Latest news with #891
Barnama
6 days ago
- Business
- Barnama
CPO Futures Likely To Trade Sideways Next Week Amid Limited Market Catalysts, Shorter Week
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to move sideways next week due to limited market catalysts and a shorter trading week. Palm oil trader David Ng said the lack of fresh trading cues will likely keep the market range-bound in the near term. 'We expect the commodity to trade between RM3,750 and RM3,950 per tonne,' he said. Cargo surveyors expect exports of Malaysian palm oil products during May 1-25 to rise between 7.3 per cent and 11.6 per cent, compared with the same period a month ago. Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said market participants will be keenly watching for May supply and demand estimates from newswire polling and the full month production data from the Malaysian Palm Oil Association, including data from the Malaysian Palm Oil Board (MPOB), due on June 10. On a Friday-to-Friday basis, the spot-month June 2025 contract rose RM64 to RM3,888 per tonne, July 2025 was RM55 higher at RM3,891 per tonne, and August 2025 added RM51 to RM3,878. The September 2025 note rose RM49 to RM3,870 per tonne, October 2025 edged up RM46 to RM3,870, and November 2025 gained RM43 to RM3,874. The weekly trading volume was down to 281,987 lots from 331,960 the previous week, while open interest narrowed to 241,994 contracts from 244,075.
Time of India
15-05-2025
- Business
- Time of India
Fruit plantation area in Maharashtra goes up; exports and govt schemes boost growth
Pune: The area under fruit plantations in Maharashtra increased by 68,541 hectares, from 13.32 lakh hectares in the 2023-24 financial year to 14 lakh hectares in 2024-25, agriculture department officials said. Mango, pomegranate, guava, lemon, custard apple, coconut and fig were among the fruits that significantly pushed the area under cultivation up, a senior official from the horticulture department said. "Domestic and international markets hold good prospects for these fruits, which offer farmers a promise of good returns. State govt implemented several schemes to promote these varities and encourage farmers to switch to fruit cultivation," he added. As per data, the highest plantations in 2024-25 were recorded in Nashik division at 5,141 hectares, followed by Amravati with 5,088 hectares and Pune with 4,287 hectares. "As many as 27,292 farmers across the state received financial assistance worth Rs9,891 lakh under the govt-sponsored Bhausaheb Fundkar Falbagh Lavgad Scheme in 2024-25," another official said. Sanjay Kachole, district agriculture officer, Pune, said many farmers had earned lakhs of rupees in profits in the last few years as they could export their produce, especially banana, pomegranate and grapes, to Gulf and European countries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 선착순! 저금리 특별지원 '최대 1억' 비대면 당일승인 상담안내! 근로자채무통합센터 더 알아보기 Undo In April, about 14 tonnes of pomegranate from Ahilyanagar district were sent to New York for the first time through commercial sea shipment. The season, which traditionally saw air freight as the primary mode of transport, shifted gears in recent weeks to embrace the cost-effective and sustainable sea freight mode. After India was granted market access by the US for pomegranate in 2023, Agricultural and Processed Food Products Export Development Authority, in collaboration with the United States department of agriculture's Animal and Plant Health Inspection Service, National Plant Protection Organisation (NPPO-India), and National Research Centre for Pomegranate, Solapur, successfully conducted the trial shipment of pomegranate to the US by sea, officials said. "These steps prove decisive for farmers as they are getting foreign markets to sell their fruits at higher rates. Therefore, the number of farmers switching to fruit plantations are rising in Maharashtra," an agriculture department official said. This year, several farmers from Solapur exported banana to Gulf countries. "Private agencies have ventured into the agriculture export business. They are tapping farmers across the state," another official said. State govt has also decided to develop dedicated agri export clusters in districts. "We have decided to set up five such clusters to promote the export of mango, grapes, pomegranate and orange," the official added. Meanwhile, farmers and activists said govt needs to pay attention to the crop insurance for fruits. "Our losses are in lakhs of rupees, but state pays in thousands because it treats fruits at par with crops such as bajara, jowar, etc. It has to be changed because the capital investment in fruit plantations is almost 10 times that of other crops and vegetables," said Jitendra Bidwai, president of Grapes Association Sangh of Junnar tehsil. Govt does not provide financial assistance immediately to those growers who lost their harvest due to natural disasters, said activist Shantaram Sarvade from Khed tehsil. "As a result, several grapes and pomegranate growers in Solapur and Sangli districts had to kill their plantations in the past. This factor also needs to be considered by the authorities concerned."
Global News
07-05-2025
- Business
- Global News
Okanagan film industry professionals navigate tariff threat
Industry professionals are hopeful the threat of tariffs from the United States won't dim the lights on the Okanagan film industry. 'I'm sure our crew are freaking out, our actors are freaking out, but, you know, I suggest they don't, because it would be really, really difficult to put a tariff on a service industry,' said Jon Summerland, Okanagan Film Commissioner. This week, U.S. President Donald Trump threatened a 100 per cent tariff on all films made outside of the United States. 'It's really important to understand these really upend the studio model,' said Crystal Braunwarth, IATSE Local 891. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'It would do a lot of damage to these American companies who produce.' The Okanagan, being part of the global market, could have a chunk taken out of business in the valley, which has become a hub for the industry. Story continues below advertisement 'One hundred per cent tariffs wouldn't necessarily hurt production but when they return to the U.S. marketplace and then they are hit with tariffs there,it could make them question where they are going to produce these films and productions in the future,' said George Greenwood, Kelowna Chamber of Commerce CEO. In fact, the movie industry brought in $100 million to the valley last year, through 43 films, and is slated to best that this year. Summerland says he isn't worried because he says the industry is protected. 'There's a trade agreement that we have with Mexico and the U.S. saying we can't tariff the film industry and that is still in place,' said Summerland. The film commissioner is referring to the Canada-United States-Mexico Agreement (CUSMA) that protects digital products to which films fall under. The Kelowna Chamber of Commerce and Okanagan Film Commission are still skeptical about whether or not the tariffs will go through. However, Summerland says it could be an opportunity to get more Canadian content on the big screen.
Yahoo
07-02-2025
- Business
- Yahoo
State Bank of India (SBKFF) Q3 2025 Earnings Call Highlights: Robust Profit Growth Amidst ...
Net Profit: INR16,891 crores, up 84% year-on-year. Whole Bank Credit Growth: 13.49% year-on-year. Domestic Credit Growth: 14.06% year-on-year. CD Ratio: 68.94%. Slippage Ratio: 0.39%. Retail Personal Slippage Ratio: 0.32%. Credit Cost: 0.24%. PCR (Provision Coverage Ratio): 74.66%. Total Deposits Growth: 9.81% year-on-year to INR52.29 trillion. Term Deposits Growth: 13.47% year-on-year. Current Account Deposits Growth: 14.22% year-on-year. CASA Growth: 4.46% year-on-year with a CASA ratio of 39.2%. Domestic Advances Growth: 14.06% year-on-year. SME Growth: Over 18%. Agriculture Growth: 15%. Corporate Growth: 15%. Retail Personal Segment Growth: 11.6%. Foreign Offices Advances Growth: 10.35% year-on-year. Net NPA Ratio: Improved by 11 basis points year-on-year to 0.53%. Capital Adequacy Ratio (CAR): 13.03% without considering clawback of profits; 14.5% including profits for nine months. CET1 Ratio: 10.99% including profits for nine months. ROA (Return on Assets): Greater than 1%. ROE (Return on Equity): Greater than 20%. Total Assets: INR66.1 lakh crores. Total Advances: INR40.68 lakh crores. Total Deposits: INR52.29 lakh crores. Warning! GuruFocus has detected 1 Warning Sign with SBKFF. Release Date: February 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. State Bank of India (SBKFF) reported a significant year-on-year net profit increase of 84% for Q3 FY25, reaching INR16,891 crores. The bank maintained a strong asset quality with a slippage ratio of 0.39% and a credit cost of 0.24%, indicating robust risk management. Domestic credit growth was strong at 14.06% year-on-year, with notable growth in SME (18%), agriculture (15%), and corporate (15%) segments. The bank's digital banking platform, YONO, saw substantial engagement, with over 8.5 crore customers registered and 64% of regular savings accounts opened through it in Q3 FY25. State Bank of India (SBKFF) achieved a healthy capital adequacy ratio of 13.03%, which would increase to 14.5% when including profits for nine months, indicating a strong capital position. Operating profit decreased significantly from INR29,294 crore in the previous quarter to INR23,551 crore, primarily due to trading losses and Forex losses. The bank's margins dropped by 13 basis points sequentially, driven by increased cost of deposits and lower treasury gains. There was a slowdown in the growth of express credit, with GNPAs in this segment increasing from 0.77% in March '24 to 1.11% as of Q3 FY25. The SMA-2 numbers increased substantially to INR7,424 crores from INR1,840 crores, although this was attributed to one major account that has since been regularized. The bank's cost of resources increased, impacting margins, and there is a concern about maintaining deposit growth without engaging in a rate war. Q: The operating profit has decreased significantly from INR29,294 crore to INR23,551 crore due to trading losses and Forex loss. What are the plans to recover this in the next quarter? A: Challa Setty, Managing Director, explained that the decrease was due to MTM losses and increased cost of resources. The bank is focusing on increasing high-quality savings accounts and expects to maintain the credit growth guidance of 14%-16% and deposit growth of 10%. Q: With the recent budget changes increasing MSME limits, do you see growth opportunities in this sector? A: Vinay Tonse, Managing Director, noted that the changes will benefit the bank as some mid-corporates will now qualify as MSMEs, potentially increasing priority sector lending benefits. The bank has revamped its SME funding process to improve turnaround times. Q: Margins have dropped by 13 basis points sequentially. What is causing this, and where do you see the cost of deposits stabilizing? A: Challa Setty stated that the yield on advances has been maintained, but the cost of resources, particularly deposits, has increased. The bank aims to keep NIM above 3% and is focusing on qualitative advances growth. Q: There is a slowdown in express credit growth. Is this due to overleveraging concerns? A: Challa Setty clarified that the slowdown is due to a shift to digital lending processes and a general softening in unsecured credit. The bank expects express credit growth to return to double digits soon. Q: What is the bank's approach towards AI and digital transformation? A: Challa Setty highlighted that SBI is focusing on enterprise-level AI with use cases in personalization, staff learning, and risk management. The bank has launched "Ask SBI" for staff to improve customer service and is working on a broader AI roadmap. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Times of Oman
06-02-2025
- Business
- Times of Oman
SBI reports 84% jump in net profit, strong credit growth and improved asset quality
New Delhi: The State Bank of India (SBI) has reported a significant 84.32 per cent year-on-year (YoY) growth in net profit, reaching Rs16,891 crore in Q3FY25. This strong performance was driven by higher operating profit and improved asset quality. According to SBI, the operating profit for the quarter stood at Rs23,551 crore, marking a 15.81 per cent YoY increase. Additionally, the Net Interest Income (NII) grew by 4.09 per cent YoY to Rs41,446 crore, while the Return on Assets (ROA) improved to 1.04 per cent, rising 42 basis points (bps) YoY. The bank's Net Interest Margin (NIM) for the domestic business stood at 3.15 per cent in Q3FY25. The bank also witnessed robust credit growth, with total advances crossing Rs40 lakh crore. Credit growth stood at 13.49 per cent YoY, with domestic advances growing by 14.06 per cent YoY, while foreign office advances increased by 10.35 per cent YoY. Segment-wise, SME lending surged by 18.71 per cent YoY, followed by agriculture loans at 15.31 per cent YoY. Corporate advances rose 14.86 per cent YoY, while retail personal advances registered a growth of 11.65 per cent YoY. On the deposit front, the total deposits grew by 9.81 per cent YoY, with the Current Account Savings Account (CASA) ratio at 39.20 per cent as of December 31, 2024. The bank has also demonstrated improved asset quality, with the Gross NPA ratio reducing to 2.07 per cent, an improvement of 35 bps YoY. The Net NPA ratio improved by 11 bps YoY to 0.53 per cent, indicating better risk management and recoveries. The Provision Coverage Ratio (PCR) rose to 74.66 per cent, marking an improvement of 49 bps YoY. Moreover, the slippage ratio for Q3FY25 improved by 19 bps YoY to 0.39 per cent, further strengthening the bank's financial stability. On the capital front, the Capital Adequacy Ratio (CAR) stood at 13.03 per cent at the end of Q3FY25, ensuring a strong capital position. The bank continues to expand its digital presence, with 64 per cent of new savings accounts opened digitally through YONO. Additionally, the share of transactions through alternate banking channels increased to 98.1 per cent in 9MFY25, compared to 97.7 per cent in 9MFY24. Overall, the bank's strong profitability, improved asset quality, and growing digital banking presence reflect its resilient growth trajectory.
