Latest news with #Yen
The Star
19 hours ago
- Business
- The Star
Cambodia's two largest state-owned ports disclose net profits in Q1
PHNOM PENH, May 28 (Xinhua) -- Cambodia's two listed state-owned ports, Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP), disclosed their net profits in the first quarter (Q1) of 2025, according to their financial reports on Wednesday (May 28). The PAS, the kingdom's largest deepwater seaport, made a net profit of 2.62 million U.S. dollars during the January-March period this year, down 68 per cent compared to the same period last year, said the report filed to the Cambodia Securities Exchange (CSX). "There was an increase of unrealized foreign exchange loss from the Japanese Yen, which led to a decrease in net profit if compared to Q1 of 2024," the report said. Meanwhile, the PPAP, which is the country's second-largest container hub, recorded a net profit of 3.6 million dollars in Q1 of 2025, up 134 percent compared to Q1 of 2024. "The above achievement is because the PPAP has paid attention in providing the service of port operation with transparency and efficiency in responding confidently to the needs of customers," PPAP's Chairman and Chief Executive Officer Hei Bavy said in the report. - Xinhua
Time of India
3 days ago
- Business
- Time of India
US crushes study abroad dreams. This Asian superpower rushes to pick up the pieces
In a major escalation of tensions between the Trump administration and elite academic institutions, the U.S. government in May 2025 revoked Harvard University's authority to enroll international students. This move is part of a wider strategy to intensify scrutiny of foreign students and penalize universities deemed non-compliant with federal policies. The Department of Homeland Security cited irregularities in Harvard's international admissions processes, sparking legal action from the university and widespread concern in the academic community. ALSO READ: Yen for Japan: How Japanese culture is finding a new home in India This unprecedented action has disrupted the academic journey of more than 6,800 international students. Those currently enrolled or preparing to start their studies now face visa uncertainty, potential deportation, and disruption to their education. Universities across the U.S. are still working to understand the broader consequences, while affected students remain stuck in legal and administrative limbo. ALSO READ: Mass destruction for Japan? Tourists cancel plans after a psychic's 'real catastrophe' warning (Join our ETNRI WhatsApp channel for all the latest updates) Asia Responds with Open Arms In response to the U.S. visa restrictions, countries in Asia are taking proactive steps to support displaced students. Hong Kong's Secretary for Education, Christine Choi, recently encouraged local universities to welcome international talent. In tandem, Hong Kong has introduced new policies allowing full-time international undergraduates to take part-time jobs without restrictions—an effort to improve their career prospects and retain global talent after graduation. Live Events ALSO READ: Harvard's ability to enrol international students halted by Trump administration Following Hong Kong's lead, Japan has also taken significant steps to assist international students impacted by the U.S. policy shift. Japan's Universities Step Up Japan's Ministry of Education, led by Minister Toshiko Abe, has officially urged domestic universities to explore ways to admit students affected by the situation in the United States. The focus is on maintaining academic continuity for those who were forced to abandon or pause their studies in American institutions. Two of Japan's most prestigious universities—the University of Tokyo and Kyoto University—have already begun responding. University of Tokyo Ranked 32nd in the QS World University Rankings 2025, the University of Tokyo is considering temporary enrollment options for displaced students. University officials have confirmed that visa assistance and academic support measures are being developed to help affected students adjust smoothly. Kyoto University Kyoto University, a leading institution in Asia, is planning to host young researchers who have been impacted by the U.S. visa clampdown. Its International Undergraduate Program (iUP), which does not require prior Japanese language skills, offers financial aid including tuition waivers and monthly stipends. The 4.5-year program includes a six-month preparatory phase and is tailored to attract international students. Asia Emerges as a Global Education Destination These developments signal a broader shift in global academic trends. With high-quality education, inclusive policies, and a growing international presence, Asian universities are becoming increasingly attractive to global students—especially those reevaluating their U.S. education plans. Programs such as Japan's Global 30 and Top Global University Project are designed to increase international student intake and global engagement. Amid changing political dynamics, Asia's supportive stance may redefine the global study-abroad landscape and position the region as a leading destination for higher education. (With TOI inputs)
The Irish Sun
3 days ago
- Automotive
- The Irish Sun
Major car firm ‘discontinuing cheapest model & halting pay rises' – weeks after axing 20,000 jobs and £4bn losses
A MAJOR car firm is reportedly discontinuing its cheapest model and halting pay rises just weeks after announcing £4billion in losses. The struggling car maker had announced plans to due to soaring production costs and disappointing sales. 2 The Japanese automaker has been struggling financially recently Credit: Getty 2 Cost-cutting measures will already see thousands of job losses with multiple factory closures Credit: AFP Cash-strapped Nissan , Japan's third-largest carmaker, is already facing billions in losses - its worst annual loss in a quarter century. Nissan is Now, the company has started offering buyouts to US workers and has suspended merit-based wage increases worldwide, reports Reuters. As part of the cuts, Nissan has offered separation packages to workers at its Canton plant in Mississippi. Read More in Motors Salaried workers in human resources, planning, information technology and finance have also been offered similar packages. Merit-based pay increases have also been suspended worldwide by Nissan for the current business year, in a separate email seen by Reuters. Christian Meunier, Nissan America's chairman, said the buyouts are 'crucial for Nissan's comeback' in the US, its most important market. 'While substantial efforts have been made in the US to help right-size Nissan, we need to take additional, limited, strategic action here at a local level,' Meunier said in an email. Most read in Motors And Nissan has also discontinued its cheapest model, the manual-equipped Versa, according to reports. The Japanese automaker halted making the Versa with the five-speed manual at its Aguascalientes, Mexico, factory, according to The publication stated that a "person with knowledge of the matter" revealed that the most affordable new car on the market would see "production cease". It is understood that the rest of the Versa lineup will continue as usual but this is yet another huge blow to the carmaker. Japanese giant unveils its new bargain EV with quirky 'bug eye' headlights It comes after reports the manufacturer is planning to cut its number of factories from 17 down to 10. This has prompted fears that the brand's Sunderland factory could be under threat. While Nissan has not confirmed the fate of its only UK factory, its CEO Ivan Espinosa has insisted that It is hoped that the £1billion loan from The huge cash injection is just a fifth of the 1Trillion Yen needed by the company to survive. It will also look to issue as much as 630billion yen in convertible securities and bonds, including high-yield and euro notes. Reportedly, the firm is looking to Finally, the struggling car manufacturer is eyeing a sale of its stakes in Renault and battery maker AESC Group. The aggressive fundraising plans underscore Nissan's rapidly deteriorating financial and operational position, despite efforts by newly appointed chief executive Ivan Espinosa to turn the company around. Development on other Work on all 'advanced and post-FY26 product activities' has been paused, though Nissan has not confirmed which particular vehicles will face suspension.
The Star
3 days ago
- The Star
Driver who robbed to pay off loan shark debts pleads guilty
MELAKA: A 29-year-old e-hailing driver who reportedly resorted to crime to pay off his girlfriend's debts has pleaded guilty to robbing and injuring a senior citizen here. Melvin Yen Wei Shern, 29, admitted to the offences when the charges were read to him before Sessions judge Rohatul Akmar Abdullah in Ayer Keroh on Friday (May 30). According to the charge sheet, the offences were committed at a goldsmith's shop in Kampung Jawa, Melaka Tengah district, at about 11am on May 22. He was charged with robbing and intentionally causing hurt to Koh Kim Lye, 70, under Section 394 of the Penal Code. The offence carries a maximum jail term of 20 years with a fine or caning upon conviction. DPP Wardah Ishhar urged the court to set bail at RM20,000, to which Yen's lawyer Kent Tan Chow Teng did not object. The court then fixed June 10 for sentencing. When met after the proceedings, Tan said his client's family declined to post bail as they wanted him to learn his lesson. He said a relative informed him that Yen was trying to settle a debt of about RM200,000, which his girlfriend was said to owe to three illegal moneylenders in another state. Follow us on our official WhatsApp channel for breaking news alerts and key updates!
The Irish Sun
4 days ago
- Automotive
- The Irish Sun
Iconic carmaker thrown £1BILLION lifeline after axing 20k staff as fears grow over future of UK's biggest motor factory
AN ICONIC carmaker has been thrown a £1billion lifeline from the UK Government. The struggling car maker had announced plans to 2 An iconic carmaker is on an urgent mission to save £5 billion Credit: Getty 2 Over 20,000 jobs could be cut as part of the brand's bid to save cash Credit: AFP Nissan is The manufacturer is planning to cut its number of factories from 17 down to 10. This has prompted fears that the brand's Sunderland factory could be under threat. While Nissan has not confirmed the fate of its only UK factory, its CEO Ivan Espinosa has insisted that Read More on Car News It is hoped that the £1billion loan from The huge cash injection is just a fifth of the 1Trillion Yen needed by the company to survive. It will also look to issue as much as 630billion yen in convertible securities and bonds, including high-yield and euro notes. Reportedly, the firm is looking to Most read in Motors The Yokohama site is valued at £500 million and was first opened in 2009. It has 22 floors and a glitzy gallery, along with thousands of workers who use the site every day. Japanese giant unveils its new bargain EV with quirky 'bug eye' headlights Finally, the struggling car manufacturer is eyeing a sale of its stakes in Renault and battery maker AESC Group. He said: 'In the face of challenging full-year 2024 performance and rising variable costs compounded by an uncertain environment, we must prioritise self-improvement with greater urgency and speed, aiming for profitability that relies less on volume." He added: 'As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery.' Development on some Work on all 'advanced and post-FY26 product activities' has been paused, though Nissan has not confirmed which particular vehicles will face suspension. Mr Espinosa has previously issued a full statement about Nissan's financial woes. He said: "This is not something that happened in the last couple of years. "It's more of a fundamental problem that probably started back in 2015, when management thought this company could reach [annual global vehicle sales] of around eight million. "There were heavy investments both in terms of planned capacity as well as in human resources, but the reality today is we are running at around half that volume. And nobody did anything to fix that until now.'
