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Time Out Abu Dhabi
17-06-2025
- Automotive
- Time Out Abu Dhabi
You can get Dhs400 off your Careem car rental this summer
If you've been thinking about swapping taxis for your own set of wheels – at least for the summer – Careem's latest offer might be just what you need. The homegrown super app has launched a limited-time car rental deal, giving drivers across Abu Dhabi Dhs400 off on two-month bookings. Running from June 15 to July 15, the promotion is ideal for those seeking to cruise through the warmer months with a little more independence (and air conditioning). Whether you're running errands, heading to the office, or escaping to cooler climes on the East Coast, you can now do it without the hassle of car ownership. The deal is available through Careem's car rental partner, Swapp and includes a wide range of vehicles like Mazda 6, Hyundai Creta and Volvo S90, with prices starting from Dhs2,340 before discount. Just use the code 'SUMMER400AUH' and the savings are yours. Careem's car rental service is designed for ease so there's no deposit required and same-day delivery means your chosen ride could be parked at your doorstep just hours after booking. Everything happens via the Careem app too, so there's no paperwork, no long queues and no waiting around. Bookings range from short to long-term, but the average rental duration sits at three months, with some customers keeping their cars for over a year. While the Nissan Sunny and Mitsubishi Attrage remain everyday favourites, premium options like the Mercedes G63, Lamborghini Huracan and Ferrari F8 are also part of the fleet, for those looking to level up their summer drives. Bassel Alnahlaoui, chief business officer at Careem, said: 'Our car rental service is built for maximum flexibility and convenience, whether you need a ride for a few days or several months. So many expats in the UAE are looking for easy and cost-effective ways to get around. Careem Car Rental offers a simple way to rent a car in minutes, without the upfront costs or commitment of ownership. And for those booking longer rentals, it's a great way to enjoy added savings during the summer months.' Ready to hit the road? Just open the Careem app, tap 'Car Rental,' and take it from there. Summer in Abu Dhabi The 27 best things to do indoors this summer in Abu Dhabi It's time for some air-conditioned bliss Psst: This is when summer officially starts in Abu Dhabi No complaints here Yas Waterworld's epic new expansion is opening this summer – including 12 new slides Weeeeee! 25 brilliant beach and pool day passes in Abu Dhabi Grab your SPF – a lush day by the water awaits
Time of India
16-06-2025
- Business
- Time of India
Cement stocks set to rise due to these four reasons
March quarter tailwinds Academy Empower your mind, elevate your skills Mid-to-long term view Birla Corporation The company reported an excellent performance in the March 2025 quarter, with revenue and net profit exceeding Reuters-Refinitiv estimates by 5% and 92% respectively. While the volumes jumped 17%, realisations registered 7% growth on a sequential basis. This, coupled with cost optimisation measures, aided EBITDA, which grew 115% quarter-on-quarter. The capex plan of Rs.4,340 crore is aimed at increasing grinding and clinker capacity, which will increase production capacity from 20 MMT (million metric tons) currently to 27.6 MMT by 2028-29. The funding of capex will be through internal accruals, which will restrict the expansion of net debt. The management has guided that the net debt to EBITDA ratio shall remain below 2 for the next two years. An Elara Capital report says that the company's limited presence in the surplus market of south India, continued incentive income, focus on premiumisation, and savings from coal mines bode well for long-term performance. Dalmia Bharat Aided by lower costs and operating leverage benefits, the firm posted a decent operating performance despite muted revenue growth. While revenue missed Reuters-Refinitiv estimates by 4.7%, net profit exceeded estimates by 40%. Decline in volumes impacted revenue growth, whereas higher other income and lower than expected depreciation boosted net profit. The management is strengthening the dealer network and distribution channels as well as investing in brand building. It anticipates demand recovery in 2025-26, led by increased government spending and pent-up demand. The planned capex of around Rs.3,500 crore for 2025-26 is marked for expansion projects in Karnataka and Maharashtra. The company¡¦s capacity is lower than its peers and capacity expansion plans will address such concerns to some extent. A Motilal Oswal report says that Dalmia Bharat is among the low-cost producers in the cement industry, backed by a higher blending ratio (the proportion of different materials used to produce cement), green power share, and lower freight costs. Moreover, the recent price hikes in its core markets may help improve margins. It reported a strong performance in the March 2025 quarter, aided by volume growth and lower operating costs. Revenue and net profit surpassed Reuters-Refinitiv estimates by 9.1% and 10.3%, respectively. Market share gains in the central India region boosted volumes, which grew 16% year-on-year. On the other hand, reduction in pet coke prices and operating leverage gains led to cost reduction. The ongoing capacity expansion plans will boost production capacity from 24.3 MMT in 2024-25 to 30.3 MMT in 2025-26. The company¡¦s ability to generate strong operating cash flows will help limit the expansion of net debt. An Elara Capital report says that JK Cement is well-positioned for healthy volume growth, aided by a strong pipeline of ongoing capacity expansion projects. It lists steady price trend in north India, cost-saving measures, and its plans to enter the high-margin Kashmir market as the key growth catalysts. The company met the revenue estimates compiled by Reuters-Refinitiv in the March 2025 quarter, aided by decent volume growth and modest realisations. Decline in operating costs (including raw materials, power, and fuel) and increase in green power mix supported EBITDA, which grew by 12% year-on-year. The management has announced a capex plan of Rs.1,500 crore, aiming for efficiency projects in India Cements and Kesoram Industries (acquired companies). Such projects are expected to aid overall profitability in the future. While the company¡¦s net debt swelled due to acquisitions, the ability to generate strong operating cash flows will help reduce net debt over the next two years. A Systematix report maintains a positive outlook on the company¡¦s long-term growth potential, driven by its strong market leadership, disciplined cost management, and ambitious capacity expansion plans. The firm's focus on deleveraging and integration of recently acquired assets are other positives. Ambuja Cements It reported a strong operating performance in the March 2025 quarter, aided by volume growth and better realisation. Revenue surpassed Reuters-Refinitiv estimates by 2.5%. While volume growth of 13% year-on-year was aided by the ramp-up of acquired assets (Sanghi Industries and Penna Cement), cost efficiencies and sequential decline in raw materials and fuel costs supported EBITDA, which grew by 110% quarter-on-quarter. The management has reiterated its cost reduction guidance of Rs 500 per ton by 2027-28 by increasing the share of green power and long-term supplier agreements. A Prabhudas Lilladher report expects the company to keep gaining market share, aided by the ramping up of Penna/Sanghi assets. Moreover, the gradual improvement in the green power mix and targeted synergy benefits will support EBITDA growth over the next few years. After a weak first half in 2024-25, cement companies saw improved volumes and revenues in the March 2025 quarter. Data from Reuters-Refinitiv covering 27 cement firms (with market capitalisation of over Rs.500 crore) shows aggregate revenue rising 11% year-on-year, from 4.4% in the December 2024 the first half of 2024-25, the sector's performance was affected by the general elections, extreme heatwave, and labour shortages. Muted demand also pressured prices and realisations, weakening concerns are evident in share price performance. Over the past year, the group of 27 companies delivered an equal-weighted average return of -4.8%, lagging the Nifty 500's 7% gain. Sixteen stocks posted negative returns, and 19 underperformed the index. Returns are as of 10 June like pent-up demand, increased government spending, revival in rural demand, a low base, and selective price hikes aided the performance in the March 2025 quarter. However, despite stability in prices, the realisations for most companies declined on a year-on-year basis due to market resistance and year-end demand triggers, lower operational expenses—especially power and fuel costs supported by stable pet coke and diesel prices—drove a sequential improvement in EBITDA margins. Margins improved for 21 of the 27 companies in the March 2025 quarter compared to the three months ended December revival of construction activities across key markets led to a sharp jump in the cement prices in April 2025. Though the increase in prices moderated in May, the current prices are the highest in the past 15-17 months. In the first two months of 2025-26, all India average prices have jumped by 7-8% year-on-year, according to data compiled from a JM Financial saw the sharpest sequential rise in the southern and eastern regions, while remaining largely flat elsewhere. The price hikes, along with cost efficiencies, are expected to support cement companies' financial performance in the June 2025 Elara Capital and JM Financial flagged near-term concerns due to an early monsoon potentially curbing demand growth, reports from Axis Securities, Centrum Broking, PhillipCapital, Nuvama, Systematix, Prabhudas Lilladher, and ICRA remain constructive on the sector's long-term growth prospects. The ICRA report expects cement volumes to grow by 6-7% year-on-year, backed by demand from the housing and infrastructure in residential and commercial real estate, recovery in rural spending, and increased urbanisation are the factors driving cement demand. Moreover, government investments in infrastructure and programmes such as the Smart Cities Mission, Bharatmala Pariyojana, PM GatiShakti, and Housing for All will provide additional support to the the adoption of green technologies by cement companies (waste heat recovery, alternative fuels etc) is expected to support margins by imparting cost of efficiencies. In addition, the ongoing capacity expansion by key players will boost industry volumes. A Centrum Broking report says that the industry will see additional organic capacity additions over the next 2-3 years and that it expects the industry's capacity utilisation levels to increase from 74% to 77%. Here are the five cement companies with decent analyst coverage and with good buy ratings.
Hans India
13-06-2025
- Business
- Hans India
Gold jumps Rs 850; silver slips Rs 100
New Delhi: Gold prices jumped Rs850 to Rs99,340 per 10 grams in the national capital on Thursday amid a rise in precious metal prices in the overseas markets, according to the All India Sarafa yellow metal of 99.5 per cent purity climbed Rs800 to Rs98,800 per 10 grams . However, silver prices went lower by Rs100 to Rs1,07,000 per kilogram on Thursday. The most traded gold contracts for August delivery bounced by Rs1,585 to trade at Rs98,289 per 10 grams. Subsequently, the contracts for October delivery rallied Rs1,520 to Rs99,214 per 10 grams on the Multi Commodity Exchange (MCX). 'Gold prices surged higher on Thursday as escalating US-Iran tensions reignited safe-haven demand and weaker-than-expected US inflation data bolstered bets of interest rate cuts from the Federal Reserve,' Sriram Iyer, Senior Research Analyst at Reliance Securities, said. Meanwhile, spot gold increased by $15.74 per ounce or 0.47 per cent to $3,370.87 per ounce in the international markets.
Daily Mirror
17-05-2025
- Sport
- Daily Mirror
What PGA Championship stars earn after missing cut in full purse breakdown
The PGA Championship hit the halfway mark on Friday, but those players who failed to make the cut were still rewarded for their efforts at Quail Hollow despite their tournament being over The PGA Championship is well underway and golf's top stars are vying for the grand prize at Quail Hollow. At the halfway point, Jhonattan Vegas is the unlikely leader on eight-under-par ahead of Day 3 in Charlotte, North Carolina. The Venezuelan holds a two-shot lead over the trio of Matt Fitzpatrick, Kim Si-woo, and Matthieu Pavon in T2. World number one Scottie Scheffler is next up in T5 on five-under and is joined by Max Horna. At the other end of the leaderboard, defending champion Xander Schauffele and Masters victor Rory McIlroy sit at T62, nine shots off the lead. Both scraped through the right side of the cut line on Friday, with the PGA Championship field reduced from 156 to 74. Plenty of high-profile names missed out on the opportunity to compete for the rest of the weekend. The most notable players included three-time PGA Championship winner Brooks Koepka, golf legend Phil Mickelson, and two-time champion Justin Thomas. Recent Masters runner-up Justin Rose also fell well short of the mark, finishing on nine-over. Jordan Spieth and Shane Lowry came closer to securing their place for Day 3. However, all those who missed the cut do not leave Quail Hollow empty-handed. The players who finished below the cut line last year each received $4,000 (£3,000). The prize money breakdown for the 2025 PGA Championship will be revealed later this weekend, but the total is expected to improve from $18.5m (£13.9m) and move closer to $20m (£15m). Schauffele was rewarded with a $3.3m (£2.48m) payday when he triumphed at the PGA Championship last year, almost double the $1.8m (£1.36m) that McIlroy received for winning the same tournament a decade earlier. Meanwhile, last year's runner-up Bryson DeChambeau earned just shy of $2m (£1.5m) for his efforts. It is a far cry from the $500 that inaugural winner Jim Barnes was given in 1916. The recent prize money figures reflect the trend of the PGA striving to match the lucrative payouts offered by LIV Golf. The Masters boasted a $21m (£15.8m) prize pot last month, just shy of the $21.5m (16.1m) shared out at last year's US Open. The Open Championship also paid out $17m (£12.8m) in 2024. Here's a full breakdown of the PGA Championship prize money from last year. 2024 PGA Championship prize money payouts 2: $1,998,000 3: $1,258,000 4: $888,000 5: $740,000 6: $660,580 7: $618,300 8: $577,790 9: $539,030 10: $502,040 11: $466,810 12: $433,340 13: $401,630 14: $371,690 15: $343,500 16: $317,080 17: $292,420 18: $269,520 19: $248,380 20: $229,000 21: $211,390 22: $195,530 23: $181,440 24: $169,990 25: $158,980 26: $148,410 27: $138,280 28: $128,590 29: $119,340 30: $110,540 31: $103,490 32: $97,330 33: $92,040 34: $87,640 35: $84,110 36: $80,770 37: $77,510 38: $74,340 39: $71,250 40: $68,260 41: $65,350 42: $62,530 43: $59,800 44: $57,160 45: $54,610 46: $52,140 47: $49,760 48: $47,470 49: $45,270 50: $43,160 51: $41,130 52: $39,190 53: $37,340 54: $35,580 55: $33,910 56: $32,320 57: $30,830 58: $29,590 59: $28,540 60: $27,660 61: $26,950 62: $26,440 63: $26,000 64: $25,590 65: $25,190 66: $24,800 67: $24,430 68: $24,060 69: $23,690 70: $23,340 71: $23,060 72: $22,830 73: $22,650 74: $22,470 75: $22,350 76: $22,230 77: $22,140 78: $22,100
The Star
01-05-2025
- The Star
Miri cops nab two men, seize drugs worth over RM123,000
KUCHING: Police have arrested two men and seized drugs worth more than RM123,000 in two separate raids in Miri on Sunday. Miri OCPD ACP Mohd Farhan Lee Abdullah said in the first raid at an entertainment centre at about 12.10 midnight, a 27-year-old foreign man was arrested. "In the raid, police seized drugs suspected to be Ecstasy powder weighing 1.3 kilogrammes, Ecstasy pills (37 grammes), ketamine (10.2 grammes) and a pod containing the drug (66.9 grammes) with a total value of RM25,620. "The amount of drugs seized is estimated to be used by 1,509 addicts. "Initial screening tests found the suspect positive for methamphetamine," he said in a statement on Thursday (May 1). He said in a second raid at a house on the same day at around 1.25pm, a 35-year-old local man was arrested and police seized 31.4 kilogrammes of marijuana worth RM97,340. "Also seized was a Perodua Axia with an estimated value of RM20,000. The amount of drugs seized could be used by 155,002 addicts," he said. According to Mohd Farhan, both cases are being investigated under Section 39B of the Dangerous Drugs Act 1952, which provides for the death penalty or, if not sentenced to death, life imprisonment and not less than 12 strokes of the cane, if convicted. - Bernama
