Latest news with #Rand
Fast Company
6 hours ago
- Business
- Fast Company
No one wants to be a leader. Here's why it's still a great role.
Leadership used to be a role people aspired to. But today, employees are increasingly avoiding leadership positions or even stepping out of leadership roles. In fact, 40% of leaders have considered leaving their role to improve their work-life balance and well-being according to a survey of almost 11,000 leaders by DDI. A comprehensive survey by Rand across 34 countries involving 27,000 adults found that 39% didn't want career progression and 57% would reject a job if they thought it would have negative effects on their work-life balance. And according to a separate survey by DDI, Gen Z is 1.7 times more likely than other generations to consider leaving leadership roles because they want to protect their well-being. However, there are still compelling reasons to seek leadership. And there are great reasons to stick with it if you're already in a leadership role. 1. Making a positive impact Leadership is the most direct route for making a positive impact on an organization. Leaders have a broader range of influence, because of the number of people who report to them, the practices they adopt, and the decisions they make. Leaders also have a big impact on others. Demonstrating respect and empathy, focusing on well-being, and inspiring performance and results can all have positive outcomes for people. And these leadership behaviors can have a ripple effect in terms of how people treat each other and hold each other accountable in the organization and the community. As a leader, you're likely to work on issues that are more strategic than tactical, which can have a domino effect on the business. For example, decisions by the product leader can impact how the brand team markets the product and the sales team positions it with customers. 2. Pay and marketability Another reason to lead is because of the rewards. Leadership is worth the effort because it pays you back in tangible ways. In most companies, leadership responsibility is still the fastest way to increase your pay and advance your career. But in addition, you'll also be likely to amplify your personal brand and increase your marketability. Leadership is one of the most sought-after skills among hiring managers and organizations. When you're able to demonstrate that you have experience with leadership and you're skilled in directing, coaching, decision-making, inspiring, and motivating others, you'll set yourself up to shine in future roles. And you'll be able to advance within your current organization or in a new company. It's an excellent time to pursue leadership since fewer people are interested, meaning there's less competition and more opportunities. 3. Autonomy No matter what your role, you have to answer to someone. Even senior leaders or founders of companies have to answer to boards of directors or customers. But in leadership roles, you typically make decisions about what gets done and how it's prioritized. You may also benefit from greater variety in your work, and less redundancy. You'll have more control over what you do, which can be empowering. Having choice and control can be especially fulfilling, and it can also reduce stress. In two separate studies by Indiana University in 2016 and 2020, people who were in jobs that were very stressful and who had little decision-making power tended to be less healthy and had reduced longevity. On the other hand, when people were in stressful jobs but had more autonomy and control over how they did their work, they didn't have the same negative health outcomes. 4. Growth Another great reason to lead is the opportunity for growth. The process of learning new things is significantly correlated with happiness, according to a study published in the Journal of Happiness Studies. Leadership challenges your capabilities as you navigate all the needs of the team, the organization, and the competitive environment. As a leader, you may be called on to do new projects, take on additional initiatives, or expand your responsibilities. All of these are great ways to build your skills for your current job and your next job to create a career that's satisfying and meaningful.
IOL News
a day ago
- Business
- IOL News
Absa Group anticipates mid-teens earnings growth for the first half of 2025
Absa's management said its South Africa operations were expected to drive group earnings growth in the six months to June 30, 2025, mostly due to lower credit impairments as net interest income growth is muted. Strong pre-provision profit growth in Africa regions was anticipated, partially offset by higher credit impairments. Image: Supplied ABSA Group said on Friday it expected earnings to grow by the mid-teens in the six months to June 30, while its return on equity would likely improve to 14.6% from 14% in the first half a year ago. ABSA's share price climbed 2.87% to R175.85 in the afternoon, well ahead of the JSE Banks Index, which was up 1.19% at the same time, and over 10% higher than the bank's share price a year ago. The lender's management said in a trading update that they anticipate mid-single-digit revenue growth in the first half, with higher growth in non-interest income compared to net interest income. Geographically, its South Africa business was expected to drive group earnings growth, primarily due to lower credit impairments, as net interest income growth remains muted. Strong pre-provision profit growth in African regions was anticipated, partially offset by higher credit impairments. Continuing the trend from the second half of 2024, group net interest income growth was expected to be muted, given mid-single-digit loan growth and some margin compression, particularly in South Africa. High single-digit non-interest income growth was expected, with strong trading revenue. Net fee and commission income growth was anticipated to be in the mid-single digits, while net insurance income growth was likely to be modest. Operating expenses growth is expected to be in the mid-single digits, producing low to mid-single-digit pre-provision profit growth, and a slightly higher cost-to-income ratio than 52.7% in the first half of 2024. The credit loss ratio is expected to improve to around the top end of the bank's target range of 75 to 100 basis points, down from 123 basis points in the first half of 2024. The bank's management said the global economic environment remains uncertain and volatile, with increased trade tensions and geopolitical developments reducing growth expectations. 'Across our presence markets, lower inflation has resulted in policy rate cuts in most countries. GDP growth expectations for 2025 have declined in all our countries besides Ghana. Contrary to our expectation, average exchange rates in our African regions did not depreciate against the Rand and has not been a drag on group earnings during 1H25.' From a divisional perspective, strong earnings growth was expected from the re-organised Personal and Private Banking, driven by lower credit impairments, while revenue growth remains muted due to modest industry loan growth and a reduction in our risk appetite for personal loans. In Business Banking, low revenue growth and a higher credit loss ratio was expected to reduce earnings. Corporate and Investment Banking was anticipated to benefit from lower credit losses and strong trading revenue, while net interest income growth remains muted.
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
High-priced drones and Japan's hidden AI champion
Hello, this is Kenji in Tokyo. Since Donald Trump began his second term as U.S. president in January, most of us living in this part of the world have probably gotten into the habit of checking first thing in the morning what he said, wrote or did while Asia was sleeping. This may have already led some of us to develop a sort of immunity to being shocked by his words and actions. But the surprise attack against three nuclear sites in Iran by the U.S. on Sunday morning surely came as a rude awakening for a lot of people, as it clearly escalated the war between Israel and Iran, deepening the crisis in the Middle East -- and potentially for the entire world. While a ceasefire was proclaimed by Trump and later confirmed by Iran and Israel, the "12-day war," as it's being called, has only underscored the need to enhance security, including on the economic front. A number of forums and symposiums discussing economic security have been held here recently, reflecting a rising sense of urgency among politicians, bureaucrats, academics and business leaders. One of these was on June 20, hosted by the University of Tokyo with experts from Rand. The forum focused on securing a critical mineral supply chain, under the premise of a trilateral alliance between Japan, South Korea and the U.S. Fabian Villalobos, senior engineer and professor of policy analysis from the American nonprofit research institute, said critical minerals -- including rare earths predominantly controlled by China -- form the "bedrock of the value chain" for both civilian and military applications. He said he is often asked, "What is the most important mineral?" But to him, that's the "wrong question to ask," because if any piece of the supply chain goes missing, the entire system becomes dysfunctional. We've recently seen this in the auto industry, where American and Japanese makers were forced to halt production lines as China's curbs on rare earth exports kicked in. This is not the first time China's export restrictions have caused disruptions in global supply chains, either. Potential bottlenecks of a different nature, meanwhile, may emerge from an entirely different source: the fact that vital tech components and materials are controlled by a small number of lesser-known companies in Japan. Drone-flation Chinese government regulations adopted in September requiring export permits for dual-use goods have more than tripled the price of drone components shipped to the U.S., according to a report by Nikkei's Itsuro Fujino. The analysis of Chinese customs data shows that the overall export volume of infrared devices, a key drone part enabling visibility in the dark, fell roughly 30% between last September and April, while the export value rose nearly 50%. The price per unit doubled during this period, stemming mainly from a tightened supply-demand balance. Exports to the U.S., which is the largest destination, dropped roughly 60% by volume while the unit price jumped 3.5 times. "Today, China has captured 90% of the U.S. market for commercial drones." This statement comes from a 2024 report from the office of then-Senator Marco Rubio, now the secretary of state, on the Chinese manufacturing sector. Rubio is surely well aware that Beijing could use drones as effective leverage in trade negotiations. Essential threads Nitto Boseki, or Nittobo, for short, may not be a household name, despite having a history that stretches back more than a century. But its products are so crucial for the AI supply chain that executives from Nvidia, AMD and Microsoft have been coming to Japan to pay it a visit. In a collaborative work by Nikkei Asia's Lauly Li and Cheng Ting-Fang in Taipei and Ryohtaroh Satoh in Tokyo, they explain how this relatively little-known AI-enabler is currently the only company in the world able to provide the highest-end glass cloth, a material essential for making high-powered AI servers. Japan boasts several examples of seemingly obscure material makers that underpin the global tech supply chain. Nittobo, however, has a particularly interesting history. It was one of the "top 10 cotton-spinners" in Japan before World War II and helped lead the country's economic reconstruction in the post-war era. As competition from other Asian economies pushed the entire industry to the corner, Nittobo became one of the most successful examples of a company transforming itself away from a sunset industry, while many of its peers perished. The boseki in its name, meaning cotton-spinning, is a reminder of that history of adaptation. Low altitude, lofty ambitions China is betting on its army of civilian drones to help it drive new sources of growth, writes the Financial Times' William Langley. The country dominates the production of commercial drones, accounting for 70-80% of global supply, according to analytics provider Drone Industry Insights. There were about 2.2 million drones registered with the Civil Aviation Administration of China by the end of last year, deployed to do everything from controlling crowds to fighting fires. But Beijing's ambitions go much further than that. The CAAC expects the market size of the low-altitude economy - which refers to airborne activities occurring less than 1,000 meters above ground - to grow fivefold to 3.5 trillion yuan by 2035. That means finding new uses of the technology from private companies. The logistics and food delivery sectors are early adopters, with Meituan and its rivals already employing unmanned aircraft on some routes. The country's farms are also big users. About a third of industrial drones are also used in agriculture or forestry, according to 2022 figures from the Guanyan Tianxia Data Center. But some in the highly competitive UAV industry say that it will be difficult to replace the buying power of big government and military buyers, while strict export controls have limited their potential reach overseas. Double talk Executives of two European tech companies recently sat down with Nikkei Asia to discuss their respective strategies. Marc Biron, chief executive at Belgian chipmaker Melexis, explained how his company is leveraging its production capacity in "neutral" Malaysia to navigate geopolitical headwinds. Speaking to Norman Goh in Kuala Lumpur, Biron said his company's facility in Kuching, Sarawak, has been shipping chips to both the U.S. and China as a "deliberate hedge" against mounting global trade fragmentation. Biron is counting on Malaysia's neutrality which he likens to Switzerland. "That neutrality allows us to manufacture for Asia, China and the U.S., from a single base." Meanwhile, Cheng Ting-Fang spoke with Jos Benschop, executive vice president of technology at ASML, on the development of the next generation of cutting-edge lithography machines that would be advanced enough to serve the chip industry's needs from 2035 and beyond. The world's largest semiconductor equipment maker is partnering with Carl Zeiss for this farsighted development push. China welcomes robotaxi rivalry with Tesla amid homegrown EV chips push Welcome to the Tech Latest podcast. Hosted by our tech coverage veterans, Katey Creel and Akito Tanaka, every Tuesday we deliver the hottest trends and news from the sector. In this episode, Akito speaks with Hong Kong correspondent Cissy Zhou about China's ambitious push for 100% domestic EV chips and the race for supremacy in the emerging robotaxi market. Find us on Apple Podcasts | Spotify | Amazon Music | Voicy | YouTube | YouTube Music Suggested reads 1. How red tape amplified China's rare earth disruptions (Nikkei Asia) has upped the ante in the cold war over chips (FT) 3. SoftBank chief pitches $1tn AI and robotics complex in Arizona (FT) 4. Alibaba to merge food delivery, travel units in 'instant retail' drive (Nikkei Asia) 5. India's underused metros tap ride-hailing apps to lure commuters (Nikkei Asia) 6. Australia regulator calls to add YouTube to under-16s social media ban (FT) 7. Sri Lanka car market tilts toward EVs with BYD, other Chinese leading (Nikkei Asia) 8. Chinese cyber threat to Europe on par with Russia's, warns Czech president (FT) 9. Trade curbs on China send US ethane prices sliding (Nikkei Asia) 10. Chinese factories rush to reduce reliance on Donald Trump's US (FT)
IOL News
5 days ago
- Business
- IOL News
Markets remain nervous on Isreal-Iran conflict
Smoke rises above buildings in Tehran following an Israeli strike on the sixth day of fighting between Iran and Israel. The nervous and volatile environment due to the President Trump's s chaotic tariff policies, the Middle East conflicts and other uncertainties in global markets, like the oil price, may led to unfounded signals that any cuts in the next several months could points towards the Fed is worried about a downturn in the economy, rather than lowering rates in line with lower inflation that falls within the Fed's set target. Image: AFP The US Federal Reserve keeps interest rates unchanged. As was expected, the US Federal Reserve's FOMC during its meeting of June 17–18, 2025 has maintained the federal funds rate at 4.25%–4.50%. The FOMC, however, has indicated they will lower its bank rate by another two twenty-five‑basis‑point rate cuts later in 2025, as was released in their report last Wednesday. The abstaining of lowering rates can also be seen as the upside risk over escalating clashes between Israel and Iran. This is the fourth meeting in a row that the FOMC kept its short-term rate unchanged. The nervous and volatile environment due to the President Trump's s chaotic tariff policies, the Middle East conflicts and other uncertainties in global markets, like the oil price, may led to unfounded signals that any cuts in the next several months could points towards the Fed is worried about a downturn in the economy, rather than lowering rates in line with lower inflation that falls within the Fed's set target. 'We want interest rates to come down because inflation pressures are receding… not because the economy is rolling over and in need of Fed stimulus,' said Greg McBride, chief financial analyst at Bankrate. The interest rate decision led to US Stocks contracting last week. The Dow Jones Industrial Average traded down last week by 0.7%, losing 1.7% since the first attack of Israelis on Iran the previous Friday. The S&P500 lost last week 1.3% and the Nasdaq Composite, weighed down by tech shares, traded lower by 1.1%. The JSE and the rand follow the global trend. The JSE and the Rand continued to follow global financial markets last week. This despite the news that South Africa's annual inflation rate for May was 2.8%. This is the same as the annual rate recorded for April 2025 and the third consecutive month where the annual increase in the CPI came in lower than the 'new' proposed target of 3.0%. This news did however prevent equity prices, and the Rand did not lose a great amount last week. The ALSI ended the week by a mere 0.6% and the Rand/$ exchange rate closed Friday only fifty-two cents weaker at R18.00/$. The gold price lost $63 per ounce last week, closing Friday, on $3 369. The prices for platinum increased last week by $60 to $1 268. Prospects for fuel prices in July are not good. The Brent oil price closed Friday at $76.64 per barrel. It increased $2.47/per barrel last week. Given the weaker rand by Thursday last week, the petrol price was under-recovered by thirty-five cents per liter and that for diesel under-recovered by fifty-six cents per liter. It is expected that the prices for these two fuel commodities to increase more during the rest of the month. Prospects for this coming week The US Fed chairperson Gerome Powel testimony in front of the US senate on Wednesday will be of importance this coming week. Investors await the release of the final estimate of the US GDP economic growth rate on Thursday. It is expected that the world's biggest economy has grown by 2.4% during Q1 2025. This is 0.2% lower than the 2.6% during Q4 2024. The announcement on Friday of the US private consumption and spending figures during May 2025 will also be of note. STATSSA will announce South Africa's annual producer inflation rate for May on Thursday. It is expected that the annual increase in the CPI during May 2025 was 0.8% and much higher than the annual rate of 0.5% in April 2025. The FNB/BER Consumer Confidence Index for South Africa for Q2 2025 will be announced also on Thursday. Consumer confidence contracted to -20 in the first quarter of 2025. This was the lowest value since Q2 2023 and was down from -6 in the previous period. It is expected that the index will improve to -10 during Q2, still indicating that consumers feel negative about the current economic and welfare situation they are in. Chris Harmse is the consulting economist of Sequoia Capital Management and a senior lecturer at Stadio Higher Education. Image: Supplied
eNCA
6 days ago
- Climate
- eNCA
State of disaster now 'new normal'
MTHATHA - A catastrophe that will forever be etched into the history of the Eastern Cape. Nearly 100 people are confirmed dead, and it's unclear how many more are unaccounted for. Mother Nature has shown no mercy, with the majority of deaths in the recent floods being among the most vulnerable, women and children. The harsh impact of climate change is a phenomenon that is becoming more apparent to many of the poor. Port St John's, Coffee Bay, Nelson Mandela Bay, the OR Tambo District and other parts of the province have all been hit, with the extent of the damage amounting to billions of Rand. This massive devastation has brought fundamental change to the province and the country.
