier SANTA CRUZ, Calif. (AP) — A major storm has pounded California’s central coast bringing flooding and high surf that was blamed for fatally trapping a man beneath debris on a beach and later partially collapsing a pier, tossing three people into the Pacific Ocean. The storm was expected to bring hurricane-force winds and waves up to 60 feet Monday as it gained strength from California to the Pacific Northwest. Some California cities have ordered beachfront homes and hotels to evacuate early Monday afternoon. Forecasters have warned that storm swells would continue to increase throughout the day. Caitlin Clark honored as AP Female Athlete of the Year following her impact on women's sports Caitlin Clark has been named the AP Female Athlete of the Year after raising the profile of women’s basketball to unprecedented levels in both college and the WNBA. She led Iowa to the national championship game, was the top pick in the WNBA draft and captured rookie of the year honors in the league. Fans packed sold-out arenas and millions of television viewers followed her journey on and off the court. Clark's exploits also put other women's sports leagues in the spotlight. A group of 74 sports journalists from AP and its members voted on the award. Other athletes who received votes included Olympic gold medalist Simone Biles and boxer Imane Khelif. Clark’s only the fourth women’s basketball player to win the award since it was first given in 1931. 20 years after the Indian Ocean tsunami, a boy found in the mud embraces being known as 'Baby 81' KURUKKAL MADAM, Sri Lanka (AP) — The boy once known as “Baby 81,” who was pulled from the mud as an infant after the devastating Indian Ocean tsunami in 2004 and reunited with his parents following an emotional court battle, is now a 20-year-old dreaming of higher education. Jayarasa Abilash’s story symbolizes that of the many families torn apart by one of the worst natural calamities in modern history, but it also offers hope. He grew up being followed by the nickname “Baby 81” and feeling embarrassed until he learned more about the events that tore him from his family and brought him back. He has lost his fear. A blast at a Turkish ammunition factory kills 11 people ISTANBUL (AP) — An explosion at an ammunition factory in northwest Turkey left 11 dead and five injured Tuesday morning. The state-run Anadolu Agency says the blast occurred in Balikesir province, in a rural area away from population centers. The provincial governor says one building collapsed and others were damaged, The governor says the explosion was due to a technical issue and there was no possibility of sabotage. An investigation has begun. France has a new government, again. Politics and crushing debt complicate next steps PARIS (AP) — France’s president and prime minister have managed to form a new government just in time for the holidays. Now comes the hard part. Crushing debt, pressure from the nationalist far right, wars in Europe and the Mideast. The hallenges abound for President Emmanuel Macron and Prime Minister Francois Bayrou. They already had a tumultuous 2024. The most urgent order of business is passing a 2025 budget. Financial markets, ratings agencies and the European Commission are pushing France to bring down its deficit. It is threatening the stability and prosperity of all countries that share the euro currency. Inside the Gaetz ethics report, a trove of new details alleging payments for sex and drug use WASHINGTON (AP) — The House Ethics Committee’s long-awaited report into Rep. Matt Gaetz documents a trove of salacious allegations of misconduct, including sex with an underage girl, that tanked the Florida Republican’s nomination to lead the Justice Department. Citing text messages, travel receipts, online payments and other evidence, the committee painted a picture of a lifestyle in which Gaetz and others connected with younger women for drug-fueled parties, events or trips, with the expectation the women would be paid for their participation. Gaetz, who had filed a last-minute lawsuit to try to block the report’s release Monday, slammed the committee’s findings. Gaetz has denied any wrongdoing and has insisted he never had sex with a minor. Legendary Indian filmmaker Shyam Benegal dies at age 90 NEW DELHI (AP) — Shyam Benegal, a renowned Indian filmmaker known for pioneering a cinema movement that tackled social issues in the 1970s, has died after chronic kidney disease. He was 90. His contribution to cinema was recognized as a director, editor and screenwriter. He came into the limelight with films that challenged mainstream Bollywood by dealing with the social realities of a poor nation. He also was a mentor to top Indian actors. India's prime minister says he is “deeply saddened” by Benegal's death.Picture credit As we approach the end of 2024, it’s clear that the personal loan landscape has undergone significant transformations over the past year. From the widespread adoption of digital technologies to the increased emphasis on personalized and sustainable lending practices, the personal loan industry has been shaped by a number of key trends that are set to define the future. When asked, “What is the future of personal lending?” Matt Mayerle, Personal Finance Editor at CreditNinja , responds, “The future of personal lending is all about accessibility, personalization, and technology. We’re seeing lenders use AI and alternative data to make lending more efficient and tailored to each individual’s unique financial profile. This means faster approvals, more flexible terms, and loan options that are accessible to a broader range of people. Additionally, the focus on sustainable lending practices is growing, with lenders increasingly prioritizing financial inclusion and responsible lending standards. Together, these trends are shaping a lending environment that’s more adaptable and inclusive than ever before.” In this article, we will explore these emerging trends and examine how they are shaping the future of personal loans. The personal loan industry has been undergoing a digital revolution, which has only accelerated in 2024. Lenders are increasingly leveraging advanced technologies to streamline the application and approval process, providing borrowers with a more efficient and user-friendly experience. Artificial intelligence (AI) and machine learning (ML) have played a pivotal role in this transformation, enabling lenders to make more informed credit decisions, automate underwriting, and personalize loan offerings. By harnessing the power of data analytics, lenders can better assess risk, identify potential fraud, and tailor their products to meet the unique needs of individual borrowers. As consumer expectations continue to rise, lenders have placed a growing emphasis on offering personalized lending solutions that cater to the diverse financial needs of their customers. This year, we’ve seen a wider range of loan options, flexible repayment terms, and tailored interest rates, all designed to meet the specific circumstances and goals of borrowers. The rise of alternative data sources, such as employment history, education, and social media activity, has empowered lenders to gain a more comprehensive understanding of a borrower’s financial profile. This has allowed them to make more informed decisions and provide customers with personalized loan products that better fit their individual needs. Mayerle explains, “In 2024, lenders are recognizing that one-size-fits-all doesn’t work for personal loans. By using alternative data sources, lenders can better understand a borrower’s unique financial background and offer tailored loan options that truly meet individual needs. This approach not only improves access but also enhances the borrower experience.” Environmental, social, and governance (ESG) concerns have become increasingly important in shaping consumer behavior and regulatory landscapes, and the personal loan industry has responded by embracing sustainable lending practices. We’ve seen a greater focus on responsible lending, with lenders strongly emphasizing financial inclusion, ethical underwriting, and the long-term financial well-being of their customers. This shift towards sustainable lending has involved introducing “green” personal loan products, which may offer incentives or favorable terms for borrowers committed to eco-friendly practices or sustainable lifestyle choices. Additionally, lenders have implemented more robust credit counseling and financial education programs to empower borrowers and promote financial literacy. Traditional financial institutions like banks and credit unions have often dominated the personal loan market. However, the rise of alternative lenders, including peer-to-peer (P2P) platforms and fintech companies, has introduced a new level of competition and innovation to the industry. In 2024, these alternative lenders have continued to disrupt the personal loan landscape, offering faster, more flexible, and even affordable borrowing options. Leveraging advanced technologies and data-driven decision-making, these lenders have been able to cater to underserved or niche segments of the market, providing opportunities for borrowers who may not meet the stringent criteria of traditional lenders. One of the most promising trends in the personal loan industry has been the growing focus on accessibility and inclusivity. Lenders have recognized the importance of reaching underbanked and underserved populations and have worked to develop lending solutions that cater to a diverse range of financial needs and backgrounds. “One of the most impactful trends this year is the push for inclusivity,” Mayerle remarks. “With alternative credit scoring and mobile lending platforms, lenders are reaching populations who may have been underserved in the past. This accessibility allows more people to achieve their financial goals and makes personal loans a more viable option for diverse groups.” This has involved the use of alternative credit scoring models, the expansion of online and mobile lending platforms, and the implementation of more flexible underwriting criteria. Additionally, lending companies like CreditNinja have provided a lifeline to those who may not have access to traditional banking resources in times of emergency or unexpected expenses. The personal loan industry has bridged the financial divide and empowered more individuals to achieve their financial goals. As we reflect on the trends that have shaped the personal loan industry in 2024, it’s clear that the future of this market is both exciting and transformative. From the widespread adoption of digital technologies to the increased emphasis on personalized and sustainable lending practices, the personal loan landscape has evolved to better serve the diverse needs of borrowers. So, as you consider your borrowing needs, consider these trends and leverage the right lending solutions to unlock the power of personal loans.

NoneFormer Rep. Matt Gaetz appears to be the newest ex-member of Congress to hit the social platform Cameo, and it has its CEO talking about the Congress-to- Cameo pipeline. Sharing his thoughts on Gaetz and his fellow politicians making themselves available for personalized videos to their fans for a few hundred dollars a pop, Cameo chief executive Steven Galanis disputed the notion that it was too soon after his doomed nomination for Gaetz to join Cameo. “It’s important to strike while the iron is hot, when you’re having your moment,” Galanis told the New York Times for a report published Monday. “That’s when it’s going to resonate most with your fans.” ALSO READ: The America-attacking Trump is coming for our military — and then he's coming for us Donald Trump , a former reality TV star, brought his brash style to politics — and that in turn fueled other politicians to steal a page from his playbook. Galanis said. Former Rep. George Santos , former Illinois Gov. Rod Blagojevich and, most recently, Rep. Lauren Boebert (R-CA), have all joined Cameo, as has Roger Stone and Donald Trump Jr., the Times noted. “They all became more famous because Trump is famous,” Galanis told the publication. Santos, the disgraced and ousted Long Island congressman, set records for having the platform’s biggest first day, week and month, according to the report. He was recording 90 videos a day. Cameo helps politicians “humanize themselves,” Santos told the Times. He predicted Gaetz would likely do well on the site and offered some words of wisdom for his former congressional colleague. “Have a personality,” Santos said. “Just have a personality.”

Jayden Daniels and the offense stalling have the Commanders on a three-game losing streakFormer congressman, briefly practicing attorney, alleged child sex trafficker , and confirmed soundbite-chaser Matt Gaetz withdrew from consideration as Donald Trump’s attorney general amid a new allegation of sex with a minor on Thursday. The move immediately sparked strong reactions and predictions about what comes next for him. But this is not a story about what comes next for Gaetz. In the 15 days since the presidential election was called for Trump, he’s unleashed a barrage of unserious nominees for his Cabinet. A surprising number of Trump’s TV-alumni dream team members are steeped in scandal, much like Dear Leader himself, and are crumbling under the most nominal of scrutiny—which makes you wonder if Team Trump knows how to do a Google. With Gaetz out of the way, which junk drawer nominee will be taken down by their own nonsense next? RELATED STORY: Watch Jimmy Kimmel mock Trump's ridiculous Cabinet picks The Fox News host—who was flagged by his fellow servicemen as an “insider threat” —is Trump’s pick to run the Pentagon, though that was announced before allegations surfaced that he was accused of rape by a fellow Republican in 2017 and paid an undisclosed sum to his alleged victim to make it all go away. On Wednesday, the police report was released, and it’s horrific . RELATED STORY: Trump's defense pick doesn't wash his hands—and 17 other ghastly facts The namesake of the beloved second son of Camelot is a family pariah who joined the Trump campaign in October after folding his own ridiculous run for the nation’s top office. Currently Trump’s pick to head up Health and Human Services, the brain worm-havin’, bear cub dumpin’, whale head haulin’ , chemtrail embracin’ antivaxxer also has some not-so-sexy scandals of his own . And on Thursday, CNN’s KFILE revealed RFK Jr. blasted “Hitler” Trump and his “outright Nazi” MAGA supporters. RELATED STORY: Mike Pence hates RFK Jr. too—but for such a Mike Pence reason This famed dog-killer from North Dakota is banned on all tribal lands in the state she rules with an iron fist, and allegedly cheated on her husband with Trump’s beloved adviser Corey Lewandowski. Heading up Homeland Security could be a sweet reward for Noem enduring Trump’s 39-minute dance party in October. This billionaire daughter-slapper built the World Wrestling Entertainment empire with husband, Vince McMahon. Four years after her disastrous turn as head of the Small Business Administration under Trump 1.0, she’s back to body-slam the Department of Education, despite previously lying about her utter lack of education in education . Predictably, she comes with her own baggage: She’s been accused of enabling a sexual predator who abused underage “ring boys” for decades. x #BREAKING 🚨🚨🚨 "Donald Trump has named the new U.S. Secretary of Education – she is Linda McMahon, co-founder of WWE. In this video, to the surprise of the audience, she took down a huge wrestler and slapped her daughter into submission." #WWE #Election2024 pic.twitter.com/Wr0y1AdAkC — SPORTIFY (@DasEvas1) November 20, 2024 Dr. Phil’s only true competitor for the title of “Worst TV Doctor” is back in the political spotlight two years after his disastrous carpetbagging attempt to flip a Senate seat in Pennsylvania. While Dr. Oz doesn’t seem to have any sexual assault allegations holding him back, he is a known quack who took a page out of the Alex Jones playbook and made millions through supplements he pushed on his viewers with a side of junk science. x BREAKING: Trump is nominating Dr. Oz to lead the Centers for Medicare and Medicaid. Biden passed Medicare drug negotiation, allowing for up to 50 drug prices to be negotiated over the next few years. Dr. Oz could be Trump's lead negotiator with Big Pharma. Learn more about him: pic.twitter.com/eJKzQRMI6p — More Perfect Union (@MorePerfectUS) November 19, 2024 Perhaps the least famous of Trump’s roster of camera-chasing Cabinet picks, this unproductive congressional quitter’s IMDb page kicks off with an early season of MTV’s “The Real World” and two seasons of that network’s “Road Rules,” where he presented himself as a laidback lumberjack from Wisconsin . Since leaving his low-paying gig in the House mid-term in 2019, Duffy and his “Real World” alumna wife have kept a roof over the head of their nine children by shrieking right-wing talking points on Fox News. RELATED STORY: Trump taps 'Road Rules' has-been to run the nation's roads This Hawaii congressperson-turned-Democratic presidential candidate-turned former Democrat is reviled for palling around with Syrian dictator Bashar al-Assad and echoing Kremlin talking points like a toddler learning to cuss. This sketchy South African native is the world’s richest man, even after pouring gobs of money into Trump’s campaign and running the town square formerly known as Twitter into the ground . Transphobic as hell and even more anti-labor , this black-clad billionaire is a known tax-dodger who pretends to found innovative companies. Musk has been practically glued to the president-elect’s side since Election Day, much to his cadre of nepo-babies’ dismay. RELATED STORY: First signs of backlash? Trump sidelines Musk at toothless commission This is just a partial list of Trump’s disastrous planned Cabinet, but we don’t have all day—and if we list them all, someone else might withdraw before we’re done. RELATED STORY: Even this notorious GOP jerk thinks Trump's Cabinet is nuts So what say you? Who will be the next junk drawer pick to fall? Thank you to the Daily Kos community who continues to fight so hard with Daily Kos. Your reader support means everything. We will continue to have you covered and keep you informed, so please donate just $3 to help support the work we do.

Abbas, Kalu Salute APC National Chairman, Ganduje, At 75Women's rights panel weighs in Uproar over victim's identity Annamalai's 'barefoot' vow DMK govt assures action The TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most." Read More ​How to make Masala Chicken Curry at home​ 10 beautiful animals that are pink in colour 10 easy-to-care-for beautiful freshwater fish for home aquariums 9 vegetarian dishes shine in the ‘100 Best Dishes in the World’ list ​10 rare animals found only in Asia​ In pics: Sai Pallavi's vacation to Australia 8 books that will help develop discipline and good habits in 2025 Sanskrit names for baby boy that sound modern 18 stews and soups shine among the '100 Best Dishes in the World' 9 foods that provide over 30 grams of protein when cookedThe biggest vessel-ordering program since the eve of the global financial crisis is putting a squeeze on the shipbuilding industry’s capacity to construct new vessels. ET Year-end Special Reads It's all Gucci for Indians' luxury craving even as economy shows wrinkles Investing in 2025: Will domestic funds continue to counter FPI sell-offs amid rising valuations? 2024 exposed the underbelly of India's Silicon Valley Owners plowed more than $188 billion into newbuilds in the first 11 months of the year, on course for the strongest pace in terms of both value and capacity since 2007, according to Clarkson Research Services Ltd, a unit of the world’s largest shipbroker. Two of the world’s three largest shipbuilders say customers would need to wait until 2028 to receive new ships ordered today. The surge comes against the need to serve an ever-growing base of global trade, which has continued to expand despite an elevated interest rate environment and a slowing Chinese economy. Though the proportion of ships being added to the fleet is small by historical standards, the outright volume of orders this year is one of the highest on record, highlighting the pressures on yard space. “You’ve had very little development in shipyard capacity, other than it has reduced in size,” said Jan Rindbo, chief executive officer of D/S Norden A/S which operates both bulk carriers and oil tankers. “You don’t have the ability to quickly increase production.” The spending on new ships is a boost to the industrial bases of South Korea, Japan and China, the three countries that dominate new construction. The trouble is that some vessels, particularly ships that move coal, ore and crops, aren’t lucrative enough for yards to make. 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Limited Space In addition to cautioning on the lead time for deliveries, a spokesperson for Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said its yard space in South Korea is very tight due to high demand for commercial vessels, especially LNG carriers. HD Hyundai Heavy Industries Co., the second-biggest, has taken $20.5 billion of orders for 181 vessels so far this year, exceeding its own annual target by 52%, a spokesperson said. It will take about three-and-a-half years to clear its backlog, the firm said. More than a quarter of those are for LPG and ammonia carriers, and the company is seeking value-added products like gas ships or green-energy vessels rather than bulk carriers or oil tankers that generate lower margins. The largest ships in gas and container shipping can cost significantly more than $250 million each to build new. By contrast, large bulk carriers cost about $80 million, Clarkson data show. Average industry wait times for large vessels are the highest since the mid-to-late 2000s. “The more specialized shipbuilders from Korea and Japan are poised to enjoy better earnings by focusing on filling their shipyards with profitable and reliable orders,” ING analysts Min Joo Kang and Rico Luman wrote in a note. “Shipbuilding will continue to be a significant growth driver in Asia.” Bloomberg Owners have been able to increase their spending as many have been flush with cash from an earnings boom that began soon after the Covid-19 pandemic. For the past three and a half years, average daily vessel earnings have been above the levels they were at between 2010 and 2019, according to Clarkson data. Trade Growth That stems in part from continued robust demand for vessels that’s not expected to reverse any time soon: global seaborne trade should expand in both 2025 and 2026 despite concerns about global manufacturing and the health of the Chinese economy. Red Sea diversions and the war in Ukraine have also boosted the distances ships are sailing and, by extension, demand for the carriers. At the same time owners are investing in modernizing a fleet in which the average ship’s age is more than 17 years, the oldest since at least 2005, according to Clarkson data. The push has coincided with a move to cleaner fuels in some corners of the market — particularly container shipping where the largest companies have the biggest direct exposure to end users. “There’s a market growth component underlying all of the sectors,” said Niels Rasmussen, chief shipping analyst at trade group Bimco, referring to the need for shipowners to build more vessels as trade volumes expand. “On top of that you have decarbonization as a driver for container ships, then somewhere in amongst all of that there is the fact that some sectors have recently seen high profits and its time to contract for replacement.” Nominations for ET MSME Awards are now open. 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Former President Jimmy Carter dead at 100