作者: admin

  • Vedanta Resources reports second-highest ever revenue and EBITDA in H1FY26

    Vedanta Resources reports second-highest ever revenue and EBITDA in H1FY26

    Vedanta Resources Limited (VRL), a global powerhouse in transition metals, critical minerals, energy, and technology, has announced exceptional financial results for the first half of fiscal year 2026. The company posted its second-highest revenue in history at $9.367 billion, representing an 8% year-over-year growth, driven by favorable commodity market conditions and sustained operational excellence.

    Financial metrics demonstrated remarkable strength with EBITDA reaching $2.752 billion, also ranking as the company’s second-highest performance, showing a 6% annual increase. The company maintained an industry-leading EBITDA margin of 36%, improving by 7 basis points year-over-year. Profit After Tax before special items grew 7% to $738 million, reflecting efficient operational management.

    The company significantly strengthened its financial position, reducing its Net Debt-to-EBITDA ratio to 2.0x while maintaining cash reserves of $2.628 billion. Return on capital employed remained robust at approximately 23%, highlighting disciplined capital allocation strategies. Vedanta successfully refinanced $550 million of high-cost debt, lowering overall interest costs to around 10% and extending average debt maturity to 4.5 years.

    Credit rating agencies recognized these improvements with S&P Global and Moody’s upgrading Vedanta’s outlook to Positive, while Fitch maintained its B+/Stable rating, acknowledging the company’s stable operational performance and prudent financial management.

    Operational achievements included substantial capital investments of approximately $900 million, resulting in record production across multiple segments. Aluminum production reached 1,222 kilotons (+1%), alumina output increased to 1,240 kilotons (+19%), while Zinc India’s mined metal production grew to 523 kilotons (+1%). Zinc International reported exceptional growth with production surging 44% to 117 kilotons.

    The company expanded its strategic mineral portfolio, securing three additional high-value critical mineral blocks, bringing its total allocated blocks to 11. Significant operational milestones included Konkola Copper Mines ramping up production to deliver 41 kilotons of metal in concentrate and 51 kilotons of finished goods. BALCO commissioned India’s most powerful 525 kA smelter, while the Lanjigarh refinery produced its first alumina from expanded facilities. Merchant power capacity increased to 4.2 GW with new asset commissions, and Hindustan Zinc enhanced production efficiency through the Debari Roaster commissioning.

  • Canada’s population drops for first time since the pandemic

    Canada’s population drops for first time since the pandemic

    Canada has experienced its most significant quarterly population contraction since the 1940s, with federal statistics revealing a decline of 76,068 residents between July and October 2025. This demographic reversal marks a dramatic shift from the record growth witnessed in 2022, when Canada’s population expanded by over one million people.

    The unprecedented decrease stems primarily from reduced numbers of non-permanent residents, including international students and temporary foreign workers. Statistics Canada’s preliminary data indicates this represents the largest quarterly drop since comparable record-keeping began in 1971. The contraction follows the federal government’s strategic decision to impose stricter limits on temporary residency permits.

    Finance Minister François-Philippe Champagne, speaking from Berlin during a European visit, characterized the adjustment as necessary to achieve “a more sustainable level” of immigration. “Our goal is to take back control over our immigration system and find a better balance between our capacity to welcome people and the number of people who want to come to the country,” Champagne told reporters.

    This policy reversal addresses mounting concerns that rapid population growth had exacerbated housing affordability crises, strained social services, and contributed to youth unemployment. The current administration under Prime Minister Mark Carney has continued the course set by predecessor Justin Trudeau, who acknowledged his government “didn’t get the balance quite right” when boosting immigration post-pandemic to address labor shortages.

    Ottawa now aims to reduce temporary residents from the current 6.8% of the population (approximately 2.8 million people) to just 5% by 2027. Targets for new temporary residents will be slashed from 673,650 to 385,000 next year, with further reductions to 370,000 planned for 2027 and 2028.

    The demographic shift has affected regions unevenly, with Ontario and British Columbia experiencing the most substantial population decreases. Only Alberta and the territory of Nunavut recorded growth during this period. Bank of Montreal senior economist Robert Kavcic noted that “a major population adjustment is well underway, and it remains one of the biggest economic stories in Canada.”

  • ‘You don’t need to be wealthy to give’: Indian expat honoured by UAE President

    ‘You don’t need to be wealthy to give’: Indian expat honoured by UAE President

    In a remarkable demonstration that generosity transcends financial status, Indian expatriate Sheikh Shakil has received presidential recognition for his exceptional charitable contributions to the UAE’s healthcare initiatives. The cable engineer from Mumbai, residing in Al Ain for over two decades, was personally honored by UAE President Sheikh Mohamed bin Zayed Al Nahyan for his sustained support of the Life Endowment campaign.

    Despite his modest income as a Taqa Transmission employee, Shakil made an impressive 42 separate donations to the healthcare initiative without establishing predetermined financial targets. His philanthropic philosophy centers on consistent, heartfelt giving within one’s means rather than substantial monetary contributions. ‘Financial wealth isn’t prerequisite for generosity,’ Shakil emphasized. ‘What truly matters is possessing a compassionate heart and genuine intention to assist others.’

    The Life Endowment campaign, launched in May 2025 as part of the broader Dh1 billion Healthcare Endowment established in 2024, works to create sustainable healthcare solutions and cover treatment costs for vulnerable patients with chronic illnesses. Shakil’s involvement began after learning about the program’s mission, leading to regular contributions made both personally and on behalf of his family.

    The expatriate attributes his charitable mindset to childhood lessons instilled by his parents regarding kindness, empathy, and community support. He now consciously models these values for his own children, demonstrating through action that even modest contributions can create meaningful impact. His meeting with the UAE President represented an profoundly moving experience that reinforced his belief in leadership characterized by service, empathy, and genuine care for citizens and residents alike.

    Shakil described the recognition ceremony as particularly powerful for showcasing how individuals from diverse backgrounds united in support of communal welfare, perfectly reflecting the UAE’s core values of compassion and social solidarity. He hopes his story will inspire others to contribute according to their capabilities, reaffirming that consistent small-scale generosity collectively generates substantial social benefit.

  • AI open alliance launched to pool resources for innovation and application

    AI open alliance launched to pool resources for innovation and application

    In a landmark development for artificial intelligence advancement, a coalition of China’s premier academic institutions and technology enterprises has established the Artificial Intelligence Open Alliance in Guangzhou. This collaborative initiative brings together 17 leading universities—including Tsinghua University, Peking University, Shanghai Jiao Tong University, Zhejiang University, and Beijing University of Posts and Telecommunications—alongside eight prominent technology corporations and research organizations.

    Operating under the guidance of the Ministry of Education’s Department of Science, Technology, and Informatization, this international, open, and nonprofit platform represents a strategic effort to consolidate resources for AI innovation and practical implementation. The alliance will serve as a coordinating body for major national AI research initiatives while developing an independent, controllable AI infrastructure system.

    Tsininghua University President Li Luming, who chairs the alliance, emphasized that this collaboration constitutes a significant measure to address national strategic requirements and establish leadership in global AI development. The alliance will concentrate on several core objectives: transforming educational methodologies, constructing innovative talent cultivation systems, organizing cutting-edge technological research, developing autonomous infrastructure, and facilitating international exchanges.

    Five specialized committees have been constituted to advance these goals, with leadership distributed among Tsinghua University, Peking University, Shanghai Jiao Tong University, The Chinese University of Hong Kong, and The Hong Kong University of Science and Technology. These committees will address critical domains including AI in education, research applications, fundamental engineering, ethical governance, and international cooperation.

    The alliance secretariat will be headquartered at Tsinghua University, providing administrative coordination for this comprehensive effort to build integrated application innovation, coordinated technology infrastructure, and interconnected governance systems.

  • Pakistani who beat Federer hopes to start a tennis revolution in his country

    Pakistani who beat Federer hopes to start a tennis revolution in his country

    Aisam-ul-Haq Qureshi, the legendary Pakistani tennis star who famously defeated Roger Federer in a 2009 doubles match, is now spearheading an ambitious campaign to transform tennis infrastructure and development in his cricket-dominated homeland. The former world No. 8 doubles player, who recently retired after a 25-year professional career, has assumed presidency of the Pakistan Tennis Federation with a clear mission: to build a sustainable tennis ecosystem from the ground up.

    Qureshi’s remarkable career included reaching the 2010 US Open finals in both doubles and mixed doubles, an extraordinary achievement for a player emerging from a nation with minimal tennis tradition. Now, he’s leveraging his international experience and connections to bring competitive opportunities to Pakistani players. Under his leadership, Pakistan recently hosted its first ATP Challenger event in Islamabad—a landmark moment for the country’s tennis history.

    In an exclusive interview, Qureshi outlined his strategic approach: bringing international tournaments to Pakistan rather than relying on sending players abroad. This method allows local players to earn ranking points and gain international exposure without the financial burden of constant travel. The federation has already secured seven International Tennis Federation junior tournaments for next year, with Pakistani juniors demonstrating immediate success by winning all five recent events.

    The greatest challenge remains infrastructure. Unlike cricket, which thrives in urban and rural spaces alike, tennis suffers from limited public facilities. Most courts are located in private clubs requiring paid memberships. Qureshi has devised an innovative solution: leveraging Pakistan’s explosion of padel courts (over 500 nationwide) to introduce mini-tennis programs for children aged 8-10, effectively creating new entry points for youth participation.

    Reflecting on his unique journey, Qureshi shared a poignant memory of his victory over Federer. The Swiss maestro surprised him by recalling their junior match from a decade earlier, noting Qureshi remained “the only Pakistani I ever played against.” This encounter symbolized Qureshi’s role as Pakistan’s solitary tennis ambassador on the global stage for over two decades.

    Despite opportunities to settle abroad, Qureshi remains committed to his mission. “I feel like my job is not done yet,” he stated, emphasizing his responsibility to develop the sport that gave him so much. Through securing wild cards for Pakistani players in international tournaments and continuing to expand domestic competitive opportunities, Qureshi is determined to create a lasting legacy that extends far beyond his own exceptional career.

  • The Oscars to leave ABC and stream on YouTube starting in 2029

    The Oscars to leave ABC and stream on YouTube starting in 2029

    In a landmark shift for Hollywood’s entertainment landscape, the Academy of Motion Picture Arts and Sciences has announced a revolutionary broadcasting partnership. Beginning in 2029, the prestigious Academy Awards ceremony will transition from traditional network television to exclusive global streaming on YouTube under a multi-year agreement extending through 2033.

    The historic decision, unveiled Wednesday, concludes the Oscars’ half-century broadcast relationship with ABC. The 2029 ceremony, scheduled for March 15, will mark the inaugural YouTube-exclusive event, offering worldwide viewers free live access without subscription barriers.

    Academy leadership framed the move as a strategic expansion of their global reach. “The Academy is an international organization, and this partnership will allow us to expand access to the work of the Academy to the largest worldwide audience possible,” stated CEO Bill Kramer and President Lynette Howell Taylor in a joint announcement. They emphasized the benefits for both Academy members and the broader film community.

    This seismic shift occurs amid industry-wide challenges including declining award show ratings, studio consolidations, and production cutbacks. The 2025 Oscars continued a concerning trend of viewership erosion that has similarly affected the Golden Globes and Grammy Awards.

    YouTube CEO Neal Mohan celebrated the partnership, characterizing the Oscars as “one of our essential cultural institutions” and promising to “inspire a new generation of creativity and film lovers while staying true to the Oscars’ storied legacy.”

    ABC acknowledged the transition gracefully, expressing anticipation for “the next three telecasts” remaining under their broadcast stewardship before the YouTube era begins.

  • Till Lindemann to perform in Dubai on January 4, marking his 63rd birthday

    Till Lindemann to perform in Dubai on January 4, marking his 63rd birthday

    German industrial metal icon Till Lindemann, renowned frontman of Rammstein, is set to deliver a powerful solo performance at Dubai’s Coca-Cola Arena on January 4, 2026. This highly anticipated event coincides with the artist’s 63rd birthday, making it a landmark celebration within his extensive Meine Welt Tour 2026 itinerary. The Dubai show stands as the tour’s exclusive Middle Eastern stop, marking his return to the city since his previous performance during the COVID-19 pandemic when health restrictions significantly constrained live events.

    Event organizers have confirmed the concert will feature Lindemann’s complete solo production, renowned for its dramatic theatricality and often controversial visual spectacles. This birthday performance is integrated into a massive global tour encompassing over 40 dates across Europe, Asia, and Australia, with scheduling specifically arranged to facilitate this celebratory event in Dubai.

    Beyond his monumental success with Rammstein, which has sold over 25 million albums globally, Lindemann has cultivated a significant solo career and is an established published poet. His recent creative endeavors include promoting his new photography book, ‘Der Rhein,’ and the re-release of his 2025 solo album ‘Zunge.’ This special edition features additional tracks such as ‘Meine Welt’ and ‘Prostitution,’ the latter’s music video—filmed within a Moldovan psychiatric hospital—has garnered substantial international attention for its provocative and stark imagery.

    The concert, organized by TicketOffice, will implement an age restriction, permitting entry only to attendees aged 18 and above.

  • Cheating charge added against Shilpa Shetty, Raj Kundra in Rs600 million case

    Cheating charge added against Shilpa Shetty, Raj Kundra in Rs600 million case

    In a significant development to an ongoing financial investigation, Mumbai’s Economic Offences Wing (EOW) has formally added cheating charges against Bollywood actress Shilpa Shetty and her entrepreneur husband Raj Kundra. The enhanced charges stem from an alleged ₹600 million (approximately $7.2 million) fraud case that has been under investigation since August.

    The case originated from a complaint filed by Mumbai-based businessman Deepak Kothari, who alleges he was systematically deceived in a complex loan-investment arrangement with the high-profile couple. According to legal representatives for Kothari, recent investigative findings provided sufficient evidence to warrant the additional cheating charge, potentially expanding the scope of the criminal probe.

    Financial records indicate the alleged misconduct centers around Best Deal TV Private Limited, a now-defunct home shopping and online retail platform where both Shetty and Kundra held director positions. The initial First Information Report (FIR) claimed that between 2015 and 2023, the couple persuaded Kothari to invest substantial sums totaling ₹600 million with promises of legitimate business returns.

    Kothari’s legal team has announced plans to approach India’s Enforcement Directorate (ED) to initiate proceedings under the Prevention of Money Laundering Act (PMLA). This would enable authorities to trace, identify, and potentially seize assets believed to represent proceeds from the alleged financial crimes.

    In previous statements, Kundra has defended the financial transactions, claiming significant portions of the funds were allocated as professional fees to other Bollywood personalities including actors Bipasha Basu and Neha Dhupia. He has additionally attributed the company’s financial difficulties to India’s 2016 demonetization policy, which he claims severely impacted Best Deal TV’s operations dealing in electrical and household appliances.

    The Economic Offences Wing continues to examine financial documentation and transaction records as the investigation progresses. Neither Shetty nor Kundra have issued public statements following the latest development in the case.

  • Mainland warns US against letting Taiwan separatists push confrontation

    Mainland warns US against letting Taiwan separatists push confrontation

    China has issued a forceful diplomatic warning to the United States regarding escalating tensions surrounding Taiwan, cautioning that American alignment with separatist elements risks creating a dangerous confrontation between the two global powers. The statement came from Zhu Fenglian, spokeswoman for China’s State Council Taiwan Affairs Office, during a Wednesday press briefing where she articulated Beijing’s growing concerns over recent developments.

    Zhu emphasized that Taiwan constitutes an internal Chinese matter that permits no external interference, directly criticizing what she characterized as the provocative actions of Taiwan’s administration under Lai Ching-te. The spokeswoman specifically referenced Lai’s proposed $40 billion supplementary defense package intended for weapons procurement from the United States, alongside recent American media speculation about China’s military capabilities regarding the island territory.

    According to Zhu, the current complex situation in the Taiwan Strait originates fundamentally from what she described as the Lai administration’s stubborn adherence to separatist policies and their continued collaboration with foreign powers to heighten tensions. She delivered Beijing’s unambiguous position that independence aspirations represent a ‘dead end’ while reaffirming China’s stance that reunification remains historically inevitable.

    The spokeswoman further condemned Taiwan’s Democratic Progressive Party (DPP) authorities for allegedly transforming island temples into venues for military preparedness briefings. Zhu characterized the reported series of 16 ‘civil defense safety guidelines’ sessions held at religious sites as a desecration of sacred spaces, accusing the DPP of converting places of tranquility into what she called ‘arms depots for stockpiling weapons and venues for beating the drums of war.’

    Zhu additionally accused the DPP of repeatedly obstructing cross-Strait religious exchanges while allegedly appropriating deities including Mazu and Guan Gong as instruments of political propaganda. She asserted that temple gatherings are being exploited to deceive voters and manufacture inter-community hatred, conduct which she claimed has already drawn substantial public criticism.

    The comments followed the US Senate’s December 11 passage of the PORCUPINE Act (Providing Our Regional Companions Upgraded Protection in Nefarious Environments Act), legislation designed to facilitate arms sales to Taiwan that received enthusiastic endorsement from the DPP administration. Zhu expressed strong opposition to the congressional push, demanding that Washington cease ‘arming Taiwan’ and refrain from interfering in China’s internal affairs.

    In her concluding remarks, Zhu urged American compliance with the one-China principle and the provisions established in the three China-US joint communiques. She warned that the DPP authorities, driven by self-serving separatist motives, appear willing to permit external forces to transform Taiwan into what she termed a ‘war hedgehog’ while reducing the island’s population to mere cannon fodder.

  • UAE school age cut-off rule: Children won’t lose a year, say relieved parents

    UAE school age cut-off rule: Children won’t lose a year, say relieved parents

    The United Arab Emirates has enacted a significant reform to its educational admission framework, announcing a pivotal shift in the age eligibility criteria for school entrants. Effective from the 2026-2027 academic year, the deadline for children commencing KG1 in institutions with a September intake will be extended from August 31 to December 31.

    This policy revision, ratified by the Education, Human Development, and Community Development Council, directly addresses a longstanding predicament faced by families. The previous August cutoff frequently placed children born in the subsequent months in an educational limbo—deemed too advanced for nursery programs yet ineligible for formal schooling, consequently forcing them to forfeit an entire academic year.

    The announcement has been met with profound relief and widespread approval from the parent community across the Emirates. Mousa Abdelkarim, a Jordanian expatriate, revealed he was contemplating relocating his family abroad to prevent his son from falling behind academically. He expressed immense gratitude, stating the change resolves a severe family dilemma and prevents an unnecessary separation.

    Echoing this sentiment, Mariam, a mother from Sharjah, celebrated the decision despite wishing for its earlier implementation. Another parent, Khawla from Ajman, hailed it as the ‘best decision,’ empathizing with the struggles of numerous mothers whose children had previously lost a year.

    The educational sector has strongly endorsed the move. Fatima Al Ram, a kindergarten teacher in Dubai, affirmed the decision is unequivocally in the best interest of a child’s holistic development. She emphasized that access to kindergarten is crucial for nurturing social, mental, and physical skills from an early age.

    The reform is the culmination of extensive public discourse and official deliberation, including a proposal from the Federal National Council (FNC). FNC member Saeed AlAaabdli had previously highlighted the challenges for parents of children born in the year’s final quarter. The new policy is viewed as a responsive and community-centric measure, designed to standardize admissions, ensure fairness across various curricula, and facilitate smoother student transitions between schools, without impacting current enrollees.