Category: 3. Business

  • Food trucks coming to Cornerstone on Thursdays Welcome to the City of Gainesville

    Food trucks coming to Cornerstone on Thursdays Welcome to the City of Gainesville













    Food trucks coming to Cornerstone on Thursdays Welcome to the City of Gainesville













































































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    Published on December 30, 2025



    Beginning Thursday, Feb. 5, we will welcome a variety of food trucks from 11 a.m. to 4 p.m. Read on to find out how to apply to be a vendor!

    This program is brought to you by Gainesville Community Reinvestment Area (GCRA) at Cornerstone (2153 SE Hawthorne Rd.)

    Located on SE Hawthorne Road, the Cornerstone Campus is home to the GTEC Center and Merrieux, and within walking distance of the newly opened UF Health Urgent Care Clinic.

    Fees and Payments

    There will be no fees to participate.

    Space Allocation

    • Vendors will be assigned a designated space by staff.
    • The GCRA will have tables, chairs and tents available. Vendors may provide their own tents, tables and chairs if desired. 

    Setup and Teardown

    • Vendors must be set up 30 minutes before the start time and be fully set up and ready to operate by start time.
    • If a vendor will be late or needs to cancel, they must notify staff at least two hours prior to the event start time.
    • Teardown may not begin until the agreed upon end time or sell out. Vendors must ensure their area is clean and free of debris before leaving.

    Permits and Licenses

    • Vendors are required to obtain and display any necessary permits or licenses relevant to their business. This includes health permits for food vendors.
    • Proof of permits must be provided to the staff before the event.
    • If vendor needs assistance with acquiring the necessary permits or licenses, please contact staff.

     

    Product Guidelines

    • All products sold must be of quality and follow all legal guidelines. The sale of counterfeit, offensive or prohibited items is strictly forbidden.

    Conduct and Professionalism

    • Vendors must conduct themselves professionally at all times. This includes courteous interactions with customers, fellow vendors and staff.
    • Maintaining a clean and attractive booth space is essential. Vendors are responsible for removing their own trash. Trash cans will be provided by staff.

     

    Sanitation

    • Vendors handling food must follow all health department guidelines for sanitation.
    • Vendors are required to keep their areas clean, with all waste properly disposed of in designated bins.

    Food Safety

    • Food vendors must comply with all local health department regulations, including maintaining proper food storage temperatures and hygiene standards.
    • Only approved and properly labeled food items are permitted for sale.

    Emergency Procedures

    • In the event of an emergency, please follow the instructions of market staff and emergency personnel. An emergency meeting point will be clearly marked.

    Inclement Weather

    • The GCRA will proceed rain or shine unless conditions are deemed unsafe. In case of severe weather, notifications will be sent out via email and posted on-site.
    • Vendors should be prepared for weather changes and bring appropriate coverings for their booths.

     

    Eco-Friendly Practices

    • Vendors must follow Gainesville Zero Waste Ordinances. 
    • Vendors are encouraged to minimize the use of single-use plastics and opt for sustainable packaging options.
    • Please help us reduce waste by providing recycling options at your booth.

    Waste Management

    • All vendors must dispose of their waste in the designated bins.
    • Please ensure your area is left clean and free of litter at the end of the event.

    Noise Control

    • Vendors must keep noise levels, such as music or generators, at a moderate level to ensure a pleasant environment for all attendees.
    • Music is acceptable at a reasonable level and must be family-friendly. 

    Insurance

    • Vendors are required to carry liability insurance and must provide proof of coverage prior to the event. This ensures protection for both the vendor and the GCRA.

    Agreements

    • Upon agreement of participation, vendor agrees to abide by these guidelines and any additional rules set forth by the City of Gainesville and the GCRA. Failure to comply may result in removal from the event.

    Financial Reporting

    • Vendors are responsible for their own sales tax reporting and compliance with local, state, and federal tax laws. The GCRA is not liable for any financial or legal issues arising from vendor sales.

    Post-Event Feedback

    • Vendors are encouraged to fill out the post-event survey after each of the selected days.

    Feedback Form

    Vendor Application














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  • TVA Films’ activities to be centralized under newly created Quebecor Films

    TVA Films’ activities to be centralized under newly created Quebecor Films

    Quebecor and TVA Group today announced that the operations of TVA Films, previously part of TVA Group Inc., will be centralized in a new business unit, Quebecor Films, effective January 1, 2026. This strategic move will enhance Quebecor’s leadership in the Québec film distribution market by uniting all its expertise within a dedicated entity for the distribution of domestic and international films. The well-established TVA Films brand, a prominent name in the industry for more than 20 years, will maintain its high profile within Quebecor Films Inc. The new entity will carry on TVA Films’ work as a leading distributor in the Québec and Canadian markets on the strength of TVA Films’ talented team and rich catalogue, which includes several anticipated upcoming releases.

     

    Building on the recent success of several titles in TVA Films’ catalogue, including Ma belle-mère est une sorcière, the second-highest grossing Québec film of 2025, and Nos Belles-Sœurs, the top-grossing Canadian film of 2024, Quebecor Films will be able to consolidate its efforts and maximize its film development, exploitation and distribution activities in this new environment,  said Luana Ann Church, Vice President, Development, Acquisitions & Distribution of Quebecor. This new structure will also support our mission of showcasing Québec talent and bringing high-quality films, including many Québec titles, to audiences.

     

    This is a related party transaction that complies with all applicable rules and requires no formal valuation or minority shareholder approval, as its fair market value and the associated consideration are deemed to be of limited materiality relative to the market capitalizations of both TVA Group and Quebecor.

    About Quebecor

    Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.

    Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than 11,000 people in Canada.

    A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.

     

    About TVA Group

    TVA Group Inc., a subsidiary of Quebecor Media Inc., is a communications company engaged in the broadcasting, film production and audiovisual services, international production and distribution of television content, and magazine publishing industries. TVA Group Inc. is North America’s largest broadcaster of French-language entertainment, information and public affairs programming and one of the largest private-sector producers of French-language content. It is also the largest publisher of French-language magazines and publishes some of the most popular English-language titles in Canada. The Corporation’s Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B. 

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  • Federal Reserve Board – Agencies release annual asset-size thresholds under Community Reinvestment Act regulations

    Federal Reserve Board – Agencies release annual asset-size thresholds under Community Reinvestment Act regulations



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    December 30, 2025

    Agencies release annual asset-size thresholds under Community Reinvestment Act regulations

    • Federal Reserve Board
    • Federal Deposit Insurance Corporation

    For release at 11:00 a.m. EST

    The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2026 updated Community Reinvestment Act (CRA) “small bank” and “intermediate small bank” asset-size thresholds.

    The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations. Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. The asset-size thresholds are adjusted annually based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a measure of inflation.

    As a result of the 2.51 percent increase in the CPI-W for the period ending in November 2025, the CRA asset-size thresholds for small banks and intermediate small banks are:

    • A small bank is an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.649 billion.

    • An intermediate small bank is a small institution with assets of at least $412 million as of December 31 of both of the prior two calendar years and less than $1.649 billion as of December 31 of either of the prior two calendar years.

    These thresholds are in effect from the latter of January 1, 2026 or the date of publication in the Federal Register through December 31, 2026. A list of the current and historical asset-size thresholds is available here.

    Last Update:
    December 30, 2025

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  • Home prices get more affordable, but down payments hold buyers back

    Home prices get more affordable, but down payments hold buyers back

    Mortgage rates are lower, home prices are easing, and there is more supply on the market for sale. All of that adds up to improved affordability for today’s homebuyers. Saving for a down payment, however, is still the biggest hurdle for first-time buyers.

    Prices nationally are basically flat compared with where they were a year ago, according to Parcl Labs, which runs daily studies of U.S. home prices. They dipped into negative territory earlier this month and are now just 0.3% higher year over year.

    The latest S&P Cotality Case-Shiller home price index, which reflects pricing from October, showed large disparities among metropolitan markets. Of the top 20 markets it highlights, Chicago; New York; and Cleveland, Ohio, had the biggest gains. Meanwhile eight cities showed prices in negative territory, with Tampa, Florida; Phoenix; and Dallas, Texas seeing the biggest losses.

    “National home prices also continue to lag consumer inflation, as October’s CPI is estimated around 3.1% (based on a provisional index the U.S. Treasury announced due to the federal data shutdown) – roughly 1.8 percentage points higher than the latest housing appreciation. In real terms, that gap implies a slight decline in inflation-adjusted home values over the past year,” explained Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, in a release.

    Mortgage rates, too, are coming down.

    The average on the 30-year fixed mortgage is currently at 6.19%, according to Mortgage News Daily. It started this year well over 7%. That decline means significant savings for homebuyers.

    For example, for a buyer putting down 20% on a $410,000 home (right around the national median), the monthly payment today is $200 less on average than it would have been a year ago. Weaker prices and lower rates are changing the math on what first-time buyers can afford.

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    The typical homebuyer now needs 7 years to save for a down payment, according to Realtor.com. That’s down from the recent peak of 12 years in 2022, but still roughly double pre-pandemic levels, partly because the personal savings rate is so much lower than it was in 2020.

    Down payments continue to be the biggest hurdle to homeownership, which in the second half of this year fell to 65%, according to the U.S. Census, the lowest level since 2019.

    But an improved supply of homes for sale is adding momentum to the market. Active listings are now about 12% higher than they were a year ago, according to Realtor.com, but still 6% lower than they were just pre-pandemic.

    And buyers appear to be responding. Pending home sales, which count signed contracts on existing homes, rose more than expected in November. They were 3.3% higher than October, 2.6% higher than November 2024 and hit the highest level in nearly three years, according to the National Association of Realtors.

    “Improving housing affordability–driven by lower mortgage rates and wage growth rising faster than home prices–is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market,” said Lawrence Yun, chief economist for the Realtors, in a release.

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  • December- Governor Glenn Youngkin Announces $6.2 Million in Growth and Opportunity Virginia Grants

    December- Governor Glenn Youngkin Announces $6.2 Million in Growth and Opportunity Virginia Grants

    RICHMOND, VA – Governor Glenn Youngkin today announced $6.2 million in Growth and Opportunity for Virginia (GO Virginia) grants for 10 projects that advance Virginia’s economic competitiveness through innovation, workforce development, and strategic industry growth. The awarded projects will leverage an additional $4 million in investment.  

    “GO Virginia continues to be a catalyst for innovation and opportunity across the Commonwealth,” said Governor Glenn Youngkin. “Virginia is stronger than ever, but we have to keep going. By investing $6.2 million in these projects, we are strengthening Virginia’s workforce, advancing key strategic industries, and keeping Virginia competitive for years to come.” 

    The latest round of projects includes investments in aviation maintenance training, industrial trades expansion, talent pathways in emerging technology sectors, regional innovation ecosystems and long-term strategic planning to position regions for transformational industry opportunities. 

    Several projects also leverage partnerships with school divisions, community colleges, and research universities to ensure their graduates’ skills align with emerging industry needs and Virginians can access high-quality pathways to higher-wage careers.  

    “Across the Commonwealth, we see alignment in support of stronger talent pipelines, commercialization activity, and the development of competitive sites,” said Emily O’Quinn, Chair of the GO Virginia State Board. “This kind of regional collaboration is the key to new jobs and more economic opportunities.” 

    Since 2022, GO Virginia has played a pivotal role in creating 1,100 new businesses, expanding another 1,100 businesses, and generating 25,000 jobs by fostering innovation, workforce development, and industry growth across 131 localities across the Commonwealth. GO Virginia has supported 147 projects, awarding $72 million in state funding and leveraging $61 million in matching non-state investments. In addition to creating new jobs and businesses, these investments have retained 12,500 jobs and launched 125 new programs that have trained 45,000 Virginians. 

    To learn more about how GO Virginia continues to fuel economic progress across the Commonwealth, visit dhcd.virginia.gov/gova. 

    Implementation Grant Applications

    Industrial Skills Trades Regional Expansion | $1,346,786 

    Region 3: Counties of Amelia, Buckingham, Charlotte, Cumberland, Halifax, Lunenburg, Mecklenburg, Nottoway, Patrick, Pittsylvania and Prince Edward, City of Danville 

    This regional initiative expands industrial skills trades training across Southern Virginia through partnership with Danville Community College (DCC) and Southside Virginia Community College (SVCC). The project will deliver industry-aligned programs in electrical, carpentry, HVAC, plumbing, and industrial maintenance. 

    Small Business Opportunity Center Expansion | $1,225,000 

    Regions 4 (lead), 5, 6, and 7: Counties of Arlington, Charles City, Chesterfield, Fairfax, Henrico, Prince George, Stafford; Cities of Alexandria, Fredericksburg, Norfolk, Portsmouth and Richmond  

    This project expands VCU’s Small Business Opportunity Center into Regions 5, 6, and 7 through partnerships with universities and entrepreneur support organizations across Central Virginia, Hampton Roads, Fredericksburg, and Northern Virginia. By increasing access to technical assistance and sector-specific expertise, the initiative aims to strengthen the growth of traded-sector startups and small businesses throughout the Commonwealth. 

    Expanding the GO TEC Career Pathways in Region 9 | $1,016,000 

    Region 9: Albemarle County, Greene County, and City of Charlottesville 

    Albemarle County Public Schools will establish the first GO TEC Career Connection Labs in Region 9 by installing new labs in all middle schools in Albemarle County, Greene County, and the City of Charlottesville. The labs will introduce students to high-demand skills through modules in IT coding and networking, automation and robotics, precision machining, electrical and mechanical engineering, manufacturing engineering, metrology, biotechnology, and welding.  

    HOMEWorks Initiative | $748,425 

    Region 1: Counties of Grayson, Russell, Smyth and Washington

    The HOMEWorks Initiative will establish a regional workforce training center dedicated to skilled trades education for modular construction and advanced manufacturing. Led by the Appalachian Highlands Housing Partnership, the project will partner with three Southwest Virginia community colleges to create a training pathway where students earn industry-recognized credentials not currently offered in Southwest Virginia. The training facility enables students to transition directly from classroom learning into on-site apprenticeships, internships and hands-on production experience. 

    Project RISE | $648,000 

    Region 2: Counties of Botetourt, Montgomery, Pulaski and Roanoke; City of Roanoke 

    Project RISE will strengthen the startup ecosystem across the Roanoke and New River Valley. The initiative includes technical commercialization assistance to move innovations to market, a dedicated mentorship hub, and access to on-call experts and advanced AI, digital and cloud-based tools for entrepreneurs. Through a coordinated regional effort, Project RISE will support early-stage and pre-seed companies, helping build a stronger pipeline of scalable startups across the region. 

    Danville Aviation Training Facility | $92,000 

    Region 3: Counties of Halifax, Mecklenburg, and Pittsylvania; City of Danville 

    The Danville Aviation Training Facility will support the aviation training center at the Danville Regional Airport and advance aviation maintenance education in Southern Virginia. Through partnerships with Danville Community College, Averett University and Danville City Public Schools, the project aims to expand the region’s pipeline for skilled aviation technicians and build on growing activity at the Danville Regional Airport. 

    Planning, Feasibility, and Small-Scale Pilot Grant Applications

    Blue Ridge Innovation Corridor Vision 2050 | $250,000 

    Regions 3 (Lead) and 2: Counties of Franklin, Botetourt, Montgomery, Henry, and Pittsylvania; Cities of Martinsville and Danville 

    The Blue Ridge Innovation Corridor Vision 2050 project will develop a regional strategy to guide long-term economic growth across Regions 2 and 3. Led by Region 3, the study will produce strategic recommendations across seven focus areas, including advanced manufacturing, life sciences and biotechnology, IT and emerging technology, infrastructure investment priorities, a funding roadmap and a governance model to support implementation. Vision 2050 is intended to position the corridor for coordinated investment, competitiveness, and cluster scale-up over the next 25 years. 

    VersAbility TECH Center | $100,000 

    Region 5: Cities of Hampton and Newport News 

    With support from Hampton and Newport News, the project will help address persistent workforce shortages by creating new training pathways that connect an underrepresented talent pool to employers across the region. The planning effort will provide the foundation for a future implementation project and long-term workforce pipeline development. 

    Northern Neck Sites Inventory | $100,000 

    Region 6: Counties of Lancaster and Westmoreland; Towns of Colonial Beach and Montross 

    Westmoreland County, in partnership with Lancaster County and the Towns of Colonial Beach and Montross, will create a coordinated inventory and prioritization strategy for 20 developable industrial and commercial sites in the Northern Neck. The project will produce a plan for future site-related investment. 

    VTTI Workforce Pathways Plan for ACE Technology in Region 2 | $99,999 

    Region 2: Counties of Pulaski, Montgomery, and Roanoke 

    This project will develop a strategic plan to grow the Region 2 workforce for Automated–Connected–Electrified (ACE) technology jobs, with a focus on electric and automated vehicles. The resulting plan will guide talent pipeline development to meet rising demand from employers in the EV and AV sectors. 

    NOVA TechWorks | $99,993 

    Region 7: Counties of Arlington and Fairfax; Cities of Alexandria and Fairfax 

    NOVA TechWorks will reskill and upskill the region’s tech workforce for high-demand roles in clusters tied to federal contracting and emerging technologies. The project responds to shifting hiring practices, workforce disruption caused by federal spending changes, and the rise of skills-based hiring. NOVA TechWorks will also support the region’s growing life sciences activity by advancing training in AI-enabled digital health through coordinated employer partnership models and integrated support services. 

    Working in Sync with Employers (WISE) | $99,556 

    Region 7: Counties of Prince William, Loudoun, and Fairfax 

    The George Washington University will develop the Working in Sync with Employers (WISE) initiative to strengthen Northern Virginia’s life and health sciences cluster by embedding AI competencies into biomedical data, digital health and clinical research training programs. WISE will pilot an employer-informed workforce model by building programs and strategies that connect students and job seekers with internships and job opportunities in high-growth sectors.  

    Vector Space Robotics Program Feasibility Study | $96,700 

    Region 2: County of Bedford; City of Lynchburg

    This project will assess the feasibility of expanding robotics education in the Lynchburg area through a comprehensive planning study. Findings from the study will help determine the regional demand for robotics training and chart a path that strengthens the region’s technical talent pipeline.

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  • Mayor Brandon M. Scott Announces Baltimore City’s Lawsuit Against Dave, Inc. For Unfair and Deceptive Practices

    BALTIMORE, MD (Tuesday, December 30, 2025) – Today, Mayor Brandon M. Scott announced that the City of Baltimore filed a lawsuit against Dave, Inc. (“Dave”), a digital lending platform, for misleading marketing and usurious interest charges that trap some of the most financially precarious residents in an exploitative cycle of debt. The Mayor and City Council of Baltimore, represented by the Baltimore City Department of Law and Berger Montague, filed the lawsuit against Dave for violating Baltimore’s Consumer Protection Ordinance (CPO) by misleading and manipulating consumers into taking out high-cost, high-frequency, small-amount, short-term loans known as ExtraCash Advances.

    “This lawsuit, like others we’ve filed, is about protecting Baltimore residents, especially those most vulnerable to financial scams,” said Mayor Brandon M. Scott. “Dave’s business practices are intentionally designed to trap individuals in cycles of debt. It’s not just unfair; it’s illegal, and we’re committed to holding them accountable for the damage they’ve caused.”

    “Businesses like Dave take advantage of consumers experiencing financial hardship,” said City Solicitor Ebony M. Thompson of the Baltimore City Department of Law. “My office will act to protect consumers who are being exploited.”

    The lawsuit alleges that Dave characterizes ExtraCash Advances as “earned wage access” or “overdraft services,” contrasting itself to high-cost payday lenders and big banks. However, ExtraCash Advances include “overdraft” fees that do not provide overdraft protection. They also induced customers to provide “tips” to fund meals for hungry children while passing only pennies on the dollar to charitable endeavors. Adding up these costs, Dave routinely charges more than 10 times the maximum APR allowed for consumer loans in Maryland, which is 33%.

    The City’s lawsuit against Dave builds on the momentum of the City’s efforts to hold fintech companies responsible for predatory practices with its October 1, 2025, action against MoneyLion. Both Dave and MoneyLion are part of a growing industry that causes a cycle of debt for consumers. Borrowing at $25, $50, or $100 at a time, consumers rack up huge costs paid to these companies. According to a recent study conducted by the Center for Responsible Lending, consumers using apps like MoneyLion and Dave see increases in overdraft fees after taking out their first loan. The same study found that nearly three-quarters of users take out more than one loan within a two-week period. These companies differ in the exact kind of fees they charge and how they characterize their products, but the result is the same for consumers: high costs and a cycle of debt.

    “Dave has concealed the true nature of its product to charge consumers astounding interest,” said James Hannaway of Berger Montague. “We are proud to stand with the City of Baltimore to protect vulnerable Baltimoreans from these unfair and deceptive tactics.”

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  • $10B in New Markets Tax Credit Allocations Announced

    Treasury and the Community Development Financial Institutions (CDFI) Fund announced $10 billion in New Markets Tax Credit allocations last week. This round of awards represents a 20% increase in rural and non-metro community investments, according to Treasury.

    Background

    The New Markets Tax Credit, under IRC § 45D, is intended to encourage investment in low-income communities. Taxpayers who make qualified equity investments in certified community development entities may be entitled to claim the credit as part of the IRC § 38 general business credit.

    To be a qualified equity investment, a community development entity must receive an allocation from the IRS and use substantially all cash funds from the investment for qualified low-income community investments.

    The New Market Tax Credit program has an annual cap on qualifying equity investments, with the IRS and Community Development Financial Institutions Fund allocating the capped amount among qualified entities through a competitive application process. The cap (after 2019) is $5 billion per calendar year.

    The New Market Tax Credit was made permanent under the One Big Beautiful Bill Act. That law also established a five-year carryforward for unused credits. Pre-OBBB, the carryforward period was through 2030 for all credits allocated in calendar years before 2026.

    2024-2025 Allocation

    Treasury referred to the latest round of allocations as a “double round” in a December 23 press release, because funding was provided for combined 2024-2025 calendar years. Application for the two-year allocation opened in November 2024.

    According to the CFDI Fund’s Award Book, this round included 142 allocations spanning 41 states, Puerto Rico, and the District of Columbia. The bulk of the allocations – 85% – will likely be used for loans to or investments in businesses located in low-income communities. The remaining 15% is expected to be used for real estate projects in low-income communities.

    And while the majority of investment areas are urban, the Award Book indicates that over $2.4 billion has been allocated to benefit rural areas. This exceeds the $1.9 billion rural investment baseline level.

    The CDFI Fund also shared an overview of the allocation review process, noting that it received 216 applications requesting a total of $19.2 billion. The overview runs through the “characteristics” of high-ranking applications. The CFDI Fund looked at applicants’ business strategy, including prior performance, and their “track record” of assisting disadvantaged businesses and communities.

    The CFDI Fund also assessed “community outcomes,” which include whether applicants would provide at least 85% of qualified low-income community investments in areas of “severe distress” or with multiple indicia of distress, and at least 20% to areas in “deep distress.” In addition, applicants were ranked according to how their investment would benefit low-income individuals, their tracking methodologies, and their record of “community engagement.”

    Future Allocations

    Though the New Markets Tax Credit is permanent, Treasury did not share details for applicants seeking funding in future rounds. It did, however, share broad principles for the next cycle.

    Treasury intends to focus on “lasting job creation” now that the program is permanent – including via support for small businesses and domestic manufacturing. It also plans to prioritize applications to boost affordable housing development and rural hospital and essential community health infrastructure.

    In addition, Treasury indicated it will modify allocation agreements to “ensure compliance with federal anti-discrimination laws” and President Trump’s executive orders.

    For more on the New Markets Tax Credit, see Checkpoint’s Federal Tax Coordinator 2d ¶ L-17920.

     

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  • SBP’s Dollar Purchases From Interbank Market Near $10 Billion in 16 Months

    SBP’s Dollar Purchases From Interbank Market Near $10 Billion in 16 Months

    The State Bank of Pakistan (SBP) purchased a net $9.7 billion from the domestic foreign exchange market between June 2024 and September 2025, according to data released by the central bank on Tuesday.

    The central bank’s data shows that the central bank remained a consistent buyer of dollars during the period.

    Net FX intervention includes outright and swap purchases of foreign exchange minus outright and swap sales conducted with banks in the interbank market.

    A monthly breakdown shows that the SBP purchased $573 million in June 2024, followed by $722 million in July, $569 million in August and $946 million in September.

    Buying accelerated in the following months, with purchases of $1.03 billion in October and $1.15 billion in November 2024, before easing to $536 million in December.

    In 2025, the central bank bought $154 million in January, $223 million in February, $860 million in March and $473 million in April.

    Purchases stood at $522 million in May and $502 million in June, followed by $189 million in July and $257 million in August. The largest monthly purchase in the later part of the period was recorded in September 2025 at $1.02 billion.

    Despite heavy intervention, SBP’s foreign exchange reserves showed mixed movement due to various inflows and outflows, according to data compiled by Arif Habib Limited.

    A strong rebound was seen in May and June 2025, when reserves jumped by a combined $4.23 billion to reach $14.5 billion. After some moderation in July, August and September, SBP reserves stood at $14.2 billion at the end of September 2025. Reserves rose to $10.74 billion in September 2024 after a sharp monthly increase of $1.3 billion and continued to climb to $12.03 billion by November 2024. However, reserves fell to $10.28 billion by April 2025.

    As of December 19, 2025, SBP’s foreign exchange reserves have risen to $15.9 billion.


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  • LVMH acquires Les Editions Croque Futur

    LVMH announces the acquisition, on December 30th, 2025, of 100% of the shares of French publishing house Les Editions Croque Futur. This strategic move integrates three leading publications—Challenges, Sciences & Avenir, and La Recherche—into the UFIPAR investment company. The acquisition builds upon UFIPAR’s previous investment in Les Editions Croque Futur alongside its founder Claude Perdriel.

    The move will enable Les Editions Croque Futur to accelerate the development and distribution of the three publications, particularly in digital format, thereby helping to secure their long-term future. It also reflects LVMH’s commitment to promoting high-quality information and scientific culture, as well as making it accessible to a wider audience.

    As part of this transaction, Maurice Szafran, a long-time advisor to Claude Perdriel, has been appointed President of Les Editions Croque Futur and will serve as publishing director for all three titles. His extensive experience and recognized expertise in the media industry will be a major asset for the long-term development of these publications.

    PDF VERSION

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  • Airport Runs? Here is How Yango Ride is Simplifying Travel For You And Your Foreign Guests

    Airport Runs? Here is How Yango Ride is Simplifying Travel For You And Your Foreign Guests

    The winter season is upon us, and with it come chilly gusts of wind and the long-awaited winter holidays. Pakistan’s airports are entering one of their busiest periods of the year.

    From early-morning departures to late-night arrivals, travellers are navigating tight schedules, heavy luggage, and the hassle of finding the right bag at the conveyor belt, while also braving the unpredictable traffic situation, which can go from bad to worse in a matter of minutes, making the journey to and from the airport just as critical and high-stakes as the flight itself.

    During the last few years, it has been noticed how airport mobility has become a major concern for urban commuters. This has resulted in a rise in missed flights due to traffic delays, cancellations by traditional transport at the very last minute, and uncertainty around arrival times. All of these factors have made travellers increasingly cautious, and understandably so.

    That is why more passengers are turning to ride-hailing platforms, as they offer predictable travel times, transparent pricing, and the option of real-time tracking. This is where platforms like Yango step in because they are increasingly being considered by travellers who want more control over timing, pricing, and predictability during airport commutes.

    Industry observers note that winter travel is attached to its own set of challenges. Some of these include foggy mornings, reduced visibility, and seasonal congestion. These often end up disrupting road traffic, while international and domestic flights continue to operate on strict schedules.

    For passengers travelling with families or carrying heavy luggage, it’s not just about the cost anymore. Reliability takes first place in such situations in order to avoid any unpleasant situations. For many travellers navigating these winter challenges, ride-hailing services such as Yango Ride offer a more reliable alternative during time-sensitive airport journeys.

    Yango Ride has positioned itself as a dependable option for getting to and from the airport during busy travel spells. The platform has seen increased adoption during peak travel periods, particularly among passengers prioritising punctuality and ease. With features such as real-time navigation, trained and professional partner drivers, and clear in-app ride details, the platform aims to minimize any chances of uncertainty for passengers commuting to or from the airport.

    Travellers have the ease of tracking their rides, accurately estimating arrival times, and avoiding the added stress of finding parking or coordinating multiple modes of transport.

    Another key factor behind the growing preference for ride-hailing platforms is the combination of luggage convenience and predictability. Services like Yango Ride, which focus on route efficiency and time visibility, are increasingly shaping how travellers approach airport transportation.

    App-based rides allow passengers to travel comfortably with baggage, without having to worry about space limitations or last-minute negotiations, which, dare we say, is an important factor during peak holiday travel when families are expected to carry extra luggage. At the same time, travellers value reliable ETAs and efficient routing, especially for flights at odd hours, making predictable mobility a need of the hour.

    As Pakistan’s travel volumes continue to rise, airport mobility is no longer just about reaching a destination, but also about ensuring peace of mind before and after a journey. With winter travel at its peak, reliable ride-hailing services like Yango Ride are fast becoming an essential part of the airport experience, helping travellers move with confidence in an otherwise hectic season.


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