The Suez Canal blockage has caused huge jam of vessels, holding up goods worth $400 million an hour approximately. Ever Given, the 400 meter long and weighing around 200,000 ton, deemed to be a Megaship which is operated by Taiwan based firm Evergreen has been stuck in the Southern end of the canal. The canal […]
The Chinese multinational electronics company, Xiaomi plans to build Electric Vehicle’s (EV) using Great Wall Motor’s factory. One of the greatest smartphone makers in the world, Xiaomi is in talks with Great Wall’s plants in China to make Electric Vehicle’s making it the latestr tech firm to join the smart mobility race. The company will […]
Abu Dhabi based asset management company, Gulf Capital has announced that it has acquired two of US health – tech companies for transaction value of $60 million. Gulf Capital’s investments in Hansei Solutions and Eclat Health will expand the firms Healthcare- focused Revenue cycle Management (RCM) platform. The investment company has already acquired a majority […]
Emirati state-owned holding company, Mubadala investment company and the UK office for investment (OFI) to invest around £1 Billion in UK life sciences. Abu Dhabi’s Mubadala will invest around £800 million and the UK will invest £200 million, part of the UAE – UK Sovereign Investment Partnership (SIP). In over five years SIP will invest […]
The Japanese multinational automotive manufacturer Toyota, is partnering with Hino ( Toyota subsidiary) and Isuzu Motors Limited to develop small sized electric and fuel-cell vehicle Japan’s top automaker Toyota and truck-maker Isuzu had mentioned that it will hold a 4.6 percent stake in each other, the three companies said in a joint statement. The three […]
The President of United States (U.S.), Joe Biden is planning for a new economic package of $3 trillion to boost the economy, infrastructure and domestic needs. This package also includes in narrowing down the economic inequality, reducing carbon emissions with giant infrastructure plan that may be financed in part through tax increases on corporations. After […]
The American based investment management company Blackstone has offered to buy Australia’s leading gambling and entertainment complexes Crown Resorts for $6.2 billion (A$8.02 billion). Crown Resorts is one of Australia’s largest entertainment groups and makes a major contribution to the Australian economy through its role in tourism, employment, training, and its corporate responsibility programs. Crown’s […]
The England based online food delivery company, Deliveroo is aiming for a valuation up to £8.8 billion ($12.2 billion) in its upcoming initial public offering (IPO) in London Deliveroo, which is backed by Amazon, has set a price range of between £3.90 and £4.60 per share for its initial public offering (IPO), implying an estimated […]
The Saudi Arabian public petroleum and natural gas company Saudi Aramco partners with East asian country China to increase its energy supply for the next 50 years as new and existing energy sources run in parallel for some time. One of the world’s biggest oil exporter, Saudi Arabia has retained its position as China’s top […]
China National Offshore Oil Corporation ( CNOOC ) and Petroliam Nasional Berhad ( PETRONAS ) has announced that both the company’s have signed Memorandum of Understanding (MoU) together to pursue Mutual growth through closer collaboration. PETRONAS in a statement said that signing Memorandum of Understanding (MoU) with CNOOC will elevates the long-standing relationship between the […]
The American technology conglomerate Facebook teams up with Rupert Murdoch ’s News Corp Australia after the county’s government passing the rule that requires tech companies to pay for news content. This deal will allow content from Rupert Murdoch’s local media empire and The Australian newspaper, to be featured on Facebook news. Anticipating the new law […]
The German automaker Volkswagen plans to build electric vehicle battery plants in Europe to expand its infrastructure and speed up mass adoption of battery-powered cars. Volkswagen said that it plans to build six battery cell factories by 2030 in Europe with production capacity of 240 gigawatt hours per hour. A spokesperson said that’s enough to […]
The European Medicines Agency (EMA) of the European Union has approved single shot Johnson & Johnson COVID-19 Vaccine, as it met the safety and quality criteria for people in the age group of 18 years and above in the European Union. Around 200 million doses of Johnson and Johnson vaccine has been ordered by European […]
The Malaysian oil company Petroliam Nasional Bhd ( Petronas ) and Abu Dhabi National Oil Company (ADNOC) has signed a key agreement together on jointly exploring opportunities in the low-carbon energy industry. This is a first such partnership between the two state owned oil producers. Abu Dhabi National Oil Company, in a statement said that […]
The flag carrier of Hong Kong, Cathay Pacific said that it had recorded an annual loss of $2.8 billion (HK$21.6 billion) previous year because of COVID-19 pandemic. The financial performance of the company sank even lower than predicted. In the second half of 2020, losses increased to HK$11.7billion from the previously announced HK$9.9 billion. It […]
