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 […]
While West Texas Intermediate (WTI) oil prices have slipped nearly $3.50 a barrel since January—hovering uncomfortably around $68—New Mexico lawmakers just gave oil producers something else to stew over: higher royalty rates. Senate Bill 23, which passed the House of Representatives on Thursday, is now sitting on Governor Michelle Lujan Grisham’s desk. The bill raises […]
Having pulled out from the joint venture on oil and gas projects initially located at Olokola Free Trade Zone in Ogun Waterside some years back which necessitated the construction of the Dangote Refinery and other investments in Ibeju Lekki, Lagos State, Aliko Dangote, Africa’s foremost Industrialist and President of the Dangote Industries Limited, is now […]
The African Energy Chamber (AEC) has expressed its appreciation to the Trump administration following the Export-Import Bank of the United States (EXIM) reauthorising a $4.7 billion loan to support Mozambique’s Liquefied Natural Gas (LNG) project. This move signals renewed confidence in the country’s energy sector and strengthens U.S. participation in Africa’s natural gas industry. A Critical Boost for Mozambique’s LNG Sector The Mozambique LNG project, spearheaded by TotalEnergies, is […]
