Latest news with #240
TimesLIVE
6 days ago
- Automotive
- TimesLIVE
Dutch car-sharing firm plugs into Renault EVs with V2G technology
The global V2G market was worth $3.4bn (R60,694,874,240) in 2024, according to Global Market Insights, and is expected to grow by 38% annually between 2025 and 2034 to reach $80bn (R1,428,568,000,000). The Netherlands is an early adopter of V2G technology due to ambitious plans to electrify its transport and heating systems while also moving to renewables. Japan's Nissan has also recently supplied dozens of V2G-enabled Leaf and Ariya models to France and Spain. MyWheels said 500 of Renault's V2G-compatible cars, including its electric R5, will be on the road by next year. When not driving, the cars will be plugged into We Drive Solar's bidirectional chargers and the scheme's operators will be paid for electricity absorbed and sold to the grid. Grids have become increasingly unstable with growing electrification and as more intermittent renewable energy is fed into the system. 'Our research shows vehicle-to-grid technology could allow the growing electric vehicle fleet to become a significant asset to the grid, with vast storage potential locked up in electric vehicles,' said Madeleine Brolly, advanced transport analyst at Bloomberg New Energy Finance. A key challenge ahead will be standardisation across manufacturers, which will be needed for it to be adopted at scale, she said.
The Sun
22-05-2025
- The Sun
Penang KPDN seizes RM36,240 worth of illegal diesel in raid
BUKIT MERTAJAM: The Penang branch of the Domestic Trade and Cost of Living Ministry (KPDN) seized a lorry and 2,000 litres of diesel worth a total of RM36,240 during an Ops Tiris 3.0 raid at a petrol station in Simpang Ampat near here yesterday. Its director, S. Jegan, said the department received a public complaint regarding the activity before conducting an operation at 9.30 pm and successfully detected a lorry involved in suspicious diesel refuelling activities. 'A team of enforcement officers conducted an inspection and found a lorry transferring diesel into an IBC tank. Further checks revealed two modified IBC tanks connected with hoses and pumps from the original tank, with an estimated capacity of 1,000 litres, located at the back of the lorry. 'Further checks found that the lorry driver, a local man, failed to produce any authorisation documents to deal with the controlled goods,' he said in a statement today. He added that the department seized all items, including a lorry, a set of hoses and pumps, and two IBC tanks containing 2,000 litres of diesel, all valued at RM36,240, as well as several business documents to assist in the investigation. Jegan said further investigation was underway to identify individuals or companies involved in the diesel distribution chain.
The Sun
22-05-2025
- The Sun
Penang KPDN seizes RM36,240 worth of illegal diesel
BUKIT MERTAJAM: The Penang branch of the Domestic Trade and Cost of Living Ministry (KPDN) seized a lorry and 2,000 litres of diesel worth a total of RM36,240 during an Ops Tiris 3.0 raid at a petrol station in Simpang Ampat near here yesterday. Its director, S. Jegan, said the department received a public complaint regarding the activity before conducting an operation at 9.30 pm and successfully detected a lorry involved in suspicious diesel refuelling activities. 'A team of enforcement officers conducted an inspection and found a lorry transferring diesel into an IBC tank. Further checks revealed two modified IBC tanks connected with hoses and pumps from the original tank, with an estimated capacity of 1,000 litres, located at the back of the lorry. 'Further checks found that the lorry driver, a local man, failed to produce any authorisation documents to deal with the controlled goods,' he said in a statement today. He added that the department seized all items, including a lorry, a set of hoses and pumps, and two IBC tanks containing 2,000 litres of diesel, all valued at RM36,240, as well as several business documents to assist in the investigation. Jegan said further investigation was underway to identify individuals or companies involved in the diesel distribution chain.
TimesLIVE
06-05-2025
- Business
- TimesLIVE
Sunoco to buy rival Parkland in $9bn deal
Sunoco will buy Canada-based Parkland in a deal valued at about $9.1bn (R166,457,655,000), including debt, the US fuel supplier said on Monday, a move that would create the largest independent fuel distributor in the Americas. Parkland management hailed the deal as a path to greater financial stability and growth. The company had undertaken a strategic review in March after persistent pressure from Simpson Oil, its largest shareholder with a nearly 20% stake, and activist investor Engine Capital. Simpson expressed its displeasure with the deal on Monday, a sign internal turmoil at the Canadian company is not over. Under terms of the deal, each Parkland share will be exchanged for C$19.80 (R261,86) in cash and 0.295 Sunoco unit, a 25% premium over the seven-day volume-weighted average price. Parkland cancelled its May 6 annual general meeting and instead scheduled a special meeting for June 24 at which Parkland shareholders will vote on the Sunoco transaction. In a statement on Monday, Simpson Oil, which had been trying to wrest control of the company's board by proposing its own proxy slate of board candidates, said it has applied for a court injunction to force Parkland to hold the annual general meeting on May 6 as initially planned. Simpson said Parkland's board is pushing ahead with the deal despite losing shareholders' confidence, calling it a "last-ditch attempt" by the company to retain control. Shares of Sunoco, which operates in wholesale fuel distribution and retail convenience, were down 5.6% at midday while those of Parkland were up 6.3%. The acquisition marks the company's second major deal in recent years. In 2024, Sunoco acquired fuel storage and pipeline operator NuStar Energy for $7.3bn (R133,488,521,240). The Parkland deal is expected to close in the second half of the year and deliver more than $250m (R4,570,880,000) in annual cost savings by the third year. Sunoco said the transaction will boost cash flow by more than 10% and allow the combined company to return to its target debt levels within 12 to 18 months of closing. To fund the cash portion, Sunoco has secured a $2.65bn (R48,451,328,000), 364-day bridge loan, a short-term facility often used to bridge financing gaps in large deals. On a call with analysts, executives said the companies will distribute more than 15-billion gallons of fuel annually and strengthen their position across wholesale and retail markets. Sunoco will keep investing in Parkland's Burnaby Refinery, which makes cleaner, low-carbon fuels, and run it for the long term to supply fuel to the Lower Mainland region in Canada.
Time of India
05-05-2025
- Business
- Time of India
Gahlaut can save Rs 1.8 lakh tax by switching to new tax regime
Hyderabad-based data scientist Raghav Gahlaut is paying a high tax because his salary structure is not tax-friendly and he doesn't claim all deductions available to him. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad Gahlaut has opted to stay in the old tax regime because he gets tax-free perks, has a big home loan, and puts money in tax-saving investments. 'I know I could have saved more tax by investing in the NPS , but there is no surplus after my big home loan EMI of Rs.83,000,' he says. Even without the NPS investment , he will pay a marginally lower tax if he switches to the new tax regime . His tax outgo will reduce by Rs.1,16,240. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Algeria (Take A Look At The Prices) Container House Search Now Undo More tax can be saved if Gahlaut asks his employer to offer him the NPS benefit under Section 80CCD(2). NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees significantly. Live Events If the company puts 14% of the basic salary in the NPS, Gahlaut will save Rs.65,520 more under the new tax regime. Gahlaut and his family are covered by group health insurance from the company, but he has bought a cover on his own as well. He will not get tax deduction for the medical insurance premium under the new regime, but he should not stop it. If he wishes to stay in the old tax regime this year, he should reduce the special allowance component by Rs.2,10,000, stop ELSS SIPs, reduce contribution to the PPF to Rs.1,000 a year, and invest in the corporate NPS instead. He should also switch from fixed deposits to debt funds to lower the tax outgo. The old regime is marginally better for Gahlaut this year. However, the new tax regime is better for him from next year onwards as he stands to save Rs.1,81,740 under the new regime. WRITE TO US FOR HELP Paying too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments .
