Latest news with #industry
Zawya
an hour ago
- Business
- Zawya
AD Ports Group expands network of international offices with first office in China
AD Ports Group, a leading enabler of global trade, logistics, and industry, officially launched its first International Office in China, marking a major milestone in its global expansion strategy. Located at the centre of China's policymaking and planning, the new office will lead and coordinate the Group's commercial and investment activities across the country and the broader Asia region. Complementing the Group's network of more than 140 offices worldwide, the new international office in China was officially opened by Samir Chaturvedi, Chief International Business Officer - AD Ports Group and CEO of Noatum Logistics; Abdulaziz Zayed Al-Shamsi, Regional CEO - AD Ports Group; Ellie Hioe, General Manager of Noatum Logistics – Greater China. By establishing a presence in China's capital, the office will enable closer engagement with key government stakeholders, strategic partners, clients and investors, and help the Group align with the nation's development priorities and respond swiftly to emerging trade and logistics opportunities. From the same location, Noatum Logistics, the logistics arm for the Group, will also operate its new commercial branch for the Beijing-Tianjin region, a key domestic market with combined population of over 110 million. Specifically, the office will play a key role in advancing the Group's presence domestically and along China's Belt and Road network, which includes maritime routes linking Asia, Africa, and Europe, and multimodal overland corridors connecting markets across China, Central Asia, the Middle East and Europe. It will also serve as a vital platform to connect potential clients and investors into AD Ports Group's integrated global trade and logistics ecosystem, while coordinating investments, fostering new business ventures, and facilitating capital inflows from Chinese investors into the UAE. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, 'As the world's largest exporter and driver of supply chain development, China is actively reshaping international trade. AD Ports Group shares China's vision for greater cross border integration, and through our newly established Beijing office, we will work closely with our Chinese partners to support the expansion of key local, regional and international trade corridors and deliver cutting edge shipping, infrastructure, and logistics solutions. We look forward to furthering our mutual investment flows and unlocking lasting value for our customers, investors and communities, creating a more connected, resilient and prosperous future for all.' As part of its China growth strategy, the Group will be expanding Noatum Logistics in-country capacities to offer a full suite of holistic end-to-end logistics solutions tailored specifically to the needs of China's own rapidly expanding domestic market, whose GDP is expected to grow at CAGR 3.5% through 2030. With its logistics market projected to rise at a 4.6% CAGR through 2030, the Group aims to become a major logistics player serving China's key industry sectors across every link of their supply chain.
Yahoo
5 hours ago
- Business
- Yahoo
Dow slashes dividend, reports bigger-than-expected loss; shares fall
(Reuters) -Dow Inc (DOW) reported a bigger-than-expected quarterly loss on Thursday and halved its dividend amid a prolonged industry downturn, sending shares of the chemicals maker down over 7% in premarket trading. Global chemical companies are feeling the pressure to reassess strategies, with higher production costs in the Euro region, lackluster demand and stringent environmental regulations. Quarterly net sales from Dow's packaging and specialty plastics segment, its largest by revenue, fell 8.9% to $5.03 billion from a year earlier. The Michigan-based company reported an adjusted loss of 42 cents per share for the second quarter ended June 30, compared with analysts' average estimate of a loss of 17 cents per share, according to data compiled by LSEG. Dow declared a quarterly dividend of 35 cents per share. Error 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
Reuters
6 hours ago
- Business
- Reuters
Dow slashes dividend, reports bigger-than-expected loss
July 24 (Reuters) - Dow Inc (DOW.N), opens new tab reported a bigger-than-expected quarterly loss on Thursday and halved its dividend amid a prolonged industry downturn, sending shares of the chemicals maker down over 7% in premarket trading. Global chemical companies are feeling the pressure to reassess strategies, with higher production costs in the Euro region, lackluster demand and stringent environmental regulations. Quarterly net sales from Dow's packaging and specialty plastics segment, its largest by revenue, fell 8.9% to $5.03 billion from a year earlier. The Michigan-based company reported an adjusted loss of 42 cents per share for the second quarter ended June 30, compared with analysts' average estimate of a loss of 17 cents per share, according to data compiled by LSEG. Dow declared a quarterly dividend of 35 cents per share.
Yahoo
9 hours ago
- Business
- Yahoo
Roche in talks with Washington on selling drugs directly to patients
Roche is in talks with the US government to cut out the pharmaceutical industry's intermediaries and sell medicines directly to patients, Error 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
Yahoo
13 hours ago
- Business
- Yahoo
Luxury brands ease off on price rises as shoppers push back
Top luxury brands have increased prices at the slowest pace since 2019 this year as the industry adapts to a longer-than-expected downturn
