Latest news with #construction sector
Yahoo
4 hours ago
- Business
- Yahoo
Bradford-based Oscrete acquires waterproofing specialist PUDLO
A Bradford-based concrete admixture firm has acquired a waterproofing specialist, in what a spokesperson called "a strategic move to diversify and strengthen" the business. Oscrete has acquired Peterborough-based PUDLO, which works in structural waterproofing and gas protection systems. Scott Wilson, director at Oscrete, said: "The acquisition of PUDLO aligns with Oscrete's long-term strategy of sustainable growth through innovation and strategic partnerships. "It is a significant milestone for Oscrete, and reinforces our commitment to delivering innovative, high-quality solutions to the construction sector. "PUDLO's product range will complement and enhance our current portfolio of concrete admixtures and open new doors to new market segments and regions, broadening our customer base and reinforcing our position in the construction industry. "Our acquisition of PUDLO marks a new chapter in our company's business. "The strengthened Oscrete business model and presence across the UK construction sector ensure this team, and this business, have the infrastructure and the expertise to become the leading supplier of high-performance concrete admixtures and additives in the country." PUDLO's waterproofing systems are currently specified in more than 120 active construction projects across the UK. The company has provided support and materials for such constructions as the National Gemstone Centre (in Derbyshire), the YAS Marina Viceroy Hotel (in Abu Dhabi), and "the world's tallest dancing fountains" (in Dubai). PUDLO was acquired in 2024 by Malcolm Thornton, managing director of UK Property Repair Group. Mr Thornton identified the company as a complement to his existing business, Preservation Treatments Limited, and supported its growth into 2025. UK Property Repair Group will retain a 25 per cent shareholding in PUDLO. Mr Thornton said: "Oscrete is well-positioned to take PUDLO to new heights, leveraging their expertise and resources, and enabling both operations to offer a broader spectrum of concrete admixture solutions, while expanding their customer base throughout the United Kingdom and Ireland. "As well as retaining a 25 per cent shareholding for UK Property Repair Group, we are looking forward to continuing the strong trading relationship between Preservation Treatments Limited and PUDLO as we move into this exciting new chapter." Oscrete was formed in 1983. In 2004, the company launched Osperse Performance Additives. Adcrete Ltd, the Northern Ireland distribution partner for Oscrete admixtures and additives, was formed in 2016. Oscrete was advised on the acquisition of PUDLO by Rob Burton at Castle Square Corporate Finance, and Amy Pierechod at Gordons LLP.
Bloomberg
2 days ago
- Business
- Bloomberg
China's Longer Bonds Fall on Bets Mega Dam May Support Economy
China's longer tenor government bonds fell amid waning demand for haven assets as investors saw the launch of a 1.2 trillion yuan ($167 billion) mega-dam project in Tibet providing more support to the economy. Futures on China's 30-year government bonds fell as much as 0.5% on Monday to hit the lowest in six weeks, while some of the nation's power and construction stocks jumped. The launch of the hydropower plant which is estimated to cost more than four times that for Three Gorges — world's largest power project — promises an economic jolt for sectors like construction, cement and steel and boost the economy.
Irish Times
5 days ago
- Business
- Irish Times
Workplace deaths at a record low, HSA report shows
Work-related fatalities dropped to 34 in 2024, according to the annual report of the Health and Safety Authority (HSA), published on Friday. The number of reported workplace deaths was down to 34, a drop of nine since 2023 and the lowest number of fatalities in a single year since the HSA was set up in 1989. The reduction in workplace deaths was attributed to significant improvements in workplace safety in the agriculture and construction sectors, according to the annual report. In 2024, the HSA conducted more than 11,600 workplace inspections and investigations across all economic sectors, with a particular focus on high-risk areas including construction, agriculture, manufacturing and healthcare. READ MORE The rate of fatalities per 100,000 workers decreased from 2.7 in 2015 to 1.2 in 2024. Agriculture, forestry and fishing accounted for 12 fatalities in 2024, all of which were farming incidents, representing more than a third of all fatalities from a sector employing just 4 per cent of the workforce. Water supply, sewerage, waste management and remediation activities accounted for five deaths, as did construction activity. Wholesale and retail trade, and the repair of motor vehicles and motorcycles accounted for a further five deaths. There were two deaths in transportation and storage; two deaths in accommodation and food service activities; and two deaths in administrative and support service activities. The mining and quarrying sector accounted for one death. A total of 31 deaths were of men, with three women. The HSA said vehicle-related incidents (10 fatalities), incidents involving heavy/falling objects (six fatalities) and falling from heights (five fatalities) were the leading causes of work-related fatalities in 2024, accounting for 64 per cent of all fatalities.
Forbes
6 days ago
- Business
- Forbes
Italy's Flat Tax Is Quietly Reshaping Its Real Estate Market
Aerial photo shooting with drone on Milan Center, the central business area of the city with new ... More skyscrapers and iconic Cathedral and square of Duomo While tax reform debates in the UK and the US continue to make headlines, one of the most consequential developments of the past years has played out more quietly – in Italy. The country's flat tax regime, first introduced in 2017 and increased to €200,000 in 2024, is rapidly repositioning Italy as a destination of choice for high-net-worth individuals (HNWIs). And the impact is now increasingly visible in the real estate and construction sectors. Globally, we are seeing record levels of wealth migration. In 2025 alone, more than 142,000 millionaires are expected to relocate, with the UK projected to lose around 16, by contrast, is expected to welcome approximately 3,600 of these HNWIs – a substantial number shift for a country that, until the introduction of its flat tax regime, had not featured prominently in global wealth migration trends Prime Property Demand Is Just the Beginning The most immediate impact has been felt in the real estate market. Milan, Rome, Florence, and lifestyle destinations such as Lake Como and Tuscany are experiencing rising demand for prime residential stock. Milan's residential prices rose 2% in the past year and have increased between 15 to 28% over the last five years, making it both the most dynamic and the most expensive property market in Italy. In the city's prime areas such as Brera and Porta Nuova, prices now exceed €15,000 per square metre. Energy-efficient new-builds average €7,250 per square metre, often selling out before completion. Demand is also accelerating in formerly overlooked districts like Bovisa and Lambrate, where prices rose by as much as 12% in 2025 alone due to regeneration and transport upgrades. However, this does not appear to be just a passing housing trend. Many of those relocating are putting down roots – setting up businesses, moving their families, and enrolling their children in local and international schools. Cities such as Verona, Bologna, and Turin, which have often been overlooked by global buyers, are also seeing more interest. . Developers are responding accordingly, with new investments flowing into Build-to-Rent (BTR) schemes, renovation projects, and new-build developments designed for long-term use. The focus is shifting from lifestyle to liveability – schools, services, infrastructure, and the everyday quality of life. A Predictable Framework, An Evolving Market What makes the flat tax regime so compelling is not just its cost – €200,000 annually on foreign income, plus €25,000 for each additional family member – but its predictability. Individuals can apply for advance tax rulings before relocating, providing rare legal clarity. Between 2017 and 2023, nearly 4,000 people joined the regime, and uptake has since accelerated. In 2023, 46% of participants also declared Italian-source income totalling €87 million. The regime's exemption of foreign-held assets from Italian wealth, inheritance, and gift tax makes it particularly appealing for long-term planning. For family offices, this framework offers stability in a region where tax law unpredictability can often be a deterrent. Real Estate Meets Broader Urban Regeneration The influx of international residents is also fuelling wider infrastructure demand – from international schools and healthcare to digital services and transport. This dovetails with Italy's €194.4 billion National Recovery and Resilience Plan (NRRP), funded by €71.8 billion in EU grants and €122.6 billion in loans. The NRRP is already funnelling €34.5 billion into sustainable mobility, €24.7 billion into renewable energy and waste systems, and €16.9 billion into energy efficiency upgrades for residential and public buildings. Southern Italy is also attracting renewed interest. Regions like Campania, Puglia, and Sicily are now part of the investment conversation. Rich in architectural heritage and natural capital, they offer value – but also regulatory complexity. For developers, this creates both opportunity and friction. For local governments, it signals the urgency of streamlining permitting and improving planning coordination. Challenges Ahead: Managing Growth and Public Perception Despite the momentum, structural challenges remain. Demand continues to outpace supply, especially in Milan's most desirable neighbourhoods, where properties often receive multiple offers and close within weeks. Developers face higher construction costs, lengthy permitting timelines, and increasingly complex energy-efficiency regulations, all of which raise barriers to delivery. Affordability is also becoming a concern. The inflow of international capital is driving up prices, widening the gap between local incomes and housing costs. Without a parallel response on the supply side, Italy risks deepening affordability pressures similar to those seen in other global cities. Administrative bottlenecks compound the issue. Permitting processes remain fragmented, with significant variation across municipalities. For international investors, this lack of consistency can undermine confidence and delay projects. Progress on regulatory reform and planning coherence will be key to sustaining investment. Public perception also matters. While the flat tax has succeeded in attracting wealth, it will only remain viable if it's seen to benefit the country as a whole – not just the few who use it. Clear reinvestment strategies and inclusive policies will be essential to to maintaining long-term support for the policy. Looking Ahead Italy's flat tax was never just about offering a financial incentive. At its core, the policy is meant to bring in people who will stay, contribute, and help reinvigorate the economy – not only in Milan or Rome, but across regions that have seen years of underinvestment. That original goal is now being tested. The increase to €200,000 for new applicants signals that the government still sees the scheme as worthwhile, even as it seeks more revenue. Whether the policy delivers in the long term will depend on what happens next. If Italy wants this early success to last, the focus needs to shift from attraction to integration. Housing must be available where people want to live. Schools, transport, and healthcare need to keep pace. And smaller cities must be given a real chance to benefit too. The flat tax has put Italy on the map for people who could choose almost anywhere in the world to live. Keeping them here – and making that presence count – is now the bigger task.
RNZ News
15-07-2025
- Business
- RNZ News
Trades apprentice numbers down, workforce shortage warnings
Only half the normal number of people are enrolled in plumbing, gas-fitting and drainlaying apprenticeships, according to Master Plumbers. Photo: 123RF Enrollments in plumbing and electrical apprenticeships have fallen significantly according to sector leaders, who warn of a workforce shortage when the economy begins to recover. Master Plumbers says there are half the number of apprentice plumbers this year than in previous years, while Master Electricians say apprenticeship rates are at their lowest levels since 2011. The warning comes as a survey of builder sentiment out this morning finds 50 per cent of builders are operating at less than half capacity. A trade apprentice learns on the job with an employer. Master Plumbers Chief Executive Greg Wallace, says the prolonged contraction in the construction sector is to blame, and jobs in Queensland ahead of the 2032 Olympics are luring qualified plumbers. He speaks with Kathryn, along with Master Electricians Chief Executive Alex Vranyac-Wheeler.
