For ballet shoes, one Russian company is on pointe

For ballet shoes, one Russian company is on pointe
Dancer Alexandra Kirshina rehearses on pointes made especially for her in the Grishko workshops in Moscow. (AFP)
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Updated 02 March 2020

For ballet shoes, one Russian company is on pointe

For ballet shoes, one Russian company is on pointe
  • Nearly 80% of Grishko’s production is exported around the world

MOSCOW: Craftsman Sergei Murza runs his fingers over the pink satin of a pointe shoe he has just finished making. Then he gives it the final test: the ballet slipper balances perfectly on its tip.
Murza produces the shoes in the Moscow workshop of Grishko, a company born in the chaos of the collapse of the Soviet Union and now one of the world’s top makers of ballet pointe shoes.
In a country better known for exporting oil and arms, Grishko is a rare success story for Russian craftmanship, its shoes sold around the globe and gracing the stages of the world’s top ballet venues.
It’s hardly surprising, founder Nikolay Grishko says, given the aura that surrounds Russia’s storied ballet tradition.
“It is in Russia that classical ballet has reached its highest level,” says the 71-year-old, who founded the company more than 30 years ago and continues to run it.
Grishko has diversified into clothing and other types of dance shoes, but the ballet line is the company’s heart and soul.
Nearly 80 percent of its production is for export, with the United States — where the shoes sell under the brand name Nikolay — and Japan the top buyers.
Inspired by the liberalization of the Soviet Union under Mikhail Gorbachev, Grishko set up the company in 1988.
A former diplomat posted in Laos and economics professor, he found inspiration close to home.
“My wife was a dancer... I already knew what pointes were,” he says in his office at the factory, dapper in a dark suit and black-rimmed glasses.
When he launched the business, Russia’s big theaters like the Bolshoi had their own in-house workshops making pointes. That tradition is now gone, but the expertise built up over centuries lives on in his company.
“I took the best of the tradition of Russian pointes, which have been made since the end of the 19th century. This tradition was passed on in the theater workshops but practically disappeared after the fall of the Soviet Union” in 1991, says the Ukrainian-born Grishko.
Today he employs more than 500 people at workshops in Moscow, the Czech Republic and Macedonia. In Russia, a pair of Grishko pointes sells for the equivalent of 30 euros, in western Europe about twice that.
The Moscow workshop is housed on the grounds of the historic Hammer & Sickle Factory, a Soviet-era institution that once housed a steel plant.
Grishko’s master shoemakers work in silence as they produce 32,000 to 37,000 pairs of pointes per month, using only natural materials.
Cats roam around the work tables as artisans cut cloth, make their own glue, assemble the shoes and dry them in ovens, before a meticulous check for quality.
Among them are some 70 people who are deaf or hard of hearing, says Irina Sobakina, the 53-year-old deputy head of production, praising “the higher sensitivity of their hands.”
In the sewing workshop, Olga Monakhova, who is 56 years old and has worked at the factory for 27 years, recalls orders from famous dancers like Anastasia Volochkova and Nikolay Tsiskaridze.
Across the capital in her studio, dancer Alexandra Kirshina completes a rehearsal on pointes made especially for her.
“We wear them constantly, so it’s important that they fit perfectly,” says the 28-year-old soloist for the Moscow Ballet.
“I used to dance in plastic pointes and I had big problems with my feet.”
Star dancers can go through up to 30 pairs of pointes a month, but professionals account for only 10 percent of Grishko’s buyers. Most sales go to ballet schools.
Grishko says he is even seeing a new kind of client: women who, tired of “boring aerobic exercises” and treadmills, are taking up ballet to keep fit.


Egypt to start electric car production from mid-2022

Egypt to start electric car production from mid-2022
Updated 18 June 2021

Egypt to start electric car production from mid-2022

Egypt to start electric car production from mid-2022
  • Thirteen electric vehicles will be tested on Egyptian streets from next month

CAIRO: Egypt will begin testing electric cars on the country’s streets from July, ahead of plans to launch full-scale production of the vehicles from mid-2022.

Thirteen imported electric vehicles will be tested on Egyptian streets from next month, Hisham Tawfik, minister of the Egyptian public enterprise sector, said while attending the launch of the Nasr E70 electric car.

Nine of the electric cars will be tested by drivers nominated by Uber, the global ride-hailing company, he added.

The Nasr E70 is scheduled to start production in mid-2022 with the El Nasr Automotive Manufacturing Company, an affiliate of the Ministry of Public Enterprise Sector’s Metallurgical Industries Company.

Tawfik said that the ministry began studying the electric car production project in mid-2019 as part of efforts to reform and develop its affiliated companies, including the revival of El Nasr Automotive Company.

FASTFACT

E70

The Nasr E70 is scheduled to start production in mid-2022 with the El Nasr Automotive Manufacturing Company.

The project is in line with the global move toward electric cars and aligns with President Abdel Fattah El-Sisi’s directives to localize the manufacture of vehicles used for clean energy.

The Dongfeng Corporation, one of the largest automobile producers in China, is partnering in the production of the Nasr E70 vehicle, the minister said.

An agreement between El-Nasr and Dongfeng was signed in June 2020 following months of negotiations.

The Ministry of Public Enterprise Sector recently released images of the first electric car of its kind in the country.

El Nasr CEO Hani El-Khouly said that three types of electric car models will be available in Egypt, based on battery capacity.

Batteries initially will be made in China, with production later shifting to Egypt.

Trials of the imported cars will continue for up to four months under a range of Egyptian conditions and with different drivers.

The Nasr E70 can reach a speed of 145 kilometers per hour and travel up to 400 km on a single charge.

El-Khouly said that a delegation from China will arrive in Egypt in July to follow up on the tests.

Government subsidy of the car will total about EGP50,000 ($13,333) to support the local market, he said.


From Australia to Hong Kong, internet outages disrupt services

From Australia to Hong Kong, internet outages disrupt services
Updated 18 June 2021

From Australia to Hong Kong, internet outages disrupt services

From Australia to Hong Kong, internet outages disrupt services
  • Many of the outages were reported by people in Australia trying to do banking, book flights and access postal services.
  • Brief internet service outages are not uncommon and are only rarely the result of hacking or other mischief

SYDNEY: A wave of brief Iinternet outages hit the websites and apps of dozens of financial institutions, airlines and other companies across the globe Thursday.

The Hong Kong Stock Exchange said in a post on Twitter Thursday afternoon Hong Kong time that its site was facing technical issues and that it was investigating. It said in another post 17 minutes later that its websites were back to normal.

Internet monitoring websites including ThousandEyes, Downdetector.com and fing.com showed dozens of disruptions, including to US-based airlines.

Many of the outages were reported by people in Australia trying to do banking, book flights and access postal services.

Australia Post, the country’s postal service, said on Twitter that an “external outage” had impacted a number of its services, and that while most services had come back online, they are continuing to monitor and investigate.

Many services were up and running after an hour or so but the affected companies said they were working overtime to prevent further problems.

Banking services were severely disrupted, with Westpac, the Commonwealth, ANZ and St. George all down, along with the website of the Reserve Bank of Australia. Services have mostly been restored.

Virgin Australia said flights were largely operating as scheduled after it restored access to its website and guest contact center.

“Virgin Australia was one of many organizations to experience an outage with the Akamai content delivery system today,” it said. “We are working with them to ensure that necessary measures are taken to prevent these outages from reoccurring.”

Akamai counts some of the world’s biggest companies and banks as customers.

Calls to Akamai, which is headquartered in Cambridge, Massachusetts, but has global services, went unanswered.

The disruptions came just days after many of the world’s top websites went offline briefly due to a problem with software at Fastly, another major web services company. The company blamed the problem on a software bug that was triggered when a customer changed a setting.

Brief internet service outages are not uncommon and are only rarely the result of hacking or other mischief. But the outages have underscored how vital a small number of behind-the-scenes companies have become to running the internet.


Saudi and Russian business officials propose Russian bank in Riyadh

Saudi and Russian business officials propose Russian bank in Riyadh
Updated 18 June 2021

Saudi and Russian business officials propose Russian bank in Riyadh

Saudi and Russian business officials propose Russian bank in Riyadh
  • Russian ambassador to the Kingdom says new commercial attache at the embassy will help Saudi businesses

RIYADH: A proposal to open a Russian bank in Riyadh was presented at a meeting between Saudi and Russian officials on Thursday.
The move would facilitate trade and economic exchange between the two countries, a meeting of the Saudi-Russian Business Council of the Council of Saudi Chambers (CSC) was told.
Russia’s Ambassador to the Kingdom, Sergei Kozlov, said he promised to support and study the proposal to open the bank in Riyadh.
He said a commercial attaché had been appointed at the embassy in Riyadh to help Saudi business owners overcome obstacles.
Ajlan bin Abdulaziz Al-Ajlan, president of the CSC, said the meeting provided strong impetus toward developing more trade and economic relations.
Chairman of the Saudi-Russian Business Council Tariq Al-Kahtani said it was important to strengthen economic and trade cooperation.
The meeting also dealt with some challenges that contributed to the weak volume of trade exchange between the Kingdom and Russia, including the lack of a direct shipping line to facilitate import and export operations.


International companies to invest in Egyptian green hydrogen projects, says minister

International companies to invest in Egyptian green hydrogen projects, says minister
Updated 17 June 2021

International companies to invest in Egyptian green hydrogen projects, says minister

International companies to invest in Egyptian green hydrogen projects, says minister
  • Egypt has signed MOU for 1GW green hydrogen project
  • Other EU companies set to partner with Egypt's private sector

RIYADH: International companies are interested in investing in green hydrogen production in Egypt, according to Minister of Electricity and Renewable Energy Mohamed Shaker.

“There are companies from the European Union that will enter into partnerships with the Egyptian private sector,” he said.

The Egyptian government has signed an MoU with Siemens for the first project to produce green hydrogen with a capacity of 1 megawatt, doubling to 2 megawatts over five years, he said.

“Green hydrogen will be the world’s fuel in the next few years, and I see that Egypt started early in this field,” he added.

Work is currently underway to develop and formulate a strategy for the hydrogen industry in Egypt through a ministerial committee in which the Ministry of Petroleum and Mineral Resources participates as a main member, according to previous statements by the Minister of Petroleum and Mineral Resources Tarek El Molla.

Egypt is planning to invest up to $4 billion in a project to generate green hydrogen gas through water electrolysis, Shaker said this week.

The project is currently in the feasibility studies stage, in consultation with the Sovereign Fund of Egypt and a group of concerned ministries, and will be presented next week, he said.

The United States is planning to increase funding to Egypt to help it convert to solar energy and move away from fossil fuels, US special envoy for climate John Kerry said in Cairo on Wednesday.

Egypt is planning to double the state’s funding for green projects to 30 percent of its overall investment plan during the fiscal year 2021/2022 and to raise it to 50 percent by 2024/2025.


Aramco completes issuance of international trust certificates for $6bn sukuk

Aramco completes issuance of international trust certificates for $6bn sukuk
Updated 17 June 2021

Aramco completes issuance of international trust certificates for $6bn sukuk

Aramco completes issuance of international trust certificates for $6bn sukuk
  • Launched on June 9, sale was Aramco’s first dollar-denominated sukuk.

RIYADH: Saudi Aramco said it completed issuing trust certificates for $6 billion of sukuk.
Aramco issued 30,000 sukuk with a par value of $200,000 each, it said in a filing to the Tadawul stock exchange.
“The outcome demonstrates further evidence of Aramco’s unique value proposition, which is underwritten by its operational and financial resilience,” said Aramco CEO and President Amin Nasser.
The securities were issued in three tranches, with the three-year notes paying 0.946 percent, 5-year notes at 2.602 percent and 10-year bonds 2.694 percent.
The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk.
Aramco’s debut $12 billion bond deal in 2019 was followed by an $8 billion, five-part transaction in November last year, both used to fund its dividend.
The sale attracted orders exceeding $60 billion and added 100 new investors across the globe, Aramco said.