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South Korea

Lotte Chemical Sells 75% Stake in Pakistani Subsidiary for $69 Million

South Korea’s Lotte Chemical said on Thursday that it has sold about 75% of its stake in its Pakistani subsidiary to Dubai-based PTA Global Holding for 98…

Combined cycle power plant

Blackstone to Invest $1.2 Billion in Power Generation Facility in West Virginia

Blackstone said on Thursday that one of its units will invest about $1.2 billion to build a new power plant in West Virginia. The announcement reflects the asse…

Oil Pipeline

Nigeria’s Dangote Plans $1 Billion Investments in Zimbabwe

Nigeria’s Dangote Group will invest at least $1 billion in Zimbabwe to develop a pipeline, power generation facilities, and a cement plant, founder and CE…

United States

AMD Expects Profit to Triple by 2030, Data Center Chip Market to Grow to $1 Trillion

Advanced Micro Devices (AMD) announced on Tuesday that it expects annual data center chip revenue to reach $100 billion within the next five years, with earning…

United States

Meta Plans $600 Billion US Spend as AI Data Centers Expand

Meta Platforms (META.O) announced on Friday that it plans to invest $600 billion in U.S. infrastructure and job creation over the next three years, with a major…

Indonesia

Indonesia Blocks Illegal CPO Export Worth Rp 28.7 Billion

Indonesia’s Finance Ministry and National Police have intercepted an illegal export attempt involving crude palm oil derivatives valued at Rp 28.7 billion…

Hydrogen Fuel Cell

Hyundai Motor Breaks Ground on Hydrogen Fuel Cell Facility in South Korea

Hyundai Motor Company, part of South Korea’s Hyundai Motor Group (HMG), has held a groundbreaking ceremony for its new hydrogen fuel cell production plant…

United Arab Emirates

Ta’Ziz Signs $2BN Deal to Build One of World’s Largest PVC Plants in UAE

Abu Dhabi-based Ta’ziz has awarded a $1.99 billion contract to China National Chemical Engineering and Construction Corporation Seven (CC7) to build the U…

United States

Amazon’s $38 Billion OpenAI Deal Shows It Is No Longer an AI Laggard

Amazon’s $38 billion cloud agreement with OpenAI marks a major milestone for the company’s cloud computing division, Amazon Web Services (AWS), following rece…

Electric Vehicle Battery

Samsung SDI in Talks With Tesla to Supply Energy Storage Batteries, Shares Soar

South Korea’s Samsung SDI announced on Tuesday that it is in discussions with Tesla to supply energy storage batteries, in a deal estimated by local media…

Wind Farm

Orsted Sells 50% Stake in UK Wind Farm for $6 Billion to Apollo

Denmark’s Orsted (ORSTED.CO) announced on Monday that it has agreed to sell a 50% stake in the Hornsea 3 offshore wind farm in the United Kingdom to Apoll…

Metal

Canada to Accelerate Critical Mineral Projects Worth $4.6 Billion, Energy Minister Says

Canada announced on Friday that it will accelerate mining projects worth C$6.4 billion ($4.6 billion) under the Critical Minerals Production Alliance, according…

Electric Vehicles

Ford to Make New Engines in India With $370 Million Investment

Ford Motor Co. (F.N) plans to invest about 32.5 billion Indian rupees ($369.76 million) in India to produce new engines, according to a person familiar with the…

India

Maersk’s APM Terminals Eyes $2 Billion Investment in Indian Port

Danish shipping company Maersk (MAERSKb.CO) announced on Thursday that its port operations subsidiary, APM Terminals, may invest approximately $2 billion to exp…

United Arab Emirates

Chinese State Company to Build Dubai Towers

China Railway 18th Bureau Group, part of state-owned China Railway Construction Corporation, has secured a contract valued at about $272 million (AED 1 billion)…