PepsiCo to acquire Bare Snacks
Civica acquires master data management company VisionWare
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
WellCare to acquire Meridian
for US$ 2.5 bn
ROAR Logistics has acquired Integra Logistics Services
28 May - 02 June 2018
Alibaba and Cainiao will invest
US$ 1.4 bn in ZTO Express
The first Grand Hyatt hotel to open in the Abu Dhabi, UAE
ABB Technology Ventures invests in Indian food industry startup
SoftBank Vision Fund to invest
US$ 2.2 bn in GM Cruise
General Motors announced that the SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC, further strengthening the company’s plans to commercialize AV technology at large scale. GM will also invest $1.1 billion in GM Cruise upon closing of the transaction.
The SoftBank Vision Fund investment will be made in two tranches. At the closing of the transaction, the Vision Fund will invest the first tranche of $900 million. At the time that Cruise AVs are ready for commercial deployment, the Vision Fund will complete the second tranche of $1.35 billion, subject to regulatory approval. Together, this will result in the SoftBank Vision Fund owning a 19.6-percent equity stake in GM Cruise and will afford GM increased flexibility with respect to capital allocation.
The GM and SoftBank Vision Fund investments are expected to provide the capital necessary to reach commercialization at scale beginning in 2019.
SoftBank Vision Fund to invest US$ 2.2 billion in
Read article on globalfdi.net
Huntsman to build new Polyurethanes Systems House in Dubai
Huntsman Corporation announced plans to build a new polyurethanes systems house in Dubai. Located within the Jebel Ali Free Trade Zone (JAFZA), the new facility will strengthen Huntsman's differentiated downstream capabilities in the heart of the Middle East.
Targeted for completion by the second half of 2019, Huntsman's investment will increase the company's systems production capacity in the region and add a new dimension to its polyester polyol capabilities. The Dubai systems house will complement the company's two existing systems houses in the Middle East, in Turkey(Huntsman EMA) and Saudi Arabia (HAPC - a joint venture with the BCI Group of Companies), forming three strong pillars for growth.
Tony Hankins, President Huntsman's Polyurethanes division, said: "This is a bold and timely investment, which will serve as a strategic platform to expand our business in the Middle East and North Africa and build our market leading position. It represents the next step in our plan to strengthen our downstream network. We now have 30 facilities worldwide, which provide innovative solutions in close proximity to our customers."
VLET Holdings S. a. r. l., a subsidiary of Abris CEE Mid-Market III Fund LP, a private equity fund managed by Abris Capital Partners Ltd., acquired a majority stake in Velvet CARE Sp. z o.o. This transaction has also been approved by Poland’s Office of Competition and Consumer Protection (UOKiK).
Velvet CARE is Poland’s leading manufacturer of brand-name, paper-based personal care products (including tissues, toilet paper and kitchen paper towels) and the owner of the highly-regarded Velvet brand in Poland. Velvet CARE can boast of having more than 20 years of success on the Polish market, with brand recognition recorded at an impressive 96% among Poles.
The process of passing control over Velvet CARE to the new majority shareholder has now been completed. The change will facilitate further acceleration of the company’s rapid growth, including international expansion in the CEE region. Velvet CARE was established in August 2013, although its origins date from 1897. In that year the Paper Mill in Klucze was established (in the vicinity of Olkusz) and the company’s main manufacturing facility has been located there for over 120 years. The Velvet name, the brand underpinning its paper-based hygiene products, was launched in 1997 on the 100th anniversary of establishing the company. Today, the Velvet brand has grown to become the leader among paper-based categories and the most popular tissue brand in Poland.
Abris finalizes the acquisition of Velvet CARE
Partners Group will invest in development of renewable energy platform in Australia
Partners Group, the global private markets investment manager, has agreed to invest a total of AUD 700 million in the development of a large-scale renewable energy platform in Australia on behalf of its clients. The platform, which will be known locally as Grassroots Renewable Energy Platform ("Grassroots"), will be seeded with the 270MW Sapphire Wind Farm project and will in addition construct over 1.3GW of new wind power, solar power and battery storage assets across Australia within the next four years. To realize the Grassroots platform, Partners Group has teamed with local developer CWP Renewables ("CWP"), also an investor in the project.
Partners Group first joined forces with CWP in 2016 when it announced an AUD 250 million investment into Sapphire Wind Farm, a 270MW development project located in the state of New South Wales. Sapphire Wind Farm, which is due to be completed by October 2018, will generate enough energy to power 110,000 Australian households and offset over 600,000 tonnes of carbon emissions during every year of operation. There are also plans to launch a community co-investment project at Sapphire Wind Farm in late 2018, which will enable members of the neighboring community to participate in the financial benefits from the sale of renewable electricity.
The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) and the leading French company Schneider Electric have signed an agreement on joint investments in energy efficiency field.
The agreement sets forth the framework for a large-scale cooperation program between RDIF and Schneider Electric to develop and implement modern energy efficiency technologies in Russia. The parties are considering implementation of the program through a joint venture, which will be responsible for financing energy-saving projects developed for businesses in the Russian Federation.
The venture’s business model does not require any investment or additional costs from potential clients. The pay-back of the joint venture investment will be achieved exclusively out of the additional profit generated by cost savings from the energy-efficiency technologies implementation.
RDIF with Schneider Electric invest in Energy Effiency Technologies
airBaltic orders up to 60 Bombardier CS300 Aircraft
for US$ 2.9 billion
Bombardier Commercial Aircraft and Air Baltic Corporation AS (airBaltic) announced that the parties have executed a firm purchase agreement for the sale and purchase of 30 CS300 aircraft with options and purchase rights for an additional 30 aircraft of the same type.
Based on the list price of the CS300 aircraft, the firm order is valued at approximately US$ 2.9 billion. This amount would increase to nearly US$5.9 billion should all 15 options and 15 purchase rights be exercised.
With this order, airBaltic becomes the largest European C Series customer and the second largest customer worldwide with 50 aircraft on firm order. The airline’s new business plan relies on significant expansion of routes from all three Baltic countries – Latvia, Estonia and Lithuania.
Bombardier announced that it has signed a letter of intent (LOI) for up to 18 Global 6500 and Global 7500 business jets with HK Bellawings Jet Limited, a leading aircraft management company based in Hong Kong. If all firm orders and options are exercised, the transaction would be valued at approximately $1.14 billion U.S. based on 2018 list prices.
The recently launched Global 6500 jet and the renamed Global 7500 aircraft set the standard with the longest range and the largest cabins in their respective classes—all while offering Bombardier’s signature smooth ride.
The Global 6500 aircraft joins the high-performing Global aircraft family, offering additional range and speed, as well as highly favorable operating costs versus smaller competing aircraft with less range. The Global 6500 can connect Hong Kong or Singapore with London.
Bombardier signs LoI with HK Bellawings Jet for 18 Global 6500 and Global 7500 Aircraft
Honda Aircraft Company announced that it has expanded sales of the HondaJet to the Middle East with the appointment of Jetex Flight Support as an authorized sales representative based in Dubai, United Arab Emirates. Honda Aircraft made the announcement at Palexpo during the 2018 European Business Aviation Convention and Exhibition (EBACE) in Geneva, Switzerland, where the HondaJet Elite is making its world debut. Jetex will represent Honda Aircraft’s sales in the United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar, Lebanon, Pakistan, Jordan, Turkey and Kuwait.
“With Honda’s brand strength and recognition in the Middle East, we have received tremendous interest in the HondaJet Elite. We are proud to appoint Jetex Flight Support as HondaJet Middle East to provide our customers with a committed sales team in the region for the world’s most advanced very light jet.” said Honda Aircraft President and CEO Michimasa Fujino.
Honda Aircraft has established a worldwide dealer and authorized sales network to provide unsurpassed service and support for their customers. The authorized network spans territories in North America, Latin America, Europe and Asia. The HondaJet Elite is type certified by the United States Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA). The aircraft has inherited the aeronautical breakthroughs developed by Honda Aircraft and is the most efficient, quietest, fastest, furthest and highest-flying aircraft in its category.
Honda Aircraft Company expands sales to the
Alibaba and Cainiao will invest US$ 1.38 billion in
Alibaba Group Holding Limited and its logistic arm Cainiao Network and ZTO Express (Cayman) Inc., a leading and fast-growing express delivery company in China, announced a strategic agreement in which investors led by Alibaba and Cainiao will invest US$1.38 billion in ZTO in exchange for an approximately 10% equity stake in the company.
The investment will see Cainiao and ZTO deepen their collaboration in the transformation of China's logistics industry amid the growth of New Retail, a concept developed by Alibaba that promotes seamless integration between online and offline commerce. The investment will further support both Cainiao and ZTO's focus on building up first and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technology-driven smart solutions.
Daniel Zhang, CEO of Alibaba Group and Chairman of Cainiao Network, said: "ZTO has been an important partner to Alibaba Group and Cainiao Network in the development of the new digital economy. The continuing expansion of New Retail is catalyzing new opportunities and demands in logistics. This strategic investment will strengthen synergies across our mutual businesses to create new value and improved experience for merchants and consumers."
ROAR Logistics has acquired Integra Logistics Services, LLC.
ROAR Logistics, announced that is has acquired Integra Logistics Services, LLC. With this acquisition, ROAR further extends its reach across North America. The acquisition strategically positions ROAR with offices in 8 major markets and over 120 Associates.
Founded in 2003, Integra has built an extensive offering of transportation services and logistics solutions for its clients throughout North America, transporting a wide range of packaged materials and finished goods via intermodal and highway transportation services. Integra will integrate its corporate headquarters and technology center in Houston, Texas, and full-service sales and support operations in Dallas, TX and Chicago, IL into the ROAR network. Integra Chairman Fred Beasley has joined ROAR in an executive capacity as Chief Commerce Officer.
As a subsidiary of Rich Products Corporation, ROAR entered the transportation industry in 2003 as an Intermodal Marketing Company, approaching the transportation industry from the perspective of a shipper rather than that of a transportation service provider. ROAR rapidly expanded its service offering to include highway transportation, international freight forwarding, and US customs brokerage services. ROAR was ranked #67 by Transport Topics in their 2018 “Top 100 Freight Brokerage Firms” list.
KT expands in Africa with success in Rwanda
KT Corp., Korea’s largest telecommunications company, said it will expand cooperation with African countries in information and communications technology, based on its successful nationwide LTE network in Rwanda, a first in Africa.
KT, formerly known as Korea Telecom, disclosed its ICT support plans for African countries at the 2018 Korea-Africa Economic Cooperation (KOAFEC) Conference and the 53rd African Development Bank Annual Meetings, held on May 21–25, at BEXCO in Busan, South Korea. Business projects and success models in Africa were introduced at the KOAFEC’s Public-Private Partnership (PPP) Forum.
As a panelist at the PPP Forum, Kim Hyung-Joon, head of the KT Global Business Unit, explained the company’s nationwide 4G LTE network project in Rwanda, which was completed this month in cooperation with the Rwandan government, and emphasized the importance of ICT infrastructure for economic development in Africa.
The Civica Group, an international market leader in business-critical software applications, digital solutions and managed services, has announced that Civica UK Limited, the company's wholly owned subsidiary, has acquired master data management company VisionWare Limited.
Based in Glasgow, Scotland, and with operations in the UK and the US, VisionWare is a provider of innovative master data management (MDM) solutions for local, regional and state government and healthcare. Its products and services deliver to organizations a complete, single view of their customers, enabling more efficient data-driven processes and intelligent automation. The company has been recognized as an innovator by Bloor Research and included in the Gartner Magic Quadrant for MDM of customer data solutions.
In keeping with Group strategy, VisionWare adds customer-relevant technology and expertise which is complementary across Civica's leading family of business-critical software and services for the public sector. It also builds on the recent launch of Civica's Digital division and strengthens the company's capability to accelerate transformation of public services through digital technology and automation.
Synchronoss Technologies completes the acquisition of honeybee
Synchronoss Technologies, Inc., a global leader and innovator of cloud, messaging, digital and IoT products and platforms, announced it has completed the acquisition of the honeybee software business from UK-based multinational electrical and telecommunications retailer and services company Dixons Carphone plc. Financial terms of the deal were not disclosed.
honeybee is a proven, market-leading digital experience platform that enables companies to design and launch optimized omni-channel customer journeys for their end users. honeybee supports telecommunications and other technology companies with fully interactive CRM capabilities for point-of-sale, call center and online customer interactions. The honeybee approach is to simplify the process, allowing customers to start and stop buying journeys at any point in the process while giving agents and customer care representatives real-time data transparency. Its differentiated, simplistic approach to interfacing with legacy systems of record makes it easy to implement quickly. It also manages constantly changing offers and other factors, giving it the ability to design and launch frictionless, simple end-user experiences for use across all customer engagement channels.
PepsiCo, Inc. announced it has entered into a definitive agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a U.S.-based maker of baked fruit and vegetable snacks. The transaction will expand the company's snacking portfolio and further deliver on its Performance with Purpose vision to offer consumers more positive nutrition options.
"For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, while also reducing added sugars, salt, and saturated fat. Bare Snacks fits perfectly within that vision," said Indra Nooyi, chairman and chief executive officer of PepsiCo. "The Bare Snacks leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots, and I couldn't be more excited to welcome Bare Snacks to the PepsiCo family."
Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington, that began selling packaged baked apple chips in local farmers' markets. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks. It has recently expanded into vegetable chips and offers the industry's broadest assortment of baked crunchy fruit and vegetable chips. Bare products are made from simple ingredients that are baked, not fried. They are Non GMO Project verified, feature clean labels and are sold online and in natural and conventional retail channels across the United States.
PepsiCo to acquire
Saputo Inc. to acquire the activities of Shepherd Gourmet Dairy Inc.
Saputo Inc. announces that it has entered into an agreement to acquire the activities of Shepherd Gourmet Dairy (Ontario) Inc.. Its activities are conducted at one manufacturing facility located in St. Marys, Ontario (Canada). The business employs approximately 90 people.
The purchase price of CDN$100 million, on a debt-free-basis, will be paid in cash from cash on hand and available credit facilities.
Shepherd Gourmet manufactures, markets and distributes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style yogurt in Canada. For the twelve-month period ended on April 30, 2018, Shepherd Gourmet generated revenues of approximately CDN$57 million.
HOCHDORF takes over traditional Swiss brand Bimbosan
The HOCHDORF Group has signed an agreement to acquire Bimbosan AG in Welschenrohr, Switzerland. With the takeover of this long-established Swiss infant nutrition company, HOCHDORF is moving another step closer to the end consumer in the area of baby care.
The HOCHDORF Group has produced infant formula since 1908. It manufactured products mainly for the Swiss market until 2006, operating essentially as a private-label producer until the end of 2016, when it acquired a 51% share in the Pharmalys Group in its first step towards the end consumer. The 100% acquisition of traditional Swiss company Bimbosan AG is another important move in this direction.
Business relationship since the 1970s
HOCHDORF Swiss Nutrition Ltd has been producing a variety of infant food products for Bimbosan AG since the 1970s. Among its joint projects, it developed the first infant formula in the world without palm oil, which was launched in Switzerland by Bimbosan in 2010. “Bimbosan is the brand when it comes to infant formula in Switzerland,” says Dr Thomas Eisenring, HOCHDORF Group CEO. “With its Swiss origins, long-established and positive presence and a focus on organic raw materials, the company was an excellent match for the HOCHDORF Group and its expansion strategy,” he explained.
Wild Calling! Pet Foods Acquired By Barkstrong
California-based Barkstrong, LLC has completed its acquisition of Wild Calling! Pet Foods and through a distribution partnership with several key regional pet specialty distributors is re-releasing their popular all-natural pet food nationally.
Initially founded in 2012 by the Petersen family as Natural Pet Marketplace, Wild Calling prides itself in pets before profits. "We want to make money," said Tim Petersen, "but we want to do it the right way. We want to know we're giving our four footed friends the best food we're capable of creating." Wild Calling provides free-range culture and high quality nutritional products that are all natural and grain free.
Known for their exotic lines of kangaroo and alligator, the currently available product line includes, Western Plains Stampede Turkey GF, Western Plains Stampede Rabbit + Sweet Potato, Western Plains Turkey + Sweet Potato, Xotic Rabbit, Chicken Coop, Western Plains Beef, Country Best Pork, Shepherds Choice Lamb, Rainbow River Salmon, Mountain Lake Duck, Turkey Trot, Cabin Fever Chicken, Trot-N-Tommy Turkey, and Triple Delight.
China-Russia Nutrition Forum was successfully held in Moscow, taking "World Digestive Health Day" as the theme. The forum was jointly held by Chinese Nutrition Society (CNS), the Federal Research Centre of Nutrition, Biotechnology and Food Safety, Russia (FRC) and in corporation with Mengniu Danone Joint Venture.
This is the first time China and Russia have an official exchange on nutrition issues, reaching consensus in the importance of consumer education of active probiotic diary drinks. Based on their academic interaction, CNS and FRC signed a Memorandum of Understanding on strategic cooperation. They have a common goal to jointly enhance collaboration in the field of nutrition and health and boost talent sourcing in dairy technology. To achieve this, they will facilitate bilateral trade processes and dairy industry development by providing guidance and support for laws and regulations for seamless trade in dairy products in both countries.
As the society's overall consumption upgrades, health education matters more than material gains. Yang Yuexin, CNS Director commented, "Chinese people are having substandard daily intake of dairy, especially active probiotic drinks. To educate the public the health benefits of active probiotic is very important."
Nutrition Society of China and Russia jointly promote Dairy Industry development
Strategic collaboration with ABB will streamline the dairy supply chain and drive operational efficiency for ABB’s food & beverage customers
ABB has invested in Stellapps Technologies through its venture capital unit, ABB Technology Ventures (ATV). The Series B investment round was led by IndusAge Partners and included new investors Qualcomm Ventures and the Bill & Melinda Gates Foundation (through its program-related investment team in London). Stellapps is India’s first end-to-end dairy supply chain solutions company, in use by over 750,000 farmers daily. Founded in 2011, the Bangalore-based startup is building automated tools leveraging the Internet of Things (IoT) and advanced analytics to improve milk production and quality for the country's dairy farms, collection centers and processors. This is ATV’s first investment in India.
Avara Pharmaceutical acquires major sterile manufacturing facility in Canada
Avara Pharmaceutical Services, a world-class contract development and manufacturing organization (CDMO), announced that it has agreed to acquire the largest sterile manufacturing facility for injectable medicines in Canada from a leading global pharmaceutical company, as part of a continuing expansion of its global footprint.
The proposed acquisition of Novartis Technical Operations' sterile manufacturing facility and the adjacent Sandoz Development Center located on the Sandoz Canada campus in Boucherville, Quebec, is expected to be finalized in the next few months, following the completion of a number of closing conditions including receipt of anti-trust approvals. It follows Avara's acquisition of another sterile facility in the past year, one from Pfizer Inc. in Liscate, Italy, and one solid dose manufacturing facility from GlaxoSmithKline in Aiken, South Carolina. It will bring the number of manufacturing and development sites operated by Avara worldwide to ten: two in Canada; three in the United States, including corporate headquarters; one in Puerto Rico; one in the UK; one in Ireland; one in Italy; and one in France.
The Luye Pharma Group recently announced its acquisition of AstraZeneca's core CNS products - Seroquel and Seroquel XR. As with previous acquisitions such as Lipusu, Xuezhikang, Beixi and rivastigmine transdermal patch, the decision to acquire Seroquel and Seroquel XR was made by Luye Pharma after a full assessment of the target. The factors considered were: whether the target is a high-volume, high-margin identity product, whether its positioning is competitive, how much it can contribute to the benchmark product portfolio, and whether it can improve operational capabilities of the group or optimize the integration of the group's strategic resources.
Seroquel (immediate release quetiapine fumarate, LI) and Seroquel XR (immediate release formulation) are atypical anti-psychotic drugs with antidepressant properties. The main indications for Seroquel are the treatment of schizophrenia and bipolar disorder. Seroquel XR is also approved in some markets for major depressive disorder and generalized anxiety disorder. Due to their rapid onset of action, good tolerability, and high patient compliance, Seroquel series products are widely recognized by physicians and patients, and are now marketed in more than 80 countries around the world. with over 10 million prescriptions in total.
Luye Pharma acquires AstraZeneca's identity products, Seroquel and Seroquel XR
WellCare to acquire Meridian for US$ 2.5 billion
WellCare Health Plans, Inc. announced that it has entered into a definitive agreement to acquire Meridian Health Plan of Michigan, Inc., Meridian Health Plan of Illinois, Inc., and MeridianRx, a pharmacy benefit manager for $2.5 billion in cash. The transaction is expected to close by the end of 2018, subject to customary closing conditions, including regulatory approvals.
Meridian expects to generate more than $4.3 billion in total revenue in 2018. As a result of this transaction, WellCare will diversify its Medicaid portfolio through the addition of Michigan, where Meridian has the No. 1 Medicaid market position; deepen its Medicaid business in Illinois; and acquire an integrated PBM platform.
Meridian is one of the largest privately held, for-profit managed care organizations in the U.S. and serves approximately 1.1 million Medicaid, Medicare Advantage (MA), integrated dual-eligible and Health Insurance Marketplace members as of May 1,
Aya Healthcare, the largest privately held travel nurse staffing and healthcare workforce solutions provider in the country, acquired Locums Unlimited on May 20, 2018, a locum tenens staffing company located in San Diego, Calif. The company will operate as a subsidiary of Aya Healthcare.
Locums Unlimited specializes in the nationwide placement of physicians in locum tenen and temp to perm jobs. The company brings over 25 years combined experience to the healthcare staffing community and offers top-of-the line providers to their clients.
Aya has added a significant number of locums agencies through the Aya Partner Network recently, but the acquisition of Locums Unlimited will give it direct recruiting capacity to further deliver enhanced locums services to its facility clients.
Aya Healthcare acquires Locums Unlimited
Innovation Network Corporation of Japan (INCJ) and Mitsubishi Corporation (MC) are pleased to announce their joint investment in Tavelmout Corporation (Tavelmout) through the acceptance of a third-party allocation of shares by Tavelmout. The total investment amounts to 1.7 billion yen, evenly split between INCJ and MC.
Tavelmout is a bio-venture company established by the Chitose Group in 2014. After this capital increase, INCJ and MC will join Tavelmout as new shareholders, each with 31.43% ownership of the company. Tavelmout plans to utilize the funds raised towards the construction of a new production site in Brunei.
Algae can grow by photosynthesis alone, and due to its high productivity per unit area, is attracting attention as a vital protein source. Spirulina, with a particularly high protein content (over 65% on a dry weight basis) and nutritional value, and rich in vitamins, minerals, and fibers, figures highly among those dubbed as the “big superfoods.”
INCJ and Mitsubishi Corporation to invest in Microalgae protein
New Radisson Blu hotel signed in Al Ahsa,
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of the Radisson Blu Hotel, Al Ahsa in Saudi Arabia. The Radisson Hotel Group has 40 hotels and more than 10,000 rooms in operation and under development across the Kingdom.
Radisson Blu Hotel, Al Ahsa will be situated in the city center of Al Ahsa, located 60km inland from the coast of the Arabian Gulf and 100km south east from the city of Al Khobar. The hotel will be just 14km southwest of Al Ahsa Airport, which welcomes weekly international flights, and five minutes away from Al Ahsa University – both easily accessible through the road network.
Radisson Hotel Group, one of the world’s largest and most dynamic hotel groups, has continued to expand its footprint in Vietnam with the signing of the country’s first Radisson resort, located on the paradise island of Phu Quoc.
Radisson Phu Quoc is nestled on Truong Beach, on the island’s sunset-facing west coast with its long stretches of powder-soft sand, lapped by warm turquoise seas. Complementing this tropical location, the hotel will feature 218 spacious sea-facing rooms and suites, with private balconies or terraces.
During the day, guests will be able to soak up the sun on the pristine beach, cool off in a choice of outdoor swimming pools, or simply stroll in the shade of the resort’s landscaped gardens.
Radission makes its debut into Phu Quoc, Vietnam
The first Grand Hyatt Hotel to open in the UAE capital city, Abu Dhabi
Hyatt Hotels Corporation announced the opening of Grand Hyatt Abu Dhabi Hotel & Residence Emirates Pearl, the first Grand Hyatt hotel to open in the United Arab Emirates’ capital city, Abu Dhabi. The luxury property combines iconic brand elements and awe-inspiring design and architecture with a central location in the capital that offers easy access to world-class shopping, dining and cultural events.
As the second Grand Hyatt hotel in the United Arab Emirates, joining Grand Hyatt Dubai, the Abu Dhabi property is a noteworthy addition to Hyatt’s steadfast growing hotel portfolio in the Middle East. The hotel is currently operating with a limited room inventory and a limited number of dining options. All other facilities, including the Grand Club, are expected to be available for guests in late 2018.
A short 35 minute drive from Abu Dhabi International Airport and the Louvre Abu Dhabi, the hotel is located along the charming Corniche, offering generous beachfront promenades and stunning landmark city views that feature famed UAE landmarks, including Emirates Palace, the Presidential Palace and The Founder’s Memorial.
The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea.
The Desert to Power programme, initiated by the Bank, aims to develop 10,000 MW of solar energy across the Sahel region. It is intended to provide solar generated electricity to 250 million people, including 90 million through off grid solutions, thereby enabling the development of agriculture and other economic activities.
The three institutions agreed that they will share ideas and resources about opportunities to make solar power available throughout the Sahel region, transforming African deserts into new sources of renewable energy.
AfDB, Green Climate Fund and Africa 50 support Desert to Power programme
IFC and Myanmar Rice Federation join hands to Boost Myanmar’s Rice Industry
IFC, a member of the World Bank Group, through a partnership with Australia, the United Kingdom and Japan, signed a memorandum of understanding (MoU) with the Myanmar Rice Federation (MRF) to support sustainable growth of Myanmar’s rice industry. The MoU aims to accelerate changes in the industry through development, improvement, and promotion of milled rice standards and paddy grading system, which will lead to improved rice production, increased export volumes, and better livelihoods for millions of farmers.
Rice is Myanmar’s most important agricultural sector, accounting for 40 percent of gross agricultural output and 13 percent of overall gross domestic product. Myanmar exported more than 3 million metric tons of rice and broken rice, worth more than $1 billion to 57 countries, in 2017/18 financial year. This is the highest level of rice exported over the past 70 years.
Consequently, to further unlock the rice industry’s potential, in support of the Myanmar government’s continuing efforts, IFC will assist MRF to improve the country’s current milled rice standards and paddy grading system. It will further promote adoption among the nation’s rice millers and exporters in order to transform the rice standards in a sustainable manner.
GlobalFDI.net portal is designed to aid professionals from the Infrastructure, Healthcare, IT & BPM, Food, Textiles, Engineering, Tourism, and construction industry in their investment process (cross border investment, mergers & acquisitions, greenfield and brownfield expansion projects).
13 F, Gopala Towers, 25 Rajendra Place
New Delhi - 110008, India,