Jaiprakash Power Ventures' second quarter revenue rose 5.1% year-on-year, while profit before exceptional items and tax climbed nearly 79%. A Rs 511 crore provision for a settlement with NARCL weighed on earnings this quarter. JP Power Ventures's consolidated net profit fell 81.7% year-on-year to Rs 33.34 crore in the quarter ended Sept 30, compared with Rs 182 crore in the year-ago period. The decline followed a Rs 511 crore exceptional charge towards a proposed full-and-final settlement with the National Asset Reconstruction Company Ltd. (NARCL) over a corporate guarantee furnished by the company for loans to Jaiprakash Associates. Net profit fell 81.7% to Rs 33.3 crore as compared to Rs 182 crore the previous year in the same period. Revenue from operations increased 5.1% year-on-year to Rs 1,512.12 crore from Rs 1,438.30 crore. Total income rose to Rs 1,579.34 crore from Rs 1,478.49 crore. The company's September-quarter earnings therefore reflect the impact of ...
Italy's PM Giorgia Meloni will fly to Washington to speak with US President Donald Trump regarding tariffs on Europe. The tariffs will potentially be a lethal blow to Italian exporters.
However, her counterparts from Europe feel she may be the only European leader Trump might be willing to listen to, since Trump had said that she is "a fantastic leader and person", when he invited her to this inauguration ceremony in January. Other European leaders have tried to change the US President's mind through various means - flattery, threats or promises to buy more American gas, but the talks reached nowhere.
Currently the European Union has three months to convince Trump not to slap 20 per cent duties on all its exports to the United States, apart from the baseline 10 per cent tariff with another 25 per cent on steel, aluminium and autos.
As Meloni speaks to Trump on Thursday, it is Europe's opportunity to show that they can still do business with the US. Moreover she herself thinks that Trump can be reasoned with and that his trade threats are just a negotiating tactic, per two Italian officials familiar with the government's political stance.
"Having Trump's ear is an asset for the entire European Union," an Italian official told Politico, underlining Meloni's "ideological affinities with the world of American conservative right-wing politics."
It's worthwhile to note that Italy has the third-largest trade surplus with the US as compared to other EU countries, standing at 40 billion euros. Its top exports are machinery, pharmaceuticals, vehicles, fashion, and food and beverages.
Nevertheless, there is a separate fear brewing in Europe. French President Emmanuel Macron warned that Trump's ultimate goal is to divide EU countries and force them to make bilateral deals with the US. French Industry Minister Marc Ferracci reacted to Meloni travelling to Washington saying Europe needed to stay united.
German politicians are also hopeful. "Meloni's trip to Washington right now is an important signal," said Johann Wadephul, from the likely next chancellor, Friedrich Merz's Christian Democrats. "The Italian prime minister has a good connection to U.S. President Trump, which she can now put to the service of Europe."
"Politics, like life, is built on personal relationships," said Marco Scurria, an Italian senator from Meloni's Brothers of Italy party. "It's better when such a complex negotiation is handled by two people who respect each other and can more easily reach a positive outcome - unlike with von der Leyen (the head of the European Commission)."
from NDTV News- Special https://ift.tt/ICHs3Vj
Comments
Post a Comment