Russia stands ready to support African nations in developing technologies for self-sufficiency, ensuring technological sovereignty and managing continental data systems. “Africa is resource-rich. Yet today, data has become the most valuable resource. Russia isn’t proposing to exploit this data, but rather to develop technologies enabling Africa to manage it independently. The digital industry’s future is […]
Investment manager Liontrust has named Phil Rosenberg as head of Middle East and Asia to drive growth across key international markets. Rosenberg brings over 35 years of experience in distribution, including a 14-year tenure as managing director and head of distribution for the Middle East at GAM Investments. According to the investment manager, his appointment […]
Four Chinese state-owned banks announced plans on Sunday to introduce the Ministry of Finance (MOF) as a strategic investor through targeted share placements, with their boards having approved proposals to issue A-shares to designated investors. The initiative includes the Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BOCOM), and Postal Savings Bank […]
Switzerland-based hotel firm Aman Group is looking to secure $2 billion in fresh capital to fund its global expansion efforts. The luxury hospitality brand, into which Gulf wealth funds and other investors ploughed approximately $1.3 billion over the last three years, intends to use the money to deliver more hotels across the Middle East and […]
One of Switzerland’s main political parties could soon propose capping UBS’s investment banking activities as part of a regulatory overhaul aimed at making the sector less risky, a senior lawmaker said on Wednesday. The right-wing Swiss People’s Party (SVP), the biggest group in parliament, would pitch the plan as soon as possible if the government […]
Hong Kong is channelling funds into several dozen innovative companies to further bolster the city’s appeal as a hub for technology, banking and finance compared with regional competitors like Singapore, according to Financial Secretary Paul Chan Mo-po. The Hong Kong Investment Corp (HKIC), funded by the city’s reserves, has invested in nearly 100 start-ups involved […]
The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. For that, however, the industry needs the “right business conditions”. Offshore Energies UK said that local energy production was estimated at some 2 billion to 3 […]
Cassava Technologies, founded by Zimbabwean telecoms mogul Strive Masiyiwa, has partnered with Nvidia Corp. to establish Africa’s first artificial intelligence (AI) factory. According to a statement on Cassava’s website, the company will integrate Nvidia’s cutting-edge computing and AI software into its data centres in South Africa by June 2025, with further expansion planned for Egypt, […]
Shell said on Friday it has taken the final investment decision for Gato do Mato, a deepwater project offshore Brazil with a capacity of 120,000 barrels of oil per day, where first oil is expected to flow in 2029. Shell, the operator of the project, owns a 50% stake in Gato do Mato, while Ecopetrol […]
Johnson & Johnson has laid out plans to raise U.S. investments by 25% to more than $55 billion over the next four years, as a threat of drug import duties by the Trump administration compels companies to expand their manufacturing operations domestically. The pharmaceutical giant JNJ.N said on Friday it planned to build four new […]
