Latest news with #WorldHealthExpo
Yahoo
06-05-2025
- Business
- Yahoo
Philips cuts profit, sees $300M impact from tariffs
Philips (PHG) stock slid more than 4% in trading Tuesday despite a moderate first quarter earnings report. The company reported $4.7 billion in revenue, in line with Wall Street estimates. The company beat on adjusted earnings per share, reporting 28 cents per share versus consensus of 25 cents per share. Philips affirmed its 2025 sales guidance but cut profit in anticipation of a $280 million to $340 million impact from tariffs, CEO Roy Jakobs said Tuesday. The new estimated profit margin for the year is between 10.8% and 11.3%, compared to previous guidance of between 11.8% and 12.3%. "The announced tariffs have an impact. Not on sales, so we kept the sales guidance untouched, because of the strong demand that we have. But we do reflect potential impact of the tariffs into our profit and cash guidance," Jakobs told Yahoo Finance on Tuesday. Read more: The latest news and updates on Trump's tariffs The Dutch medical device maker is the latest to estimate tariff impacts, as medtech companies were not exempted from Trump's tariffs starting on April 2. The industry has been lobbying for a carve-out but has not been successful. And with "reciprocal" tariffs between the US and China in place, Philips, for which China is an important market, is being heavily impacted. The US currently has a 145% tariff on Chinese imports, and China has levied a 125% tariff on US goods. NYSE - Nasdaq Real Time Price • USD (PHG) View Quote Details 24.50 - (-4.44%) As of 12:43:30 PM EDT. Market Open. Advanced Chart Jakobs said he is "talking with all governments," including officials from the US and China, to reduce or eliminate the tariffs and their impact on business. But he does not want to preempt any moves, which is why the company guided down on profits for the year. It's also why the company is doubling down on its strategy to have supply chains localized for each of the markets — the US, Europe, and Asia — that it serves. "The medical technology supply chain is a complex one. It doesn't mean you can source all components from one country. Therefore, what we have been doing is bringing more of the components, more of the manufacturing, into these regions," Jakobs said. Medical equipment from United Imaging Healthcare Technology is displayed during the 2023 World Health Expo on April 7, 2023, in Wuhan, Hubei Province, China. Exhibitors included General Electric, Philips, and Siemens. (Getty Images) · Getty Images via Getty Images The company already has 46 sites in the US and recently announced a new cardiac device manufacturing site in Minnesota. Philips is "taking very stringent cost measures to also make sure that we don't have to offset this with prices increases to our customers," Jakobs said. He said the company's moves to regionalize its supply chain began a few years ago, during the pandemic, when it became evident there was a need to build resiliency against the types of supply chain interruptions in the early days of the pandemic.
Associated Press
09-04-2025
- Business
- Associated Press
Asia Health & Medlab Asia Rebrands to WHX and WHX Labs in Kuala Lumpur and Bangkok
KUALA LUMPUR, Malaysia, April 9, 2025 /PRNewswire/ -- The global event organisation leader Informa Markets revealed a major rebranding of its healthcare exhibitions portfolio which resulted in the formation of WHX (World Health Expo). WHX rebrands its healthcare events across Southeast Asia to WHX Kuala Lumpur, WHX Labs Kuala Lumpur, WHX Bangkok and WHX Labs Bangkok. Through this strategic shift WHX becomes a worldwide platform that drives innovation and collaboration and advances progress in healthcare and medical laboratory sectors. WHX Kuala Lumpur and WHX Labs Kuala Lumpur will take place from July 16 through 18, 2025, at The Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur has established a new standard for industry engagement. Through strategic partnerships with Malaysia External Trade Development Corporation (MATRADE) and Association of Malaysian Medical Industries (AMMI) alongside other prominent healthcare and laboratory associations this event has solidified its position as a key event in Southeast Asia's healthcare field. The WHX rebrand signifies Informa Markets' new direction in healthcare events worldwide and for Southeast Asia while demonstrating a progressive strategy to strengthen industry connections and promote knowledge sharing and innovative medical device and laboratory technology showcase. 'After successfully serving Southeast Asia for 11 years, the transformation of Asia Health & Medlab Asia into WHX and WHX Labs in both Kuala Lumpur and Bangkok represents an exciting new beginning.' said Ms. Rungphech (Rose) Chitanuwat, Regional Portfolio Director, ASEAN at Informa Markets. 'This transformation demonstrates our dedication to progressing the healthcare and medical device sectors along with medical laboratories throughout Southeast Asia and the broader Asian region. Through the powerful foundation established by Asia Health & Medlab Asia this fresh identity strengthens our promise to develop Southeast Asia's leading platform where healthcare experts join industry stakeholders, industry leaders and healthcare professionals to connect and innovate the region's future healthcare landscape.' Informa Markets has developed a single comprehensive event through WHX Kuala Lumpur and WHX Labs Kuala Lumpur to unite healthcare professionals with industry leaders and stakeholders who advance technology and discussions in healthcare and medical device sectors. Through this integrated platform attendees will experience direct access to new developments in medical equipment, diagnostics, digital health solutions and medical laboratory science which enables them to explore leading-edge innovations that transform healthcare delivery. Nicha Chamchumrus, Senior Event Manager of WHX Kuala Lumpur and WHX Lab Kuala Lumpur, added: 'WHX Kuala Lumpur and WHX Lab Kuala Lumpur will display world-class medical devices and medical laboratory technologies alongside creating essential partnerships that will propel healthcare innovations throughout Southeast Asia. Our conference program is undergoing extensive improvements to establish a strong platform for analyzing key industry challenges and opportunities. The conference will offer attendees in-depth explorations of essential subjects while featuring extensive interactive sessions and a diverse array of expert speakers to encourage meaningful discussions and develop practical solutions for Southeast Asia's healthcare future.' WHX Kuala Lumpur alongside WHX Labs Kuala Lumpur will establish a vital platform to create partnerships and tackle industry challenges while facilitating important discussions about healthcare delivery for Southeast Asia's swiftly changing healthcare sector.
Arabian Business
31-03-2025
- Business
- Arabian Business
DWTC Hospitality served almost 1 million guests in 2024
DWTC Hospitality, the hospitality division of Dubai World Trade Centre, reinforced its status as a premier hospitality services provider in 2024, serving nearly one million guests across more than 2,400 events. As an award-winning leader in large-scale and bespoke catering, it remained the preferred choice for private, corporate and government clients. From mega exhibitions and international conventions, corporate galas and hospitality events, to high-profile weddings and private events, DWTC Hospitality showcased its ability to deliver world-class hospitality services at scale, both at events hosted within DWTC's owned and managed venues – including Dubai Exhibition Centre (DEC) and Jafza One Convention Centre. DWTC Hospitality results Mahir Julfar, Executive Vice President at Dubai World Trade Centre, said: '2024 has been an outstanding year for DWTC's Hospitality division, reinforcing our pivotal role in Dubai's dynamic events landscape. 'Our culinary team continues to push boundaries with innovative, award-winning experiences, backed by exceptional service standards. 'From large-scale exhibitions and conferences to high-profile weddings and gala dinners, we remain committed to setting new benchmarks and delivering hospitality experiences that consistently surpass expectations' DWTC Hospitality demonstrated its operational excellence in 2024 by delivering world-class catering and hospitality to some of the region's most prestigious large-scale exhibitions and events, including Gulfood, World Health Expo (WHX) Dubai, Arabian Travel Market and GITEX Global. It also expanding its international presence at GITEX Africa. In addition to large-scale events the team catered to over 400,000 attendees to corporate and private events held at DWTC's venues. Its expertise in managing diverse events was particularly evident in the weddings segment, where it successfully catered to more than 150 wedding celebrations, serving more than 63,000 guests. Catering at conferences and associations maintained its upward trajectory, with the Hospitality division serving nearly 95,000 attendees, a 12 per cent increase from the previous year, reinforcing DWTC's strong standing in this sector. Key events, including the WCA Worldwide Conference, AWS MENA Summit 2024, and The International Congress of Endocrinology, among others, played a significant role in driving this growth. Jafza One Convention Centre (JOCC), operated by DWTC, witnessed exceptional growth, catering to over 25,000 attendees, more than doubling its numbers from the previous year with a 116 per cent increase. Similarly, the Dubai Exhibition Centre (DEC) played a pivotal role in DWTC Hospitality's success, catering to more than 73,000 attendees in 2024. These achievements further reinforce DWTC Hospitality's commitment to excellence and its growing influence across multiple venues. DWTC's Hospitality division catered to more than 145,000 guests to 1,105 external events in 2024, reflecting an impressive 37 per cent year-on-year growth. Key events included: Dubai International Boat Show Etihad Airways Abu Dhabi Grand Prix Dubai World Cup MEBAA Show (The Middle East and North Africa Business Aviation Association) To sustain this growth, operational capacity was strategically enhanced, allowing the team to cater to up to 40,000 guests per day while maintaining exceptional service standards. Julfar said: 'As we look to the future, our commitment remains steadfast in redefining industry standards and strengthening Dubai's position as a global leader in world-class hospitality and events of all scales. 'Through continuous innovation, strategic partnerships, and an unwavering dedication to service excellence, we are evolving to meet the ever-changing demands of the industry. 'Our ambition extends beyond delivering exceptional experiences – we are shaping the future of hospitality by integrating cutting-edge culinary creativity, operational excellence, and sustainable practices to set new benchmarks. 'Aligned with Dubai's vision for economic and tourism growth, we are poised to play an integral role in advancing the sector, ensuring our venues, services, and expertise continue to lead on the global stage'.
25-03-2025
- Business
DWTC Hospitality Division Achieves Strong Performance in 2024
DWTC Hospitality, the hospitality division of Dubai World Trade Centre, reinforced its status as a premier hospitality services provider in 2024, serving nearly one million guests across more than 2,400 events. As an award-winning leader in large-scale and bespoke catering, it remained the preferred choice for private, corporate and government clients. From mega exhibitions and international conventions, corporate galas and hospitality events, to high-profile weddings and private events, DWTC Hospitality showcased its ability to deliver world-class hospitality services at scale, both at events hosted within DWTC's owned and managed venues - including Dubai Exhibition Centre (DEC) and Jafza One Convention Centre - as well as hundreds of locations across the United Arab Emirates. Mahir Julfar, Executive Vice President at Dubai World Trade Centre, said: '2024 has been an outstanding year for DWTC's Hospitality division, reinforcing our pivotal role in Dubai's dynamic events landscape. Our culinary team continues to push boundaries with innovative, award-winning experiences, backed by exceptional service standards. From large-scale exhibitions and conferences to high-profile weddings and gala dinners, we remain committed to setting new benchmarks and delivering hospitality experiences that consistently surpass expectations' Another Landmark Year for Large-Scale Exhibitions & Corporate and Private Event Hospitality DWTC Hospitality demonstrated its operational excellence in 2024 by delivering world-class catering and hospitality to some of the region's most prestigious large-scale exhibitions and events, including Gulfood, World Health Expo (WHX) Dubai, Arabian Travel Market and GITEX Global, whilst also expanding its international presence at GITEX Africa. In addition to large-scale events the team catered to over 400,000 attendees to corporate and private events held at DWTC's venues. Its expertise in managing diverse events was particularly evident in the weddings segment, where it successfully catered to over 150 wedding celebrations, serving more than 63,000 guests. Continued Growth in Catering at Conferences and Associations Catering at conferences and associations maintained its upward trajectory, with the Hospitality division serving nearly 95,000 attendees, a 12% increase from the previous year, reinforcing DWTC's strong standing in this sector. Key events, including the WCA Worldwide Conference, AWS MENA Summit 2024, and The International Congress of Endocrinology, among others, played a significant role in driving this growth. Strong Performance Across DWTC-Operated Venues Jafza One Convention Centre (JOCC), operated by DWTC, witnessed exceptional growth, catering to over 25,000 attendees, more than doubling its numbers from the previous year with a 116% increase. Similarly, the Dubai Exhibition Centre (DEC) played a pivotal role in DWTC Hospitality's success, catering to over 73,000 attendees in 2024. These achievements further reinforce DWTC Hospitality's commitment to excellence and its growing influence across multiple venues. Surge in Off-site Catering DWTC's Hospitality division catered to over 145,000 guests to 1,105 external events in 2024, reflecting an impressive 37% year-on-year growth. Key events included the Dubai International Boat Show, Etihad Airways Abu Dhabi Grand Prix, Dubai World Cup, MEBAA Show (The Middle East and North Africa Business Aviation Association), and more. To sustain this growth, operational capacity was strategically enhanced, allowing the team to cater to up to 40,000 guests per day while maintaining exceptional service standards. 'As we look to the future, our commitment remains steadfast in redefining industry standards and strengthening Dubai's position as a global leader in world-class hospitality and events of all scales. Through continuous innovation, strategic partnerships, and an unwavering dedication to service excellence, we are evolving to meet the ever-changing demands of the industry. Our ambition extends beyond delivering exceptional experiences - we are shaping the future of hospitality by integrating cutting-edge culinary creativity, operational excellence, and sustainable practices to set new benchmarks. Aligned with Dubai's vision for economic and tourism growth, we are poised to play an integral role in advancing the sector, ensuring our venues, services, and expertise continue to lead on the global stage,' added Julfar. Follow Emirates 24|7 on Google News.
Khaleej Times
25-03-2025
- Business
- Khaleej Times
DWTC hospitality unit caters to nearly 1 million guests in 2024
DWTC Hospitality, the hospitality division of Dubai World Trade Centre, reinforced its status as a premier hospitality services provider in 2024, serving nearly one million guests across more than 2,400 events. As an award-winning leader in large-scale and bespoke catering, it remained the preferred choice for private, corporate and government clients. From mega exhibitions and international conventions, corporate galas and hospitality events, to high-profile weddings and private events, DWTC Hospitality showcased its ability to deliver world-class hospitality services at scale, both at events hosted within DWTC's owned and managed venues - including Dubai Exhibition Centre (DEC) and Jafza One Convention Centre - as well as hundreds of locations across the United Arab Emirates. Mahir Julfar, executive vice-president at Dubai World Trade Centre, said: '2024 has been an outstanding year for DWTC's Hospitality division, reinforcing our pivotal role in Dubai's dynamic events landscape. Our culinary team continues to push boundaries with innovative, award-winning experiences, backed by exceptional service standards. From large-scale exhibitions and conferences to high-profile weddings and gala dinners, we remain committed to setting new benchmarks and delivering hospitality experiences that consistently surpass expectations' DWTC Hospitality delivered world-class catering and hospitality to some of the region's most prestigious large-scale exhibitions and events, including Gulfood, World Health Expo (WHX) Dubai, Arabian Travel Market and Gitex Global, whilst also expanding its international presence at Gitex Africa. In addition to large-scale events, the team catered to over 400,000 attendees to corporate and private events held at DWTC's venues. Its expertise in managing diverse events was particularly evident in the weddings segment, where it successfully catered to over 150 wedding celebrations, serving more than 63,000 guests. Catering at conferences and associations maintained its upward trajectory, with the hospitality division serving nearly 95,000 attendees, a 12 per cent increase from the previous year, reinforcing DWTC's strong standing in this sector. Key events, including the WCA Worldwide Conference, AWS MENA Summit 2024, and The International Congress of Endocrinology, among others, played a significant role in driving this growth. Jafza One Convention Centre (JOCC), operated by DWTC, witnessed exceptional growth, catering to over 25,000 attendees, more than doubling its numbers from the previous year with a 116 per cent increase. Similarly, the Dubai Exhibition Centre (DEC) played a pivotal role in DWTC Hospitality's success, catering to over 73,000 attendees in 2024. These achievements further reinforce DWTC Hospitality's commitment to excellence and its growing influence across multiple venues. Surge in offsite catering DWTC's hospitality division catered to over 145,000 guests to 1,105 external events in 2024, reflecting an impressive 37 per cent year-on-year growth. Key events included the Dubai International Boat Show, the Abu Dhabi Grand Prix, Dubai World Cup, MEBAA Show (The Middle East and North Africa Business Aviation Association), and more. To sustain this growth, operational capacity was strategically enhanced, allowing the team to cater to up to 40,000 guests per day while maintaining exceptional service standards. 'As we look to the future, our commitment remains steadfast in redefining industry standards and strengthening Dubai's position as a global leader in world-class hospitality and events of all scales. Through continuous innovation, strategic partnerships, and an unwavering dedication to service excellence, we are evolving to meet the ever-changing demands of the industry. Our ambition extends beyond delivering exceptional experiences - we are shaping the future of hospitality by integrating cutting-edge culinary creativity, operational excellence, and sustainable practices to set new benchmarks. Aligned with Dubai's vision for economic and tourism growth, we are poised to play an integral role in advancing the sector, ensuring our venues, services, and expertise continue to lead on the global stage,' added Julfar.
