Latest news with #TGR
Morocco World
5 days ago
- Business
- Morocco World
Morocco's Customs Revenue Sees Strong Growth in During First Seven Months of 2025
Rabat — Morocco's customs revenue climbed steadily during the first seven months of 2025, reaching MAD 54.79 billion ($6.09 billion) and marking a 5.8% increase from the same period last year, according to the figures from Treasury General of the Kingdom (TGR). The TGR's data show how import taxes continue to strengthen the country's budget despite global economic uncertainty. The government collected this revenue mainly through customs duties, import VAT, and domestic consumption tax on energy products. Officials deducted MAD 58 million ($6.44 million) for refunds, tax relief, and fiscal restitutions from the total. Customs duties generated MAD 9.19 billion ($1.02 billion), growing 1.1% compared to July 2024. This moderate increase reflects stable import flows for taxed goods, even as trade agreements and international competition create challenges. Import VAT, which serves as the largest source of customs revenue, reached MAD 34.27 billion ($3.80 billion) with a 4.5% increase. This growth demonstrates strong import activity, particularly for consumer goods and equipment. The domestic consumption tax on energy products posted the strongest performance, generating MAD 11.31 billion ($1.25 billion) despite MAD 39 million ($4.33 million) in refunds and tax relief. This represents a 14.2% year-over-year jump, driven by higher energy consumption and fluctuating global oil and fuel prices. Gross customs revenue totaled MAD 54.84 billion ($6.09 billion), up 5.7% from July 2024. The small difference between gross and net figures reflects government refunds and tax exemptions. These results signal how import taxes significantly contribute to funding public policies and strengthening Morocco's budget resources. The steady growth shows the resilience of fiscal revenue from foreign trade, providing the government with essential funds for public spending and development programs. The customs revenue growth comes at a crucial time when Morocco continues investing in infrastructure projects and social programs while managing global economic pressures. Import taxes remain a vital component of the country's fiscal strategy, helping maintain government operations and fund key initiatives across various sectors. Tags: Customs revenuesMoroccan Customs RevenuesTGR
Arab Times
09-08-2025
- Automotive
- Arab Times
TOYOTA GAZOO Racing achieves historic Rally Estonia victory
TALLINN, Aug 9: TOYOTA GAZOO Racing World Rally Team (TGR-WRT) returned to the top of the podium at Rally Estonia, powered by a sensational debut performance from Oliver Solberg. Manning the No. 99 Toyota GR YARIS Rally1 alongside co-driver Elliott Edmondson, Solberg claimed his maiden WRC victory, which also marks Toyota's 100th win in the history of the FIA World Rally Championship. The team's efforts have also helped Toyota retain its position at the top of the manufacturers' standings, holding a 52-point lead as the 2025 season passes the halfway mark. Akio Toyoda, TGR-WRT Chairman, commented: 'Oliver, Elliott, congratulations on your victory! I've heard from the team that Juha has been giving Oliver various pieces of advice, as it was his first time competing with the GR YARIS Rally1. I am very grateful to Juha. The next rally is our home rally. We will put on the best performance for the people of Jyväskylä, who always support us. I'm counting on everyone in the team!' Rally Estonia marked a career-defining debut for 23-year-old Solberg, who was handed the opportunity to drive the No. 99 Toyota GR YARIS Rally1 alongside co-driver Edmondson. After two days of testing in Finland, he quickly found his rhythm on Estonia's high-speed gravel roads. Solberg made an immediate impact, winning his first career stage in the opening forest tests to take the rally lead. Two more stage wins later that day gave him a 12.4-second advantage. Despite a reduced road position advantage, Solberg maintained his momentum, adding four more stage wins to extend his lead to 21.1 seconds. Rainfall added to the challenge in the final leg, but Solberg remained composed, securing two more stage wins to bring his total to nine. A measured Power Stage run, where he posted the third-fastest time, sealed a landmark 25.2-second victory and capped one of the most impressive performances in recent WRC memory. With this result, he becomes the third-youngest driver to win a WRC round and the 16th to do so in a Toyota. Over the years, Toyota has been participating in many different forms of motorsports, including Formula One, the World Endurance Championship (WEC), and the Nürburgring 24 Hours endurance race. Toyota's participation in these events was overseen by separate entities within the company until April 2015, when Toyota established TGR to consolidate all of its motorsports activities under one in-house brand. Representing Toyota's belief that 'the roads build the people, and the people build the cars,' TGR highlights the role of motorsports as a fundamental pillar of Toyota's commitment to making 'ever-better' cars. Harnessing years of experience gained under the extreme conditions of various motorsports events, TGR aims to forge new technologies and solutions that bring the freedom, adventure, and joy of driving to everyone.
Business Times
06-08-2025
- Business
- Business Times
Revitalised Stamford Court to get new co-working space by The Great Room by H2 2026
[SINGAPORE] The former Stamford Court at 61 Stamford Road will feature a co-working space by Singapore-based co-working brand The Great Room (TGR), as part of its rejuvenation into a mixed-use lifestyle hub. As TGR's ninth Singapore outlet and fourteenth in Asia-Pacific, the space will be launched as a collaboration between the home-grown brand and Singapore-based real estate investment and asset management firm Elevate Capital, TGR said on Wednesday (Aug 6). Elevate Capital is one of two parties behind the joint venture (JV) that is redeveloping the four-storey building in the City Hall area, having acquired it for S$132 million in 2024 from UOL subsidiary Singapore Land . The other is PGIM Real Estate, the real estate investment arm of PGIM, Prudential Financial's global asset management business. Ashish Manchharam, Elevate Capital's founder and managing partner, said the collaboration expresses the vision for Stamford Place – the new name for the redeveloped Stamford Court. 'Together with TGR, we're reimagining a once-overlooked site (as) a dynamic hub where work, culture and community converge – bringing new energy to the civic district and shaping a lifestyle destination,' said Manchharam, who was involved in the development of TGR's South Bridge space in 2023. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up In an interview with The Business Times in December, Manchharam mentioned plans to introduce a co-working space and serviced apartments to the upper floors of the property, which is slated to complete its redevelopment some time between mid and late 2026. 'Boutique office experience' The upcoming co-working space, The Great Room Stamford Place, will offer a 'contemporary boutique office experience', TGR said. Spread across two floors, it will occupy around 30,000 square feet of space. The Stamford Court building is accessible to the City Hall and Bras Basah MRT stations, and 'taps into increasing demand for flexible workspaces on the fringe of the Central Business District, particularly among professionals in the creative, media and lifestyle sectors', TGR said. The property's redevelopment is also part a larger repositioning initiative by Elevate Capital to transform the development into a blend of modern workspaces alongside retail and design-led boutique serviced residences, said TGR. Established in 2016, TGR was acquired by workplace-as-a-service company Industrious in 2022, which was in turn acquired by New York-listed real estate company CBRE in early 2025.
Business Times
06-08-2025
- Business
- Business Times
Revitalised Stamford Court to get new co-working space by The Great Room in 2026
[SINGAPORE] The former Stamford Court at 61 Stamford Road will feature a co-working space by Singapore-based co-working brand The Great Room (TGR), as part of its rejuvenation into a mixed-use lifestyle hub. The four-storey building's redevelopment follows its acquisition by a joint venture (JV) between PGIM Real Estate and Elevate Capital Group, which purchased the property from UOL subsidiary Singapore Land for S$132 million in 2024. PGIM Real Estate is the real estate investment arm of PGIM, Prudential Financial's global asset management business, and Elevate Capital is a Singapore-based real estate investment and asset management firm. The co-working space, to be launched under a collaboration between TGR and Elevate Capital, will be the brand's ninth Singapore outlet and fourteenth in Asia-Pacific, said TGR on Wednesday (Aug 6). Ashish Manchharam, Elevate Capital's founder and managing partner, said the collaboration expresses the vision for Stamford Place – the new name for the redeveloped Stamford Court. 'Together with TGR, we're reimagining a once-overlooked site into a dynamic hub where work, culture and community converge – bringing new energy to the civic district and shaping a lifestyle destination,' said Manchharam, who was involved in the development of TGR's South Bridge space in 2023. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up In an interview with The Business Times in December, Manchharam mentioned plans to introduce a co-working space and serviced apartments to the upper floors of the property, which is slated to complete its redevelopment some time between mid and late 2026. The upcoming co-working space, The Great Room Stamford Place, will offer a 'contemporary boutique office experience', TGR said. Spread across two floors, it will occupy around 30,000 square feet of space. Its location 'taps into increasing demand for flexible workspaces on the fringe of the Central Business District, particularly among professionals in the creative, media and lifestyle sectors', TGR said. The company noted that the Stamford Court building stands at the intersection of Singapore's artistic, historical and commercial axes and is accessible to City Hall and Bras Basah MRT stations. The building's redevelopment is part a larger repositioning initiative by Elevate Capital to transform the development into a blend of modern workspaces alongside retail and design-led boutique serviced residences, TGR added. Established in 2016, TGR was acquired by workplace-as-a-service company Industrious in 2022, which was in turn acquired by New York-listed real estate company CBRE in early 2025.
Hans India
03-07-2025
- General
- Hans India
Admissions Open for Vacant Seats in TGR Schools for Classes 6 to 8 in Jogulamba Gadwal and Mahabubnagar
Gadwal: Applications Invited from Eligible Students for 2025–26 Academic Year In a joint press release, Mahabubnagar District Educational Officer A. Praveen Kumar and District Convenor of the Telangana Residential Educational Institutions Society (TREIS) B. Srinivas announced that applications are being accepted for filling vacant seats in Classes 6 to 8 at TGR (Telangana Gurukulam) Residential School & Junior College for Boys in Beechupally (Jogulamba Gadwal district) and for Girls in Balanagar (Mahabubnagar district) for the academic year 2025–26. Applications can be submitted in person at the respective schools from July 3 (Wednesday) to July 7 (Monday), between 10:30 AM and 5:00 PM on working days only. Students applying must enclose the following documents with their application form: Bonafide certificate of the current class Two passport-size photographs Xerox copy of Aadhaar card The entrance examination will be conducted on July 9, 2025 (Thursday), from 10:00 AM to 12:00 PM at TGR School & Junior College for Girls, Balanagar. Admissions will be allotted based on merit in the entrance test. For more information, students and parents may contact: Beechupally (Boys): 8106963904 Balanagar (Girls): 9951149909 The officials urged all eligible students to make use of this opportunity to receive quality education through Telangana Gurukul institutions, which are known for nurturing bright futures.
