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DIFC Celebrates 20 Years with Record-Breaking Growth in 2024

The Dubai International Financial Centre has reported unprecedented financial performance for 2024, coinciding with its 20th anniversary. The centre’s total revenue reached AED 1.78 billion , a 37% increase from the previous year, while operating profit surged by 55% to AED 1.33 billion . These figures represent the most significant annual growth since DIFC’s establishment. The number of active companies within DIFC expanded by 25%, totaling 6,920 […]

Madhya Pradesh Government Holding Global Summit For Investing In The State

By L S Herdenia BHOPAL: Bhopal is decorating itself to accord warn welcome to over 100 big industrial magnets who will be in the capital city to attend Madhya Pradesh government sponsored Industrial Summit. The Summit will be inaugurated by the Prime Minister Narendra Modi on February 24. Nearly a hundred distinguished industrialists and chiefs […]

AM Green, DP World to position India as a green molecule exports leader

AM Green, a prominent producer of green hydrogen and ammonia, has entered into a strategic partnership with DP World, a global logistics leader, to establish a sustainable supply chain for green fuels and chemicals. This collaboration aims to position India as a central hub for the export of green ammonia and methanol, significantly contributing to global decarbonization efforts. Under the Memorandum of Understanding (MoU) signed in December, the […]

Mubadala Expands Reach with Stake in Apleona

Mubadala Investment Company has secured a deal to acquire a minority stake in Apleona, one of Europe’s top integrated facility management providers. This move forms part of a broader investment effort led by Bain Capital’s Private Equity team in Europe, which aims to bolster Apleona’s growth trajectory, further establishing it as a dominant player in the European facility management sector. Headquartered in Neu-Isenburg, Germany, Apleona delivers a […]

Apple Storage Celebrates 20th Anniversary Five New Branches Opened in the First Quarter Offering Rent-Free Periods to All Customers

HONG KONG SAR – Media OutReach Newswire – 17 February 2025 – To celebrate the 20th anniversary of Apple Storage, Apple Storage Group (the group) is not only preparing for large-scale celebration activities this year, but also vigorously expanding its branch network at the beginning of 2025. In the first quarter, five new branches will be opened, and for the first time that the group has entered […]

SK Telecom Joins MIT’s Generative AI Consortium

SK Telecom has become a founding member of the MIT GenAI Impact Consortium, collaborating with Massachusetts Institute of Technology faculty and global industry leaders to explore the commercialization and societal implications of generative artificial intelligence technologies. The consortium, a strategic initiative led by MIT President Sally Kornbluth, aims to provide practical direction to the AI industry by examining the transformative potential of generative AI across various sectors. […]

Government Stake Dilution In PSE Should Aim At Their Faster Growth

By Nantoo Banerjee The government disinvestment in India’s state-controlled enterprises is always welcome if it is aimed to make them professionally managed entities for faster growth. Unfortunately, the haphazard disinvestments in public sector enterprises (PSE) by the government seem to have only a single purpose — financing part of the annual union budget deficit. The […]

Abu Dhabi Commercial Bank – Egypt Focuses on Sustainability and Green Finance

Abu Dhabi Commercial Bank Egypt is strategically aligning its operations with sustainability and green finance initiatives, reflecting the growing emphasis on environmentally responsible banking practices within the financial sector. The CEO of ADCB Egypt highlighted that the bank is committed to advancing sustainability as a key part of its broader corporate strategy, which mirrors the UAE-based parent group’s efforts to support eco-friendly projects and initiatives. Under the […]

Donald Trump’s ‘America First’ Has Modi’s India A Distant Second By Far

By K Raveendran The Indo-US joint declaration presents a striking imbalance, appearing more as a dictated statement than a mutually crafted agreement. The document is overwhelmingly skewed in favour of the United States, particularly in the domain of defence procurement, where it reads less like a diplomatic understanding and more like a sales pitch for […]

HEIDELBERG sees clear increase in profitability in third quarter of financial year 2024/2025

Q3 sales at previous year’s level and adjusted EBITDA margin improves significantly to 9.2 percent Incoming orders up 8.3 percent for Q3 and 7.7 percent after nine months compared with previous year High order backlog points to strong final quarter Full-year forecast confirmed, adjusted EBITDA margin to rise to up to around 8 percent in FY 2025/2026 Packaging remains a growth driver Growth strategy promises sales potential […]

Donald Trump Walked Away With All He Wanted At Bilateral Meet With Narendra Modi

By T N Ashok WASHINGTON: Indian Prime Minister Narendra Modi’s visit the United States is more significant than ever at a time when the geo-political situation is fast changing, and new leaders take over in many countries. Modi’s scheduled meeting with US President Donald Trump on Thursday in White House offered positive results for the […]

RSS Chief Mohan Bhagwat Having Continuous Meetings In Kolkata To Energize Bengal BJP

By Arun Srivastava How far the RSS chief Mohan Bhagwat would succeed in his mission to rejuvenate the saffron ecosystem and rejuvenate the cadres in West Bengal, who have been feeling disconsolate and crestfallen due to the intense factional feud in the state BJP, is not yet clear, but one thing is certain that they […]

Volar Air Mobility to Establish Electric Aircraft Production in Abu Dhabi

Hong Kong-based Volar Air Mobility has announced plans to manufacture electric aircraft in Abu Dhabi, aligning with the United Arab Emirates’ commitment to sustainable transportation. The company aims to produce the RX4E, a four-seater electric aircraft designed for various applications, including eco-tourism, pilot training, medical evacuations, border control, and surveillance. The RX4E has achieved a significant milestone by becoming the world’s first electric aircraft certified under Part 23 regulations for commercial use. citeturn0search3

Volar Air Mobility has been actively collaborating with UAE authorities to advance green aviation initiatives. In September 2024, the company signed a Memorandum of Understanding with the UAE’s General Civil Aviation Authority to establish a Green Aviation technological development hub in the country. Additionally, Volar partnered with Etihad Aviation Training to explore the development of a sustainability cluster focused on research and development in green aviation within the UAE. citeturn0search0

The UAE has been investing in sustainable transportation modes, including electric vehicles, buses, and the Dubai Metro system, significantly reducing the number of cars on the road. citeturn0search2 The UAE’s Net Zero 2050 Strategy aims to stimulate economic and societal advancement by leading the transition to net zero emissions. citeturn0search16

Volar’s decision to establish production facilities in Abu Dhabi aligns with the UAE’s strategic vision for sustainable development. The RX4E’s applications in eco-tourism and pilot training are expected to contribute to the nation’s environmental goals. The aircraft’s capabilities in medical evacuations, border control, and surveillance also offer potential enhancements to public services.

India’s $5-Trillion-Economy Dream By 2025 Has Gone Awry

By Nantoo Banerjee With Indian Rupee (INR) dwindling almost daily against US Dollar (USD), it is good the Union Budget for 2025-26 has stopped repeating on making the Indian economy a $5-trillion GDP to become the world’s third largest by the end of this year or anytime too soon. The budget also provides no indication […]

Ittihad International Secures $450 Million Sustainability-Linked Credit Facility

Abu Dhabi-based Ittihad International Investment LLC has secured a $450 million sustainability-linked revolving credit facility with a consortium of local banks. The facility was arranged by Emirates NBD, Commercial Bank of Dubai, and First Abu Dhabi Bank, serving as mandated lead arrangers and bookrunners, as well as sustainability joint coordinators. Additionally, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Emirates Islamic acted as joint arrangers. The […]

Europe’s OpenEuroLLM Initiative Aims for AI Autonomy

Europe has unveiled OpenEuroLLM, a collaborative project designed to develop open-source large language models encompassing all official and prospective EU languages. This initiative seeks to bolster the continent’s digital sovereignty and competitiveness in artificial intelligence. The consortium comprises over 20 European research institutions, technology firms, and high-performance computing centers. Notable participants include Germany’s Aleph Alpha, Finland’s CSC, and France’s Lights On. The project is coordinated by Jan […]

China’s ‘Black Panther 2.0’ Sets New Speed Record for Quadrupedal Robots

Chinese researchers have unveiled ‘Black Panther 2.0’, a quadrupedal robot capable of sprinting at 10 meters per second, matching the pace of elite human sprinters. Developed by Zhejiang University’s Institute of Humanoid Robotics in collaboration with Hangzhou-based startup Mirror Me, this 38-kilogram robot stands at 0.63 meters tall and was officially introduced on January 13 in Hangzhou’s Xiaoshan District. The development of ‘Black Panther 2.0’ began in […]

Artyzen Hospitality Group Expands to Xi’an with New Luxury Lifestyle Hotel

SHANGHAI, CHINA – Media OutReach Newswire – 10 February 2025 – Artyzen Hospitality Group (AHG), a wholly owned subsidiary of Shun Tak Holdings Limited (HKSE: 242) today announced a management agreement with Xi’an Yang’s Real Estate Development Co., Ltd. (Xi’an Yang’s Real Estate) to open its first Artyzen Hotels and Resorts luxury lifestyle hotel in Xi’an, China. This marks AHG’s debut in China’s ancient capital and the […]

HP to Establish PC Manufacturing Facility in Saudi Arabia

HP Inc. has announced plans to establish a state-of-the-art manufacturing facility in Riyadh, Saudi Arabia, marking a significant expansion of its global operations. The facility is scheduled to commence production of personal computers , printers, and other computing devices within the year. This move aligns with Saudi Arabia’s Vision 2030 initiative, which aims to diversify the nation’s economy and bolster its technological capabilities. Enrique Lores, President and […]

NIA Unveils 2025 Startup Trends: AI, Green Tech, and FinTech Set to Soar as Thailand Drives Global Growth Ambitions

BANGKOK, THAILAND – Media OutReach Newswire – 6 February 2025 – The Ministry of Higher Education, Science, Research, and Innovation (MHESI), through the National Innovation Agency (Public Organisation) or NIA, has revealed an overview of Thailand’s startup growth for 2024. The data shows a consistent upward trajectory, with a cumulative growth rate of 3.3% since 2021, reinforcing Thailand’s position as one of the world’s most startup-friendly hubs. […]

Africa Finance Corporation (AFC) Raises US$400 million in Shariah-compliant Commodity Murabaha facility to fund African Infrastructure

AFC has consistently broadened its funding portfolio with innovative transactions that open new capital markets to attract global investors to African infrastructure DUBAI, UNITED ARAB EMIRATES – EQS Newswire – 7 February 2025 – Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has successfully closed a US$400 million Shariah-compliant Commodity Murabaha facility, marking its strategic return to the Islamic finance market for the first […]

Singapore’s Tolaram Welcomes IFC Investment in Lagos Free Zone to Boost Industrial Growth and Economic Diversification in Nigeria

LAGOS, NIGERIA – Media OutReach Newswire – 8 February 2025 – Tolaram, the Singapore-headquartered owners and operators of Lagos Free Zone are proud to announce that the International Finance Corporation (IFC) has committed an equity investment of up to $50 million to support the development of Lagos Free Zone. The investment, aimed at closing key infrastructure gaps to enhance Nigeria’s global competitiveness, will help accelerate the first […]

Bain Capital Nears Acquisition of Mitsubishi’s Pharma Division in $3.2 Billion Deal

Bain Capital is in the final stages of negotiations to acquire Mitsubishi Chemical Group’s pharmaceutical subsidiary, Mitsubishi Tanabe Pharma, for over 500 billion yen . This move aligns with Mitsubishi Chemical’s strategy to streamline its operations and concentrate on core sectors such as vehicle electrification, semiconductor manufacturing, and food production.

Established over 90 years ago in Osaka, Mitsubishi Tanabe Pharma specializes in developing treatments for central nervous system disorders, immuno-inflammation, and oncology. The company has a global presence, with operations spanning multiple continents. Notably, its drug Radicava, used in the treatment of amyotrophic lateral sclerosis , has been a significant contributor to its revenue growth.

In the first half of the fiscal year ending March 2025, Mitsubishi Chemical’s pharmaceutical segment reported a 6% increase in sales revenue, reaching 232.5 billion yen, and a 28% rise in core operating income to 41.4 billion yen. Despite these positive figures, Mitsubishi Chemical has been reassessing its business portfolio to focus on areas with higher growth potential. The potential divestiture of its pharmaceutical unit is part of this broader strategy.

Bain Capital has been granted preferential negotiation rights, indicating its position as the leading candidate to finalize the acquisition. This development follows earlier reports that both Bain Capital and Blackstone were among the final bidders for Mitsubishi Tanabe Pharma, with valuations estimated between $3 billion and $3.5 billion. Local private equity firm Japan Industrial Partners was also reported to be in the bidding process.

This prospective acquisition is part of a broader trend of increased mergers and acquisitions activity in Japan. Bain Capital has been particularly active in the Japanese market, having previously led the acquisition of Kioxia Holdings, a prominent chipmaker. The firm’s interest in Mitsubishi Tanabe Pharma underscores its strategy to invest in sectors with strong growth prospects and innovative capabilities.

Mitsubishi Chemical has not provided specific comments on the ongoing negotiations but has stated that it is continuously reviewing its business portfolio, considering all options, including potential divestitures, to optimize its operations and focus on strategic areas. The company aims to better align its resources and capabilities to meet evolving market demands and technological advancements.

Successful Completion: The Yunlin Offshore Wind Farm Project in Taiwan is now fully operational

• Yunlin OWF fully operational and running at design capacity of 640 MW • Enough clean energy to power over 600,000 Taiwanese homes annually • Major step for Taiwan’s offshore wind farm and renewable energy sectors HAMBURG, GERMANY – EQS Newswire – 3 February 2025 – Skyborn Renewables (Skyborn) and its partners in Yunneng Wind Power Co., Ltd. (Yunneng) are pleased to announce a major milestone: The […]