Concession (contract) in the context of "Suez Canal Company"

A moneyer is a private individual who is officially permitted to mint money. Usually the rights to coin money are bestowed as a concession by a state or government. Moneyers have a long tradition, dating back at least to ancient Greece. They became most prominent in the Roman Republic, and continued into the Empire. In Rome the position of Triumvir Monetalis, held by three people at a time, was a minor magistracy awarded by the Senate, often the first office held by young politicians, including Marcus Aurelius.

Moneyers were not limited to the ancient world. During the Middle Ages, European moneyers created currency on behalf of kings and potentates. For a large part of that era, virtually all coins in circulation were silver pennies, and these often bore the name or other identification of the moneyer. In 17th century North America, John Hull acted as a moneyer for the Massachusetts Bay Colony.

Attempts to build a canal across Nicaragua to connect the Atlantic Ocean and the Pacific Ocean stretch back to the early colonial era. Construction of such a shipping route—using the San Juan River as an access route to Lake Nicaragua—was first proposed then. Napoleon III wrote an article about its feasibility in the middle of the 19th century. The United States abandoned plans to construct a waterway in Nicaragua in the early 20th century after it purchased the French interests in the Panama Canal, which has served as the main connecting route across Central America since its completion.

Because the steady increase in global shipping may eventually make the project economically feasible, speculation on a new shipping route has continued. In June 2013, Nicaragua's National Assembly approved a bill to grant a 50-year concession to the HK Nicaragua Canal Development Investment (HKND) to manage the Nicaraguan Canal and Development Project to build the canal, but little development took place, and the concession to HKND was cancelled in May 2024.

In international relations, a concession is a "synallagmatic act by which a State transfers the exercise of rights or functions proper to itself to a foreign private test which, in turn, participates in the performance of public functions and thus gains a privileged position vis-a-vis other private law subjects within the jurisdiction of the State concerned." International concessions are not defined in international law and do not generally fall under it. Rather, they are governed by the municipal law of the conceding state. There may, however, be a law of succession for such concessions, whereby the concession is continued even when the conceding state ceases to exist.

In international law, a lease is "an arrangement whereby territory is leased or pledged by the owner-State to another State. In such cases, sovereignty is, for the term of the lease, transferred to the lessee State." The term "international lease" is sometimes also used to describe any leasing of property by one state to another or to a foreign national, but the normal leasing of property, as in diplomatic premises, is governed by municipal, not international, law. Sometimes the term "quasi-international lease" is used for leases between states when less than full sovereignty over a territory is involved. A true international lease, or "political" lease, involves the transfer of sovereignty for a specified period of time. Although they may have the same character as cessions, the terminability of such leases is now fully accepted.

The oil and gas industry operates in countries throughout the world in accordance with a number of different types of agreements. These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts.

From 1885 to 1908, many atrocities were committed in the Congo Free State (today the Democratic Republic of the Congo) under the absolute rule of King Leopold II of Belgium. These atrocities were particularly associated with the labour policies, enforced by colonial administrators, used to collect natural rubber for export. Combined with epidemic disease, famine, mass population displacement and, falling birth rates caused by these disruptions, the atrocities contributed to a sharp decline in the Congolese population. The magnitude of the population decline over the period is disputed, with modern estimates ranging from 1.2 million to 10 million.

At the Berlin Conference of 1884–1885, the European powers recognized the claims of a supposedly philanthropic organisation run by Leopold II, to most of the Congo Basin region. Leopold had long-held ambitions for colonial expansion. The territory under Leopold's control exceeded 2,600,000 km (1,000,000 sq mi), more than 85 times the territory of Belgium; amid financial problems, it was directed by a tiny cadre of administrators drawn from across Europe. Initially the quasi-colony proved unprofitable and insufficient, with the state always close to bankruptcy. The boom in demand for natural rubber, which was abundant in the territory, created a radical shift in the 1890s—to facilitate the extraction and export of rubber, all vacant land in the Congo was nationalised, with the majority distributed to private companies as concessions. Some was kept by the state. Between 1891 and 1906, the companies were allowed free rein to exploit the concessions, with the result being that forced labour and violent coercion were used to collect the rubber cheaply and maximise profit. The Free State's military force, the Force Publique, enforced the labour policies. Individual workers who refused to participate in rubber collection could be killed and entire villages razed.

The Suez Company or Suez Canal Company, full initial name Compagnie universelle du canal maritime de Suez (Universal Company of the Maritime Canal of Suez), sometimes colloquially referred to in French as Le Suez ("The Suez"), was a company formed by Ferdinand de Lesseps in 1858 to operate the Egyptian granted concession of the Suez Canal, which the company built between 1859 and 1869. Initially, French investors held half of the Company's stock, with Egypt's ruler Sa'id Pasha holding most of the balance. In 1875, financial distress forced Sa'id's successor Isma'il Pasha to sell the country's shares to the government of the United Kingdom. The Suez Company operated the canal until Egypt's new president Gamal Abdel Nasser revoked its concession in 1956 and transferred canal operation to the state-owned Suez Canal Authority, precipitating the Suez Crisis.

Following the loss of the canal concession, the Suez Company received financial compensation from the Egyptian government, the final payment of which was made in 1962, and used this resource to reinvent itself as a major investment and holding company in France. In 1958 it renamed itself the Compagnie financière de Suez ("Suez Financial Company"), and in 1967 changed its name again to Compagnie financière de Suez et de l'Union parisienne, a change that was reversed in 1972. It was nationalized in 1982, then privatized in 1987. It acquired control of the Société Générale de Belgique in 1988, and changed name again to Compagnie de Suez in 1990. In 1997, it merged with water utility and construction conglomerate Lyonnaise des eaux (fr) to form Suez-Lyonnaise des eaux. The merged entity renamed itself as Suez in 2001 and underwent several subsequent mergers, spin-offs, and restructurings that led to the creation of the energy company Engie and the water and waste-management utility also named Suez.