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DGAP-News: AKASOL AG: Trotz Coronakrise weiter auf dynamischem Wachstumskurs: AKASOL erzielt 2020 Umsatzanstieg um über 40% auf 68,3 Mio. EUR finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
FBR refuses to write off PIA’s tax liabilities Business April 20, 2021 KARACHI: The Federal Board of Revenue (FBR) has refused to write off tax liabilities of Pakistan International Airlines (PIA) and reconciliation is a prerequisite to the proposed restructuring of the airline that posted around Rs35 billion losses last year, according to people familiar with the matter. The PIA is required to pay an outstanding amount of multiple years to the FBR, sources said on Monday. “Rs14 billion that doesn’t include late payment penalty is payable under federal excise duty (FED),” said a source. “The amount would be much higher if penalty five-time the FED payable is included.” ....
Gap between assets abroad, liabilities in February narrows compared to same month last year, reveals official data Yunus Girgin | 19.04.2021 ANKARA Turkey s external assets amounted to $248.9 billion at the end of February, up 3.4% from 2020, the Turkish Central Bank announced on Monday. The country s liabilities against non-residents during the same period rose 1.4% to $636 billion. The net international investment position (NIIP) – the difference between external assets and liabilities – was minus $387.1 billion, versus minus $404.5 billion over the same period in 2020. As a snapshot in time, the NIIP, which can be either positive or negative, is the value of overseas assets owned by a nation, minus the value of domestic assets owned by foreigners, including overseas assets and liabilities held by a nation s government, the private sector, and its citizens. ....
Denel cold shoulder as SAA, Eskom grab bailouts – SOE in ‘spiral of terminal decline’ - Biznews 17 March 2021 - Denel, the state-owned defence company, is in a spiral of terminal decline. It would seem that Denel, South Africa’s state-owned aerospace and military tech company, is heading the same way as other SOEs. ‘In the financial year ending in 2020 its losses were R1.9bn, mainly due to rising operating costs, which is often a sign of high management overheads’, writes Jonathan Katzenellenbogen. He adds that the last time the company made a profit was in 2016/17, ‘R282m, which amounted to about 3.5 percent of sales’. Financial issues has seen some of Denel’s highly qualified employees pack their bags, seeking work elsewhere. According to Katzenellenbogen, this is due to the company’s ‘inability to meet its payroll on time’ among other concerns. Former engineers are now working for competitors in the UAE and Saudi Arabia which, says the writer, ha ....
Risk.net Insurance quants increase risk-adjusted profits using novel hedging technique But there is no standard way for insurance companies to hedge the risk of variable annuity contracts. Two industry practitioners have put forward a new hedging method using protective put options. They estimate that the technique can improve risk-adjusted profits for insurers’ variable annuity portfolios by 60%. The improvement comes from two sources: more efficient use of options as a hedging tool, and a reduction in the capital charges for insurers. The approach is based on the assumption that a variable annuity can technically be seen as an option on the future value of the premiums. “The liabilities can be modelled as long-dated options and we use short-dated put options to hedge them. And we are framing how to calculate that hedge and optimise capital requirements,” explains Vivek Shah, who oversees investment and hedging solutions at Prudential plc in London. Shah ....