Latest news with #PillarII
Newsroom
21-05-2025
- Politics
- Newsroom
Take military talks out from behind closed doors
The Government must be more upfront about its plans for New Zealand's military relationships, an academic says, as officials continue to hold meetings about a polarising security alliance behind closed doors. Debate over the trilateral security deal between Australia, the United Kingdom and the United States, and New Zealand's potential role in elements of the pact related to advanced technologies (better known as Pillar II), peaked last year.
Zawya
14-05-2025
- Business
- Zawya
Agthia reports $354mln in Q1 net revenue
ABU DHABI: Agthia Group PJSC today announced its financial results for the three-month period ending 31 March 2025. The Group reported AED 1.3 billion in revenue for Q1 2025, reflecting a year-on-year decline of 11.4%, with the quarter lapping the one-time wheat trading activity (AED 120 million), the significant devaluation of the Egyptian currency (EGP) in March 2024, and the carryover of the short-term operational challenges in the dates business. Excluding the impact of EGP devaluation and the wheat trading activity recorded last year, Group revenue would have recorded an increase of 5.2% year-on-year. Group EBITDA declined 20.2% year-on-year to AED 185.7 million, with a margin of 14.5%, reflecting ongoing pressures in specific categories. Net Profit for the quarter stood at AED 86.1 million, with a margin of 6.7%. Profitability was also impacted by the implementation of the Pillar II corporate tax in the UAE, which raised the Group's effective tax rate to 19.3%, up from 13.5% in the same period last year. During the quarter, Agthia increased its stake in Abu Auf from 70% to 80%, deepening integration within the Snacking segment and underscoring the Group's strong belief in its long-term growth potential. The move reflects Agthia's continued focus on scaling high-opportunity categories aligned with evolving consumer trends. In parallel, the Group's Board approved the acquisition of Riviere, a leading bottled water HOS player in the UAE, further expanding Agthia's direct-to-consumer footprint and strengthening its leadership in the Water category. Agthia ended the quarter with a Net Debt-to-EBITDA ratio of 2.4x and AED 321 million in cash and equivalents – maintaining a strong financial position that supports continued investment in strategic priorities and growth opportunities.
Yahoo
12-05-2025
- Business
- Yahoo
Navigating the UK's Robust Welfare System: Insights & Overviews 2025
Get comprehensive insights into UK employee benefits. Explore state, compulsory, and private benefits alongside the institutions and regulations shaping the social security system. Understand key aspects like pensions and welfare, crucial for strategic decisions. Ideal for HR professionals seeking in-depth knowledge of the UK's benefits landscape. Dublin, May 12, 2025 (GLOBE NEWSWIRE) -- The "Employee Benefits in the UK 2025" report has been added to report provides in-depth industry analysis, information, and insights of the employee benefits in the UK, including an overview of the state and compulsory benefits in the UK, detailed information about the private benefits in the UK, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in the UK has one of the most comprehensive and well-established welfare systems in the world. It is predominantly controlled by the social security system. Welfare benefits in the United Kingdom are disbursed under various schemes, such as cash benefits, healthcare, education, childcare housing, and personal social services. Cash benefits are classified into three subgroups: national insurance; means-tested; and non-contributory Highlights HM Revenue & Customs, the Department for Business, Energy, and Industrial Strategy (BEIS), and the National Health Service are responsible for the functioning of the overall social security system. A person's national insurance contribution is determined based on their income. An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution. In the UK, employers offer supplementary retirement benefits through occupational, company, or workplace pension schemes under Pillar II. This report provides a detailed analysis of employee benefits in the UK: It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment benefits, long term care benefits, minimum resource benefits, leaves and holidays, termination process, and private benefits It highlights the economic and regulatory situations relating to employee benefits in the UK Reasons to Buy Make strategic decisions using in-depth information related to employee benefits in the country Assess employee benefits of the market, including state and compulsory benefits and private benefits Gain insights into the key employee benefit schemes offered by private employers in the country Gain insights into key organizations governing employee benefits market, and their impact on companies Key Topics Covered: 1. Executive Summary2. Introduction3. Country Statistics4. Overview of Employee Benefits in the UK5. Regulations6. State and Compulsory Benefits Retirement Benefits Introduction Eligibility Benefits Payment options Contribution Death in Service Introduction Eligibility Benefits Payment options Contribution Long-Term Disability Benefits Introduction Eligibility Benefits Payment options Contribution Short-Term Sickness Benefits Introduction Eligibility Benefits Payment options Contribution Medical Benefits Introduction Eligibility Benefits Payment options Contribution Workers' Compensation insurance Introduction Eligibility Benefits Payment options Contribution Maternity and Paternity Benefits Introduction Eligibility Benefits Payment options Contribution Other Benefits Family Benefits Long-term benefits Long-Term Care Benefits Minimum Resources Benefits Leaves and Holidays Termination process 7. Private Benefits Retirement Benefits Death Benefits Disability Benefits Medical Benefits Accidental Death and Dismemberment Benefits Other Benefits For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
30-04-2025
- Business
- Zawya
Qatar: QIC Group posts first-quarter net profit of $56.31mln
Qatar - Qatar Insurance Group has posted a net profit of QR205mn for the first quarter of 2025, up from QR194mn in Q1, 2024. The results were approved during the Board of Directors meeting presided over by QIC Group Chairman Sheikh Hamad bin Faisal bin Thani Jassim al-Thani here Tuesday. Sheikh Hamad stated, 'QIC's Q1, 2025 results continue to reflect our consistent and stable bottom line focused growth with net profits of QR205mn at a 6% overall growth. While our direct Mena gross written premiums continued to grow at 17% quarter-on-quarter, our disciplined risk selection and exit from low‑margin international portfolios have strengthened our capital base and underpinned selective growth. 'As market conditions normalise, we are fully committed to accelerating our digital transformation and expanding customer-centric innovations to sustain our leadership position across the region.' Sheikh Hamad added: 'Strategic investments in automation and data-driven decision-making have enhanced our operational efficiency and turnaround times. With the launch of our ESG framework and the establishment of our Sustainability Committee, we are embedding environmental and social responsibility into every aspect of our business. 'In 2025, we are focused on deepening market penetration, advancing digital leadership, and upholding the highest standards of governance. As part of our regional growth strategy, we are moving forward with plans to enter the Saudi market—subject to regulatory approvals—marking a significant step in expanding our footprint across the GCC.' Group Chief Executive Officer Salem Khalaf al-Mannai said, 'Q1, 2025 results are once again the testament of QIC Group's successful execution of its set strategy to build up a well-diversified and balanced risk portfolio focused in short tail risks, which will deliver consistent and stable bottom-line driven growth. Operational excellence remains at the core of our strategy. 'In Q1, 2025, we delivered insurance service results of QR76mn, net investment and other income of QR229mn and consolidated net profit of QR205mn. The consolidated net profit attributable to shareholders of the parent stood at QR201mn. These results demonstrate robust momentum across our core business lines.' While the global and regional markets were highly volatile and challenging, QIC Group has delivered a net profit of QR215mn with a 11% growth in bottom line for the period (before the impact of Pillar II, which is effective from 2025). 'As the global insurance rates continue to soften and decline, we continue to maintain our growth momentum and our Gross written premium growth as per plan, generated through our direct regional operations and international operations through Antares Lloyds Syndicate, London.' Al-Mannai stated: 'Our relentless focus on process optimisation and automation is yielding tangible gains in cost efficiency and service speed. Enhancements to the QIC App, including seamless car rentals, repair services, car wash bookings, and real-time vehicle valuations, further cement our reputation as Qatar's most innovative insurer. Supported by a strong capital position and a Board-approved ESG framework, we are driving consistent, profitable growth while delivering exceptional customer experiences.' The regional gross written premiums increased to QR1.7bn in Q1, 2025 up 17% quarter on quarter – and now account for more than half (59%), of the group's total premiums, compared to less than 20% in 2021. While there is currently a great deal of uncertainty and confusion surrounding tariffs and trade tensions amongst leading global economies that has impacted the global financial markets like a storm cloud, QIC continued to report stable investment and other income of QR229mn for Q1, 2025, compared to QR245mn for the same period in 2024. The return on investment came in at 5%, compared to 5.3% last year. QIC Group maintained a stable, well-diversified investment portfolio, aligned with its long-term strategic asset allocation. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
Emirates 24/7
13-02-2025
- Business
- Emirates 24/7
International Tax Forum explores innovative mechanisms to deal with global tax challenges, opportunities
Thought leaders, economic experts, government officials and private sector representatives discussed a series of pivotal issues impacting the global tax landscape, including in-depth discussions on the OECD's Global Minimum Tax, at the International, during the International Tax Forum (ITF), organised by the Ministry of Finance. Held as part of the World Governments Summit 2025, which runs from 11th to 13th February in Dubai under the theme 'Shaping Future Governments', the forum explored the importance of OECD's Pillar II rules in addressing the challenges of base erosion and profit shifting, and ensuring that multinational companies are subject to minimum tax rates. Participants highlighted such reform's role, not only in contributing to enhancing tax justice but also in supporting the stability of the global economy and achieving a balance between advanced and emerging economies. The forum also discussed mechanisms for exchanging tax information and their role in combating tax evasion and enhancing transparency, noting that international cooperation in this field is a key pillar for building effective and sustainable tax systems. Discussions also touched on e-invoicing as a modern tool capable of improving the efficiency of tax systems and reducing administrative burdens on companies, thereby promoting the digital transformation of economies. Regarding the future of taxation, participants focused on the challenges posed by the digital economy, such as the emergence of new business models and the rise of e-commerce. Experts called for the need to develop innovative and proactive tax policies that keep pace with these transformations, while stressing the importance of cooperation between governments and the private sector to ensure the sustainability and simplicity of tax systems. In his opening remarks, Younis Haji Al Khouri, Under-Secretary of the Ministry of Finance, said, "The ITF presents an opportunity to foster international dialogue on issues reshaping the global tax system. Hosting the forum comes at a time when the international tax system is witnessing major transformations. Such rapid economic transformations, added to a growing digitisation wave, pose unprecedented challenges and opportunities that require innovative responses and effective international cooperation." "Among the most prominent initiatives leading global efforts to reform the international tax system and achieve tax justice is the OECD Global Minimum Tax or Pillar II rule, which represents a pivotal step to ensure minimum taxes for multinational companies. In addition to such measures, the forum focused on other important and evolving tax issues, including the exchange of tax information, electronic invoicing mechanisms, and the future of taxes in light of digital transformations," he added. Al Khouri concluded, 'Today, we stand at the threshold of a new phase that requires proactive vision to navigate the challenges and opportunities posed by the digital economy. Hence, the forum aimed to discuss practical solutions and future policies that will ensure the sustainability of tax systems globally. Achieving this sustainability requires the concerted efforts of governments, international institutions and the private sector.' Follow Emirates 24|7 on Google News.
