Thermo Fisher Scientific Acquired Patheon for $7.2 Billion
Indian Oil announce $27 Billion Investment plan in next 6 years
Apple to invest $1.3 Billion to build Waukee, Iowa Data Center
GIC to acquire 33% stake in DLF rental arm for $1.3 Billion
FOREIGN DIRECT INVESTMENTS AND MERGER & ACQUISITIONS 28AUGUST - 2 SEPTEMBER 2017
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
IndianOil's 58th Annual General Meeting was held at Mumbai, India, where the Corporation's Board members presented the annual performance of the Corporation to the shareholders. Addressing the shareholders and highlighting the Corporation's performance over the last financial year, Chairman, IndianOil, Mr. Sanjiv Singh said, "IndianOil exceeded all previous benchmark indices in physical performance in 2016-17, whether it is sales, refineries and pipelines throughput, R&D initiatives, petrochemicals sales, gas marketing or upstream integration. It is your trust in IndianOil that has kept your Company growing year after year, for nearly six decades, fuelling the nation's growth and economic transformation, serving diverse customer segments with customised products & services, and fulfilling its commitment to all its stakeholders"
Being in the Oil & Gas industry, the Corporation has to address several environmental concerns. Talking about the same, Mr. Singh said, "IndianOil is committed to a sustainable future and therefore to reduce carbon emissions and greenhouse gas emissions in the coming years, IndianOil refineries are preparing for a transition from BS-IV to BS-VI grade fuels by April 2020. India will join the developed world by attaining this highest standard of automotive fuels." As part of the ongoing initiatives for a green planet, "clean fuels, bio-fuels and alternative, renewable energy sources such as solar energy and wind-power are being progressively integrated into the energy mix by IndianOil," he added.
Talking about the upcoming projects and the future plans of the Corporation, Chairman, IndianOil said, "with a capital expenditure target of about Rs. 1.8 lakh crore in the next 5 to 7 years, IndianOil is scaling up its investments in areas that will ensure profitable growth both in terms of volumes and revenue. The Corporation, with over 10 subsidiaries and 15 joint ventures in India and abroad, is evolving into a fully integrated, diversified energy conglomerate with interconnected but competing business verticals like Transport Fuels, Industrial Fuels, LPG, Natural Gas, Chemicals & Petrochemicals, Aviation Fuel, Lubricants, Greases & Special Products, Bio-fuels, Electricity from Solar & Wind-power, Innovative Power Storage Systems and even Hydrogen." Read more...
Indian Oil announce $27 Billion Investment plan in next 6 years
Apple, announced plans to build a 400,000-square-foot, state-of-the-art data center in Waukee, Iowa, to better serve North American users of iMessage, Siri, the App Store and other Apple services. Like all Apple data centers, the new facility will run entirely on renewable energy from day one.
Apple’s investment of $1.3 billion will create over 550 construction and operations jobs in the Des Moines area, and the company is contributing up to $100 million to a newly created Public Improvement Fund dedicated to community development and infrastructure around Waukee.
“At Apple, we’re always looking at ways to deliver even better experiences for our customers. Our new data center in Iowa will help serve millions of people across North America who use Siri, iMessage, Apple Music and other Apple services — all powered by renewable energy,” said Tim Cook, Apple’s CEO. “Apple is responsible for 2 million jobs in all 50 states and we’re proud today’s investment will add to the more than 10,000 jobs we already support across Iowa, providing even more economic opportunity for the community.”
The new Public Improvement Fund, to be established and managed by the City of Waukee, will support the development of community projects like parks, libraries and recreational spaces, as well as infrastructure needs. The first project the fund will support is construction of the Waukee Youth Sports Campus featuring a greenhouse, playground, fishing pier and fields for high school and public sporting events. Read more...
Apple to invest $1.3 Billion to build Waukee, Iowa Data Center
EIB backs USD 120 million Sainshand wind farm in Mongolia
The Sainshand wind farm in Mongolia, the third privately financed wind farm in the country, will receive a USD 120 million project financing package from a group of international investors and financiers
Located 460 km south-east of Ulaanbaatar in the Gobi Desert, Sainshand Salkhin Park LLC is sponsored by French energy leader ENGIE, German project developer Ferrostaal, Danish Climate Investment Fund (DCIF) and Mongolian entrepreneur, Radnaabazar Davaanyam, with long-term financing provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
The lenders have agreed to provide a total project financing of USD 78.5 million, which comprises EIB funding of USD 47 million, of which the first tranche will be guaranteed by EKF, Denmark’s Export Credit Agency, with NORD/LB acting as agent; and EBRD funding of USD 31.5 million.
Once operational, the new Sainshand wind farm will make a significant contribution to reducing Mongolia’s carbon emissions and cater for an expected increase in power demand in the country. The scheme will significantly enlarge Mongolia’s renewable energy capacity and help the government to achieve the goal of renewable energy accounting for 20 per cent of all power by 2020, and 30 per cent by 2030.
Jonathan Taylor, Vice President, European Investment Bank (EIB), said: “The European Investment Bank is committed to supporting climate-related investment across Asia and is pleased to support development of wind power in Mongolia, which provides an alternative to coal use. The Sainshand wind farm will use world-class technology and demonstrate that wind power can be successfully harnessed in remote regions facing a harsh climate.”
Hans-Dietmar Schweisgut, Ambassador, European Union to Mongolia, said: “Mongolia and the European Union are signatories of the Paris Climate Agreement and the new Sainshand wind farm shows the close partnership between Europe and Mongolia to reduce carbon emissions through renewable energy. European finance and technical expertise, working in close cooperation with Mongolian partners, demonstrate a shared ambition to harness wind from the Gobi Desert to tackle climate change.” Read more...
DLF Ltd and GIC, Singapore’s sovereign wealth fund, have entered into a strategic partnership to develop a rental assets portfolio, under the consolidated portfolio of DLF Cyber City Developers Ltd. (“DCCDL”), a subsidiary of DLF Ltd. The partnership enables sustainable, long-term growth of DCCDL’s rental business and creates an optimum structure for its rental business to improve efficiency, with long-term capital for growth of the portfolio.
“We are excited to enter into, yet another, landmark transaction with GIC”, said Rajiv Singh, Vice Chairman, DLF Ltd. "Going forward, we expect this partnership to unlock significant embedded value in this portfolio and achieve scale and growth to unprecedented levels", he added.
Mr Lee Kok Sun, Chief Investment Officer, GIC Real Estate, said, “We are pleased to enhance our existing partnership with DLF, one of India’s leading real estate developers, through this landmark transaction. This portfolio comprises high-quality, income-generating assets which are located across India's top-tier cities. In addition, there is significant development potential within the portfolio. As a long-term investor, we believe in the growth potential of India and in strengthening relationships with like-minded partners."
The transaction envisages an enterprise value of approx. US$ 5.6 billion for DCCDL. Post completion of series of steps as contemplated in the transaction, DLF shall hold 66.66% equity shares (up from 60% diluted equity earlier) and an affiliate of GIC shall hold 33.34% equity shares in DCCDL. The gross proceeds to the sellers from the transaction would be Rs 11,900 crore (approx. US$1.9 billion), which comprises secondary sale of equity shares (post-conversion of Compulsory Convertible Preference Shares – “CCPS”) to GIC for approx. Rs 8,900 crore (approx. US$1.4 billion), and two buybacks of CCPS for Rs 3,000 crore (approx. US$0.5 billion) by DCCDL – out of which one shall be done before the closing and the second will be done 12 months thereafter.
The transaction has customary representations and indemnities; subject to regulatory and shareholder approvals. Read more...
GIC to acquire 33% stake in DLF rental arm for $1.3 Billion
ADB to provide $180M to Help Improve Railway Safety in China
The Asian Development Bank’s (ADB) Board of Directors has approved a $180 million loan to help the government build a safer, more reliable, and more efficient rail transport system in the mountainous southwest region of the People’s Republic of China (PRC).
The Mountain Railway Safety Enhancement Project will fund advanced railway safety equipment for the E’Mei-Miyi section — about 386 kilometers long — of the Chengdu-Kunming railway line, considered one of the most important railway networks supporting tourism and economic growth in the PRC.
“A safer and more advanced railway system will give residents better and faster transport options and support economic growth in the region,” said Sharad Saxena, Principal Transport Specialist for ADB. “It can also provide more jobs, improve people’s quality of life, and strengthen gender equality. We look forward to working closely with our counterparts to achieve these objectives.”
The project will help install new technologies, including advanced railway signaling, communication, and power supply mechanisms, as well as tunnel safety operation and monitoring systems. These will allow for more seamless train operations to avoid delays, technical difficulties such as power outages, accidents, and other emergency situations. Read more...
Propertyfinder Group, the leading real estate portal in the MENA region for more than a decade, acquires 16.95 percent of Zingat, the fast-growing property and information marketing platform in Turkey.
Leaders involved in the agreement commented.
" Zingat has become an important part of the network of Property Finder Group " , said Michael Lahyani , founder and CEO of PFG , the Zingats Board joins.
Zingat founder and CEO Ahmet Kayhan said, "At Zingat, we aim to bring customers together with the right real estate professionals who use data and information effectively of the fast-growing real estate portals in the world, with over 6 million visitors a month and more than 18,000 real estate brokers. "
He added, "Michael and his team have established the Propertyfinder Group with an impressive list of shareholders as the largest and strongest real estate portal network in the MENA region." Zingat is proud to be an important part of this network. "
" We believe in Turkey and the stability of Turkey. "
Husnu Akhan , CEO of the Doğuş Group, commented on the investment of PFG: "Although Zingat is new to the market, the Propertyfinder Group's investment in Zingat shows that this is the right path Turkish real estate portals attracting significant foreign investment.We place a strong emphasis on property investments.The knowledge of the Propertyfinder Group and the extensive MENA network will strengthen Zingat and make it the most important platform for real estate investors. " Read more...
Propertyfinder invests in the Turkish property portal Zingat
Thermo Fisher Scientific Acquired Patheon for
Thermo Fisher Scientific Inc., the world leader in serving science, announced that it has completed its acquisition of Patheon N.V., a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion.
"We're pleased to complete our acquisition of Patheon and look forward to the significant value this transaction will create for our customers and our shareholders," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "By adding Patheon's highly complementary CDMO capabilities to our leading clinical trials services and bioproduction technologies, we will be an even stronger partner for our pharmaceutical and biotech customers. We're delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths."
Patheon generated fiscal 2016 revenue of approximately $1.9 billion and will become part of Thermo Fisher's Laboratory Products and Services Segment. For the remainder of 2017, the transaction is expected to be approximately $0.09 accretive to adjusted earnings per share1, which includes $0.02 in the third quarter. Details of the 2017 impact will be provided during Thermo Fisher's third quarter earnings call in late October.
Thermo Fisher continues to expect to realize total synergies of approximately $120 millionby year three following the close, consisting of approximately $90 million of cost synergies and approximately $30 million of adjusted operating income benefit from revenue-related synergies. Read more...
CSL Limited, announced that CSL Behring has agreed to acquire Calimmune, Inc., a US biotechnology company focused on the development of ex vivo hematopoietic stem cell (HSC) gene therapy with R&D facilities in Pasadena, California, USA and Sydney, New South Wales, Australia for an upfront payment of $91 million.
The acquisition will provide CSL Behring with Calimmune’s pre-clinical asset, CAL-H, an HSC gene therapy for the treatment of sickle cell disease and β-thalassemia, which complements CSL Behring’s current product portfolio and deep expertise in hematology.
Additionally, CSL Behring will acquire two unique proprietary platform technologies, Select+™ and Cytegrity™ (see below for further details). These technologies are designed to address some of the major challenges currently associated with the commercialization of stem cell therapy, including the ability to manufacture consistent, high-quality products, and to improve engraftment, efficacy and tolerability. Both technologies have broad applications in ex vivo stem cell gene therapy.
“Calimmune shares in our promise and focus to improve the lives of patients with rare and serious medical conditions,” said CSL Limited Chief Executive Officer and Managing Director, Paul Perreault. “The acquisition represents another important step in the execution of our strategy for sustainable growth.”
“Calimmune’s scientific accomplishments are impressive,” Perreault added. “The team has built a robust technology platform, and designed a promising HSC gene therapy candidate - CAL-H, which strongly aligns with our longer-term strategic goals, and complements our core competencies and areas of therapeutic focus. While Calimmune is still in the early stages, we believe that our combined strengths have tremendous potential to change treatment paradigms, and most importantly, significantly improve the lives of our patients.” Read more...
CSL Behring to acquire Calimmune, Inc
Gilead Sciences to Acquire Kite Pharma for $11.9 Billion
Gilead Sciences, Inc., and Kite Pharma, Inc., announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash. The transaction, which values Kite at approximately $11.9 billion, was unanimously approved by both the Gilead and Kite Boards of Directors and is anticipated to close in the fourth quarter of 2017. The transaction will provide opportunities for diversification of revenues, and is expected to be neutral to earnings by year three and accretive thereafter.
Kite is an industry leader in the emerging field of cell therapy, which uses a patient’s own immune cells to fight cancer. The company has developed engineered cell therapies that express either a chimeric antigen receptor (CAR) or an engineered T cell receptor (TCR), depending on the type of cancer.
Kite’s most advanced therapy candidate, axicabtagene ciloleucel (axi-cel), is a CAR T therapy currently under priority review by the U.S. Food and Drug Administration (FDA). It is expected to be the first to market as a treatment for refractory aggressive non-Hodgkin lymphoma, which includes diffuse large B-cell lymphoma (DLBCL), transformed follicular lymphoma (TFL) and primary mediastinal B-cell lymphoma (PMBCL). The FDA has set a target action date of November 29, 2017 under the Prescription Drug User Fee Act (PDUFA). A marketing authorization application (MAA) has also been filed for axi-cel for the treatment of relapsed/refractory DLBCL, TFL and PMBCL with the European Medicines Agency (EMA), representing the first submission in Europe for a CAR T therapy. Approval in Europe is expected in 2018. Kite has additional candidates in clinical trials in both hematologic cancers and solid tumors, including KITE-585, a CAR T therapy candidate that targets BCMA expressed in multiple myeloma.
We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer. Our similar cultures and histories of driving rapid innovation in order to bring more effective and safer products to as many patients as possible make this an excellent strategic fit.” Read more...
Health Ministers and officials from APEC member economies are building capacity for healthcare financing and access in the Asia-Pacific to accommodate dramatic changes in demand and ensure productive workforces.
Viet Nam Deputy Prime Minister Vu Duc Dam launched two-day policy consultations, held in Ho Chi Minh City and supported by inputs from the private sector, by underscoring the urgent need for action to improve health innovation and coverage.
“An investment in health is an investment for development,” exhorted Deputy Prime Minister Vu. “Sharing policy successes and failures, and applying lessons learned is critical to moving APEC member economies towards our common goal of a healthy Asia-Pacific.”
“APEC economies with similar levels of health expenditure achieve strikingly different health outcomes from their investments,” added Prof Thi Kim Tien, Viet Nam’s Health Minister and meeting chair. “Clearly, no single mix of policy options will work in every setting,” she noted.
Ministers and officials are fleshing out new collaborative measures for enabling access to safe, effective and affordable healthcare for all people across APEC economies, in accordance with their APEC Healthy Asia-Pacific 2020 Initiative under implementation.
They are focused on advancing efficient, sustainable health system financing, trade and investment flows, and mechanisms for assessing returns on investment in health—bearing in mind variations in domestic circumstances as well as shared health challenges in APEC. Read more...
APEC Health Ministers Boost Patient-First Investment
The government of Bangladesh signed a $515 million financing agreement with the World Bank to improve the country’s health, nutrition, and population services.
The Health Sector Support Project will contribute to the government’s fourth health sector program, and support strengthening the country’s health system, improving quality and coverage of essential services, and enhancing equity, in particular through a focus on service improvements in Sylhet and Chittagong divisions, where key health indicators are below national averages.
“Since 1975, the World Bank has been working closely with the government to improve the country’s health, nutrition and population outcomes.
Bangladesh has made notable progress in cutting maternal and child mortality rates by more than half since 2000, and we are proud to have contributed to these successes,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal. “This financing demonstrates the World Bank’s continued commitment to support government’s strategy to further improve the country’s health and nutrition services for all.”
The project will support the government in consolidating progress and filling remaining gaps in basic health services, including provision of quality delivery care in public health facilities for over 800,000 mothers as well as basic immunization coverage for nearly 5 million children in Sylhet and Chittagong divisions between 2017 and 2022.
The project will also support the government in meeting growing demand for quality health services, and addressing emerging health challenges such as non-communicable diseases and urban health. Further, as the government’s health spending increases, the project will help strengthen the country’s management of its health system, including procurement financial management systems. Read more...
Bangladesh Receives $515 million World Bank Financing to Improve Health and Nutrition Services
Grand Fan Group, a company and distributor of three leading hair and body wash and care brands in China, held a press conference at which they announced the acquisition of the CICABEL brand and related technologies from French pharmaceutical manufacturer Santinov . The Chinese firm also disclosed that the first peptide-based facial mask set with the CICABEL name will formally go on sale in September.
An executive at Grand Fan Group said that as part of its ongoing expansion plans, the company is committed to developing new brands specifically for China's makeup and skin care market, while continuing to improve its three existing hair and body wash and care brands. This acquisition of a French brand represents Grand Fan Group's first strategic foray into the skin care sector.
CICABEL is a 130-year-old brand of French medical products manufacturer Santinov. Santinov created and launched the CICABEL mask using stem cells as the principal component, following years of research and development on the back of strong technological competence. In line with accepted biotechnology and medical standards, the CICABEL mask is one of few beauty products based on bio-medical technologies available in the market.
Although an enhanced awareness of skin care has led to an increasingly strong demand for beauty products over the last several years, the weak performance of most facial mask products available in the market has served to discourage consumers. Read more...
Grand Fan Group acquires the CICABEL brand
Siemens to acquire TASS International
Siemens will acquire TASS International, a global provider of simulation software, plus engineering and test services aimed primarily at the automotive industry, and focused on autonomous driving, integrated safety, advanced driver assistance systems (ADAS), and tyre modeling. Based in Helmond, Netherlands, TASS International has developed a rich family of solutions that will further strengthen Siemens' product lifecycle management (PLM) software portfolio, and add to its position as the leading supplier of systems-driven product development offerings for the global automotive industry.
"The automotive industry is a core focus for Siemens and our acquisition of TASS International is another example of our commitment to offer a complete Digital Enterprise solutions portfolio, enabling automotive companies to realize their digital transformation and fully benefit from all opportunities of digitalization," said Dr. Jan Mrosik, CEO of Siemens' Digital Factory Division. "TASS International is a proven leader in both integrated safety and autonomous driving, two fields of engineering that are increasingly important for the industry. By combining its strengths with Siemens' PLM offerings, we are able to respond even better to today's challenges in the automotive industry."
With active safety and advanced driver assistance systems features increasingly becoming the norm in the automotive industry, the compelling trends of connected and autonomous driving vehicles set new requirements for virtual and physical validation and verification of automotive vehicles.
"The Siemens PLM Software portfolio offers a significant opportunity for TASS International and its customers to accelerate the development of safety-critical applications in the field of automated and connected driving. Our engineering and test services will reach a larger audience through the extensive Siemens global footprint," said Jan van den Oetelaar, CEO of TASS International. "The integration of TASS International into the Siemens organization is expected to create a stable long-term environment and allow access to a vast knowledge base. This can help to build an integrated toolchain for verification and validation of complex automotive functions that should benefit both the automotive industry as well as government organizations worldwide." Read more...
The Middleby Corporation Acquires QualServ Solutions, LLC
The Middleby Corporation, announced the acquisition of QualServ Solutions, LLC, a global commercial kitchen design, manufacturing, engineering, project management and equipment solutions provider. QualServ, based in Fort Smith, Ark., has annual revenues of $100 million.
“QualServ is a respected industry leader providing a unique set of services and equipment solutions for the commercial foodservice equipment industry. This acquisition expands the Middleby product offerings to include kitchen fabrication, and will allow us to provide integrated equipment solutions with our existing portfolio of brands and products,” said Selim A. Bassoul, Chairman and CEO. “The addition of QualServ will also enable us to further expand the services we provide to our global restaurant chain customers. These customers want logistical and engineering solutions in both the back and front of the restaurant and with QualServ we have the ability to provide advanced data analytics and broader services beyond equipment sales. QualServ has grown substantially over the past few years and combined with Middleby we anticipate growth through expansion of their capabilities into international markets by leveraging Middleby’s global footprint.”
QualServ delivers “Store-in-a-Box” solutions by providing comprehensive design and turn-key solutions to customers in the foodservice, retail, and convenience store industries. Read more...
The Renault-Nissan Alliance and Dongfeng Motor announced JV to develop EV in China
The Renault-Nissan Alliance and Dongfeng Motor Group Co., Ltd. (Dongfeng) announced a new joint venture to co-develop and sell electric vehicles (EV) in China.
The new joint venture, eGT New Energy Automotive Co., Ltd. (eGT), will focus on the core competencies of each partner and will harness the full potential of the Renault-Nissan Alliance electric vehicle leadership, as well as the resources of Dongfeng in the new energy industry, to meet the expectations of the Chinese market.
eGT will design a new EV with intelligent interconnectivity, that will be in line with the expectations of Chinese customers. It will be jointly developed by the Alliance and Dongfeng on an A-segment SUV platform of the Renault-Nissan Alliance. It will draw on the global leadership on EV technologies and cost-effective car design experience from the Alliance, and the competitive manufacturing costs from Dongfeng.
“The establishment of the new joint venture with Dongfeng confirms our common commitment to develop competitive electric vehicles for the Chinese market,” said Carlos Ghosn, chairman and chief executive officer of the Renault-Nissan Alliance. “We are confident to meet the expectations of the Chinese customers and to strengthen our global electric vehicle leadership position.”
“This project is the result of a joint effort to develop electric vehicles for the Chinese market, by the 'Golden Triangle' formed by Dongfeng, Renault and Nissan, with an innovative business model,” said Zhu Yanfeng, Chairman of Dongfeng. “We expect to meet the transformation trend of the market in China; where cars are becoming light, electric, intelligent, interconnected and shared. This is also testimony of a deepened and strengthened strategic cooperation between the three parties.”
Renault, Dongfeng and Nissan (China) Investment Co., Ltd. (Nissan) have signed an agreement to set up the new joint venture. Renault will hold 25 percent of eGT, Nissan will hold 25 percent and Dongfeng the remaining 50 percent. Read more...
Curio Collection by Hilton Launches In The UK
Overlooking the world-famous Trafalgar Square, The Trafalgar St. James, Curio Collection by Hilton, has officially joined the exclusive collection of more than 35 hotels and resorts. As the first Curio Collection by Hilton hotel in the UK, the hotel was hand-picked to be a part of the global, upper upscale collection of one-of-a-kind independent properties all celebrated for their individuality.
Nestled in the heart of Central London, on the south side of the world-famous Trafalgar Square, The Trafalgar St. James offers unrivalled proximity to some of the city's most iconic attractions such as The National Gallery and Theatreland. The hotel boasts 131 bedrooms and 15 exquisite suites; each space is artfully accentuated with Art Deco design notes, tactile furnishings and bold colour choices creating a sanctuary of style.
A destination in itself, the hotel offers everything from contemporary bedrooms to a stunning rooftop bar with unrivalled panoramic views over the city, all in the bustle of central London. Opening this October, The Rooftop, formerly known as Vista, has been transformed into a year-round destination featuring a stylish lounge and dining area, with a menu full of small plates and healthy eating options. Complete with alfresco and canopy-covered seating, the 378-square-metre sky-high space features an open fireplace, heaters and blanket selection to provide warmth throughout the cooler months. For special occasions and intimate gatherings, Room - a glass-enclosed private dining Room with the capacity to seat 14 people - will be available for hire. Read more...
AccorHotels introduces first Ibis Styles hotel in the United States
ibis Styles, the economy brand from AccorHotels has made its debut in the United States with the opening of ibis Styles New York LaGuardia Airport.
As part of AccorHotels’ continued expansion of its economy hotel brands worldwide, the global hospitality group announced the introduction of ibis Styles New York LaGuardia Airport - the first of the ibis Styles hotel in the U.S. The hotel will also serve as the flagship hotel for the brand in the country. Located at the former site of the LaGuardia Airport Hotel, the property has undergone a major renovation to cater to leisure and business travelers seeking a satisfying, comfortable, and thoroughly distinctive guest experience that plays off the vibrant culture of the city that surrounds it.
“As the AccorHotels portfolio grows in North America, I am very proud to announce the first ibis Styles hotel in the United States”, said Kevin Frid, Chief Operating Officer, North & Central America, AccorHotels. “ibis Styles has already seen much success in Europe and South America, and we anticipate the brand to be a standout in New York as well.”
ibis Styles New York LaGuardia Airport
Like each of the 339 mid-size ibis Styles hotels distributed across 30 countries worldwide, the U.S. flagship property is stylish and distinctly imaginative. Located just across Grand Central Parkway from LaGuardia Airport, the singular design of the 93-room hotel is inspired by the New York City Subway. Design details create a lively universe, from whimsical in-wall lobby seating to throw pillows and artwork that take cues from the colorful emblems, stations and route maps found throughout the underground cultural hub. Read more..
Hyatt Hotels Corporation announced the official opening of Hyatt Regency Shanghai Global Harbor in Shanghai’s Putuo District. Hyatt Regency Shanghai Global Harbor marks the seventh Hyatt-branded hotel in Shanghai, joining Park Hyatt Shanghai; Andaz Xintiandi, Shanghai; Grand Hyatt Shanghai; Hyatt on the Bund, Shanghai; Hyatt Regency Chongming and Hyatt Regency Shanghai, Wujiaochang.
“We are delighted to welcome Hyatt Regency Shanghai Global Harbor to one of China’s largest cities,” said Christopher Koehler, vice president and managing director, China Operations, Hyatt. “This hotel has been thoughtfully designed to make guests feel welcome, comfortable and relaxed, so that they can socialize, connect and celebrate any occasion with us. We believe that through our collaboration with our owner, Yue Xing Group, the hotel will become a favorable choice for business and leisure travelers, and reinforce Hyatt’s commitment to growing its brands in markets where our guests are traveling most.”
Hyatt Regency Shanghai Global Harbor is designed to connect business and leisure travelers to all Shanghai has to offer. As part of the Shanghai Global Harbor, a mega complex that incorporates a high-end shopping mall, office tower, exhibition spaces, and restaurants, Hyatt Regency Shanghai Global Harbor offers a one-stop experience, designed with everything at guests’ fingertips. The hotel is nearby Zhongshan Park Commercial Area and Jing’an Temple Commercial Zone, and also has direct access to Metro Lines 3, 4 and 13. The National Convention and Exhibition Center (Shanghai), Hongqiao Railway Station and Hongqiao Airport is less than 25 minutes away.
“It is very exciting for everyone here at Hyatt Regency Shanghai Global Harbor to welcome our guests,” said Au Yong, general manager, Hyatt Regency Shanghai Global Harbor. “We are confident that the hotel’s spacious accommodations, premier meeting facilities and superior service will provide an authentic experience and one-stop convenience to business and leisure travelers.” Read more...
Hyatt Regency Shanghai Global Harbor Opens In East China
InterContinental® Hotels & Resorts, one of the world’s leading luxury hotel brands, continues its trailblazing heritage by opening the doors to InterContinental Ljubljana in Slovenia’s beguiling capital. The city is one of the latest rising stars in a hot list of emerging destinations in Eastern Europe.
Located in a modern 20-floor building in the centre of Ljubljana, the luxury InterContinental® Ljubljana is just a short walk from the iconic Ljubljanica River, Park Tivoli and Ljubljana Castle. The hotel has 165 guest rooms including 15 suites, most with panoramic views, and features contemporary interior design with sophisticated details reflecting Slovenian authenticity.
Ljubljana, Europe’s hidden gem
With its blend of culinary, design and cultural influences from neighbouring Austria, Italy and Croatia, Ljubljana sits in the heart of one of Europe’s most diverse countries. The charming city centre is steeped in history, architecture and a hive of traditional and fusion cuisine, making it the ideal 48-hour city break for romantics and culture lovers alike.
Tom Rowntree, Vice President Brand Management, Luxury & Boutique Brands Europe at InterContinental Hotels Group commented: “InterContinental® Hotels & Resorts has been pioneering luxury travel in emerging destinations around the world for more than 70 years, and InterContinental® Ljubljana is a prime example of this. Slovenia is a country of rich diversity, fusing multiple European influences in its food, culture, design and landscape - InterContinental® Ljubljana brings this together in one very sophisticated and stylish offering.” Read more...
InterContinental Hotels & Resorts Debuts In Ljubljana, Slovenia’
Inocybe Technologies and Wind River Collaborate for Networking Solutions
Inocybe Technologies, a leading Open Networking technology provider from the data center to the network edge, with Wind River today announced their collaboration to supply a fully integrated and ultra-reliable NFV foundation for the rigorous demands of carrier and critical enterprise networks.
Cloud, IoT and 5G are changing how modern networks are operated and deployed at scale. Inocybe’s Open Networking Platform is one of the first to enable enterprises and service providers to deploy software defined networking (SDN) and network function virtualization (NFV) solutions across an integrated and consumable environment. By validating and integrating Inocybe’s Open Networking Platform with offerings from the Wind River Titanium Cloud portfolio of virtualization software products, companies can utilize open networking solutions that are ready for deployment in global service providers’ production networks.
Inocybe’s Open Networking Platform and OpenDaylight-based controllers have been tested and validated as part of the Wind River Titanium Cloud ecosystem program. Through collaboration with Inocybe Technologies, an industry-leading open source software company, the Titanium Cloud ecosystem promotes the availability of interoperable standard products optimized for SDN and NFV deployments with Titanium Cloud to help accelerate time-to-market for service providers.
“We are seeing tremendous momentum of Open Networking technology adoption within service providers and enterprises. Companies deploying Cloud, 5G and IoT need to change how they manage and operate their networks at scale. The Inocybe Open Networking Platform is among the first to enable the deployment of OpenDaylight SDN and NFV solutions across and integrated environment. Together with Wind River, customers are now able to deploy an ultra-reliable, automated, intelligent and consumable network,” said John Zannos, Chief Revenue Officer at Inocybe Technologies. “Inocybe with Wind River can now help customers deploy production SDN and NFV technology.” Read more...
Western Digital Corp., and Upthere, Inc. announced today that Western Digital has completed the asset acquisition of Upthere, a leading cloud services company that is providing a new and better way to keep, find and share what's important and meaningful to consumers. Financial terms of the transaction were not disclosed.
Upthere provides an enhanced storage experience designed to be the single home for all of a user's photos, videos, documents and music. The Upthere app is platform agnostic and available for iPhone, iPad and Android devices, as well as macOS and Windows PCs. The addition of Upthere's technology and team to Western Digital's Client Solutions business unit will enhance the company's consumer products portfolio with new cloud-based offerings.
"Upthere is delivering on its mission to transform the personal storage market and we share their focus on providing consumers more rich and meaningful experiences with their data," said Jim Welsh, senior vice president and general manager of Client Solutions at Western Digital. "I'm pleased to have Upthere CEO Chris Bourdon join the team as a strategic leader. His extensive software expertise will help accelerate our user experience and cloud services imperatives across all aspects of the Client Solutions business."
Bourdon added, "The Upthere team is excited to join Western Digital, with whom we share a long-standing relationship and commitment to significantly advance the consumer experience through cloud-based solutions. It is clear that Western Digital recognizes the great technology and products we have developed and this transaction is a testament to our hard-working team. I am confident that, together, we will continue to innovate cloud-based services with the potential to revolutionize how consumers and businesses create, manage and keep their important data." Read more...
Western Digital has completed the acquisition of Upthere
Airtel & Symantec announce Strategic Partnership to offer Cyber Security Solutions in India
Bharti Airtel (“Airtel”), India’s largest telecommunications services provider, and Symantec Corp. (Nasdaq: SYMC), the world’s leading cyber security company, announced a strategic partnership to serve the growing cyber security requirements of businesses in India, providing protection and prevention of online threats in an increasingly digitally connected world. Under the terms of the agreement, Airtel will be the exclusive Cyber Security Services partner for Symantec in India, and will distribute Symantec’s enterprise security software.
The partnership aims to leverage Airtel’s strength in India’s Business to Business (B2B) segment, helping them address the challenges of the Cloud Generation with Symantec’s innovative Integrated Cyber Defense Platform. As Indian enterprises embrace cloud applications and infrastructure, they require security technologies built for this new cloud-based environment to gain the upper hand on adversaries. The partnership will give customers stronger protection and prevention, greater visibility and better control of critical assets, users and data.
Airtel Business serves over 2,000 large enterprise accounts, plus more than 250,000 corporate and tech startups with its integrated telecom solutions. In addition, it has a strong presence in Central and State Government departments/divisions. Symantec Cyber Security Services prepares organizations for every stage of the attack lifecycle through global Threat Intelligence Services, Managed Security Services, Incident Response Services and Cyber Skills Development Services to protect organizations from internal and external attacks.
Oracle announced its collaboration with Mitsubishi Electric Corporation to develop an Internet of Things (IoT) platform for smart manufacturing. With Oracle Cloud, Mitsubishi Electric developed its new FA-IT Open Platform for factory automation. Using edge computing between devices and business applications, the new platform enables the rapid collection, analysis, and utilization of data at production site.
With organizations rapidly adopting Industry 4.0, manufacturers are increasingly seeking to optimize their total manufacturing processes by using IoT to collect data from all equipment in factories for visualization and analysis. Developing such IoT systems from scratch is an enormous task requiring that data be collected and modeled from a wide variety of production equipment, including existing equipment, for analytical purposes.
With FA-IT Open Platform, vendors can create manufacturing applications for operation on the platform, including connecting the platform to industrial networks to collect data from diverse devices and production equipment. The cloud-connected platform can be used to link manufacturing sites with cloud vendors' own cloud-supported manufacturing-optimization services for supply chains, administration of multiple factories worldwide, and other applications.
FA-IT Open Platform leverages Oracle Database Cloud, Oracle Java Cloud, Oracle BI Cloud, Oracle IoT Cloud, Oracle IoT Production Monitoring Cloud, Oracle SOA Cloud, and Oracle Infrastructure as a Service. Information received in real time from machine tools and production terminals is received by Oracle IoT Cloud, enabling efficient real time processing with the extensible infrastructure. Mitsubishi Electric utilizes machine learning of Oracle Database Cloud, the reporting function of Oracle BI Cloud, and the cost-effective Oracle Cloud Infrastructure in the analysis of accumulated Big Data, contributing to further development of solutions in the factory automation area for customers and to smart manufacturing industry. Read more..
Oracle and Mitsubishi Electric Collaborate to Develop IoT Platforms
DUBAI, United Arab Emirates, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has unveiled the blueprint for Dubai Food Park (DFP), the latest addition to Dubai Wholesale City (DWSC).
To be developed at a cost of US$1.5 billion, first destination in the Middle East dedicated to serving the food sector. DFP seeks to enhance Dubai’s position as a leading regional hub for food trade, import, export and re-export of foodstuffs. Conceptualized at a time when food trade makes up 11 percent of the UAE’s GDP and the food industry is estimated to grow by 70 percent to US$6.3 billion by 2030, the Park will offer all categories of food wholesale services to meet the high demand of the food sector in the UAE and the wider region.
DFP will span over 48 million square feet within DWSC, the largest wholesale hub in the world occupying 550 million square feet that will take shape over a 10-year period at an estimated cost of US$8.2 billion. The Park’s strategic location at the crossroads of East and West and easy accessibility to Dubai’s advanced logistics facilities distinguish it from other wholesale destinations worldwide.
DFP will fall under the supervision and responsibility of Abdulla Belhoul, CEO of Dubai Wholesale City. Speaking on the project, Belhoul said: “DFP has been established to meet the increased need for specialized logistical services to reduce supply chain costs. The Park will be a one-stop destination for government, administrative and logistical services related to food wholesale, import, export and re-export.” Read more...
UAE unveils US$1.5 billion Dubai Food Park at Dubai Wholesale City
IFC Supports Myanmar’s Agricultural Sector to Improve its Productivity and Quality
IFC, a member of the World Bank Group, signed an advisory agreement with Myanmar’s Ministry of Agriculture, Livestock and Irrigation (MoALI) to support its efforts with boosting sector productivity, quality and skill development. The technical assistance program is supported by the Department of Foreign Affairs and Trade of Australia, the Department for International Development of the United Kingdom and the Government of Japan.
The country’s agricultural sector is a key pillar of the economy and provides employment to about 53 percent of the labor force and is a source of livelihood for about 70 percent of the rural population. Through this agreement, IFC’s technical assistance will support the government’s objective of increasing the productivity, market access and competitiveness of the agricultural sector by improving the provision of quality inputs to farmers. As a driver of growth and innovation, the private sector will play a significant role in assuring quality seeds, fertilizer and crop protection products reach farmers efficiently. A strong balance between efficient markets and effective regulation is needed along with an improved way of working together for the government and private sector.
“IFC’s emphasis on improving the use of agricultural inputs and strengthening quality standards of agricultural products is aligned with MoALI’s mission. I am confident that this project will be supportive to our agriculture sector development and fulfill our vision for the future,” said Dr. Aung Thu, Minister of Agriculture, Livestock and Irrigation.
IFC will also assist with establishing quality standards for key export commodities, such as rice, and local food processing, while helping farmers to develop skills related to the use of agricultural inputs and improved quality standards. In July, IFC and MoALI held a one-day workshop in Nyuang Shwe, which brought together over 200 tomato farmers to discuss Good Agricultural Practices and the importance of improving and reducing the use of chemicals on their floating farms to protect Inle Lake. Read more...
Premier Foods and Mondelēz International extends Cadbury cake Partnership
Premier Foods announces it has completed the signing of a strategic global partnership with Mondelēz International to renew the Company’s long-standing licence to produce and market Cadbury branded cake and ambient dessert products.
The key terms of partnership includes:
The new partnership is effective from 1 September 2017 and will run until 2022, with an option for the Company to extend this to 2025, subject to meeting certain performance criteria.
Total number of licenced countries expands to 46 (previously 10 countries) and now includes South Africa, Canada, Japan, China and India, amongst others.
otential to use the full range of Cadbury brands in ambient cake such as Flake, Crunchie, Caramel and Marvellous Creations in addition to the Oreo brand.
Gavin Darby, Chief Executive Officer, Premier Foods, said:
“Building on a relationship which now spans over 30 years, we are delighted to have completed the signing of this new strategic global partnership with Mondelēz International, and we look forward to working with them in years to come. We are particularly pleased about the expanded scope of geographies and brands, given the opportunity this provides us to further accelerate the growth of Premier Food’s International Business”. Read more
Grupo Bimbo, a multinational company of Mexican origin, placed the first stone of its new Metropolitan Distribution Center, located in the Azcapotzalco Delegation of Mexico City. It aims to increase the logistics capacity of the company and improve productivity and distribution efficiency.
The event was attended by the Head of Government of Mexico City, Dr. Miguel Angel Mancera; the Secretary of Economic Development, Mtro. Solomon Chertorivski; and the Deputy Chief of Azcapotzalco, Dr. Pablo Moctezuma; as well as Mr. Daniel Servitje, President and CEO of Grupo Bimbo; Mr. Javier González Franco, Deputy General Manager of Grupo Bimbo and Mr. Miguel Ángel Espinoza, General Manager of Bimbo Mexico. Also present were the Secretary General of the National Executive Committee of the National Syndicate of Workers, Bakers, Food, Transportation and Trade, Similar and Related of the Mexican Republic, C. Gerardo Cortés García, and the Federal Deputy for District VIII, Dr Vidal Llerenas.
With an investment of 2,300 million pesos, the Metropolitan Distribution Center of Grupo Bimbo will operate with the latest technology in automation and inventory control, to supply sales centers and routes that serve more than 200 thousand customers, its products to the families of the Megalopolis, in a more efficient and sustainable way.
Thus, Grupo Bimbo will launch the largest and most modern Distribution Center in the baking industry in the American continent, which reaffirms its vocation for constant innovation.
"In Grupo Bimbo we bet on our country and Mexico City; this is where Bimbo was born more than 70 years ago and grew into a leading company in the world , "said Daniel Servitje, President and CEO of Grupo Bimbo. Read more...
Bimbo Group Invests $129 mn In Its Distribution Center In Mexico
Eagle Foods Announces Acquisition of Popcorn, Indiana
Eagle Foods announced the closing of its acquisition of Popcorn, Indiana, the maker of the well-known ready-to-eat ("RTE") popcorn products, as part of the Company's continued initiative to increase its snacks portfolio.
Popcorn, Indiana is one of the leading brands in the Ready-to-Eat (RTE) popcorn category, with a wide array of unique flavors and product offerings, including classic Kettlecorn and indulgent Black & White Drizzlecorn.
Popcorn, Indianastrategically complements Eagle Foods' G.H. Cretors brand and private label popcorn offerings, which include The Mix, a 50/50 caramel and cheese product. The acquisition will also increase Eagle Foods' scale and importance in the high growth RTE popcorn category, which has been growing at 5-6% annually. This growth is significantly faster than the broader snacking category, as consumers' desire for clean label, flavor forward, better-for-you-options continues to spur growth.
In addition to its growing snack platform, Eagle Foods has a significant presence within the baking aisle. Eagle Foods is a leading manufacturer of canned milk, which includes the category branded leader, Eagle Brand Sweetened Condensed Milk. In addition, the Company offers a portfolio of canned milk brands, including PET Evaporated Milk, Magnolia, Milnot, and others. Within canned milk, the Company also has a significant presence in private label. Read more...
G-III Apparel Group, Announces JV for DKNY and Donna Karan in China
G-III Apparel Group, Ltd., a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands, announced that it was partnering with Fred Gehring’s investment fund, Amlon Capital BV (“Amlon”), to produce and market women’s and men’s apparel and accessories pursuant to a long term license for DKNY and Donna Karan in the People’s Republic of China, including Macau, Hong Kong and Taiwan.
The joint venture, of which G-III will own 49% and Amlon the balance, will be funded with $25 million of equity that will be used to strengthen the DKNY and Donna Karan brands and accelerate growth of the business in the region. As of January 1, 2018, this joint venture will be the exclusive seller of the brands in the territory.
Fred Gehring, former Tommy Hilfiger Chairman and Chief Executive Officer and former PVH Vice Chairman, will be Chairman of the joint venture and Steve Shen, former Chief Executive Officer of Tommy Hilfiger China, will be the Chief Executive Officer of the joint venture.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III, said, “In our industry, Fred has no peer and his tenure at Tommy Hilfiger and PVH is a testament to that. He is a great partner with us on the Karl Lagerfeld brand. We are excited to extend this strong partnership and work with him and his team on growing the DKNY and Donna Karan brands in China. Steve’s track record in China is outstanding. We are looking forward to collaborating with these accomplished retail industry veterans to aggressively grow our business in the greater China region, which is a major strategic opportunity for us.” Read more...
DSW Inc., a leading branded footwear and accessories retailer, is pleased to announce a new DSW in Evergreen Park. The shoe destination is located at:Evergreen Plaza, 9690 S.,estern,Space 9690, Evergreen Park, IL 60805
The new Designer Shoe Warehouse will be stocked with a large assortment of brand name and designer shoes and accessories arranged in a convenient, self-service experience. For women, sneakers, athletic shoes, boots, and pumps line the aisles. For men, oxfords, boots, sneakers, and athletic shoes are available in many brands and styles. Customers can find an assortment of styles for kids, like sneakers, dress shoes, and boots from their favorite brands. The new Designer Shoe Warehouse location will carry an impressive assortment of men's, women's and kid's accessories like bags, scarves, jewelry, socks, and more.
Customers will enjoy the ease and convenience of shopping in an environment where associates are always ready to assist in finding more styles, sizes, and colors. For those who prefer to shop at home, customers can now order online from dsw.com and use In-Store Pick-up to get their shoes quickly. Customers can always access the full assortment digitally through dsw.com. Customers who join the DSW Rewards Program enjoy more opportunities to earn great benefits, including bonus points, birthday offers, early shopping access and more. Read more...
Designer Shoe Warehouse Opens in Evergreen Park, IL.
Iron ore industry makes comeback in 2016 : UNCTAD Report
Despite soft Chinese consumption and low prices for most of the year, a late surge meant the iron ore industry saw gains in production and exports.
The iron ore industry saw a marked improvement last year after the slower growth, lower prices and squeezed profit margins suffered in 2015, according to the new UNCTAD Iron Ore Market Report.
The report shows the key indicators of demand and supply, seaborne trade and price, all made gains through the year and says the market outlook is steady.
“The market for base metals such as iron ore is a yardstick for the global economy, and in recent years it has fluctuated closely with the state of emerging and developing countries' economies,” said Ms. Yanchun Zhang, Chief of UNCTAD’s Commodity Policy Implementation and Outreach Section.
“The report’s comprehensive analysis of the global iron ore market will be useful for both professionals interested in the iron ore market but also for developing economies with huge needs to import the metal for domestic industrial production.”
Although Chinese consumption remained relatively low, and prices did not improve for much of 2016, the market started to improve late in the year, with prices exceeding US$80/dry metric ton (dmt in December 2016. Read more...
13 F, Gopala Towers, 25 Rajendra Place
New Delhi - 110008, India
GlobalFDI.net portal is designed to aid professionals from the Infrastructure, Healthcare, IT & BPM, Food, Textiles, Engineeering, Tourism, and construction industry in their investment process (cross border investment, mergers & acquisitions, greenfield and brownfield expansion projects).
FOREIGN DIRECT INVESTMENTS AND MERGER & ACQUISITIONS