Debt-stricken Sri Lanka and New Zealand discuss ways to deepen bilateral trade and investment ties
Winston Peters, New Zealand's deputy prime minister and foreign affairs minister, met Sri Lanka Foreign Affairs Minister Vijitha Herath in the capital Colombo on Monday. The five-day visit by Peters is scheduled to continue until Wednesday
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Yahoo
19 minutes ago
- Yahoo
KB Financial Group Inc (KB) Q2 2025 Earnings Call Highlights: Strong Profit Growth Amidst ...
Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points KB Financial Group Inc (NYSE:KB) reported a significant increase in net profit for the first half of 2025, up 23.8% year over year, reaching 3 trillion 435.7 billion yuan. The company maintained a strong ROE of 13.03% and a CET1 ratio of 13.74%, indicating robust capital management. Non-interest income increased by 10.9% year over year, driven by gains from asset disposition and improved securities and derivatives performance. The diversified business portfolio contributed to earnings stability, with non-bank sectors accounting for 39% of the group's first-half net profit. KB Financial Group Inc (NYSE:KB) plans a substantial shareholder return, with a total of 3 trillion CNY10 billion for 2025, reflecting a firm commitment to shareholder value. Negative Points Net interest margin contracted due to market rate cuts, with the Group NIM decreasing by 5 basis points quarter over quarter. Despite efforts to cut funding costs, the bank's net interest margin posted a decline, impacting profitability. GNA expenses grew by 4.1% year over year, which could pressure future profitability if not managed effectively. Credit loss provisioning remained high, with additional provisions for real estate projects, indicating ongoing risk management challenges. The interest rate decline trend is expected to continue, potentially impacting future net interest income and margin. Q & A Highlights Warning! GuruFocus has detected 7 Warning Sign with KB. Q: Can you elaborate on the shareholder return strategy for the second half of 2025? A: Larsan Ro, CFO, explained that KB Financial Group plans to use funds above the CET1 ratio of 13.5%, amounting to CNY850 billion, for shareholder returns in the second half. This includes a second round of shareholder returns totaling around 1 trillion 150 billion yuan, following a proactive buyback of $300 billion in the second quarter. The total annual cash dividend for 2025 is projected at $1.34 trillion, with a $335 billion dividend for Q2 and a DPS of 920 Korean won. Additionally, 660 billion won of Treasury shares will be bought back and canceled. The total shareholder return for 2025 is expected to be 3 trillion CNY10 billion, a significant increase from the previous year. Q: How did KB Financial Group perform in terms of net profit and ROE for the first half of 2025? A: Larsan Ro, CFO, reported that the group's net profit for Q2 was 1 trillion 738.4 billion yuan, with a first-half cumulative profit of 3 trillion 435.7 billion yuan, marking a 23.8% year-over-year increase. The ROE stood at 13.03%. This performance was driven by higher non-interest income and recovery from non-operating profit, with non-interest income up 10.9% year-over-year. Q: What are the key directions for capital discipline in the second half of 2025? A: Larsan Ro, CFO, outlined three key directions: maintaining the announced shareholder return framework with consistency, managing risk-weighted assets with greater precision, and balancing between ROE and capital ratio to ensure shareholder return expansion is sustainable. The focus will be on solidifying market trust and ensuring the fundamentals guarantee the bottom line. Q: How did the group's non-interest income and net fee income perform in the first half of 2025? A: Larsan Ro, CFO, stated that the group's non-interest income improved by 10.9% year-over-year, reaching 2 trillion 723.3 billion won. This was due to improved performance in securities and derivatives, driven by a decline in exchange rates and a rise in the stock market index. Net fee income increased by 2.9% year-over-year, with significant contributions from bancassurance sales commissions and securities brokerage fees. Q: What is the outlook for asset quality and credit costs in the second half of 2025? A: Larsan Ro, CFO, indicated that asset quality management conditions are expected to improve favorably due to government economic stimulus efforts and support for vulnerable borrowers. The credit cost is believed to have passed its cyclical peak and is entering a downward phase. The group aims to achieve meaningful improvements in asset quality by rebalancing non-performing assets and reducing high-risk asset limits. 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
CNN
21 minutes ago
- CNN
Roof collapse kills children at school in India
Roof collapse kills children at school in India Several children have died and others are injured after a roof collapsed at a school in Jhalawar, northwest India on Friday. Authorities have confirmed that all those missing have been accounted for. 00:26 - Source: CNN Why are Thailand and Cambodia fighting? Tensions are rising between Thailand and Cambodia over a border dispute that dates back to 1907. CNN's Will Ripley explains how the conflict has escalated. 01:32 - Source: CNN CNN reports from Gaza aid crossing CNN's Nic Robertson is on the scene at the Kerem Shalom border crossing as aid agencies warn of rampant hunger caused by Israel's blockade of Gaza. Gaza's health ministry said on Tuesday that 900,000 children are going hungry, and 70,000 already show signs of malnutrition. Israel denies it is at fault and accuses Hamas of 'engineering' food shortages. 01:39 - Source: CNN Reopening the ancient tunnels 75 feet under Rome CNN's Ben Wedeman was given an exclusive tour of ancient tunnels underneath Rome's Capitoline Hill. The tunnels, which archeologists say were once filled with ancient Roman shops and taverns, are set to open to the public in late 2026 or early 2027. 02:02 - Source: CNN Ukraine sees first major anti-government protests since start of war Hundreds took to the streets after Ukrainian President Volodymyr Zelensky signed a new law limiting the autonomy of anti-corruption agencies in his government. 01:03 - Source: CNN Peruvian police use superhero disguise during drug raid An agent in the Peruvian police force disguised themselves as the Mexican superhero character El Chapulín Colorado during a drug raid in the nation's capital of Lima. Police said six members of a criminal gang were captured and that cocaine paste, marijuana, cell phones, and money were seized. 00:38 - Source: CNN Distressing images show starvation in Gaza Distressing video footage shows a 41-year-old man in Gaza who died of starvation as humanitarian organizations urge for Israel to end its blockade of the enclave. CNN's Jeremy Diamond reports. 01:57 - Source: CNN Small Irish town confronts its dark past Excavations of the remains of nearly 800 babies have begun at a former so-called mother and baby home in Tuam, Ireland. At least 9,000 infants and children died in more than a dozen of these institutions over the course of eight decades. 02:11 - Source: CNN Fire tornado rips through Turkish forest Turkey's forestry ministry has released video of a fire tornado tearing through the country's woodland. Hundreds of wildfires have gripped Turkey this summer, as well as Greece and other Mediterranean countries. 00:33 - Source: CNN Concerns grow over Australia's toxic algae bloom A harmful algae bloom off the coast of South Australia, caused by high sea temperatures and runoff from flooding, is poisoning marine life and depleting oxygen in the water. The Australian government has stated that there is little that can be done to reverse the rapid rate of the climate crisis. 01:10 - Source: CNN International visitors to US will pay new fee CNN's Richard Quest explains how the Trump administration enacted a bill that will require international visitors to pay a new 'visa integrity fee' of $250 dollars. The fee will apply to all visitors who are required to obtain nonimmigrant visas to enter the US. 01:36 - Source: CNN Mexico City residents furious over gentrification Mexico City saw its second anti-gentrification protest in less than a month on Sunday with demonstrators furious over rising prices in the city and the record number of foreigners applying for a resident visa. The main nationality of those foreigners seeking to move legally to the nation's capital? The United States of America. 01:11 - Source: CNN Child flees Israeli strike on Gaza refugee camp Video shows a child running away as Israeli munitions struck near a UNRWA school in Bureij Refugee Camp behind her. 00:36 - Source: CNN China cracks down on fake "Lafufu" Labubus Fake Labubu plush toys, dubbed "Lafufu," have gained popularity due to shortages of the original dolls made by China's Pop Mart. 02:05 - Source: CNN Jair Bolsonaro denies coup charges as police raid home Police in Brazil raided the home of former Brazilian President Jair Bolsonaro and enforced a ruling from the country's Supreme Court that Bolsonaro wear an electronic ankle tag. Bolsonaro is being accused of plotting to overturn the results of the 2022 presidential election. 01:17 - Source: CNN Taiwan conducts 10-day military drill The Taiwanese government is preparing for a war they hope will never happen. For the first time this year, Taiwan combined two major civil defense exercises, with the drills lasting ten days. These drills have included urban combat, mass casualty simulations, emergency supply drops and cyber defense that could be enacted if an invasion was to occur. CNN's Senior International Correspondent, Will Ripley, reports. 01:44 - Source: CNN Deadly flooding grips South Korea for days South Korea has been ravaged for days by intense flooding that's left more than a dozen people dead. Reuters reported more than 16 inches of rain fell in one area in just 24 hours, citing the country's Interior and Safety Ministry. 00:48 - Source: CNN Brazil's Lula tells Christiane Amanpour: Trump 'Was not elected to be emperor of the world' Brazilian President Luiz Inácio Lula da Silva tells CNN's Christiane Amanpour in an exclusive interview it was 'a surprise' to see President Donald Trump's letter posted to Truth Social, threatening Brazil with a crippling tariff of 50% starting August 1st. Lula says that he initially thought the letter was 'fake news.' Watch the full 'Amanpour' interview on CNN. 01:33 - Source: CNN Gaza's only Catholic church hit by Israeli strike Gaza's only Catholic church was struck by an Israeli tank, killing three and injuring many more, church officials said. It became internationally recognized after reports emerged that the late Pope Francis used to call the church daily. CNN's Nada Bashir reports 00:53 - Source: CNN Prince Harry recreates his mother's historic landmine walk Following in his mother's footsteps, Prince Harry visited Angola's minefields just as Princess Diana did 28 years ago. The Duke of Sussex was in Angola with The Halo Trust as part of the group's efforts to clear landmines. 00:39 - Source: CNN Massive fire destroys Tomorrowland's main stage Tomorrowland's main stage went up in flames just days ahead of the festival's opening in Boom, Belgium. 00:38 - Source: CNN How Trump's image is changing inside Russia Once hailed as a pro-Kremlin figure, President Donald Trump's image is changing inside Russia. It comes after Trump vowed further sanctions on the country if a peace agreement with Ukraine is not reached in 50 days. CNN's Chief Global Affairs Correspondent is on the ground in Moscow with the analysis. 01:41 - Source: CNN Who are the armed groups clashing in Syria? Dozens were killed in Syria this week after clashes between government loyalists and Druze militias in the southern city of Suwayda, prompting Syrian forces to intervene. That, in turn, triggered renewed Israeli airstrikes. 01:57 - Source: CNN Syrian anchor takes cover from airstrike live on TV An airstrike on the Syrian Ministry of Defense was captured live on Syria TV, forcing the anchor to take cover. Israel has been carrying out airstrikes on Syria as part of its commitment to protect the Druze, an Arab minority at the center of clashes with government loyalists. 00:30 - Source: CNN
Forbes
3 hours ago
- Forbes
Coal Isn't Dead Yet: Global Trends Defy Climate Pledges
WASHINGTON, DC - APRIL 08: U.S. President Donald Trump speaks alongside coal and energy ... More workers during an executive order signing ceremony in the East Room of the White House on April 08, 2025 in Washington, DC. The Trump administration has elected to roll back Biden-era environmental policies with the intention to help revive coal-fired power plants. (Photo by) Despite years of climate summits and net-zero targets, global coal consumption and production both hit record highs in 2024. According to the newly released 2025 Statistical Review of World Energy, global coal demand reached an all-time high of 165.1 exajoules (EJ), a powerful reminder of how deeply the world still relies on this carbon-intensive fuel. The Asia-Pacific Powerhouse At the heart of coal's resilience is Asia. China alone accounted for a staggering 56% of global coal consumption last year, burning through 92.2 EJ. That's an increase of nearly 17% since 2017, despite repeated predictions that China had already passed 'peak coal.' The reality is that coal remains the backbone of China's electricity system, industrial activity, and energy security strategy. India, too, has doubled down on coal. Consumption there climbed to 21.8 EJ, up nearly 45% from a decade earlier. A combination of rising electricity demand, a lack of natural gas infrastructure, and favorable government policies continues to drive growth. The broader Asia-Pacific region tells a similar story. Nations like Indonesia, Vietnam, and Bangladesh are rapidly expanding coal use as they build out electricity grids and industrial capacity. For these countries, coal remains cheap, reliable, and—in many cases—domestically abundant. While wealthier nations are pushing renewables, many developing economies simply can't afford the transition at the same pace. Decline Elsewhere—But Not Enough Coal use continues to fall across much of the OECD. Europe, for example, saw consumption drop to 10 EJ in 2024, continuing a steady downward trend even amid energy security concerns following Russia's invasion of Ukraine. There were some short-lived spikes in places like Germany and Poland, but the overall direction remains lower. Coal Consumption 1965-2024. In the U.S., coal use came in at 9.9 EJ—well below historical highs but showing a small post-COVID rebound. America's power sector has largely shifted to natural gas and renewables, and the long-term trajectory remains downward. Yet these declines aren't enough to offset growth in the developing world. Non-OECD countries now account for about 71% of global coal consumption, up from 63% just a decade ago. The energy divide is widening, and it has significant implications for both climate policy and resource security. Production Keeps Pace—For Now Coal production also surged in 2024, hitting a new global record of 182 EJ. China again leads the way, producing more than half the world's coal—94 EJ in total. India continued its rapid expansion, more than doubling its output since 2006. Indonesia, too, has nearly quadrupled production over that period, largely to meet export demand from Asia. In contrast, the U.S. and Russia hold massive coal reserves but have adopted more cautious production strategies. The U.S. produced 23 EJ in 2024, about 12% of the global total. Russia has plateaued around 9.2 EJ, in part due to sanctions and shifting market dynamics. Non-OECD countries now supply over 60% of global coal output, up from 45% in 2006. This underscores a broader trend: the coal economy is increasingly centered in the Global South, where energy demand is still growing rapidly and alternative infrastructure is limited. A Word on Reserves An important context is that the world still has plenty of coal. The U.S. has the largest proven reserves, with a reserves-to-production (R/P) ratio exceeding 500 years. Russia, Australia, and India also boast deep reserves, although China's are being depleted far more quickly—its R/P ratio is just 37 years. Still, not all reserves are created equally. Countries like Germany and Poland have large deposits of lignite, which is less energy-dense and more polluting than higher-grade coals. Meanwhile, nations like Indonesia and Australia hold coal that is more export-friendly, giving them an edge in global markets. The Infrastructure Trap Part of what keeps coal in play is infrastructure inertia. Across Asia, decades of investment in coal plants, rail networks, and ports have created a system that's hard to unwind. Coal provides steady baseload power in a way that intermittent renewables currently can't—especially in places where battery storage and LNG terminals are lacking. Governments are responding to surging demand with a mix of pragmatism and contradiction. China and India are investing heavily in renewables, but they're also approving new coal projects to avoid blackouts. Subsidies and favorable mining policies persist, even as leaders make high-profile climate pledges. Final Thoughts Global coal use isn't going away any time soon. To the contrary, global coal consumption still growing. The world's wealthiest nations are moving away from it, but the momentum in Asia and the Global South is more than enough to offset those declines. For better or worse, coal remains a pillar of global energy—driven by affordability, energy security, and infrastructure lock-in. The challenge for policymakers is to reconcile this reality with climate goals. Until the world finds scalable, affordable alternatives for baseload power in emerging economies, coal will continue to thrive. And that makes bridging the gap between ambition and reality more important—and more difficult—than ever.
