Latest news with #UKDepartmentforBusinessandTrade
Ya Biladi
02-06-2025
- Business
- Ya Biladi
Morocco and UK sign series of agreements in water, energy, health, and education sectors
During the UK Foreign Secretary's visit to Morocco, which concluded with the UK endorsing Morocco's autonomy plan for the Sahara as the most credible solution to the conflict, a series of landmark agreements were signed with Foreign Minister Nasser Bourita to strengthen cooperation across critical sectors and drive mutual growth and innovation. One of the key agreements is a government-to-government partnership between the UK Department for Business and Trade and Morocco's Ministry of Budget, aimed at supporting critical infrastructure projects ahead of the 2030 World Cup, reads a joint press release on Sunday. In the water and ports sector, a Memorandum of Understanding (MoU) was signed between the UK Department for Business and Trade and Morocco's Ministry of Equipment and Water, focusing on enhancing collaboration in sustainable water management, smart logistics, and green port technologies. For sustainable infrastructure, an agreement with Morocco's Ministry of Interior will facilitate partnerships on water management, waste management, and urban mobility solutions. In the field of trade and procurement, an MoU was signed with Morocco's Ministry of Industry and Trade to promote procurement cooperation, building on record trade volumes under the UK-Morocco Association Agreement. In education and innovation, the two countries signed an MoU to advance cooperation in higher education, scientific research, and innovation. Healthcare was another key focus, with an MoU between the UK and Morocco's Ministry of Health to support Morocco's healthcare transformation programme. This collaboration also includes work with Rabat-based Medical equipment manufacturing company Vicenne to introduce UK digital health solutions into the Moroccan market and a partnership with the Mohammed VI Foundation of Health and Science to promote UK expertise in medical equipment, hospital design, and academic partnerships. In the energy and climate sector, several agreements were signed. These include an MoU between UK Export Finance (UKEF) and SGTM to explore partnership opportunities in Morocco and across Africa, an MoU between UKEF and TAQA Morocco to support the transition to a low-carbon power generation portfolio and enhance Morocco's competitiveness, and a climate collaboration MoU between the UK Met Office and Morocco's Meteorological Office, focusing on climate services and environmental cooperation. In aviation, the Moroccan Airports Authority has been invited to visit the UK to explore partnership opportunities, as Morocco undertakes a major airport transformation programme.
Yahoo
02-06-2025
- Business
- Yahoo
PizzaExpress listed by UK government for minimum wage payment failure
Casual dining chain PizzaExpress has been listed among more than 500 companies that failed to pay some staff the UK's legal minimum wage, as reported by The Caterer. According to the UK Department for Business and Trade, 60,000 workers across various companies have been compensated more than £7.4m ($9.96m) due to wage discrepancies. PizzaExpress was second on the list and owed £706,701 to 8,470 workers, averaging £83 per employee. A PizzaExpress spokesperson stated: 'Once we were made aware of this historic unintentional technicality, which occurred between 2012 and 2018, we swiftly identified who was impacted, apologised and rectified [it]. There's nothing more important to us than fairly and accurately paying our team members.' Hilton UK Hotels Limited was also cited for underpaying £18,924 to 20 staff members. The companies have been fined up to 200% of the amount underpaid. Many have attributed the underpayments to past administrative or technical errors. The Caterer reports that these issues were resolved years ago, suggesting that the underpayments were not recent occurrences. The UK National Living Wage in the UK has increased to £12.21 per hour for those aged 21 and over. The minimum wage for workers aged 18 to 20 is now £10 per hour. Those under 18 and apprentices must be paid at least £7.55 on an hourly basis. PizzaExpress secured a significant refinancing deal in April 2025, which will reduce its debt by £55m. The agreement includes a £55m par debt paydown, decreasing the company's debt to £280m. Bain Capital Special Situations and other shareholders have contributed £20m in equity to Wheel Topco, the parent company of PizzaExpress. PizzaExpress was founded by Peter Boizot in London's Soho in 1965. The brand now has more than 360 pizzerias in the UK and Ireland and has expanded into 12 international markets. "PizzaExpress listed by UK government for minimum wage payment failure" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Ya Biladi
02-06-2025
- Business
- Ya Biladi
Morocco, UK sign series of agreemets in water, energy, health, Education, and defence sectors
During the UK Foreign Secretary's visit to Morocco, which concluded with the UK endorsing Morocco's autonomy plan for the Sahara as the most credible solution to the conflict, a series of landmark agreements were signed with Foreign Minister Nasser Bourita to strengthen cooperation across critical sectors and drive mutual growth and innovation. One of the key agreements is a government-to-government partnership between the UK Department for Business and Trade and Morocco's Ministry of Budget, aimed at supporting critical infrastructure projects ahead of the 2030 World Cup, reads a joint press release on Sunday. In the water and ports sector, a Memorandum of Understanding (MoU) was signed between the UK Department for Business and Trade and Morocco's Ministry of Equipment and Water, focusing on enhancing collaboration in sustainable water management, smart logistics, and green port technologies. For sustainable infrastructure, an agreement with Morocco's Ministry of Interior will facilitate partnerships on water management, waste management, and urban mobility solutions. In the field of trade and procurement, an MoU was signed with Morocco's Ministry of Industry and Trade to promote procurement cooperation, building on record trade volumes under the UK-Morocco Association Agreement. In education and innovation, the two countries signed an MoU to advance cooperation in higher education, scientific research, and innovation. Healthcare was another key focus, with an MoU between the UK and Morocco's Ministry of Health to support Morocco's healthcare transformation programme. This collaboration also includes work with Rabat-based Medical equipment manufacturing company Vicenne to introduce UK digital health solutions into the Moroccan market and a partnership with the Mohammed VI Foundation of Health and Science to promote UK expertise in medical equipment, hospital design, and academic partnerships. In the energy and climate sector, several agreements were signed. These include an MoU between UK Export Finance (UKEF) and SGTM to explore partnership opportunities in Morocco and across Africa, an MoU between UKEF and TAQA Morocco to support the transition to a low-carbon power generation portfolio and enhance Morocco's competitiveness, and a climate collaboration MoU between the UK Met Office and Morocco's Meteorological Office, focusing on climate services and environmental cooperation. In aviation, the Moroccan Airports Authority has been invited to visit the UK to explore partnership opportunities, as Morocco undertakes a major airport transformation programme. Looking ahead, two additional agreements are set to be signed in the coming days: an MoU between the UK's defence and security trade association, ADS Group, and Morocco's Agency of Investment and Export Development to strengthen links between the UK and Moroccan defence industries; and an MoU between BAE Systems, the Moroccan National Defence Administration, and the Moroccan Agency of Investment and Export Development to advance investment and capability development in the defence sector.
Saudi Gazette
28-05-2025
- Business
- Saudi Gazette
Commerce and sports ministers participate in roundtable on Saudi-British sports cooperation
Saudi Gazette report LONDON — Saudi Minister of Commerce Dr. Majid Al-Qasabi has affirmed at the Saudi-UK Strategic Partnership Council that Saudi vision 2030 launched by Crown Prince Mohammed bin Salman transformed the Saudi economy and created promising opportunities in many vital sectors. He explained that the Saudi-British partnership is unique, and the UK is the second-largest exporter of services in the world. He added that the two countries can cooperate to establish a global integration system that covers many aspects of sports, tourism, culture, arts, and technology, all of which have become a global language that requires no translation. The meeting was also attended by Saudi Minister of Sports Prince Abdulaziz bin Turki, and Sir Chris Bryant, UK's Minister of State for Creative Industries, Arts and Tourism. The roundtable, organized by the National Competitiveness Center in cooperation with the UK Department for Business and Trade, focused on introducing companies to the promising opportunities offered by the Kingdom's hosting of international sporting events, such as the 2034 World Cup. It also addressed opportunities for cooperation in areas supporting the sports sector, such as technology, infrastructure, construction, facility operations, and planning and execution of major events. In a meeting with Jonathan Reynolds, Minister of State for Business and Trade, which was attended by Prince Khalid bin Bandar, Saudi Ambassador to UK, and Neil Crompton, British Ambassador to the Kingdom, Al-Qasabi discussed enhancing cooperation in developing the sports sector in light of Saudi hosting major events such as the 2034 World Cup. They reviewed the progress of initiatives emerging from the economic and social committees of the Saudi-British Strategic Partnership Council, including developments in the negotiations of the Free Trade Agreement between UK and the Gulf Cooperation Council countries. During the meeting, the two sides highlighted the importance of the Saudi-British Future Skills Initiative and its impact on developing skills in sectors of mutual interest, in addition to the continuation of the Great Futures Initiative for 2025. The Saudi delegation's agenda on the first day included a field visit to Queen Elizabeth Olympic Park and its facilities. The delegation was briefed on the facilities' capabilities and experience in hosting entertainment and sporting events. The participating entities in the visit included the ministries of Commerce, Sports, Investment and Finance, the Supreme Committee for Hosting the 2034 World Cup, the Public Investment Fund, the National Competitiveness Center, the Saudi Business Center, the National Center for Privatization, and a number of major national companies specializing in sports events, infrastructure, and media. Al-Qasabi arrived in the British capital, London, on a working visit, accompanied by a delegation comprising officials from nine government agencies and 30 leaders from the business sector and major national companies. The visit aims to build economic partnerships in the sports sector between the two countries, strengthen relations across various priority sectors, and raise the level of commercial partnerships.
Time of India
06-05-2025
- Business
- Time of India
UK's Keir Starmer accepts PM Modi's invitation to visit India
British Prime Minister Keir Starmer has accepted an invitation from Indian Prime Minister Narendra Modi to visit India following the finalisation of a landmark UK-India Free Trade Agreement (FTA). The deal reduces tariffs on 90% of traded goods and is projected to add £4.8 billion annually to the UK economy by 2040. Agreed in London by ministers from both countries, the FTA covers key sectors including whisky, cars, and medical devices, with further discussions underway on a Bilateral Investment Treaty. Prime Minister of the United Kingdom Keir Starmer posted on X, "The horrific terrorist attack in Kashmir today is utterly devastating. My thoughts are with those affected, their loved ones, and the people of India." (Credits: ANI) Tired of too many ads? Remove Ads Multi-billion Pound deal locked in Tired of too many ads? Remove Ads Tariff reductions on key goods Strategic wins and economic impact Tired of too many ads? Remove Ads British Prime Minister Keir Starmer has agreed to visit India soon, after receiving a formal invitation from his Indian counterpart, Narendra Modi. The announcement came on Tuesday, the same day the two leaders sealed a long-negotiated trade deal between their countries.'Prime Minister Modi extended an invitation to India, which the Prime Minister was pleased to accept and said he looked forward to visiting India at the earliest opportunity,' a Downing Street spokesperson timing of the visit is yet to be announced, but the acceptance signals a renewed chapter in the UK-India acceptance of Modi's invitation came just as the two governments confirmed the completion of a wide-ranging Free Trade Agreement (FTA). This deal reduces tariffs on 90 per cent of goods traded between the UK and India. It is forecast to add £4.8 billion annually to the UK economy by a phone conversation described as 'very warm,' both leaders reached final agreement on the FTA. The legal text will now go through the formal approval process in the British Parliament before it takes effect.'Today we have agreed a landmark deal with India – one of the fastest growing economies in the world, which will grow the economy and deliver for British people and business,' said Starmer in an official the most significant gains for the UK are in high-demand export sectors. Scotch whisky duties will be halved—from 150 per cent to 75 per cent. For UK automakers, tariffs are set to fall sharply from 100 per cent to just 10 per cent under a specified UK products seeing reduced duties include gin, medical devices, advanced machinery, and lamb. According to the UK Department for Business and Trade, the deal could cut Indian tariffs worth over £400 million in its early phase, growing to around £900 million over ten years.'This agreement represents a significant milestone in UK-India relations, underscoring the potential of our partnership and the opportunities that lie ahead,' said Manoj Ladwa, Founder and Chairman of the India Global from the UK government place current annual trade between the two countries at £41 billion. The FTA is expected to boost this figure by £25.5 billion over time. It may also raise UK wages by £2.2 billion each year in the long term. UK Business and Trade Secretary Jonathan Reynolds called it a pragmatic win. 'By striking a new trade deal with the fastest-growing economy in the world, we are delivering billions for the UK economy and wages every year and unlocking growth in every corner of the country, from advanced manufacturing in the North-East to whisky distilleries in Scotland,' he said.'In times of global uncertainty, a pragmatic approach to global trade that provides businesses and consumers with stability is more important than ever,' he deal also includes provisions aimed at making professional mobility easier. While the UK emphasised it will not change its broader immigration rules, business mobility procedures will be succeeded in getting new visa categories recognised for chefs, musicians and Yogis under the UK's professional visa key Indian demand, the Double Contributions Convention, has also been addressed. Under this, professionals working across both countries will no longer be required to pay into both national insurance and social security systems, reducing double taxation trade pact follows years of detailed negotiations that had paused in 2024 due to general elections in both countries. Talks resumed this February, picking up momentum accompanying Bilateral Investment Treaty (BIT), which was being negotiated in parallel, remains incomplete. However, UK officials remain optimistic that it too will reach a final agreement trade deal is widely seen as a breakthrough moment, offering long-term strategic and economic benefits for both sides, while also cementing stronger diplomatic ties between New Delhi and London.
