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Business Recorder
a day ago
- Business
- Business Recorder
Pakistan's textile manufacturer approves revival strategy, eyes entry into IT sector
The Board of Directors of Bilal Fibres Limited, a textile manufacturer, has approved a business plan to launch an IT Division, anchored by a substantial Rs10 million investment. The listed company, which continues to face operational suspension, disclosed its revival strategy in a notice to the Pakistan Stock Exchange (PSX) on Monday. The company shared that its IT Division would target small and medium enterprises (SMEs) in Pakistan and the Middle East, with potential for global expansion. The division would offer a broad suite of services, including website and e-commerce platform development, mobile app development and MVP builds, IT support services, SaaS and subscription-based platforms and custom enterprise software for SMEs. The company aims to 'deliver cost-effective, high-quality IT solutions, capitalising on Pakistan's skilled workforce and strategic industry partnerships' with organisations such as P@SHA and PITB. Sharing the financial projections, the company anticipates annual revenue ranging from Rs12 million to Rs70 million, with breakeven targeted within 18 months and strong profitability expected within two years. Earlier this month, Bilal Fibres informed that it is now actively engaging with stakeholders, technical experts, and consultants to finalise a comprehensive business plan for its proposed entry into IT, health tech, and Electric Vehicle (EV) sectors. 'During the quarter ended 30th June 2025, the company's operations remained suspended, and no business activities were undertaken. However, as a first step towards revival, the Board of Directors (BOD) have approved the proposal to establish IT/health tech/EV division as a potential secondary line of business,' the Lahore-based company said in its notice back then. Established in 1987, Bilal Fibres Limited engages in the manufacture and sale of yarn in Pakistan. It offers poly/cotton, poly/viscose, CVC, viscose, and cotton yarns for weaving or knitting applications. The company also exports its products to Europe, the Far East, and the Middle East.
Yahoo
7 days ago
- Automotive
- Yahoo
Enphase Energy Ups Presence in Europe With IQ EV Charger 2 Expansion
Enphase Energy, Inc. ENPH recently stated that it has started shipments of its newest electric vehicle (EV) charger, the IQ EV Charger 2, to the markets of Greece, Romania, Ireland and Poland. Following its initial rollout in March 2025 across 14 European countries, the latest shipments mark ENPH's continued efforts in expanding the charger's presence in chargers activated in Greece, Romania, Ireland and Poland come with a five-year warranty and 24/7 customer support, ensuring long-term dependability. ENPH's EV Charger Prospects As companies and customers are prioritizing clean energy adoption, electric vehicle usage is on the rise. This expansion is fueling the demand for dependable, smart EV charging solutions, which are aided by government incentives and ongoing technological advancements that make charging more efficient and a Fortune Business Insights report, the global Electric Vehicle Charger Market is expected to witness a CAGR of 18.6% during the 2025-2032 period. Such a solid growth projection should bode well for Enphase Energy, which is a renowned manufacturer of next-generation EV chargers and is rapidly expanding its footprint in this market through valuable product launches and shipment July 2025, ENPH started shipments of its IQ EV Charger 2 to the markets of Australia and New Zealand. Opportunities for Other Stocks Other prominent players like SolarEdge Technologies SEDG, Canadian Solar Inc. CSIQ and TotalEnergies SE TTE are also expanding their footprint to reap the benefits of the growing Electric Vehicle Charger offers the Home EV Charger, a level-two charger that may operate independently or seamlessly link with the SolarEdge Home Hub, enabling up to 25% faster charging using pure, inexpensive solar Zacks Consensus Estimate for SEDG's 2025 sales implies an improvement of 17.7%. The consensus mark for its 2025 earnings per share (EPS), pegged at a loss of $3.29, implies a significant improvement from the year-ago reported loss of $ Solar's EP Cube is a complete energy storage system that enables consumers to improve the efficiency of electricity for self-consumption. It offers a diverse solution, with capacities ranging from 6.6 kilowatt-hours (kWh) to 19.9 kWh and compatibility with most contemporary PV systems, micro-inverters and EV Zacks Consensus Estimate for CSIQ's 2025 sales calls for an improvement of 4.3%. Estimates for its second-quarter 2025 EPS have moved up over the last 60 days. TotalEnergies offers a rapidly expanding public network of more than 2,700 EV charge points in prime locations across the UK, including London. It has already set up 300 EV fast-charging hubs across Europe, with plans to increase to 1,000 sites by has a long-term (three to five years) earnings growth rate of 7.3%. Estimates for its 2025 EPS have moved north over the last 30 days. ENPH Stock Price Movement In the past month, shares of Enphase Energy have risen 15.3% compared with the industry's growth of 13.4%. Image Source: Zacks Investment Research ENPH's Zacks Rank The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Scotsman
15-07-2025
- Automotive
- Scotsman
EV car grant returns with savings of up to £3750 on 'affordable' models
The EV grant is back, meaning electric cars are set to become more affordable. As private sales of electric cars stall, the Government has finally announced the relaunch of an Electric Vehicle (EV) grant scheme. The result will mean the price of a new zero-emissions car could be slashed by up to £3750. The Department for Transport (DfT) said the discounts could be applied to new EVs from Wednesday (July 16). Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Labour's new Electric Car Grant will be available on EVs priced under the scheme's £37,000 barrier. Importantly, only models from manufacturers that have committed to a 'Science-Based Target' (SBT) for carbon reduction and emissions, and have already showcased reductions, will be included. The scheme will operate on two tiers. The full £3750 discount will be available on cars deemed the most environmentally friendly. Other EVs not deemed 'green enough' will be discounted by £1500. Advertisement Hide Ad Advertisement Hide Ad So, what EVs would be available if they meet the sustainability criteria? Important to stress here, the government has yet to disclose exactly what the sustainability criteria will actually be, or how it will be measured. It has also yet to define the SBT's threshold figures. Kia EV3 Amongst those electric cars that slip in under the £37,000 threshold include the (priced from): Renault 5 E-Tech (£22,995) Fiat 500e (£25,035) Mini Cooper Electric (£26,905) Renault 5 E-Tech Renault 4 E-Tech (£26,995) Ford Puma Gen-E (£29,995) Peugeot e-208 (£30,150) VW ID.3 (£30,860) EV Charger Kia EV3 (£33,005) Volvo EX30 (£33,060) Omoda E5 (£33,065) Hyundai Kona Electric (£34,500) Cupra Born (£35,690) The £37,000 figures was chosen because, according to the government, 'it covers the more affordable end of the market, thus ensuring funding for the Zero Emission Vehicle transition can reach as many people as possible'. And it's worth highlighting that, with many manufacturers already heavily discounting electric cars, it's not out of the realms of probability that some carmakers will reduce the car's recommended retail price (RRP) in order for it to fall within the Government's £37,000 cut-off point. Advertisement Hide Ad Advertisement Hide Ad Across the UK, registrations of electric cars showed a near 26% year-on-year increase in May. Significantly, despite that growth, the shift toward EVs has been more substantial among fleets than individual consumers. Private buyers have been slower to adopt, primarily because of cost concerns. The new scheme will see the Government allocate £650 million in grants: that's enough to subsidise around 173,000 electric car purchases at the maximum grant amount of £3750 per car. This latest scheme comes three years after the previous Conservative government axed the Plug-in Car Grant (PiCG), which offered a fixed £1500 off list prices on EVs priced below £32,000. Following that, demand for EVs has fallen short of the target figures which were announced at the time. Not surprisingly, recently the car industry has called for support to stimulate the market, particularly for private buyers.
The Print
08-07-2025
- Politics
- The Print
Haryana minister Anil Vij seeks probe by CM Flying Squad into ‘corruption, gadar raj' in own departments
Speaking to The Print Monday, Vij described a 'Gadar Raj (reign of chaos)' in his departments, based on his observation since he assumed charge following the Bharatiya Janata Party's (BJP) third consecutive win in the state in October 2024. This marks the first time a Haryana cabinet minister has sought external scrutiny of his own departments, signalling deep concerns about systemic graft. Gurugram: Haryana's Energy, Transport and Labour Minister Anil Vij has turned the spotlight on his own departments in an unprecedented move, writing to the Chief Minister's Flying Squad Monday to seek a probe into alleged corruption in the energy and transport departments. Vij's letter to the CM's Flying Squad—a special police wing under state CID Chief Saurabh Singh which reports directly to the Chief Minister's Office (CMO)—called for surprise inspections at Regional Transport Authority (RTA) offices and power utilities under the Energy Department. The minister has demanded strict action against any officials or employees found guilty, underscoring his frustration with rampant irregularities. Vij's decision to invite external scrutiny stems from two primary concerns. First, he has been inundated with requests, often backed by ministers and senior officials, for postings as Motor Vehicle Inspectors (MVIs) in the Transport Department and Chief Electrical Inspectors (CEIs) in the Energy Department. 'I am surprised how posting as MVI or CEI helps keep them well,' Vij told The Print, highlighting requests from employees claiming health issues to seeking these posts. His suspicions were further fuelled by internal inquiries that revealed complaints of corruption linked to these roles. Second, Vij suspects large-scale corruption in these departments due to their direct public interface, where officials allegedly demand hefty bribes for approvals and certifications. 'Saare ke saare hi chor hain. Main ek chor ko doosre chor ki checking karne ke liye kaise kehta? (All are thieves in these departments. How could I ask one thief to probe another?)' Vij said, justifying his move to reach our to the CM's Flying Squad for impartial investigations. To curb further manipulation, he has halted all transfers in his three departments—Energy, Transport and Labour—until the state's new online transfer policy is fully implemented, a decision he announced via social media last week. The Print has reached out to Saurabh Singh, an IPS officer of the 1998 batch and an ADGP in Haryana Police, for a comment. This report will be updated if and when he responds. Vij's request to the Flying Squad, which operates under the Home Department overseen by Chief Minister Nayab Singh Saini, is notable because in October 2023, Vij had stopped clearing files of the Health Department under him because of the alleged interference of the CMO in his department after a CMO officer presided over a meeting in the department. Also Read: In CM Saini's tourism push, revival of Haryana Disneyland dream & echoes of INLD's failed 1989 proposal Complaints against MVIs & CEIs The MVI and CEI posts are at the heart of Vij's allegations, given their significant public-facing responsibilities and potential for illicit earnings. MVIs are responsible for ensuring vehicles meet safety, fitness, and pollution standards as mandated by the Motor Vehicles Act. They inspect vehicles for registration, insurance and compliance, checking components like brakes, lights and horns. They have the authority to issue fitness certificates, impose fines or seize vehicles for violations. The role's discretionary powers make it a hotspot for bribery, as vehicle owners often seek quick approvals or exemptions. CEIs ensure electrical safety and compliance with the Indian Electricity Rules, particularly for industrial and commercial installations. They inspect electrical setups when industries apply for new connections, verify documentation and investigate electrical accidents. Their role in approving high-stakes connections for businesses creates opportunities for graft, as approvals can be expedited or manipulated for a price. Vij's internal inquiries confirmed complaints of officials in these roles engaging in 'ulterior motives', prompting his call for external intervention. Haryana's anti-corruption watchdog The CM's Flying Squad is tasked with conducting surprise raids, investigating corruption complaints, ensuring punctuality in government offices, curbing illegal activities, like liquor and mining violations, and monitoring the implementation of state schemes. Led by Saurabh Singh, the squad has a history of uncovering graft in Haryana's administrative machinery. Vij's letter aligns with his reputation for taking a hard stance against corruption. Earlier this month, he ordered a state-wide probe into a work slip scam in the Labour Department, where 11,96,759 labourer receipts were verified between August 2023 and March 2025—a volume he deemed 'humanly impossible'. In Hisar alone, 1,45,582 receipts were verified, with one gram sachiv verifying 84,741 applications in three months, including 2,646 in a single day. Suspecting a scam worth hundreds of crores, Vij suspended guilty officials and halted payments. 'We give a plethora of welfare benefits to the families of construction workers, ranging from fees for studies of children, to cycles for them and many others. These unusual verifications alarmed me,' Vij told The Print. (Edited by Sugita Katyal) Also read: RTI activist sought details of govt tenders. Haryana govt buried him under 37,443 pages
Time of India
07-07-2025
- Automotive
- Time of India
Elon Musk says Trump ‘Used Me' for poll boosts — feud heats up with explosive claim amid new America Party
Elon Musk and Donald Trump are fighting again, and this time it's getting serious. Musk accused Trump of 'using' him when his popularity was high — said Trump did it to get better poll numbers, as per the reports. Musk said, 'The polling for me was very positive a year ago, which is why Trump used me so much.' The fight started when Trump signed a big spending bill, and Musk slammed it badly — called it 'pork-filled' and a 'disgusting abomination', as mentioned in the report by Irish Star. Musk starts a new political party Musk had warned earlier that if the bill passed, he'd launch a third political party. After Trump signed it, Musk launched the 'America Party.' Musk said the U.S. doesn't have a real democracy — claimed, 'We live in a one-party system… not a democracy.' as per the reports. Musk said the goal of America Party is to 'give you back your freedom.' Trump responded by roasting Musk on his platform, Truth Social — said Musk is now a 'train wreck' and has gone 'off the rails.' Trump mocked Musk for wanting to create a third party, saying they never succeed in the U.S, as stated by the Irish Star report. ALSO READ: Russia's elites in panic as Putin seizes empire of gold mogul Konstantin Strukov - private jet and passport seized Live Events Trump and others fight back Trump warned that third parties cause chaos, and said America already has too much chaos from the 'Radical Left Democrats.' Trump said Republicans are a well-run machine that just passed the 'biggest Bill of its kind in U.S. history', as per the reports. He also took a dig at Musk's Tesla business — said the bill eliminated the Electric Vehicle (EV) mandate, which Musk supported. Trump said he always opposed the EV mandate and was happy the bill killed the rule that would force people to buy electric cars, according to the report by Irish Star. Meanwhile, Trump's former Treasury Secretary Scott Bessent also attacked Musk — said Musk should 'focus on running his companies', as per reports. Bessent also joked that Dogecoin was more popular than Musk — 'The principals of DOGE were very popular… Elon was not, as per CNN report. Musk hit back — called Bessent a 'political science major who can't even do math', as mentioned in the report by Irish Star. FAQs Q1. Why is Elon Musk angry at Donald Trump? Elon Musk said Trump 'used' his popularity to boost polls and later mocked him after Musk started the America Party. Q2. What is Elon Musk's America Party? The America Party is a new third political party launched by Musk to oppose what he calls a broken two-party system in the U.S.
