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What will Kristaps Porzingis’ workload look like as he takes the court for the first time this season? Joe Mazzulla wouldn’t say. But he expects the 7-foot-2 center to make an immediate impact for the Celtics. “I don’t really know on the minutes,” Mazzulla said before Monday night’s matchup with the Los Angeles Clippers at TD Garden. “He’s worked hard. He’s in good shape. We’ll put him in a position to be healthy and successful and do what’s best for the team, and I think pretty consistent just based on his work ethic and what he’s done to get to this point.” Mazzulla said he knew for “probably a week or so” that Porzingis would make his season debut against the Clippers after undergoing offseason leg surgery and sitting out Boston’s first 17 games. He anticipates an “adjustment period” as opponents determine the best methods of guarding Porzingis, who rejoins a Celtics offense that’s attempted nearly 100 more 3-pointers than any other NBA club. Defensively, Boston will benefit from Porzingis’ versatility and rim protection. “With him, you’re able to play different,” Mazzulla said. “You’re able to switch less, keep your matchups a little bit different. We haven’t had as much versatility with him out, so we’ll look to have a little bit more versatility. I expect him to start impacting that tonight.” No other Celtics player can replicate Porzingis’ skill set on both ends of the floor, but Boston won 14 of its first 17 games without him — after going 31-6 in games the big man missed last season. Mazzulla was asked whether the Celtics considered slow-playing his return, which was not expected to come until December at the earliest. “I just listen to when they tell me he’s ready to play,” Mazzulla replied. Mazzulla would not say whether Porzingis would have a specific minutes limitation against the Clippers. His top two backups, Al Horford (illness) and Luke Kornet (hamstring), both were ruled out for Monday’s game, leaving Xavier Tillman and Neemias Queta as the only other bigs on Boston’s depth chart. “We’re going to do what’s best for him and do what’s best for the team,” Mazzulla said.Travel: Colorado’s winter huts blend adventure, luxury, and scenic beautyAs snow blankets the Colorado mountains, outdoor enthusiasts have a unique opportunity: the winter hut trip. Whether you’re a skier or a snowshoer, a hut trip offers an excellent opportunity to connect with nature while exploring the rugged beauty of the state’s wilderness and enjoying the warmth and camaraderie of a cozy mountain hut. From the towering peaks of the San Juan Mountains to the snow-covered trails in Summit County, Colorado’s winter hut trips provide an unforgettable experience for adventurers of all levels. Huts fill up fast, so check each property’s for pricing and availability. Located between Telluride and Silverton near the top of Ophir Pass in the San Juan Mountains, the Opus Hut was built for backcountry skiers, mountaineers, hikers and mountain bikers. At 11,700 feet, the hut sits at treeline with low-angle glades below and open slopes above. While intermediate powder skiing is available out the back door of the hut, owner Travis Mohrman said the terrain is best suited for experienced backcountry skiers. Mohrman estimates that 15% to 20% of the groups visiting Opus Hut do so with guides. “They’re not personally comfortable with the terrain or they’re not from the area,” Mohrman said. “They guides are knowledgeable about local conditions — what the snow is, what’s safe and what’s not safe.” The cabin accommodates up to 20 people in five rooms. Some visitors book the whole hut and bring friends and family, while others reserve available beds in unbooked rooms. The hut features solar-powered lighting and 110-volt outlets for charging electronic devices. It also has filtered drinking water, hot and cold tap water, and indoor composting toilets. It provides full bedding and clean sleeping bag liners. During winter, the hut has four to six employees who sleep in a separate cabin. They prepare meals with natural, organic, and, when possible, locally grown products. The hut accommodates vegetarian, vegan, and gluten-free diets–just be sure to inform the staff beforehand. It also offers beer, wine, and a limited selection of spirits for purchase. “You can travel much lighter if you don’t have to bring in your food,” said Mohrman, who took over the hut three years ago. “You don’t have to focus on the upkeep of being in the backcountry.” Reservations for Opus Hut open Aug. 1. “The winter fills up quick,” Mohrman said. “Every winter weekend books in the first five minutes.” Nestled at 11,200 feet in the San Juan National Forest, Campfire Ranch Red Mountain Pass is the perfect base for exploring world-class skiing, split boarding, snowshoeing, and ice climbing. Located between Silverton and Ouray, it’s is accessible during the winter via a half-mile backcountry over-snow approach. Campfire Ranch is an ideal choice for novices. While other Colorado hut systems require you to carry your own food, bring sleeping bags, and live off-grid, this one provides food service, solar-powered electricity, Wi-Fi, and bedding. The dog-friendly cabin accommodates eight people. “We took a hospitality approach to remove barriers to entry for people who want to have the experience but don’t have the gear or the knowledge,” said Katrin Meiusi, director of marketing for the properties. Campfire Ranch first opened a campground on the Taylor River in Almont near Crested Butte. RVs are not permitted at the campground, which is open from May to October. Amenities include unlimited firewood, clean bathrooms, and drinkable well water. The 38 backcountry huts managed by the non-profit 10th Mountain Division Hut Association are connected by 350 miles of trails among some of the tallest peaks in the lower 48 states. All huts, some of which accommodate up to 17 people, have kitchens with propane burners for cooking — propane is provided. They provide pots, pans, potholders, dishware, cooking and eating utensils, a percolator or French press for coffee, salt and pepper, paper towels, dish soap, hand sanitizer, cleaning supplies and trash bags. Some huts have ovens and propane grills. All huts provide lighting from on-site solar power, propane or a generator. A few huts also have outlets for charging small devices such as phones. The huts have either an outhouse or an indoor bathroom with toilet paper supplied. All huts include mattresses and pillows, but you must bring your sleeping bag and pillowcase. Summit Hut Association operates five backcountry huts open for winter from November to May. Francie’s and Janet’s cabins are also open for summer use from July to September. All huts have solar-powered lights, fully stocked kitchens, and wood-burning stoves. Francie’s, Janet’s, and Sisters’ cabins have saunas and indoor toilets. The association hosts its annual Backcountry Ball fundraiser in October at The Maggie on Peak to kick off the season. The event includes dinner, drinks, a silent auction and entertainment. Proceeds help maintain the network of backcountry cabins.

THIRUVANANTHAPURAM: Rajendra Vishwanath Arlekar (70), who will succeed Arif Muhammad Khan, is known for his outreach to the public, much like Khan. While at office, Arlekar had opened the doors of the Raj Bhavan to the people of Bihar and Himachal and even didn’t shy away from visiting squalid colonies. Arlekar, a staunch RSS man with good ties to Prime Minister Narendra Modi and the BJP leadership, heading to Kerala barely a year and a half before the assembly elections speaks volumes of the political objective at play. Arlekar, a leader from Goa, will try to bridge the gap between Christian sections and the BJP in Kerala. Arlekar meticulously manoeuvred the move in Goa that saw a majority Christian community turn lenient towards the BJP. He will have to turn back pages from his rule book to emulate the same in Kerala. Arlekar is not new to controversies either. His last week's speech sparked outrage when he said that the British left India not because of fear of Satyagraha, but because people took up arms. Arlekar will continue Arif Khan's policies including the appointment of university VCs. During his tenure as Governor in Bihar, he entered into a tussle with Chief Minister Nitish Kumar by returning the Vice-Chancellor appointment recommendation given by the government. He is also a fierce critic of the left. Once Arlekar remarked that Kanhaiya Kumar, the former JNU leader, would not be allowed to talk gibberish in the name of Freedom of speech. Arlekar would go head over heels for classical music and religiously play Marathi light music to cool his head off the official hassles.

Bill and Kurt were right. Everyone else on Bay Street was wrong. That’s the big take-away from Monday’s groundbreaking $4.7-billion bid for CI Financial Corp. CIX-T by Abu Dhabi-based Mubadala Capital. A sovereign wealth fund with a mandate to invest anywhere in the world is choosing to endorse a CI growth strategy most investors hated. The $32-a-share takeover is vindication, pure and sweet, for a debt-fuelled U.S. expansion plan hatched four years ago by CI chair and former chief executive officer Bill Holland and successor Kurt MacAlpine. Can Mubadala make money by doubling down on CI’s strategy, as the fund manager promises to do? That’s a question that splits the Street. Public market investors who never really supported Bill and Kurt’s approach would tell you this investment will end in tears for the Abu Dhabi fund. However, Mubadala is the latest in a series of deep-pocketed private-equity funds to embrace CI’s vision of the future of U.S. wealth management. Mr. MacAlpine is sticking around to run the business and continue making U.S. acquisitions, backed by US$302-billion of firepower at parent Mubadala Investment Co. If the sovereign wealth fund has it right, CI will be another Canadian champion making money for a foreign owner. In fund management circles, Mr. Holland is a larger-than-life character. He joined CI in 1989 and built a leading domestic platform through a series of takeovers. While numerous rivals cashed out by either selling to the banks or foreign fund managers, Mr. Holland opted to remain independent. The choice was not Mr. Holland’s alone. Bank of Nova Scotia BNS-T held a stake in CI for six years and was considered its natural buyer, but chose instead to acquire DundeeWealth. Scotiabank unloaded the bulk of its CI holding in 2014 at $30.60 per share. Opinion: Who dares to bring bad news to the men who run CI Financial? By 2019, the challenge facing Mr. Holland and CI was where to find new clients. Growth at home grew increasingly difficult in a sector dominated by the banks and lower-cost competitors such as exchange traded funds. Enter Mr. MacAlpine, a former McKinsey consultant recruited to CI with a plan to roll up teams of U.S. registered investment advisers, known as RIAs, often by outbidding larger American rivals. RIAs oversee the savings of wealthy families, and demographics dictate these are great advisers to employ, for firms that acquire their books of business at the right price. As CI expanded, the relative newcomer to the RIA sector consistently faced concerns it was overpaying. Focus Financial Partners Inc., said companies such as CI were spending like “drunken sailors” to win deals. Turns out the drunken sailors knew exactly what they were doing. CI borrowed $3.8-billion and sold $1.7-billion of preferred shares to build a U.S. wealth management business with $251-billion of client assets. Public investors and most analysts fixated on debt levels, and the cost of servicing the preferred shares. Their concerns drove CI’s stock price down to almost $12 as recently as October, 2023. Private-equity funds, which build businesses by borrowing, took a different view. Over the past 18 months, Mubadala Capital’s U.S. peers decided the consolidating RIA industry represented one of the great bargains in financial services. In February, 2023, private-equity fund Clayton, Dubilier & Rice LLC acquired Focus Financial, CI’s major rival, in a takeover with a US$7-billion enterprise value – equity plus debt. In February, private-equity giant TPG Capital bought a stake in RIA consolidator Creative Planning that reportedly valued the platform at US$15-billion. Mubadala’s acquisition of CI puts a $12.1-billion enterprise value on a Toronto-based company with global ambitions. On Monday, CI’s senior executives signalled they plan to keep a significant amount of their personal wealth committed to the RIA consolidation strategy. Mr. MacAlpine, who owns roughly $40-million of CI stock, can roll his stake into the acquired company, according to a press release. Mr. Holland spent $72-million over the past four years buying CI shares, mostly in public markets, adding to the stake he built over more than three decades. He stands to roughly double his money on the investment. The takeover values Mr. Holland’s total CI holding at $382-million, and he can swap up to 25 per cent of this for a position in the Mubadala-owned business. Bill and Kurt remain true believers.

AP Sports SummaryBrief at 6:11 p.m. ESTSANTA CLARA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the “Company”), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the third quarter ended September 30, 2024. “Recently, we launched our Conversational AI SDK in collaboration with OpenAI’s Realtime API to allow developers to bring voice-driven AI experiences to any app. We believe multimodal AI agents that can interact with human through natural voice will gain widespread adoption across many use cases such as customer support, education and wellness, and Agora is well positioned to become a key infrastructure provider for real-time conversational AI,” said Tony Zhao, founder, chairman and CEO of Agora. “To support this vision, we recently made some structural changes, aligning our organization to fully leverage the accelerating conversational AI opportunities, and operate in a faster, leaner, and more responsive fashion. These changes will help us build the next generation real-time engagement technology for the Generative AI era and strengthen our position as the leader in real-time engagement space.” Third Quarter 2024 Highlights Total revenues for the quarter were $31.6 million, a decrease of 9.8% from $35.0 million in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of $2.4 million. Agora : $15.7 million for the quarter, an increase of 2.6% from $15.3 million in the third quarter of 2023. Shengwang : RMB112.9 million ($15.9 million) for the quarter, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of RMB17.5 million ($2.4 million). Active Customers Agora : 1,762 as of September 30, 2024, an increase of 5.9% from 1,664 as of September 30, 2023. Shengwang : 3,641 as of September 30, 2024, a decrease of 9.7% from 4,034 as of September 30, 2023. Dollar-Based Net Retention Rate Agora : 94% for the trailing 12-month period ended September 30, 2024. Shengwang : 78% for the trailing 12-month period ended September 30, 2024. Net loss for the quarter was $24.2 million, which included expenses of $11.4 million in relation to the cancellation of certain employees’ equity awards, severance expenses of $4.8 million, and losses from equity in affiliates of $4.2 million, compared to net loss of $22.5 million in the third quarter of 2023. After excluding share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets and income tax related to acquired intangible assets, non-GAAP net loss for the quarter was $10.4 million, compared to the non-GAAP net loss of $15.6 million in the third quarter of 2023. Total cash, cash equivalents, bank deposits and financial products issued by banks as of September 30, 2024 was $362.6 million. Net cash used in operating activities for the quarter was $4.6 million, compared to $3.0 million in the third quarter of 2023. Free cash flow for the quarter was negative $6.0 million, compared to negative $3.2 million in the third quarter of 2023. Third Quarter 2024 Financial Results Revenues Total revenues were $31.6 million in the third quarter of 2024, a decrease of 9.8% from $35.0 million in the same period last year. Revenues of Agora were $15.7 million in the third quarter of 2024, an increase of 2.6% from $15.3 million in the same period last year, primarily due to our business expansion and usage growth in sectors such as live shopping. Revenues of Shengwang were RMB112.9 million ($15.9 million) in the third quarter of 2024, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the same period last year, primarily due to a decrease in revenues of RMB 17.5 million ($2.4 million) due to the end-of-sale of certain products and reduced usage from customers in certain sectors such as social and entertainment as a result of challenging macroeconomic and regulatory environment. Cost of Revenues Cost of revenues was $10.5 million in the third quarter of 2024, a decrease of 16.4% from $12.6 million in the same period last year, primarily due to the end-of-sale of certain products and the decrease in bandwidth usage and costs, which was offset partially by severance expenses for customer support teams of $0.3 million. Gross Profit and Gross Margin Gross profit was $21.0 million in the third quarter of 2024, a decrease of 6.1% from $22.4 million in the same period last year. Gross margin was 66.7% in the third quarter of 2024, an increase of 2.7% from 64.0% in the same period last year, mainly due to the end-of-sale of certain low-margin products, which was offset partially by higher severance expenses in the third quarter of 2024. Operating Expenses Operating expenses were $45.9 million in the third quarter of 2024, an increase of 24.3% from $36.9 million in the same period last year, primarily due to the increase in restructuring and severance expenses in the third quarter of 2024, which included share-based compensation of $11.4 million as a result of the cancellation of certain employees’ equity awards and immediate recognition of relevant remaining unrecognized compensation expenses, as well as severance expenses of $4.4 million. Research and development expenses were $29.3 million in the third quarter of 2024, an increase of 46.1% from $20.0 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $9.0 million due to equity award cancellation and severance expenses of $3.6 million. Sales and marketing expenses were $6.9 million in the third quarter of 2024, a decrease of 11.9% from $7.8 million in the same period last year, primarily due to a decrease in personnel costs as the Company optimized its global workforce, which was offset partially by severance expenses of $0.7 million in the third quarter of 2024. General and administrative expenses were $9.7 million in the third quarter of 2024, an increase of 7.4% from $9.1 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $2.4 million as a result of the equity award cancellation, which was offset partially by a decrease in personnel costs as the Company optimized its global workforce. Loss from Operations Loss from operations was $24.7 million in the third quarter of 2024, compared to $13.9 million in the same period last year. Interest Income Interest income was $3.9 million in the third quarter of 2024, compared to $4.9 million in the same period last year, primarily due to the decrease in the average balance of cash, cash equivalents, bank deposits and financial products issued by banks and the decrease in average interest rate realized. Losses from equity in affiliates Losses from equity in affiliates were $4.2 million in the third quarter of 2024, primarily due to an impairment loss on an investment in certain private company of $4.1 million. Net Loss Net loss was $24.2 million in the third quarter of 2024, compared to $22.5 million in the same period last year. Net Loss per American Depositary Share attributable to ordinary shareholders Net loss per American Depositary Share (“ADS”) 1 attributable to ordinary shareholders was $0.26 in the third quarter of 2024, compared to $0.23 in the same period last year. _____________ 1 One ADS represents four Class A ordinary shares. Share Repurchase Program During the three months ended September 30, 2024, the Company repurchased approximately 6.8 million of its Class A ordinary shares (equivalent to approximately 1.7 million ADSs) for approximately US$3.9 million under its share repurchase program, representing 1.9% of its US$200 million share repurchase program. As of September 30, 2024, the Company had repurchased approximately 129.4 million of its Class A ordinary shares (equivalent to approximately 32.3 million ADSs) for approximately US$113.7 million under its share repurchase program, representing 57% of its US$200 million share repurchase program. As of September 30, 2024, the Company had 368.3 million ordinary shares (equivalent to approximately 92.1 million ADSs) outstanding, compared to 449.8 million ordinary shares (equivalent to approximately 112.5 million ADSs) outstanding as of January 31, 2022 before the share repurchase program commenced. The current share repurchase program will expire at the end of February 2025. Executive Leadership Update Today the Company announced that Chief Security Officer Roger Hale will be leaving the Company, effective immediately. Mr. Hale has served in this role for the past 2.5 years, during which he made significant contributions to enhancing the Company’s security, compliance, and data protection protocols. Mr. Hale will work closely with senior leadership to ensure a smooth transition of his responsibilities. Moving forward, Patrick Ferriter and Robbin Liu will assume responsibility for security and compliance, reflecting the Company’s commitment to maintaining a strong and effective security framework. Mr. Hale will continue to provide strategic advice as an advisor to the Company. “We are grateful for Roger’s dedication and expertise over the past two and a half years. His leadership has been invaluable in strengthening our security & compliance foundation,” said Tony Zhao, founder, chairman and CEO of Agora. “Security and compliance remain top priorities for Agora, and we will continue to uphold the highest standards to protect our customers and stakeholders.” Financial Outlook Based on currently available information, the Company expects total revenues for the fourth quarter of 2024 to be between $34 million and $36 million, compared to $31.6 million in the third quarter of 2024, and $33.3 million in the fourth quarter of 2023 if revenues from certain end-of-sale low-margin products were excluded. The Company also expects significant improvement in net income / (loss) in the fourth quarter. This outlook reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Earnings Call The Company will host a conference call to discuss the financial results at 5 p.m. Pacific Time / 8 p.m. Eastern Time on November 25, 2024. Details for the conference call are as follows: Event title: Agora, Inc. 3Q 2024 Financial Results The call will be available at https://edge.media-server.com/mmc/p/wie28zvr Investors who want to hear the call should log on at least 15 minutes prior to the broadcast. Participants may register for the call with the link below. https://register.vevent.com/register/BIf58a0b6f500c4362b1a8c64f9fa4cea8 Please visit the Company’s investor relations website at https://investor.agora.io on November 25, 2024 to view the earnings release and accompanying slides prior to the conference call. Use of Non-GAAP Financial Measures The Company has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company uses these non-GAAP financial measures internally in analyzing its financial results and believe that the use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing its financial results with other companies in its industry, many of which present similar non-GAAP financial measures. Besides free cash flow (as defined below), each of these non-GAAP financial measures represents the corresponding GAAP financial measure before share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. The Company believes that such non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effects of such share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill that it includes in its cost of revenues, total operating expenses and net income (loss). The Company believes that all such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of its historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the tables captioned “Reconciliation of GAAP to Non-GAAP Measures” included at the end of this press release, and investors are encouraged to review the reconciliation. Definitions of the Company’s non-GAAP financial measures included in this press release are presented below. Non-GAAP Net Income (Loss) Non-GAAP net income (loss) is defined as net income (loss) adjusted to exclude share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. Free Cash Flow Free cash flow is defined as net cash provided by operating activities less purchases of property and equipment (excluding the acquisition of land use right and the payment for the headquarters project). The Company considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Operating Metrics The Company also uses other operating metrics included in this press release and defined below to assess the performance of its business. Active Customers An active customer at the end of any period is defined as an organization or individual developer from which the Company generated more than $100 of revenue during the preceding 12 months. Customers are counted based on unique customer account identifiers. Generally, one software application uses the same customer account identifier throughout its life cycle while one account may be used for multiple applications. Dollar-Based Net Retention Rate Dollar-Based Net Retention Rate is calculated for a trailing 12-month period by first identifying all customers in the prior 12-month period, and then calculating the quotient from dividing the revenue generated from such customers in the trailing 12-month period by the revenue generated from the same group of customers in the prior 12-month period. As the vast majority of revenue generated from Agora’s customers is denominated in U.S. dollars, while the vast majority of revenue generated from Shengwang’s customers is denominated in Renminbi, Dollar-Based Net Retention Rate is calculated in U.S. dollars for Agora and in Renminbi for Shengwang, which has substantially removed the impact of foreign currency translations. Shengwang excluded the revenues from certain end-of-sale products, Easemob’s CEC business and K12 academic tutoring sector. The Company believes Dollar-Based Net Retention Rate facilitates operating performance comparisons on a period-to-period basis. Safe Harbor Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the Company’s financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements. Among other things, the Financial Outlook in this announcement contain forward-looking statements. These forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties. The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the growth of the RTE-PaaS market; the Company’s ability to manage its growth and expand its operations; the continued impact of COVID-19 on global markets and the Company’s business, operations and customers; the Company’s ability to attract new developers and convert them into customers; the Company’s ability to retain existing customers and expand their usage of its platform and products; the Company’s ability to drive popularity of existing use cases and enable new use cases, including through quality enhancements and introduction of new products, features and functionalities; the Company’s fluctuating operating results; competition; the effect of broader technological and market trends on the Company’s business and prospects; general economic conditions and their impact on customer and end-user demand; and other risks and uncertainties included elsewhere in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without limitation, the final prospectus related to the IPO filed with the SEC on June 26, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About Agora, Inc. Agora, Inc. is the Cayman Islands holding company of two independent divisions, under Agora brand and Shengwang brand, respectively, whose businesses are conducted through separate entities. Headquartered in Santa Clara, California, Agora is a pioneer and global leader in Real-Time Engagement Platform-as-a-Service (PaaS), providing developers with simple, flexible, and powerful application programming interfaces, or APIs, to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications. Headquartered in Shanghai, China, Shengwang is a pioneer and leading Real-Time Engagement PaaS provider in the China market. For more information on Agora, please visit: www.agora.io For more information on Shengwang, please visit: www.shengwang.cn Agora, Inc. Condensed Consolidated Balance Sheets (Unaudited, in US$ thousands) Agora, Inc. Condensed Consolidated Statements of Comprehensive Loss (Unaudited, in US$ thousands, except share and per ADS amounts) Agora, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in US$ thousands) Agora, Inc. Reconciliation of GAAP to Non-GAAP Measures (Unaudited, in US$ thousands, except share and per ADS amounts)Manmohan Singh, the former Indian prime minister whose economic reforms made his country a global powerhouse, has died at the age of 92, current leader Narendra Modi said Thursday. India "mourns the loss of one of its most distinguished leaders," Modi posted on social media platform X shortly after news broke of Singh's passing. "As our Prime Minister, he made extensive efforts to improve people's lives." Singh was taken to a hospital in New Delhi after he lost consciousness at his home on Thursday, but could not be resuscitated and was pronounced dead at 9:51 pm local time, according to a statement by the All India Institute of Medical Sciences. Singh, who held office from 2004 to 2014, is credited with having overseen an economic boom in Asia's fourth-largest economy in his first term, although slowing growth in later years marred his second stint. "I have lost a mentor and guide," opposition Congress leader Rahul Gandhi said in a statement, adding that Singh had "led India with immense wisdom and integrity." "Millions of us who admired him will remember him with the utmost pride," said Gandhi, a scion of India's powerful Nehru-Gandhi dynasty and the most prominent challenger to Modi. Mallikarjun Kharge, leader of the opposition in parliament's upper house, said "India has lost a visionary statesman, a leader of unimpeachable integrity, and an economist of unparalleled stature." President Droupadi Murmu wrote on X that Singh will "always be remembered for his service to the nation, his unblemished political life and his utmost humility." Born in 1932 in the mud-house village of Gah in what is now Pakistan, Singh studied economics to find a way to eradicate poverty in India and never held elected office before taking the vast nation's top job. He won scholarships to attend both Cambridge, where he obtained a first in economics, and Oxford, where he completed his PhD. Singh worked in a string of senior civil posts, served as a central bank governor and also held various jobs with global agencies including the United Nations. He was tapped in 1991 by then Congress prime minister P.V. Narasimha Rao to reel India back from the worst financial crisis in its modern history. In his first term Singh steered the economy through a period of nine-percent growth, lending India the international clout it had long sought. He also sealed a landmark nuclear deal with the United States that he said would help India meet its growing energy needs. Known as "Mr Clean", Singh nonetheless saw his image tarnished during his decade-long tenure when a series of corruption cases became public. Several months before the 2014 elections, Singh said he would retire after the polls, with Sonia Gandhi's son Rahul earmarked to take his place if Congress won. But Congress crashed to its worst-ever result at that time as the Hindu-nationalist Bharatiya Janata Party, led by Modi, won in a landslide. Singh -- who said historians would be kinder to him than contemporary detractors -- became a vocal critic of Modi's economic policies, and more recently warned about the risks that rising communal tensions posed to India's democracy. bjt/mlm

The global boss of Samsung is already familiar with prison life, now prosecutors in South Korean want him back in the slammer, claiming he manipulated stock during the 2015 merger of two Samsung affiliates. Prosecutors in South Korea have proposed a sentence of five years in prison and a fine of A$500,000 for Samsung Electronics Chairman Lee Jae-yong. The new demand follows an appeal earlier this year after a lower court acquitted Lee of all 19 charges it had filed. This week the prosecution kept to their original claims, insisting the chief of the country’s largest conglomerate rigged the company valuation and falsified accounting records in the merger of Cheil Industries and Samsung C&T Corp. in 2015. Samsung Electronics Chairman Lee Jae-yong seen centre. Indicting 12 other Samsung executives on the same charges, the prosecution claimed the criminal actions were aimed at strengthening the Samsung chief’s control over the business empire at a lower cost. “In this case, the accused damaged the constitutional value that upholds the justice of our economy and builds the fundamentals of the capital market,” the prosecutors said during this week hearing according to the Korean Times. “When the merger process became unclear and faced strong backlash from shareholders, the defendants deceived them by claiming the merger would serve the national interest.” The prosecutors urged the court to reconsider the acquittal, saying the case would set the precedent for future rulings on chaebol group restructuring and accounting management. “To indulge the defendant would be to give controlling shareholders free rein to pursue mergers by unlawful means,” the prosecutors added. At the time of the merger, Lee Jae-yong held 23.3 percent of shares in Cheil Industries. After the merger, he and his family secured a combined 39.9 percent shares in the merged entity, Samsung C&T, which now serves as the group’s de facto holding unit. The final ruling in the retrial is expected before the court’s personnel reshuffle in February next year. Currently Samsung stock is down 29% year to date.Man City crisis continues as Feyenoord come from three down to drawAfter delay, Trump signs agreement with Biden White House to begin formal transition handoff

If Benjamin Netanyahu stepped foot in Canada, he would be arrested, Prime Minister Justin Trudeau confirmed on Thursday after the International Criminal Court (ICC) issued an arrest warrant for the Israeli Prime Minister. Also included in the warrant are Netanyahu’s former Defense Minister Yoav Gallant, and a Hamas leader. Trudeau was in Newmarket on Thursday to make a GST announcement when a reporter reminded him that under the warrants, Canadian law enforcement would be obligated to arrest Netanyahu if he entered the country. When asked if he would allow the arrest to happen, he replied: “As Canada has always said, it’s really important that everyone abide by international law, this is something we have been calling on since the beginning of the conflict,” a grim-looking Trudeau replied. “We are one of the founding members of the International Criminal Court (ICC),” he added. “We stand up for international law and we will abide by all the regulations and rulings of the international courts. This is just who we are as Canadians.” The announcement quickly drew both praise and condemnation. “We are ashamed that Canada would align itself with such a politicized decision,” the Centre for Israel and Jewish Affairs wrote in a social media post. “By doing so, Canada undermines international law, strains its alliance with the U.S., and harms its relationship with Israel. This decision erodes Canada’s role as a principled advocate for fairness and justice on the global stage.” We are ashamed that Canada would align itself with such a politicized decision. By doing so, Canada undermines international law, strains its alliance with the U.S., and harms its relationship with Israel. This decision erodes Canada’s role as a principled advocate for fairness... pic.twitter.com/2hUm2vDKFu The National Council of Canadian Muslims (NCCM) applauded Trudeau’s backing of ICC — the world’s top war-crimes court. “Today, the Prime Minister took a step in this direction by accepting that Canada would recognize these ICC arrest warrants. This means that Netanyahu and Gallant would be arrested if they stepped foot in Canada. This is an important moment. Canada has chosen to do the right thing.” The warrants against Netanyahu and Gallant allege Israel has used food as a weapon in its campaign against Hamas in Gaza. Israeli officials deny that charge. The court also issued an arrest warrant for Mohammed Deif — the head of Hamas’ armed wing for his role in the Oct. 7, 2023 attacks. Netanyahu, meanwhile, was quick to condemn the arrest warrant against him, saying Israel “rejects with disgust the absurd and false actions” by the court. In a statement released by his office, he said: “There is nothing more just than the war that Israel has been waging in Gaza.” With files from The Associated Press

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