Agriculture Brazil plans ‘fertilizer diplomacy’ trip to secure more imports Brazil’s new agriculture minister Marcos Montes will visit Jordan, Egypt and Morocco in a tour starting this week to discuss increasing fertilizer imports from those countries. “It’s a pilgrimage that we are calling fertilizer diplomacy,” Montes said in an interview with Reuters late on Monday, adding he would be joined by private sector representatives. “We […] May 3, 2022
Manufacturing $3bn IPO of Coca-Cola’s African bottler delayed Coca-Cola’s estimated $3 billion initial public offering (IPO) for its African bottling unit will likely take place in the third quarter after market turmoil linked to the war in Ukraine upset plans to list earlier, three sources have said. The flotation of Coca-Cola Beverages Africa (CCBA) would be the biggest on the Johannesburg Stock Exchange […] May 3, 2022
Agriculture Ukraine war push egg prices higher worldwide Severe outbreaks of bird flu in the United States and France are tightening global egg supplies and raising prices for the food staple as the war in Ukraine disrupts shipments to Europe and the Middle East. Higher prices are particularly painful for consumers who rely on eggs as a low-cost source of protein and substitute […] April 29, 2022
Manufacturing Lucid to buy 100,000 electric vehicles from Saudi Arabia Electric carmaker Lucid Group Inc on Tuesday said it has signed an agreement with the government of Saudi Arabia for the purchase of up to 100,000 of its vehicles over the next 10 years. Saudi Arabia commits to purchase 50,000 vehicles under the agreement, with an option to buy an additional 50,000 vehicles during the ten-year time frame, […] April 29, 2022
Banking & Finance Qatar Airways suffers setback in feud with Airbus A British judge has denied a bid by Qatar Airways to reinstate a jet contractcancelled by Europe’s Airbus in the latest twist to a dramatic feud playing out in UK courts. The companies have been locked in a safety dispute for months on Europe’s A350 long-haul jet. Their unprecedented bust-up widened in January when Airbus revoked a separate deal for […] April 29, 2022
Retail Tata Motors maps out long-range EVs for India and beyond Tata Motors says it plans to launch electric cars with a minimum range of 500 kilometres (310 miles) and advanced technology features, targeting buyers in India and beyond. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled […] April 29, 2022
Tourism Airbus wins backing for 2024 jet output European planemaker Airbus looks set to raise narrowbody jetliner production for 2024 after reaching a compromise deal with at least two suppliers following months of wrangling over the speed of post-pandemic recovery. The world’s largest planemaker is restoring and slightly expanding pre-pandemic output for best-selling models as traffic rebounds in the West, but has been […] April 29, 2022
Energy Volkswagen and BP consider e-car charging alliance in new regions Europe’s top carmaker Volkswagen and BP are planning to deepen their electric charging partnership and could expand it to other regions and technologies, the CEOs of both companies said on Thursday. “There are so many more areas where we are complementary,” Volkswagen CEO Herbert Diess told reporters on the sidelines of an event in Duesseldorf […] April 29, 2022
Tourism Emirates widens refurbish plan amid delivery delays Emirates will refurbish more of its existing fleet than previously planned,its chief commercial officer said on Tuesday, as the airline faces delays to deliveries of new Boeing jets and seeks assurances over concerns with the Airbus A350s it ordered. The Gulf carrier is spending over a $1 billion to refurbish the fleet which includes installing a new premium economy […] April 29, 2022
Tech UAE agtech Right Farm raises $2.8m from investors Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ’s venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector. Right Farm said in […] April 28, 2022
Manufacturing Tesla’s big swoon as Musk moves for Twitter This has been a wild week in the auto business. Ford and General Motors are duking it out over which of them will be No. 1 in the US electric vehicle market by the middle of the decade. Meanwhile, the current No. 1, Tesla, got a rude slap from its shareholders. You’d think convincing skittish […] April 27, 2022
Turtle Beach explores options to defend against hedge fund Turtle Beach Corp is looking at strategic alternatives including a possible sale, the company said, as it seeks to defend itself against a hedge fund which is seeking to replace all of the gaming equipment company’s six board members. Investment advisory firm Donerail Group and Turtle Beach have both made regulatory filings urging the company’s […] April 25, 2022
UnitedHealth to sell claims business for $2.2bn UnitedHealth Group has agreed to sell Change Healthcare’s claims editing business for $2.2 billion in a move some analysts say could ease regulatoryhurdles in the way of an $8 billion merger between the healthcare companies. Earlier this year, the U.S. Department of Justice (DoJ) sued to stop the acquisition for giving UnitedHealth access to competitors’ data, forcing the companies to […] April 25, 2022
Tech Saudi agtech startup Red Sea Farms raises $18.5m Saudi Arabian agriculture technology startup Red Sea Farms has raised an additional $18.5 million to help expand its fresh produce line, and also to sell its technology to users in harsh, water scarce environments. The funding was raised from Saudi Aramco’s Wa’ed, The Savola Group, KAUST Innovation Fund and OlsonUbben, the company said. Red Sea […] April 25, 2022
Banking & Finance World Bank to push ahead with some Afghan projects The World Bank has resumed work on three projects in Afghanistan focused on health, agriculture and livelihoods, but will maintain a hold on some $150 million for education projects, two sources familiar with the decision said Tuesday. The multilateral development bank had put all four projects, valued at around $600 million, on hold in late […] April 19, 2022
Agriculture EU plans to counter Russia with food diplomacy in North Africa, Middle East The EU aims to address rising wheat and fertilizer prices and expected shortages in the Balkans, North Africa and the Middle East with “food diplomacy” to counter Russia’s narrative on the impact of its Ukraine invasion, EU diplomats and officials say. Food insecurity was causing “resentment” in vulnerable countries in these regions, while Moscow was […] April 12, 2022
Agriculture Egypt’s wheat imports from Russia rose in March despite war Egypt received 479,195 tonnes of wheat from Russia in March, up 24 percent from the same month last year, according to freight data seen by Reuters. Ukrainian wheat imports stood at 124,500 tonnes, down 42 percent year-on-year. “Russian ports remained open,” said Mohammed El Gammal, a Cairo-based grains consultant for the UN Food and Agriculture […] April 6, 2022
