Latest news with #ARD
Zawya
2 hours ago
- Business
- Zawya
Egypt: Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions
The Association of Real Estate Developers (arD) convened this week to address the mounting challenges facing Egypt's property market, underscoring the need for urgent regulatory reforms and greater flexibility to sustain growth. Developers stressed the importance of focusing on completing existing projects rather than launching new ones that could exceed their financial capacity. They highlighted that bottlenecks in land allocation and pricing remain among the most pressing issues for market stability. One of the key concerns raised was the complexity of Egypt's current licensing framework. Developers noted that securing approvals for administrative and commercial projects requires clearance from more than 14 different entities — a process they described as cumbersome and discouraging for investors. To address this, developers called for the unification of regulatory bodies responsible for issuing construction permits, proposing the establishment of a 'one-stop shop' to streamline approvals. Such a step, they argued, would speed up construction timelines, reduce investment risks, and enhance the sector's overall competitiveness. Participants also pointed to the need for greater flexibility in granting permits, stressing that residential, touristic, and commercial projects each require tailored government facilitation. Revisiting land pricing mechanisms was another priority raised during the discussions. Developers cautioned that abrupt changes in land valuation disrupt feasibility studies and financial planning, creating instability across the sector. The recent decision to revoke licenses in certain cases was also flagged as a source of added uncertainty. The association further criticised the blanket policy of pricing land exclusively in US dollars. While acknowledging that foreign currency financing may sometimes be necessary, they warned that tying all land values to the dollar reduces competitiveness and discourages local investors. Instead, they called for more flexible mechanisms that better reflect domestic economic realities. At the same time, developers urged the government to authorise foreign currency sales of property units, allowing transactions in dollars or euros rather than restricting them to the Egyptian pound. They cited Saudi Arabia as a model, where foreign investors are permitted to purchase property without being obliged to pay in local currency. On financing, developers pushed back against the perception that high interest rates directly lead to lower property prices. Rising construction and development costs, they argued, continue to offset any potential downward pressure on prices. The association concluded that resolving these issues — from licensing and land pricing to flexible currency options — is vital to reinforcing the resilience of Egypt's real estate market and sustaining investor confidence. © 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (
India Today
a day ago
- Politics
- India Today
Europe weighs joining Zelenskyy in Washington after Trump-Putin's talks fail
European officials will decide this weekend whether Ukrainian President Volodymyr Zelenskyy will be joined by European leaders on his visit to Washington to meet US President Donald Trump on Monday, German Foreign Minister Johann Wadephul said asked whether German Chancellor Friedrich Merz could accompany Zelenskyy, Wadephul said many European leaders would be willing to travel with the Ukrainian president if such a decision is be agreed this weekend, and Friedrich Merz's willingness to assume responsibility is evident; he has demonstrated this very clearly in the last few days. This will be discussed together," Wadephul told German broadcaster ARD. This comes after Trump met his Russian counterpart Vladimir Putin in Alaska and could not succeed in reaching an agreement on a ceasefire in Russia's war on Trump's talk with Putin for ceasefire in Ukraine failed to establish ground, Trump shifted his stance to say that he was now keen on securing a full peace Trump said that it was now up to Zelenskyy to 'get it done' and said a meeting would be arranged between the Ukrainian leader Zelenskyy and Putin, which Trump might OF SECURITY GUARANTEESUkrainian President Volodymyr Zelenskyy has repeatedly said he cannot concede territory without constitutional changes. Kyiv views Donetsk's 'fortress cities' like Sloviansk and Kramatorsk as key defenses against further Russian has also demanded security guarantees to prevent another invasion. He said he and Trump had discussed 'positive signals' about US involvement, stressing that Ukraine needs lasting peace, not 'just another pause' between Russian launched its full-scale invasion of Ukraine in February 2022 and has been steadily advancing in recent months. The war, Europe's deadliest in 80 years, has killed or injured more than a million people from both sides, including thousands of mostly Ukrainian civilians.- EndsInputs from ReutersTune InMust Watch
NBC News
7 days ago
- Politics
- NBC News
Europe fears Ukraine — and itself — are being excluded from Trump-Putin talks
LONDON — Europe is scrambling to stop itself and Ukraine from being frozen out of peace talks between Presidents Donald Trump and Vladimir Putin, fearing they could reshape the military and political future of the Continent without them. Ukrainian President Volodymyr Zelenskyy himself recounted upward of 15 phone calls with world leaders and others this weekend, from France and Germany to the managing director of the International Monetary Fund, as news sunk in that there may be no one at the meeting from the country that has been occupied and bombed for more than three years. 'We cannot accept' territorial questions being 'discussed or even decided between Russia and America over the heads of Europeans and Ukrainians,' German Chancellor Friedrich Merz told his country's state broadcaster ARD on Sunday. 'I assume that the American government sees it the same way.' Sidelined from the Trump-Putin tete-a-tete, Merz and other European leaders issued a joint statement Sunday saying that 'the path to peace in Ukraine cannot be decided without Ukraine.' Trump announced last week that he would join Putin in Alaska on Friday for their first face-to-face discussion of his second term, and the first with the Russian president by any G-7 leader since Putin invaded Ukraine in February 2022. Citing a senior U.S. official and three people briefed on the internal discussions, NBC News reported Saturday that the White House was considering inviting Zelenskyy to the meeting. But Zelenskyy's office told NBC News by phone Monday that there was no final decision. Trump outlined the potential terms of the deal Friday. 'There'll be some swapping of territories to the betterment of both,' Trump said, only to be swiftly rejected by Zelenskyy hours later. 'Ukrainians will not gift their land to the occupier,' the Ukrainian leader said. Russia has always outright dismissed the idea that Ukraine should be part of these talks. It is also demanding that Ukraine cede control of the eastern regions of Luhansk, Donetsk, Zaporizhzhia and Kherson, not just the parts of those territories that Moscow currently occupies and that make up around 20% of Ukraine's total territory.
Yahoo
11-08-2025
- Business
- Yahoo
Ardagh Group secures majority support for recapitalisation plans
Global packaging company Ardagh Group has announced a milestone in its recapitalisation efforts, with over 90% of holders of various note types entering into a transaction support agreement (TSA). The agreement, dated 28 July 2025, involves senior secured notes (SSNs), senior unsecured notes (SUNs), and over 75% of the senior secured toggle notes due 2027 issued by ARD Finance, referred to as the payment-in-kind (PIK) notes. Ardagh encourages the remaining noteholders to join the agreement before the early-bird deadline of tomorrow (12 August), to benefit from the early consent consideration. The debt restructuring deal resulted in certain creditors assuming full control of the company from Irish billionaire Paul Coulson. The TSA alleviates Ardagh Group's debt burden, which stands at $4.3bn. This will be achieved through a debt-for-equity exchange involving the aforementioned SUN and PIK notes. Additionally, the agreement will introduce $1.5bn in fresh capital, which will be utilised to refinance current debt obligations, acquire Yeoman Capital, and support general corporate activities. This injection of capital is fully endorsed by the SSN and SUN holders. In line with the agreement, Yeoman Capital, the investment vehicle through which Coulson holds sway over Ardagh, will receive compensation of $300m. This payment is intended to facilitate Coulson's departure from the company's operational framework. Moreover, the deal will prolong the maturity dates of the existing Ardagh Glass Packaging bonds by more than four years, setting the new deadline to December 2030. This strategic move is expected to bolster the company's liquidity position. Ardagh Group's operations span 16 countries with 58 production facilities, employing roughly 19,000 people. In 2024, the company reported sales of approximately $9.1bn, underscoring its position as a key player in the packaging industry. The recapitalisation agreement is expected to further strengthen Ardagh's financial position and support its efforts to provide sustainable packaging solutions. "Ardagh Group secures majority support for recapitalisation plans" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
DW
11-08-2025
- Politics
- DW
EU, NATO chiefs back Ukraine ahead of Trump-Putin summit – DW – 08/10/2025
European foreign ministers will hold a video call on Monday to discuss how to best support Ukraine ahead of a summit between the US and Russia. European leaders continued on Sunday to push to have Ukraine involved in the negotiations between the United States and Russia, ahead of talks between presidents Vladimir Putin and Donald Trump. Putin and Trump are to meet in the US state of Alaska on August 15 to try to bring an end to the three-year war. Ukrainian President Volodymyr Zelenskyy has repeatedly stated a peace deal without his country's input would not be possible. Europe has insisted that Kyiv and European powers should be part of any deal to end the conflict, with EU foreign ministers set to discuss the next steps for the bloc in a meeting by video link on Monday, together with their Ukrainian counterpart. "The path to peace in Ukraine cannot be decided without Ukraine," the leaders from Germany, France, Italy, Poland, Britain and Finland and EU Commission chief Ursula von der Leyen said in a joint statement. The statement was followed by the heads of eight Nordic-Baltic nations, who also jointly reaffirmed their support for Ukraine. The leaders of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden said they "Reaffirm the principle that international borders must not be changed by force." Expressing their belief that peace could only come through consistent pressure being put on the Russian Federation to halt its "unlawful" war, the Nordic-Baltic countries added that they would continue to uphold and impose restrictive measures against Russia. German Chancellor Friedrich Merz told local broadcaster ARD on Sunday he assumed Zelenskyy will attend the summit between Trump and Putin. "We hope and assume that the government of Ukraine, that President Zelenskyy will be involved in this meeting," Merz said in an interview with ARD. "We cannot accept in any case that territorial questions are discussed or even decided between Russia and America over the heads of Europeans and Ukrainians. I assume that the American government sees it the same way." Meanwhile, top EU diplomat Kaja Kallas expressed her belief that the US should use its power to "force" Russia to bring an end to the war. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video "President Trump is right that Russia has to end its war against Ukraine. The US has the power to force Russia to negotiate seriously. Any deal between the US and Russia must have Ukraine and the EU included, for it is a matter of Ukraine's and the whole of Europe's security," Kallas said. Adding to the calls for Trump to exert his diplomatic powers, NATO head Mark Rutte told ABC's broadcast that "Next Friday will be important because it will be about testing Putin, how serious he is on bringing this terrible war to an end." However, unlike many European leaders, Rutte said it was a reality that "Russia is controlling some of Ukrainian territory" and suggested a future deal could acknowledge this. Separately, US Vice President JD Vance used a recorded interview with US conservative broadcaster Fox News to repeat that Washington plans to withdraw financially from supporting Ukraine. "I think the president, and I certainly think that America, we're done with the funding of the Ukraine war business. We want to bring about a peaceful settlement to this thing," Vance said in the interview that was recorded several days ago. "But if the Europeans want to step up and actually buy the weapons from American producers, we're OK with that, but we're not going to fund it ourselves anymore," Vance said.
