Latest news with #marble
Yahoo
4 days ago
- Business
- Yahoo
New Discoveries Abound for Italian Marble and Fine Stone Companies
MILAN — Since the ancient Romans began excavating marble more than 2,000 years ago, the average price of Italian natural stone per ton has reached a record 1,016.4 euros. This new height is the culmination of a path intertwined with economic and geopolitical hurdles to which the sector has become accustomed. 'This achievement underscores how our product consistently ranks first in terms of material quality and craftsmanship,' trade show organizer Adolfo Rebughini, general manager of Veronafiere, told WWD. More from WWD Interior Designer Craig Anthony Longhurst Opens Furniture and Art Gallery EXCLUSIVE: Cabana Magazine Announces Kate Berry as First U.S. Editor These Italian Niche Brands Are Updating Made in Italy Credentials for the Chicago Collective Audience Veronafiere, in the Italian city of Verona, is gearing up to welcome 1,400 exhibitors from 50 countries and more than 50,000 operators and professionals from 150 nations to Marmomac, the international trade show for the stone supply chain. At Marmomac, which will take place Sept. 23 to 26, Italian white marble takes center stage as one of the most successful products internationally, Rebughini said. The demand for classic Italian marbles, from Carrara to Calacatta, is experiencing significant growth in the luxury construction sector, both in private settings and in the hotel and spa industries. Especially in China and the Gulf region where bright interiors contrast with the warm climates. Highly prized colored marbles are also in great demand: Rosso Verona, Travertine, Perlato di Sicilia, Pietra Serena, Trani Bronzetto, Palissandro Botticino and Porfido. According to fine stone industry consortium Confindustria Marmomacchine, exports of Italian stone materials in 2024 rose 3.8 percent in volume, reaching 2.1 million tons. In value terms, exports reached 2.18 billion euros, marking a 5.8 percent rise compared to 2023. Raw materials, which account for 21 percent of exports, increased by 10.7 percent, while exports of semi-finished and processed materials (which make up 79 percent of the total) grew by 4.5 percent. The U.S. is the industry's top market according to Confindustria Marmomacchine. In 2024, exports of processed Italian natural stone to the U.S. rose 14 percent to 542 million euros. Germany ranked second with 125.2 million euros worth of exports, down 1.7 percent, while France was up 9.5 percent to 115.6 million euros. Emerging markets like Saudi Arabia featured prominently with 84.5 million euros, surging significantly, up 37.2 percent. China was the top consumer of raw materials with exports totaling 229 million, up 27 percent, followed by India at 46.7 million, down 14.7 percent. Italian companies, in the meantime, are eagerly exploring new geographical areas that could serve not only as markets but also as sources of raw materials and partners for joint development. In particular, East Africa, where countries like Ethiopia, Kenya and Tanzania offer underdeveloped deposits and a rich geological diversity, are one such opportunity, Rebughini explained. The Middle East, particularly Saudi Arabia, is not only a major buyer but also a region investing in the exploration and development of its natural resources. Finally, in Latin America, there are countries that present a growing market for businesses. In particular, Brazil boasts more than 1,200 types of marble, quartz, granite and ornamental stones. Numerous Italian companies, he said, are already operating mining sites there. As a result, Veronafiere also organizes Marmomac Brazil in São Paulo, a leading trade fair for Central and South America, as well as for operators in the U.S. The 59th edition of Marmomac aims to highlight all the 'veins' of the storytelling of fine stone — from production, to technological advances and how it is refined from a raw block to finished material. In an effort to compete with more design-forward events, the 2025 layout of the The Plus Theater, the curatorial Pavilion of the fair, has been inspired by Swiss-French architect Le Corbusier's Plan Voisin, an urban model for the center of Paris, drawn between 1922 and 1925. Looking ahead, the marble and stone market exports to foreign markets are expected to rise 4 to 6 percent in value terms in 2025. Risks to that forecast include unexpected tariffs and, or a worsening geopolitical situation. It is challenging to make a realistic forecast today due to the uncertainty surrounding U.S. economic policy, Rebughini commented, adding that the recent EU tariff that fixed duties at 15 percent will still spur a decline in export volumes to the U.S. Best of WWD Green People: How Sustainable Material Entrepreneurs Move Differently Simple, Recycled, Local: Brandart's Sustainable Approach to Packaging A Polyester Alternative Launches to Market — Can It Transform the Textile Industry?
Yahoo
04-08-2025
- Business
- Yahoo
MCI Introduces the Elegance of Luxury White Marble with the Michelangelo Jasmine Collection
~MCI redefines luxury living with the graceful elegance of the Michelangelo Jasmine Collection, inspired by the purest expressions of nature~ BANGALORE, India, Aug. 4, 2025 /PRNewswire/ -- Marble Centre International (MCI), one of the largest importers and retailers of premium marble and natural stone in India, has set a new benchmark for luxury with its beautiful Michelangelo Jasmine collection. Originating from the scenic quarries of Turkey, this exquisite luxury marble is one of the most popular and beautiful options for customers due to its understatedly luxurious soft white tones and delicate veining patterns. Marble Centre International (MCI) showcases an extensive selection of premium Michelangelo Jasmine marble at its state-of-the-art Experience Centre in Jigani, Bangalore, which includes distinguished variants such as Jasmine White, Jasmine Grey, Jasmine White Linea, and the signature Michelangelo Jasmine. Exhibiting captivating interplays of soft white, mellow grey, and subtle copper veining, this thoughtfully assembled collection appeals to a diverse set of aesthetic sensibilities while delivering the highest standards of quality and stunning visuals for the discerning eye. MCI's Michelangelo Jasmine marble collection infuses sophistication into every space and bolsters its visual narrative, whether it is an expansive living area, a serene custom bathroom, or a stylish kitchen setting. Its gentle yet artful touch introduces a sense of calm and continuity, enriching interiors with a naturally elevated character. The Michelangelo Jasmine collection is on display and available to experience at the Marble Centre International (MCI) Experience Centre in Jigani, Bangalore. The collection can also be explored online on their official website. To access the catalogue or to schedule a consultation, interested customers can contact Marble Centre International. About Marble Centre International (MCI) Founded in 1989 and headquartered in Bangalore, Marble Centre International (MCI) is one of the largest importers and retailers of natural stones in India, with the most rigorous quality control measures in the industry, ensuring superiority and consistency in every slab. The brand is renowned for offering the most exquisite natural stones, sourced from the finest quarries around the world. With a curated product collection of over 600 varieties from over 42 different countries, MCI has a range that is unmatched in the industry. Today, it is the largest stockist of fully processed & finished marble slabs in the country and seeks to redefine spaces and be the definitive brand for Luxury Lifestyle Solutions. For more details, please contact:Phone no. - +91 98801 44544Email ID - info@ Photo: View original content to download multimedia:
Reuters
18-07-2025
- Business
- Reuters
Trump appointees pushed for marble in Fed renovation project
July 18 (Reuters) - President Donald Trump's appointees to a Washington project review board pushed the Federal Reserve five years ago to use more marble for a renovation project at its headquarters campus that the White House is now using as the basis for attacks on central bank Chair Jerome Powell, saying cost overruns and "ostentatious" features like the premium marble the Fed incorporated into its final design are evidence of mismanagement by the Fed chief. Documents from the Commission of Fine Arts, established by Congress in 1910 to review and approve certain building projects in the nation's capital, show the Fed proposed a glass curtain wall for part of the project. Such a design was in line with the Fed's view that the central bank "should become a more transparent organization," according to minutes from a January 2020 CFA meeting. The proposal met stiff opposition from commissioners appointed by Trump, who issued an executive order later that year calling for the use of classical architecture for public buildings in the capital "absent exceptional factors." He reissued that same order on the first day of his current term in office. At the January CFA meeting, Commissioner Justin Shubow argued that glass is "impermanent and fragile," and said the Fed's headquarters ought to look solid and permanent as befitting a bank building. Shubow joined fellow Trump appointees in supporting a proposal that the Fed's next submission include a design in "white Georgia marble." The non-Trump appointees voted that plan down, but six months later the Fed's architects returned with a new proposal that did include that marble, the commission's documents show. The renovation plan, opens new tab was finalized in 2021. The push by the Trump appointees for use of the marble was first reported by the Associated Press. Trump has lashed out at Powell almost daily over the fact the Fed has not delivered the lower interest rates Trump has demanded since his return to the White House in January. Earlier this week he discussed firing Powell with a group of House Republicans during a meeting at the White House, but after it was reported that Trump was preparing to do so he reversed course and said it was "highly unlikely" he would fire the Fed chief. The Federal Reserve Act prohibits firing Fed Board of Governors members over policy disputes, saying they may only be removed for "cause" - widely thought to mean malfeasance, neglect of duty or fraud. A recent Supreme Court opinion in a case involving Trump's dismissal of other federal officials sent a strong signal the high court would not allow to stand a firing of Powell for refusing to cut rates. In the weeks since, White House officials have begun to focus on the cost overruns at the Fed's headquarters project, opens new tab. Documents show it is about $600 million over its original cost estimate of about $1.8 billion. In a move that would seem to try to lay the groundwork for a causal dismissal, Director of the Office of Management and Budget Russell Vought last week sent Powell a letter, accusing him of mismanagement and demanding answers to a list of questions about the project. Powell on Thursday responded, saying "As explained on the Board's public website, we take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people." "We have taken great care to ensure the project is carefully overseen since it was first approved by the Board in 2017," he said.
Yahoo
18-07-2025
- Business
- Yahoo
Trump appointees pushed more marble in Fed building renovation White House now attacks
Trump Federal Reserve Renovation WASHINGTON (AP) — President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates. But the extensive use of marble in the building is, at least in part, the result of policies backed by Trump himself. As the Fed moved forward with plans to renovate its Great Depression-era headquarters in Washington during Trump's first term, it faced concerns in 2020 during a vetting process involving Trump appointees, who called for more 'white Georgia marble' for the facade of building. The Fed's architects said the central bank had wanted glass walls to reflect the Fed as a transparent institution, but three Trump appointees to a local commission felt marble best fit the building's historic character. Marble was added as a result, according to the minutes of the Commission of Fine Arts, which advises the federal government on architecture. The marble does not explain the roughly $600 million in cost overruns for the Fed headquarters and another nearby office building, now budgeted to cost $2.5 billion, which also includes the addition of an underground parking garage and new glass atria in the building's courtyards. But the roots of its extensive use further muddies the White House's attempts to use the renovation to paint the central banker as profligate spender as a possible pretext to removing him. 'I wouldn't be surprised if the result costs more' because of the added marble, said Alex Krieger, a Harvard University emeritus professor who was a member of the commission and participated in hearings on the Fed's proposal. Russ Vought, Trump's top budget adviser, cited 'premium marble' in a letter to Powell last week as an example of the 'ostentatious overhaul.' In a response late Thursday, Powell wrote that the project would 'use new domestic marble" for several reasons, including "to address concerns raised by external review agencies." The National Capital Planning Commission, which also reviewed and approved the Fed renovation project, has started an inquiry into how Powell oversaw the updates. 'The Federal Reserve's extravagant multi-billion dollar renovation happened on the watch of the Fed's leadership, and the Fed's leadership needs to own up for this mismanagement of taxpayer dollars – as well as its botched coverup job,' said White House spokesman Kush Desai. A Fed spokesperson declined to comment. There is an uncomfortable possibility that the fate of the U.S. central bank and its foundational role in the economy hinges on a dispute about renovation costs and architecture, one that could lead a broader legal battle as to whether Trump can dismiss a Fed chair he dislikes after the Supreme Court in May described the institution as having protections against an abrupt firing. Trump White House investigating renovation Trump, who has redecorated the Oval Office in gold leaf, has argued that inflation is not a concern, so the Fed can dramatically slash its rate to encourage more borrowing. But Powell and other Fed committee members are waiting to see whether Trump's tariffs lift inflation, which higher interest rates could help blunt. The Fed chair pushed back against criticism during a June congressional hearing that the renovation was lavish by saying some features were removed due to cost, leading the White House to speculate as to whether Powell deceived lawmakers or made changes to the renovation plans without getting additional approvals. At that hearing, Sen. Tim Scott, R-S.C., also cited 'white marble' as an example of extravagance. James Blair, a White House deputy chief of staff who was recently added to the planning commission, said Wednesday that he would send a letter to the Fed requesting any revisions to the project. His goal is to see whether Powell was accurate in his congressional testimony. 'He's either telling the truth or he isn't,' Blair told The Associated Press. 'If he's telling the truth, he can prove it by just submitting all the plans and revisions.' Trump said Wednesday that he's 'highly unlikely' to try to fire Powell unless there was what he deemed as 'fraud.' The attempt to remove Powell before his May 2026 term as chair ends could unleash a devastating financial blowback, as financial markets expect the Fed, with its mission of stabilizing prices and maximizing employment, to be free of White House politicking. The perception that the central bank would use its powers to serve Trump's political ends could lead to higher interest rates on the U.S. debt and mortgages, instead of the declines being promised by the president. Trump appointees push for more marble The 115-year old Commission of Fine Arts reviewed the plans for the renovation three times in 2020. Duncan Stroik, who was appointed to the commission in 2019 during Trump's first term, 'proposed an amendment requesting that the next submission include an alternative design in white Georgia marble, the same material used for the five existing buildings along the north side of Constitution Avenue,' the minutes of a Jan. 16, 2020, meeting said. Stroik 'does not think the proposed additions defer to the historic buildings as great marble edifices on an important street,' the minutes added. Stroik's amendment was voted down, but the commission didn't fully endorse the Fed's plans. The architects presented new plans in May 2020, though those didn't appear to satisfy Trump's appointees. Some commissioners 'continued to object to the addition as a glass box that is reminiscent of a commercial office building, glowing at night, that would present an unacceptable contrast to the solid masonry architecture of the historic building in its monumental context,' the commission wrote in a May 2020 letter to a Fed official. By July 2020, however, the Fed's architects came back with a new proposal, which included 'panels of white Georgia marble" which would be used for the 'base, cornice, and other details, consistent with the historic building," the commission's minutes said. Neoclassical vs. modern designs Stroik, now a professor of architecture at the University of Notre Dame, said in an interview that 'stone buildings don't necessarily have to cost a fortune.' But he acknowledged that the commission had not discussed expenses, which has not been part of its mission. 'If they wanted to play the cost game, you do a marble facade and you do the glass facade and you compare the cost,' Stroik said. 'And you know, they never did that." Krieger, the former commission member, noted that the body's discussions became much more contentious after the Trump administration removed several members and replaced them with Stroik and James McCrery, a professor at Catholic University, whom he said often echoed the sentiments in a then- draft executive order from Trump that extolled classical architecture. 'At the time, it was a fierce battle over how literal to the original design should the renovations be,' Krieger said. 'Normally, that attitude does add costs to the construction project.' McCrery declined to comment. Trump issued the executive order in December 2020, which criticized modernist architecture and expressed a preference for 'beautiful" classical buildings with more traditional designs. Biden revoked the order, and Trump reissued it the first day of his second term. The commission did not fully approve the Fed's project until September 2021, after McCrery and another Trump appointee, Justin Shubow, had been removed by then President Joe Biden. __ Associated Press writer Seung Min Kim contributed to this report.
The Independent
18-07-2025
- Business
- The Independent
Trump appointees pushed more marble in Fed building renovation White House now attacks
President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates. But the extensive use of marble in the building is, at least in part, the result of policies backed by Trump himself. As the Fed moved forward with plans to renovate its Great Depression-era headquarters in Washington during Trump's first term, it faced concerns in 2020 during a vetting process involving Trump appointees, who called for more 'white Georgia marble' for the facade of building. The Fed's architects said the central bank had wanted glass walls to reflect the Fed as a transparent institution, but three Trump appointees to a local commission felt marble best fit the building's historic character. Marble was added as a result, according to the minutes of the Commission of Fine Arts, which advises the federal government on architecture. The marble does not explain the roughly $600 million in cost overruns for the Fed headquarters and another nearby office building, now budgeted to cost $2.5 billion, which also includes the addition of an underground parking garage and new glass atria in the building's courtyards. But the roots of its extensive use further muddies the White House 's attempts to use the renovation to paint the central banker as profligate spender as a possible pretext to removing him. 'I wouldn't be surprised if the result costs more' because of the added marble, said Alex Krieger, a Harvard University emeritus professor who was a member of the commission and participated in hearings on the Fed's proposal. Russ Vought, Trump's top budget adviser, cited 'premium marble' in a letter to Powell last week as an example of the 'ostentatious overhaul.' In a response late Thursday, Powell wrote that the project would 'use new domestic marble" for several reasons, including "to address concerns raised by external review agencies." The National Capital Planning Commission, which also reviewed and approved the Fed renovation project, has started an inquiry into how Powell oversaw the updates. 'The Federal Reserve's extravagant multi-billion dollar renovation happened on the watch of the Fed's leadership, and the Fed's leadership needs to own up for this mismanagement of taxpayer dollars – as well as its botched coverup job,' said White House spokesman Kush Desai. A Fed spokesperson declined to comment. There is an uncomfortable possibility that the fate of the U.S. central bank and its foundational role in the economy hinges on a dispute about renovation costs and architecture, one that could lead a broader legal battle as to whether Trump can dismiss a Fed chair he dislikes after the Supreme Court in May described the institution as having protections against an abrupt firing. Trump White House investigating renovation Trump, who has redecorated the Oval Office in gold leaf, has argued that inflation is not a concern, so the Fed can dramatically slash its rate to encourage more borrowing. But Powell and other Fed committee members are waiting to see whether Trump's tariffs lift inflation, which higher interest rates could help blunt. The Fed chair pushed back against criticism during a June congressional hearing that the renovation was lavish by saying some features were removed due to cost, leading the White House to speculate as to whether Powell deceived lawmakers or made changes to the renovation plans without getting additional approvals. At that hearing, Sen. Tim Scott, R-S.C., also cited 'white marble' as an example of extravagance. James Blair, a White House deputy chief of staff who was recently added to the planning commission, said Wednesday that he would send a letter to the Fed requesting any revisions to the project. His goal is to see whether Powell was accurate in his congressional testimony. 'He's either telling the truth or he isn't,' Blair told The Associated Press. 'If he's telling the truth, he can prove it by just submitting all the plans and revisions.' Trump said Wednesday that he's 'highly unlikely' to try to fire Powell unless there was what he deemed as 'fraud.' The attempt to remove Powell before his May 2026 term as chair ends could unleash a devastating financial blowback, as financial markets expect the Fed, with its mission of stabilizing prices and maximizing employment, to be free of White House politicking. The perception that the central bank would use its powers to serve Trump's political ends could lead to higher interest rates on the U.S. debt and mortgages, instead of the declines being promised by the president. Trump appointees push for more marble The 115-year old Commission of Fine Arts reviewed the plans for the renovation three times in 2020. Duncan Stroik, who was appointed to the commission in 2019 during Trump's first term, 'proposed an amendment requesting that the next submission include an alternative design in white Georgia marble, the same material used for the five existing buildings along the north side of Constitution Avenue,' the minutes of a Jan. 16, 2020, meeting said. Stroik 'does not think the proposed additions defer to the historic buildings as great marble edifices on an important street,' the minutes added. Stroik's amendment was voted down, but the commission didn't fully endorse the Fed's plans. The architects presented new plans in May 2020, though those didn't appear to satisfy Trump's appointees. Some commissioners 'continued to object to the addition as a glass box that is reminiscent of a commercial office building, glowing at night, that would present an unacceptable contrast to the solid masonry architecture of the historic building in its monumental context,' the commission wrote in a May 2020 letter to a Fed official. By July 2020, however, the Fed's architects came back with a new proposal, which included 'panels of white Georgia marble" which would be used for the 'base, cornice, and other details, consistent with the historic building," the commission's minutes said. Neoclassical vs. modern designs Stroik, now a professor of architecture at the University of Notre Dame, said in an interview that 'stone buildings don't necessarily have to cost a fortune.' But he acknowledged that the commission had not discussed expenses, which has not been part of its mission. 'If they wanted to play the cost game, you do a marble facade and you do the glass facade and you compare the cost,' Stroik said. 'And you know, they never did that." Krieger, the former commission member, noted that the body's discussions became much more contentious after the Trump administration removed several members and replaced them with Stroik and James McCrery, a professor at Catholic University, whom he said often echoed the sentiments in a then- draft executive order from Trump that extolled classical architecture. 'At the time, it was a fierce battle over how literal to the original design should the renovations be,' Krieger said. 'Normally, that attitude does add costs to the construction project.' McCrery declined to comment. Trump issued the executive order in December 2020, which criticized modernist architecture and expressed a preference for 'beautiful" classical buildings with more traditional designs. Biden revoked the order, and Trump reissued it the first day of his second term. The commission did not fully approve the Fed's project until September 2021, after McCrery and another Trump appointee, Justin Shubow, had been removed by then President Joe Biden. __
