Latest news with #Contact
Economic Key
a day ago
- Business
- Economic Key
Contact Financial Holding's Insurance Arm Reports Stellar 1Q 2025
Contact Financial Holding ( Egypt's leading non-bank financial services provider, announced today its consolidated financial results for 1Q25. The Group delivered a strong start to the year, boasting a solid 30% y-o-y increase in consolidated operating income, to reach EGP 475 mn, while net income surged by 306% y-o-y closing the first quarter at EGP 59 mn. 'Contact's strong first-quarter results reflect the impact of our strategic pivot toward higher-margin products and the resilience of our business model, supported by gradually improving economic conditions, The Group net income surged by an impressive 306% y-o-y increase, coupled with the exceptional performance from our insurance division, which recorded a 767% increase in net income to reach EGP 43mn.' commented Contact Financial Holding management. The financing division achieved strong results, with operating income growing by 14% y-o-y to EGP 372mn, Additionally, the division's net profit rose to EGP 27 mn, marking an impressive 33% y-o-y increase compared to the same period last year. Meanwhile, the insurance division continued to deliver record-breaking results. Insurance revenue surged by 73% y-o-y to reach EGP 619mn during Q1 2025, while gross written premiums (GWPs) grew by 54% y-o-y to EGP 1.07 bn, maintaining exceptional performance supported by strong results across both Sarwa Life and Sarwa Insurance. This growth contributed to a 242% y-o-y increase in the division's operating income to EGP 109mn, while net income from the insurance division recorded a remarkable 767% y-o-y surge, nearly 9x fold, to 43mn. Contact made strong strides in fintech, with ContactNow app, Egypt's first comprehensive digital financial platform. This momentum reflects the growing demand for Contact's digital financial solutions. A newly launched purchase journey now empowers customers with access to a broad range of financing products, enabling them to apply for loans directly through the app. Flexible payment options, both cash and installments, are also available, supported by strategic partnerships aimed at streamlining the overall user experience تم نسخ الرابط
Scoop
2 days ago
- Business
- Scoop
PSNA Congratulates Mercury Energy Abandoning Contract With Israel's Ormat
Palestine Solidarity Network Aotearoa is congratulating Mercury Energy's terminating its contract with Israel's Ormat Technologies to design the Ngatamariki geothermal power station near Taupo. PSNA Co-Chair Maher Nazzal says it appears Mercury has acknowledged the legal jeopardy of Israeli companies operating throughout the world. 'The International Court of Justice last year declared Israel's presence in the Occupied Palestinian Territories is illegal and called on everyone to stop giving 'aid or assistance' to Israel which will help it to maintain its illegal occupation.' 'Mercury's decision is in line the ICJ findings and we welcome it as a victory for the Boycott Divestment and Sanctions campaign to isolate Israel.' 'No New Zealand companies should have any dealings with Israel, either directly or indirectly.' 'Israel is a rogue genocide and apartheid state – a threat and an embarrassment to all of humanity,' Nazal says. 'But the Ormat contract with Mercury is not the only one. We are now renewing our calls on Contact Energy to do the same and cut its links with Ormat Technologies.' 'If Contact doesn't follow Mercury, then I'm sure many electricity consumers will take the Israeli connection in mind and so switch from Contact to Mercury.'
Axios
13-06-2025
- Entertainment
- Axios
Sci-fi movies that'll make you cry about your dad
Want to feel emotional about fatherhood this Father's Day? Watch sci-fi. The big picture: Sci-fi films often use fantastical plots to explore something deeply human: the love and heartbreak of the parent-child bond. Zoom in:"The Empire Strikes Back" is about interplanetary war — and unresolved daddy issues. "Interstellar" is about secret space travel — and the grief of being a dad watching your kids grow up. "Contact" is about extraterrestrial communication — and the power of a father-daughter bond. The list goes on. And there are plenty of sci-fi titles about motherhood, too — " Arrival" and " Terminator 2," to name a couple. Zoom out: What better way to capture the vastness of the parent-child connection than through the language of the cosmos? And at the same time, "parenthood is a very clean, direct way" to make stories with fairies, aliens or multiple dimensions "emotionally recognizable," says TV writer Marc Bernardin ("Star Trek: Picard," "Carnival Row"). "It also kind of lumps in with the feeling of being lost in a world bigger than you are, and trying to find some sense of comfort in that loss," he tells Axios. You don't have to be a parent to connect with the themes. FWIW: George Lucas wasn't a dad when he made the first couple of "Star Wars" films, and James Cameron didn't have children before the first two "Terminator" movies came out. Between the lines: There's a pattern worth noting. Many of these stories are haunted by loss — often a parent or child. You already know this if you watch enough movies and, in Bernardin's apt wording, "start to see the code of the matrix." From the writer's perspective, when you're more than 30 minutes into the movie about to crest into the second act, "we need to propel our hero out of the comfort of the womb," Bernardin says, speaking metaphorically. "How do we do that? Somebody's gotta go." Carly's thought bubble: Last year, pregnant and weepy during a sci-fi movie marathon, I realized how deeply the genre explores parent-child bonds. "Arrival" and "Dune: Part Two" are now two of my favorite films. (Yes, I'm a Denis Villeneuve fan.) The former is my biggest personal tearjerker, and I'm convinced that the latter — which I saw in theaters twice — encouraged my baby to kick for the first time. We're re-watching "Interstellar" for my husband's first Father's Day. And this line from Matthew McConaughey's character lingers with me: "Once you're a parent, you're the ghost of your children's future." OK, one more, from Anne Hathaway's character:"Love is the one thing we're capable of perceiving that transcends dimensions of time and space. Maybe we should trust that, even if we can't understand it." Father's Day movie picks Let screenwriter Colby Day ("Spaceman," "In the Blink of an Eye" out this year) be your personal Blockbuster salesperson with five of his recommendations for Father's Day sci-fi films: 1. "Contact" (1997) " Based on a story from one of the fathers of modern science writing, Carl Sagan, this explores the intersection of faith and science. The hero's entire journey is at its core the story of a father-daughter relationship." 2. "Children of Men" (2006) " What would our world look like without any children? Pretty bad! Clive Owen plays a reluctant hero and reluctant father figure in a sci-fi movie that also has enough action for the dads." 3. "Interstellar" (2014) "Our generation's 'The Odyssey,' a science fiction myth of epic proportions about a man leaving his family behind to hopefully save the world, and in the process nearly losing himself." 4. "The Mitchells vs. the Machines" (2021) " A really special father-daughter depiction and family film that also happens to have evil robots." 5. "A.I. Artificial Intelligence" (2001)
Daily News Egypt
10-06-2025
- Business
- Daily News Egypt
Egypt's Contact Financial names John Saad CEO, Said Zater becomes vice-chairperson
Egypt's Contact Financial Holding has appointed John Saad as its new managing director and chief executive officer, succeeding Said Zater who has become vice-chairperson of the group's board of directors, the company said on Tuesday. The leadership transition comes as the non-banking financial services provider reported that its total financing portfolio surpassed 21 billion Egyptian pounds for the 2024 financial year. The company also said its total lending since inception reached almost EGP 75bn, with gross written premiums for its insurance division nearing EGP 7bn. 'I am thrilled to join Contact Financial Holding and would like to extend my sincere appreciation to Said Zater for his visionary leadership, which has firmly positioned Contact among Egypt's top non-banking financial institutions,' Saad said in a statement. 'It is an honour to be part of this Group, which has achieved total lending of nearly EGP 75bn since inception. I look forward to driving excellence by building upon these achievements, prioritizing customer-centricity, and developing innovative financing solutions, while preserving the Group's strong foundation and deeply rooted values.' Saad joins Contact with over 20 years of commercial and marketing experience in the technology sector. His career began at a major Egyptian telecommunications company where he held several marketing and senior management roles. He has served as chief commercial officer for companies in Egypt, Qatar, Saudi Arabia and the UAE, and was also CEO of a digital entertainment platform in the MENA region. Saad is the co-founder and CEO of an AI-focused company, the statement added. Contact, Egypt's first licensed consumer finance provider, offers services through its financing arms, Contact Credit and Contact Creditech. Its services include a range of financing for auto loans, home interiors, education and green finance. Its AI-powered 'Contact Now' app provides real-time credit assessment and instant financing approvals. The group's offerings also include leasing, mortgage, and factoring services, supported by a network of 72 branches across Egypt, an office in Dubai serving Egyptian expatriates, and a regional subsidiary, 'Almasi', in Kenya. In capital markets, the company's 'Sarwa Securitization' arm closed its 45th bond issuance in 2024, valued at EGP 1.2bn. The total value of bonds issued in the Egyptian market and backed by portfolios generated by Contact has reached approximately EGP 30bn through 29 bonds. Contact has also been active in sukuk issuances. The company's insurance division, which includes Sarwa Insurance, Sarwa Life Insurance, and Contact Insurance Brokerage, reported gross written premiums nearing 7 billion Egyptian pounds by the end of 2024. Contact attributed its performance to its focus on digital transformation, driven by a team of more than 3,000 employees. Its digital platforms include the 'ContactNow' app and ' a specialised automotive platform which reached 1.2 million monthly users by the end of 2024. Forbes Middle East named Contact one of its 'Top 50 Fintech Companies in Egypt' for the second consecutive year.
North Wales Live
07-06-2025
- Health
- North Wales Live
DWP plans could see thousands of Universal Credit claimants lose almost £100 a week
The Department for Work and Pensions (DWP) has proposed new plans that could result in thousands of Universal Credit claimants losing nearly £100 each week. Disability Rights UK is battling against government proposals to eliminate access to the health component of Universal Credit, now referred to as the Limited Capability for Work and Work-Related Activity (LCWRA) element, for most adults aged 16-21. This would apply to those within this age bracket who claim the benefit independently. Campaigners argue that if the proposal is approved, almost 110,000 disabled young adults could lose nearly £100 each week, reports Nottinghamshire Live. Contact, a charity that assists families with disabled children, says that this could have a "devastating financial impact not only on disabled young adults who are not in Education, Employment or Training (NEET), but also on many who are in education or low-paid employment". It further states that DWP plans push "disabled young adults and their families further away from employment prospects and further into poverty". The Green Paper recognises that the government needs to "consider what special provisions need to be put in place for those young people where engagement with work or training is not a realistic prospect". The Secretary of State for Work and Pensions, Liz Kendall, stated in a speech on May 21: "Those with the most severe, life-long conditions that will never improve and who can never work will have their Universal Credit protected, including young people aged under 22." However, campaigners argue that the criteria for severe conditions have an "extremely high threshold". The proposed changes are set to take effect in the 2027/28 financial year. The Green Paper is also seeking views on extending Disability Living Allowance (DLA) to 18 year olds, rather than stopping it at 16, a move that has Contact's backing.
