Latest news with #AlessandroParodi
Mint
2 days ago
- Business
- Mint
Heineken loses operational control of facilities in Congos war-hit east
(In paragraph 7, removes reference to Amstel as one of the brands produced in its four breweries in Democratic Republic of Congo) June 20 (Reuters) - Heineken has lost operational control and withdrawn its staff from its facilities in conflict-affected areas of eastern Democratic Republic of Congo, the Dutch brewer said on Friday. The beverages giant said in March that its operations in three eastern cities would remain suspended until it was safe to reopen, after some of its breweries were hit and its depots raided during fighting between the army and rebels. But on Friday, the beer maker said the situation had deteriorated further, and that armed personnel had taken control of its facilities in Bukavu and Goma - eastern Congo's two biggest cities, now under rebel control - and nearby areas. "The conditions required to operate responsibly and safely are no longer present and as of 12th June 2025, we have lost operational control," it said in a statement. Heineken's Congo unit, Bralima, still operates in other parts of the country not affected by the conflict, the company said, adding that it would continue assessing the evolving situation. The group owns four breweries in Congo, producing Heineken beer as well as other popular brands like Primus. The Bukavu facilities employed around 1,000 people both directly and indirectly, it had said previously. "Our top priority is the safety and wellbeing of our employees," its Friday statement said. "We have withdrawn all remaining staff from these sites and we have continued to support them financially." Nearly 14% of Heineken's total revenues come from its businesses in the Middle East and Africa, where Congo, with its population of over 100 million, is a large market. Its operations in the cities of Goma, Bukavu and Uvira had together previously accounted for roughly a third of Heineken's business in Congo. Fighting in eastern Congo escalated this year as the M23 rebel group staged a rapid advance that raised fears of a wider conflict. Congo says Rwanda is supporting M23 by sending troops and arms. Rwanda has long denied helping M23. The two countries and the United States said on Wednesday that their technical teams initialed a draft peace agreement that is expected to be signed next week. (Reporting by Sonia Rolley; Writing by Alessandro Parodi and Sfundo Parakozov; Editing by Joe Bavier)
Zawya
11-06-2025
- Business
- Zawya
South African parliament passes budget framework
South Africa's lower house of parliament passed the budget's fiscal framework and revenue proposals on Wednesday. The budget of Africa's biggest economy has been caught up in political wrangling for months. It has been reworked twice because of disagreements in the ruling coalition over plans to raise value-added tax. A majority of 268 lawmakers, including from the two biggest political parties the African National Congress (ANC) and the Democratic Alliance (DA), voted in favour of the fiscal framework and revenue proposals, while 88 voted against and 2 abstained. The ANC and the DA had been at loggerheads over the budget until the finance minister backtracked on a plan to raise value-added tax. The two parties have more than half of the lawmakers in the 400-member National Assembly. (Reporting by Alessandro Parodi and Sfundo Parakozov; Editing by Alexander Winning)
Yahoo
13-05-2025
- Automotive
- Yahoo
Global EV sales rise in April despite trade disruptions, research finds
By Alessandro Parodi (Reuters) -Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday. European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets, outperformed those of Tesla. Tesla continued to lose market share ahead of a revamp of its popular Model Y, Rho Motion data manager Charles Lester said. China-based EV makers continued to increase domestic sales of battery-electric vehicles while responding to growing demand for plug-in hybrids offshore, he added. WHY IT'S IMPORTANT Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. President Donald Trump's stance towards emissions standards and uncertainties around tariffs also hampered EV growth in North America. His deals this month with Britain and China only affect EV sales marginally, but are positive signs for the industry ahead of his potential talks with Korea, Japan and the EU, Lester said. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.5 million in April, the Rho Motion data showed. Sales in China were up 32% from the same month of 2024 to 0.9 million vehicles. Europe reported a 35% year-on-year increase in registrations to 0.3 million cars sold, while in North America they fell 5.6% to 0.1 million. In the rest of the world, April sales rose by 50%. KEY QUOTE "The plug-in hybrids have almost doubled year to date in the rest of the world, but the main reason for that is the Chinese exports," Lester said. CONTEXT Governments worldwide are adopting policies to encourage EV adoption, while trade tensions and slowing car markets could foreshadow plant closures and job losses. China extended its auto trade-in subsidies into 2025 as part of an expanded consumer trade-in scheme in January, to try to avert a slowdown in EV sales while reviving economic growth. 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
Yahoo
06-05-2025
- Automotive
- Yahoo
Tesla's UK sales lowest in over two years in April as Europe snubs Musk
By Alessandro Parodi (Reuters) -Tesla's new car sales in Britain plummeted 62% year-on-year in April to their lowest in over two years, even as demand for electric vehicles rose, data from research group New AutoMotive showed on Tuesday. Sales of billionaire Elon Musk's EV cars also plunged to multi-year lows in some other key European markets last month, national data showed last week, as Tesla prepares to counter competition from European and Chinese EV brands with the launch of a revamped Model Y. Britain had bucked the gloomy European trend for Tesla this year, but in April the automaker sold just 536 new cars there, down from 1,404 in the same month of 2024, leading to a year-to-date EV market share for the brand of 9.3%. Tesla's website in Britain says that estimated deliveries of the revamped Model Y will start in June, but it will take a couple of months before sales data show if the updated version has won back customers. Musk's closeness to U.S. President Donald Trump and his embrace of far-right politics in Europe have led to protests against him and the company, as well as vandalism at its showrooms and charging stations across the U.S. and Europe. After the brand's first-quarter global sales and profit missed estimates, Musk said two weeks ago he would cut back on the time he devotes to the Trump administration and spend more time running the company. Overall battery-electric car registrations in Britain increased by 6.9% in April, slowing from the previous month due to broader economic conditions, New AutoMotive said. Volkswagen's battery-electric sales in Britain jumped 194% to 2,314 vehicles last month, while registrations of China's BYD were up 311% to 1,419 cars. (Reporting by Alessandro Parodi. Editing by Mark Potter)
Yahoo
01-05-2025
- Automotive
- Yahoo
Chinese EV makers sell more plugin-hybrids in the EU to avoid tariffs, research firm says
By Alessandro Parodi (Reuters) -Chinese carmakers including BYD and Chery are selling more plugin-hybrids in the European Union to avoid import tariffs on Chinese-made electric cars, data released on Friday showed. The two brands sold 3,269 and 757 plugin-hybrid vehicles (PHEVs), respectively, in the bloc in March, up from near zero sales in July 2024 when provisional tariffs were first introduced, research firm Rho Motion said in a report. WHY IT'S IMPORTANT EU tariffs of up to 45.3% on Chinese-built battery-electric vehicles (BEVs) came into full effect in November to prevent a flood of cheap cars. Facing disruption from U.S. tariffs, the EU and China are negotiating a relaxation of the European levies. But in the meantime, EV makers such as BYD and Leapmotor have adjusted their European strategy to adapt to the EU tariffs and the slower-than-expected mass adoption of BEVs in Europe. On Tuesday, BYD said it would introduce two more PHEV models in Germany this year. BY THE NUMBERS BYD pays a 27.5% tariff on BEVs it sells in the EU, and 10% for PHEVs. That means paying 10,257 euros ($11,656) for each Atto 3 BEV it sells in Germany, the report said. For the Seal U PHEV, it pays 3,999 euros. The group's March BEV sales in the EU more than doubled to 4,633 from March 2024, but its PHEV sales went from none to 3,269. Chery, which also pays a baseline 10% tariff and an additional 21.3% levy on BEVs, sold 310 BEVs and 757 PHEVs. SAIC faces the highest BEV tariff of 35.3%. But it has not scaled up PHEV sales as much, the report said. QUOTE "It was only a matter of time before manufacturers found a backdoor to the market," said Didi Bostock, Membership Editor for Rho Motion. "And now they have, through hybrids." ($1 = 0.8800 euros) Sign in to access your portfolio
