Category: 3. Business

The emergency power generators based on 20-cylinder mtu Series 4000 P63 engines, each with an output of 2,600 kWe, ensure that the power supply on the converter platforms remains stable even if the main power supply fails. They also ensure that control and monitoring systems continue to operate, that the infrastructure of the service crew quarters is maintained, and that lighting and other safety-critical systems do not fail. They also supply power for cooling and ventilation of important system components to prevent damage from overheating. In extreme cases, the emergency power generators enable the systems to be shut down and restarted in a controlled manner.

“The engines have to be extremely reliable because they are the piece of the puzzle that matters when it comes down to it,” explained Detlev Köster, Sales Manager in the Offshore business at Rolls-Royce Power Systems. “We are delighted that Eureka Pumps is continuing to rely on our products in project phase 2.”

Rolls-Royce secures critical infrastructure worldwide in line with its strategy: The company offers mtu emergency power solutions based on diesel and gas generators as well as dynamic uninterruptible power systems (UPS). In addition to offshore platforms, these include data centers, industrial plants, airports, hospitals, power plants, and numerous other facilities that require an uninterruptible power supply.

Sainsbury’s has recorded its strongest growth since last summer after its Argos chain recorded a big step up in sales as shoppers sought out paddling pools and fans during recent hot weather.

The retail group said Argos, its catalogue shop, was able to achieve growth of 4.4% in the three months to 21 June, up from 1.9% in the previous quarter. Comparable group sales, excluding fuel, rose 4.7% on a year earlier.

The group’s total sales rose 4.9%, helped by the strong trading at Argos and a rise in clothing sales as shoppers snapped up shorts and swimsuits, as well as healthy demand for its premium food ranges. That excludes fuel, where sales fell partly because of price decreases.

The retailer said it had achieved the strong sales despite a “subdued, highly competitive and deflationary general merchandise market” as it booked rapid growth in online sales and via its app. Sales in stores declined, partly because of further closures as many Argos sites move from high streets into Sainsbury’s supermarkets.

Sainsbury’s, the UK’s second biggest supermarket chain, said it had cut prices compared with all “key competitors” as it was on track to cut £1bn in costs by March 2027. Costs were partly lowered by a shift to self-service tills and SmartShop handsets, with which shoppers scan goods in their basket on the go.

The figures indicate that Sainsbury’s is holding out against a wave of price cuts and improved service at Asda, the UK’s third largest supermarket chain, which aims to win back shoppers after more than a year of sales declines.

Simon Roberts, the chief executive of Sainsbury’s, said: “Our winning combination of great value, outstanding quality, excellent availability and leading customer service has driven further share gains, reaching our highest market share in almost a decade.

“We have great momentum, growing faster than the market for three consecutive years and we are well set to deliver another strong performance over the summer. Boosted by a sunny spring, we’re already off to a great start,” he said.

However, the strong sales figures were helped by an increase in food inflation, which rose to 3.7% in June, up from 2.8% in May. The British Retail Consortium said hot weather, with temperatures close to record levels this month, was hitting harvest yields.

Retailers have warned since Rachel Reeves’s autumn budget that the chancellor’s £25bn increase in employer national insurance contributions and 6.7% national living wage rise, introduced from April, would force them to raise their prices.

Today, NTC offers year-round testing services under a wide range of conditions, including high-speed endurance and complex handling scenarios as well as ADAS validation and autonomous driving testing. These capabilities ensure the development of high-performance, intelligent, connected, and safe vehicles. Its 700-hectare site today features 20 test tracks and facilities, including the iconic high-speed ring, a 6.2-kilometer handling course, and state-of-the-art simulation technologies.

“We are honored to celebrate this special anniversary and feel a deep sense of responsibility for what NTC represents,” says Antonio Gratis, Managing Director of NTC. “We are proud of its history, of its contribution to the industry and of the many people who shaped it over time,” adds Gratis. “This is not just a test center – it’s a place where technology and purpose come together to move the mobility forward and where the next chapters of innovation are already being written.”

Originally established by Fiat, the proving ground quickly earned a reputation for its groundbreaking 12.6-kilometer circular high-speed ring track — a revolutionary concept at that time and still unique in its shape and dimension. Over the decades, NTC has been enhancing its testing capabilities with additional tracks and facilities, serving as pivotal proving ground for diverse testing requirements and as the venue of numerous historic milestones – including multiple speed records and endurance tests that have shaped automotive engineering standards worldwide.

Acquired by the Porsche Group in 2012, NTC became a core part of the comprehensive development and validation ecosystem of Porsche Engineering, an international engineering services provider for global B2B customers. The integration into Porsche Engineering’s global network marked a new chapter, driving significant investments in modernization, infrastructure, and digitalization. It also extended capabilities across the entire vehicle development process – including seamless, real and virtual development workflows. This solidified NTC’s vital role as a leading technology partner for next-generation mobility by addressing the evolving demands of the global automotive industry.

In 2021, NTC transformed a former facility into a cutting-edge lithium-ion battery testing center. With the installation of a robust charging infrastructure, NTC has become a key partner for electric vehicle testing. In 2023, NTC broadened its technological footprint and expertise in Southern Italy by establishing a dedicated software unit in nearby Lecce. This addition enhanced NTC’s capabilities in software development, simulation, and digital innovation – while closely connecting it to the on-site validation solutions at the proving ground, including a 5G hybrid mobile private network.

Beyond its technological impact, NTC plays an important role in Southern Italy’s economy and serves a local innovation hub. Over the last decade, it contributed an average of 20 million euros per year to the local economy. Through strong partnerships with local universities, technical schools (ITS), and via a dual education system, NTC actively fosters high-level talent and develops future-ready skills in the Salento region.

About NTC

Nardò Technical Center (NTC) is a vehicle testing and development facility located in Apulia, Southern Italy. It provides 20 state-of-the-art test tracks and facilities across 700 hectares, including a 12.6-kilometer high-speed ring that enables extreme-condition testing for automotive manufacturers and suppliers worldwide. Activities range from physical vehicle testing to simulation, software development, and digital innovation, supported by a dedicated software unit based in Lecce. Founded in 1975, NTC has been owned by Porsche and operated by Porsche Engineering since 2012 and currently employs over 200 professionals. It collaborates with more than 90 automotive companies globally and has hosted some of the most advanced testing and development programs in the industry. From high-speed trials to cutting-edge simulations, NTC continues to play a key role in shaping the future of connected, intelligent, and safe mobility.

About Porsche Engineering

Porsche Engineering Group GmbH is an international technology partner to the automotive industry. The subsidiary of Dr. Ing. h.c. F. Porsche AG is developing and integrating technological solutions for its B2B customers within and beyond automotive industries – including systems, hardware, functions and software. Some 2,000 conceptual experts, engineers and software architects and developers are dedicated to the latest technologies, for example in the fields of highly automated driving functions, e-mobility and high-voltage systems, connectivity and artificial intelligence. Their aim is to carry the tradition of Ferdinand Porsche’s design office, founded in 1931, into the future and develop and integrate innovative solutions for the top tech challenges of their industry customers. In doing so, they combine in-depth vehicle and system expertise with digital and software expertise.

1 July 2025

• Short-term track (Pontes) to pilot link between distributed ledger technology platforms and TARGET Services by end-2026
• Long-term track (Appia) to shape future-ready, innovative, integrated financial ecosystems
• Initiatives will deliver on Eurosystem’s continuing commitment to safe, efficient settlement in central bank money

The ECB’s Governing Council has approved a plan that will enable settling distributed ledger technology (DLT) transactions using central bank money. The initiative follows a two-track approach: the first track “Pontes” provides a short-term offering to the market – including a pilot phase – and the second track “Appia” focuses on a potential long-term solution. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures.

Pontes will offer a Eurosystem DLT-based solution, linking DLT platforms and TARGET Services to settle transactions in central bank money. The Eurosystem plans to launch a pilot for Pontes by the end of the third quarter of 2026. It will offer a single Eurosystem solution which incorporates features used in the Eurosystem’s exploratory work on DLT in 2024. During the pilot, the Eurosystem will also explore the feasibility of further enhancements in line with the TARGET Services operational, legal and technical standards. Between now and the launch of the Pontes pilot, the Eurosystem will consider requests for further DLT-related trials and experiments.

Appia focuses on a long-term approach for an innovative and integrated ecosystem in Europe that also facilitates safe and efficient operations at the global level. The Eurosystem will actively continue to analyse DLT-based solutions and collaborate with public and private stakeholders.

To ensure continuous dialogue with the market, the Eurosystem will establish dedicated market contact groups for both Pontes and Appia. A call for expressions of interest in participating in the Pontes contact group will be published soon.

Pontes and Appia will build on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement, which was conducted between May and November 2024. In this exploratory work, 64 participants conducted over 50 trials and experiments. A dedicated report outlining the results of the exploratory work has been published today.

For media queries, please contact Alessandro Speciale, tel.: +49 172 1670791.

Amsterdam,

ING announced today that, as part of our €2.0 billion share buyback programme announced on 2 May 2025, in total 4,587,249 shares were repurchased during the week of 23 June 2025 up to and including 27 June 2025.

The shares were repurchased at an average price of €18.20 for a total amount of €83,509,456.89. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see share buy back programme.

In line with the purpose of the programme to reduce the share capital of ING, the total number of shares repurchased under this programme to date is 39,687,217 at an average price of €18.34 for a total consideration of €728,031,948.83. To date, approximately 36.40% of the maximum total value of the share buyback programme has been completed.

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ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

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DHAKA (ILO News) – Recognizing these challenges, the International Labour Organization (ILO), in partnership with SME Foundation, with the support of the Government of Canada has organized a seminar under the ProGRESS project to chart a way forward for SMEs. The event brought together entrepreneurs, policymakers, economists, business leaders, and development partners to share ideas and identify concrete solutions to strengthen Bangladesh’s SME ecosystem.

MSMEs: The engine of growth in Bangladesh

Speaking at the seminar, Anwar Hossain, Managing Director of SME Foundation, highlighted that Bangladesh’s SME sector provides employment to around 3.7 million people. He emphasized the importance of showcasing local products through a national display centre and introduced the newly developed Women Entrepreneurs Directory—tools aimed at boosting visibility, supporting market access, and elevating local enterprises.

Safia Tasneem Dola from the Manikganj Women Chamber of Commerce stressed the need to bring grassroots voices—especially those of rural and women entrepreneurs—into national policy discussions.

Nabin Kumar Karna, Specialist from the ILO’s ProGRESS project, opened the discussion by setting the context of MSMEs in Bangladesh, drawing comparisons with other countries in the region. He shared key recommendations on unlocking the sector’s full potential.

Structural barriers and policy gaps

Economist Dr Debapriyo Bhattacharya, keynote speaker at the event, highlighted key challenges including differing SMEs definitions across government institutions, high informality rate, weak social protection systems, and the sector’s heavy reliance on loans. He urged that the upcoming 2025 SME Policy focus on formalization and sustainability, rather than solely financing.

Pedro Jr Bellen, Officer-in-Charge of the ILO Country Office for Bangladesh, echoed these concerns, calling for a coordinated effort to simplify regulations and strengthen value chains. He stated, “SMEs are vital for promoting decent work and inclusive economic growth, and that inclusive employment must be at the heart of every economic and social policies.”

Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), added that improving logistics and strengthening backward linkages would position Bangladesh as a major player in global supply chains. “SMEs must be at the heart of this transition,” he emphasized.

© ILO

Call to Action: Are we doing enough?

Lutfey Siddiqi, Chief Adviser’s Envoy for International Affairs, delivered a powerful message to stakeholders: “SMEs are the drivers. We are just the facilitators. Are we doing enough to support the risk-takers who’ve built this employment engine?”

New tools to support SME formalization

A major highlight of the event was the launch of user-friendly Tax and VAT Manuals designed to help entrepreneurs navigate business regulations more easily. Developed jointly by SME Foundation and the ILO, these manuals aim to simplify what is often a complex and intimidating process for small business owners, helping protect their interests and promote formalization.

Celebrating entrepreneurs and showcasing innovation

The seminar also featured a vibrant product exhibition where 60 entrepreneurs showcased their work, with over 200 participants gathering to exchange ideas and connect with partners.

As Bangladesh marks MSME Day 2025, this event served as a timely reminder: when SMEs succeed, the economy thrives. The ILO remains committed to working alongside partners to promote decent work, inclusive growth, and an enabling environment where small businesses can unlock their full potential.