Saudi Aramco, the state-owned oil company of the Kingdom of Saudi Arabia announced the expansion of its flagship localization program to boost domestic supply chains and to increase local content. It is a notable milestone in the company’s In-kingdom total value Add (iktva) program, through Industrial Investment Program (IIP) the company includes the expansion for […]
According to United Nations, COVID-19 pandemic is pushing the number of people in need of humanitarian assistance to unprecedented levels and in one year the ranks of extreme poverty has increased dramatically. In its Global Humanitarian overview 2021 the United Nations said one in 33 people will need aid to meet basic needs like water, […]
Lufthansa’s Boeing 777F aircraft has operated it’s first-ever 100% carbon neutral cargo flight, from Frankfurt Germany using only Sustainable Aviation Fuel (SAF). The air freight flight and logistics service provider transported goods from Siemens Healthineers AG. Sustainable Aviation Fuel refers to synthetic kerosene. It is mainly produced from biomass, such as sustainable or recyclable vegetable […]
The European Commission has fined the pharmaceutical companies Teva and Cephalon a total of €60.5 million for a ‘pay for delay’ agreement, for several years. The fines imposed by the European Commission on Teva and Cephalon are €30 million and €30.5 million respectively. According to EC the antitrust rules were violated by the agreement and […]
Diplomatic tensions rise between Australia and China due to anti – dumping measures imposed by China on Australian wine, Australia said it was “extremely disappointed” with china’s decision to impose preliminary tariffs. David Littleproud, Australia’s Agriculture Minister said “Today’s decision is a seriously concerning development and one which Australia will be vigorously fighting against,” “The […]
The director General of IAEA (International atomic energy agency) Rafael Mariano Grossi and the president of Finland Sauli Niinistö hold virtual meeting to discuss the use of Nuclear energy in support of climate change goals. One of the main topics discussed was about nuclear verification and possibilities for cooperation in nuclear safety projects in the […]
IBM has teamed up with Infocomm Media Development Authority ( IMDA ) to hire and train 300 Singaporean professionals over the next four years; Applicants will receive training to improve digital skills . This program involves training for roles such as cloud architects, data scientists, Big data engineers, UX Designers, Full-Stack Digital Developers and Digital […]
Deutsche Bahn, The German Railway Company and Siemens Mobility have announced plans to test hydrogen – powered fuel cell trains. This technology is expected to reduce CO2 emissions and eliminate diesel units. It was mentioned by the companies in a joint statement that testing phase will commence in 2024. To develop hydrogen powered prototype vehicle, […]
One of the world’s largest food retail groups, Ahold Delhaize to acquire New York City’s online grocer FreshDirect. The Dutch grocery company Ahold Delhaize will acquire the majority share in FreshDirect, while private equity firm Centerbridge partners will buy 20% stake FreshDirect will retain its brand name and will also continue to independently operate out […]
Panasonic has signed a preliminary agreement with Nordic energy company Equinor and the industrial group Norsk Hydro to explore the possibilities for building a “sustainable and cost-effective European battery business” for electric vehicles in Northern Europe. Over the coming months these three companies will work to evaluate the market for lithium-ion batteries in Europe. Mototsugu […]
Prime Minister of United Kingdom Boris Johnson to ban the sales of new petrol and diesel cars from 2030, in order to contribute to a greener planet. This decision comes under the part of 10-point plan for a “green industrial revolution.” With an aim to make the country carbon neutral by the year 2050, The […]
The capacity of the European Union’s offshore wind farm will be increased by 250% in the Baltic, the Atlantic, the North Sea, the black sea and the Mediterranean under a draft plan drawn up by the European commission. The European Union and the UK are trying to make progress on the target of carbon emission […]
France’s best known six Asset managers have joined hands to encourage large companies in France to have at least 30% of their executive management teams made up of women by 2025. La Banque Postale Asset Management, Amundi, Axa Investment Managers, Sycomore Asset Management, as well as Natixis Investment Managers’ affiliates Mirova and Ostrum Asset Management […]
ThyssenKrupp is in talks with the German government over a steel aid package for its struggling steel unit worth at least $5.9billion (5 billion Euros) to secure its survival. Angela Merkel, The chancellor of Germany has indicated a willingness to provide financial support to secure the unit, which is used in products from wind turbine […]
Skyscanner has joined hands with cover genius to launch COVID-19 travel insurance package. The product will be rolled out first in Europe and eventually be available in fifty countries worldwide. This product will be available to prospective travelers. The package includes a mixture of trip cancellation, medical and airline insolvency cover, including protection against travel […]
