Airbus to Source Titanium from Saudi Arabia as Part of Jet Deal
Airbus SE plans to source some metal to manufacture its aircraft from Saudi Arabia as part of a widebody aircraft deal with the kingdom's flag carrier.
The European manufacturer signed a deal on Wednesday to buy 2.5 billion Riyals ($666 million) worth of raw material, mainly titanium, from Saudi Arabia. The accord also included an order from national carrier Saudia for as many as 20 long-range aircraft.
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Business Insider
an hour ago
- Business Insider
Governor Sanwo-Olu commissions Yikodeen factory; West Africa's largest safety footwear manufacturing factory
The event is expected to mark a pivotal moment not only for Yikodeen but for Nigeria's broader industrial ambitions. With the completion of this expansion, Yikodeen now operates the largest safety footwear manufacturing plant in West Africa — a 120,000-square-foot, state-of-the-art facility capable of producing 5,000 pairs of safety boots per day. This represents a 250-fold increase from the company's humble beginnings in 2016, when daily output stood at just 20 pairs. Guests at the upcoming ceremony will include traditional rulers such as His Royal Majesty Oba Adeyeye Enitan Ogunwusi, CFR, the Ooni of Ife, and His Royal Majesty Ogiame Atuwatse III, CFR, the Olu of Warri. Also expected is the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, whose presence underscores the Board's continued commitment to indigenous capacity development in key industrial sectors. The Chairman of Yikodeen's Board of Directors, Engr. Ajibola Akindele, MFR, will serve as Chief Host and welcome guests alongside Yikodeen's leadership and team. According to Yikodeen's Founder and CEO, Atunde Shamsideen Olayinka, the commissioning is more than a ribbon-cutting event. 'It is a declaration of intent; a symbol of what is possible when visionary thinking, local talent, and long-term investment converge in the service of national development,' he said. 'We are not just opening a factory; we are unlocking new possibilities for industrial self-reliance in Nigeria and across Africa.' The new facility is equipped with some of the most advanced manufacturing and quality control technologies available globally. These include automated European production lines, precision-based quality assurance systems, and fully integrated production processes that support a diverse product range: industrial safety boots, educational footwear, and the fast-growing Yiko Plus athletic shoe line. The scale and efficiency of the new factory reflect a deliberate strategy to reduce Nigeria's dependence on imported safety footwear while promoting local job creation. Since the start of the expansion phase, Yikodeen has added over 180 skilled roles and anticipates hiring at least 20 more as operations scale to full capacity. Moreover, the factory's increased output is projected to inject over ₦5 billion annually into the Nigerian economy through direct employment, local procurement, and regional supply chain engagement. The expansion was made possible through a strategic investment from Aruwa Capital Management, one of Nigeria's leading women-founded and women-focused private equity funds. While the financial terms were not publicly disclosed, the investment is widely believed to be in the multi-million-dollar range and was deployed to accelerate Yikodeen's digital transformation, factory upgrade, and market expansion initiatives. This capital infusion also enabled the company to deepen its local sourcing capabilities and position itself for entry into key regional markets. Speaking on the anticipated commissioning, Adesuwa Okunbo Rhodes, Founder and Managing Partner of Aruwa Capital, noted: 'Yikodeen's trajectory is a model of what's possible in Nigerian manufacturing. We invested not just in a company, but in a mission to demonstrate that world-class products can be made locally, at scale, by Nigerians.' The company's leadership has also emphasized the social impact of its journey. As part of the commissioning event, Yikodeen will present a short documentary video showcasing the company's transformation from a microenterprise in 2016 to a continental manufacturing leader in 2025. A separate segment will highlight the company's social investments, including training programs for youth, mentorship opportunities for aspiring manufacturers, and ongoing support for SMEs navigating capital access. Yikodeen's operations have been consistently aligned with Nigeria's Local Content Development policy, and it remains the only safety footwear manufacturer certified by the NCDMB for supplying safety boots to the Nigerian oil and gas industry. This exclusive positioning has allowed the company to win major contracts, deepen its compliance infrastructure, and elevate local content as a standard of competitiveness. In addition to the recommissioning ceremony, invited guests will be treated to a guided tour of the factory's new production lines and its experiential product booths, showcasing Yikodeen's flagship collections and highlighting innovations in durability, ergonomics, and safety design. There will also be a Q&A session and live brand storytelling led by the company's executive team to provide a deeper understanding of Yikodeen's vision, milestones, and market strategy. Governor Sanwo-Olu is expected to speak on the significance of industrial development in Lagos State and the importance of supporting homegrown enterprises that are committed to manufacturing excellence. His participation reflects the Lagos State government's ongoing interest in catalyzing local production and job creation as key drivers of economic transformation. Yikodeen's recommissioning is not just a moment for celebration; it is an invitation to stakeholders, partners, and policymakers to reimagine Nigeria's future as a destination for industrial excellence. The company has already signaled its intention to explore export opportunities to neighboring West and Central African countries with its new infrastructure designed to meet the compliance and volume requirements of both domestic and international markets. The event will begin at 11:00 AM on June 24 and will run through 2:00 PM at the company's headquarters and production site located at 8 Adekan Akinsanya Street, Isolo, Lagos. Attendance is strictly by invitation, although interested stakeholders may request access by emailing info@ Requests will be subject to review and confirmation. The recommissioning of Yikodeen Factory 2.0, under the theme 'The Walk That Matters' — will serve as a reminder that Nigeria can produce, innovate, and lead, not just in theory but in practice. For the Yikodeen team, it is not merely the opening of a facility; it is the launch of a renewed national promise, one stitched, laced, and walked in every pair of boots they make.
Hamilton Spectator
2 hours ago
- Hamilton Spectator
Prime Minister Carney in Brussels today for EU-Canada summit
BRUSSELS - Prime Minister Mark Carney is in Belgium today, where he visited a military cemetery before meeting with European Union leaders at an EU-Canada summit. Carney said on social media Sunday that he was in Brussels to launch 'a new era of partnership' between Canada and the European Union for the benefit of workers, businesses and security 'on both sides of the Atlantic.' Carney started the day with a visit to the Antwerp Schoonselhof Military Cemetery where 348 Canadian soldiers are buried. Later, he is expected to meet with Belgian Prime Minister Bart De Wever, European Council President António Costa and European Commission President Ursula von der Leyen. Carney posted on social media early on Monday that he spoke with U.S. President Donald Trump overnight, noting the conversation addressed the need to de-escalate the conflict in the Middle East, their shared commitment of a stronger NATO and progress in ongoing trade talks between Canada and the United States. At the EU-Canada summit, Foreign Affairs Minister Anita Anand and Defence Minister David McGuinty are expected to sign a security and defence agreement with the European bloc in what one European official described last week as one of the most ambitious deals the continent's powers have ever signed with a third country. The security and defence agreement aims to open the door to Canada's participation in the joint purchase of weapons with European countries. It will also lead to Canada's participation in the ReArm Europe initiative, allowing Canada to access a 150-billion-euro program for defence procurement, called Security Action for Europe. Canada will need to sign a second agreement with the European Commission before it can take part in the program. A government official briefing reporters on the trip said the partnership is expected to make procurement easier and more affordable, while also allowing Canada to diversify the sources of equipment. At the EU-Canada summit, leaders are also expected to issue a joint statement to underscore a willingness for continued pressure on Russia to end its war on Ukraine, including through further sanctions, and call for an immediate and permanent ceasefire in Gaza. The joint statement is also expected to touch on climate change, trade and digital and tech policy. Leaders at the EU-Canada summit are also slated to discuss global trade and commit to working towards full ratification and implementation of the Comprehensive Economic and Trade Agreement, the Canada-Europe free trade deal known as CETA. The pact took effect provisionally in 2017, and most of its contents now apply. But all EU countries need to approve CETA before it can take full effect, with 10 members still left to ratify the deal. Carney, Costa and von der Leyen are scheduled to hold a joint press conference in the evening. On Tuesday, Carney travels to The Hague for the NATO summit. The international meetings come as Canada looks to reduce its defence procurement reliance on the United States due to strained relations over tariffs and U.S. President Donald Trump's repeated talk about Canada becoming a U.S. state. This report by The Canadian Press was first published June 23, 2025.
Business Wire
3 hours ago
- Business Wire
3Degrees Strengthens European Biomethane Solutions with ISCC EU Certification
OSLO, Norway--(BUSINESS WIRE)--3Degrees, a leading global climate solutions provider, has further reinforced its commitment to decarbonisation in the European markets by securing ISCC EU certification for its biomethane solutions. This certification enables 3Degrees to offer clients ISCC EU-certified biomethane certificates, providing robust assurance and traceability for their renewable energy strategies. 3Degrees Strengthens European Biomethane Solutions with ISCC EU Certification Share The ISCC EU certification, awarded by the International Sustainability and Carbon Certification (ISCC) system, is recognised as a premier standard for demonstrating compliance with the European Union's rigorous sustainability requirements. With this certification, 3Degrees continues to support organisations in meeting both voluntary and compliance decarbonisation objectives with the highest level of environmental integrity. 'With two decades of experience in the renewable energy and climate sector, 3Degrees has a well-established presence in the market, and this certification underscores our ongoing dedication to enabling organisations to take urgent climate action,' said Zvonko Ikic, Senior Biomethane Originator at 3Degrees. 'Through ISCC EU-certified biomethane solutions, we ensure that our clients' renewable energy procurement is fully aligned with the current and future sustainability standards.' 'This marks a significant milestone in our journey to empower customers that have a carbon footprint in Europe with a comprehensive suite of climate solutions,' said Owain Morgan, President of Markets at 3Degrees. 'Our global biomethane platform is a cornerstone of our climate action strategy, and we are excited about the positive impact this certification will unlock for our clients and the broader transition to a low-carbon future.' For more information about 3Degrees' biomethane offerings and renewable natural gas (RNG) services, please visit About 3Degrees 3Degrees is a leading global climate solutions provider, pioneer of environmental markets, and Certified B Corporation with offices across Asia, North America, and Europe. Our work is driven by the need for urgent climate action and has been for nearly 20 years. We deliver a full suite of clean energy and decarbonisation solutions to help global Fortune 500 companies, utilities, and other organizations achieve their climate goals and address emissions in the fight against climate change. The 3Degrees team brings a commitment to integrity and deep expertise in climate strategy and implementation across scopes 1, 2, and 3 emissions, including global environmental commodities, renewable energy and carbon project development, and supply chain decarbonisation. We help develop and deploy impactful climate solutions that make good business sense and advance an equitable transition to a low-carbon future. Learn more at or follow us on LinkedIn.
