Latest news with #Switzerland-based
Irish Independent
8 hours ago
- Sport
- Irish Independent
Mia Griffin claims victory in national road race cycling championships
Kilkenny woman Griffin, riding for the Switzerland-based Roland team, was part of a ten strong group that dominated proceedings for most of the race. This front group also contained last year's winner Fiona Mangan (Winspace Orange Seal), Caoimhe O'Brien (Cynicsa), Aoife O'Brien (DAS Hutchinson), Linda Kelly (Spin the Bean), Emma Jeffers (Liv AlUla Jayco), Lucy Benezet Minns (Lotto Ladies), Abi Conway of Westport Covey and Dan Morrissey duo Marine Lenehan and Aine Doherty. After a cagey affair for much of the day, defending champion Mangan put in a couple of attacks on the final of four 25km laps. This sparked several counter attacks from her breakaway colleagues, none of which stuck until Benezet Minns took off solo with around 12km to go. A strong time triallist, Benezet Minns opened a gap of 18 seconds as she passed through the finish line and went out onto the 9.4km finishing circuit. Her lead began to dwindle however as the nine chasers got their act together and worked hard to bring her back. Her advantage fell to ten seconds with 5km to go and the junior road race and time trial champion for the past two years was caught just inside the final kilometre. In the gallop for the line, Kilkenny woman Griffin used her track speed to blitz the sprint and take the title by a bike length from Caoimhe O'Brien, with Marine Lenehan taking the bronze. Emma Jeffers finished fourth to take the under 23 title from fifth placed Aoife O'Brien with Abi Conway taking the bronze in seventh place. After an impressive victory in the junior women's time trial championship on Thursday night, Aliyah Rafferty stormed to victory in the junior women's race, finishing over a minute and a half clear of Greta Lawless of Dawson racing who outsprinted Dungarvan's Aoife O'Donovan for silver. In the earlier junior men's race, Conor Murphy of Caldwell Cycles soloed clear of two breakaway colleagues to add the road race title to the time trial title he claimed on Thursday night despite an early bike change. Rory Condon of Zappi Racing took silver at 1:22, while France-based Darragh Byrne (AS Villemur Cyclisme) outsprinted Matthew Walls of Lucan for bronze 44 seconds later. James Armstrong, who had been in the three-man break until the dying kilometres took fifth ahead of VC Glendale teammate Toby Sweetman
DW
2 days ago
- Automotive
- DW
China's faltering economy in focus of WEF Tianjin meeting – DW – 06/27/2025
The world's second-largest economy is suffering from weak household consumption, and its auto industry is particularly vulnerable. Manuela Kasper-Claridge reports from the "Summer Davos" in Tianjin. "Even if we only walk, we are faster than others," says Sun as he laughs mischievously. He is using the run-walk imagery to describe the state of the Chinese economy compared to its competitors. The businessman had been doing well selling real estate in China. Still, he doesn't want to see his full name published because his business is currently not doing well. There are vacant properties all over, and many apartments are just too expensive. What about the future, what's next? Sun shrugs, suggesting that everything will turn out fine. The salesman in his fifties is hoping for some innovative signs from the government. Chinese Prime Minister Li Qiang is as optimistic as ever. He is speaking at the "Summer Davos 2025" conference in Tianjin, organized by the Switzerland-based World Economic Forum (WEF) and officially called the Annual Meeting of the New Champions. Around 1,700 participants from all over the world have traveled to the northern Chinese city and are listening with hope. China reported economic growth of 5.5% in the first quarter of this year. The second quarter also looks good, according to the Chinese premier. But many in China view the government's optimism with skepticism and prefer to save rather than spend their money right now. Walking through large shopping centers in Tianjin, it is impossible not to notice the nearly empty stores. Demand for watches, jewelry and designer handbags is low, and customers are few and far between. In the stylish showrooms of Chinese car manufacturers, most of the salespeople look bored as they stare at their mobile phones. The latest NIO electric car sits alone in its showroom. With no customers in sight, it doesn't look like anyone wants to give it a test drive. Even at a nearby hair salon, little is happening on a normal weekday. There are four stylists, but not a single customer. The lack of spending at home is hitting Chinese automakers particularly hard. Competition for market share is fierce, and because of that prices are in a free fall in some cases. Some brand-new vehicles are being sold at used-car prices, a practice called "zero mileage." "It is good for the consumers, they are getting cars at very reduced prices and get very advanced, competitive cars," says Killian Aviles, head of Asia Pacific Region for Dekra Group, a vehicle testing and inspecting company that is still doing good business in China with testing and consulting for the automotive industry. "At the same time the profit margins that the companies have, have been eroded," Aviles told DW. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Consolidation seems inevitable, and Aviles is not the only one who is convinced of this. "Only the strongest and healthiest will survive," he said. China could try and ease the situation by exporting more vehicles to Europe, but that would depend a lot on whether the Europeans allow such imports and do not further increase tariffs. Yet, a lot of experts don't think the Chinese economy's strong dependence on exports is a viable model for the future. "China actually realizes that the export-led growth era is over and, of course, it is still struggling with over-investment and excess production," says Diana Choyleva, a senior fellow at the Asia Society Policy Institute's Center for China Analysis. Choyleva, who specializes on China's economy and politics, is convinced that domestic consumption must increase to keep the economy going. At the same time, China wants to become a global market leader in as many industries as possible, and visitors are proudly shown select companies around Tianjin. The city is home to one of the world's busiest ports and is focusing on technology like robotics, among other things. One such company is the Siasun Robot factory, which uses the advertising slogan "Making the world better by Robotics." The company sells its industrial robots in 40 countries around the world, and its product range also includes robots used in the nuclear industry. However, its latest models aren't on display. Instead, they are only showing off standard machines like those used by the automotive industry. Still, the growth potential is enormous, a company production manager told DW. "Soon the robots will be building robots themselves," he enthuses. "Where will the people be then?" he asks rhetorically without answering. On the banks of the Hai River, which flows through Tianjin, many Chinese sit and enjoy picnics. Families with children, the elderly, and many young people are there, too. Some are dancing. At the same time, many restaurants around town are half-empty just like the shopping malls and showrooms earlier in the day. Perhaps the restaurants are just too expensive. Or perhaps right now many Chinese consumers would rather save their money for a rainy day. Whatever it is, their homemade food is likely just as tasty as anything they would get in a sit-down restaurant.
DW
2 days ago
- Automotive
- DW
China's falterung economy in focus of WEF Tianjin meeting – DW – 06/27/2025
The world's second-largest economy is suffering from weak household consumption, and its auto industry is particularly vulnerable. Manuela Kasper-Claridge reports from the "Summer Davos" in Tianjin. "Even if we only walk, we are faster than others," says Sun as he laughs mischievously. He is using the run-walk imagery to describe the state of the Chinese economy compared to its competitors. The businessman had been doing well selling real estate in China. Still, he doesn't want to see his full name published because his business is currently not doing well. There are vacant properties all over, and many apartments are just too expensive. What about the future, what's next? Sun shrugs, suggesting that everything will turn out fine. The salesman in his fifties is hoping for some innovative signs from the government. Chinese Prime Minister Li Qiang is as optimistic as ever. He is speaking at the "Summer Davos 2025" conference in Tianjin, organized by the Switzerland-based World Economic Forum (WEF) and officially called the Annual Meeting of the New Champions. Around 1,700 participants from all over the world have traveled to the northern Chinese city and are listening with hope. China reported economic growth of 5.5% in the first quarter of this year. The second quarter also looks good, according to the Chinese premier. But many in China view the government's optimism with skepticism and prefer to save rather than spend their money right now. Walking through large shopping centers in Tianjin, it is impossible not to notice the nearly empty stores. Demand for watches, jewelry and designer handbags is low, and customers are few and far between. In the stylish showrooms of Chinese car manufacturers, most of the salespeople look bored as they stare at their mobile phones. The latest NIO electric car sits alone in its showroom. With no customers in sight, it doesn't look like anyone wants to give it a test drive. Even at a nearby hair salon, little is happening on a normal weekday. There are four stylists, but not a single customer. The lack of spending at home is hitting Chinese automakers particularly hard. Competition for market share is fierce, and because of that prices are in a free fall in some cases. Some brand-new vehicles are being sold at used-car prices, a practice called "zero mileage." "It is good for the consumers, they are getting cars at very reduced prices and get very advanced, competitive cars," says Killian Aviles, head of Asia Pacific Region for Dekra Group, a vehicle testing and inspecting company that is still doing good business in China with testing and consulting for the automotive industry. "At the same time the profit margins that the companies have, have been eroded," Aviles told DW. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Consolidation seems inevitable, and Aviles is not the only one who is convinced of this. "Only the strongest and healthiest will survive," he said. China could try and ease the situation by exporting more vehicles to Europe, but that would depend a lot on whether the Europeans allow such imports and do not further increase tariffs. Yet, a lot of experts don't think the Chinese economy's strong dependence on exports is a viable model for the future. "China actually realizes that the export-led growth era is over and, of course, it is still struggling with over-investment and excess production," says Diana Choyleva, a senior fellow at the Asia Society Policy Institute's Center for China Analysis. Choyleva, who specializes on China's economy and politics, is convinced that domestic consumption must increase to keep the economy going. At the same time, China wants to become a global market leader in as many industries as possible, and visitors are proudly shown select companies around Tianjin. The city is home to one of the world's busiest ports and is focusing on technology like robotics, among other things. One such company is the Siasun Robot factory, which uses the advertising slogan "Making the world better by Robotics." The company sells its industrial robots in 40 countries around the world, and its product range also includes robots used in the nuclear industry. However, its latest models aren't on display. Instead, they are only showing off standard machines like those used by the automotive industry. Still, the growth potential is enormous, a company production manager told DW. "Soon the robots will be building robots themselves," he enthuses. "Where will the people be then?" he asks rhetorically without answering. On the banks of the Hai River, which flows through Tianjin, many Chinese sit and enjoy picnics. Families with children, the elderly, and many young people are there, too. Some are dancing. At the same time, many restaurants around town are half-empty just like the shopping malls and showrooms earlier in the day. Perhaps the restaurants are just too expensive. Or perhaps right now many Chinese consumers would rather save their money for a rainy day. Whatever it is, their homemade food is likely just as tasty as anything they would get in a sit-down restaurant.
Barnama
2 days ago
- Business
- Barnama
S Korea Vows Reform After Sharp Drop in Global Competitiveness Ranking
SEOUL, June 27 (Bernama-Yonhap) -- South Korea will strive to identify its weaknesses and transform them into opportunities for future growth, Acting Finance Minister Lee Hyoung Il said on Friday, stressing that the country's recent fall in the global competitiveness ranking should serve as a 'turning point.' South Korea was ranked 27th out of 69 countries in the 2025 World Competitiveness Ranking published by the International Institute for Management Development (IMD), marking a drop of seven places from last year's record high of 20th, Yonhap news agency quoted the Ministry of Economy and Finance. The IMD, a Switzerland-based business school, has issued the annual ranking since 1989, evaluating countries based on four key indicators; economic performance, government efficiency, business efficiency, and infrastructure.
New Straits Times
2 days ago
- Business
- New Straits Times
South Korea vows reform after sharp drop in global competitiveness ranking
SEOUL: South Korea will strive to identify its weaknesses and transform them into opportunities for future growth, Acting Finance Minister Lee Hyoung Il said on Friday, stressing that the country's recent fall in the global competitiveness ranking should serve as a "turning point." South Korea was ranked 27th out of 69 countries in the 2025 World Competitiveness Ranking published by the International Institute for Management Development (IMD), marking a drop of seven places from last year's record high of 20th, Yonhap news agency quoted the Ministry of Economy and Finance. The IMD, a Switzerland-based business school, has issued the annual ranking since 1989, evaluating countries based on four key indicators; economic performance, government efficiency, business efficiency, and infrastructure. "We will thoroughly assess and analyse the identified weaknesses to turn this into an opportunity to enhance our national competitiveness," Lee said during a policy coordination meeting with relevant government agencies and private-sector experts. In this year's breakdown, South Korea saw a sharp decline in business efficiency, falling to 44th place -- down 21 spots from the previous year. Addressing challenges in the corporate sector, Lee said the government would work to establish an innovation ecosystem to support the artificial intelligence (AI) transformation and develop a robust talent training framework. He added that the government plans to work closely with the private sector to tackle structural inefficiencies and promote digital innovation in an effort to improve future rankings.
