Latest news with #BD
Business Recorder
12 hours ago
- Business
- Business Recorder
Boeing's quarterly loss shrinks as jet deliveries rebound, but shares drop
Boeing's quarterly loss more than halved and was much smaller than analysts expected as the U.S. planemaker ramped up jet deliveries, recovering from a regulatory crisis and a major strike that halted most production last year. Boeing shares dropped 2% in early trading. The results highlighted Boeing's efforts to cautiously increase monthly output this year, following years of quality issues and production delays on its flagship 737 MAX. Increased deliveries mark a pivotal step in Boeing's effort to rebound from years of production disruptions and crises that piled on debt, increasing the urgency of accelerating output to restore financial stability. Boeing's financial improvements were tempered by its announcement that certification of the new 777-9 and 737 MAX 7 and 10 models will not happen until 2026, another setback for those programs. The company previously said it expected to finish certification by the end of this year. BD orders 25 Boeing planes as part of push to ease US tariffs The company is still developing solutions to address several lingering issues stalling certification, Boeing CEO Kelly Ortberg told CNBC. During the interview, he praised President Donald Trump's aggressive use of tariffs to hammer out trade deals. 'I like the way this tariff situation is playing out,' Ortberg told CNBC. 'It's good for our business, is good for aerospace, and will create jobs in the United States.' The planemaker posted an adjusted core loss per share of $1.24 for the quarter through June, compared with a $2.90 loss a year ago. Analysts had expected a loss of $1.48 per share. The planemaker's free cash flow usage, a key metric for Wall Street, was better than expected, signaling an improving cash position. 'As we continue to execute our Safety & Quality Plan, there's more stability in our operations,' Ortberg said in a letter to Boeing employees. In May, the company produced 38 737s and production has been stable since then, according to the company. Capped production The U.S. Federal Aviation Administration capped the production of Boeing's best-selling 737 MAX jets following a mid-air panel blowout in a nearly new jet in January 2024. 'We plan to seek FAA approval to increase to rate 42 when our key performance indicators (KPIs) show that we're ready,' Ortberg added. Boeing delivered 206 737 MAX jets through the first half of the year, compared to 135 a year earlier. Across all commercial jet programs, it delivered 285 airliners through June, compared to 175 during the same period in 2024. Wall Street closely tracks aircraft deliveries because planemakers collect much of their payment when they hand over jets to customers. Boeing also increased 787 production at its plant in Charleston, South Carolina, from five aircraft a month to seven. Through the first half of the year, the planemaker booked 668 orders, or 625 net orders after cancellations and conversions. It reported free cash flow usage of $200 million for the second quarter, compared with analysts' expectations of $1.72 billion, according to data compiled by LSEG. Boeing burned $2.3 billion in free cash during the previous quarter and $4.33 billion during the second quarter of 2024. Its defense, space, and security business earned an operating profit of $110 million, compared with a loss of $913 million a year ago. Revenue for the quarter rose 35% to $22.75 billion, beating analysts' estimates of $21.84 billion.
Daily Tribune
a day ago
- Business
- Daily Tribune
'Forever Green' Campaign Plants Over 6,500 Trees Across Bahrain
The National Initiative for Agricultural Development has successfully completed the fourth phase of the national afforestation campaign "Forever Green" (Dumti Khadra'), resulting in the planting of 6,589 trees and shrubs across 24 locations throughout Bahrain. The green spaces now span a total of 11,757 square meters and 4,793 linear meters, covering 15 sites under the Ministry of Municipalities and Agriculture Affairs, as well as 9 other government institutions. The total value of support reached BD 109,911, generously funded by national institutions and private sector partners. The selection of trees was carefully made to align with the government's environmental sustainability goals, prioritizing species that can withstand Bahrain's climate and benefit the local ecosystem. Key species planted include Arabian Acacia, Casuarina, Acacia varieties, Hibiscus tiliaceus, Poinciana, Mangroves, and Neem. These trees are known for their role in combating desertification, improving air quality, supporting biodiversity, and mitigating the effects of climate change. Sheikha Maram bint Isa Al Khalifa, Secretary-General of the Initiative, expressed pride in the outcome of this phase, noting that the campaign not only contributes to environmental protection but also stimulates the national economy. 'Eight Bahraini contractors were involved in the implementation and maintenance works, creating job opportunities and empowering local talent,' she said. She added that sustainability is at the heart of the campaign's strategy. In partnership with KAF Humanitarian Organization, volunteer teams have been formed across all governorates to monitor and report on the health of the trees, ensuring the long-term success of the initiative. Sheikha Maram concluded by announcing that the fifth phase of Forever Green will launch in October, introducing new projects that continue to support Bahrain's green expansion goals and contribute to the nation's climate action efforts.
Daily Tribune
2 days ago
- Daily Tribune
Expat Employed for 13 Years at EWA with Fake Engineering Degree.
A 45-year-old Asian man managed to secure a government job and rise through the ranks at Bahrain's Electricity and Water Authority using a fake university degree from a non-existent American institution, it has been revealed. The man was employed for 13 years—from 2010 to 2023—as an electrical engineer at the authority. His starting salary of BD 1,300 eventually increased to BD 2,208 following a promotion to head of the electrical switches group in 2022. The deception came to light after the Ministry of Education received a request to verify the man's academic credentials. Upon investigation, it was found that the so-called university that issued his electrical engineering degree did not appear in the U.S. list of accredited universities for 2023—and, in fact, does not exist at all. According to court records, the man knowingly used the forged degree to apply for the engineering position and later had the certificate stamped 'certified true copy' by an unsuspecting government employee. This stamp gave the document official status, which allowed it to be accepted for hiring and contract renewal purposes over the years. The case has now reached the First High Criminal Court, which has scheduled August 26 to issue a verdict. An official at the Electricity and Water Authority explained during the investigation that the degree was accepted in good faith, as it appeared legitimate and carried the official stamp. The contract was renewed multiple times without suspicion. Meanwhile, a senior education specialist at the Ministry of Education confirmed that the fake degree came under review after a formal request for verification was submitted. The Ministry then contacted the cultural attaché in Washington through the Ministry of Foreign Affairs. Their response confirmed the alarming truth: the institution in question simply doesn't exist. The Public Prosecution has charged the man with using a forged document, falsifying academic records, and deceiving a public institution for personal gain. This case has raised fresh concerns about vetting procedures for academic qualifications in government jobs and could prompt a review of hiring practices in sensitive sectors like utilities.
Yahoo
6 days ago
- Business
- Yahoo
BD announces wearable injector trial for subcutaneous delivery of biologics
Becton, Dickinson and Company (BD) has announced a trial utilising the BD Libertas wearable injector for subcutaneous delivery of biologics. The decision to employ the injector in this first pharmaceutical-sponsored combination product trial comes after positive results from more than 50 pre-clinical and clinical studies carried out by BD. The company noted that a device clinical trial among these studies highlighted the performance, with all subjects indicating their willingness to use the injector if prescribed. BD Pharmaceutical Systems worldwide president Patrick Jeukenne said: "This trial demonstrates BD's commitment to helping pharma companies by advancing large-volume injection science, ensuring therapies are accessible and patient-friendly by offering more efficient and convenient options for biologics. "BD's enhanced testing capabilities acquired through ZebraSci and the proven capabilities of the BD Libertas Wearable Injector technology further position BD as an innovative leader in drug delivery." The prefilled, patient-ready-to-use system is said to support delivery of high-viscosity biologics of up to 50 centipoise. It comes in two volume configurations, 2mL to 5mL and 5mL to 10mL, catering to various therapeutic needs. Additionally, its design features a simple "peel, stick and click" mechanism, eliminating the need for user filling or assembly. The injector also includes a transparent window for monitoring the drug delivery, push-button activation, along with a colour-coded status indicator. The company is currently validating fill-finish and final assembly processes with several contract manufacturing organisations (CMOs) to ensure support for pharmaceutical collaborators from development to commercial-scale production. As a device component intended for drug-device combination products, it is not subject to US Food and Drug Administration (FDA) 510(k) clearance or European Union (EU) CE mark certification. In April 2025, BD secured the 510(k) clearance for the Phasix ST umbilical hernia patch, enabling the product's commercial launch. "BD announces wearable injector trial for subcutaneous delivery of biologics" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Daily Tribune
6 days ago
- Business
- Daily Tribune
Bahrain's Non-Oil Imports Rise by 7% Compared to May 2024
The Information & eGovernment Authority (iGA) has published its Foreign Trade Report for May 2025, highlighting a mixed picture for the Kingdom's trade performance. According to the report, Bahrain's total foreign trade volume reached BD 880 million in May 2025. While this marked an 11% decrease compared to April 2025, it showed a 6% increase when compared to the same month last year, signaling continued growth over the long term. Non-Oil Imports Rise 7% Year-on-Year The value of non-oil imports rose by 7%, reaching BD 498 million in May 2025, compared to BD 466 million in May 2024. However, imports saw a 13% drop from April 2025. The top 10 countries accounted for 71% of the total import value. China was the leading source of imports, supplying goods worth BD 75 million (15% of total imports). It was followed by the United Arab Emirates (BD 48 million, 10%) and Australia (BD 43 million, 9%). The top imported items included: Aircraft engine parts (BD 42 million) Other aluminum oxide (BD 41 million) Four-wheel drive vehicles (BD 21 million) Exports Maintain Steady Performance National exports for May 2025 totaled BD 322 million, showing a 5% decrease from April, but a 2% increase compared to May 2024. The Kingdom's top export destination remained Saudi Arabia, receiving BD 67 million worth of goods (21%), followed by the United States (BD 33 million, 10%) and the UAE (BD 27 million, 8%). The most exported products were: Unwrought aluminum alloys (BD 94 million) Agglomerated iron ores & concentrates (BD 42 million) Aluminum wire (not alloyed) (BD 17 million) Re-Exports See Annual Growth Despite Monthly Decline Re-exports amounted to BD 60 million in May 2025, reflecting a 15% decline from April, but showing an 18% increase compared to May 2024. The United Arab Emirates was the largest re-export market with BD 24 million (40%), followed by Saudi Arabia (BD 16 million, 27%) and Singapore (BD 3 million, 5%). Key re-exported goods included: Smartphones (BD 6.4 million) Four-wheel drives (BD 6.3 million) Private cars (BD 5 million) Overall Observations Despite a monthly dip in trade activity, Bahrain's year-on-year figures remain positive, driven by rising imports and re-exports. Aluminum products and automobiles continue to be among the most traded goods, while China, Saudi Arabia, and the UAE reinforce their positions as Bahrain's key trading partners. The iGA's report includes detailed breakdowns of the trade balance, imports, national exports, and re-exports, offering a clear snapshot of Bahrain's economic activity and global trade connections.
