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Timken Reports Strong Second-Quarter 2021 Results

Timken Reports Strong Second-Quarter 2021 Results
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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Government Small Savings Schemes: Know All About Them

The interest rates are calculated on a quarterly basis and reviewed periodically by the Finance Ministry
Most of us invest in some kind of small savings scheme with an aim to accumulate a good amount of money, which we would have otherwise spent in meeting our daily chores. And when the deposited money matures, we put it to some use such as house construction, buying household items, for children s higher education or their marriage. These government-backed schemes offer safe and attractive investment options to the public and mobilises resources for development projects in the country. Let s take a deep dive into these schemes. ....

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Timken Reports Record First-Quarter 2021 Results; Raises Full-Year Outlook

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NORTH CANTON, Ohio, April 28, 2021 /PRNewswire/
The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products,
today reported first-quarter 2021 sales of $1.03 billion, up 11 percent from the same period a year ago. The increase was driven by organic growth across most end-market sectors led by renewable energy and off-highway, as well as the benefit of currency translation and the Aurora Bearing acquisition. First quarter sales were up 15 percent from the fourth quarter.
Timken posted net income of $113.3 million or $1.47 per diluted share in the first quarter, versus net income of $80.7 million or $1.06 per diluted share for the same period a year ago. The year-over-year increase was primarily driven by higher volume, favorable manufacturing performance and lower selling, general and administrative (SG&A) expenses, partially offset by unfavorable mix and higher m ....

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Timken Reports Fourth-Quarter and Full-Year 2020 Results; Expects Strong Growth in 2021

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NORTH CANTON, Ohio, Feb. 4, 2021 /PRNewswire/ The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products,
today reported fourth-quarter 2020 sales of $891.7 million, down 0.5 percent from the same period a year ago, as the net impact of lower demand offset the favorable impact of acquisitions, currency translation and pricing.
Timken posted net income of $53.1 million or $0.69 per diluted share in the fourth quarter, versus net income of $113.5 million or $1.48 per diluted share for the same period a year ago. The year-over-year decrease in GAAP net income was primarily driven by the net unfavorable impact of special items (detailed in the attached tables), including pension remeasurements and discrete taxes. ....

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Finance ministry hiring actuarial services to assess retirement schemes

Finance ministry hiring actuarial services to assess retirement schemes
National
January 12, 2021
ISLAMABAD: The Ministry of Finance has decided to hire actuarial services from qualified actuarial firms to assess and determine the Retirement Benefit Schemes liabilities of the federal government as on June 30th 2020.
The federal government has a Defined Benefit (DB) Pension Scheme for all its civil servants. It also has a contributory provident fund scheme besides a post-retirement medical benefits. The scope of work for hired consultant firms include reports for pension, general provident fund and medical schemes of the federal government for both civil and military service for all forms of pension systems applicable whether Contributory Pension Funds or gratuities paid to contract employees. Scope of work also includes policy options for a new Defined Contribution Pension Scheme for the newly hired in the government. The Federal Government employs some 1.36 mill ....

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