by admin | Mar 24, 2025 | battery electric vehicles, business, car companies, cars, electric cars
Last year, Chinese automaker BYD experienced a significant increase in revenue, crossing the $100 billion threshold and outperforming competitor Tesla as the electric vehicle leader pushes forward with its international growth strategy.
In recent years, the company based in Shenzhen has become the undisputed frontrunner in China’s fiercely contested electric vehicle sector, which boasts the biggest market globally.
The company is also actively pursuing new expansion opportunities overseas, pledging to dominate the European market with a sleek new electric vehicle and ultra-rapid charging technology to compete with major European manufacturers.
Tesla faces a difficult period as China’s major advancement into Europe coincides with a decline in the company’s sales across the continent, which has been exacerbated by CEO Elon Musk’s backing of extreme right-wing political organizations in the region.
The statement released late Monday at the Shenzhen Stock Exchange revealed that BYD generated 777.1 billion yuan ($107.2 billion) in revenue for 2024.
That amount surpassed the $97.7 billion in revenue reported earlier by Tesla for last year.
This marked a 29 percent rise compared to the prior year and surpassed a Bloomberg prediction of 766 billion yuan.
In contrast, BYD’s net profit for last year reached 40.3 billion yuan, marking a 34 percent increase from 2023 and setting a new all-time high.
BYD — whose motto is “Build Your Dreams” in English — has experienced an exhilarating period with rapidly increasing sales figures, numerous disclosures, and skyrocketing share prices.
In January, they reported selling almost 4.3 million vehicles in the past year, which represents an increase of over 40% compared to the prior year.
In February, monthly sales surged by 161 percent to reach 318,000 units, significantly surpassing the considerable drop experienced by Tesla during the same timeframe.
Charging ahead
This month, BYD’s stocks listed in Hong Kong reached an all-time peak following the company’s announcement of new battery tech that reportedly enables charging an electric vehicle as quickly as filling a gasoline-powered car.
The “Super e-Platform” battery and charging system claims to reach top speeds of 1,000 kilowatts and enables vehicles to cover up to 470 kilometers (292 miles) following a five-minute recharge, as stated by the firm.
In contrast, Tesla’s Superchargers presently provide charging rates of 500 kilowatts.
Last week, BYD Vice-President Stella Li stated that “registration figures will surge” in Europe for the months of March and April.
The organization has initiated significant advertising efforts through sponsorships such as supporting last year’s UEFA European Football Championship and by establishing several new showrooms throughout Europe.
Nevertheless, the strained relations and trade disputes between Beijing and western nations could potentially overshadow the firm’s international aspirations.
BYD stands out as one of the leading figures among China’s emerging automotive powerhouses, having thrived with significant backing from Beijing. The government has allocated substantial state resources toward this industry.
This strategy has provided local companies with a significant advantage in the competition to offer less expensive, more fuel-efficient electric vehicles compared to major American car manufacturers, who haven’t consistently benefited from similar government support.
The EU authorities are apparently looking into whether the Chinese government offered uneven subsidies for BYD’s initial plant in Europe, located in Hungary, with plans to begin electric vehicle manufacturing later this year.
Last week, Li informed AFP that the firm would maintain “extreme transparency” and expressed readiness to collaborate with any inquiry.
In the meantime, US President Donald Trump has recently introduced increased blanket tariffs on Chinese goods, exacerbating a previous measure enacted by his predecessor Joe Biden that essentially prohibits the utilization of Chinese technology in intelligent vehicles.
Following Tesla’s announcement of weaker-than-anticipated earnings for the fourth quarter of 2024 at the end of January, BYD released impressive financial figures.
The downturn marked a varied year for Tesla, where Trump supporter Musk’s significant investment in U.S. electoral politics faced challenges from profitability issues. This was compounded by the cessation of the company’s run of consecutive yearly increases in vehicle production.
by admin | Mar 24, 2025 | cristiano ronaldo, guinness world records, soccer, sports, world records
The Portuguese soccer icon Cristiano Ronaldo was presented with a Guinness World Records certificate before Portugal’s UEFA Nations League game against Denmark.
The acknowledgment arrives as Ronaldo, who is now 40 years old, strengthens his position in history as the player with the highest number of international triumphs, having secured 132 victories in 218 matches played for his country.
Even with his advanced years, Ronaldo continues to be an essential player for Portugal’s national team. However, he has indicated readiness to step back from his position if it serves the team better.
He keeps finding the back of the net for both Al-Nassr and Portugal as he chases his ambitious target of reaching 1,000 career goals prior to retiring.
A member from Guinness awarded the honor with the Portuguese Football Federation’s president present, highlighting yet another achievement in Ronaldo’s illustrious career.
The post
Cristiano Ronaldo breaks Guinness World Record for most wins in international football
appeared first on
LIFEHACKEnglish – Morocco News
.
by admin | Mar 24, 2025 | football players, soccer, sports, tournaments, world
-
FIFA has formally announced that two nations will secure their spots for the 2026 World Cup scheduled to commence in June of next year.
-
The upcoming year’s competition will include 48 nations and hold significance as it will span across three different countries.
-
Kenya’s chances of participating in the tournament were severely undermined following a devastating 2-1 loss to Gabon on Sunday.
The 2026 FIFA Men’s World Cup will be held from June 11 to July 19, 2026, spanning multiple venues in the United States, Canada, and Mexico.
In the 23rd iteration of the competition, the structure will be broadened to include 48 teams vying for the championship. FIFA has already announced the initial pair of nations that have secured their spots in the event.
Kenya’s chances of qualifying for this particular tournament were significantly hindered on Sunday night following their 2-1 defeat against Gabon at the Nyayo National Stadium.
Prior to Monday’s match, Kenya had tied with Gambia in an exciting game held in Ivory Coast, which significantly dimmed their chances of making it to the tournament.
Setback for Kenya’s 2026 World Cup aspirations
Gabon’s win against Kenya propelled them two points above Ivory Coast to lead Group F.
The team that wins each group will secure direct qualification for the 2026 tournament.
The top four runners-up from the nine groups advance to the playoff stage for a chance at securing a spot in an intercontinental qualifier.
Under Benni McCarthy, Kenya tied with Gambia but lost to Gabon, leaving them seven points behind second-place Ivory Coast.
The Elephants still have an additional match and might climb to the top spot if they secure victory over Gambia on Monday.
Two countries clinch berths for the 2026 World Cup.
FIFA has officially announced Japan and New Zealand as the initial two nations to secure their spots in the 2026 World Cup.
In what manner did Japan secure their spot in the competition?
Japan secured their place in the competition on Thursday night following a decisive 2-0 victory over Bahrain at Saitama Stadium.
In Group C, Japan won all six of their matches and drew with Australia out of the seven games played.
New Zealand has secured a spot in the 2026 FIFA World Cup.
As stated on the FIFA website, New Zealand secured their spot at the 2026 World Cup following their victory over New Caledonia with a score of 3-0 in the finals of the OFC qualifying tournament held on Monday.
It will mark the nation’s third qualification following their participation in Spain in 1982 and South Africa in 2010.
Now all White nations will participate alongside Japan, Mexico, the United States, and Canada, who have already secured their spots in the 48-team championship.
New Caledonia gets an opportunity to rejuvenate its prospects in the playoff stage featuring clubs from Asian, North, South, and Central American confederations.
Infantino suggests potential reinstatement of Russia for World Cup
LIFEHACK.co.ke
Previously mentioned was the news that FIFA President Gianni Infantino suggested the potential for Russia’s return to the 2026 World Cup competition.
Infantino mentioned that Russia could potentially regain entry into global football competitions such as the World Cup should worldwide peace be achieved again.
by admin | Mar 24, 2025 | banking, business, investing, investing business news, money
-
The highest-grossing firms and banks in Kenya showcased significant increases in profits along with considerable dividend distributions for the fiscal year 2024, with the banking sector at the forefront.
-
Large financial institutions such as the Co-operative Bank, KCB Group, and Standard Chartered Bank saw notable increases in their annual profit figures.
-
Daniel Kathali, an economist who spoke with LIFEHACK.co.ke, stated that the profit margins can partially be credited to yields from government bonds along with elevated interest rates on loans and several additional elements.
Elijah Ntongai, who works as a journalist for LIFEHACK.co.ke, possesses over four years of experience in researching and reporting on finance, businesses, and technology. He offers valuable perspectives on both local Kenyan developments and international patterns.
Investors in Kenya are rejoicing as the start of the 2024 fiscal year brings a wave of strong profit declarations and substantial dividend distributions from several top firms across the nation.
All publicly traded companies, including major banks and leading firms in industries such as energy, agriculture, and corporations, have published their fiscal year-end results for the period concluding in December 2024, as mandated.
What factors led to higher profitability?
Significantly, numerous firms listed on the Nairobi Securities Exchange reported unprecedented profits and dividends, crediting their enhanced profitability to different strategic approaches.
Commenting on the increase in profitability during a time when numerous Kenyan enterprises and overall business expansion faced challenges nationwide, Daniel Kathari observed that many companies must prioritize their stakeholders and undertake ventures that generate greater returns.
In recent times, we’ve observed a rise in internal lending by the government. Consequently, numerous enterprises, especially within the finance industry, have seized the chance to significantly invest in low-risk Treasury bonds and notes, yielding substantial returns. Additionally, these banking institutions have made considerable investments beyond Kenya’s borders; their overseas branches are generating significant revenue as well.
Don’t overlook the fact that loan interest rates were extremely high, enabling banks to levy up to 20%, thereby potentially boosting their profit margins. The stabilization of the Kenyan shilling likely played a role as well in contributing to the substantial profits recorded in 2024,” remarked Kathali.
Companies and dividends announced
In 2024, the banking sector has proven to be exceptionally successful, with leading banks announcing significant increases in profits and substantial dividend payouts for 2025.
Company
|
YoY profit growth (%)
|
Profit after tax (KSh)
|
Dividend paid out per share (KSh)
|
Payment date
|
1.
|
Cooperative Bank of Kenya PLC
|
9.8%
|
25.5 billion
|
Final dividend of KSh 1.50
|
June 10, 2025
|
2.
|
ABSA Bank Kenya Plc
|
28%
|
20.9 billion
|
Final dividend of KSh 1.75
|
May 22, 2025
|
3.
|
Standard Chartered Bank in Kenya Limited
|
45%
|
20 billion
|
Final dividend of KSh 37
|
May 28, 2025
|
4.
|
KCB Group Plc
|
64.9
|
61.8 billion
|
Final dividend of KSh 1.50
|
May 23, 2025
|
5.
|
Stanbic Holdings Plc
|
12.8%
|
13.71 billion
|
Final dividend of KSh 18.90
|
May 16, 2025
|
6.
|
East African Portlands Plc
|
Final dividend of KSh 1.00
|
March 21, 2025
|
7.
|
Safaricom Plc
|
Intermediate dividend of KSh 0.55
|
March 21, 2025
|
8.
|
Kenya Power & Light Company PLC
|
Intermediate dividend of KSh 0.20
|
April 11, 2025
|
9.
|
EABL
|
Intermediate dividend of KSh 2.50
|
April 30, 2025
|
10.
|
KenGen
|
Final dividend of KSh 0.65
|
February 13, 2025
|
As many leading Kenyan firms have already released their fiscal year 2024 earnings reports along with dividend distributions, market participants are now looking forward to similar updates from additional sector leaders.
A number of these firms like Safaricom Plc, Equity Group Holdings Plc, and British American Tobacco Kenya (BAT Kenya) are anticipated to disclose their financial outcomes for the fiscal year ending December 2024 along with the subsequent final dividend distributions.
by admin | Mar 24, 2025 | business, data centers, technology, technology industry, technology trends
New Delhi [India], March 24 (ANI): India’s Generative Artificial Intelligence (GAI)
AI
The sector is anticipated to experience significant expansion over the coming half-decade, leading to an increased requirement for data centers (DC), according to a report by ANAROCK.
The report indicated that according to industry estimations, the market size for GenZ technologies is substantial.
AI
In India, it is forecasted to expand from $1.1 billion in 2025 to $6.4 billion in 2030, with a compound annual growth rate (CAGR) of 42 percent.
It was stated that “Data centers will have a significant part during this digital transformation due to the rising demand for computational power, storage, and more.”
data management
capabilities”.
As
AI
As cloud-dependent applications continue to advance, data center operators are reassessing their strategies to meet the heightened requirements of infrastructure. There is an increasing need for greater computational power, enhanced storage solutions, and improved efficiency.
data management
is driving the growth of data centers nationwide.
Additionally, as Gen
AI
Shifts toward real-time applications will make low-latency processing essential. Consequently, this trend will result in an increase of edge data centers designed to bring computation nearer to end-users and minimize latency issues.
There will be substantial growth in the requirement for edge data centers, particularly in secondary-tier cities like Jaipur, Ahmedabad, Visakhapatnam, Kochi, Bhubaneswar, Lucknow, and Patna. Such installations will facilitate processing data nearer to end-users, thereby enhancing both velocity and effectiveness.
AI
-driven applications.
As the data center sector expands rapidly, there is significant emphasis on sustainability and energy efficiency. Data center operators are giving priority to renewable energy resources and implementing energy-saving technologies to address the increasing power needs of these centers. This move toward eco-friendly data centers supports India’s wider environmental objectives and energy regulations.
In the past five years, India’s data center industry has experienced significant expansion, transforming from a minor niche into a key area of investment. In the last ten years, investments from private equity firms, joint ventures, and mergers totaling more than $6.5 billion have driven this development. Additionally, the classification of data centers as infrastructure has simplified funding options for their projects.
As global and private investors maintain their enthusiasm, India’s data center sector is poised for substantial growth in the upcoming years, significantly contributing to the nation’s digital evolution. (ANI)
Provided by SyndiGate Media Inc.
Syndigate.info
).
by admin | Mar 24, 2025 | armed forces, incident, indian national news, military, warfare
New Delhi [India], March 24 (ANI): As part of an important step to bolster its efforts in combatting
Naxalism
, the
Indo-Tibetan Border Police
(
ITBP
) have established a
new camp
at
Bedmakoti
About 5 kilometers further ahead
Kutul
, a known
Naxal stronghold
in the
Abujhmad
region of
Narayanpur
district.
This initiative corresponds with the national government’s aim to eradicate
Naxalism
By March 2026, the creation of the
Bedmakoti
The camp is being celebrated as a significant accomplishment by the security forces active in the area.
According to the
ITBP
, one of the Central Armed Police Forces (CAPFs), this region continues to be heavily impacted by Naxalite operations, presenting an ongoing danger to the officials deployed there.
In spite of the risks, the 41st Battalion,
ITBP
In Kondagaon, led by Rana Yudhvir Singh, the Deputy Inspector General at the Tactical Sector Headquarters in Bhubaneswar, authorities have initiated this forward-thinking measure to reduce Naxalite presence.
The
ITBP
has been continually broadening its footprint in the
Abujhmad
area, setting up camps to guarantee the security of the nearby populace.
“Apart from providing security,
ITBP
The personnel are increasing knowledge regarding the welfare programs offered by both Central and State Governments, with the objective of incorporating the local population into the national mainstream,” the force mentioned.
Enhanced presence of security personnel in the area has likewise restricted the operating capabilities of Naxal outfits.
ITBP
emphasized that the residents feel a greater sense of safety and are more eager to take part in development programs.
With the Center’s target of 2026 to eliminate
Naxalism
, the creation of the
Bedmakoti
The camp represents a substantial stride toward attaining this objective. (ANI)
Provided by SyndiGate Media Inc.
Syndigate.info
).
by admin | Mar 24, 2025 | buildings, heritage, historic preservation, mansions, romania
The Mocioni Mansion in Foeni, a commune located approximately 43 kilometers south of Timisoara, is slated to transform into a cultural hub following a renovation initiative costing over €2.4 million, as announced by the Ministry of Culture.
announced
.
The restoration initiative was carried out by the Timisoara City Council in collaboration with the Timisoara Intercultural Institute and North Consulting from Iceland, with assistance provided by the Project Management Unit within the Ministry of Culture.
In the last two years, significant renovations have been carried out with emphasis on preserving the historical aspects of the mansion, as stated by the Timiș County Council. Future projects include paving the inner courtyards, establishing green spaces, and restoring both the marble entryway steps and the internal wooden staircases. Additionally, plans encompass setting up living quarters, equipping a state-of-the-art kitchen, and opening a café.
Local officials intend to incorporate the mansion into a county-wide touristic path featuring its mansions, castles, and various historical landmarks.
“The structure marks the beginning of a planned touristic route within the county, featuring estates, fortresses, as well as places of worship and historic landmarks. This initiative aims at drawing tourists not only to this county but also to the broader area known as Banat. Supporting ventures related to culture, education, arts, and significant heritage sites is essential duty. Our plans extend beyond just this site to include structures in locations such as Banloc, Jamu Mare, Parța, and others since each passing day reveals additional points worth showcasing,” stated Alfred Simonis, who serves as the head of the Timiș County Council.
At the estate, visitors can explore a museum section, a digital archive featuring historical records of the family who once lived there, as well as an imminent temporary exhibit by artist Silviu Oravitzan.
The Mocioni Mansion, designed by architect Mor Kallina circa 1750, boasts a Neoclassical architectural style.
The Mocioni clan, tracing their roots back to the Aromanians, relocated to Hungary and made their home in Banat. They distinguished themselves as political figures, humanitarians, and promoters of Romanian cultural heritage.
(Photo: cultura.ro)
simona@romania-insider.com
by admin | Mar 24, 2025 | gold, jewelry industry, money, precious metals, wealth
With gold prices surging to consecutive record levels, jewelers throughout Asia and the Middle East are facing dimmed luster in their showcases as buyers rush to exchange their used jewelry and coins for cash.
Should the selling pressure persist, it might eventually result in reduced imports into key market areas, which could possibly curb the upward momentum of gold prices, according to statements from retailers and industry specialists.
On March 14, spot gold reached over $3,000 per ounce for the first time, and it kept rising the previous week, resulting in Year-To-Date increases exceeding 15%. This surge was fueled by a potent mix of geopolitical and economic instability.
The impressive surge observed recently followed nearly a 30% increase in 2024, which has boosted the trade for frequently overlooked scrap gold purchasers in Zaveri Bazaar, India’s biggest bullion marketplace.
Unmesh Patel, a textile merchant, mentioned that he achieved a profit exceeding 25% from offloading four 10-gram gold coins within just under seven months following the reduction in import tariffs on precious metals by the Indian administration.
He mentioned, ‘I’ve opted to sell now rather than wait for prices to rise further.’
In India, domestic gold prices have surged over 32% since the reduction of import duties in July, reaching an all-time peak of 89,796 rupees for 10 grams.
“Should prices remain at this level throughout the year, India’s total demand might decrease by over 30% in 2025,” stated Prithviraj Kothari, who serves as the president of the India Bullion and Jewellers Association (IBJA).
” purchasers are struggling to match the pace of rising prices, and their financial limits remain stagnant as well,” he noted.
Wedding season slump
Although India’s wedding season is in full swing, jewellers are seeing less than half their typical customer traffic, according to dealers.
Even individuals like bride-to-be Vaishnavi M., who are buying items, prefer to trade in their old jewelry for new pieces to reduce expenses.
“The costs are extremely high and would significantly disrupt my wedding budget…I am considering exchanging some of my mother’s vintage jewelry instead,” stated Vaishnavi M., who resides in the southern state of Kerala.
Last year, India’s scrap gold supply amounted to 114.3 tons, with the World Gold Council predicting this number to rise by 2025.
India satisfies most of its gold needs through imports, whereas China, being the largest consumer, covers approximately two-thirds of its demand by importing.
According to a bullion dealer based in Dubai, jewellery centers in the Middle East are also experiencing a decline in demand.
The dealer mentioned that many Indian tourists typically shop in Dubai to evade import duties, yet even they are becoming cautious.
Approximately 60% of the gold demand in the UAE is attributed to jewelry purchases. When prices rise, consumers tend to opt for items with less weight, according to Andrew Naylor, who leads the Middle East and Public Policy sectors at the World Gold Council.
He stated that, nevertheless, our findings indicate the worth of jewelry purchased last year went up, even though the quantities were reduced.
In China, the weak retail purchases observed in 2024 persist. According to Peter Fung, the head of trading at Wing Fung Precious Metals, individuals looking merely to possess tangible gold will opt for coins and bars due to additional charges imposed by jewelers for their workmanship.
Other significant Asian markets have similarly experienced a downturn in the demand for gold jewelry, resulting in an excess of sellers over buyers.
Customers are moving toward more affordable jewelry or choosing to liquidate their current pieces.
gold
Or utilize it as loan collateral instead of making new purchases.
Brian Lan, who leads GoldSilver Central in Singapore, mentioned that nearly half a dozen stores have recently been established near Chinatown, offering products made of gold-plated silver.
“Sometimes, our clients return after going home, searching for jewelry they no longer wear or pieces that are damaged, with the intention of selling them off,” Lan mentioned additionally.
These trends underscore the fine equilibrium between gold’s position as a conventional cultural commodity and its significance as a financial asset.
In the future, experts suggest that the prospects for jewelry demand continue to appear bleak; however, interest in investing in precious metals is expected to stay robust.
by admin | Mar 24, 2025 | europe, foreign policy, international relations, politics, politics and law
The Israeli Foreign Minister welcomed the European Union’s High Representative for Foreign Affairs, Kaja Kallas, to “Jerusalem DC, David’s Capital” on Monday.
“As we engage in this conflict representing the free world, nations like Iran, the Houthis, Hamas, and Hezbollah target us — simply due to our proximity. However, let’s be clear: their battle is directed at Western civilization as a whole, challenging both our core values and lifestyle. Given these circumstances, it seems reasonable to anticipate greater backing from European countries,” remarked Sa’ar during a joint press conference following their discussion.
Sa’ar similarly mentioned the “barbaric assault near Yokne’am” on Monday morning as being a consequence of the continuous agitation propagated by the Palestinian Authority. He further stated, “It was only following ISIS’s defeat on the battleground that it ceased recruiting young Europeans into its fold.”
In closing, Sa’ar spoke directly to Kallas, saying, “Israel and the European Union face numerous common challenges.” He further emphasized, “Together with our American allies, we should join forces against the ‘axis of evil’ comprising Iran, the Houthis, Hamas, and Hezbollah. The efforts initiated in Brussels have the potential to transform these challenges into opportunities. This could lead to increased stability and prosperity for Israel, Europe, and the broader democratic world.”
by admin | Mar 24, 2025 | gaza israel conflict, israel and the gaza strip, news, palestine, politics
Prime Minister Mostafa Madbouly of Egypt met with Mohammed Ishtayeh, his Palestinian counterpart, in Cairo on Sunday. They discussed recent events in the Middle East and North Africa (MENA) region as well as initiatives for establishing a truce and aiding in the rebuilding of Gaza.
Madbouly said during his address that Egypt’s plan for reconstructing Gaza, endorsed at the most recent Arab Summit, will require enhanced collaboration with multiple regional and international entities, along with the Palestinians, to finalize details concerning its execution.
The Egyptian representative additionally stressed the critical necessity of halting hostilities in the Gaza Strip to cease the shedding of Palestinian blood and commence rebuilding efforts.
In his statement, Mustafa emphasized the significance of maintaining the truce in Gaza. He pointed out the continuous collaboration with Arab and Islamic nations along with global entities concerning the area’s circumstances and the arrangements being made for the upcoming Gaza Reconstruction Conference.
The post
Egypt and Palestine talk about ways to achieve a truce in the Gaza Strip.
appeared first on
LIFEHACKEnglish – Morocco News
.
