Latest news with #Spain-based
Muscat Daily
3 days ago
- Business
- Muscat Daily
GS Inima secures financing for solar PV plant at Barka
Muscat – GS Inima, a Spain-based global leader in water infrastructure development and the operation of desalination and wastewater treatment plants, has secured the necessary financing to construct a 6.3MWp photovoltaic (PV) plant at the Barka V desalination facility in Oman. This milestone will support the integration of renewable energy into essential infrastructure and reinforces the company's commitment to sustainable water management. The company said that the adoption of renewable sources such as solar power is particularly relevant in countries like Oman, where high temperatures, strong solar irradiance, and the need to ensure sustainable access to water make such solutions vital. 'Integrating clean energy into infrastructure such as Barka V enables the optimisation of resource use, the reduction of carbon emissions, and progress towards a more environmentally sustainable energy model,' GS Inima said in a statement on its website. The new facility, designed for self-consumption, will supply approximately 11% of Barka V's energy needs until 2044. Covering an area of 40,000 square metres, it will be designed, constructed, operated, and maintained by GS Inima. The financing has been made possible with the support of COFIDES, a Spanish public-private entity that promotes the internationalisation and sustainability of businesses by providing funding for overseas investment projects. Operational since June 2024, Barka V is GS Inima's first project in the Middle East. With a production capacity of 100,000 cubic metres per day, it supplies water to over 800,000 residents in the Muscat and Batinah regions – two of the most densely populated areas in the Sultanate. Barka V will be the second project in Oman to incorporate solar power into the desalination process, further enhancing GS Inima's leadership in developing more efficient and environmentally friendly hybrid solutions. Juan José Benayas, CEO of GS Inima Barka 5 Desalination Company, said, 'The financing of the Barka 5 photovoltaic plant marks the culmination of a project that began in 2022. In addition to reaffirming our environmental commitment, GS Inima enhances the profitability of the Barka 5 desalination plant, which is fully owned by the company, and strengthens our presence in the Middle East. COFIDES' support has been crucial, and we would like to express our sincere gratitude to the entire COFIDES team who collaborated with us during this phase of the project.' With this latest achievement, GS Inima consolidates its international leadership in integrated water cycle solutions and continues to invest in resilient, sustainable infrastructure designed to meet future challenges.
Daily Record
3 days ago
- Business
- Daily Record
EasyJet cabin crews in Malaga, Alicante and other Brit holiday hotspots to go on strike
Around 650 members of staff are set to walk out on these dates Hundreds of airline workers based in a number of popular holiday destinations are set to go on strike. EasyJet cabin crew members in Spain will go on strike over their pay for three days next week. It is thought more than 650 flight attendants, based in Alicante, Barcelona, Malaga and Palma de Mallorca, will be involved. According to the Unión Sindical Obrera (USO) union, the industrial action will take place from Wednesday June 25 to Friday June 27. But, as reported by Sky News, the airline said it intended to operate normally and hoped to avoid any disruption. USO explained that the strike action comes as easyJet cabin crews allegedly earn much less in Spain than in other countries. It is claimed that staff at Spanish bases receive between 30 per cent and 200 per cent less in wages than those at other European bases. It is hoped the strike would "level the crews' working and wage conditions in Spain with the ones at other bases of the company in Europe". A spokesperson for the airline said it would do everything it could to minimise the impact of the strikes. An EasyJet spokesperson told The Mirror: "EasyJet has been advised of strike action by its Spain-based cabin crew at its Barcelona, Malaga, Alicante and Palma bases on June 25, 26 and 27. 'We currently plan to operate our full schedule as normal and would like to reassure customers that we will do all possible to minimise the impact of any action." They said that easyJet employed crews in eight different countries "on local terms and conditions". Regulations in Spain mean that airline workers must provide a minimum level of service during industrial action to limit disruption. EasyJet is one of the most popular airlines in the UK, with around 36 million British passengers flying with the company in 2023. The demonstrations come ahead of easyJet's planned reopening of its Newcastle base in spring 2026, nearly five years after its COVID-19-related closure. The budget airline reported a pre-tax loss of £394 million for the six months to the end of March, compared to losses of £350 million last year. However, officials said the figure showed a "slight improvement" of around £50 million when this year's later Easter date was taken into account. EasyJet also said the number of passengers it carried in the first three months of 2025 was 18.2 million, up eight per cent compared with a year ago.
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Business Standard
4 days ago
- Business
- Business Standard
Axiscades Technologies shares hit fresh all-time high today; here's why
Axiscades Technologies share price: Axiscades Technologies shares were in focus on Tuesday, June 17, 2025, rallying up to 5 per cent (upper circuit) to hit a record high of ₹1,282.70. At 11:00 AM, Axiscades Technologies shares continued to remain locked in the 5 per cent upper circuit at ₹1,280.70 per share. In comparison, BSE Sensex was trading 0.29 per cent lower at 81,557.98 levels. Why did Axiscades Technologies shares jump today? Axiscades Technologies shares surged after the company signed a strategic agreement with Spain-based Indra to jointly produce aerospace and defence solutions. Indra is a leading Spanish multinational specialising in defence, air traffic, and space technologies. With a strong presence in over 140 countries and operations in 49, it is known for its innovation, systems integration, and role in major European defence programmes. In FY24, Indra reported revenue of €4.843 billion. Under the pact, Indra aims to procure defence products and services from Axiscades, leveraging its capabilities in design, development, production, and supply chain. The partnership will enable the manufacturing of several Indra systems in India, including antennas for Tactical Air Navigation Systems (TACAN), Distance Measuring Equipment (DME) for in-flight data, and countermeasure systems to protect aircraft from missile threats like MANPADS. Both companies are also exploring joint product development for Indian and global markets, potentially customising existing Indra offerings or creating new ones. Further collaboration is being considered in MPA Airborne Solutions and for DRDO CABS' MRMR and MMMA programmes. 'The collaboration between the two companies strengthens Indra's position in the global aerospace systems market and its network of alliances with companies worldwide,' Axiscades Technologies said. Catch Stock Market Updates Today LIVE About Axiscades Technologies Axiscades Technologies is among the leading technology and product engineering companies with over 25 years of expertise in aerospace, defence, and electronic systems & industrial automation (ESAI). The company provides end-to-end solutions—from conceptual design to manufacturing and certification—making it a trusted partner for OEMs and Tier 1 suppliers worldwide. The market capitalisation of Axiscades Technologies is ₹5,451.17 crore. The company falls under the BSE SmallCap index. The 52-week high of Axiscades Technologies is ₹1,282.70 per share, while its 52-week low is ₹421.05.
Business of Fashion
12-06-2025
- Business
- Business of Fashion
Zara Owner Inditex Posts Slowing Growth
Zara owner Inditex SA reported a muted start to the second quarter and warned that foreign-exchange fluctuations could have a greater impact on results this year than anticipated. The shares tumbled. Revenue at the world's largest listed clothing retailer rose 6% in the five weeks to June 9, excluding currency effects. That was weaker than last year's start to the summer season, the Arteixo, Spain-based retailer said on Wednesday. 'The release fails to dispel concerns on slowing growth,' analysts at Barclays wrote in a note. The company's shares fell as much as 6.4 percent in early Madrid trading. The stock is down about 4.7 percent since the start of the year. Even though current trading is tracking higher than the 4.2 percent sales growth recorded in the first quarter, the latest numbers suggest that Inditex, like its peers, is not immune to a drop in demand prompted by the global trade war. The company has fared better than many of its rivals by keeping tighter controls on inventory, enabling it to remain nimble in a fickle fashion industry, but its sales-growth rates have headed down sharply from the post-pandemic boom era. Swedish rival Hennes & Mauritz AB posted disappointing first-quarter results because of stockpiles of unsold clothing. Foreign-exchange swings are likely to be a greater-than-expected drag on revenue this year, Inditex warned. The company expects currency fluctuations to shave 3 percent off sales this year, up from 1 percent it had expected previously. The adjustment follows a notable depreciation in both the US dollar and the Mexican peso against the euro, shrinking international earnings when converted back to the company's home currency. Other retailers have also signalled the cooling effect FX swings are having with H&M citing a strong kroner as another reason for its weak first-quarter. Last month, German sneaker brand Puma AG said the effect of tariffs and currency fluctuations was challenging to manage. The global garment industry tends to be a dollar-denominated business, which can particularly affect European retailers when they translate earnings back into local currencies. Inditex first spooked the market in March when it signalled a weaker start to its fiscal year, provoking a 7.5 percent fall — the biggest single-day plunge in its shares in five years. In its first quarter ended April 30, operating profit was in line with analyst estimates, while revenue was below expectations. The retailer said costs grew 2.3 percent in the period, rising faster than the 1.5 percent increase in revenue, including currency swings. Asked about the effect of President Donald Trump's tariffs, Inditex said it would use its broad range of suppliers, including those close to home in Spain, Portugal, Turkey and Morocco to manage the situation. 'In any case, I'd say that we see growth opportunities globally, not just in one market,' said Investor Relations Director Gorka Garcia-Tapia Yturriaga on a call with analysts. Over the last few years, the company has invested in both expanding its network of stores and also on refurbishing existing outlets to ensure a better shopping experience for customers. The company plans to spend €1.8 billion ($2 billion) again this year on store improvements and technology, along with an additional €900 million to expand its logistics network. By Clara Hernanz Lizarraga Learn more: The Brewing Controversy Over the Cotton in Your T-Shirt Zara owner Inditex, the world's largest fast fashion company, is ditching the industry's biggest sustainable cotton scheme amid a deforestation scandal and a wider push to prioritise organic fibres.
Yahoo
09-06-2025
- General
- Yahoo
54 migrants rescued from oil platform, where one woman gave birth
Over 50 migrants were headed to the Italian island of Lampedusa Sunday after a charity ship rescued them from an abandoned oil platform in the Mediterranean, where one woman gave birth, according to a rescue group. The vessel Astral, operated by the Spain-based NGO Open Arms, rescued the 54 people overnight, the group said in a statement. The migrants had been trapped on the oil platform for three days after their rubber boat shipwrecked following their departure from Libya on Tuesday, Open Arms said. On Friday, one of the migrants gave birth to a boy, while another woman had given birth days before. Two other young children were among the group, Open Arms said. The group released images on social media, showing rescuers helping transfer the migrants from the oil platform to the Astral. Later Sunday, the charity said that, following the rescue of those on the oil platform, the Astral came upon another 109 people, including four people in the water. That group, which included 10 children, had also departed from Libya, it said. Open Arms said they provided life jackets to the migrants before they were rescued by another charity ship, the Louise Michel, which is sponsored by street artist Banksy. The Louise Michel, a former French navy vessel, was transporting the migrants from Lampedusa to a safe port in Sicily, Open Arms said. The Italian island has been the sight of migrant tragedies before. In December, more than 40 migrants were feared dead off Lampedusa after a lone 11-year-old survivor said the boat she was on capsized, according to the rescue group Compass Collective. It is not unusual for migrants crossing the Mediterranean on leaky and overcrowded boats to seek refuge on offshore oil platforms. As of June 1, some 23,000 migrants had reached Italy by sea this year, according to the U.N. Refugee Agency (UNHCR). Earlier this year, Spanish coastguards rescued a baby that was born on an inflatable vessel carrying migrants to the Canary Islands. The newborn was recovered safely along with their mother on Monday, the coastguard service said in a message on social media. Kristi Noem says "we are not going to let a repeat of 2020 happen" amid L.A. crackdown Magic in the dark: The fantastical worlds of Lightwire Theater Carlos Alcaraz beats Jannik Sinner in epic comeback to win French Open
