Latest news with #396
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
Nakilat net profit up 3.7% to QR860 mn in first half of 2025
Tribune News Network Doha Qatar Gas Transport Company (Nakilat) announced its consolidated financial results for the first half of the year ended 30 June 2025, with a net profit of QR860 million compared to QR829 million for the corresponding period in 2024, an increase of 3.7 percent. This continued strong financial performance underlines Nakilat's operational resilience and strategicdiscipline. In addition, the board of directors approved an interim cash dividend for the first half of the year 2025 ended June 30, 2025, of 7.2 Qatari Dirhams per share. The interim dividend entitlement for the first half of the year 2025 will be granted to shareholders who own shares at the end of the trading session on August 6, 2025. These dividends will be distributed in line with the directives of the Qatar Financial Market Authoritythrough Edaa. The company incurred total expenses of QR1,396 million, reflecting a decrease of 4.5 percent. Nakilat Chief Executive Officer Eng Abdullah Al Sulaiti said, 'Nakilat's strong performance in the first half of 2025 reflects the dedication of our team and the flexibility we adopt in maintaining and sustaining our operations. We remain committed to deliver value to our shareholders, partners, and the global energy market through safe, efficient, and sustainable transportation of LNG. Nakilat remains focused on long-term growth and supporting the evolving global market and businessenvironment. 'Beyond maintaining resilient vessel operations, we are actively pursuing an innovative financing strategy to further strengthen Nakilat's financial position. This includes exploring creative structures and cost-effective solutions to reduce overall funding costs. These initiatives enhance our financial flexibility and resilience, positioning us to deliver greater long-term value. By reinforcing the stability of our cash flows, we reaffirm our commitment to generating sustainable, growing returns for our shareholders, a commitment clearly reflected in our latest financial results.' In 2025, Nakilat made substantial progress across its operations and strategic growth initiatives. The company celebrated yet another significant milestone with the steel cutting ceremony marking the commencement of construction of 25 LNG vessels at various shipyards in South Korea. The vessels are part of QatarEnergy's historic LNG fleet expansion project, which caters for future LNG fleet requirements for its LNG expansion projects. Owned by Nakilat, and built with a capacity of 174,000 cubic meters, the new vessels will be chartered to QatarEnergy affiliates under long-term agreements. The company has also commenced the construction of 6 new vessels at the Hyundai Samho Heavy Industries shipyard in South Korea, including 2 LNG vessels and 4 LPG/ammonia vessels. These vessels will be fully owned by Nakilat. Nakilat maintained its five-star rating from the British Safety Council in the Occupational Health and Safety Audit for the eighth consecutive time, and in the Environmental Sustainability Audit for the third consecutive time, reflecting its unwavering focus on safety, excellence, and sustainability. The company was once again recognised among the Top 100 listed companies in the Middle East for 2025, reaffirming its leadership in the region's maritime and energy logistics sector. In keeping with its commitment to exemplary investor relations, Nakilat will host a conference call to discuss the financial results for the first half of 2025 on Wednesday, July 30, 2025, at 13:30 hours (Doha Time). The presentation will be published on the company's website prior to theconference call.
Los Angeles Times
19-07-2025
- Business
- Los Angeles Times
Airbnb allowed rampant price gouging following L.A. fires, city attorney lawsuit alleges
The Los Angeles city attorney's office has filed a lawsuit against Airbnb, accusing the home-sharing platform of allow price gouging and unverified hosts and addresses at more than 2,000 rentals following the January firestorm in Altadena and Pacific Palisades. In a statement, L.A. City Atty. Hydee Feldstein Soto's office accused Airbnb of allowing illegal rental price hikes and permitting false and nonexistent hosts and addresses on the platform. The lawsuit seeks a permanent order to halt Airbnb from hiking up prices during the existing state of emergency, as well as reimbursement for consumers who were charged higher rates. 'Although Airbnb subsequently took steps to curtail price gouging, evidence indicates that illegal gouging on the site continues and may be ongoing,' Feldstein Soto said in a statement announcing the civil enforcement action. 'Airbnb is aware that its verification processes are inadequate … potentially luring prospective tenants into a false sense of security about its hosts and locations.' Airbnb disputed the lawsuit's accusations, saying the platform has played a consistent role in supporting victims with financial aid following the wildfires. 'Since the wildfires broke out, Airbnb … contributed nearly $30 million to fire recovery efforts in Los Angeles, including free emergency housing to nearly 24,000 people impacted by the fires,' an Airbnb spokesperson told The Times. 'We will continue supporting the city of Los Angeles in its recovery and rebuilding efforts.' The lawsuit seeks fines of $2,500 for each instance of alleged price gouging in L.A., which could reach between 2,000 and 3,000 properties, or up to $7.5 million in total penalties. The lawsuit also alleges that Airbnb's 'inadequate' verification processes left users vulnerable to offenses such as identity theft, robbery, sexual assault, invasion of privacy and voyeurism. Airbnb did not respond to an inquiry from The Times regarding those claims. The unverified and 'nonexistent' hosts alleged in the lawsuit refer to cases of hosts using fake names to represent themselves on the platform. According to the lawsuit, cases include a profile under the name of 'Amber Hiller' that actually belonged to a woman named Akila Nourollah, and a host named 'Greg,' verified using the ID of someone named Guven Sacikarali, a relative of the actual account controller, Ali Sacikaral. While not the correct name of the account owners, Airbnb does allow the use of 'preferred names' in its terms and conditions. The lawsuit also mentions several cases in which verified locations on Airbnb were actually located up to four miles away from the advertised address. If price gouging claims are determined to be true, the lawsuit claims that Airbnb can be found to have violated the state's Unfair Competition Law, California Penal Code Section 396, the Anti-Gouging Law, and the Jan. 16 state of emergency declaration by Gov. Gavin Newsom, which states that it would be illegal for Airbnb to increase the pricing of rentals by more than 10% during the state of emergency. The firestorm that erupted on Jan. 7 ultimately destroyed more than 16,000 buildings in Pacific Palisades, Malibu and Altadena. In January, Airbnb released a statement denouncing price gouging and promising to make it impossible for hosts to raise the prices of their properties by more than 10% from their pre-wildfire rates. 'With tens of thousands of people currently displaced in the Los Angeles area and the prospect of that figure continuing to increase, the last thing anyone should encounter is pricing for a hotel room or a home that seeks to take advantage of a desperate situation,' the statement read. The company also pledged to give free $1,000 vouchers to fire victims for Airbnb stays. By Jan. 28, more than 11,000 vouchers had been sent out. However, some fire victims claimed that strict regulations and a lack of response to applications made the vouchers essentially useless. While the state of emergency declaration aimed to prevent rental price hikes during and following the fires, previous Times reporting revealed that prices had continued to balloon in parts of L.A., leaving those without shelter with little options besides expensive stays. An Airbnb spokesperson said the cap on increasing rental prices following the fires stayed firm, allowing for no illegal increases. The company cited California Atty. Gen. Rob Bonta's early statements, which praised Airbnb's promises to comply with the state's emergency declarations. 'They're doing the right thing, I thank them for doing that. We hope other platforms will follow suit and do the same,' Bonta said during a Jan. 16 news conference. However, Bonta's statements came before many long-term Airbnb rates were set.
TimesLIVE
07-07-2025
- Health
- TimesLIVE
From Karachi to Gaza: Pakistani start-up ships prosthetics to child war survivors
CEO Anas Niaz said the social enterprise start-up had fit more than 1,000 custom-designed arms in Pakistan since 2021 — funded through a mix of patient payments, corporate sponsorship and donations — but this was its first time providing prosthetics to those affected in conflict. Sidra and three-year-old Habebat Allah, who lost both her arms and a leg in Gaza, went through days of remote consultations and virtual fittings. Then Niaz flew from Karachi to Amman to meet the girls and make his company's first overseas delivery. Sidra's device was funded by Mafaz Clinic in Amman, while donations from Pakistanis paid for Habebat's. Mafaz CEO Entesar Asaker said the clinic partnered with Bioniks for its low costs, remote solutions and ability to troubleshoot virtually. Niaz said each prosthetic arm costs about $2,500 (R44,416), significantly less than the $10,000 (R177,677) to $20,000 (R355,396) for alternatives made in the US. While Bioniks' arms are less sophisticated than US versions, they provide a high level of functionality for children and their remote process makes them more accessible than options from other countries such as Turkey and South Korea. 'We plan on also providing limbs for people in other conflict zones, such as Ukraine, and become a global company,' Niaz said. Globally, most advanced prosthetics are designed for adults and rarely reach children in war zones, who need lighter limbs and replacements every 12-18 months as they grow. Niaz said they were exploring funding options for Sidra and Habebat's future replacements, adding the cost wouldn't be too high. 'Only a few components would need to be changed,' he said, 'the rest can be reused to help another child.' Bioniks occasionally incorporates popular fictional characters into its children's prosthetics such as Marvel's Iron Man or Disney's Elsa, a feature Niaz said helps with emotional acceptance and daily use. Gaza now has about 4,500 new amputees, on top of 2,000 existing cases from before the war, many of them children, making it one of the highest child-amputation crises per capita in recent history, the UN humanitarian agency OCHA said in March. An April study by the Palestinian Bureau of Statistics found at least 7,000 children have been injured since Israel's war in Gaza began in October 2023. Local health authorities say more than 50,000 Palestinians have been killed, nearly one-third of them children. The World Health Organisation has said Gaza's health system is 'on its knees' with Israel's border closures drying up critical supplies, meaning the wounded cannot access specialised care, especially amid waves of wounded patients. 'Where it's nearly impossible for healthcare professionals and patients to meet, remote treatment bridges a critical gap, making assessments, fittings, and follow-up possible without travel or specialised centres,' said Asadullah Khan, clinic manager at ProActive Prosthetic in Leeds, UK, which provides artificial limbs and support for trauma patients. Bioniks hopes to pioneer such solutions on a large scale but funding remains a roadblock and the company is still trying to form viable partnerships. Sidra is still adjusting to her new hand, on which she now wears a small bracelet. For much of the past year, when she wanted to make a heart, a simple gesture using both hands, she would ask someone else to complete it. This time, she formed the shape herself, snapped a photo and sent it to her father, who is still in Gaza. 'What I'm looking forward to most is using both my arms to hug my father when I see him,' she said.
Perth Now
19-06-2025
- Business
- Perth Now
Banks snap losing streak but market remains weak
Australia's share market is edging lower as investors await the next development in the Middle East conflict, but local banks are making a comeback after six weak sessions. The S&P/ASX200 is down 18.3 points, or 0.21 per cent, to 8,511.7, as the broader All Ordinaries fell 24.4 points, or 0.28 per cent, to 8,733.5. The weak start came after a similar session on Wall Street overnight, as White House officials mulled a potential attack on Iran and after the US Federal Reserve conceded stagflation risks were rising in the world's largest economy. Market participants remained edgy and uncertain about the Middle East conflict and potential US military involvement, market analyst Kyle Rodda said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and, probably, economic growth." Despite seven local sectors trading lower by lunchtime, financials staged a comeback with a 0.5 per cent gain after fading 1.5 per cent in the previous six sessions. Westpac was leading the charge, up 1.5 per cent to $33.50, while NAB and CBA pushed 0.7 per cent and 0.5 per cent higher respectively. The NAB rise came despite the Australian Competition and Consumer Commission fining the bank $750,000 over breaches to Consumer Data Right rules. Materials was the worst-performing sector with a 1.5 per cent slip, as weak iron ore prices continued to weigh on large caps BHP (-1.5 per cent), Rio Tinto (-1.7 per cent) and Fortescue (-1.3 per cent). Gold miners also traded lower as the safe haven's price continued to coil in a slight downward trajectory, with futures trading at $US3,396 ($A5,232) an ounce. Energy stocks fell 0.6 per cent, as oil and gas giants Woodside (-0.6 per cent) and Santos (-0.3 per cent), handed back some earlier gains as oil prices consolidated after their recent run-up. Futures in global benchmark Brent Crude were trading at $US74.74 a barrel, roughly on par with yesterday's ASX close. Australia's tech sector was down 0.9 per cent after hitting an intraday record on Wednesday, with WiseTech Global weighing heavily with a 1.6 per cent slip to $107.15 after announcing the departure of two board members. Directors Charles Gibbon and Michael Gregg had been long-time supporters of founder and executive chair Richard White, who has been at the centre of a number of scandals at the company. Utilities continued to sell off after Friday's 4.2 per cent surge. The sector has lost 3.5 per cent in value in the subsequent four sessions. The Australian dollar is buying 64.84 US cents, down from 65.07 on Wednesday at 5pm, and edging lower after Australia's unemployment rate held steady in May, offering no surprises in economic data ahead of a widely expected Reserve Bank rate cut in July.
Business Recorder
26-05-2025
- Business
- Business Recorder
Gold seizure: Govt to pay Rs84.8m to Rangers (Punjab) after 36 years
ISLAMABAD: The government has decided to pay reward money of Rs 84.809 million to Pakistan Rangers (Punjab) after passage of 36 years for the seizure of gold 25 kilogram, near Narowal. Pakistan Rangers (Punjab) is a Civil Armed Force, under the administrative control of MoI&NC with primary role of guarding the Eastern International Border of Pakistan from Head Marala to Sadiqabad. The involvement of Pakistan Rangers (Punjab) had increased manifold on Internal Security assignments, VIP protection duties etc. in ICT and within Punjab. According to sources, HQ Pakistan Rangers (Punjab) had intimated that on May 27, 1989, the Pakistan Rangers confiscated 25 kg of gold in the area of responsibility of Post Narowal and amount of confiscated gold i.e. Rs.565,396,780/- was deposited in the public exchequer through the State Bank of Pakistan. Customs seizes smuggled goods worth Rs22.5m Pakistan Rangers (Punjab) further intimated that as per Rule 4(3) of the Customs Reward Rules 2012, the Rangers are eligible for a reward of Rs.84.809 million @ 15% of the total amount i.e. Rs.565,396,780/. The Finance and Revenue Divisions supported the proposal and Law & Justice Division stated that the Pakistan Rangers (Punjab) seized the gold in 1989 but the proceeds thereof have been realized in 2024. Under sub-rule (2) of rule 4 of the Custom Reward Rules, 2012 the amount of reward shall be sanctioned after realization of the whole of the duties and other taxes involved. As such, the Customs Reward Rules, 2012 shall be applicable instead of Customs Reward Rules, 1973 for the reasons explained in sub-rule (2) of the said rule 4. Mol&NC also highlighted the factor that caused delay in finalization of the case. On May 13, 2025, approval of the ECC was requested for Technical Supplementary Grant (TSG) amounting to Rs.84.809 million under head A06103-Cash Award to Pakistan Rangers (Punjab) under Demand No.062 Combined Civil Armed Forces (L01531) during CFY 2024-25, being essential requirement of the force. During the ensuing discussion the forum was informed that the instant case merits consideration as per Custom Reward Rules, 2012, because the amount against confiscated gold was realized in 2024. The forum was also informed that the case could not be concluded timely due to legal proceedings and some procedural lapses. MoI&NC, however, apprised the forum that this will not recur in future and they further ensured that the reward money shall reach deserved personnel or their heirs as per Law. After detailed discussion, the ECC approved the proposal with the directions that there shall not be any recurrence of such inexplicable phenomenon where the gold confiscated in 1989 has been disposed off in 2024. The Forum also approved that reward money shall reach deserved personnel i.e. those recorded in seizure report or their heirs in accordance with Reward Rules mentioned in the summary. Copyright Business Recorder, 2025
