Latest News in Economics
Yahoo
12 minutes ago
- Business
- Yahoo
Jason Marine Group Full Year 2025 Earnings: EPS: S$0.007 (vs S$0.001 in FY 2024)
Revenue: S$48.6m (up 40% from FY 2024). Net income: S$777.0k (up by S$685.0k from FY 2024). Profit margin: 1.6% (up from 0.3% in FY 2024). The increase in margin was driven by higher revenue. EPS: S$0.007 (up from S$0.001 in FY 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Jason Marine Group shares are down 19% from a week ago. You still need to take note of risks, for example - Jason Marine Group has 3 warning signs (and 2 which can't be ignored) we think you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
Malaysia Sun
13 minutes ago
- Business
- Malaysia Sun
Vale Barry Pearton: Founder, Editor, Asia Today International
In the early 1980s, after witnessing opportunities in Asia, Barry Pearton saw a clear gap in Australia's media market. Without nothing but optimism, courage and a kitchen table as his office, he founded Asia Today International. With his wife, Florence as the editor, Barry brought news on the economic development of Asia to Corporate Australia, at a time when news on Asia was mainly event-driven and negative. The headlines then were about the murder of Australian journalists in East Timor, or the boatpeople from Vietnam. Such was the fodder of news reporting from Asia - much to the annoyance of some Asian governments, notably the sensitive Malaysian government who objected to the tone of reporting on the country. In a few short years, the newsletter format matured into a subscription magazine. Asia Today International became part of the reading library at many airline lounges in airports around Australia and Asian gateway cities. It was carried onboard by Asian airlines and a sprinkling of carriers on their Asian routes. But it was Qantas that provided a key distribution channel for the magazine. The magazine was also available to guests in the club floors of some of Asia's leading hotel chains. Barry was prescient in his observation of events in Asia and, indeed, the wider world. In its editorial, published in October 1997, he wrote: "In our 1994 Yearbook, ASIA'95, we said the latter half of the1990s would present relatively more risks in Asia than did the1980s - because Asian economies in the '80s were able to commit to development unencumbered by political constraint. "It is ironic," we said then, "that Australian unwittingly led the best decade of Asia go..." He tagged the 1995 Yearbook, ASIA '96, "a year of living cautiously". "1995 was the year of the Mexican crisis - and a year in which the yen appreciated markedly. We pointed to worrying trade gaps in some Asian countries as a consequence of strong foreign investment flows, and of widening trade deficits in Indonesia, Malaysia and South Korea," he wrote. The Asian Financial Crisis occurred in 1997 largely due to debt as a result of trade deficit. "In our 1996 Yearbook, ASIA'97, we noted the collapse of the electronics markets and its impact on Asia's export sector, The question challenging economic planners, particularly in Thailand and Indonesia, is whether this is a cyclical downturn or whether it implies a more deep-seated problem,' we said at the time." And so on. Barry was one of the wittiest headline writers there were in his generation. In one issue published in October 2009 he wrote: "Will G7 sink the good ship Recovery? The issue covered the aftermath of the global financial crisis and the counter- productive policy decisions of the developed economies. Barry's cover headline for the December/January 2019/20 issue was "Asia 2040 The Shape of Things to Come. Among the stories was the instability in Asia and the shift towards a bipolar world. And it asked: "US-China trade war: The new normal?" Although the magazine was originally conceived for Corporate Australia, its coverage was such that it was picked up by global subscription agencies such as Lexus Nexus, EBSCO and others. Over 38 years, and a bulging archive of more than a million words capturing the growing pains of Asia and celebrated Asia's economic success gave Barry a unique perspective of the region. Of all the countries where he worked, Hong Kong captured his heart. So, it was with deep sadness that he wrote "Breaking Hearts in the Streets of Sorrow" in the December 2019/January 2020 issue. These were his words: "Expect the unexpected. It is the timing, the sheer suddenness of the violence and civil disobedience, that is spooking business in trouble spots across the world today. Who, less than six months ago, could have foreseen the streets of flames, teargas, terror, bitterness and sorrow that epitomise Hong Kong today...." Barry's time in Hongkong was formative. Most importantly, he met and successfully wooed, to the envy of many colleagues, fellow journalist Florence. Among his various roles in Hongkong was as correspondent for the Melbourne Herald which took him to China to cover Gough Whitlam's ground-breaking trip there. Not known for his attachment to trade unionism, at least in Australia, he also served as Chairman of the Hong Kong Journalists Association. In that capacity he successfully the argued the case for proper compensation for the employees of the China Mail, a lively afternoon paper which was closed down with scant notice or severance pay by its rich owner, the South China Morning Post. Barry was also closely involved, with fellow Australian Jack Spackman, in the founding of the HK Press Club, a Wanchai meeting spot for local journalists then not allowed to join the Foreign Correspondents Club. After Hong Kong, Barry had a brief stint in London where he worked shifts at the now defunct News of the World and Construction News. Upon his return to Australia, Barry kept up with old friends from Hongkong, some of whom contributed to Asia Today International and was always open to a meal or a drink and share news, gossip and ideas, always good-humoured with those with whom he disagreed. In short, a good friend, an excellent journalist and -- let's not forget -- an entrepreneur. Barry was lived through the changes in journalism moving from hot metal printing that he experienced working for the Herald Sun in Melbourne and later in the South China Post in Hong Kong to digital production. He found it hard to reconcile with the changes that journalism has undergone with the advent of the Internet and social media. He could not understand how young journalists could consider what was published on social media as a source for a story. For him it is all about the footwork, about the face-to-face interviews and not just one but multiple to double-check and triple-check facts. His style was pedantic, and some would say old school. For him every comma must be in the right place, and grammar must be impeccable. He was always with a red pen ready to correct copies submitted by his correspondents. Asia Today International consumed the last 40 years of his life. It was a labour of love and source of great pride. Barry was born on December 31, 1944, at Colac a small Victorian town. He went to at least a dozen schools as his father, an executive of what was then GJ Coles, the forerunner of Coles Supermarket chain, was transferred from city to city to open new stories. When not subbing and producing his magazine or talking politics with his friends Barry could be found immersed in the latest spy novels. He loved conspiracy theories and delighted to identify landmarks that he had read about in books during his travels whether it is the Dome in Paris (in Dan Brown's novel The Da Vinci Code) or the endless mention of Foggy Bottom and Pentagon in a huge array of other novels about the CIA agents. Barry passed away peacefully with his wife, Florence, by his side on March 15,2025. He will be deeply missed by all those who know him. Source: Asia Today International
Indian Express
13 minutes ago
- Business
- Indian Express
Poverty fell significantly last year. Much of it was driven by GDP growth
The Household Consumption Expenditure Survey for 2022-23 and the 2023-24 reports by the National Statistics Office (NSO) enable us to arrive at estimates of poverty and inequality for recent years. Several researchers have drawn up estimates using the 2022-23 survey. Very few have, however, used the 2023-24 survey. We look at trends in head count ratio, the depth of poverty and trends in inequality from 2011-12 to 2023-24. The poverty lines (monthly per capita consumption expenditure) based on the methodology of the Rangarajan Committee for rural areas are Rs 972 in 2011-12, Rs. 1,837 in 2022-23 and Rs 1,940 in 2023-24. The poverty lines for urban areas are Rs1,407 in 2011-12, Rs 2,603 in 2022-23 and Rs 2,736 in 2023-24. In other words, for a family of five living in an urban area, the poverty line in 2023-24 will be Rs 13,680. The estimated total (rural and urban) poverty ratios declined from 29.5 per cent in 2011-12 to 9.5 per cent in 2022-23 and to 4.9 per cent in 2023-24. Poverty declined significantly between 2011-12 and 2023-24 (2.05 percentage points per annum), though the rate of decline was slightly less compared to the period 2004-05 to 2011-12 (2.2 percentage points per annum). The World Bank recently released a Poverty & Equity Brief for over 100 developing countries. It says India has significantly reduced poverty over the past decade. Extreme poverty (living on less than $2.15 per day in purchasing power parity terms) declined from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23 — more than 170 million were lifted above conditions of extreme poverty in this period. The number of people below the poverty line criteria for lower-middle-income countries — $3.65 per day — fell from 61.8 per cent to 28.1 per cent. Poverty declined significantly between 2022-23 to 2023-24. In a year, it fell from 9.5 per cent to 4.9 per cent. What can this achievement be attributed to? Poverty is determined by factors such as GDP growth, prices and safety nets. GDP growth increased from 7.6 per cent in 2022-23 to 9.2 per cent in 2023-24 — an increase of 1.6 percentage points in one year. The consumer price index (CPI) declined from 6.7 per cent in 2022-23 to 5.4 per cent in 2023-24 — a decline of 1.3 percentage points. However, food inflation increased from 6.6 per cent to 7.5 per cent during the same period. There does not seem to be significant changes in welfare programmes that make up the safety next. It appears, therefore, that GDP growth could be a proximate reason for the decline in poverty in 2023-24 as compared to that of 2022-23. However, we need to exercise caution before coming to a definite conclusion, based on a year of steep change. Another survey could confirm if this is a trend. We also examine the depth of poverty for India by looking at poverty ratios using different cut-offs of the poverty line (PL) for the period 2011-12 to 2023-24. The first issue is whether the poverty ratios with raised poverty line cut-offs are declining as fast as those with the actual poverty line. The second is about the location of the poor — are they placed much below the poverty line or around the poverty line? The poverty ratio (rural and urban) declined by 20 percentage points between 2011-12 and 2022-23 and by 24.6 percentage points between 2011-12 and 2023-24. Even if we raise the poverty line to 125 per cent, the reduction in poverty ratio is 28.4 percentage points between 2011-12 to 2022-23 and 34.2 percentage points between 2011-12 and 2023-24 (Table 1). Higher reduction is also true for the poverty ratio based on 115 per cent and 150 per cent of poverty line. The head count ratio is criticised on the ground that it does not measure the 'depth' of poverty. It is seen, however, that more than 50 per cent of the poor lie between the third and fourth quarter of the poverty line. This is true for both the years — 2011-12 and 2022-23. In fact, in 2022-23, 56 per cent of the rural poor and total poor fall in this segment. In a similar vein, a large section of the non-poor are just above the poverty line — between 115 and 125 per cent of this yardstick. Inequality in consumption also declined during the period 2011-12 to 2022-23 and from 2022-23 to 2023-24. The Gini coefficient estimated by the National Statistical office shows that inequality fell from 0.310 in 2011-12 to 0.282 in 2022-23. The decline in inequality was higher for urban areas. However, it is surprising to see that inequality in consumption declined significantly in one year — 2022-23 to 2023-24. The Gini coefficient fell from 0.282 in 2022-23 to 0.253 points — a decline of 0.029 points. On the other hand, the decline during the 11 year period 2011-12 to 2022-23 is almost similar — 0.028 points. One has to examine the significant decline in inequality in one year between 2022-23 and 2023-24. To conclude, there has been a significant decline in poverty. The poverty ratio is now in single digits. The overall inequality in consumption expenditure has come down a bit. Significant decline in poverty in one year between 2022-23 and 2023-24 needs further confirmation. Our analysis shows that most of the poor are concentrated around the poverty line — this makes poverty more manageable. Rangarajan is Former Chairman, Economic Advisory Council to the Prime Minister and Former Governor, Reserve Bank of India. Dev is Chairman, Institute for Development Studies, Andhra Pradesh and Former Vice Chancellor, IGIDR, Mumbai
Indian Express
13 minutes ago
- Business
- Indian Express
For IMF and World Bank, on Pakistan, a query
As tensions between India and Pakistan escalated, attention moved to the ways in which multilateral agencies (such as the IMF) wanted to be economic saviours for a near rogue nation — this, despite warnings that good money might actually be chasing bad money in a vicious loop. With the World Bank reiterating that it will provide $20 billion over the next 10 years to Pakistan, followed by the IMF's largesse to Islamabad, these multilateral agencies need to introspect about the need and justification for such aid. In fact, the track record of these Bretton Woods twins, which came into being after the Great Depression of the 1930s and World War II, in truly helping countries weather economic storms and meet developmental goals remains somewhat questionable. Our neighbour's current borrowings from the IMF stand at close to $8.5 billion (Special Drawing Rights of $6.3 billion) — around 35 per cent of this has been in recent years. There is now a real risk of the fresh borrowings from the World Bank (or at least a part of it) being used to repay the existing debt — this is similar to many Ponzi schemes. The beauty of a Ponzi scheme lies in its being too good to be true when the going is smooth. In principle, the IMF's Extended Fund Facility (EFF) provides financial assistance to countries facing serious medium-term balance of payments problems — it helps them address and implement structural reforms. The World Bank's lending targets seemingly philanthropic causes — from education and child nutrition to climate resilience. Inter alia, the surveillance and monitoring mechanism devised by the benevolent lenders, who need to account for and explain the spending of each dollar to wider stakeholders globally, needs to be in lockstep. However, the data supplied by the countries receiving such assistance rarely undergoes rigorous scrutiny — either at these hallowed agencies or through credible third parties. This undermines transparency. Pakistan's FCF (Federal Consolidated Fund) maintained with the country's State Bank, is, at face value, akin to any such fund held by federal governments in most parts of the world. Established under Article 78(1) of Pakistan's constitution, the fund is defined by its preamble as all revenues received by the federal government, all loans raised by that government, and all money received by it for the repayment of any loan. However, under Article 82 of Pakistan's constitution, the lower house of the country's parliament can only discuss the FCF — it has no voting rights. In contrast, India mandates that withdrawals from the Consolidated Fund of India should have parliamentary approval — this ensures transparency and accountability, apart from due diligence through an independent CAG audit. The lack of transparency in Pakistan raises larger questions on the end usage of the funds and the IMF/WB's willingness to walk the extra mile as prudent lenders. The issue, however, moves beyond transparency and accountability when seen from a governance perspective. In FY 2024-25, Pakistan allocated nearly $10 billion for defence spending, marking an 18 per cent jump over the previous year. Despite a weak economy, the country features regularly among the top arms-importing countries year after year. Ironically, while its per capita income has fallen ($1,459 in 2023 from $1,653 in 2018, according to the IMF), Pakistan's per capita defence spending stands at a whopping $41 in 2024. (In case of India, it is $60 while its defence budget was more than $86 billion in 2024 as per SIPRI data). To cut a long story short, the question is whether the loans (or grants) provided by these agencies are helping Pakistan, explicitly or implicitly, in spending disproportionately large amounts on defence procurements that ensure the nourishment of an overarching military regime, and strengthen its nefarious connection with corruption — the average citizen is a sufferer. The withdrawal of excess funds for defence could be camouflaged from the Consolidated Fund in the guise of ticking the box of some worthy cause (because the fund has little oversight from democratic mechanisms). Given the state of Pakistan's economy, World Bank data showing that defence spending is 3.5 per cent of the country's GDP look like fudging of the balance sheet. Even as India lodges strong protests over the end use of such aid, with the very real possibility of the misuse of debt financing as funds for cross-border terrorism, one is reminded of Pakistan being given a clean chit by the FATF in 2022 — this facilitated its transition out of the 'grey list'. Oddly enough, the FATF had then emphasised that Pakistan was taken off the list in the wake of Islamabad's 'high-level political commitment' to reform its existing monitoring mechanism. The FATF needs to heed India's warnings — cautioning the world to ensure that Pakistan must continue to take 'credible, verifiable and irreversible' action against terrorism. It could use this warning as a roadmap in alignment with the protocols of the Asia Pacific Group on Money Laundering, of which Pakistan is a member. Two issues need specific attention. First, democratic nations need to shed the moral dilemma they have in removing restraints against a nation that pledged to eat bread made of grass in order to become a full nuclear state, while also diverting funds to run a deep state-sponsored proxy war. Second, the proliferation of unrestricted economic terrorism is a matter of grave concern. Pakistan could be using the assistance provided by these agencies to create an Iraq-like situation. In other words, there is an urgent need for strict collaborative international supervision of its stockpiles as clandestine nuclear black markets thrive globally, posing a risk to world peace and security. The threats have multiplied with the elevation of Asim Munir as Field Marshal — signalling the increased probability of the beleaguered nation going back to military dictatorship. A word of caution for those who grossly fail to read between the lines dictating India's new normal: The honour of the country is no longer subjugated by the terms of trade. The writer is member, 16th Finance Commission and group chief economic advisor, State Bank of India. Views are personal
Indian Express
13 minutes ago
- Business
- Indian Express
New data raises concerns over India as an investment destination. Trade pacts can offer a solution
In 2024-25, foreign direct investment (gross) into India stood at $81 billion. But net FDI — essentially the difference between direct investment to and that by India — fell to just $353 million, down from $10.1 billion in the previous year. The reasons for this stunning collapse can be traced to an increase in investments by Indian firms abroad and greater repatriation/disinvestment by foreign firms from the country. Coming at a time of subdued domestic private investments, and when the country is trying to emerge as an attractive destination for firms moving operations out of China and integrate itself to a greater extent in global supply chains, this fall raises questions. Are both domestic and foreign firms finding more attractive investment opportunities in jurisdictions other than India? Do other countries offer a more favourable risk-return ratio? This deserves closer attention. The finance ministry has taken note of this trend and voiced its concern. In its most recent monthly economic review, the ministry says that increasing investment by Indian firms abroad 'even as uncertainty reigned in the world, warrants attention, especially given their cautious attitude towards domestic investment'. And while it also notes that gross FDI inflows have 'remained broadly stable', not only are flows lower than in 2021-22, but over the past few years, FDI (net inflows as a percentage of GDP) has remained well below recent highs as per data from the World Bank. Surprisingly, though, the RBI appears to be more sanguine about these trends. In its monthly bulletin, the Bank says that the moderation in net FDI, which reflects a rise in net outward FDI and repatriation FDI, 'is a sign of a mature market where foreign investors can enter and exit smoothly, which reflects positively on the Indian economy'. Compared to India, UBS says that the 'ASEAN 6's FDI dynamics are robust' based on the first three quarters of 2024, and McKinsey has recently noted that most Southeast Asian economies are 'seeing higher FDI in the fourth quarter' than in previous quarters. As these countries are India's competitors in the China+1 play, these trends call for policy intervention at multiple levels to address the issues/impediments that are holding back investments from both domestic and foreign firms. The near-term outlook for investments remains muddied as both firms and households face uncertainty due to US President Donald Trump's tariffs . The finance ministry's monthly review also notes that private sector capex 'could lag behind, with firms adopting a more cautious stance amid global uncertainty'. However, a successful conclusion of the ongoing trade talks with the US and the EU could have a positive impact on investments and exports. After all, investment is more likely to flow to regions with broader and deeper trade agreements. The finance ministry also notes that 'a successful US-India trade agreement could flip current headwinds into tailwinds, opening up new market access and energising exports'. The government must press ahead with these trade deals.
