Latest news with #Taieb
Business Times
18-07-2025
- Automotive
- Business Times
Inside the fizzy world of Europe's fastest-growing car brand
[Barcelona] Before you drive a Cupra, you can literally get a taste of it. Just pop open a can of Cupra by Vichy Catalan. The zero-sugar soda tries to bottle the brand's Mediterranean DNA and rebellious spirit, and has a gingery lime kick. Remarkably, the fizzy drink didn't spring from Cupra's marketing minds, but from the department that decides things like colour and engine options. 'That was someone from the product management team saying 'I wanna work on the taste of Cupra',' Cecilia Taieb, Cupra's global director of communications, told The Business Times. 'And then he developed this. It's actually super funny because now you can buy it in any supermarket, and we sold more than we expected, you know?' Barcelona-based Cupra isn't trying to muscle in on Red Bull's turf, but to broaden its cultural relevance. Likewise, it has partnerships with FC Barcelona and the America's Cup, and launched Cupra Design House in April. More creative side project than business unit, it gives its car designers a chance to team up with stylists from other fields. Coming up: a collaboration with Harper Collective, the luggage firm co-founded by Jaden Smith. Head of design Jorge Diez told BT that Cupra's desire to be different means shunning the car industry. 'I always tell my team, don't look at what the other car companies are doing,' he said. 'Do your own thing.' A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Diez even sees seven-year-old Cupra's lack of history as a plus. 'We don't have heritage and sometimes for design this could be an advantage, because you can think freely about the future, you can create actually what you feel is the best for the product.' Cupra has a startup mentality because it is the only one of Volkswagen Group's 10 brands that it actually created itself. It started life as the go-faster division of Seat, a chronically underperforming Spanish subsidiary that VW acquired in 1986. The name itself comes from 'cup racing', and for years it appeared as a badge on souped-up Seat models. But VW spun off Cupra just as the broader car industry was mulling over the idea of trimming brands. So far, the gamble has paid off. It sold 14,400 cars in its first year, and sales have since grown by 17 times, giving it bragging rights as Europe's fastest-growing car brand, and powering Seat to a record 633 million euros in operating profit last year. Along the way, it has also managed to woo more youthful drivers. Cupra's customers are typically 10 to 12 years younger than the average new car buyer in Europe. 'I'm lucky, because I don't have anything to protect. We've only been in the world for seven years,' Taieb said. 'Say if suddenly I do a sex toy of Cupra, there won't be all these people that say, 'Oh, my God, you're killing the brand!' No. We can fail, wake up again, and go.' While Taieb likes to play up Cupra's rebellious spirit, she admits that VW's financial, manufacturing and technical clout, plus its extensive dealer network, made its rapid growth possible. Yet, she sees an upper limit on Cupra's size – 500,000 cars a year, or double its current volume, at which point the brand would be too mainstream. 'If you have a big family and you want to go from A to Z with a car, don't buy a Cupra,' Taieb said. 'Cupra is not for everybody to like, but for some people to love.' Much like its gingery drink, Cupra is meant to be an acquired taste.
eNCA
21-06-2025
- Business
- eNCA
Sahel juntas pile pressure on foreign mining firms
ABIDJAN - Army strongmen who have seized power in coups across Africa's Sahel region since 2020 have ramped up pressure on foreign mining companies in the name of greater control over their countries' riches. Niger's nationalisation of the local branch of French uranium giant Orano on Thursday is the latest such measure by the junta and its allies in Burkina Faso and Mali. In particular the coup-hit trio, which have all turned their backs on their shared former colonial master France in favour of stronger ties with Russia, have placed Western firms firmly in their sights. - Tug-of-war - Niger's nationalisation of Orano's local branch Somair has brought a months-long struggle with the French firm to a peak. Orano, which is 90-percent owned by the French state, had already admitted to having lost operational control of its subsidiary months ago. Meanwhile in Mali, Canadian giant Barrick Mining is locked in a tug-of-war with the army over a mining code that came into force in 2023. The military is demanding hundreds of millions of dollars of back taxes from the firm. Barrick has since lost control of Loulo-Gounkoto, the country's largest gold mine, in which the Canadian firm holds a majority stake. In November 2024, Malian soldiers arrested the director of Australia's Resolute Mining, along with two employees. All were subsequently released after Resolute agreed to pay the junta $160 million in exchange. Other mine companies such as Canada's allied Gold, B2Gold and Robex had previously agreed to review their activities and pay to settle their tax or customs dispute. And in 2023 Burkina Faso seized 200 kilograms (440 pounds) of gold produced by a branch of Canada's Endeavour Mining on "public necessity" grounds. - End of resource sell-out - For the juntas, the point of the push against foreign mining companies is to reestablish sovereignty and control over their national resources. Where they believed the Sahel's resource riches were previously sold out to foreigners, and to the West in particular, today the army leaders promise their people that ordinary citizen will receive a greater share of the profits from the wealth under their feet. Niger produces nearly five percent of the world's uranium. Gold makes up a quarter of Mali's national budget. And Burkina Faso's gold production contributes around 14 percent of the country's revenues, according to official statistics. "The population sees this as a push to free states which were previously, according to the new authorities, subservient to Westerners and therefore foreign interests," said Jeremie Taieb, director of consulting firm Tikva Partners. This rejection therefore "helps to satisfy public opinion and nurtures a narrative that allows those in power to keep it", Taieb added. All three countries are plagued by jihadist violence, which has claimed thousands of lives across the region. Besides economic sanctions imposed on the juntas in the wake of the coups, "the pressures exerted to fund the fight against terrorism" provide as good a reason as any "to extract more income from the sector", said Beverly Ochieng, an analyst at Control Risks. - International arbitration attempts - To fight back against the juntas, the mining industry has looked to international arbitration. Barrick has turned to the International Centre for Settlement of Investment Disputes (ICSID), part of the Washington-based World Bank. France's Orano has launched various lawsuits against the state of Niger, accusing the junta of a "systematic policy of stripping mining assets". In a statement Friday evening, the day after Niger announced its intention to nationalise its subsidiary, the firm said it "intends to claim compensation for all of its damages and assert its rights over the stock corresponding to Somair's production to date". - Russians, Chinese gain upper hand - For Taieb, this "legal instability" in the Sahel could drive investors towards countries with a more reliable business backdrop. But for Control Risks' Ochieng, "foreign firms will probably continue to engage with administrations in the Sahel... as mining assets represent a hefty and long-term investment". In any case the countries that stand to gain most from the current climate are Mali, Niger and Burkina Faso's so-called "security partners" -- especially Turkey, China and Russia. On Monday, Mali and Russia began construction work on a new gold refinery in the Malian capital Bamako. Moscow has also sent mercenaries from its paramilitary Africa Corps to the Sahel country to help fight jihadists. For the Russians, the deal is "minerals for weapons, in the same way that for the Chinese, it's minerals for infrastructure", said Taieb.
France 24
20-06-2025
- Business
- France 24
Sahel juntas pile pressure on foreign mining firms
Niger's nationalisation of the local branch of French uranium giant Orano on Thursday is the latest such measure by the junta and its allies in Burkina Faso and Mali. In particular the coup-hit trio, which have all turned their backs on their shared former colonial master France in favour of stronger ties with Russia, have placed Western firms firmly in their sights. - Tug-of-war - Niger's nationalisation of Orano's local branch Somair has brought a months-long struggle with the French firm to a peak. Orano, which is 90-percent owned by the French state, had already admitted to having lost operational control of its subsidiary months ago. Meanwhile in Mali, Canadian giant Barrick Mining is locked in a tug-of-war with the army over a mining code that came into force in 2023. The military is demanding hundreds of millions of dollars of back taxes from the firm. Barrick has since lost control of Loulo-Gounkoto, the country's largest gold mine, in which the Canadian firm holds a majority stake. In November 2024, Malian soldiers arrested the director of Australia's Resolute Mining, along with two employees. All were subsequently released after Resolute agreed to pay the junta $160 million in exchange. Other mine companies such as Canada's allied Gold, B2Gold and Robex had previously agreed to review their activities and pay to settle their tax or customs dispute. And in 2023 Burkina Faso seized 200 kilograms (440 pounds) of gold produced by a branch of Canada's Endeavour Mining on "public necessity" grounds. End of resource sell-out For the juntas, the point of the push against foreign mining companies is to reestablish sovereignty and control over their national resources. Where they believed the Sahel's resource riches were previously sold out to foreigners, and to the West in particular, today the army leaders promise their people that ordinary citizen will receive a greater share of the profits from the wealth under their feet. Niger produces nearly five percent of the world's uranium. Gold makes up a quarter of Mali's national budget. And Burkina Faso's gold production contributes around 14 percent of the country's revenues, according to official statistics. "The population sees this as a push to free states which were previously, according to the new authorities, subservient to Westerners and therefore foreign interests," said Jeremie Taieb, director of consulting firm Tikva Partners. This rejection therefore "helps to satisfy public opinion and nurtures a narrative that allows those in power to keep it", Taieb added. All three countries are plagued by jihadist violence, which has claimed thousands of lives across the region. Besides economic sanctions imposed on the juntas in the wake of the coups, "the pressures exerted to fund the fight against terrorism" provide as good a reason as any "to extract more income from the sector", said Beverly Ochieng, an analyst at Control Risks. International arbitration attempts To fight back against the juntas, the mining industry has looked to international arbitration. Barrick has turned to the International Centre for Settlement of Investment Disputes (ICSID), part of the Washington-based World Bank. France's Orano has launched various lawsuits against the state of Niger, accusing the junta of a "systematic policy of stripping mining assets". In a statement Friday evening, the day after Niger announced its intention to nationalise its subsidiary, the firm said it "intends to claim compensation for all of its damages and assert its rights over the stock corresponding to Somair's production to date". - Russians, Chinese gain upper hand - For Taieb, this "legal instability" in the Sahel could drive investors towards countries with a more reliable business backdrop. But for Control Risks' Ochieng, "foreign firms will probably continue to engage with administrations in the Sahel... as mining assets represent a hefty and long-term investment". In any case the countries that stand to gain most from the current climate are Mali, Niger and Burkina Faso's so-called "security partners" -- especially Turkey, China and Russia. On Monday, Mali and Russia began construction work on a new gold refinery in the Malian capital Bamako. Moscow has also sent mercenaries from its paramilitary Africa Corps to the Sahel country to help fight jihadists. For the Russians, the deal is "minerals for weapons, in the same way that for the Chinese, it's minerals for infrastructure", said Taieb.
Int'l Business Times
20-06-2025
- Business
- Int'l Business Times
Sahel Juntas Pile Pressure On Foreign Mining Firms
Army strongmen who have seized power in coups across Africa's Sahel region since 2020 have ramped up pressure on foreign mining companies in the name of greater control over their countries' riches. Niger's nationalisation of the local branch of French uranium giant Orano on Thursday is the latest such measure by the junta and its allies in Burkina Faso and Mali. In particular the coup-hit trio, which have all turned their backs on their shared former colonial master France in favour of stronger ties with Russia, have placed Western firms firmly in their sights. Niger's nationalisation of Orano's local branch Somair has brought a months-long struggle with the French firm to a peak. Orano, which is 90-percent owned by the French state, had already admitted to having lost operational control of its subsidiary months ago. Meanwhile in Mali, Canadian giant Barrick Mining is locked in a tug-of-war with the army over a mining code that came into force in 2023. The military is demanding hundreds of millions of dollars of back taxes from the firm. Barrick has since lost control of Loulo-Gounkoto, the country's largest gold mine, in which the Canadian firm holds a majority stake. In November 2024, Malian soldiers arrested the director of Australia's Resolute Mining, along with two employees. All were subsequently released after Resolute agreed to pay the junta $160 million in exchange. Other mine companies such as Canada's allied Gold, B2Gold and Robex had previously agreed to review their activities and pay to settle their tax or customs dispute. And in 2023 Burkina Faso seized 200 kilograms (440 pounds) of gold produced by a branch of Canada's Endeavour Mining on "public necessity" grounds. For the juntas, the point of the push against foreign mining companies is to reestablish sovereignty and control over their national resources. Where they believed the Sahel's resource riches were previously sold out to foreigners, and to the West in particular, today the army leaders promise their people that ordinary citizen will receive a greater share of the profits from the wealth under their feet. Niger produces nearly five percent of the world's uranium. Gold makes up a quarter of Mali's national budget. And Burkina Faso's gold production contributes around 14 percent of the country's revenues, according to official statistics. "The population sees this as a push to free states which were previously, according to the new authorities, subservient to Westerners and therefore foreign interests," said Jeremie Taieb, director of consulting firm Tikva Partners. This rejection therefore "helps to satisfy public opinion and nurtures a narrative that allows those in power to keep it", Taieb added. All three countries are plagued by jihadist violence, which has claimed thousands of lives across the region. Besides economic sanctions imposed on the juntas in the wake of the coups, "the pressures exerted to fund the fight against terrorism" provide as good a reason as any "to extract more income from the sector", said Beverly Ochieng, an analyst at Control Risks. To fight back against the juntas, the mining industry has looked to international arbitration. Barrick has turned to the International Centre for Settlement of Investment Disputes (ICSID), part of the Washington-based World Bank. France's Orano has launched various lawsuits against the state of Niger, accusing the junta of a "systematic policy of stripping mining assets". In a statement Friday evening, the day after Niger announced its intention to nationalise its subsidiary, the firm said it "intends to claim compensation for all of its damages and assert its rights over the stock corresponding to Somair's production to date". For Taieb, this "legal instability" in the Sahel could drive investors towards countries with a more reliable business backdrop. But for Control Risks' Ochieng, "foreign firms will probably continue to engage with administrations in the Sahel... as mining assets represent a hefty and long-term investment". In any case the countries that stand to gain most from the current climate are Mali, Niger and Burkina Faso's so-called "security partners" -- especially Turkey, China and Russia. On Monday, Mali and Russia began construction work on a new gold refinery in the Malian capital Bamako. Moscow has also sent mercenaries from its paramilitary Africa Corps to the Sahel country to help fight jihadists. For the Russians, the deal is "minerals for weapons, in the same way that for the Chinese, it's minerals for infrastructure", said Taieb.
