Latest news with #R22.6bn
IOL News
3 days ago
- Business
- IOL News
South Africa posts R14. 1bn trade surplus in April, down from March
South Africa recorded a preliminary trade balance surplus of R14.1 billion in April, the South African Revenue Service (Sars) reported on Friday, a decline from the revised R22.6bn surplus in March. The April surplus was driven by exports of R166.2bn and imports of R152.1bn, including trade with Botswana, Eswatini, Lesotho, and Namibia (BELN). However, the surplus was lower than the R24.8bn recorded in March, reflecting a month-on-month export decline of R4.3bn (-2.5%) and an import increase of R4.3bn (2.9%). Compared to April 2024, exports fell 4.0% from R173.2bn, while imports dropped 4.2% from R158.8bn. The year-to-date trade surplus (January to April 2025) stood at R39.7bn slightly below the R40.6bn surplus for the same period in 2024. Sars attributed the export decline to reduced shipments of grapes, gold, and iron ores and concentrates, while increased imports were driven by original equipment components, aeroplanes, and diamonds. BUSINESS REPORT Visit:
TimesLIVE
20-05-2025
- Business
- TimesLIVE
Pfizer in deal with China's 3SBio to licence cancer drug candidate, take equity stake
US drugmaker Pfizer said it would licence an experimental cancer treatment from China's 3SBio Inc, paying $1.25bn (R22.6bn) upfront and up to another $4.8bn (R87bn) if developmental milestones are met. Pfizer also plans to make a $100m (R1.8bn) equity investment in 3SBio after the transaction closes, which is expected to happen in the third quarter. Shares in 3SBio surged 35% in Hong Kong trade on Tuesday, valuing the Chinese biopharmaceutical company at nearly $6bn (R108bn). The drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing clinical trials in China and 3SBio plans to initiate the first phase III trial in China this year. The agreement covers the development, manufacturing and commercialisation of the drug. Pfizer has been granted a global licence, excluding China, and the option to obtain commercialisation rights in China. 3SBio said separately the drug has received clearance from the US Food and Drug Administration for its investigational new drug application. Pfizer plans to manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and the drug product in McPherson, Kansas.
TimesLIVE
09-05-2025
- Automotive
- TimesLIVE
Toyota sees 21% full-year profit decline as tariffs take a bite
Toyota Motor expects profit to decline by a fifth in this financial year, it said on Thursday as weakness in the US dollar and the impact of President Donald Trump's tariffs weigh on the world's largest carmaker. In the latest example of how global trade disruption is hitting bottom lines, the world's top-selling car manufacturer said it expected operating income to total ¥3.8-trillion (R474.2bn) in the year to March 2026, vs ¥4.8-trillion (R602.36bn) in the year that just ended. Toyota's results also show how the tariffs have the potential to hit companies on a number of fronts simultaneously. While the carmaker estimated the levies directly costing it ¥180bn (R22.6bn) in April and May, it said currency movement would be the biggest single impact on its full-year forecast, at ¥745bn (R93.45bn). Uncertainty around Trump's tariffs and their implication for global trade have weighed on the dollar. For Toyota, a weaker dollar means less profit when US earnings are brought home. CEO Koji Sato told a press conference details of the tariffs were largely unclear, adding to the difficulty in navigating them. 'Whether these tariffs are permanent and what will happen is not something we can decide,' Sato said.
