Latest news with #BCP
The Star
a day ago
- Business
- The Star
System downtime affects import, export services in Brunei
BANDAR SERI BEGAWAN: The Brunei Darussalam National Single Window (BDNSW) has been experiencing system downtime since Monday, June 9, impacting digital processes related to the import and export of goods. According to a joint announcement from the BDNSW portal and the Ministry of Finance and Economy (MoFE) released on June 5, the downtime is due to ongoing system maintenance and security upgrades. These enhancements are part of efforts to strengthen cybersecurity and ensure compliance with standards set by the E-Government National Centre (EGNC). The Royal Customs and Excise Department (RCED), in collaboration with EGNC, is working to complete the maintenance as swiftly as possible. In the interim, a Business Continuity Plan (BCP) has been activated to maintain operations through manual procedures at all relevant checkpoints. Traders and stakeholders are advised to download the necessary manual forms via the BDNSW portal at and submit completed forms along with supporting documents, agency-issued permits (if required), and payments (if applicable) to checkpoint officers. Authorities expressed their appreciation for the public's understanding and patience during the temporary disruption and assured that regular updates will be provided via the BDNSW portal and MoFE social media platforms. – Borneo Bulletin/ANN
BBC News
5 days ago
- Business
- BBC News
Poole car park to stay despite BCP Council's opposition
A town centre's 100-space car park can be used for another five years despite a council previously telling its owners that it needed to be shut Quayside Poole car park opened in 2009 but Bournemouth, Christchurch and Poole (BCP) Council told Stanborough Developments Ltd the site could no longer be used for that planning inspector Paul Hocking quashed BCP Council's enforcement notice and gave the company permission to use the site. The authority said the car park created too much parking in the harbour area, had a negative impact and would harm attempts to get people use public transport or to walk and cycle. The car park site was previously used for a grain silo, which was demolished about 16 years ago. Mr Hocking found that there was "very little evidence" to show that using the site as a car park for another five years would result in overprovision for parking in the added that he was not persuaded that still using it would "harmfully erode" the council's efforts to get people to use other modes of has previously been granted for 64 flats and two shops on the site. But Mr Hocking said using it for the car park for another five years would not "unacceptably harm" any future development. You can follow BBC Dorset on Facebook, X (Twitter), or Instagram.
Yahoo
6 days ago
- Business
- Yahoo
What has happened to Bournemouth Air Festival?
As hopes of a 2026 edition of Bournemouth Air Festival fade, what factors have led to its demise, and will it ever return? The private air show operator that was expected to run the event on a 10-year contract has pulled out of talks. The major sticking point was its plan to close the promenade and seafront between the piers, which the council said it legally could not do. The US-based firm has also blamed the "instability of the financial and political climate" for its decision to withdraw. The free air festival was first held in 2008 and has taken place every August, with the exception of 2020 when Covid restrictions were in place. At its peak, it attracted about 1.3 million visitors to the seaside conurbation, and estimates of how much it annually contributed to the local economy vary from £14m to £59m. But the cost to the council has sky-rocketed in recent years, with hikes across insurance, security, infrastructure and counter-terrorism measures. Bournemouth Christchurch and Poole Council (BCP) said its net budget for the four-day festival had risen from £300,000 in 2019 to £400,000 by 2022. New legislation brought in after the 2017 Manchester Arena bombing is also set to significantly increase costs for all organisers of public events. The authority, which has been run by a coalition since 2023, has already slashed millions from its budget as it grapples with a huge deficit for its special educational needs and disabilities (SEND) services. Half a million people attended the final council-funded air show in 2024, which was scaled back from four days to three, with the final net cost to the council reaching £248,000. In the months that followed, officers explored two options - one was for a sponsor to foot the £400,000 bill of a council-run event, the other was for an external operator to run the air show at no cost to the authority. With no firm offers of sponsorship, but five potential operators raising their hand, things began to look up. But those early discussions led to just two firm expressions of interest and, with one of those requiring financial backing from the council, the initial flurry of enquiries quickly dwindled to a shortlist of one. BCP's destination and leisure councillor Richard Herrett said the prospective organisers had flown from the US to attend the 2024 event, but had drawn up a "wide range of requests that would have created significant financial pressures on the council". A report to BCP councillors said the plan to close off the beach and promenade between Boscombe and Bournemouth piers was to enable "a variety of hospitality offers ranging in price". But the authority said the firm's "non-negotiable" request presented legal difficulties, as fencing off the area would contravene the Open Spaces Act 1906. After the report was published, but before councillors met to discuss it, the company announced it was pulling out. In a letter read to councillors, the operator, whose name was redacted, said: "Several factors led us to this decision, with the most significant being that, without the ability to fence off and restrict access to a significant part of the beach and the surrounding areas, it would be challenging to create a financially sustainable event model. "The instability of the financial and political climate were also factors that would challenge us to deliver the event in a similar manner to our other events." Council leader Millie Earl said: "We are still open to any interest from potential operators or sponsors. "In the meantime, we remain invested in the cultural future of our beautiful area and are continuing to work with our partners and support others where we can." The council says its Bay Run, Arts By the Sea Festival and Christmas in Bournemouth events will still go ahead. But, with 12-months needed to organise the air show, any potential air show sponsor or operator would now be working towards 2027 at the earliest. You can follow BBC Dorset on Facebook, X (Twitter), or Instagram. Bournemouth Air Festival in doubt as sponsor search ends In pictures: Bournemouth Air Festival 2024 BCP Council
Morocco World
7 days ago
- Business
- Morocco World
Two Moroccan Banks Make 2025 Forbes Global 2000 List
Doha – Two Moroccan banking giants, Attijariwafa Bank and Banque Centrale Populaire (BCP), have secured positions in the prestigious Forbes Global 2000 ranking of the world's largest publicly traded companies for 2025. Attijariwafa Bank, led by CEO Mohamed El Kettani, ranks 979th globally with impressive financial metrics. The bank reported $4.84 billion in revenue, $956 million in profits, $71.7 billion in assets, and a market capitalization of $14.44 billion. Founded in 1911 and headquartered in Casablanca, Attijariwafa Bank employs over 20,583 people. The bank provides international commercial banking services through various business areas, including domestic banking, Europe and offshore; specialized financial subsidiaries; international retail banking; and insurance and property. BCP, under the leadership of Naziha Belkeziz, placed 1,812th in the global ranking. The bank posted revenues of $3.3 billion, profits of $416 million, assets valued at $53.5 billion, and a market capitalization of $5.97 billion. Established in 1926 with headquarters also in Casablanca, BCP operates as a commercial bank focusing on banking intermediation and management services. The institution employs 2,717 people and was formally incorporated on February 2, 1961. The Forbes Global 2000 list, now in its 23rd edition, evaluates companies based on four equally weighted criteria: revenue, profits, assets, and market value. Africa's representation in the ranking remains limited, with only 17 companies making the cut. South Africa dominates the continental presence with 14 companies, followed by Morocco with two and Egypt with one. Attijariwafa Bank and BCP rank 6th and 16th, respectively, among African entries. The global ranking continues to be topped by American companies, with JPMorgan Chase maintaining its top position for the third consecutive year. The US has 612 companies on the list, while China follows with 317. The top 10 global companies include JPMorgan (USA), Berkshire Hathaway (USA), ICBC (China), Saudi Aramco (Saudi Arabia), Amazon (USA), Bank of America (USA), China Construction Bank (China), Agricultural Bank of China (China), Alphabet (USA), and Microsoft (USA). Collectively, the 2,000 companies in this year's ranking represent $52.9 trillion in annual revenue, $4.9 trillion in profits, $242.2 trillion in assets, and a combined market capitalization of $91.3 trillion. Banking remains the most represented industry in the ranking with 328 institutions. The sector's strong presence is partly attributed to banks' naturally high asset values, with 88 of the top 100 companies by assets being financial institutions. Read also: Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20 Tags: Attijariwafa Bank GroupBanque Centrale Populaire (BCP)Forbes
Yahoo
12-06-2025
- Business
- Yahoo
NV Energy asking to raise rates by more than twice as much as needed, say experts
(Photo: Ronda Churchill/Nevada Current) The Attorney General's Bureau of Consumer Protection says NV Energy requires less than half of the $224 million rate hike it's asking the Public Utilities Commission to approve for Southern Nevada customers, and criticized the utility for attempting to charge ratepayers for lavish spending on lodging and limos for company gatherings. The 9% proposed rate hike is expected to cost the average customer an additional $15 to $20 a month. An expert witness testifying on behalf of the BCP, Mark Garrett, says NV Energy, based on a formula used to determine its revenue requirement, needs a rate hike of $106 million to provide service to its customers in the south. The utility is asking the PUC to include in the rate hike the cost of constructing Greenlink, a massive transmission line project, while it is still under construction and not benefitting ratepayers. Greenlink's cost has ballooned from just under $2.5 billion to more than $4.2 billion, and could increase even more, depending on the outcome of President Donald Trump's trade wars with Mexico and Canada. The increase related to Greenlink alone would hike rates by $60.6 million, or about $3.60 a month, for a little more than two years. The company argues that including the cost of construction while in progress, which is usually not permitted because it requires customers to pay for a service not yet provided, will generate cash flow, and help maintain credit ratings. In 2021, NV Energy's then-CEO Doug Cannon told state lawmakers that 'Nevadans will not be asked to pay for this investment until at least five to six years down the road.' Cannon left the company last month, following the revelation that the utility overcharged some 80,000 customers, some going back as far as 20 years. 'The company is faced with meeting the demands of growth, addressing system reliability, resource adequacy, legislative goals and mandates, and operational needs as it relates to sufficient levels of staffing, technology, and insurance – all of which necessitates investments above those currently reflected in the existing revenue requirement,' NV Energy vice president and chief financial officer Mike Behrens said in testimony submitted to the PUC, justifying the utility's rate requests. Behrens testified that including the costs of constructing Greenlink, while work is in progress, would help avoid a bond rating downgrade and higher interest rates on future debt. Garrett, on behalf of the BCP, recommended the cost of constructing Greenlink not be included in the upcoming rate case. 'The company has not demonstrated a financial need,' Garrett countered, and said the claim that charging customers now for constructing the project would save money 'is inaccurate.' While including the cost of construction in progress in the base rate would save the company $35 million in interest, it would cost customers $52.7 million in higher rates, and 'makes no economic sense for ratepayers,' Garrett testified. NV Energy is also seeking to recoup $16.4 million in affiliate expenses incurred by the company or its affiliates, such as Berkshire Hathaway Energy, its holding company. Among the expenses is an invoice for just under $1.3 million for Red Rock Resort, including $14,940 for incidentals, $152,156 for 'guest room attrition,' $575,068 for banquet food and beverages, $17,140 for internet, $78,482 for audio/visual services, and $3,248 for luggage porters. Nichole Loar of the BCP recommended the PUC disallow all $16.4 million in affiliate expenses – including: Chauffeured transportation services; Washington, D.C. office building and related labor; 'Excessive lodging charges' at the Four Seasons Hotel in Washington, D.C. and the J.W. Marriott in Phoenix; Lobbying expenses; Outside counsel; Corporate airfare; Alcoholic beverages; Entertainment; and Charitable donations 'The utility needs to be reminded they operate with a Certificate of Public Convenience and Necessity (given by the PUC), which is a privilege to serve as a monopolistic entity, not a right,' Loar testified. 'The recent proposed increases are placing vulnerable demographics at a heightened risk for heat-related illnesses, such as heatstroke,' Las Vegan Angel DeFazio of the National Toxic Encephalopathy Foundation said in a news release following a consumer input session last week on the proposed increase. She noted that seniors and others on fixed incomes are challenged to cover essential expenses, such as food and medicine, and pay for energy, especially during the summer months when bills skyrocket. The PUC is expected to hold hearings on the proposed rate hike in September. If approved, rates would increase on Oct. 1.
