Since the beginning of the year, power theft and vandalization of electrical equipment in the city of Beira, Sofala province, has caused losses of 58 million meticais to Electricidade de Moçambique (EDM). "From January to the present, we have recorded more than 7,000 frauds," said the Director of EDM's Customer Service Area,...
Empresa Nacional de Hidrocarbonetos (ENH), the oil company owned by the Mozambican state, reversed its 2021 losses and made a profit of 461.9 million meticais last year. According to the accounts report, quoted by Lusa, ENH had recorded a net loss for the 2021 financial year of 153.1 million meticais,...
Brazilian aircraft manufacturer Embraer recorded a first-half net loss attributable to shareholders of 86.6 million euros, half (49%) of the loss attributable to the same period in 2022. In a half-year report released to the market on Monday, Embraer described its efforts to manage debt, increase revenue and grow sales as successful...
Moza Banco, led by the management company of the Banco de Moçambique workers' pension fund since 2016, managed to reduce the losses recorded in the first half of 2022, estimated at 129.1 million meticais, to 55.5 million in the same period this year. According to Moza Banco's financial statements, cited by Lusa,...
The Confederation of Economic Associations of Mozambique (CTA), the country's largest employers' organization, warned on Thursday of damage to the country's economy due to the wave of attacks on trucks transporting goods in South Africa. To this end, the private sector advocates reinforcing road safety. According to the deputy president of the CTA...
Portuguese airline TAP ended the first quarter of 2023 with a loss of 57.4 million euros. The information was communicated this Tuesday to the Portuguese Securities Market Commission (CMVM). However, the airline stressed that despite the loss, there was "a significant improvement when compared to the first quarters of 2022 and...
Electricidade de Moçambique (EDM) is counting losses in the order of 20 million dollars, around 1.2 billion meticais, due to the damage caused by the passage of tropical cyclone Freddy, in the city of Quelimane alone, said an official source. EDM's Executive Director for Business Development, Pedro Jossias, said...
The company Electricidade de Moçambique (EDM) recorded losses of around 50 million meticais due to the bad weather that has affected the country, the company announced today. Around 30,000 customers were left without electricity following the floods that have affected southern and central Mozambique since the beginning of February....
. This was the biggest loss since the 2008 financial crisis, when Credit Suisse suffered a loss of more than eight billion Swiss francs (8.1 billion euros). In the last quarter of 2022 alone, Switzerland's second largest bank recorded capital withdrawals of CHF 110.5 billion...
US aircraft manufacturer Boeing announced that in the first nine months of this year it made a loss of $4,390 million, which it attributed to its defense business. Between January and September 2021, the Chicago-based company had posted a loss of $126 million. In the first nine months of this year,...