Business

The Islamic Corporation for the Development of the Private Sector (ICD) signs MoU with China-Africa Development Fund

ICD and CADFund.JPGA memorandum of understanding (MoU) was signed on the sidelines of the landmark IsDB 42nd Annual Meeting in Jeddah, between the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group and China-Africa Development Fund (CADFund), a Beijing-based private equity firm and subsidiary of the China Development Bank which focuses on Africa

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Moody's: Foreign currency pressures will stabilise but loan risks will remain high

4700943662 cc35a88bd8 bMoody's Investors Service has analysed the Nigeria banking system in its latest Banking System Outlook

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Business growth remains high on the African boardroom agenda despite economic and socio-political headwinds

man 319286 1920PwC’s Africa Business Agenda report shows that 85 per cent of African CEOs are confident in their own company’s prospects for revenue growth over the next 12 months 

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PwC: Africa’s CEOs seize the opportunities that uncertainty brings

dion shangoCEOs will need to focus on their business strategies and processes and will be expected to play a part in the broader community

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Volvo Construction Equipment sales increase 30 per cent in first quarter

Volvo BM L60F AvestaBolstered by improving market conditions and the positive impact of its transformation program, Volvo Construction Equipment saw sales increase by 30 per cent in the first quarter of 2017


Improving market conditions in all regions except South America helped Volvo Construction Equipment (Volvo CE) report strong growth in sales, profitability, order intake and deliveries in the first quarter of 2017. 

“After years of tough market conditions, the Volvo CE business is growing again,” commented Volvo CE’s president Martin Weissburg. “Higher sales volumes linked with increased internal efficiency and a lower cost base helped us deliver good profitability levels during the quarter. Volvo CE is on the right track, the improvement plan is yielding results and there are further opportunities to improve the long-term competitiveness of the company.”

During the first three months of 2017 Volvo CE saw net sales jump by 30 per cent to SEK 16,163 M (SEK 12,452 M in Q1 2016). Operating income was also positively impacted, rising to SEK 1,617 M, up significantly compared to SEK 341 M in the first quarter of 2016. Operating margin also saw good improvement, at 10 per cent, compared to 2.7 per cent in the same period the year before.

In the first quarter of 2017 Volvo CE also enjoyed an increase in order intake, which rose by 34 per cent to 17, 487 machines, with increases in orders coming from all markets, but particularly China and Europe. Deliveries were also up 34 per cent during the period, to 16,369 machines.

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