The Hokim of the Fergana region, Khayrullo Bozorov, held a meeting with a delegation from the Chinese company Hunan Zhongwei Group Co., Ltd, led by its head Chen Mingbo. The parties discussed further expansion of cooperation and the implementation of joint investment projects.
It was noted that this company is already involved in implementing large investment projects in the region, and the partnership between the Fergana region and Chinese investors continues to strengthen. Representatives of the Chinese delegation expressed gratitude for the favorable business conditions and noted the growing interest of Chinese entrepreneurs in working in this region.
Following the meeting, a number of investment agreements were signed aimed at developing the economic and tourism potential of the Fergana region, particularly with Hengtai LLC, established at the initiative of Chinese investors. These agreements provide for the creation of an industrial zone in Foshan, the construction of a modern shopping complex, a new zoo and tourist complex in the Fergana district, the building of a five-star hotel in Margilan, as well as the organization of high-quality cement and building materials production in the Uzbekistan district.
Furthermore, an agreement was concluded with the private enterprise Hengii qurilish materiallari invistitsiyalar LLC on the implementation of a construction materials production project. It is expected that the realization of these projects will provide hundreds of new jobs, strengthen the economic potential of the Fergana region, and increase its attractiveness as a tourist destination.
Armenia and the United States signed a circular agreement on strategic cooperation under the TRIPP project.
In August 2025, leaders from the United States, Azerbaijan, and Armenia signed a declaration indicating the start of drafting a circular document for the TRIPP project with Yerevan, Washington, and third parties. This initiative is aimed at building automotive, railway, and oil and gas infrastructure.
The TRIPP project connects the Nakhchivan region and Turkey via a 42-kilometer road that passes through a main part of Azerbaijan's territory through Armenian territory.
In May, representatives of the American engineering and consulting firm AECOM began studying the TRIPP site. This team came to Yerevan to work on behalf of the U.S. Department's Global Infrastructure and Investment Partnership Fund.
Residents in KwaZulu-Natal (KZN) are facing uncertainty as Eskom escalates its efforts to eliminate illegal electricity connections across the province. In Lion Park, residents attempted unsuccessfully on Wednesday to physically obstruct Eskom and police from entering their village to sever unauthorized power supplies.
Utility workers were actively engaged on Wednesday and Thursday, dismantling and seizing numerous transformers and cables that the Lion Park community in Pietermaritzburg had been using for power theft. Residents tried to block the road leading to Lion Park to prevent Eskom from enforcing a Pietermaritzburg High Court order mandating the disconnection.
This recent action followed a similar operation conducted in March at Hardingsdale Farm, locally known as Claridge, also situated in Pietermaritzburg. Eskom issued a statement on Wednesday warning that comparable operations would be implemented throughout the province in areas known for widespread illegal hookups.
Since the disconnections began, some residents in Claridge who can afford it have installed solar panels to maintain lighting and run household appliances. While Eskom lacks a precise count of villages with illegal connections, Dadewabo Mbhele, the Senior Manager for Customer Services, informed the media in Lion Park that intelligence gathering is underway to pinpoint these locations.
Mbhele confirmed plans to extend operations to other regions, noting that in other provinces, they have already disconnected farmers who have maintained illegal connections for extended periods. She emphasized that the goal of working with intelligence is to locate energy loss points to secure the network for paying customers.
Mbhele previously estimated in March that the utility suffers annual losses amounting to roughly R6 billion due to these illicit connections. During the Lion Park operation, some residents living in modern homes told the media they could afford legal bills but faced difficulties convincing Eskom to provide them with official connections. Mbhele explained that the inability to connect these households stems from the fact that their land is designated as agricultural rather than residential.
Eskom affirmed its commitment to supplying electricity lawfully and safely, replacing illegal links that jeopardize the stability and security of the power grid. Both Lion Park and Claridge feature properties with high-end residences.
Eskom noted that in Lion Park, electricity was illegally supplied to households numbering over 1,400 within the last twelve years. The area is predominantly composed of households classified under a high Socio-Economic Measure (SEM) who possess the means to cover service costs. These community members reportedly constructed extensive unauthorized infrastructure, including poles, lines, and transformers, to power approximately 1,400 homes.
The statement further detailed that these unauthorized connections are estimated to cause Eskom revenue losses surpassing R14 million each year. Eskom also suspects that some of the equipment used for these illegal connections may have been acquired unlawfully.
Eskom reiterated its legal duty, as stipulated by its electricity distribution license and the NRS 048 Code, to remove illegal connections and guarantee a safe and dependable electricity supply for all consumers. The utility stressed that illegal connections severely stress the network, heighten the danger of blackouts, and present serious safety risks to local populations.
The company's chairperson, Dr Mteto Nyati, cited in the statement, argued that the nation deserves reliable power, which can only be achieved through accountability and payment for services. He asserted that non-payment by both customers and municipalities hinders national progress, investment, and prosperity, stating that collective responsibility is necessary for a stronger South Africa.
Tembela Kulu, the General Manager of Eskom Group Investigations and Security, assured that the group would remain resolute in protecting its infrastructure. His teams will continue supporting the auditing and removal of illegal connections to safeguard Eskom's assets, maintain network integrity, and ensure employee safety.
Joyce Zingoni, Eskom’s Industry and Stakeholder Management Manager, reported that the combined approach of disconnecting illegal links, engaging with communities, and installing smart meters is producing favorable outcomes in combating theft and the culture of non-payment. She pledged continued execution of these activities until all illegal connections and network tampering cease, focusing on awareness, education, and removal.
The land in Lion Park is administered by the Azibuye Emasisweni Amaqhamu Community Trust, having been legally reclaimed from several farmers. The trust's chairperson, Mlungisi Khanyezi, mentioned that he and the trust's legal team were preparing an urgent application at the Pietermaritzburg High Court to seek an injunction against Eskom's disconnection efforts. However, when contacted on Thursday for an update, he stated he was in a meeting and would only be available after 1 pm, ultimately failing to answer calls or respond to WhatsApp messages.
The trust has urged the public to report any illegal connections anonymously through its crime line (0800 11 27 22), WhatsApp (081 333 3323), email (eskom@whistleblowing.co.za), or SMS Line (31090).
The net profit of the private bank South Indian Bank increased by 17.3% compared to the previous year in the fourth quarter of fiscal year 2027 (Q1 FY27), reaching 377.63 crore rupees. This growth was driven by an increase in net interest income and a reduction in provisions.
In Q1 FY27, the bank recorded a net profit of 377.63 crore rupees, compared to 321.95 crore rupees in the same period last year (Q1 FY26). Net Interest Income (NII), which is the difference between received and paid interest, grew by 23.05% year-on-year, amounting to 1025 crore rupees. However, other income of the bank decreased by 39% year-on-year, totaling 379 crore rupees.
The bank's Net Interest Margin (NIM) for the reporting period was 3.23%, higher than the 3.03% recorded in Q1 FY26. Provisions (excluding tax) decreased by 64.8% year-on-year, falling from 239 crore rupees in Q1 FY26 to 84 crore rupees.
During the quarter, the bank's retail deposits grew by 13.7% year-on-year, reaching 1.24 trillion rupees. The share of low-cost current account savings deposits (Casa) increased to 32.98% from 32.06% in Q1 FY26. Non-Resident Indian (NRI) deposits increased by 12.8% year-on-year, reaching 36,432 crore rupees. The total volume of gross advances grew by 17.01% year-on-year, amounting to 1.04 trillion rupees. Meanwhile, corporate segment loans increased by 12.4% year-on-year to 41,704 crore rupees, and gold loan segment saw a sharp jump of 43% year-on-year, reaching 7,484 crore rupees.
The bank's asset quality improved: the Gross Non-Performing Assets (GNPA) ratio as of June 30, 2026, stood at 1.38%, compared to 3.15% on March 31, 2026. The Net NPA ratio reached 0.26%, down from 0.68%.
P. R. Seshadri, Managing Director and CEO of South Indian Bank, noted that the bank's strategy continues to focus on stable profitability, high asset quality, a sustainable loan portfolio, and a robust retail liability portfolio. He added that the bank is refining its organizational structure and utilizing digital technologies to achieve business goals. Seshadri emphasized that there was consistent growth across all target segments during the reporting period, with the main focus being on attracting quality assets in areas such as corporate lending, auto loans, and gold loans. In line with the strategic intent of 'Profitability through growth in quality lending', the bank successfully attracted new low-risk loans, ensuring a balanced and healthy credit portfolio.
