Latest news with #TheBigQuestion
Yahoo
a day ago
- Business
- Yahoo
‘In order to build the future of Europe, we need to focus on Africa', says AMDIE
Morocco had the fifth highest GDP in Africa in 2024, according to Statista. At the same time, S&P Global Ratings upgraded the country's credit rating to BB+ with a positive outlook, replacing the previously stable outlook. This gives the country the third highest rating on the continent, after Botswana and Mauritius, which are the only nations to achieve 'investment grade status'. According to S&P, the BB+ status denotes an expectation that 'the Kingdom will strengthen its track record of implementing reforms to support growth and reduce its deficits.' This aligns with the country's conscious efforts to attract foreign direct investment and establish itself as a gateway between Europe and Africa. In this episode of The Big Question, Euronews' business editor Angela Barnes is joined by Ali Seddiki, general director of the Moroccan Agency for Investment and Export Development (AMDIE), to discuss the country's future role in the global economy. As Europe grapples with competitiveness challenges and uncertainty over its future economic relationship with the US, it is crucial for the bloc to explore other strategic partnerships. 'When we discuss with our European counterparts, we understand that green and ESG-compatible industries are important for Europeans. They are also looking for additional cost-efficiency, competitiveness, and also for future markets,' Mr Sedikki told The Big Question. 'Africa is also the market of the future [...] and clearly we think that Morocco is part of the solution for the European companies.' Related Stability is the key to investment, says Moroccan Minister Zidane Morocco's Investment Charter, first introduced in 2022, seeks 'to raise the share of private investment to two-thirds of total investment by 2035.' The charter implemented investment support mechanisms, an improved business climate by simplifying processes and bureaucracy, improved governance so all regions can benefit, tax incentives and legal safeguards. 'It works on creating a suitable environment for investors, less bureaucracy, more efficiency,' Mr Sedikki explained. The country also created a Ministry for Investors and AMDIE 'to help investors and provide end-to-end services and we work as a one-stop shop for any kind of investor,' he added. Related The Big Question: What will it mean for Europe if Trump's tariffs resume? 'That would be a huge mistake', fashion alliance fears 'watering down' of environmental legislation Morocco has a growing green energy industry, with a particular focus on wind and solar. The Kingdom is aiming to source at least 52% of its electricity from renewables by 2030, positioning itself as a regional leader in the energy transition in Africa. 'What we want to make sure of is that this potential is used to positively impact the Moroccan economy,' Mr Seddiki noted. 'We have a great young population entering the job market, that's a huge opportunity, but also it's a challenge, we need to create jobs. So now the strategy is how can we leverage our natural, sustainable resources in order to create sustainable jobs for our young people entering the job market?' The Big Question is a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion with the Moroccan Agency for Investment and Export Development. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
a day ago
- Business
- Euronews
The Big Question: Why should Europe look to invest in Morocco?
Morocco had the fifth highest GDP in Africa in 2024, according to Statista. At the same time, S&P Global Ratings upgraded the country's credit rating to BB+ with a positive outlook, replacing the previously stable outlook. This gives the country the third highest rating on the continent, after Botswana and Mauritius, which are the only nations to achieve 'investment grade status'. According to S&P, the BB+ status denotes an expectation that 'the Kingdom will strengthen its track record of implementing reforms to support growth and reduce its deficits.' This aligns with the country's conscious efforts to attract foreign direct investment and establish itself as a gateway between Europe and Africa. In this episode of The Big Question, Euronews' business editor Angela Barnes is joined by Ali Seddiki, general director of the Moroccan Agency for Investment and Export Development (AMDIE), to discuss the country's future role in the global economy. As Europe grapples with competitiveness challenges and uncertainty over its future economic relationship with the US, it is crucial for the bloc to explore other strategic partnerships. 'When we discuss with our European counterparts, we understand that green and ESG-compatible industries are important for Europeans. They are also looking for additional cost-efficiency, competitiveness, and also for future markets,' Mr Sedikki told The Big Question. 'Africa is also the market of the future [...] and clearly we think that Morocco is part of the solution for the European companies.' Morocco's Investment Charter, first introduced in 2022, seeks 'to raise the share of private investment to two-thirds of total investment by 2035.' The charter implemented investment support mechanisms, an improved business climate by simplifying processes and bureaucracy, improved governance so all regions can benefit, tax incentives and legal safeguards. 'It works on creating a suitable environment for investors, less bureaucracy, more efficiency,' Mr Sedikki explained. The country also created a Ministry for Investors and AMDIE 'to help investors and provide end-to-end services and we work as a one-stop shop for any kind of investor,' he added. Morocco has a growing green energy industry, with a particular focus on wind and solar. The Kingdom is aiming to source at least 52% of its electricity from renewables by 2030, positioning itself as a regional leader in the energy transition in Africa. 'What we want to make sure of is that this potential is used to positively impact the Moroccan economy,' Mr Seddiki noted. 'We have a great young population entering the job market, that's a huge opportunity, but also it's a challenge, we need to create jobs. So now the strategy is how can we leverage our natural, sustainable resources in order to create sustainable jobs for our young people entering the job market?' The Big Questionis a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion with the Moroccan Agency for Investment and Export Development. UK house prices edged up slightly to 3.5% on an annual basis in May, up from 3.4% in April, according to Nationwide's latest House Price Index report. This was ahead of analyst estimates of 2.9%, pointing to a still-resilient UK housing market, despite cost challenges following stamp duty threshold decreases at the start of April. On a month-on-month basis, UK house prices jumped 0.5% in May, bouncing back from a -0.6% fall in April. This was more than the 0.1% increase expected by the market as well. The average UK house price was £273,427 (€324,232.5) in May, up from £270,752 (€321,053.7) in April. Nationwide's chief economist, Robert Gardner, said in the May house price index report on the company's website: 'Official data confirmed that there was a significant jump in residential property transactions in March, with buyers bringing forward their purchases to avoid additional stamp duty costs. 'Owner occupier house purchase completions were around twice as high as usual and the highest since June 2021, which was also impacted by stamp duty changes.' He also noted that mortgage approval data suggests market activity has remained resilient following the end of the stamp duty holiday, with underlying UK housing market conditions staying robust despite broader global economic volatility Alice Haine, personal finance analyst at online investment platform Bestinvest by Evelyn Partners, said in an email note to Euronews: 'While some buyers are clearly pushing ahead with their purchase journey, others may now be mulling their options more carefully as higher costs pose a fresh challenge. Lower stamp duty thresholds have the biggest impact on first-time buyers as they must now save enough to cover a potentially sizable tax bill in addition to their deposit.' She noted that this may encourage lenders to offer 100% mortgages to help first-time buyers get started on the property ladder, especially as several loan providers have already relaxed their requirements in an effort to draw more clients. Falling interest rates as the Bank of England loosens monetary policy somewhat has also helped borrowing conditions, although sticky-high inflation may slow progress. Businesses passing on higher employment costs to consumers, mainly because of changing US tariff conditions, could impact the housing market as well. 'Uncertainty is becoming the new normal and for many first-time buyers or home movers looking to refinance their existing mortgage soon, it may be better to push ahead with a purchase rather than wait for the ideal borrowing conditions,' Haine noted. "Plus, the traditional surge in listings at this time of year is a positive buyers can take advantage of, as a wider stock of homes to choose from raises the potential for heavier negotiation on price,' she added. According to a recent special report by Nationwide, average house prices in mainly rural areas have continued to grow faster than more urban areas, rising 23% between December 2019 and December 2024. This is compared to an 18% increase in mainly urban areas. Nationwide's chief economist, Robert Gardner, highlighted: 'The pandemic had a significant impact on housing demand during 2021 and 2022, with a shift in preferences towards more rural areas, particularly amongst older age groups. Whilst these effects have now faded, less urban areas have continued to hold the edge in terms of house price growth.' The report also revealed that among house owners who have moved in the last five years, 63% moved within the same type of area, mainly between large towns or cities. 9% of homeowners moved to rural areas such as hamlets or villages from towns and cities, whereas 7% did the opposite. Perhaps unsurprisingly, younger movers between the ages of 25 and 34 preferred to move to more urban localities, whereas older people, especially above 55 moved to more rural places.
Yahoo
26-05-2025
- Business
- Yahoo
Concrete just got a makeover and could slash the cost of housing in Europe
According to the European Commission, the construction industry in Europe provides 18 million direct jobs and accounts for about 9% of the bloc's GDP. It also produces roughly 250 million tonnes of carbon per year. That's more than the entire emissions of France in 2023 (216.7 million tonnes). With the EU Clean Deal's pledge to slash emissions by 90% by 2040, but the need for continued construction ever present, something needs to change. Concrete is the most widely-used material in the world, after water. So when deciding how to apply their innovative technology, despite it being applicable to bioplastics, regular plastics and paper, Paebbl opted to focus on concrete for maximum effect. In this episode of The Big Question, Angela Barnes sits down with Marta Sjögren, co-founder & co-CEO of Paebbl to discuss their technology which helps to trap carbon dioxide in concrete. 'Concrete is difficult to decarbonise because cement is difficult to decarbonise. Cement also, for various reasons, hasn't been really innovated on for quite a long time. There's really been no incentives,' Marta told The Big Question. But with the climate urgency, complex supply chains leading to rising prices and a general need for industrial resilience, the time is now. Paebbl has developed a technique which speeds up a natural process, which usually takes centuries, down to just an hour. Drawing CO2 from the atmosphere, the gas merges with magnesium silicates or calcium silicates to form a carbonate rock. This is then powdered down to create an industrial filler that can be mixed into concrete, reducing the quantity of cement needed in the mix. Every tonne of Paebbl's material stores up to 300 kg of CO2. Traditional cement emits around 600 kg of CO2 for every tonne produced, according to the IEA. Depending on how much of Paebbl's material is mixed into concrete, it could reduce the carbon footprint of concrete by up to 70%. 'The built environment, because it is such a huge source of emissions today, if you can flip that equation and if every single building can be storing a little bit of carbon as a carbon custodian, I think that goes a long way, both economically and environmentally,' Marta added. Related Hempcrete: The green brick taking on the challenge of climate change 'That would be a huge mistake', fashion alliance fears 'watering down' of environmental legislation Despite only being a 3 year old company, Paebbl has already made enormous leaps. They've received backing from Amazon and the world's biggest cement manufacturer, Holcim, and over the course of 3 scale ups, have grown 1000 fold. 'We've just completed our demo plant in record time. So industry average time is about two to three years for building up such a project. We built ours in about 15 months and also under the industry average budget as well, under 10 million euros. 'Now the next step is about scaling that up to an industrially sized production facility.' While Paebbl are still producing at a small scale, the cost of their material is currently higher than traditional concrete ingredients, however as they continue to grow and produce larger amounts that cost will reduce. 'We foresee that we will be quite price competitive and that's because we're using CO2, which is usually a waste stream, and as an input in the mix,' Marta explained. Plus as it's a negative emissions technology, there's no carbon tax to pay either. In the long run, Marta hopes this will help reduce the cost of housing in Europe. Though she did stress the need for regulation to support the testing of new materials and the speed at which they can come to market. 'I believe that private companies will be at the very centre of this, leading the way in terms of creating a blueprint for how you can use the built environment as a sustainability solution and also save money. 'But let's not forget, most concrete today is used by public spaces. So hopefully the public projects that are going to be built in the coming decade, or slightly more than a decade, will learn quickly from the private sector and also therefore enable the larger scale up of these technologies.' The Big Question is a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion on decarbonising the construction industry.
Euronews
26-05-2025
- Business
- Euronews
The Big Question: How can we cut house prices and keep using concrete?
According to the European Commission, the construction industry in Europe provides 18 million direct jobs and accounts for about 9% of the bloc's GDP. It also produces roughly 250 million tonnes of carbon per year. That's more than the entire emissions of France in 2023 (216.7 million tonnes). With the EU Clean Deal's pledge to slash emissions by 90% by 2040, but the need for continued construction ever present, something needs to change. Concrete is the most widely-used material in the world, after water. So when deciding how to apply their innovative technology, despite it being applicable to bioplastics, regular plastics and paper, Paebbl opted to focus on concrete for maximum effect. In this episode of The Big Question, Angela Barnes sits down with Marta Sjögren, co-founder & co-CEO of Paebbl to discuss their technology which helps to trap carbon dioxide in concrete. 'Concrete is difficult to decarbonise because cement is difficult to decarbonise. Cement also, for various reasons, hasn't been really innovated on for quite a long time. There's really been no incentives,' Marta told The Big Question. But with the climate urgency, complex supply chains leading to rising prices and a general need for industrial resilience, the time is now. Paebbl has developed a technique which speeds up a natural process, which usually takes centuries, down to just an hour. Drawing CO2 from the atmosphere, the gas merges with magnesium silicates or calcium silicates to form a carbonate rock. This is then powdered down to create an industrial filler that can be mixed into concrete, reducing the quantity of cement needed in the mix. Every tonne of Paebbl's material stores up to 300 kg of CO2. Traditional cement emits around 600 kg of CO2 for every tonne produced, according to the IEA. Depending on how much of Paebbl's material is mixed into concrete, it could reduce the carbon footprint of concrete by up to 70%. 'The built environment, because it is such a huge source of emissions today, if you can flip that equation and if every single building can be storing a little bit of carbon as a carbon custodian, I think that goes a long way, both economically and environmentally,' Marta added. Despite only being a 3 year old company, Paebbl has already made enormous leaps. They've received backing from Amazon and the world's biggest cement manufacturer, Holcim, and over the course of 3 scale ups, have grown 1000 fold. 'We've just completed our demo plant in record time. So industry average time is about two to three years for building up such a project. We built ours in about 15 months and also under the industry average budget as well, under 10 million euros. 'Now the next step is about scaling that up to an industrially sized production facility.' While Paebbl are still producing at a small scale, the cost of their material is currently higher than traditional concrete ingredients, however as they continue to grow and produce larger amounts that cost will reduce. 'We foresee that we will be quite price competitive and that's because we're using CO2, which is usually a waste stream, and as an input in the mix,' Marta explained. Plus as it's a negative emissions technology, there's no carbon tax to pay either. In the long run, Marta hopes this will help reduce the cost of housing in Europe. Though she did stress the need for regulation to support the testing of new materials and the speed at which they can come to market. 'I believe that private companies will be at the very centre of this, leading the way in terms of creating a blueprint for how you can use the built environment as a sustainability solution and also save money. 'But let's not forget, most concrete today is used by public spaces. So hopefully the public projects that are going to be built in the coming decade, or slightly more than a decade, will learn quickly from the private sector and also therefore enable the larger scale up of these technologies.' The Big Questionis a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion on decarbonising the construction industry.
Yahoo
15-05-2025
- Business
- Yahoo
Microsoft pledges more than 200 datacentres in Europe by 2027 despite geopolitical uncertainty
On 30 April, Microsoft announced its New European Digital Commitments, in a speech by the company's president, Brad Smith, in Brussels. In the commitments, Microsoft pledged to build a broad AI and cloud ecosystem across Europe, uphold Europe's digital resilience - even when there is geopolitical volatility - and, amongst others, strengthen Europe's economic competitiveness. However, in the current context, where much of the geopolitical volatility is coming from the US, is an American tech giant the right choice to be helping Europe? In this episode of The Big Question, Microsoft's vice chair and president, Brad Smith, joined Euronews' business editor, Angela Barnes, to discuss the company's latest plans. Brad's vision of Microsoft's purpose seems to be to 'provide technology that will make others, individuals and organisations, more successful.' As part of the group's plans to grow AI and cloud ecosystems in Europe, Microsoft has pledged to expand European data centre capacity by 40% over the next two years. This will mean more than 200 data centres in operation in 16 European countries. And while this development will bring with it the immediate employment opportunities, Brad was equally excited for 'the multiplier effect' for their customers and the economic benefits that could ensue. 'It is, I think, an engine of growth for what we like to describe as an AI economy: the economies of the world in an AI era. And I think we're just going to see AI as indispensable to almost everything that we, as businesses, as governments, as non-profits, want to do,' Brad told The Big Question. Related The Big Question: Is glass the answer to increasing data centre efficiency? The Big Question: What will it mean for Europe if Trump's tariffs resume? Whilst Microsoft's investments would be a great help as Europe struggles with competitiveness, it also shows the company's commitment to a continued presence across the bloc, no matter the geopolitical conditions. It's of course a mutually beneficial relationship. 'I don't think Microsoft would be the global success it is today without our longstanding presence in Europe,' Brad said. 'The truth is it's more than a quarter of our global business.' The 50 year old tech giant, founded in Albuquerque, New Mexico first launched its iconic word processing programme Word in 1983 and witnessed its first foray into the European market, offering the program in French and German. Paris was also where Brad personally started his Microsoft career, back in 1993. Related 'We built the traffic lights before the cars': What's holding Europe back over AI? Businesses set to fail if cyber resilience not most important thing says Splunk strategy head As part of their pledge to uphold Europe's digital resilience even when there is geopolitical volatility, Microsoft has added a clause to their agreements with European governments and the European Commissions to legally contest any power that tries to force them to suspend operations in Europe. 'I have every confidence that we would prevail in court. But we've also said that if we did not, we'll have a backup group of suppliers, partners here in Europe who'll have our code, our software code and our source code stored in a secure repository in Switzerland.' He hopes this will allay some people's fears around EU data security, while insisting that White House Officials have assured him this is not a move they're considering. When asked how Microsoft would react in the midst of a potential tariff war between Europe and the USA, Brad responded: 'We will take whatever comes and we'll help our customers adapt and we'll adapt. 'But mostly I want us to be a voice of reason that encourages the ties across the Atlantic that have been indispensable for eight decades now, since the end of the Second World War, to prevail, to use this as an opportunity for all of us in a way to step back and then recommit. 'Let's address the issues that bother people on either side of the Atlantic, but let's not forget how important these ties are, including for business.' The Big Question is a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion with Microsoft President, Brad Smith. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
