Latest news with #wastemanagement
Khaleej Times
2 days ago
- Business
- Khaleej Times
Elon Musk to remain 'friend and advisor' to US President Trump as he exits White House
Billionaire Elon Musk said Friday he would remain a "friend and advisor" to Donald Trump, as the US president hosted an Oval Office farewell for the man who led his turbulent cost-cutting drive. "I look forward to continuing to be a friend and advisor to the presiden t," Musk told reporters after Trump handed a golden key as a gift to the departing leader of the so-called Department of Government Efficiency (DOGE). Musk, clad in a black T-shirt and jacket and wearing a baseball cap as he stood next to the seated Trump, said he would keep supporting the team that is "relentlessly pursuing a trillion dollars in waste" in reductions that will "benefit the American taxpayer." He complained about how he has been portrayed, saying: "We became, like, essentially the DOGE bogeyman, where any cut anywhere would be ascribed to DOGE." Musk, the world's richest person, has said he is stepping back from his role at the White House to focus on his companies, which include Tesla, SpaceX and social media platform X. His formal exit comes after a bombshell report in The New York Times on his alleged drug use. The newspaper said that Musk used so much ketamine during the 2024 campaign that he developed bladder problems and that he was also taking ecstasy and psychoactive mushrooms, and traveled with a pill box last year. Musk was immediately asked about the report. He did not reply directly and instead denounced The New York Times over its previous coverage of Russian interference in the 2016 election before moving to the next question. DOGE under Musk's guidance has slashed billions of dollars in government spending, much of it already approved by Congress, including eviscerating the main US agency delivering foreign aid. A Boston University study said that tens of thousands of people have already died because of the freeze in funding, a finding earlier denied by Secretary of State Marco Rubio. "We're totally committed to making the DOGE cuts permanent and stopping much more of the waste in the months that come," Trump said. He said that Musk "is really not leaving" as DOGE is working on further priorities such as "modernization" of the tax-collecting Internal Revenue Service, whose ranks have been slashed. Trump said of Musk: "I have a feeling it's his baby, and I think he's going to be doing a lot of things." Pointing to Musk's Starlink satellite internet service, Trump said: "Frankly, I don't think he gets credit for what it's done, but he's a very good person."
Zawya
2 days ago
- Business
- Zawya
‘Circular economy gains momentum in UAE's waste management sector'
The perception of waste management in the UAE has evolved from a traditional collect-and-dispose model to a more circular and resource-focused approach, according to Dulsco Environment's Recycling and Treatment Director Joelle Saab. She told Zawya Projects that companies and government entities are increasingly viewing waste as a resource, prompting investments in recycling, recovery, and treatment technologies. 'The UAE has made significant strides in advancing sustainability initiatives as part of its national agenda, reinforcing its commitment to a greener future,' she said. 'Government policies such as landfill diversion mandates, ban on single-use plastics, and incentives for circular economy initiatives are creating a structured and supportive framework that accelerates growth in the recycling industry.' Saab pointed out that the Dubai-based company works closely with key government bodies, including the Ministry of Climate Change and Environment (MOCCAE), the Ministry of Presidential Affairs (MoPA), Dubai Municipality and Dubai Chamber ESG Label Majra to drive excellence in sustainable waste management practices. Commenting on the broader sustainability landscape, she noted the UAE's substantial commitments, including a $163 billion allocation for renewable energy and a $30 billion climate finance fund. These national strategies, alongside initiatives like the UAE Energy Strategy 2050 and Net Zero 2050 goals, have accelerated the transition towards sustainability. 'Further policy enhancements, such as expanded producer responsibility regulations, increased green financial incentives for recycling innovations, and stricter waste segregation enforcement, could further accelerate sustainability efforts and drive greater circularity across industries,' she added. Interestingly, Saab is among the growing number of women making their mark in the traditionally male-dominated waste management industry, a shift driven by more women stepping into leadership roles and advancing innovation in sustainability. She said her passion for environmental stewardship was sparked by early involvement in reforestation campaigns, which led her to pursue a Master's degree in Environmental Sciences and Management. After completing her thesis, she began her career in the non-profit sector, driven by a commitment to environmental impact, before transitioning into the corporate sector. Prior to joining Dulsco Environment in 2017, she had worked as an Environmental Specialist with internationally recognised organisations such as the EU and the USAID in Lebanon. A major milestone in her career came with Expo 2020 Dubai, where Dulsco Environment was appointed the official waste management partner. 'As head of the team, I was responsible for the design, planning, and execution of waste solutions and sustainability strategies on-site,' she said. 'Key takeaways from the experience were the effectiveness of strategic planning and innovative waste segregation and the importance of community engagement—a culmination of this made Expo 2020 the most sustainable World Fair ever." Pre, during and post-event, Dulsco Environment diverted 90.5 percent of over 1.1 million tonnes of waste generated on the site from landfill. Key initiatives included a waste transfer station to cut emissions and optimise costs, a three-stream bin system to segregate landfill waste, mixed recyclables, and organic waste, and the integration of on-site composters and a Refuse Derived Fuel (RDF) plant to reduce carbon emissions and maximise resource recovery. The team also organised an educational on-site stand throughout the six months of Expo 2020 Dubai, which featured demonstrations on waste segregation, educational videos, branded waste bins, and interactive activities to engage visitors from around the world in responsible waste disposal. "We also revealed the First Recycling Bus in the region, which is a recycled ex-commercial vehicle that has been given a new lease of life to support Expo 2020 Dubai's recycling education and awareness efforts and till date is continuing to champion recycling initiatives,' Saab said. Excerpts from the interview: How has the perception of waste management evolved in the UAE, and what role does Dulsco play in shaping this transformation? The entire waste management space has witnessed significant transformation. From a simple collect and dispose model, the UAE is adopting a more circular approach where every aspect of waste handling, recycling, recovery, treatment or disposal is being assessed. Many companies and government entities are viewing waste as a resource. And we have been at the forefront of this shift. Over the years, Dulsco Environment invested heavily in advanced recycling and treatment facilities, promoting waste-to-fuel initiatives, and working closely with government bodies to drive policy changes that encourage sustainable waste practices. How would you describe sustainability in the UAE? For decades, the UAE has placed sustainability at the core of its national agenda, making remarkable progress in cementing its global leadership across diverse sectors, including solar energy, clean power, and advanced waste management. This momentum has been driven by bold government targets and dynamic private sector contributions. The UAE has pledged substantial investments toward sustainability, including a $163 billion allocation for renewable energy projects and the establishment of a $30 billion climate finance fund. Key milestones include the country's world-leading solar energy projects and its $54 billion commitment to clean energy initiatives through 2030, an investment aimed at meeting rising demand while fast-tracking UAE's Energy Strategy 2050 aims to achieve financial savings of AED 100 billion through increased energy efficiency and the integration of clean energy sources. As a company, we're active contributors to the UAE's Net Zero 2050 goals and help businesses tackle environmental challenges through practical, impactful solutions. Our efforts produce high-value end products such as recycled road-base and aggregates, treated water and recycled oil, alternative fuel such as RDF, and much more. Notably, for every tonne of waste we divert from landfill, we help our clients avoid approximately 2.6 tonnes of CO2 equivalent emissions—an outcome that speaks volumes in both environmental and financial terms. How are UAE corporates adapting to rising sustainability expectations? We are seeing a significant shift as more companies in the UAE integrate Environmental, Social, and Governance (ESG) goals into their operations. Sustainability is becoming a key priority, and businesses are taking proactive steps to align with national and global environmental objectives. Many organisations are actively participating in educational awareness sessions regularly conducted by Dulsco Environment, helping to drive responsible waste management practices. Companies are also engaging in global sustainability initiatives throughout the year, contributing to recyclable collection drives for various causes. Additionally, we are witnessing increased adoption of smart waste segregation solutions, such as separate smart bins, which encourage responsible disposal habits. Businesses are also fostering behavioural change through community drives, sustainability workshops, and hands-on environmental initiatives, further embedding sustainable practices within corporate culture. This growing commitment highlights a collective effort to drive meaningful environmental impact, reduce landfill dependency, and contribute to the UAE's long-term sustainability goals. How is Dulsco integrating circular economy principles into its waste management solutions? Dulsco Group is fully aligned with the UAE's Net Zero by 2050 initiative and our entire waste management and environment solutions suite is centred around, resource recovery, treatment, recycling and upcycling. Notably, one of our plants converts non-recyclable waste into alternative fuel, reducing reliance on fossil fuels for cement industries and others. Also, we operate four other recycling and treatment facilities, notably the Material Recovery Facility (MRF), our Construction and Demolition Waste Recycling facilities in Ajman and Umm Al Quwain and lastly our Liquid Treatment Facility (LTF), all of which transform waste into reusable materials, ensuring that valuable resources stay in the economy for as long as possible. In 2024, these facilities handled over a million tonnes of waste, successfully avoiding CO2 emissions. These facilities achieve landfill diversion by effectively sorting, processing, and recycling waste to recover valuable materials such as recycled aggregates, sub-base, and sand that can be used in construction projects; aluminium, plastic, paper, glass ready to be converted into sustainable recycled products. In addition to recycled furnace oil and treated water. What are the latest technological advancements in waste treatment and recycling that you believe will redefine the industry? We're seeing a lot of technological advancement in the waste management space especially with the adoption of AI-powered waste technologies, IoT-enabled smart bins, and enzymatic recycling that allows plastics to be reused indefinitely. Solar-driven waste-to-energy conversion and carbon capture from incineration are also gaining traction, while circular economy models are transforming waste into fuels and fertilisers. These advancements not only boost efficiency but also align the sector with global climate and sustainability goals. The waste and recycling sector has traditionally been male-dominated. What advice would you give to young women looking to enter and lead in this industry? Traditionally, it has been a male-dominated industry, but that is changing as more women take on leadership roles and drive innovation in sustainability. My piece of advice to all women is 'Own your expertise, speak with conviction, and never underestimate the value of diverse perspectives. Build credibility through results, seek allies not just mentors and remember that creating space for other women strengthens the industry for everyone.' Lastly the sector is evolving with new technologies and regulations. Continuous learning will help you stay ahead and position yourself as a leader. The waste and recycling industry needs diverse leadership. Anyone stepping up with confidence, expertise, and a commitment to sustainability, can shape the future of the sector. (Reporting by Anoop Menon; Editing by SA Kader) (
Yahoo
2 days ago
- Business
- Yahoo
1 Industrials Stock Worth Investigating and 2 to Ignore
Even if they go mostly unnoticed, industrial businesses are the backbone of our country. But they are at the whim of volatile macroeconomic factors that influence capital spending (like interest rates), and the market seems convinced that demand will slow. Due to this bearish outlook, the industry has tumbled by 11.8% over the past six months. This performance was worse than the S&P 500's 2.2% decline. The elite companies can churn out earnings growth under any circumstance, however, and our mission at StockStory is to help you find them. Taking that into account, here is one resilient industrials stock at the top of our wish list and two best left ignored. Market Cap: $7.32 billion Starting with the founder picking up garbage with a pickup truck he purchased using savings from high school, Casella (NASDAQ:CWST) offers waste management services for businesses, residents, and the government. Why Is CWST Not Exciting? Core business is underperforming as its organic revenue has disappointed over the past two years, suggesting it might need acquisitions to stimulate growth Expenses have increased as a percentage of revenue over the last five years as its operating margin fell by 4 percentage points Performance over the past two years was negatively impacted by new share issuances as its earnings per share were flat while its revenue grew At $115 per share, Casella Waste Systems trades at 95.5x forward P/E. Check out our free in-depth research report to learn more about why CWST doesn't pass our bar. Market Cap: $16.86 billion Founded in 1920, Snap-on (NYSE:SNA) is a global provider of tools, equipment, and diagnostics for various industries such as vehicle repair, aerospace, and the military. Why Does SNA Give Us Pause? Organic sales performance over the past two years indicates the company may need to make strategic adjustments or rely on M&A to catalyze faster growth 6.3 percentage point decline in its free cash flow margin over the last five years reflects the company's increased investments to defend its market position Diminishing returns on capital suggest its earlier profit pools are drying up Snap-on's stock price of $322.36 implies a valuation ratio of 16.1x forward P/E. Dive into our free research report to see why there are better opportunities than SNA. Market Cap: $11.11 billion Developing submarine detection systems for the U.S. Navy, Leonardo DRS (NASDAQ:DRS) is a provider of defense systems, electronics, and military support services. Why Do We Watch DRS? Demand is greater than supply as the company's 54.4% average backlog growth over the past two years shows it's securing new contracts and accumulating more orders than it can fulfill Incremental sales significantly boosted profitability as its annual earnings per share growth of 17.5% over the last two years outstripped its revenue performance Free cash flow margin increased by 4.7 percentage points over the last five years, giving the company more capital to invest or return to shareholders Leonardo DRS is trading at $41.68 per share, or 38.4x forward P/E. Is now a good time to buy? See for yourself in our full research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. 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
Fox News
2 days ago
- Business
- Fox News
President Trump teases ‘last day, but not really' for Elon Musk at DOGE: Oval Office presser set for Friday
Elon Musk is finishing his official role in the Trump administration, but if President Trump's latest Truth Social post is any indication, the billionaire isn't going far. "I am having a Press Conference tomorrow at 1:30 P.M. EST, with Elon Musk, at the Oval Office," Trump posted Thursday. "This will be his last day, but not really, because he will, always, be with us, helping all the way. Elon is terrific!" Musk's government service will end May 30, the legal 130-day limit for his "special government employee" designation. He was appointed in January to head the Department of Government Efficiency (DOGE), created by executive order on Inauguration NEXT FOR DOGE AFTER ELON MUSK'S DEPARTURE? 'ONLY JUST BEGUN' "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending," Musk posted on X Wednesday. "The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government." White House press secretary Karoline Leavitt emphasized Thursday "the DOGE leaders are each and every member of the President's Cabinet and the president himself, who is wholeheartedly committed to cutting waste, fraud and abuse from our government." And the cuts are adding up. According to a May 26 update on DOGE's website, the initiative has saved $175 billion through asset sales, contract cancellations, fraud payment crackdowns and other spending cuts. That translates to about $1,087 in savings per taxpayer. DOGE's reach has extended across the federal government, but not without pushback. Democrats in Congress have sharply criticized Musk's role. During a February House Oversight hearing, Rep. Melanie Stansbury, D-N.M., called his influence "reckless and illegal," accusing Trump of "outsourcing governing to a billionaire who answers to no one." Rep. Jasmine Crockett, D-Texas, warned Musk was acting as an "unelected official" inside the executive branch. Despite the criticism, markets are welcoming Musk's return to the private sector. Bloomberg reported Tesla shares rose 4.2% this week on news of his government exit. In an investor call earlier this month, Musk reassured shareholders, "Starting in June, I'll be allocating far more time to Tesla and SpaceX now that the groundwork at DOGE is in place." The White House did not immediately respond to Fox News Digital's request for comment.
Fox News
3 days ago
- Business
- Fox News
DOGE staffing shakeup as Elon Musk hangs up his hat, White House confirms
A White House official confirmed to Fox News on Thursday that in addition to billionaire Elon Musk, multiple other staffers and special government employees from the Department of Government Efficiency (DOGE) are departing. Musk has been heading DOGE since President Donald Trump took office in January. The department was tasked with cutting $2 trillion from the federal government's budget through efforts to slash spending, government programs and federal workforce. Musk announced his departure from DOGE late Wednesday. "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending," Musk said on X. "The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government." Along with Musk, advisor Steve Davis, advisor and spokesperson Katie Miller, and attorney James Burnham are leaving their posts within DOGE, a White House spokesperson confirmed to Fox News. With Musk's departure, White House press secretary Karoline Leavitt told reporters at a briefing Thursday that Trump and members of his Cabinet will now spearhead DOGE's efforts. "The DOGE leaders are each and every member of the president's cabinet and the president himself, who is wholeheartedly committed to cutting waste, fraud and abuse from our government," Leavitt said. "The entire Cabinet understands the need to cut government waste, fraud and abuse," she continued. "And each Cabinet secretary at their respective agencies is committed to that. That's why they were working hand in hand with Elon Musk. And they'll continue to work with their respective DOGE employees who have onboarded as political appointees at all of these agencies. "So surely the mission of DOGE will continue, and many DOGE employees are now political appointees and employees of our government." While DOGE was tasked with cutting $2 trillion from the budget, its efforts led to roughly $175 billion in savings due to asset sales, contract cancellations, fraud payment cuts and other ways to eliminate costs, according to an update on DOGE's website. The savings translate to about $1,087 in savings per taxpayer, the website notes. A senior White House official told Fox News Digital previously that DOGE is now part of the "DNA" of the federal government, and it will continue to operate as it had under Musk.
