Latest news with #584
TimesLIVE
24-07-2025
- Business
- TimesLIVE
Ethio Telecom's full-year pretax profit up more than 80%
Ethiopia's state-owned Ethio Telecom reported sharply higher annual profit on Thursday, driven by an expansion of its network and more customers. CEO Frehiwot Tamiru said pretax profit for the year ended June leapt more than 80% year-on-year to about 76-billion birr (R9.70bn). The company, which the government is privatising as part of a wider liberalisation of the tightly controlled Horn of Africa economy, held an initial public offering that closed early this year but sold only 10.7% of the shares on offer. The sale was restricted to Ethiopian citizens, with a 1-million birr (R127,584) limit on shares that any one investor could buy. The firm's total number of subscribers rose 6.3% to 83.2-million during the year, while subscribers to its financial service Telebirr increased 15.3% to 54.8-million, Frehiwot told a press conference.
Business Recorder
18-07-2025
- Business
- Business Recorder
Gold price per tola gains Rs2,500 in Pakistan
Gold prices in Pakistan increased on Friday in line with their gain in the international market. In the local market, gold price per tola reached Rs357,600 after a gain of Rs2,500 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,584 after it accumulated Rs2,143. On Thursday, gold price per tola reached Rs355,100 after a loss of Rs900 during the day. The international rate of gold also increased on Friday. The rate was at $3,351 per ounce (with a premium of $20), a gain of $25, as per APGJSA. Meanwhile, silver price per tola increased by Rs48 to reach Rs4,012.
TimesLIVE
18-07-2025
- Automotive
- TimesLIVE
Japanese voters see little hope for tariff reprieve in Mazda's hometown
When carmaker Mazda sneezes, everyone catches a cold, say people in its hometown of Hiroshima in western Japan, but these days car parts maker Yuji Yamaguchi fears a deep chill is on the way. "If Mazda builds fewer cars our orders will drop," said Yamaguchi, whose 110-year-old firm, Nanjo Auto Interior, has almost 1,000 employees making door panels and other parts for the carmaker, which accounts for more than 90% of its sales. "The key thing is whether we can remain profitable with lower volumes." The economic engine of Hiroshima, a manufacturing hub 800km southwest of Tokyo, Mazda faces US tariffs of 25% on cars, a dispiriting prospect for an electorate battling inflation and a weak economy. Japan votes on Sunday in an upper house election that looks set to weaken the grip on power of Prime Minister Shigeru Ishiba, who has failed to win a tariff reprieve from the US, its closest ally and a crucial trade partner. "I no longer have expectations of the Japanese government," said Yamaguchi, a great-grandson of Mazda founder Jujiro Matsuda. "I'm past frustration and have resigned myself to things." As people in Hiroshima and other car manufacturing regions brace for the inevitable fall-out from tariffs, Yamaguchi said he had little hope the government could turn the tide. US President Donald Trump has given no sign of relenting on his tariffs, and has even hinted at raising those against Japan. Mazda, which saw US sales fall 18.6% in May on the year and by 6.5% in June, is one of the Japanese carmakers most exposed to US tariffs. Imports bring in most of Mazda's American sales, but the importance of the wider industry for Japan is almost impossible to overstate. After Japan ceded global leadership in chips and consumer electronics, its car industry has grown to make up about 28% of the about $145bn (R2,584,231,702,000) worth of goods shipped to the US last year. There are more than 68,000 companies in Japan's car supply chain, a July survey by research firm Teikoku Data Bank showed, and the Jama industry group said they employ 5.6-million people, or about 8% of the labour force. "A supply chain is hard to rebuild once broken," said Hideki Tsuchikawa, research head at Teikoku Databank's branch in Hiroshima, which his firm estimates is home to more than 2,000 car suppliers. "Automobiles are a core national industry. Government support is essential." The tariffs could cost Mazda and other smaller Japanese carmakers US market share lost to bigger rivals, said Julie Boote, an autos analyst at Pelham Smithers Associates in London. Mazda, headquartered in Hiroshima where it has assembly plants, has so far declined to give a full-year earnings outlook, citing the uncertainty of tariffs. Mazda told Reuters its top priority was to protect suppliers, dealers and employees as it looked to overcome the tariff impact. It anticipated significant impact in the short term, the company said, adding it was taking all possible steps, such as asking for government countermeasures.
The Star
27-06-2025
- General
- The Star
Singapore-bound Biman flight makes emergency landing shortly after takeoff from Dhaka
DHAKA: A Biman Bangladesh Airlines flight bound for Singapore made an emergency landing Friday (June 27) after a technical fault was detected shortly after takeoff from Dhaka. The Boeing 737-800 aircraft, operating as flight BG 584, departed from Hazrat Shahjalal International Airport at 8:38am. Shortly after takeoff, around 21 minutes into the flight and after reaching an altitude of over 2,500 feet, the captain reported an engine-related issue and decided to return to Dhaka. According to the Hazrat Shahjalal International Airport authorities, the aircraft landed safely at 8:59am and was parked at Bay 14. All 154 passengers and seven crew members on board were safe and unharmed. Following the landing, the relevant authorities inspected the runway but found no foreign objects or bird remains, the airport authorities said. A technical review is underway, and appropriate decisions regarding the next flight operation will be made accordingly. - The Daily Star/ANN
Daily Tribune
19-05-2025
- Health
- Daily Tribune
BD16.67mln spent on outsourced staff for hospitals and health centres
Twenty companies are supplying 1,430 workers including cleaners, barbers and programmers to Bahrain's hospitals and health centres under contracts worth a combined BD16.67 million, the Ministry of Health has said. The work is spread over 24 agreements signed by government hospitals and primary care centres, covering everything from security and transport to gardening and IT support. Funding comes from Chapter Two of each entity's budget. In a reply to a question by MP Khalid Buanaq, Her Excellency Dr Jaleela bint Al Sayed, the Minister of Health, said the contracts followed the separation of healthcare bodies from the ministry as part of a wider shift to give hospitals and clinics more say in their own dayto-day operations. Each body is now able to make its own arrangements so long as it sticks to the public tender law, its executive rules and the state's financial rulebook. Hospitals signed 13 contracts with nine companies to supply 1,008 workers. The largest of these was a BD3.705 million deal for cleaning Salmaniya Medical Complex. Other sums included BD563,612 for cleaning services at Jidhafs Maternity Hospital and several health centres, BD646,937 for administrative offices, BD34,584 for the Psychiatric Hospital and BD9,900 for Muharraq Special Healthcare Centre. Transport work was covered by a BD192,000 deal for 21 drivers. Laundry duties were filled under a BD327,000 contract for 29 staff.
