Latest news with #582
Hans India
21-06-2025
- Business
- Hans India
Cognizant to build IT campus in Vizag, generate 8,000 jobs
Visakhapatnam: In a significant development for Andhra Pradesh's IT ecosystem, Cognizant Technology Solutions is all set to establish a world-class IT/ITES campus in Visakhapatnam with an investment of Rs.1,582.98 crore. Providing the much-needed relief to unemployed youth, the project is expected to generate 8,000 jobs over the next few years. In connection with it, Cognizant sought 21.31 acres of land at Kapuluppada and the state government would allot the Visakhapatnam Metropolitan Region Development Authority land for a nominal rate of just 99 paisa. In a move which is considered another major endeavour for Visakhapatnam as an emerging hub for IT investments, setting up IT/ITES campus is in alignment with IT minister Nara Lokesh's vision to draw investments and develop IT across Andhra Pradesh. The company has set a target of March 2029 for the commencement of its commercial operations. With the entire project being 100 per cent self-funded, Cognizant's expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh that further cements the state's reputation as a future IT hub. Welcoming the move, government whip P G V R Naidu (Ganababu) expressed gratitude to IT minister Nara Lokesh for bringing multinational companies to Visakhapatnam. 'The IT minister kept up his promise made to IT employees. It is a commendable initiative to create employment for 8,000 people with an investment of Rs.1,582 crore. With this, the long-cherished dream of Vizagites is going to become a reality soon,' he posted on the 'X' (formerly Twitter).
The Star
18-06-2025
- Entertainment
- The Star
Wang Ta-lu charged in offences relating to dodging Taiwan's military service
Actor Wang Ta-lu has been charged with knowingly causing a public official to make a false entry in a public document. Photo: Wang Ta-lu/Instagram Taiwanese actor Wang Ta-lu and 27 others were charged on June 16 with offences relating to dodging the island's mandatory military service, prosecutors said. Mandatory military service for men aged 18 and older was extended to one year from the previously obligatory period of four months, taking effect at the beginning of 2024. Deferment can be granted for higher education, although all men are required to serve in the military by the time they turn 36. Wang, 34, also known as Darren Wang, is a popular actor in Taiwan, South Korea and China. News of his questioning by the police in February was the top trending topic on China's X-like social media platform Weibo. The New Taipei District Prosecutors Office said in a statement that Wang had been charged with knowingly causing a public official to make a false entry in a public document. Wang allegedly paid the prime suspect in the case, a person surnamed Chen, NT$3.6mil (RM517,582) to handle matters related to evading military service. Chen was detained before he could carry out the plan, which involved another defendant using Wang's identity and health insurance cards to go to hospital under the actor's name, prosecutors said. Chen and another 26 defendants were also charged with violating the military service system by 'hurting the body or using other methods to change the physical conditions'. Under Taiwanese law, anyone found guilty of that offence faces up to five years in prison. 'The conscription system is the cornerstone of maintaining social stability and national security,' prosecutors said, warning that using illegal means to evade it would undermine social order and national security. Wang, who was granted bail and was set to begin his military service in March, faces a maximum term of three years in prison if found guilty. Chen could face at least five years in jail for enabling a large number of conscripts to dodge conscription and pocketing NT$7.63mil (RM1.09mil). – AFP
Daily Tribune
13-05-2025
- Business
- Daily Tribune
AlAbraaj Announces Strong Profits
TDT | Manama AlAbraaj Restaurants Group B.S.C. has announced a strong start to the year, reporting sustained profitability and advancing its strategic expansion plans. The company's Board of Directors met on Monday and approved a dividend payout of 60 percent of first quarter profits to shareholders, underlining its confidence in the business outlook. Solid financials The group recorded a net profit before associated income of BD146,982 for the three months ended March 31, reflecting a 1.8 percent increase compared to the same period last year. Net profit after associated income rose by 7.1 percent to BD125,810. Revenue for the quarter reached BD3,582,260, reflecting the anticipated seasonal impact of Ramadan and the temporary refurbishment of two outlets, both of which have since successfully resumed operations. Total assets stood at BD27,318,014 with total equity holding firm at BD14,519,517, demonstrating the company's strong balance sheet and financial stability. Expansion initiatives AlAbraaj Restaurants Group is pushing ahead with an aggressive expansion strategy. Three new outlets have opened in Bahrain, including the Camel Club Café at Al Liwan in Hamala on Monday, Lumee at Bahrain City Centre, and Orso, a new Italian dining concept, at The Avenues Bahrain. Additionally, the group has established a wholly owned subsidiary in Saudi Arabia, with plans to open a flagship restaurant in Riyadh in 2026. The regional footprint was further strengthened with the launch of a YaSalam franchise at Jeddah Airport in March. Cost management success Despite challenging market conditions, the company has maintained profitability through stringent cost control measures. Finance costs were reduced by 27.22 percent, supported by a strategic partial principal payment of BD3 million following the company's IPO. AlAbraaj said these measures reflect its commitment to financial discipline while pursuing growth across Bahrain and the wider GCC region. The company remains confident in its ability to leverage its strong financial position to support ongoing investments and expansion plans. The group announced that all branches across Bahrain are fully operational, following successful refurbishments that enhanced service offerings and improved customer experience during the first quarter. AlAbraaj celebrated the opening of three new outlets in Bahrain, reflecting its commitment to introducing fresh concepts and strengthening its leadership position in the Kingdom's dynamic dining scene. The company's establishment of a wholly owned subsidiary in Saudi Arabia was described as a major step forward in its regional expansion strategy, with the upcoming Riyadh flagship restaurant poised to anchor its growing footprint in the Kingdom. AlAbraaj reaffirmed that its substantial asset base and strong equity levels provide a powerful platform to support its ambitious growth agenda, allowing it to capitalise on emerging opportunities and deliver sustained value to stakeholders.
Business Recorder
28-04-2025
- Business
- Business Recorder
Gold: price disparity confuses investors
KARACHI Gold buyers in Pakistan face conflicting pricing trends, with the open market hitting a historic high of Rs369,300 per tola, while the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) announced a sharp decline to Rs347,100 per tola, traders said on Monday. The disparity has left investors confused, as the open market reflects real-time global trading dynamics, whereas APSGJA—a non-trading platform —sets benchmark rates. According to the association, gold fell by Rs1,600 and Rs1,368 to Rs347,100 per tola and Rs297,582 per 10 grams, respectively. In contrast, open market rates surged amid active trading. Globally, gold dipped by $16 to $3,289 per ounce, while silver held at $33 per ounce. Domestically, APSGJA quoted silver at Rs3,497 per tola and Rs2,998 per 10 grams. Analysts note the open market's rates align more closely with international fluctuations, unlike the association's fixed valuations, creating a dual pricing challenge for traders and consumers. Copyright Business Recorder, 2025
Express Tribune
28-04-2025
- Business
- Express Tribune
Gold on downward trend amid trade optimism
Gold prices fell both in the local and international markets. In Pakistan, the price of gold per tola dropped by Rs1,600 on Monday, bringing it down to Rs347,100. Similarly, the price for 10 grams of gold declined by Rs1,368, settling at Rs297,582, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Friday, the gold rate had also decreased, falling by Rs3,300 to close at Rs348,700 per tola. International prices for Pakistan also weakened on Monday. According to the APGJSA, the international price stood at $3,289 per ounce, reflecting a $16 drop during the day. Gold prices dipped for a second consecutive session on Monday as US-China trade tensions eased, with markets awaiting key economic data later this week. Spot gold was down 0.6% at $3,297.10 an ounce. US gold futures rose 0.3% to $3,307.80, according to Reuters. "Optimism still persists over a US-China trade deal even though there is a lack of clarity," Zain Vawda, analyst at MarketPulse by OANDA, said. Rupee slips Meanwhile, the Pakistani rupee recorded a slight decline against the US dollar, slipped by 0.04% during inter-bank trading on Monday. By the end of the session, the rupee settled at 281.07, down by 10 paisas compared to the previous day's closing rate.
