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India Today
18-05-2025
- Business
- India Today
India blocks land route for several Bangladeshi goods, hits textile trade
In a tit-for-tat move, India has banned imports of several items from Bangladesh via land routes, dealing a severe blow to Dhaka, which already has a massive trade deficit with Delhi amounting to USD 9.2 billion for the fiscal year ending March per a notification sent by the Commerce Ministry, dated May 17, imports from Bangladesh will only be allowed through Mumbai's Nhava Sheva and Kolkata's items like fruits, fruit-flavoured and carbonated drinks, processed food items, wooden furniture, plastic, dyes, cotton and cotton yarn waste, among others, have been included in the list. Imports of these products through the land customs check posts in Assam, Meghalaya, Tripura, Mizoram and Changrabandha and Fulbari in West Bengal have now been fish, edible oil, LPG and crushed stones have been exempted from the latest move will make Bangladeshi goods even more expensive, acting as a disincentive for Indian -- a major exporter of textiles and readymade garments - will now be unable to send these goods via land routes, severely impairing Dhaka's export month, the Narendra Modi government pulled the plug on the transshipment facility that had allowed Bangladesh's export cargo to flow smoothly to other countries like Bhutan, Nepal and later, Bangladesh stopped its import of yarn -- which forms 30 per cent of Delhi's textile exports to Dhaka -- through Benapole, Bhomra, Sonamasjid, Banglabandha and Burimari land Bangladesh's Chief Adviser Muhammad Yunus called for "an integrated economic plan for Bangladesh, Nepal, Bhutan, and the Seven Sisters" last week. This proposal came two months after Yunus urged China to extend its economic footprint not only to Bangladesh but also to India's seven northeastern states.
Yahoo
15-05-2025
- Business
- Yahoo
MDxHealth SA (MDXH) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and Operational ...
Revenue Growth: 22% increase to $24.3 million for Q1 2025 compared to $19.8 million in Q1 2024. Gross Profit: $15.5 million, a 29% increase from $12.1 million in Q1 2024. Gross Margin: 63.8%, up from 60.8% in Q1 2024. Operating Loss: Decreased 31% to $4.6 million from $6.6 million in Q1 2024. Net Loss: Increased 8% to $9.2 million, primarily due to non-cash fair value adjustments. Adjusted EBITDA: Negative $1.3 million, a 71% improvement from negative $4.5 million in Q1 2024. Cash and Cash Equivalents: $65.7 million as of March 31, 2025, with a pro forma balance of $37.7 million after a $28 million earnout payment. Tissue-Based Test Volume: 41% increase to approximately 12,600 tests. Liquid-Based Test Volume: 9% increase to almost 12,000 tests. Total Billable Volume: Approximately 24,000 tests, a 24% increase. Warning! GuruFocus has detected 5 Warning Signs with MDXH. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MDxHealth SA (NASDAQ:MDXH) achieved a 22% revenue growth in Q1 2025, marking the 16th consecutive quarter of 20% or greater revenue growth. The company reported a significant increase in tissue-based test volumes, with a 41% growth over the prior year period. Gross profit for the quarter increased by 29%, with gross margins improving to 63.8% from 60.8% in Q1 2024. MDxHealth SA (NASDAQ:MDXH) has not expanded its sales organization, yet continues to achieve growth, indicating strong leverage from its existing sales channels. The company is on track to achieve positive adjusted EBITDA in Q2 2025, reflecting strong financial management and operational efficiency. Net loss increased by 8% to $9.2 million, primarily due to non-cash fair value adjustments. Operating expenses grew by 8%, driven by increased clinical studies, stock-based compensation, and scale. The liquid-based test segment showed a lower growth rate of 9% compared to the tissue-based segment. Cash and cash equivalents were reduced to $37.7 million after a $28 million earnout payment to Exact Sciences. The company faces inherent risks and uncertainties, as highlighted in their forward-looking statements and SEC filings. Q: What factors are driving the growth in the tissue-based segment of MDxHealth's menu? A: Michael McGarrity, CEO, explained that the diagnostic value of their ConfirmMDx test is increasingly appreciated by urology customers. The test addresses limitations of needle biopsies by interrogating each core of the biopsy, offering a 96% negative predictive value. This helps avoid unnecessary repeat biopsies and detects missed cancers, providing significant value from both healthcare economics and patient care perspectives. Q: How is MDxHealth gaining market share with the GPS test? A: Michael McGarrity, CEO, stated that the company is converting the market and taking competitive share by leveraging their strong sales channel and the unique features of the GPS test. The test requires significantly less tumor tissue than competitors, offering a higher valid result rate, which is compelling to urologists and pathologists. Q: What impact did weather and fewer sales days have on MDxHealth's Q1 performance? A: Michael McGarrity, CEO, noted that while weather and fewer sales days can impact performance, the company did not see these factors significantly affecting their Q1 results. They expect continued execution and growth in Q2 without providing specific guidance. Q: How is MDxHealth approaching potential M&A opportunities? A: Michael McGarrity, CEO, mentioned that while they are open to growth opportunities, they are disciplined in their approach. They are considering both transformative M&A and channel growth opportunities, ensuring any potential acquisition is de-risked, particularly in terms of regulatory and reimbursement dynamics. Q: What is the outlook for MDxHealth's operating expenses and revenue growth? A: Ron Kalfus, CFO, stated that operating expenses are expected to remain flat, with revenue growth driving improved adjusted EBITDA. The company is confident in sustaining 20% revenue growth, with much of the growth in revenue dollars expected to drop through to EBITDA dollars. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hindu
14-05-2025
- Business
- The Hindu
Colombia joins Belt and Road initiative as China courts Latin America
Colombia formally agreed on Wednesday (May 14, 2025) to join China's vast Belt and Road infrastructure initiative, as Beijing draws Latin America closer in a bid to counter the United States. Latin America has emerged as a key battleground in U.S. President Donald Trump's confrontations with China, and the region is coming under pressure from Washington to choose a side. China has surpassed the United States as the biggest trading partner of Brazil, Peru, Chile and other Latin American nations, and two-thirds of countries there have signed up to Chinese leader Xi Jinping's Belt and Road infrastructure drive. On the sidelines of a major gathering of regional leaders in Beijing on Wednesday, Colombia became the latest country to join the massive global initiative. Colombia's Foreign Ministry hailed the agreement as a "historic step that opens up new opportunities for investment, technological cooperation, and sustainable development for both countries". And after a meeting with Colombian President Gustavo Petro, Mr. Xi urged the countries to take the opportunity of Colombia formally joining the "Belt and Road Initiative family" to enhance their cooperation, Beijing's state media said. Posting a video of the signing to social media platform X, Mr. Petro wrote that "the history of our foreign relations is changing". "From now on, Colombia will interact with the entire world on a footing of equality and freedom," he wrote. The BRI is a central pillar of Xi's bid to expand China's economic and political clout overseas. For more than a decade, it has provided investment for infrastructure and other large-scale projects around the world, offering Beijing political and economic leverage in return. Last year, Mr. Xi inaugurated Latin America's first Beijing-funded port in Chancay, Peru — a symbol of the Asian superpower's growing influence on the continent. 'Defenders of free trade' This week's China-CELAC Forum in Beijing has seen China cast itself as the defender of the multilateral order and the backer of the Global South, with Xi pledging on Monday $9.2 billion in credit towards development. That pledge was part of a broad set of initiatives aimed at deepening cooperation, including on infrastructure and clean energy. Beijing will also cooperate in counterterrorism and fighting transnational organised crime, Xi said, as well as enhancing exchanges such as scholarships and training programmes. During a meeting with Chilean President Gabriel Boric on Wednesday, Xi said that the "resurgence of unilateralism and protectionism is severely impacting the international economic and trade order", according to Chinese state news agency Xinhua. "As staunch defenders of multilateralism and free trade, China and Chile should strengthen multilateral coordination and jointly safeguard the common interests of the Global South," Xi told Boric. Also in attendance at the China-CELAC forum was Brazilian President Luiz Inacio Lula da Silva, who arrived in Beijing on Saturday for a five-day state visit. Addressing delegates, Lula said his region did not "want to repeat history and start a new Cold War", adding: "Our goal is to be an asset to the multilateral order for a global good". In talks with Lula on Tuesday, Xi said the two countries should "strengthen cooperation" and together "oppose unilateralism", according to Chinese state media. The United States and China have faced off in Latin America, including over the Panama Canal, which Trump has for months vowed to reclaim from alleged Chinese influence. Washington considered a Hong Kong company's operation of ports at both ends of the interoceanic waterway to be a threat to its national security, but Beijing has dismissed the claims. And China's market regulator is looking into a deal by Hong Kong conglomerate CK Hutchison to offload 43 ports in 23 countries -- including its two on the Panama Canal -- to a US-led consortium. The world's two largest economies are two of the top users of the canal, through which five percent of all global shipping passes.
Straits Times
14-05-2025
- Business
- Straits Times
Colombia joins Belt and Road initiative as China courts Latin America
Chinese President Xi Jinping (right) meets with Colombian President Gustavo Petro at the Great Hall of the People in Beijing, on May 14. PHOTO: EPA-EFE BEIJING - Colombia formally agreed on May 14 to join China's vast Belt and Road infrastructure initiative, as Beijing draws Latin America closer in a bid to counter the United States. Latin America has emerged as a key battleground in US President Donald Trump's confrontations with China, and the region is coming under pressure from Washington to choose a side. China has surpassed the United States as the biggest trading partner of Brazil, Peru, Chile and other Latin American nations, and two-thirds of countries there have signed up to Chinese leader Xi Jinping's Belt and Road infrastructure drive. On the sidelines of a major gathering of regional leaders in Beijing on May 14, Colombia became the latest country to join the massive global initiative. Colombia's foreign ministry hailed the agreement as a 'historic step that opens up new opportunities for investment, technological cooperation, and sustainable development for both countries'. And after a meeting with Colombian President Gustavo Petro, Mr Xi urged the countries to take the opportunity of Colombia formally joining the 'Belt and Road Initiative family' to enhance their cooperation, Beijing's state media said. Posting a video of the signing to social media platform X, Mr Petro wrote that 'the history of our foreign relations is changing'. 'From now on, Colombia will interact with the entire world on a footing of equality and freedom,' he wrote. The BRI is a central pillar of Mr Xi's bid to expand China's economic and political clout overseas. For more than a decade, it has provided investment for infrastructure and other large-scale projects around the world, offering Beijing political and economic leverage in return. Mr Xi inaugurated Latin America's first Beijing-funded port in Chancay, Peru in 2024 – a symbol of the Asian superpower's growing influence on the continent. 'Defenders of free trade' This week's China-Celac Forum in Beijing has seen China cast itself as the defender of the multilateral order and the backer of the Global South, with Mr Xi on May 12 pledging US$9.2 billion (S$11.95 billion) in credit towards development. That pledge was part of a broad set of initiatives aimed at deepening cooperation, including on infrastructure and clean energy. Beijing will also cooperate in counterterrorism and fighting transnational organised crime, Mr Xi said, as well as enhancing exchanges such as scholarships and training programmes. During a meeting with Chilean President Gabriel Boric on May 14, Mr Xi said that the 'resurgence of unilateralism and protectionism is severely impacting the international economic and trade order', according to Chinese state news agency Xinhua. 'As staunch defenders of multilateralism and free trade, China and Chile should strengthen multilateral coordination and jointly safeguard the common interests of the Global South,' Mr Xi told Mr Boric. Also in attendance at the China-Celac forum was Brazilian President Luiz Inacio Lula da Silva, who arrived in Beijing on May 10 for a five-day state visit. Addressing delegates, Mr Lula said his region did not 'want to repeat history and start a new Cold War', adding: 'Our goal is to be an asset to the multilateral order for a global good'. In talks with Mr Lula on May 13, Mr Xi said the two countries should 'strengthen cooperation' and together 'oppose unilateralism', according to Chinese state media. The United States and China have faced off in Latin America, including over the Panama Canal, which Mr Trump has for months vowed to reclaim from alleged Chinese influence. Washington considered a Hong Kong company's operation of ports at both ends of the interoceanic waterway to be a threat to its national security, but Beijing has dismissed the claims. And China's market regulator is looking into a deal by Hong Kong conglomerate CK Hutchison to offload 43 ports in 23 countries – including its two on the Panama Canal – to a US-led consortium. The world's two largest economies are two of the top users of the canal, through which five percent of all global shipping passes. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
14-05-2025
- Business
- Yahoo
Colombia joins Belt and Road initiative as China courts Latin America
Colombia formally agreed on Wednesday to join China's vast Belt and Road infrastructure initiative, as Beijing draws Latin America closer in a bid to counter the United States. Latin America has emerged as a key battleground in US President Donald Trump's confrontations with China, and the region is coming under pressure from Washington to choose a side. China has surpassed the United States as the biggest trading partner of Brazil, Peru, Chile and other Latin American nations, and two-thirds of countries there have signed up to Chinese leader Xi Jinping's Belt and Road infrastructure drive. On the sidelines of a major gathering of regional leaders in Beijing on Wednesday, Colombia became the latest country to join the vast, global initiative. Colombia's foreign ministry hailed the agreement as a "historic step that opens up new opportunities for investment, technological cooperation, and sustainable development for both countries". And after a meeting with Colombian President Gustavo Petro, Xi urged the countries to "take the opportunity of Colombia's formal joining the high-quality Belt and Road Initiative family to promote the quality upgrading of cooperation," Beijing's state media said. And after a meeting with Colombian President Gustavo Petro, Xi urged the countries to take the opportunity of Colombia joining the "high-quality Belt and Road Initiative family to promote the quality upgrading of cooperation", Beijing's state media said. Posting a video of the signing to social media platform X, Petro wrote that "the history of our foreign relations is changing". "From now on, Colombia will interact with the entire world on a footing of equality and freedom," he wrote. The BRI is a central pillar of Xi's bid to expand China's economic and political clout overseas. For more than a decade, it has provided investment for infrastructure and other large-scale projects around the world, offering Beijing political and economic leverage in return. Last year, Xi inaugurated Latin America's first Beijing-funded port in Chancay, Peru -- a symbol of the Asian superpower's growing influence on the continent. This week's China-CELAC Forum in Beijing has seen China cast itself as the defender of the multilateral order and the backer of the Global South, with Xi pledging on Monday $9.2 billion in credit towards development. That pledge was part of a broad set of initiatives aimed at deepening cooperation, including on infrastructure and clean energy. Beijing will also cooperate in counterterrorism and fighting transnational organised crime, Xi said, as well as enhancing exchanges such as scholarships and training programmes. pfc/oho/sco
