Latest news with #strategicPartnerships
Malay Mail
29-05-2025
- Business
- Malay Mail
Malaysia's teamwork, dedication key to successful hosting of 46th Asean Summit, says Anwar
PUTRAJAYA, May 29 — The outstanding efficiency, unwavering dedication, and seamless teamwork demonstrated by all parties involved were the main factors in Malaysia's success as the host of the 46th Asean Summit recently, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said everything went smoothly as a result of the extraordinary commitment from the government machinery, including the people who understood Malaysia's needs in organising the summit. 'I saw at all levels, our children, civil servants, all of them were great. From the airport, the parade, the police, immigration, MAHB (Malaysia Airports Holdings Bhd), the management at the hotel, the Foreign Ministry, which coordinated, to the Prime Minister's Department, which managed the protocol. 'I am also clueless about protocol, but I respect what the officers instructed the prime minister to do. I did as told (protocol), why? Because we are a country that has rules and works as a team,' he said in his address at the Prime Minister's Department monthly assembly here today. It was attended by both Deputy Prime Ministers, Datuk Seri Dr Ahmad Zahid Hamidi and Datuk Seri Fadillah Yusof. The 46th Asean Summit concluded on May 27 after a series of high-level meetings aimed at strengthening regional cooperation and strategic partnerships. During the two-day summit, Asean leaders participated in several important meetings, including the 2nd Asean-GCC Summit, the first Asean-GCC-China Summit, and the 16th Indonesia-Malaysia-Thailand (IMT-GT) Growth Triangle Summit. Anwar also touched on cooperation between Asean leaders in making collective decisions without compromising the interests of their respective countries. '... then we have to decide on an understanding in dealing with President Trump's (US President Donald Trump's) tariffs. Each country has its own strategy, which will involve bilateral relations. But we also want to protect the interests of the more than 650 million population of Asean countries. '... there is not a decision by Malaysia that is detrimental to another country, or by Vietnam (for example) that is detrimental to another country. We work as a team,' he said. Malaysia, as the Asean Chairmanship 2025 with the theme 'Inclusivity and Sustainability', hosted the 46th Asean Summit, marking the fifth time the country has held the chairmanship after 1977, 1997, 2005 and 2015. — Bernama
UAE Moments
23-05-2025
- Business
- UAE Moments
UAE President Visits Bahrain's King at His Abu Dhabi Home
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed King Hamad bin Isa Al Khalifa of Bahrain at his residence in Abu Dhabi, where the two leaders held talks aimed at strengthening cooperation between their nations. Join our FREE WhatsApp channel to dive into a world of real-time engagement! The meeting was marked by warm and brotherly discussions that reflected the deep-rooted relationship between the UAE and Bahrain. Both leaders spoke about the strong historical bond their countries share, as well as their mutual commitment to advancing growth, development, and long-term prosperity for their people. The talks focused on ways to enhance collaboration across various sectors, reaffirming the UAE and Bahrain's shared vision for regional stability and progress. Joining the meeting were His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Adviser to the UAE President; and a number of Sheikhs and senior officials from both sides. UAE President visits King of Bahrain at his residence in Abu Dhabi#WamNews — WAM English (@WAMNEWS_ENG) May 19, 2025 The visit highlights the ongoing efforts by the UAE and Bahrain to deepen strategic partnerships and maintain strong ties built on mutual respect and shared values.
Yahoo
19-05-2025
- Business
- Yahoo
Nagarro SE (NGRRF) Q1 2025 Earnings Call Highlights: Strong Financial Performance Amid Market ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nagarro SE (NGRRF) reported a revenue of 247 million and an adjusted EBITDA of 30.2 million, with a margin of 12.2%, indicating strong financial performance. The company has a high Net Promoter Score (NPS) of 69, reflecting strong customer satisfaction. Nagarro SE (NGRRF) is actively diversifying across industries and regions, reducing dependency on any single market or client. The company is pursuing strategic partnerships, such as with Siemens and Advantech, to drive growth and expand its market presence. Nagarro SE (NGRRF) is implementing capital allocation initiatives, including share buybacks and a proposed dividend, to enhance shareholder value. Deferred revenue increased to 5.5 million, which, if recognized, would have bolstered financial results. Negative currency effects, particularly from EUR/USD exchange rates, impacted adjusted EBITDA by 5 million. The horizontal tech sector remains under pressure, affecting certain segments of the business. The company faces challenges in increasing brand awareness in new markets like Saudi Arabia, where established brands dominate. Nagarro SE (NGRRF) has limited direct exposure to public expenditure in Germany, which could be a missed opportunity for growth. Warning! GuruFocus has detected 2 Warning Sign with NGRRF. Q: What is Nagarro's view on shifting towards a platform business model and developing more IPs? A: The respondent, an unidentified company representative, explained that while there is a trend towards building platforms for customized client-specific functionality, Nagarro remains flexible and client-focused. They are open to developing more IPs but do not expect this to significantly impact core dynamics in the immediate future. Q: Could you elaborate on Nagarro's market strategy in Saudi Arabia, especially in terms of brand awareness and competing with big brands like Oracle or Accenture? A: The company representative noted that while brand awareness is a work in progress, Nagarro is leveraging partnerships, such as with Siemens, to establish a presence. They aim to build networks and demonstrate better outcomes for clients, similar to their strategy in other regions. Q: Does Nagarro have a strategy in Germany to benefit from increased public spending under the new government? A: The representative acknowledged limited direct exposure to public expenditure in Germany but expressed interest in leveraging the German Mittelstand's economic force. They aim to supplement this sector's growth with their capabilities, though not entirely dependent on public spending. Q: What factors contributed to the recent margin decline, and was increased price competition a significant driver? A: The margin decline was primarily due to negative currency effects and increased deferred revenue, not price competition. The representative emphasized that the pricing context is competitive but not the main reason for the margin decline. Q: How competitive is the market currently, and what risks do you see to sustaining margins? A: The market remains competitive, but margins are not at risk from this. The representative highlighted that wage inflation, currency exchange rates, and client rates tend to balance each other out, maintaining margin stability. Q: How might tariffs affect the automotive sector, a key area for Nagarro? A: The representative expressed uncertainty about the impact of tariffs, noting the current lack of clarity. However, they remain hopeful for stabilization and believe the US economy's resilience will positively influence the automotive sector. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
