IMF Backs $625 Million Loan Deal to Support Chad's Economy
The four-year extended credit facility arrangement will help Chad meet urgent balance-of-payments needs and support a $30 billion development plan by promoting fiscal sustainability and boosting social spending, the IMF said in a statement.
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Yahoo
40 minutes ago
- Yahoo
SergeFerrari Group: Revenue of €178.7 Million in the First Half of 2025
Continued sales momentum in the 2nd quarter of 2025 Growth exceeds 10% in the first six months of 2025 SAINT-JEAN-DE-SOUDAIN, France, July 29, 2025--(BUSINESS WIRE)--Regulatory News: SergeFerrari Group (FR0011950682 – SEFER), SergeFerrari Group (FR0011950682 - SEFER), a leading global supplier of innovative flexible composite materials, listed on Euronext Paris – Compartment C, today announced its revenues for the first half of 2025. Breakdown of sales by geographic area (unaudited) (€ thousands) 2ndquarter2025 2ndquarter2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates H1 2025 H1 2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates Europe 69,068 66,730 +3.5% +3.2% 128,589 120,519 +6.7% +6.5% Americas 14,979 8,325 +79.9% +86.4% 23,399 16,003 +46.2% +48.7% Asia – Africa – Pacific 15,512 13,387 +15.9% +16.0% 26,743 25,382 +5.4% +5.4% Total revenues 99,558 88,442 +12.6% +13.0% 178,731 161,904 +10.4% +10.5% Sébastien Baril, SergeFerrari Group's chairman of the Executive Board, stated: "Signs of improvement in our historic markets are gradually materializing. Serge Ferrari recorded an increase in revenues of over 10% in the first half of the year. This performance encourages us to continue our efforts to increase our operating leverage, our customer service and the flexibility of our cost structure in an environment where adaptability and responsiveness remain key." Q2 2025 activity The Group reported revenue of €99.6 million in the 2nd quarter of 2025, up 12.6% on a current scope and exchange rate basis, and up 13.0% on a constant scope and exchange rate basis compared with the same period last year. This change is due to: A currency effect of -0.4 %; A volume effect of -3.0%, due mainly to a fall in volumes of modular structures, for which the end markets are declining; A favorable price-mix effect of +16.0%, driven by a confirmed recovery in activities that have traditionally been profitable for the Group, such as Solar Protection and the new Solutions business lines, as well as the impact of price increases introduced to mitigate the negative effect of high inflation on certain raw materials. H1 2025 activity The Group posted sales of €178.7 million in the first half of 2025, up by more than 10% on both current and constant scopes and exchange rates. Half-year sales trends by geographical region are as follows: Europe posted solid revenue growth of 6.7% on a current scope and exchange rate basis and 6.5% on a constant scope and exchange rate basis, with sales of almost €129 million over the period, thanks to historic markets that remain well oriented. After a difficult 2024 exercise in North American markets, sales in the Americas rebounded strongly in the first half. Growth accelerated sharply between the 1st and 2nd quarters, taking half-year sales up to €23.4 million, representing growth at constant scope and exchanges rates of +49%. Sales in the Asia-Africa-Pacific region were up 5.4% on H1 2024, both on a current and constant scope and exchange rates basis, due to good momentum in the various markets. Outlook Based on a seasonal history between the first (driven by solar protection activity and tense architecture) and the second half of the fiscal year, the group will focus (despite an uncertain context, particularly on the geopolitical level) on maintaining its trajectory initiated with Transform 2025 that aims at increasing its adaptability and profitability. Financier calendar Publication of first half 2025 results on September 10, 2025, after market close. ABOUT SERGEFERRARI GROUP The Serge Ferrari Group is a leading global supplier of composite materials for Tensile Architecture, Modular Structures, Solar Protection and Furniture/Marine, in a global market estimated by the Company at around €6 billion. The unique characteristics of these products enable applications that meet the major technical and societal challenges: energy-efficient buildings, energy management, performance and durability of materials, concern for comfort and safety together, opening up of interior living spaces etc. Its main competitive advantage is based on the implementation of differentiating proprietary technologies and know-how. The Group has manufacturing facilities in France, Switzerland, Germany, Italy and Asia. Serge Ferrari operates in 80 countries via subsidiaries, sales offices and a worldwide network of over 100 independent distributors. At the end of 2024, SergeFerrari Group posted consolidated revenues of €323.6 million, more than 80% of which was generated outside France. SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). SergeFerrari Group shares are eligible for the PEA-PME and FCPI investment schemes. View source version on Contacts Valentin Chefson Head of Relations Investisseursinvestor@ NewCap Investor Relations – Financial Communication Théo MartinTel. : 01 44 71 94 94sferrari@
Washington Post
an hour ago
- Washington Post
IMF upgrades outlook for global economy, citing less-than-expected damage from Trump's trade wars
WASHINGTON — The International Monetary Fund is upgrading the economic outlook for the United States and the world this year and next because President Donald Trump's protectionist trade policies have so far proven less damaging than expected. The IMF now forecasts 3% growth for the global economy this year. That is down from 3.3% in 2024 but an improvement on the 2.8% it had forecast for 2025 back in April. The 191-country lender, which works to promote growth, stabilize the world financial system and reduce poverty, expects world growth to come in at 3.1% next year, up a tick from the 3% it had forecast three months ago. Trump's decision on April 2 – 'Liberation Day,'' the president called it -- to impose taxes of 10% or more on U.S. imports from most of the world's countries had been expected to be a bigger drag on global growth. But the damage was limited, the IMF said, partly because many U.S. importers scrambled to bring in foreign goods before Trump's tariffs took effect and partly because Trump ended up suspending his biggest levies (including a 145% duty on Chinese goods). 'This modest decline in trade tensions, however fragile, has contributed to the resilience of the global economy so far,' IMF chief economist Pierre-Olivier Gourinchas said at a press conference Tuesday. 'This resilience is welcome, but it is also tenuous. While the trade shock could turn out to be less severe than initially feared, it is still sizeable, and evidence is mounting that it is hurting the global economy.'' Tariffs raised $108 billion for the U.S. Treasury from October through June, nearly double the $55.6 billion they brought during the same period of the previous fiscal year. Global growth of around 3% is below pre-pandemic average and the world economy would be growing faster without Trump's trade wars. The IMF modestly upped its forecast for U.S. economic growth to 1.9% this year and 2% in 2026 when the big tax cuts Trump signed into law July 4 are expected to provide 'a near-term boost.'' The Chinese economy, the world's second biggest, is expected to grow 4.8% this year, a hefty upgrade from the 4% the IMF had forecast in April. China is getting a boost from lower-than-expected U.S. tariffs and from government spending. The 20 economies that share the euro currency are collectively expected to expand 1%, up from the 0.8% the IMF had forecast in April. But a big chunk of that growth is coming from a surge of pharmaceutical exports from Ireland, which were timed to beat Trump's expected tariffs on drugs. Japan remains in a slow-growth rut and is expected to eke an expansion of just 0.7% this year and 0.5% next. India is once again expected to be the world's fastest-growing major economy, expanding a forecast 6.4% this year and next. Trump has pressured Japan and the European Union to accept 15% U.S. tariffs on their exports. Indonesia, Vietnam and the Philippines also agreed to accept stiff U.S. tariffs. More such deals are expected before Friday when Trump will slap even higher tariffs on countries that don't agree make concessions. Trump's protectionism is buffeting global commerce. The IMF upgraded its forecast for growth in world trade, measured by volume, to 2.6% this year. That is up from the 1.7% it had predicted in April and reflects a surge in shipments as exporters tried to beat the tariff crunch. But eventually the higher U.S. levies are expected to take a toll. The IMF sees trade growing just 1.9% next year, down from the 2.5% it had forecast in April. Trump has also unsettled financial markets by openly and repeatedly criticizing Federal Reserve Chair Jerome Powell for the Fed's reluctance to cut American interest rates. Powell has said that the central bank must wait to better understands the impact of Trump's tariffs on inflation. That same message was delivered last week by the European Central Bank, which is also holding off on rate calls to measure the impact of Trump's tariffs. At the press conference Tuesday, IMF chief economist Gourinchas spoke up in favor of keeping central banks like the Fed independent from political pressure. 'The evidence is overwhelming that independent central banks, with a narrow mandate to pursue price and economic stability, are essential'' to containing inflationary pressure, he said. The Fed and other central banks raised rates after inflation flared up in 2021 and 2022. They managed a so-called soft landing — bringing inflation down without causing a recession. 'That central banks around the world achieved a successful 'soft landing' despite the recent surge in inflation owes a great deal to their independence and hard-earned credibility,' Gourinchas said.
an hour ago
US consumer confidence improves slightly in July, but Americans remain concerned about tariffs
WASHINGTON -- Americans' view of the U.S. economy improved this month, but Americans remain concerned about the impact of tariffs on their economic futures. The Conference Board said Tuesday that its consumer confidence index rose two points to 97.2 in July, up from 95.2 the previous month. The increase in confidence was in line with analysts' forecasts. In April, American consumers' confidence in the economy sank to its lowest reading since May 2020, largely due to anxiety over the impact of President Donald Trump's tariffs. A measure of Americans' short-term expectations for their income, business conditions and the job market rose 4.5 points to 74.4, however that's still significantly below 80, the marker that can signal a recession ahead. Consumers' assessments of their current economic situation inched down by 1.5 points to 131.5. Tariffs and the impact they could have on personal finances remains respondents' greatest concern, the Conference Board said. Trump's aggressive and unpredictable policies — including massive import taxes — have clouded the outlook for the economy and the job market, raising fears that the American economy is headed toward a recession. Consumers' fears of a recession during the next 12 months declined slightly in July but remain elevated and above last year's levels. Also Tuesday, the International Monetary Fund upgraded its economic outlook for the U.S. and the world this year and next because Trump's protectionist trade policies so far appear to be doing less damage than many expected. The IMF now forecasts 3% growth for the global economy this year. That's down from 3.3% in 2024, but an improvement on its previous forecast of 2.8% growth. Though concerns about inflation eased in July, it remains a major concern among respondents, who frequently mentioned higher prices in tandem with tariffs. Another government report earlier this month showed that consumer prices rose last month to its highest level since February Trump's sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Consumer prices rose 2.7% in June from a year earlier, up from an annual increase of 2.4% in May. Core prices, which exclude the volatile food and energy categories, also rose. Economists pay close attention to core prices because they generally provide a better indication of where inflation is headed. In the Conference Board's survey, respondents' views of the job market deteriorated for the seventh straight month, though the reading remains in positive territory as the U.S. labor market continues to churn out jobs. In June, U.S. employers added a surprisingly strong 147,000 jobs and the unemployment rate ticked down unexpectedly to 4.1%. However, those headline numbers masked some weaknesses as the U.S. economy contends with fallout from Trump's economic policies. The Labor Department said Tuesday that U.S. employers posted 7.4 million job vacancies last month, down from 7.7 million in May. The number of people quitting their jobs — a sign of confidence in their prospects elsewhere — dropped last month.
