Latest news with #ACE
Miami Herald
16 hours ago
- Politics
- Miami Herald
Pubic highway becomes runway so fighter jets can practice landing
NATO Allies also conducted highway operating exercises in Sweden, showcasing Agile Combat Employment (ACE) tactics that enhance operational flexibility and resilience in contested environments. "ACE is a key capability, which we would employ to defend Europe in any Article 5 confrontation," Air Marshal Johnny Stringer, Deputy Commander of NATO Allied Air Command, emphasised on the importance of ACE in modern warfare. "ACE brings together Air Forces from across the Alliance and has them operate from many different air bases, ensuring the credibility and capabilities that underpin our deterrence posture." An Article 5 confrontation is a situation where an armed attack against one NATO member is treated as an attack against all members, obligating the entire alliance to respond collectively in defense. NATO added: "The Finnish and Swedish exercises in May demonstrate NATO's collective ability to adapt and respond quickly to emerging threats." The post Pubic highway becomes runway so fighter jets can practice landing appeared first on Talker. Copyright Talker News. All Rights Reserved.
Argaam
3 days ago
- Business
- Argaam
alrajhi bank recognized for SAR 44 million contribution to Autism Center of Excellence
Under the patronage of His Excellency the Governor of the Saudi Central Bank, Mr. Ayman Alsayari, the Autism Center of Excellence (ACE) honored alrajhi bank —represented by Chairman Mr. Abdullah bin Sulaiman Al Rajhi—for its SAR 44 million contribution to the establishment and operation of the center over a five-year period. This recognition reflects the bank's unwavering commitment to social responsibility and inclusive development. The award was presented during a ceremony held on Wednesday, May 28, celebrating the completion of the ACE project. Speaking on the occasion, Mr. Abdullah Al Rajhi said, 'Our support for the Autism Center of Excellence stems from a deep belief in the vital role of the private sector in community engagement. We are proud to work alongside all relevant stakeholders and contribute to our wise leadership's efforts to deliver world-class care for individuals with autism spectrum disorder across the Kingdom.' He also extended his gratitude to the Ministry of Human Resources and Social Development and the Saudi Central Bank for championing the initiative to establish the Autism Center of Excellence, adding, 'With praise to Allah and the dedicated efforts of the ACE team, the Kingdom is now home to one of the largest and most advanced autism centers in the Middle East—positively impacting over 500,000 individuals with autism in Saudi Arabia.' Mr. Al Rajhi further acknowledged the center's team for their exceptional work in supporting individuals with autism and their families through specialized services including rehabilitation, research, professional training, family assistance, and vocational programs. He emphasized that ACE has become a national benchmark for autism care and service excellence. Established in 2019 under the sponsorship of the Ministry of Human Resources and Social Development and Saudi banks through the Saudi Central Bank, the Autism Center of Excellence serves individuals with autism and related developmental disorders. The center is dedicated to enhancing quality of life and elevating the standards of rehabilitation care across the Kingdom. alrajhi bank's support of ACE is part of its broader commitment to sustainable development and social impact. The bank has championed various healthcare initiatives, including the establishment of alrajhi medical centers, funding 91 kidney transplants, and contributing to the "Nation of Giving" campaign during the COVID-19 pandemic. In education, the bank launched the "Orphan Education Sponsorship Program," covering tuition fees for 200 students annually. It also contributed SAR 80 million to the King Saud University Endowment and SAR 20 million to the King Fahd University of Petroleum and Minerals Endowment. In the housing sector, alrajhi bank partnered with the Developmental Housing Program to build 222 homes for families in need. In recognition of these impactful efforts, alrajhi bank received first place in the 'Gold Category for Social Responsibility Practices' awarded by the Ministry of Human Resources and Social Development.
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
ACE Posts Highest-ever Sales and Profits – Total Income up by 14.6% YoY with Expanded Margins
Action Construction Equipment Limited (ACE), India's leading material handling and construction equipment manufacturer and market leader in the Mobile Cranes & Tower Cranes segment, has reported over 20 per cent growth in consolidated net profit to Rs. 118.56 crores in the Q4 FY25 compared to Rs 98.45 crores in Q4 FY24. Mr. Sorab Agarwal, Executive Director, ACE The company reported a 15% increase in revenue from operations, which rose to Rs. 960.99 crore in the Q4 FY25, up from Rs.835.84 crores in the same period last year. For FY25, net profit grew by approximately 25%, reaching Rs. 409.24 crores compared to Rs. 328.20 crores in FY24. Annual revenue from operations also saw an improvement, rising to Rs. 3,427.37 crores from Rs. 2,990.90 crores in the previous financial year. Additionally, the company's board has recommended a dividend of Rs. 2 per equity share with a face value of Rs. 2 each for FY25. Commenting on ACE's FY25 performance, Mr. Sorab Agarwal, Executive Director at ACE said, 'India continues to stand out as the fastest-growing major economy. Despite prevailing global uncertainties, the country's GDP is projected to grow at a steady pace of around 6.5%. This momentum is underpinned by strong macroeconomic fundamentals – including easing inflation and a supportive monetary stance by the Reserve Bank of India. Resilient domestic consumption, alongside the government's sustained emphasis on capital expenditure, remains a key driver of economic growth. However, external risks persist in the form of rising trade barriers, disrupted global supply chains, and ongoing geopolitical tensions. India is now positioned as the world's fourth-largest economy & we are confident in the country's ability to emerge as a global sourcing hub for goods and services. Our robust industrial capabilities, skilled workforce, and rapidly advancing infrastructure place us in a strong position to cater to global demand with both efficiency and excellence.' With its consistent efforts, ACE has strengthened its role as a market leader in the Indian Crane industry. Its Cranes, Material Handling and Construction Equipment segment has crossed over Rs. 3,090 crores in the fiscal year and registered a growth of 15.55% on a standalone basis. The growth was both in value and volume terms. The numbers for cranes, material handling and construction equipment have increased by 14.75% from 11,643 in FY24 to 13,360 in FY25. In this segment, ACE has been able to grow its profits by 35.36% to Rs 564 crores with a margin expansion of 18.26% v/s 15.58% for the last year. The Agri division registered revenue of around Rs. 230 crores with the margins at 3.73%. Further, in the quarter gone by, ACE was awarded its single largest order till date to deliver 1,121 Rough Terrain Fork Lift Trucks (Telehandlers) with attachments and accompanied accessories at a total value of Rs. 420 Crores to the Indian armed forces. This order marked a pivotal step towards modernizing India's Defence infrastructure and empowering indigenous manufacturing. ACE's relentless innovation and commitment towards developing new products empower the company to deliver specialized equipment under the government's 'AtmaNirbhar Bharat' and 'Make in India' initiatives.
Biz Bahrain
4 days ago
- Business
- Biz Bahrain
Al-Futtaim ACE expands regionally, proudly launching its first store in Bahrain
Al-Futtaim ACE, the premier outdoor, garden, DIY & home living retailer in the GCC, marks a significant milestone in its regional expansion strategy with the grand opening of its first store in the Kingdom of Bahrain. Conveniently located in City Centre Bahrain, this new Home Living destination brings ACE's solution-focused approach to home living, offering Bahraini citizens and residents everything they need for their homes and outdoor spaces. Customers will discover an extensive collection of premium brands & products across Outdoor Living, DIY & Tools, Homeware, and Appliances – all curated to transform living spaces while solving everyday home challenges. Mr. Vinod Jayan, Managing Director, Al-Futtaim, states: 'We are delighted to introduce the signature Helpful ACE experience to Bahrain's discerning homeowners and DIY enthusiasts. Our entrance into the Bahraini market reflects our commitment to becoming the region's most trusted home living brand.' A One-Stop Destination for Every Home Need The new ACE Bahrain store is designed to be the definitive one-stop shopping destination for all home-related requirements. Gardening enthusiasts will find everything from live plants to specialized potting soils and advanced watering solutions. Outdoor living spaces can be transformed with ACE's extensive range of outdoor furniture, premium BBQs from global leaders like Weber and Broil King, and innovative gazebos made for the Gulf climate. For home improvement projects, customers will discover a comprehensive selection of professional-grade tools from trusted brands like Bosch and Stanley, alongside quality paints with complimentary in-store mixing services that ensure the perfect custom shade for any project. Orders are fulfilled across all areas of Bahrain, with complimentary delivery and assembly on purchases exceeding BD 249.900, reinforcing ACE's commitment to exceptional service at every customer touchpoint. Appliances from Leading Global Brands ACE features an impressive appliance selection that addresses every modern household requirement. The floor care section showcases premium offerings from Dyson, Karcher, Bissell, and Hitachi, while the kitchen range presents innovations from Philips, Black+Decker, Nutricook and Delonghi. For major home appliances, customers can explore trusted solutions from global leaders including Samsung, Midea, Hitachi, Whirlpool – all selected to enhance home efficiency and comfort. Expert Guidance for Informed Decisions What truly distinguishes ACE is its team of knowledgeable staff who provide personalized assistance tailored to each customer's specific requirements. 'We understand that creating the perfect home environment involves more than just quality products – it requires expertise and guidance,' adds Mr. Ganeshan Raman, Head of Commercial at ACE. 'Our helpful and knowledgeable team is here to offer practical solutions & product recommendations, turning your home improvement challenges into successful projects.' Opening its doors on 26th May 2025, ACE Bahrain invites residents to discover how the right guidance, quality products, and innovative solutions can transform any space into the home of their dreams.
The Sun
5 days ago
- Business
- The Sun
WTEC Group targets operational efficiency, long-term growth post IPO
KUALA LUMPUR: Manufacturer of foam and non-foam products, WTEC Group Bhd reported a revenue of RM11.2 million for the first quarter (Q1) ended March 31, 2025 (FY25), with its core manufacturing segment contributing approximately 89.7% and trading activities accounting for the remaining 10.3%. The company achieved a gross profit (GP) of RM3.6 million, translating into a stable GP margin of approximately 32.5%. There are no comparative figures for the preceding corresponding quarter and period, as this is the company's first interim financial report, which is being announced in compliance with Bursa Malaysia's ACE Market Listing Requirements. WTEC Group's profit before tax (PBT) was RM1.5 million, while profit after tax (PAT) was RM1.1 million, translating to a PBT margin of approximately 13.5% and a PAT margin of approximately 10.2%. On an adjusted basis, after excluding one-off listing expenses of RM0.2 million, WTEC Group's adjusted PBT and PAT amounted to RM1.7 million and RM1.3 million, respectively. This represents an adjusted PBT margin of approximately 14.8% and an adjusted PAT margin of approximately 11.5%. Group managing director Tan Kok Kheng said following the recent listing, the company is committed to strengthening its position in the manufacturing sector by enhancing both its manufacturing capacity and operational efficiency. 'The continued expansion of Malaysia's automotive, electrical, and electronics industries provides a supportive backdrop for demand in our foam and non-woven fabric products. 'To capitalise on this growth, we are investing in a new ready-built manufacturing facility that will consolidate multiple facilities to improve efficiency, streamline production, and provide the space needed to install new machinery and equipment we plan to purchase. 'The new facility is targeted to commence operations in the second quarter of 2026. 'At the same time, we acknowledge the global trade uncertainties stemming from the recent imposition of reciprocal tariffs by major economies. 'However, our exposure remains limited. Most of our revenue is derived from the Malaysian market, while most international orders are not destined for the US market. 'This domestic-centric revenue base provides insulation against global tariff impacts and supports our continued pursuit of stable, long-term growth,' Tan said. To recap, WTEC Group was listed on the ACE Market of Bursa Malaysia on April 29, 2025 and had successfully raised RM22.5 million through its initial public offering exercise. WTEC Group was listed on the ACE Market of Bursa Malaysia on April 29, 2025 and had successfully raised RM22.5 million through its initial public offering exercise.
