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Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

UAE, Russia sign MoU on hydrogen technology

Ministry of Industry and Advanced Technology signs MoU on hydrogen technology with Russian Ministry of Industry and Trade on hydrogen technology.
  • The collaboration will explore ways of supporting the production, storage and transportation of hydrogen fuel
  • The UAE’s hydrogen production is now around 300,000 tons annually as a result of ADNOC’s downstream facilities.

The UAE Ministry of Industry and Advanced Technology (MoIAT) on Wednesday signed a memorandum of understanding (MoU) with the Ministry of Industry and Trade of the Russian Federation to bolster industrial collaboration in hydrogen fuel technology. 

The collaboration will explore ways of supporting the production, storage and transportation of hydrogen fuel.

The MoU was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Denis Manturov, Russian Minister of Industry and Trade, on the sidelines of the 37th edition of the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2021).

“The MoU aligns with the strategic vision of our leadership – to build new and reinforce existing international collaborations in support of sustainable development,” Dr. Sultan Al Jaber said.. “Working with the Ministry of Industry and Trade in Russia on hydrogen fuel complements our nations’ longstanding relationship and reflects new directives to find clean and sustainable energy sources, especially as the global economy begins to recover from the repercussions of COVID-19.”

“Mutual striving to strengthen trade and economic relations makes it possible to develop joint industrial projects, including in hydrogen energy,” Denis Manturov said . A significant potential for cooperation between Russia and the UAE can be revealed in multi-vector cooperation in the design and production of equipment for liquefaction, storage and transportation of hydrogen, as well as in the development of international and harmonisation of national standards in this area. This approach is also reflected in the Memorandum.” 

The UAE’s  hydrogen production is now approximately 300,000 tons annually as a result of ADNOC’s downstream facilities. Furthermore, Mubadala, ADNOC, and ADQ have established the Abu Dhabi Hydrogen Alliance to develop a roadmap to accelerate the UAE’s adoption and use of hydrogen in major sectors.