Latest news with #Suez
BBC News
3 days ago
- Business
- BBC News
Newton Heath tip to close for year-long upgrade
A tip will be closed for a year so "vital improvements" can be Street household waste and recycling centre in Manchester will close on 29 parking bays will be put in, more recycling containers will be added, and there will be a place for items that can be re-used rather than thrown away, the Greater Manchester Combined Authority said. The closure means Manchester will only have two tips open for much of the next 12 months, but residents will be able to use recycling centres in other boroughs free of charge. The Newton Heath tip will "no longer need to close for short periods throughout the day when full containers are moved and changed", the authority added. The changes "will allow us to collect more types of items for recycling and provide a better customer experience," said Andrew Bewicke from site management firm Suez. Listen to the best of BBC Radio Manchester on Sounds and follow BBC Manchester on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
Zawya
3 days ago
- Business
- Zawya
Egypt shows early signs of economic stabilisation amid global headwinds: HSBC
Simon Williams, HSBC's chief economist for Central and Eastern Europe, Middle East and Africa (CEEMEA), and Helen Belopolsky, the bank's global head of geopolitical risk, presented their outlook on Egypt's economy to clients and stakeholders during a series of exclusive briefings held last week at HSBC Egypt's Head Office. "Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are starting to fall. But while this means Egypt's rebalancing is now well underway, ongoing policy discipline will be key to complete the process, particularly with Suez revenues, the energy sector under pressure, and geopolitical risks still unresolved," Williams said. 'As global geopolitical dynamics continue to evolve, it is increasingly important for the businesses to adapt to persistent volatility, with Egypt's reform program well underway, the country is strongly positioned to capitalize on the opportunities emerging from today's shifting geopolitical landscape,' Belopolsky added. Todd Wilcox, HSBC Egypt deputy chairman and chief executive officer, commented, 'The fundamental opportunities in Egypt have shifted. Liquidity in the market is improving, and trade flows are starting to shift. New investors see Egypt as a manufacturing hub; this will help boost exports and reduce future foreign currency (FX) risk. For 44 years, HSBC has been a trusted partner to businesses in Egypt, and our commitment to their growth and success remains steadfast.' Addressing nearly 100 business leaders and clients in Cairo, Williams and Belopolsky emphasized that despite ongoing geopolitical headwinds, Egypt is showing early signs of economic stabilization. They noted that the country is currently halfway through an economic adjustment phase, supported by political stability and rising regional opportunities, which together are laying the foundation for renewed momentum. The briefings also served as a forum for participants to exchange perspectives on navigating the shifting global and regional landscape. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
29-05-2025
- Business
- Zawya
Egypt approves $388m in private renewable energy projects for direct industrial supply
Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, has awarded qualification certificates to four companies selected to operate under the country's newly adopted private-to-private (P2P) power agreement model. The initiative allows private energy producers to generate and sell electricity directly to industrial consumers, marking a transformative step in Egypt's energy liberalization strategy and commitment to sustainable development. The approved projects represent a combined capacity of 400 megawatts and total investments of $388m. Each company will build its own renewable energy power plant and supply electricity directly to industrial clients, while paying a transmission fee to the Egyptian Electricity Transmission Company (EETC). These agreements are structured with no financial burden on the state and do not require sovereign guarantees. Among the newly qualified projects, Neptune for Electricity Production and Sales will supply solar power to the Suez Steel Plant. AMEA Power will provide electricity from its solar facility to the Suez Canal Container Terminal and Bivar Group for Chemicals. TAQA PV is set to supply Ezz Steel through a hybrid solar and wind power station, while ENARA for Renewable Energy Services will generate electricity from a hybrid facility for both the Helwan Fertilizers plant and the Alamein Silicon Products Complex. Minister Esmat stated that the initiative is being implemented in line with Egypt's Electricity Law, which is designed to open the market to competition, enhance efficiency, and attract private investment. He emphasized that liberalizing the electricity sector is a key strategic step in building a dynamic, competitive energy market that reduces costs, improves service quality, and strengthens Egypt's role as a regional energy hub. The Minister highlighted that the P2P framework enables industrial consumers to secure reliable, renewable electricity while contributing to their climate goals. These projects will also allow companies to certify their clean energy usage and reduce emissions, facilitating access to green export markets. Esmat noted that the Egyptian Electric Utility and Consumer Protection Regulatory Agency had completed its review of qualification submissions from seven companies, each proposing 100-megawatt renewable energy projects. The evaluation process was conducted in collaboration with a global consulting firm and the European Bank for Reconstruction and Development (EBRD), which helped develop the regulatory guidelines and legal framework for the P2P agreements. He reaffirmed the Ministry's commitment to building a transparent and investor-friendly environment that enables both producers and consumers to actively participate in Egypt's energy transition. These efforts are integral to supporting the national green economy agenda, expanding renewable energy capacity, and modernizing the country's power infrastructure. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Economic Times
27-05-2025
- Automotive
- Economic Times
Wafer supplier Soitec withdraws mid-term, year-ahead guidance; changes CFO
French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand."Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities", it said in a statement, adding it will only guide on a quarterly expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the €121 million ($137.1 million) it reported last year. It also said in a separate statement that chief financial officer Lea Alzingre will step down with immediate effect and will be replaced by Albin Jacquemont, formerly the finance chief of divisions of French groups Carrefour, Suez and Darty. "(Jacquemont) has led major financial transformations and delivered significant value through operational performance improvement, cash-flow optimization and M&A execution," Soitec said in a statement. The group will address investors and analysts on Wednesday at 1200 GMT at an event to present its full-year earnings. It said in February it saw limited growth for 2026 and cut its 2025 guidance as semiconductor wafer customers in the automotive and consumer electronics industries hit the brakes on deliveries amid worsening market conditions. ($1 = €0.8828)
Time of India
27-05-2025
- Business
- Time of India
Wafer supplier Soitec withdraws mid-term, year-ahead guidance; changes CFO
French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand . "Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities", it said in a statement, adding it will only guide on a quarterly basis. It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the €121 million ($137.1 million) it reported last year. It also said in a separate statement that chief financial officer Lea Alzingre will step down with immediate effect and will be replaced by Albin Jacquemont , formerly the finance chief of divisions of French groups Carrefour , Suez and Darty. "(Jacquemont) has led major financial transformations and delivered significant value through operational performance improvement, cash-flow optimization and M&A execution," Soitec said in a statement. Live Events The group will address investors and analysts on Wednesday at 1200 GMT at an event to present its full-year earnings. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories It said in February it saw limited growth for 2026 and cut its 2025 guidance as semiconductor wafer customers in the automotive and consumer electronics industries hit the brakes on deliveries amid worsening market conditions. ($1 = €0.8828)
