| Bajaj Electricals rejigs business
After the main Bajaj Group led by Bajaj Auto, it is now the turn of the other extended family arm, Bajaj Electricals, to realign its businesses. Shekhar Bajaj, Chairman and Managing Director of Bajaj Electricals, is redefining responsibilities in the two most important units of the company. Under the plan, Anant Bajaj, Shekhar Bajaj's son, is set to take complete responsibility of the Rs 500-crore company's export-import businesses and its new arm, Bajaj International, which plays a crucial role in view of the company's outsourcing of goods from China. R Ramakrishnan, additional director at Bajaj Electricals, is being promoted to be executive director of the company. This would effectively define his role inside the boundaries of the company's electricals and electrical appliances business.The company has also proposed to enhance his salary from the current 1.5 lakh per month to a scale of 1.5-3 lakh per month in view of his new responsibilities, according to the company's annual report.
Student loan payback strategies
Second of three columns on personal finance for young people moving out on their own.
It's almost payback time for Rebekah Paine.
Paine, who graduated from Hofstra University in May, has about four months before she has to start repaying her $25,000 in student loans. Though she's put the matter on the back burner for now, Paine said she's apprehensive about shouldering the monthly bills.
.
Student loan payback strategies
Second of three columns on personal finance for young people moving out on their own.
It's almost payback time for Rebekah Paine.
Paine, who graduated from Hofstra University in May, has about four months before she has to start repaying her $25,000 in student loans. Though she's put the matter on the back burner for now, Paine said she's apprehensive about shouldering the monthly bills.
.
Boralex Improves Profitability Again in Second Quarter 2007
Boralex inc. ("Boralex" or the "Corporation") generated revenue of $32.4 million for the second quarter of 2007, an increase of 56% over the same period in 2006. At $6.2 million, earnings before interest, taxes, depreciation and amortization ("EBITDA") were up 27% over the same quarter in 2006. The increase in revenue from energy sales and EBITDA is partly due to a 28% increase in overall power generation, additional revenue of $4.6 million from the sale of RECs and an increase of about 3% in the average price per MWh. Including certain specific items (income tax adjustments and favourable change in market value of certain interest rate swaps), the Corporation recorded net earnings of $4.8 million or $0.15 per share for the second quarter of 2007, compared to $1.4 million or $0.05 per share for the same quarter in 2006.
Manulife Financial Corporation reports record second quarter earnings of $1.1 billion
Manulife Financial Corporation today reported record shareholders' net income of $1,102 million, an increase of 15 per cent over the second quarter of last year. Fully diluted earnings per share were $0.71, up 18 per cent from one year ago. As well, adjusted return on common shareholders' equity(1) was 18.5 per cent, an increase of 220 basis points. Second quarter premiums and deposits rose to $16 billion, an increase of five per cent over last year when considered on a constant currency basis. Growth was a result of continued strong sales and growth in recurring premiums and deposits. "The second quarter was a solid one for our Company," said Dominic D'Alessandro, President and Chief Executive Officer of Manulife Financial. "Our businesses continued to deliver strong earnings and sales growth and our return on equity hit a post-merger record.
GE Money & Electric & Gas Industries Association Help Homeowners Save Money, Improve Environment with Nationwide Solar ...
ST. PAUL, Minn.--(BUSINESS WIRE)--GE Money's Sales Finance unit and the Electric & Gas Industries Association (EGIA), a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions, recently announced a new multi-year relationship to provide revolving and installment consumer financing of residential solar systems through EGIA's GEOSmart Sustainable Financing Solutions loan program. .
IMF Executive Board Concludes 2007 Article IV Consultation with Morocco
On August 3, 2007, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Morocco.1 Background Macroeconomic conditions remain strong. Average growth has reached 5.4 percent per year since 2001, 3.4 percentage points higher than in the 1990s, reflecting the ongoing diversification of the nonagricultural sector, and its increased resilience to shocks. As a result, real per-capita income is on the rise and the unemployment rate has started to decline. However, bad crop years still impact the overall economic performance, as evidenced by the growth deceleration in 2007. The current account is expected to record its seventh consecutive surplus in 2007, thanks to strong remittances and tourism receipts.
County approves debt plan
The Pike County Commission voted on Monday to approve a debt consolidation plan that could get the county free of its non-bonded debt in 10 years, if not sooner.The consolidation plan will reduce the county's annual debt payments and could finally break the county free of a cycle taking out loans that has persisted unabated for years.“If we'll be careful in our budget process, we won't have to borrow money to finish out the year," said Robin Sullivan, county commission chairman.The plan consolidates about $3 million in debt from two county funds, the general fund and the gas tax fund. It will cut the annual payments to $114,980 on the general fund debt, from about $191,000. The annual payment on the gas tax fund debt will be cut to about $372,000 from about $450,000.The revenue saved under the new plan could allow the commission to finish the fiscal year without having to borrow money for the first time in six years.
|
