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 […]
Iran plans to expand its shipping routes to West and Southwest Africa following a decision by the African Affairs Task Force, chaired by the first vice president, a senior trade official said. According to the Trade Promotion Organization of Iran (TPO), Mohammadreza Safari, acting director general for Africa at the organization, said on Sunday that […]
China has sent a senior-level delegation to Panama at a time when relations have been clouded by developments surrounding the Panama Canal, a move seen by observers as an attempt to “understand what is unfolding” and possibly reverse the situation. According to Chinese state news agency Xinhua, a delegation led by Ma Hui, a vice-minister of the Communist […]
Renaissance Africa Energy Holdings has announced the successful completion of its landmark acquisition of Shell Petroleum Development Company of Nigeria (SPDC) for $2.4 billion. The transaction, finalised after securing all necessary regulatory approvals, marks a significant milestone in Nigeria’s energy sector. SPDC will now be rebranded as Renaissance Africa Energy Company Limited. The acquisitions also […]
China held US$3.227 trillion of foreign exchange reserves at the end of February, the largest of its kind in the world. Managing this vast wealth are four offshore investment offices known as Hua’an, Huaxin, Hua’ou and Huamei within the State Administration of Foreign Exchange (SAFE). The “four golden flowers”, as they are known in Chinese, […]
Fundraising on Hong Kong’s stock market could increase by as much as 80 per cent this year amid optimism in the tech sector and backing from mainland authorities for Chinese companies to list in the city, according to Financial Secretary Paul Chan Mo-po. The initial public offering (IPO) market could reach between US$17 billion and […]
Sweden’s struggling electric car battery maker Northvolt said Wednesday it had filed for bankruptcy in Sweden after failing to secure financing to enable it to continue operations. Northvolt said in a statement that despite pursuing “all available options” and getting “liquidity support from our lenders and key counterparties, the company was unable to secure the […]
