40pc LIKELY RETURN FOR INVESTORS
GFH Group, a leading regional financial group with interests in asset management and real estate, said its subsidiary GFH Capital has exited from its US industrial portfolio - consisting of 26 assets with over 2.7 million-sq-ft area - acquired in 2016.

Leading trade show organiser Informa Markets has announced the launch of its latest B2B online platform for the processing and packaging industry – ProPak Connect.

The technology group Wärtsilä has signed a Memorandum of Understanding (MoU) with Global Energy Ventures (GEV) of Australia, a company specialised in delivering compressed shipping solutions for transporting energy to regional markets.

UAE-based Arkan Building Materials Company has announced that it has won approval from the board for a strategic transaction to buy Emirates Steel Industries. The transaction will now be put forward to Arkan’s General Assembly for shareholders' approval.

Bahrain’s Labour Fund “Tamkeen”, has announced a 3-month extension of its ’Business Continuity Support Programme’ for institutions affected by the Covid-19 pandemic.

German biotechnology company BioNTech SE and Siemens intend to expand their strategic cooperation for the rapid expansion and creation of production capacity for the Covid-19 vaccine.

GE and IHI Corporation (IHI), a heavy industry manufacturer in Japan, have signed an agreement to develop of gas turbine business roadmap, to support the use of ammonia as a carbon-free fuel to lower carbon emissions.

Business leaders from around the world met at a virtual Trade Dialogues session on June23 to discuss how the World Trade Organization (WTO) could address current and future challenges, such as the Covid-19 pandemic.

START-UP TARGETED FOR 2025
Industrial chemical zone TA’ZIZ and Fertiglobe, an Adnoc and OCI company and a global leader in urea and ammonia, have signed an agreement for Fertiglobe to join the world-scale blue ammonia production project at TA’ZIZ in Ruwais, Abu Dhabi.

RENEWABLE ENERGY BOOST
Abu Dhabi-based Mubadala Investment Company has announced the acquisition of a 2.6 per cent stake in Anglo-Russian green energy and metals company EN+. With this deal, Mubadala’s total share in EN+ now stands at 2.86 per cent on a fully diluted basis.

Allison Transmission, one of the world’s largest manufacturers of fully automatic transmissions for commercial vehicles, has introduced its 3000 xFE and 3200 xFE models for use in the medium-duty trucks across the Europe, Middle East and Africa region.

The Finnish company UPM-Kymmene has selected Siemens Energy to supply electrification, automation, and digitalization (EAD) packages for a next-generation biorefinery currently under construction in Leuna, Germany.