Latest news with #USD400
India.com
03-06-2025
- Automotive
- India.com
This company decides to fire 35000 employees, 20,000 agree to end…, no connection with Mukesh Ambani, Narayana Murthy, Noel Tata, Sundar Pichai, company is….
This company decides to fire 35000 employees, 20,000 agree to end…, no connection with Mukesh Ambani, Narayana Murthy, Noel Tata, Sundar Pichai, company is.... Automaker companies have also jumped into the massive layoff spree, with global automaker Volkswagen deciding to lay off as many as 35,000 employees in Germany by 2030. The significant job cuts are a part of the company's cost-cutting program amid the ongoing tariffs introduced by former United States President Donald Trump, looming over the German automotive industry, reported local news portal Bild. Notably, over 20,000 workers at Volkswagen have agreed to end their contracts early and take voluntary retirement. The reports cited a works council meeting at Volkswagen's Wolfsburg headquarters. The job cuts will be made at the German plants of the company. Volkswagen is focusing on performing reductions in an acceptable manner, with the employees agreeing to the terms. Volkswagen's Severance Package A German car manufacturer will provide severance payments to employees impacted by cost-cutting measures. The amount will vary depending on tenure, with potential payouts reaching USD400,000. While the total cost of these severance packages remains undisclosed, this information comes from a company staff meeting. Reduction In Apprenticeships To reduce costs, the German automaker will cut 1,400 apprenticeships to 600 annually, beginning in 2026. Combined with significant job reductions, these measures are projected to save the company approximately €1.5 billion annually in labour expenses. Apart from voluntary resignation, about 13 lakh employees in the company's core team are ready to accept the payment freeze. The automaker is also planning to give a five percent salary hike paid in two stages. Tariff Woes As per an earlier report by Reuters, which cited the Ifo Institute, the German automotive industry further impacted last month following a fall in the business climate index after Trump tariffs. 'The confusion surrounding the U.S. tariffs is causing problems for the automotive industry in Germany,' Reuters quoted Anita Woelfl, Ifo sector specialist. Facing weak European sales and intense foreign competition, Volkswagen, BMW, and Mercedes-Benz are negotiating with the US government to mitigate the effects of tariffs. Meanwhile, a recent report reveals declining business confidence in May 2025, with the business expectations index falling to -28.3 points from -25.2 points in April, and the business climate index dropping to -31.8 points from -30.7 points.
Express Tribune
10-05-2025
- Entertainment
- Express Tribune
Taylor Swift named in 'It Ends With Us' lawsuit
Taylor Swift has been subpoenaed by Justin Baldoni's legal team in the ongoing legal fray surrounding the film adaptation of It Ends With Us, dragging the global pop icon into an increasingly messy Hollywood dispute. As reported by Variety, the subpoena, issued earlier this week, stems from a series of text messages and meetings referenced in Baldoni's USD400 million defamation lawsuit against actor and producer Blake Lively. While Swift has not been named as a defendant, Baldoni's complaint references her presence at a 2023 meeting in Lively's New York penthouse, where she and Lively's husband Ryan Reynolds allegedly praised Lively's rewritten version of a key rooftop scene, implicitly pressuring Baldoni to approve it. In one cited message, Baldoni later texted Lively, "Makes it so much more fun and interesting. (And I would have felt that way without Ryan and Taylor)," suggesting he felt coerced during the encounter. His attorneys allege the moment exemplifies the power dynamics at play and supports the broader claim that Lively and Reynolds hijacked creative control of the film, later launching what he calls a "smear campaign" rooted in false accusations of misconduct. According to the suit, Lively compared herself to Khaleesi, the dragon queen from Game of Thrones, writing, "My dragons also protect those I fight for. You will, too, I can promise you," in what Baldoni's lawyers describe as veiled threats backed by celebrity influence. Swift's spokesperson firmly denied the singer had any meaningful involvement in the film. "Taylor Swift never consulted on casting, script changes, or direction," the spokesperson told Variety. "Her only contribution was licencing My Tears Ricochet for use in the film's trailer and one scene. She never saw an early cut and only watched the movie after its public release." The spokesperson dismissed the subpoena as a publicity stunt: "This is clearly an effort to use Taylor Swift's name to generate headlines and distract from the actual facts of the case." Still, the inclusion of Swift, whether incidental or strategic, adds a new layer of star power to an already high-profile legal drama that has spiralled since Lively filed a harassment complaint against Baldoni in December. Baldoni has since launched countersuits against Lively, Reynolds, and The New York Times, alleging defamation. The court has not yet ruled on Swift's subpoena, and her legal team is expected to file a motion to quash it in the coming days.
Zawya
06-02-2025
- Business
- Zawya
UAE DCM to thrive in 2025 on funding diversification; Major emerging markets issuer
Dubai / Jakarta / Toronto: Fitch Ratings anticipates a vibrant UAE debt capital market (DCM) in 2025, and for it to grow to USD400 billion over the next few years. This growth will be propelled by funding diversification, upcoming debt maturities, infrastructure financing, regulatory reforms, and the Dirham Monetary Framework (DMF) implantation. A favourable funding environment, with projected lower US Federal Reserve interest rates in 2025, and declining oil prices could further stimulate the diverse DCM. Nasdaq Dubai continues to be a key global listing venue for sukuk. "After surpassing USD300 billion and up just over 10% from last year, the UAE DCM is on track to reach USD400 billion, driven by strategic diversification and reforms," said Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings. "The UAE continues to be a key part of the global sukuk landscape, with 92% of its sukuk being investment-grade, nearly all of its sukuk issuers on Stable Outlooks. No defaults in 2024 highlight the market stability, supported by the evolving Dirham Monetary Framework and favourable funding conditions." The UAE was the third-largest dollar debt issuer in emerging markets (excluding China) and second-largest DCM among GCC countries in 2024. It is among the most developed DCMs within the Organisation of Islamic Cooperation (OIC) countries, and is a significant global sukuk issuer and investor. Sukuk made up 20.8% of dollar issuances in 2024, followed by ESG issuance (17.2%). The dirham's share of the DCM rose to 23% by end-2024 (2020: 0.5%). The UAE's consolidated debt is stable. We expect UAE banks to continue being key debt issuers and investors. However, challenges persist. The DCM investor base is concentrated in banks. Dirham issuance by corporates and banks are rare. Many large corporates are starting to issue debt, but the funding culture remains bank-focused. Sharia complexities, including AAOIFI Standard 62, pose risks for sukuk. Matt Pearson Senior Associate, Corporate Communications Fitch Group, 30 North Colonnade, London, E14 5GN E:
Mid East Info
05-02-2025
- Sport
- Mid East Info
Fujairah Mountain Shooting Championship: A premier destination for world-class sporting clays shooters
Participants in the second edition of the Fujairah Mountain Shooting Championship unanimously agreed that the competition is one of a kind, boasting a wide range of factors that appeal to the best sporting clays shooters from around the world. The Championship is currently taking place in the Wadi Ghub area of Dibba in Fujairah and is scheduled to conclude on Saturday, 8 February 2025. The Championship, set against the backdrop of stunning natural surroundings, offers picturesque vistas and breathtaking views of the mountains, complete with round-the-clock services and world-class facilities, as well as attractive cash rewards for the winners. Majed Al Mutairi, a Kuwaiti shooting champion, describes the championship as an enjoyable experience. He is particularly fascinated by Fujairah's natural beauty, one of the rarest and most beautiful terrains in the world, noting that the championship attracts the best shooters from around the world and boasts some of the most advanced performances in shooting sports globally. Al Mutairi feels that the championship has helped strengthen his shooting skills. He attributes this to the mountainous terrain where the championship takes place. 'The stunning backdrop and the world-class facilities that Fujairah offers to the participants are a positive influence and will surely help improve his performance in the upcoming competitions,' he adds. 'The organising committee chose the perfect location,' says Al Mutairi. 'The mountainous backdrop, he notes, helps shooters spot the targets and estimate the distances with precision. Al Mutairi says, 'This is a challenge, but it adds to the fun element of the championship. It is something that professional marksmen greatly enjoy.' This year, Al Mutairi is competing in the championship for the second time. He notes his excitement about future editions of the event, which has won worldwide acclaim, asserting that shooting champions from all around the globe highly regard this championship, calling it the best competition in the world. Meanwhile, Saeed Sultan Al Balooshi from the United Arab Emirates, stresses that the most distinctive feature of the championship is how it is organised atop a mountainous area, offering participants glorious views of nature. 'The competitors typically shoot in forests and green plains, which is very unlike Fujairah's terrain,' he says. Moreover, the prizes, including the USD400,000 grand prize, have attracted participants from the United States, Europe, and South America, he explains, hoping that the experience of the Fujairah Mountain Shooting Championship will be replicated in other competitions. Al Balooshi went on to explain that with more than 400 shooters participating, including some of the best in the world, the Championship has firmly established its reputation in the field. Given its high level of competitiveness and excitement, the Fujairah Mountain Shooting Championship is ranked among the top sporting events in the region and the main championship is set to officially begin on February 5. For his part, Simon Leibacher, who hails from Switzerland, attributes his decision to participate in the Championship for the first time to its good reputation and the success of its inaugural edition. He describes the location of the championship as wonderful and beautiful, noting that the mountainous terrain presents a significant challenge, especially since he is accustomed to shooting in green areas. 'This is my first visit to Fujairah, and I love the place and its beautiful natural surroundings,' says Leibacher. 'The way this event is organised is excellent, and I appreciate the arrangements made by the organisers. I hope to participate in the future editions of the championship.' Mubarak Al Mansoori from the United Arab Emirates is also participating for the first time and finds the experience to be highly enjoyable. 'The fun comes from the difficulty of the targets, the varied fields, the different elevations, and the fact that the Championship has managed to bring together the best shooters in the world,' he says, thanking the organisers for their efforts to ensure the success of the event before the official competitions begin.
