AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.Company News Business
OpenAI partners with Le Monde and Prisa Media
Prisa Media chief executive Carlos Nunez called the OpenAI alliance a "step toward the future of news" where technology and...Business
GCC ramps up ESG efforts amid green investment push
Businesses are getting ready for COP28 by moving from starting ESG programs to growing them, and those who know the...Businesses are getting ready for COP28 by moving from starting their ESG programs to growing them, and those who know the benefits of ESG Reporting may gain a lot, say experts
Companies in the region have also been cautioned against viewing ESG as synonymous with Corporate Social Responsibility or merely as a "tick the box" obligation
Vodafone merges with Hutchison
The merger will lead to network investment of £11 billion over 10 years.Vodafone and CK Hutchison said in a joint statement that a new combined group is seen having a value of £16.5 billion ($21 billion).
"The merger is great for customers, great for the country and great for competition," said Vodafone chief executive Margherita Della Valle.
DEWA, SAP-SE keen to enhance digitalization of utility sector
Dubai, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) and Christian Klein,...They also explored the possibility of integrating SAP's advanced software solutions with DEWA's innovative initiatives.
The two discussed cooperation in innovation, digital transformation, the Internet of Things, Big data analysis and cloud computing.
Green activists cry foul as Shell decides to steady oil production
Campaign group Global Witness labelled Wednesday's announcement as a "climate-wrecking U-turn", urging it instead to invest far more in cleaner...The group said Wednesday that it had already cut average daily liquids production to 1.5 million barrels per day by the end of 2022 on divestments.
That marked a 21-percent reduction from 2019, or the equivalent of cutting output by two percent per year until 2030, according to the company.
UAE to see second biggest migration of millionaires in 2023: Report
Dubai, UAE -- The United Arab Emirates will see the second biggest migration of high-net-worth individuals (HNWIs) in 2023 with...Other countries in the top 10 include Singapore, the US, Switzerland, Canada, Greece, France, Portugal, and New Zealand.
The countries that are predicted to lose the most millionaires in 2023 include China (13,500), India (8,000), UK (3,200) and Russia (3,000).
Mubadala-Proprium joint venture formed
The joint venture will invest in Japanese multifamily property.The $600 million venture will focus on acquiring and managing high-quality, stabilized rental properties in Tokyo and Osaka.
The joint venture will also target sustainability initiatives, such as reducing the carbon footprint of its properties, Mubadala said in a statement.
GCC banking’s tech shift saves time, money
GCC banks started adopting online and mobile banking, and ATMs, in the 1990s and 2000s. More recently, they've integrated advanced...As of 2019, there were over 5,000 bank branches in the GCC region, catering to a population exceeding 50 million.
On average, customers spent about 30 minutes in these branches to avail themselves of banking services.
Drawn by green subsidies, solar cell giant expands US production
The partnership along with German group BayWa r.e. will beef up capacity in Meyer Burger's Arizona production facility from 1.6...The firm had written to German Finance Minister Christian Lindner to warn that it would invest in the US rather than expand its manufacturing in Germany because of IRA subsidies.
Meyer Burger currently has several plants in Germany, including in Thalheim and Freiberg. It had underlined plans to expand Goodyear and Thalheim's capacities.
UAE gold forecasted to grow by 3.6% annually through 2030
Dubai, UAE - The UAE's precious metals market, which includes gold, jewelry, gold bars, and silver, is expected to reach...The UAE leads the Middle East in gold consumption, with the country's jewelry sector playing a significant role in this achievement
In 2022, consumers in the country purchased a combined 46.9 tonnes of gold, representing a 38 percent increase from the previous year
US judge pauses Microsoft’s $69 billion buyout of Activision
Judge Edward Davila said in a ruling that it "is necessary to maintain the status quo" while the court considers...The ruling came a day after the FTC asked a federal court to prevent Microsoft from completing its blockbuster buy of Activision Blizzard as it considers regulatory action
An FTC hearing is set for August to argue the merits of the deal, and a restraining order would block the accord before that process has run its course
