The Investment bank HSBC is committing $5 billion of lending to support strong companies in the United Arab Emirates ( UAE ) that need new capital to drive well-developed plans to grow their businesses globally. The initiative is a meaningful way for HSBC to recognise both its 75th year in the UAE and its support […]
The oil giant Aramco closes $12.4 billion deal with global investor consortium which includes EIG and Mubadala. In the purchase agreement the consortium has acquired a 49% stake in Aramco Oil Pipelines Company, a subsidiary of Aramco, for around $12.4 billion. The consortium consists of investors from Asia, North America and the Middle East. Aramco […]
The multinational electronics company Panasonic has sold off its entire Tesla stake last fiscal year Which has helped Panasonic earn billions of dollars in proceeds to fund new investments. Panasonic initially bought 1.4 million shares at $21.15 each around the time of Tesla’s June 2010 IPO. The company reported its stake was worth about $730 […]
The financial services corporation Visa has announced that it has signed a agreement to acquire Swedish Banking Platform Tink. Tink is a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data. Visa will pay […]
The Teleco companies Telenor , Axiata and Digi sign merger agreements of Celcom and Digi brand which will serve 19 million customers. Axiata and Telenor will be equal partners with 33.1 percent ownership stake each in MergeCo, and MergeCo will continue to be listed on Bursa Malaysia Securities Berhad (“Bursa”). Targeted to be among the […]
The Irish government has plans to sell part of its $807 million (€676 million) stake in Bank of Ireland Group Plc. over the next six months. The sale will occur through a pre-arranged trading plan that will be managed by Citigroup Global Markets. Citi group will be appointed to the role from the Department of […]
The global specialist HIV company ViiV Healthcare has entered a global collaboration and license agreement with Halozyme for ENHANZE. Halozyme’s drug delivery technology provides the opportunity to administer large volume subcutaneous injections that may enable dosing intervals of every three months and up to six months or longer for ViiV’s pipeline of HIV medicines. The […]
The Singaporean multinational bank DBS has begun trading on London Metal Exchange Which is one of the world’s leading platform for the trading of industrial metals. DBS has become the first bank in Asia to be issued a membership with LME outside of London. With this new membership, DBS’ corporate clients in Singapore, Indonesia, India, […]
The oil and gas company BP has agreed to join Statkraft and Aker to develop offshore wind energy in Norway. The partnership – in which bp, Statkraft and Aker Offshore Wind will each hold a 33.3% share – will pursue a bid to develop offshore wind power in the Sørlige Nordsjø II (SN2) licence area. […]
Abu Dhabi’s Mubadala Health acquires a major stake in UEmedical (United Eastern Medical services) from United Eastern Group (UEG) and Jadwa Investment. Through this acquisition, Mubadala Health adds the HealthPlus Network of Specialty Centers; Danat Al Emarat Hospital for Women & Children; HealthPlus Fertility, Moorfields Eye Hospital Abu Dhabi; the largest IVF provider in the […]
The health ministry of UAE has started Sinopharm covid vaccine trial for children below 18 Some members of Abu Dhabi’s ruling family had participated in the trial which administered China’s Sinopharm COVID-19 vaccine to children. The UAE in May approved the Pfizer-BioNTech vaccine for emergency use in children aged 12-15. Dubai, the second-largest member of […]
The South Korean GS Caltex makes its first carbon neutral crude oil purchase frrom Lundin Energy. GS Caltex has announced that it has purchased 2 million barrels of crude oil will be loaded in July to be delivered to Korea in September. GS Caltex can process up to 800,000 barrels of crude oil per day, […]
The Swedish multinational manufacturing company Volvo Cars and SSAB jointly test fossil free steel for the use in automotive industry. The chief executive at Volvo Cars, Håkan Samuelsson, said: “As we continuously reduce our total carbon footprint, we know that steel is a major area for further progress,”“The collaboration with SSAB on fossil-free steel development […]
The telecom giant Vodafone clubs with Samsung, Dell, NEC, Wind River, Capgemini Engineering and Keysight Technologies for open RAN (Open Radio Access Network) development in Europe. Vodafone believes that the move will spark other large-scale Open RAN launches and spearhead the next wave of digital transformation across Europe. With a huge support from European Commission […]
The airline and the flag carrier, Emirates Group, posts a $ 6.0 billion loss because of COVID-19, its first year of loss in over 30 years. The loss of AED 22.1 billion (US$ 6.0 billion) for the financial year ended in 31 March 2021 compared with an AED 1.7 billion (US$ 456 million) profit for […]
