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Danish engineering group Topsoe plans to spend USD 300 mn on a hydrogen electrolyzer facility in the US, CEO Roeland Baan tells Bloomberg. Topsoe plans to make a final investment decision on the project — set to double the company’s manufacturing capacity of the machines — by the end of the year. The firm is […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Killer whales have been spotted off the coast of the UAE
A killer whale visit in the region: A pair of killer whales spotted off the UAE coast last week are repeat visitors, The National reports. The two orcas were spotted off the coast of Abu Dhabi last Tuesday before heading to Jebel Ali and on to Umm Al Quwain, where scientists lost track of them. […]
Posted inCALENDAR
MAY 2023 16-18 May (Tuesday-Thursday): Seatrade Maritime Logistics Middle East, Dubai, UAE. 19-21 May (Friday-Sunday): G7 Hiroshima Summit, Hiroshima, Japan. 22-24 May (Monday-Wednesday): IEEE Power and Energy Forum, Muscat, Oman. 25-27 May (Thursday-Saturday): Second meeting of the COP27 Transitional Committee, Bonn, Germany. 29-31 May (Monday-Wednesday): Electric Vehicle Innovation Summit, Abu Dhabi, UAE. 29-31 May (Monday-Wednesday): […]
Posted inWHAT WE’RE TRACKING TODAY
TODAY: Ma’aden moves forward with buying stakes in US minerals firm Ivanhoe Electric
Good morning, wonderful people. It’s a quiet morning on the regional climate news front, with a couple of stories to dig into. THE BIG CLIMATE STORY- Saudi Arabia’s state-owned mining company Ma’aden has moved forward with its 9.9% acquisition of US mineral development company Ivanhoe Electric Inc. by signing a conditional common shares subscription agreement […]
Posted inUncategorized
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Posted inM&A WATCH
Ma’aden moves forward with buying stakes in US minerals firm Ivanhoe Electric
Ma’aden inks agreement terms with Ivanhoe: Saudi Arabian state-owned mining company Ma’aden has signed a conditional common shares subscription agreement with US mineral development company Ivanhoe Electric Inc. (IE) to acquire a 9.9% share of the company, according to a Tadawul filing. Completion of the agreement will also see Ma’aden establish a JV with IE […]
Posted inDEBT WATCH
Egypt’s Al Baraka Bank secures USD 30 mn loan from ICD to finance green projects
Fresh financing for Al Baraka Bank from the ICD: Egypt’s Al Baraka Bank is set to receive a USD 30 mn loan from the Islamic Corporation for the Development of the Private Sector (ICD), according to a statement. The funding accounts for a first tranche of a five-year sharia-compliant finance from the ICD, which is […]
Posted inUncategorized
Posted inEARNINGS WATCH
Taqa Group’s 1Q 2023 net income jumps on back of 5% acquisition in Adnoc Gas
One-off transactions boost Taqa Group’s 1Q net income: The UAE’s Taqa Group (Taqa) reported a 480% y-o-y rise in net income in 1Q 2023 to AED 11.6 bn, driven by a one-off gain from acquiring a 5% stake in Adnoc Gas, its earnings release (pdf) showed. Revenues were up by 6% y-o-y during the first […]
Posted inMOVES
Schneider Electric appoints Hady Stephan as new VP of Power Systems for Gulf cluster
Hady Stephan (LinkedIn) has been appointed as Schneider Electric’s VP of Power Systems for the Gulf region, according to a statement. Stephan has been with the French electrical group for over a decade, formerly serving as VP for Energies and Chemicals for the Middle East and leading the Levant cluster to help expand the company’s […]