Latest news with #BoP
Yahoo
03-08-2025
- Automotive
- Yahoo
Acura Can Catch Porsche in IMSA WeatherTech Manufacturer's Chase
Now that the others have won, look for a return to a less draconian BoP for the Ferrari 499P in the WEC and Porsche in IMSA. It remains to be seen if IMSA officials have in fact balanced the performance. Hopefully, there will be a straight fight for the manufacturer title between Porsche and Acura, which trails by 90 points. After two straight victories by the Acura MSR team in the WeatherTech Championship, the interregnum is over for the Porsche Penske Motorsport team. Having been hobbled by the Balance of Performance (BoP), the Porsche team will have a chance to stand atop the podium again on Sunday after the sprint race at Road America. Urs Keratle, the director for Porsche's 963 program, said that simulations have shown the team will 'be able to compete with the others. The reality we will see in qualifying and the race.' The subtraction of weight (nine kilograms) and a 5.2% increase in Stage 2 power for the Porsches in the BoP prior to Road America reflects the current sports car racing season's pattern in both the World Endurance Championship and IMSA. The best performing cars and their teams have been heavily penalized midway in the season by BoP to open the door to other manufacturers. Now that the others have won, look for a return to a less draconian BoP for the Ferrari 499P in the WEC and Porsche in IMSA. Cadillac and its Jota team won its first WEC race in Round 5 in Brazil, where officials made it very unlikely for the Ferraris, winners of four straight races, to compete for victory. IMSA WeatherTech SportsCar Championship Porsche 2,182 Acura 2,092 Cadillac 1,974 BMW 1,962 Aston Martin 1,439 In IMSA, each of the two Acuras entered by Jim Meyers and Michael Shank won in Detroit and Watkins Glen in part because of the BoP hampering the Porsches. Cadillac scored three podiums in those two events. Keratle suggested Porsche Penske was unable to control its own destiny. 'We are prepared to be competitive in the races if it's very well in our hands,' he said. Who stands atop the podium at Wisconsin's picturesque Elkhart Lake circuit and then celebrates at the Siebkens resort will have a significant impact on the driver and manufacturer championships for the IMSA GTP season, which has two endurance races remaining after the Motul SportsCar Grand Prix. It remains to be seen if IMSA officials have in fact balanced the performance and a straight fight for the manufacturer title will evolve between Porsche and Acura, which trails by 90 points. On the driver side, the four straight victories by Porsche Penske to open the season put its drivers in an almost unassailable position. Matt Campbell and Mathieu Jaminet, drivers of the No. 6 Porsche 963, lead teammates Nick Tandy and Felipe Nasr by 12 points after the latter two's poor result at the Glen. Acura MSR drivers Renger van der Zande and Nick Yelloly, winners in Detroit, trail the Porsche drivers by 262 points in third place. There's more to come in the manufacturers' contest after the Glen victory, said David Salters, president of Honda Racing Corporation USA. The combination of the Meyers-Shank team and engineers from the HRC factory is beginning to pay dividends. Along with driver Tom Blomqvist, they successfully executed a challenging fuel strategy to grab the victory at the Glen from the Cadillac of Action Express Racing before celebrating at the Seneca Lodge. 'We are six races into the season and we're starting to show what we're made of,' said Salters. 'It was a great weekend, but we must keep pushing.' The Acura MSR squad gained 112 points in the factory title chase with its victories. The team likely needs to win at least two of the three remaining races to overcome the 90-point gap to Porsche Penske. Where Porsche Penske has no team orders, Acura MSR can employ split strategies and concentrate on just getting one car into Victory Lane. Blomqvist, who co-drove with Colin Braun on board the No. 60 ARX-06 at the Glen, is reconciled to his team now concentrating on the manufacturers title. 'We still stand a chance in the manufacturers, which is definitely a big goal of Acura's,' said Blomqvist. 'So, we haven't given up there, having won the last two events. Obviously, only one of the team's cars gets points for that. I think ultimately that's probably what we're going to focus on more than the drivers' title. Let's see.'
Al-Ahram Weekly
23-07-2025
- Business
- Al-Ahram Weekly
FACTBOX: Egypt's current account deficit narrows by 22.6% in 9 months of FY24/25 per BoP data - Economy
Egypt's current account deficit narrowed by 22.6 percent year-on-year during the first nine months (July 2024–March 2025 ) of FY2024/2025, which ended at end of June, reaching $13.2 billion, down from $17.1 billion in the same period last fiscal year, the Central Bank of Egypt (CBE) announced on Tuesday. According to the balance of payments (BoP) data, this improvement was primarily driven by a stronger performance in the third quarter of 2025 (January–March). Despite the positive momentum, BoP recorded an overall deficit of $1.9 billion during the same period, reversing a surplus of $4.1 billion posted a year earlier. The shift was mainly attributed to a significant decline in capital and financial account inflows, which fell to $7.7 billion from a record high of $20 billion. The previous figure had been boosted by the one-off $15 billion Ras El-Hekma deal. Egypt is engaged in $8 billion loan deal with the International Monetary Fund (IMF). An IMF mission is expected to visit Egypt in September for the discussions on the fifth and sixth reviews of the deal, with projections that both reviews will be completed in December. The First review of the newly approved Resilience and Sustainability Facility (RSF) is also scheduled to be completed with these two reviews. The completion of the whole three reviews is anticipated to refresh Egypt's treasury with a total of over $2.6 billion. Key positive contributors to the current account's improvement Remittances from Egyptians working abroad surged by 82.7 percent to $26.4 billion, up from $14.5 billion, providing significant support to the current account. Meanwhile, the investment income deficit narrowed by 13.4 percent to $12.2 billion, bolstered by a 74 percent rise in investment income receipts to $1.9 billion and a 6.9 percent decline in investment income payments to $14.1 billion. Moreover, tourism revenues rose by 15.4 percent to $12.5 billion, up from $10.9 billion in the previous year, supported by a rise in tourist nights to 134.3 million from 116.4 million. Challenges limiting further improvement Regarding the BoP deficit, the data showed that the oil trade deficit more than doubled to $10.3 billion, up from $5.1 billion, primarily due to a surge in oil imports. Oil imports climbed to $14.5 billion from $9.7 billion, driven by higher imports of natural gas, oil products, and crude oil. Meanwhile, oil exports fell to $4.2 billion, primarily due to a decrease in crude oil and gas shipments, although an increase in oil product exports partially offset the decline. The non-oil trade deficit also widened to $28 billion, up from $23.7 billion in the previous period. Imports of non-oil goods increased by $10.3 billion to $53.6 billion, led by key commodities such as wheat, soybeans, maize, car and tractor parts, and raw tobacco. In comparison, non-oil exports increased by $6.1 billion to $25.6 billion, driven by growth in shipments of gold, ready-made garments, fruits, aluminium products, and electrical cables. Furthermore, the data showed that Suez Canal revenues dropped sharply by 54.1 percent to just $2.6 billion, compared to $5.8 billion the previous year. This was attributed to disruptions in maritime navigation in the Red Sea, leading to a 61.9 percent decline in net tonnage and a 44.8 percent drop in the number of transiting vessels. Capital and financial account: Cooling inflows The capital and financial account registered net inflows of $7.7 billion, a steep drop from $20 billion the previous year. Foreign direct investment (FDI) stood at $9.8 billion, down from $23.7 billion, which had included the $35 billion Ras El-Hekma deal. FDI in Egypt's oil sector returned to positive territory with a net inflow of $669.6 million, reversing a $175.6 million outflow last year. This came as inflows to the sector reached $5.0 billion, while outflows dropped to $4.3 billion due to lower cost-recovery payments to foreign partners. FDI inflows to the non-oil sector amounted to $9.1 billion, driven by $4.3 billion in greenfield investments and capital increases, $3.1 billion in reinvested earnings, $1.6 billion in real estate purchases by non-residents, and $396.1 million from the sales of domestic entities to foreign investors. In March, Egypt's headline Purchasing Managers' Index (PMI) for the non-oil private sector fell to 46.7, down from 46.9 seen in February, according to Standard and Poor's (S&P) Global index data. The index's latest reading for June showed that conditions across Egypt's non-oil private sector economy deteriorated, as demand weakness and declining output continued to weigh on business activity. Portfolio investments also declined, with net inflows reaching just $2.1 billion, compared to $14.6 billion in the corresponding period of the previous fiscal year. Meanwhile, Egypt recorded net repayments of $2.6 billion in medium- and long-term loans and facilities, as principal repayments surged to $10.1 billion, compared to $5.9 billion the previous year. Disbursements increased to $7.5 billion from $4 billion. The CBE also saw a net increase in liabilities of $429.9 million, reversing a net outflow of $1.4 billion in the same period a year prior. Follow us on: Facebook Instagram Whatsapp Short link:
NZ Herald
02-07-2025
- Sport
- NZ Herald
Super Vets in badminton action at Gisborne centre on Saturday
Badminton Eastland starts its Super Veterans North Island Division 3 campaign at home this weekend. Eastland will host Bay of Plenty (2) and Hawke's Bay at the Badminton Centre on Saturday. Play starts at 9.30am, with Eastland up against BoP. BoP face Hawke's Bay in the next
India Gazette
30-06-2025
- Business
- India Gazette
India's trade deficit may surge to USD 300 bn in FY26 despite lower oil prices: ICICI Bank Report
New Delhi [India], June 30 (ANI): India's trade deficit is likely to widen to USD 300 billion in the financial year 2025-26, even though oil prices are expected to remain moderate, according to a recent report by ICICI Bank. The projected deficit would be 7.0 per cent of the country's GDP, higher than the USD 287 billion recorded in FY25 and USD 245 billion in FY24. The report stated, 'We see goods deficit widening to USD 300bn (7.0 per cent of GDP) in FY26. But steady inflows in case of services exports and remittances should ensure a CAD of USD 30bn (0.7 per cent of GDP)'. The report highlighted that while oil prices may not surge sharply, the widening trade deficit will be driven mainly by weak performance in non-oil exports. On the other hand, imports are expected to stay strong due to the strength in domestic growth. A trade deficit occurs when a country's imports are more than its exports, while a current account deficit is a broader measure that includes the trade deficit plus other international transactions like investment income and remittances from other countries. As per the bank's assessment, the global economic environment remains uncertain due to geopolitical developments and the threat of trade wars. Despite this, India's economy is expected to stay resilient, supported by fiscal and monetary stimulus measures. The report also noted that rural demand is holding up well, and sectors like services, exports and domestic travel are continuing to expand. The report also expects services exports and remittances to remain steady in FY26. However, growth in these areas could slow down, mainly because of weaker demand from the US. Taking these factors into account, the report projects India's current account deficit (CAD) to stand at USD 30 billion in FY26, which is 0.7 per cent of GDP. In FY25, India's trade deficit rose to USD 287 billion, up from USD 245 billion in FY24, due to a 6.2 per cent increase in imports. While exports in the current fiscal year have shown a modest growth of 3.1 per cent year-on-year so far, this rise is largely led by a strong 22 per cent increase in exports to the US, whereas exports to other countries declined by 1.2 per cent. Despite the challenges in global trade and expected pressure on exports, the report remained optimistic about India's external position. It said, 'FPI and FDI inflows should see improvement as the domestic growth cycle is improving. Overall, BoP to see a mild surplus'. (ANI)
Time of India
30-06-2025
- Business
- Time of India
India's trade deficit may surge to $300 bn in FY26 despite lower oil prices: ICICI Bank Report
India's trade deficit is likely to widen to USD 300 billion in the financial year 2025-26, even though oil prices are expected to remain moderate, according to a recent report by ICICI Bank . The projected deficit would be 7.0 per cent of the country's GDP, higher than the USD 287 billion recorded in FY25 and USD 245 billion in FY24. The report stated, "We see goods deficit widening to USD 300bn (7.0 per cent of GDP) in FY26. But steady inflows in case of services exports and remittances should ensure a CAD of USD 30bn (0.7 per cent of GDP)". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Philippines: Affordable Refrigerators for Sale - Check Out the Prices! Refrigerators | Search Ads Search Now Undo The report highlighted that while oil prices may not surge sharply, the widening trade deficit will be driven mainly by weak performance in non-oil exports. On the other hand, imports are expected to stay strong due to the strength in domestic growth. A trade deficit occurs when a country's imports are more than its exports, while a current account deficit is a broader measure that includes the trade deficit plus other international transactions like investment income and remittances from other countries. Live Events As per the bank's assessment, the global economic environment remains uncertain due to geopolitical developments and the threat of trade wars. Despite this, India's economy is expected to stay resilient, supported by fiscal and monetary stimulus measures. The report also noted that rural demand is holding up well, and sectors like services, exports and domestic travel are continuing to expand. The report also expects services exports and remittances to remain steady in FY26. However, growth in these areas could slow down, mainly because of weaker demand from the US. Taking these factors into account, the report projects India's current account deficit (CAD) to stand at USD 30 billion in FY26, which is 0.7 per cent of GDP. In FY25, India's trade deficit rose to USD 287 billion, up from USD 245 billion in FY24, due to a 6.2 per cent increase in imports. While exports in the current fiscal year have shown a modest growth of 3.1 per cent year-on-year so far, this rise is largely led by a strong 22 per cent increase in exports to the US, whereas exports to other countries declined by 1.2 per cent. Despite the challenges in global trade and expected pressure on exports, the report remained optimistic about India's external position. It said, "FPI and FDI inflows should see improvement as the domestic growth cycle is improving. Overall, BoP to see a mild surplus".
