Latest news with #NIS
BBC News
a day ago
- General
- BBC News
Who be Ezeani wey Nigerian authorities gbab for accuse say e bury pipo alive for Enugu
Di Nigeria Immigration Service (NIS) say dem don capture one suspected ritualist Onyeka Nwaobu, wey dey face accuse say e bury pipo alive for im house for Umumba Ndiagu, Enugu State, southeastern part of di kontri. Dem catch di man wey many dey refer to as native doctor for di border between Nigeria and Benin Republic as e bin wan run comot from di kontri, according to one statement by di NIS tok-tok pesin AS Akinlabi. Di NIS say na during one stop and search operation for di Gbaji checkpoint for Seme border, by security forces including di Nigeria police, na dia dem gbab di suspect as e dey on top bike wan cross over. "We confam im identity using one National Identity Management Commission slip wey we find for im possession, and during interrogation," di statement tok. Di tori of dis suspected ritualist na wetin don dey trend for social media for days now as many Nigerians express shock and anger for videos wey dey circulate wey show say dem bury pipo for inside im compound for Enugu State. Nwaobu don deny all di accusations - e say na set up. How evritin take start Tori about dis suspected ritualist Onyeka Nwaobu break wen one small girl allegedly escape from im hand afta di man and im gang bin allegedly kidnap her. Dis event according to wetin local pipo tell BBC tori pesin, happun on Monday, 26 May, 2025, for Umumba Ndiagu village, Ezeagu local goment area of Enugu State. For one video wey don go viral on social media, di girl tok say she and her father bin go to dia farm to fetch firewood, wen di men approach dem and beg her father to help dem wit dia motorcycle wey spoil. Dem later overpower her papa bifor dem carry her run, tie her mouth and legs. "Dem put me for one hole for di ground and cover am wit leaves, but as I continue to dey make sound, e attract some vigilante pipo wey dey pass and dem come rescue me," di girl tok for di video. Afta dis rescue, villagers gada for di native doctor house wit vex and set am on fire, by den di man imsef - wey im native doctor name na Ozor Ezeani - don run. One man Ambrose Obieze, wey dey live for Umumba village tell BBC Igbo say dem see plenty ditches for di man house wia e allegedly bury pipo for inside. Videos and pictures of inside di compound of di native doctor, and di plenty juju materials wey di villagers see wen dem go dia, don go viral on top plenty social media platforms. Enugu State goment and police act Govnor Peter Mba of Enugu State order di demolition of di house of di suspected ritualist, and goment bulldozers don already level di man entire compound. Several states for di southeast region get law say any property belonging to a kidnapper, goment go destroy am and seize di land. Also, di Enugu State police command don chook mouth for di matter, as di Commissioner of Police, Mamman Bitrus Giwa, hail di Neighbourhood Watch vigilante pipo wey rescue di kidnapped little girl and also capture three of di suspects wey bin kidnap her. Tok-tok pesin for di police, Daniel Ndukwe, give di names of di arrested suspects and confam say dem discover di decomposing corpses of one man and one woman for di ditches wey di native doctor dig for im house. Wetin relatives and locals tok One family member of di suspect tell BBC say dia brother bin come back from Togo wia e bin dey, and e no tey, e start to dey build house. "We bin tink say e don make money, but we no know say e carry juju come back wey dey demand human head," e tok. "Wetin we know be say im na native doctor and e dey usually shoot local canon for midnight. We no know say e dey kill pipo." Another villager also tell BBC tori pesin say di suspect na "veri bad and strong juju" e dey do. Di villager allege say di land wia di suspect dey build im house currently na land wey e allegedly collect by force from one woman wey im husband die. Nwaobu say di allegations no be true and add say e no be native doctor. E say na okrika e dey sell. Who be Onyeka Nwobu? According to wetin local pipo tell BBC, di suspect Onyeka Nwobu, na ogbonge native doctor wey pipo dey fear well-well for di area. Im native doctor name na Ozor Ezeani but e also get nickname 'ichie million' wey mean 'chief of millions'. Dis name na sake of how e dey usually spray money for events and ceremonies for di village. E bin dey stay for Togo bifor e come back village and tok say im na traditionalist now. Ikechukwu Chime wey be priest of di Anglican Church for di village, tell BBC say di man follow for di youths wey come back home wit di disguise say dem wan return to di tradition and religion of dia ancestors, "but now e don clear us say na blood dem dey drink". A history of ritual killings Ritual killing to make money no be new tori for Nigeria, a kontri wey get large youth population, but wia unemployment and poverty rate dey veri high. For March dis year, di Rivers State Police Command, for di south-south region, arrest one native doctor and im accomplice wey allegedly kill two seven-year old girls from di same family for ritual purpose. Also, for January 2023, Police for Ogun State arrest one herbalist and five odas wey allegedly kidnap, kill and sell body parts of one 26 years old woman for Ijebu Ode area of di state. For March of di same 2023, one magistrate court for Ekiti State remand three pipo for prison sake of alleged kidnapping and killing of one 82-year-old man, Michael Obasuyi, for ritual purposes.
Yahoo
4 days ago
- Business
- Yahoo
Strauss Group Reports First Quarter 2025 Results: Revenues up 15.5%, reaching NIS 3 billion Operating profit amounted to NIS 181 million[1]
First Quarter 2025 Highlights: Sales growth across all business segments in Israel and globally, driven primarily by Brazil Continued investment in infrastructure in Israel, including a new production facility for plant-based milk alternatives in Northern Israel (expected to be completed by the end of 2025), and new logistics centers in Bror Hayil and Yotvata Growth in Israel across all segments, driven by innovation and a customer-centric approach The international coffee business achieved record revenues and operating profit in the quarter In Brazil, the group continues to maintain its leading competitive position in coffee and presented an improvement in its operating profit. Strauss Water launched a new brand in the UK, in collaboration with Culligan S&P Maalot affirmed the Group's ilAA+ rating with stable outlook PETAH TIKVA, Israel, May 28, 2025 /PRNewswire/ -- Strauss Group Ltd. (TASE: STRS) reported its financial statements for the first quarter of 2025, highlighting significant revenue growth despite ongoing inflationary pressures in raw material costs, particularly coffee and cocoa. Strauss Group President & CEO Shai Babad commented: "In the first quarter. Strauss Group achieved significant growth in all activities, while improving market share in main categories. This growth was driven across the board by strengthening our position as the leading coffee company in Brazil and leaning into consumer centric trends in Israel, introducing product innovation that powers our popular brands. Likewise, we have continued our commitment to Israeli industry, investing in manufacturing facilities and logistics centers in the North and South of the country. We recently laid the cornerstone for a new logistics center in Bror Hayil, and later this year we intend to launch a new production facility for plant-based milk alternatives in the North. "The Group remains focused on the consistent execution of our strategic plan, while facing the ongoing pressure of high raw material costs and are committed to delivering sustainable growth and value to our consumers." Key financial indicators: NIS millions Q1 2025 Q1 2024 % Change Sales 2,990 2,589 +15.5 % Operating profit 181 204 -11.2 % Operating margin % 6.0 % 7.8 %Net profit 73 159 -54.8 % Net margin % 2.4 % 6.2 % Strauss Group released its financial statements for the first quarter of 2025, reporting sales of approximately NIS 3 billion, representing 15.5% growth compared to the same quarter last year. Growth was primarily driven by the international coffee business, with Brazil in particular, in addition to ongoing growth in Israel and Strauss Water, with volume growth achieved in some of the business segments. The Group's operating profit reached NIS 181 million, 6.0% of sales, compared to NIS 204 million, 7.8% of sales in the first quarter last year. Operating profit was impacted by rising raw material costs, particularly green coffee and cocoa. Net profit amounted to NIS 73 million, 2.4% of the sales. In parallel, and as part of its strategic plan, the Group delivered operational efficiencies through the implementation of productivity initiatives. Excluding a non-recurring loss on cocoa derivatives of NIS 49m, the gross profit would have reached NIS 830m, reflecting a 27.7% margin. Quarterly summary by operating segment: Strauss Israel – 6.6% growth in Q1 2025 Strauss Israel concluded the quarter with revenue of NIS 1.4 billion, an increase of 6.6%, yoy. Strauss Israel's operating profit was NIS 113 million, reflecting a decline of 25.7%, yoy. The decline in profitability was mainly due to rising coffee and cocoa prices and realization of a non-recurring loss of NIS 49m on cocoa derivatives. Health & Wellness segment sales reached NIS 742 million, up 1.5%, yoy, while the segment's operating profit reached NIS 88 million, an increase of 18.2%. Fun & Indulgence (Snacks and Confectionery) segment sales reached NIS 394 million, up 9.2%, yoy. The segment reported an operating loss of NIS 16 million, of which NIS 49 million is attributable to the realization of non-recurring loss on cocoa derivatives. Fun & Indulgence (Israel Coffee) segment sales reached NIS 260 million, up 19.4%, yoy, with the segment's operating profit reaching NIS 41 million, an increase of 15.5%, yoy. Strauss International Coffee – 45.4% growth in Q1 2025 In Q1 2025, Strauss Coffee's sales reached NIS 1.4 billion, representing an increase of 45.4%, yoy. Operating profit reached NIS 55 million, an increase of 43.9%, yoy, with an operating margin of 3.9%. The Group's coffee activity in Central Eastern Europe – Poland, Romania, Russia and Ukraine – delivered sales growth during the quarter moderated by the impact of exchange rates. Sales of the coffee company in Brazil, Três Corações (50% owned) reached NIS 1,008 million, up 56.4%, yoy, while operating profit reached NIS 30 million, an increase of 133.1%, yoy. Strauss Water – 6.9% growth in Q1 2025 Strauss Water continued to grow in the first quarter of 2025, reaching revenues of NIS 206 million, an increase of 6.9%, yoy. Operating profit reached NIS 26 million, up 8.7%, yoy, with an operating margin of 12.5%. The Group's water business in China (in partnership with Haier) concluded the quarter with sales of NIS 227 million, an increase of 5.2%, yoy, and reached net profit of NIS 31 million, representing an increase of 16.5%, yoy, (based on 100% ownership). Following are key sales figures, by business segment, based on the company's management (non-GAAP) reports(1) (in NIS m):First Quarter2025 2024 % Change % Change excluding FX Sales Strauss Israel Health & Wellness 742 731 1.5 % 1.5 % Fun & Indulgence (Snacks and sweets) (2) 394 361 9.2 % 9.2 % Fun & Indulgence (Coffee Israel) (2) 260 217 19.4 % 19.4 % Total Strauss Israel 1,396 1,309 6.6 % 6.6 % Total International Coffee(2) 1,388 954 45.4 % 65.0 % Strauss Water(2) 206 193 6.9 % 7.0 % Other (3) - 133 -100.0 % -100.0 % Total Group 2,990 2,589 15.5 % 20.9 % (1) The data presented in this document are based on the company's non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties and/or the derivative is exercised; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise. (2) Fun & Indulgence (Snacks and Confectionery) figures include Strauss's 50% interest in the salty snacks business. International Coffee figures include Strauss's 50% interest in the Três Corações joint venture (3C) in Brazil (a company jointly held by the Group (50%) and by the local São Miguel Group (50%)). Strauss Water EBIT figures include Strauss's interest in Haier Strauss Water (HSW) in China (49%). (3) Comparative figures include the data for Sabra and Obela (based on 50%), which were sold during 2024. Note: Financial data were rounded to the nearest NIS million. Percentages changes were calculated based on the exact figures in NIS thousands. The figures for total International Dips & Spreads were derived from the exact figures for Sabra and Obela, in NIS thousands. Following are key operating profit figures, by business segment, based on the company's management (non-GAAP) reports(1) (in NIS m):First Quarter2025 2024 % Change Strauss Israel:Health & Wellness 88 74 18.2 % Operating Margin (%) 11.9 % 10.2 %Fun & Indulgence (Snacks and Sweets)(2)(4) -16 42 -139.5 % Operating Margin (%) -4.2 % 11.5 %Fun & Indulgence (Coffee Israel) (2) 41 35 15.5 % Operating Margin (%) 15.7 % 16.3 %Total Strauss Israel 113 151 -25.7 % Operating Margin (%) 8.1 % 11.6 %Total International Coffee (2) 55 38 43.9 % Operating Margin (%) 3.9 % 4.0 %Strauss Water (2) 26 24 8.7 % Operating Margin (%) 12.5 % 12.3 %Other (3) -13 -9 25.8 % Total Group 181 204 -11.2 % Operating Margin (%) 6.0 % 7.8 %(1) The data presented in this document are based on the company's non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties and/or the derivative is exercised; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise. (2) Fun & Indulgence (Snacks and Confectionery) figures include Strauss's 50% interest in the salty snacks business. International Coffee figures include Strauss's 50% interest in the Três Corações joint venture (3C) in Brazil (a company jointly held by the Group (50%) and by the local São Miguel Group (50%)). Strauss Water EBIT figures include Strauss's interest in Haier Strauss Water (HSW) in China (49%). (3) Comparative figures include the data for Sabra and Obela (based on 50%), which were sold during 2024. (4) The decrease to a loss of approximately 16 million shekels in the Fun & Indulgence (Snacks and sweets) is mainly due to a one-time loss in derivative activities. Following are key financial data, based on the company's management (non-GAAP) reports(1) (in NIS m): First Quarter2025 2024 % Change Total Group Sales 2,990 2,589 15.5 % Organic Sales Growth excluding FX 20.9 % -0.7 %Gross Profit 781 874 -10.6 % Gross Margins (%) 26.1 % 33.7 % -760 bps EBIT 181 204 -11.2 % EBIT Margins (%) 6.0 % 7.8 % -180 bps Net Income Attributable to the Company's Shareholders 73 159 -54.8 % Net Income Margin Attributable to the Company's Shareholders (%) 2.4 % 6.2 % -380 bps EPS (NIS) 0.62 1.37 -54.8 % EBITDA 282 318 -11.1 % EBITDA Margins (%) 9.4 % 12.3 % -290 bps Operating Cash Flow -347 -115 201.7 % Capex (2) -148 -163 -9.2 % Net debt 2,652 2,789 -4.9 % Net debt / EBITDA 2.3x 2.3x 0.0x Sales The company's sales in Q1-2025 reached NIS 2,990 million, an increase of 15.5% compared to the first quarter of 2024. Excluding the impact of exchange rates, sales increased by 20.9%. During 2024, the company completed several divestments, including the sale of the coffee business in Serbia, the fresh vegetables business in Bror Hayil, and the international dips and spreads business (Sabra & Obela). Excluding these discontinued operations, sales increased by 23.3%. Sales growth was largely driven by price increases across several categories and geographies, implemented in response to rising raw material costs. In addition, the Fun & Indulgence (Snacks and Confectionery) and the Fun & Indulgence (Israel Coffee) segments recorded growth due to higher sales volumes, the timing of Passover, and recovery from the war. Growth was also achieved in the International Coffee segment following price increases, which was moderated by the negative impact of exchange rates with the strengthening of the shekel against all currencies, particularly the Brazilian Real. Gross profit Gross profit in Q1 2025 declined by 10.6% reaching NIS 781 million, 26.1% of sales, compared to gross profit in Q1-24 of NIS 874 million, 33.7% of sales. The decline in gross profit and gross margin was primarily driven by higher raw material costs (particularly cocoa and green coffee), the sale of the dips and spreads business and realization of a non-recurring loss of NIS 49m on cocoa derivatives. These effects were partially offset by the growth in sales. Operating profit Operating profit in Q1-2025 declined by 11.2% to NIS 181 million, representing 6.0% of sales, compared to operating profit Q1-2024 of NIS 204 million, 7.8% of sales. The decline in operating profit and the operating margin was due to the lower gross profit, moderated by productivity initiatives implemented by the company, lower selling and marketing expenses in the Israel and International Coffee segments, reduced IT and payroll expenses, and the divestment of the dips and spreads business. Income attributable to shareholders of the company In Q1-2025, income attributable to shareholders of the company amounted to NIS 73 million, representing 2.4% of the sales, in comparison to NIS 159 million, 6.2% of sales in Q1-2024. The decline was primarily the result of lower operating profit and timing differences in tax expenses. Following are key financial data, based on the company's GAAP reports (in NIS m): First Quarter2025 2024 % Change Sales 1,887 1,726 9.3 % Cost of sales excluding impact of commodity hedges 1,299 1,090 19.1 % Adjustments for commodity hedges -24 71Cost of sales 1,275 1,161 9.8 % Gross profit 612 565 8.3 % % of sales 32.4 % 32.7 %Selling and marketing expenses 340 353 -3.7 % General and administrative expenses 121 129 -6.3 % Total expenses 461 482 -4.4 % Share of profit of equity-accounted investees 47 36 30.8 % Share of loss of equity-accounted incubator investees -8 -2 300.0 % Operating profit before other expenses 190 117 62.6 % % of sales 10.1 % 6.8 %Other expenses, net -9 -50Operating profit after other expenses 181 67 168.6 % Financing expenses, net -13 -17 -26.3 % Income before taxes on income 168 50 235.9 % Taxes on income -57 21Effective tax rate 34.2 % -41.4 %Income for the period 111 71 56.3 % Attributable to the Company's shareholders 86 51 67.8 % Attributable to non-controlling interests 25 20 26.4 % Webinar Earnings Call On Wednesday, May 28th, 2025, at 14:00 Israel time/12:00 UK time/7:00 a.m. ET, Strauss Group will host a webinar earnings call in Hebrew to review the financial statements of the company. The webinar will be hosted by the company's management. To participate in the webinar please use the following link: Webinar ID: 812 7646 3271 In addition, on Wednesday, May 28th, 2025, at 15:30 Israel time/13:30 UK time/8:30 a.m. ET, Strauss Group will host a webinar earnings call in English to review the financial statements of the company. The webinar will be hosted by the company's management. To participate in the webinar please use the following link: Webinar ID: 871 1664 0032 Questions for the questions and answers session may be submitted in advance to: ir@ Management's review will be accompanied by a presentation which will be available on the Investor Relations section of our website on Wednesday, May 28th, 2025: / Strauss Group's Q1 2025 earnings press release and financial statements will be available on the Company's website: / A recording of the webinar will be available on the company's website shortly following the webinar. For further information, please contact:Telem Yahav Director of External Communications 972-52-257-9939 972-3-675-6713 Rivka Neufeld Investor Relations Manager +972-54-4224146 Ben Yaakov Director of Communications and PR 972-54-609-1600 972-3-675-2584 Forward Looking Statement Disclaimer This press release does not constitute an offering to purchase or sell securities of Strauss Group Ltd. (the "Company") or an offer for the receipt of such offerings. The press release's sole purpose is to provide information. The Information provided in the press release concerning the analysis of the Company's activity is only an extract, and in order to receive a complete picture of the Company's activity and the risks it faces, one should review the Company's reports to the Israel Securities Authority and the Tel Aviv Stock Exchange. The press release may contain forward-looking statements as defined in the Israeli Securities Law, 5728-1968. All forward-looking statements in this press release are made based on the Company's current expectations, evaluations and forecasts, and actual results may differ materially from those anticipated, in whole or in part, as a result of different factors including, but not limited to, changes in market conditions and in the competitive and business environment, regulatory changes, currency fluctuations or the occurrence of one or more of the Company's risk factors. In addition, forward-looking forecasts and evaluations are based on information in the Company's possession while preparing the press release. The Company does not undertake any obligation to update forward-looking forecasts and evaluations made herein to reflect events and/or circumstances that may occur after this press release was prepared. GAAP to Non-GAAP Reconciliations In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results which include the results of jointly controlled entities as if they were proportionately consolidated. Strauss Group has a number of jointly controlled companies: the Três Corações joint venture (3C) - Brazil (a company jointly held by Strauss Group (50%) and by the São Miguel Group (50%) in Brazil), Strauss Frito-Lay Ltd. (a 50%/50% JV with PepsiCo Frito-Lay in Israel) and until the completion of the sale in December 2024, Sabra Dipping Company (a 50%/50% JV with PepsiCo in the U.S. and Canada)("Sabra"), and PepsiCo Strauss Fresh Dips & Spreads International(1) (a 50%/50% JV with PepsiCo outside the U.S. and Canada) ("Obela"). For more information on this sale, please refer to the Description of the Company's Business Report for 2024, section 11.1. In addition, non-GAAP figures exclude any share-based payments, mark to market of commodity hedging transactions as at end-of-period, other expenses or income and taxes referring to these adjustments. Company Management believes that these measures provide investors with transparency by helping to illustrate the underlying financial and business trends relating to the Company's results of operations and financial position and comparability between current and prior periods. Management uses these measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the GAAP to non-GAAP reconciliation tables in the Company's MD&A Report for a full reconciliation of the Company's GAAP to non-GAAP results. [1] The data presented in this document are based on the company's non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise. View original content: SOURCE Strauss Group Ltd. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
NTA: Tel Aviv metro system faces major delays, won't open before 2040
Since the outbreak of the war, foreign firms have become hesitant to operate in Israel — either due to security concerns for their personnel or fear of public backlash. An internal document from NTA, the government company overseeing mass transit in the Tel Aviv area, confirmed the previous report by Walla that the target date of 2034 for opening the metro is no longer realistic. The ongoing war is deterring foreign companies vital to the project from bidding on tenders in Israel, and recruiting foreign workers has also become increasingly difficult. For more stories from ALL ISRAEL NEWS go to A year and a half after Walla revealed that NTA officials estimate that the Tel Aviv metro won't launch before 2040 — six years later than the official target — the company is now preparing to adopt this revised timeline as its official position. The leaked internal document outlines the implications of formally announcing such a delay. This mirrors a move made last year by NTA's CEO, Itamar Ben Meir, who disclosed a 1–3 year delay for the opening of the Green and Purple light rail lines. Delays in major infrastructure projects are not unusual, but public authorities often avoid acknowledging them until the very last moment. This time, NTA is trying to break that pattern. According to the document, in order to meet the original 2034 goal, tenders worth NIS 67 billion (roughly $18 billion USD) for key infrastructure works — including tunnel and station excavation, depot construction, and above-ground street modifications — would need to be issued by 2027. These infrastructure stages are referred to as Infra 1 and 2. Given the scale and complexity of the work, international collaboration is essential, as has been the case with the light rail projects. But since the outbreak of the war, foreign firms have become hesitant to operate in Israel, either due to security concerns for their personnel or fear of public backlash. Even companies already working on light rail expansions in Israel have pulled out foreign staff for extended periods, leading to delays like those seen in Jerusalem's light rail extensions. The document also warns that an official announcement of the delay could complicate land expropriations required for the metro and provoke political fallout, particularly with Transportation Minister Miri Regev. Ironically, some of the delays can be traced back to Regev herself. As an opposition lawmaker, she worked to block the Metro Law (which was eventually passed two years later), and more recently, she has delayed the establishment and staffing of the Metro Authority. She also pushed to postpone approval of the M1 metro line in the Sharon region and demanded its extension to the West Bank. Postponing the metro's launch to 2040 deals a significant blow to efforts to resolve the severe transportation crisis in the Tel Aviv metropolitan area. While the addition of the Green and Purple light rail lines between 2028 and 2030 will finally create a full light rail network in central Israel (alongside the existing Red Line), it will only partially meet demand. That's why the government decided to build a full underground metro system. A congestion charge — expected to cost drivers up to NIS 37 ($10) per day to enter central Tel Aviv by car — is also meant to ease traffic and encourage use of public transportation. However, this too faces opposition from Minister Regev and is progressing mainly due to pressure from the Finance Ministry.
Yahoo
4 days ago
- Business
- Yahoo
3 Middle Eastern Dividend Stocks Yielding Up To 6.7%
The Middle Eastern stock markets have been experiencing varied performances, with Saudi Arabia's index reaching its lowest level since early April, while other indices like Dubai and Abu Dhabi show modest gains. In such a fluctuating market environment, dividend stocks can offer investors a measure of stability and income through regular payouts, making them an attractive option for those looking to navigate these uncertain times. Name Dividend Yield Dividend Rating FMS Enterprises Migun (TASE:FBRT) 6.79% ★★★★★★ Emaar Properties PJSC (DFM:EMAAR) 7.38% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 7.96% ★★★★★☆ Arab National Bank (SASE:1080) 6.18% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 5.98% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 7.75% ★★★★★☆ Saudi Telecom (SASE:7010) 10.00% ★★★★★☆ Delek Group (TASE:DLEKG) 8.10% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 6.04% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 4.29% ★★★★★☆ Click here to see the full list of 77 stocks from our Top Middle Eastern Dividend Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Dividend Rating: ★★★★★★ Overview: FMS Enterprises Migun Ltd manufactures and sells ballistic protection raw materials and products globally, with a market cap of ₪1.56 billion. Operations: FMS Enterprises Migun Ltd generates revenue of $128.07 million from its Aerospace & Defense segment, focusing on the production and distribution of ballistic protection materials and products worldwide. Dividend Yield: 6.8% FMS Enterprises Migun offers a compelling dividend profile with a stable and reliable payout history over the past decade. The company's dividends are well-covered by both earnings (payout ratio: 69.1%) and free cash flows (cash payout ratio: 68.4%), indicating sustainability. Recent financial results show robust growth, with net income rising to US$43.38 million in 2024 from US$37.71 million in 2023, supporting continued dividend payments amidst increasing sales figures of US$128.07 million for the year ended December 31, 2024. Unlock comprehensive insights into our analysis of FMS Enterprises Migun stock in this dividend report. According our valuation report, there's an indication that FMS Enterprises Migun's share price might be on the cheaper side. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: I.B.I. Investment House Ltd. is a publicly owned holding investment firm with approximately NIS 11 billion ($2.63 billion) in assets under management and a market cap of ₪3.67 billion. Operations: I.B.I. Investment House Ltd.'s revenue segments include Capital Group (₪183.85 million), Self-investments (₪19 million), Issues and Underwriting (₪40.97 million), Service, Trade and Custody (₪317.36 million), Pension and Financial Agencies (₪88.68 million), Alternative Investment Management (₪173.10 million), and Portfolio Management and Mutual Funds (₪244.76 million). Dividend Yield: 4.3% I.B.I. Investment House's dividend profile is marked by volatility over the past decade, with payments experiencing significant fluctuations. Despite this, current dividends are covered by earnings and cash flows, evidenced by an 87% payout ratio and a 71.5% cash payout ratio. Recent inclusion in the TA-125 Index highlights its market presence, while earnings growth to ILS 178.14 million for 2024 supports its capacity to maintain dividends despite a lower yield of 4.25%. Navigate through the intricacies of I.B.I. Investment House with our comprehensive dividend report here. According our valuation report, there's an indication that I.B.I. Investment House's share price might be on the expensive side. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Zanlakol Ltd develops, produces, markets, and sells vegetable products in Israel with a market cap of ₪580.80 million. Operations: Zanlakol Ltd's revenue is primarily derived from its Tomato Products segment at ₪164.47 million, followed by Vegetable Products at ₪162.36 million, and Dairy Products contributing ₪125.39 million. Dividend Yield: 3.1% Zanlakol's dividends have been volatile over the past decade, lacking reliability. However, current dividend payments are well covered by both earnings and cash flows, with payout ratios of 36.4% and 44.9%, respectively. Despite trading below estimated fair value, its dividend yield of 3.07% is lower than top-tier payers in the market. Recent Q1 earnings show improved sales at ILS 126.41 million and net income at ILS 14.25 million, suggesting potential for future stability in payouts. Delve into the full analysis dividend report here for a deeper understanding of Zanlakol. Our valuation report unveils the possibility Zanlakol's shares may be trading at a discount. Unlock more gems! Our Top Middle Eastern Dividend Stocks screener has unearthed 74 more companies for you to here to unveil our expertly curated list of 77 Top Middle Eastern Dividend Stocks. Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TASE:FBRT TASE:IBI and TASE:ZNKL. This article was originally published by Simply Wall St. Have feedback on this article? 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![[Exclusive] No agents' phones affected by SKT hack to date: NIS](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
22-05-2025
- Politics
- Korea Herald
[Exclusive] No agents' phones affected by SKT hack to date: NIS
Spy agency working with US, UK counterparts to track perpetrators behind hack of country's largest mobile operator No mobile phones used by officials working in the government's major security departments have been affected by the SK Telecom hack so far, according to a National Intelligence Service document seen exclusively by The Korea Herald. In the document dated Thursday, the NIS said no official phones used at the five government departments and agencies -- the NIS, Ministry of National Defense, Ministry of Foreign Affairs, Ministry of Science and ICT and the Presidential Security Service -- have suffered a data breach or other security incidents since the hack of the country's largest telecom provider first surfaced last month. Although no security incidents involving official phones have been detected to date, the NIS said it was monitoring for the possibility. According to the NIS, SK Telecom has been the sole manufacturer of official phones used by the South Korean government since April 2020. In the document, the spy service concluded that the security functions of the officials' phones should not, in principle, be affected by the SK Telecom hack. However, the NIS admitted that official phones, which have higher protection than normal phones, could be subject to universal subscriber identity module card duplications. To prevent possible security breaches, all of the official phones have been subscribed to SK Telecom's USIM protection services as of April 29, the NIS said. USIM cards on the official phones were also being replaced with new ones. The NIS said it was working closely with its counterparts in the US, UK and Singapore to identify the perpetrators behind the telecom hack.
