Nomura Triples Q1 Profit as Deflation Ends

TOKYO: Nomura Triples Q1 Profit as Deflation Ends, Nomura Holdings, Japan’s leading brokerage and investment bank, announced a 195 percent surge in first-quarter profit on Tuesday (July 30). The significant increase was driven by a strong global market rally and the resurgence of domestic inflation, which fueled higher demand for its wealth management services.

The results highlight Nomura’s successful transition to a fees-based profit model, aimed at achieving more stable revenue that is less vulnerable to market fluctuations.

Nomura said net profit in the April-June period was ¥68.9 billion (US$446 million) versus ¥23.3 billion a year earlier.

The end of deflation in Japan has encouraged retail clients to move into investment products, Nomura’s chief financial officer Takumi Kitamura told a media briefing.

“The major update to our business structure since last spring and the shift in our customers’ mindset from savings to investment has meant we were able to achieve strong results,” Kitamura said.

Alongside this, the global market rally led to improved client sentiment and higher sales of US and global stock funds, Nomura said.

The wealth management business is growing steadily as people increasingly shift more of their savings to investment, Chief Financial Officer Takumi Kitamura said at a news briefing in Tokyo. Still, he said more needed to be done to address a stubbornly high cost ratio in the wholesale division that houses trading and investment banking operations.

“The domestic retail business did very well indeed,” said Michael Makdad, an analyst at Morningstar in Singapore. “On the other hand, the wholesale business continues to be a bit lackluster, with the expense ratio still high.”

Investment banking revenue rose 22% from a year earlier, growing for the fifth consecutive quarter. Advisory business had a strong quarter in Japan but slowed abroad, the firm said.

Philippines Plans Boost in Defense Spending for 2025

MANILA: On Monday (Jul 29), the Philippines’ budget ministry announced a 256.1 billion pesos (US$4.38 billion) defense budget for 2025, marking a 6.4% increase from the current year’s allocation. This boost aims to support the country’s efforts to modernize its military and enhance external defenses.

The proposed increase in defence spending comes at a time of growing tensions with Beijing over territorial disputes in the South China Sea, which China mostly claims as its own.

The defence budget, accounts for 4.0 per cent of the government’s proposed 6.35 trillion pesos spending plan for 2025, which the budget ministry submitted to Congress on Monday for approval.

Of the total defence budget, 204.4 billion pesos will go to land, air forces and naval forces defence programmes, the budget ministry said, while 50 billion pesos will help fund the armed forces’ revised modernisation plan, which reflected a shift in strategy away from internal to external defence.

The planned defence spending is dedicated to “uphold our sovereignty and territorial integrity”, Budget Secretary Amenah Pangandaman, told lawmakers.

Thousands Affected by Flooding in North Korea

SEOUL: Thousands Affected by Flooding in North Korea, On Monday (Jul 29), state media reported that over 5,000 people stranded by severe flooding in northwest North Korea were successfully rescued through airlifts and other evacuation efforts overseen by leader Kim Jong Un. The extensive rescue operation aimed to assist those isolated by the devastating floods.

Heavy rainfall on Saturday had caused a river on the North Korean-Chinese border to exceed a dangerous level and created “a grave crisis”, the official Korean Central News Agency said.

About 10 military helicopters and navy boats were mobilised for the evacuation efforts in Sinuiju city and Uiju town where flooding had isolated residents.

KCNA did not mention any deaths or how much damage the flooding caused. It said each of the about 10 helicopters made several fights to move the residents despite bad weather, ultimately rescuing 4,200 of the affected people by airlift.

It said Kim guided the evacuation works Sunday, ordered food and other necessities to be provided to affected people, and set tasks for recovery and relief works.

KCNA cited Kim as calling the rescue works “miraculous” as more than 5,000 people were saved through the efforts.

Summer floods in North Korea often cause serious damage to farmlands due to poor drainage, deforestation and dilapidated infrastructure. Typhoons and torrential rains in 2020 were among the difficulties Kim previously said had created “multiple crises” at home, along with draconian pandemic-related restrictions and UN sanctions over his nuclear weapons program.

Kim stressed that the irresponsible attitude of those tasked with ensuring people’s safety should not be overlooked. He said the North’s emergency response agency and the Ministry of Public Security didn’t even know the exact populations of the flood-hit areas so the number of people rescued was larger than expected.

China Stuns Serbia in 3×3 Basketball Upset

PARIS: China Stuns Serbia in 3×3 Basketball Upset, In an unexpected turn of events on Wednesday (Jul 31), China defeated gold medal favorites Serbia 21-15 in the men’s 3×3 basketball pool stage at the Paris Olympics, marking a significant upset on the second day of competition.

PARIS: On Wednesday (Jul 31), China, the fourth seeds, achieved a surprising 21-15 victory over gold medal favorites Serbia in the men’s 3×3 basketball pool stage at the Paris Olympics. Zhang Ning led the charge with 11 points, as China displayed exceptional skill by sinking 80% of their one-pointers and hitting 50% of their two-point shots.

PARIS: On Wednesday (Jul 31), China stunned gold medal favorites Serbia with a 21-15 win in the men’s 3×3 basketball pool stage at the Paris Olympics. The fourth seeds, guided by Zhang Ning’s 11 points, excelled with 80% shooting on one-pointers and 50% on two-pointers. Serbia’s Strahinja Stojacic, the World Player of the Year, struggled, scoring just one point on seven shots and committing the decisive foul that enabled China to seal the victory with free throws.

Katherine and Michelle Plouffe, the number one and number three players in the world, combined for 12 points, while number two ranked Paige Crozon chipped in with seven points.

Shortly afterwards, Latvia’s men’s defending Olympic champions dispatched the Netherlands 21-12 in a tense game for their second win of the competition as storm clouds loomed over the Place de la Concorde in central Paris.

The Dutch were hampered by poor shooting from beyond the two-point line by Worthy de Jong, the country’s flag bearer for the opening ceremony.

In a late afternoon game, Australia’s women recorded their first win of the tournament with 46 seconds left on the clock, when Alex Wilson’s two-pointer gave them a 21-19 win over Germany.

Matsuyama Takes Early Lead Schauffele Close Behind.

GUYANCOURT: Matsuyama Takes Early Lead Schauffele Close Behind, Hideki Matsuyama of Japan surged ahead in the early stages of the men’s Olympic golf tournament, aiming to improve on his fourth-place finish from Tokyo. Meanwhile, French golfers Victor Perez and Matthieu Pavon drew enthusiastic support from the crowd in the sunny setting south of Paris.

Matsuyama, who narrowly missed out on a bronze medal at home three years ago after a seven-way playoff, delivered an impressive performance with an eight-under-par, bogey-free round of 63. His stellar play underlined his determination to surpass his previous Olympic result and secure a top spot this time.

That round placed the top-ranked Asian player three strokes clear of the nearest challengers: Chile’s Joaquin Niemann, Argentina’s Emiliano Grillo, and South Korea’s Tom Kim, all of whom posted clubhouse scores of five under par.

Out on the course, however, defending Olympic champion Xander Schauffele of the United States was closing in on the lead at seven under after 14 holes, suggesting he had brought to Paris the form that helped him claim two major titles since May.

U.S. world number one Scottie Scheffler was within touch at four under after completing his first round, which he played alongside Ireland’s world number three Rory McIlroy, who was at three under.

The 60 contenders will all play four rounds at Le Golf National in a stroke play format, with the medallists taking the fewest number of shots to complete the 72 holes.

France’s Victor Perez started the tournament with the opening tee shot at 9 a.m. (0700 GMT) to enthusiastic applause. He finished the round at one under par, while compatriot Matthieu Pavon was one over par after 13 holes.

Embarking on a Path to Financial Freedom with Brent Kesler 

Imagine discovering a hidden pathway that leads directly to financial freedom. That’s precisely what happened to Brent Kesler in 2006. Initially sceptical, Brent’s interest was piqued after witnessing his colleagues harness the Infinite Banking Concept with remarkable success. This ignited a spark in him to dive deeper and apply this concept himself. The result? He eradicated nearly a million dollars in debt in just 39 months without altering his cash flow or increasing his risk. Today, Brent is committed to sharing this powerful method through The Money Multiplier, transforming the financial landscapes of thousands in his years of teaching this concept. 

The Essence of The Money Multiplier: Empowering Financial Independence 

Brent’s motivation for sharing the Money Multiplier (TMM) Method stems from its effectiveness in paying off his debt and maintaining control over his finances. This method isn’t about labouring harder or embracing greater risks; it’s about making smart, strategic modifications to how you manage your finances—much like the world’s wealthiest families have done for generations. “We need to break the chains of financial slavery that many people don’t even realize they’re in,” Brent says. “Whether you earn $10 an hour or $10,000 – everyone needs to take charge of their financial future.” 

Building and Maintaining Client Relationships 

What distinguishes The Money Multiplier is its steadfast commitment to its clients. Brent and his team don’t merely initiate financial strategies; they commit to a lifelong partnership. Brent and his team offer ongoing support through their Implementation Team. With tools like the TMM Map and cash flow analysis, they help clients adapt their financial strategies to suit life’s various phases. This ongoing support is a cornerstone of their service, ensuring that clients feel empowered and informed every step of the way. “Our approach to client relationships is something we do better than anyone else in this industry,” Brent proudly states. “We stay with our clients, helping them adjust their strategies as their financial situations change.” 

Success Stories That Inspire 

The true measure of The Money Multiplier’s efficacy can be seen in the success stories of its clients. These aren’t merely financial transformations; they are life-altering experiences that have enabled individuals and families to not only erase debt but also to secure and enhance their wealth effectively. One particularly inspiring testimonial comes from a client who shared their journey: “We’re still on our strategy and it’s all going well. Since we set up our IBC policy 2.5 years ago, we’ve used it to eliminate 75% of our debt load; the only thing we have left is our personal residence and we will have that paid off in 4-5 years… that’s paying off our mortgage in 10 years instead of 30. All told, including using my work bonuses wisely, in 7 years we will have paid off almost $600k in debt. From there, we will reach out to you to shift from using IBC for debt management to income production. We’ve been very pleased with our decision to leverage the power of IBC as part of our overall financial strategy.” This testimonial not only highlights the tangible benefits of the method but also illustrates the 

strategic planning and personal commitment required to achieve such results. Through The Money Multiplier, clients find not only financial solutions but also a partner committed to them long-term success and financial well-being.

Overcoming Misconceptions 

Brent often encounters scepticism and misconceptions about personal finance. He understands this hesitancy, as he once shared similar doubts. However, his experiences and the successes of his clients speak volumes. Brent passionately advocates for an open-minded approach when considering these financial strategies, emphasizing the importance of a broader perspective. He advises, “Don’t focus too much on small details. Stay open-minded and look at the facts. The track record and historical success of these methods speak for themselves.” The historical success of these methods is a testament to their efficacy. 

Tailoring Seminars to Diverse Audiences 

Recognizing that everyone’s financial situation is unique, Brent goes the extra mile to customize his seminars to address the specific needs of diverse audiences—from real estate investors to antique car collectors. This personalized approach ensures that every attendee can see how the Infinite Banking Concept can be directly applied to their own financial scenarios. “The Infinite Banking Concept is versatile,” Brent explains. “You can use it for anything in your financial life, from buying cars to investing in real estate. The possibilities are infinite.” 

Effective Time Management 

Running The Money Multiplier effectively requires superb time management, especially since Brent is committed to being accessible to his clients seven days a week. By delegating responsibilities to specialized team members, he ensures that every client receives timely and effective support. Brent believes in the power of teamwork, stating, “A successful team is all about staying in your lane and letting experts handle their areas of responsibility,” Brent notes. “This way, we can serve more clients and maintain our sanity.” 

The 90-Minute Financial Presentation 

Brent’s 90-minute financial presentation is a cornerstone of The Money Multiplier’s educational efforts. This presentation breaks down complex financial concepts into simple, relatable examples, making it accessible to everyone. Whether delivered live or virtually, these sessions are packed with real-life examples that underscore the effectiveness of the strategies discussed. “Keep it simple,” Brent advises. Real-life examples demonstrate how this method can work in anyone’s life, making financial concepts easy to understand and apply. 

The Client Journey 

After watching the 90-minute presentation, clients typically schedule a strategy call with a Money Mentor to get their questions answered and see how the TMM Method can be applied to their lives. From there, they proceed with the application process, which involves qualifying for a policy. Once the policy is in force, the Implementation Team steps in to provide ongoing support and updates. The real work begins once the policy is active, with continuous support from The Money Multiplier team to help clients achieve their financial goals. 

The Future of The Money Multiplier 

As The Money Multiplier looks to the future, Brent sees endless opportunities for growth and more success stories. His goal is to help as many people as possible escape the limitations of conventional financial thinking and embrace a more empowered way of managing money. “People are tired of the conventional financial systems,” Brent reflects. “They want something different, and we’re here to provide that solution. We’re dedicated to teaching and educating people on how money works.”

Long-Term Impact 

This approach isn’t just about achieving short-term financial gains; it’s about making a long-term investment in your financial well-being, creating lasting security and independence that can profoundly change your life. As Brent puts it, “When you start this process, it will drastically change your financial life. We’re using tools that the wealthy have been utilizing for over 200 years. It’s a proven method that works.” The Money Multiplier continues to empower individuals across the country, helping them achieve financial freedom and control over their wealth. Through education, personalized support, and a commitment to client success, Brent and his team are making a significant impact on the financial well-being of their clients. 

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