Latest news with #industrialtransformation
Yahoo
2 days ago
- Business
- Yahoo
BlackRock's Marchioni on European Assets, CapEx
BlackRock's Ursula Marchioni discusses international investors' appetite for European assets and the outlook for corporate expenditure plans amid tariffs and trade uncertainty. "We remain positive on the US because, again, that AI industrial transformation for us continues to play out," she says. Speaking on Bloomberg Television, Marchioni gives an overview of key themes to watch for after the summer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
BlackRock's Marchioni on European Assets, CapEx
BlackRock's Ursula Marchioni discusses international investors' appetite for European assets and the outlook for corporate expenditure plans amid tariffs and trade uncertainty. "We remain positive on the US because, again, that AI industrial transformation for us continues to play out," she says. Speaking on Bloomberg Television, Marchioni gives an overview of key themes to watch for after the summer. (Source: Bloomberg)
Zawya
16-07-2025
- Business
- Zawya
Quest Global joins UAE's NextGen FDI Initiative to support local engineering research and development
HE Dr. Thani Al Zeyoudi: 'By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, Quest Global's cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent.' Abu Dhabi, UAE: The UAE Ministry of Foreign Trade has announced that Quest Global, a Singapore-based engineering research and development services company, will establish a presence in the United Arab Emirates through the NextGen FDI initiative – a pioneering program that seeks to attract high-impact companies from around the world through a suite of market-entry fundamentals such as rapid incorporation and fast-track issuance. Quest Global will now open a number of client-centric, high-value engineering centers (HVECs) throughout the UAE, which will offer support to businesses in sectors such as energy, defense, and advanced manufacturing. Quest Global's engineering expertise, coupled with AI and digital technologies, will help transform companies by enhancing operations, fostering innovation and optimizing supply-chains. His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Quest Global's entry into the UAE market, which he says underlines the country's status as a platform for growth: 'The NextGen FDI initiative was created to attract forward-thinking, ambitious enterprises such as Quest Global to the UAE. By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, their cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent. Quest Global's participation in the initiative also helps reinforce the UAE's status as an economic hub that facilitates expansion into regional and global markets.' Robert Vatter, Executive President Quest Global says that the NextGen FDI initiative opens up important opportunities for the company: 'Quest Global serves as a strategic ER&D partner to large global companies across energy, aerospace and defence, and other industries. By facilitating the establishment of high value engineering centers in the UAE, the NextGen FDI Initiative will enable us to extend this support to companies based in the UAE and the wider GCC – helping them realize their business ambitions, develop their talent and accelerate their contribution to the development a knowledge economy.' Since its launch in 2022, the NextGen FDI Initiative has enabled a range of pioneering companies establish a footprint in the UAE, helping to develop clusters of excellence in future-focused sectors such as artificial intelligence, robotics, alternative energy and storage, hybrid aviation, and precision fermentation. Together, they are supporting the UAE's transition to a knowledge- and innovation-based economy.
Asharq Al-Awsat
10-07-2025
- Business
- Asharq Al-Awsat
From Russia, Alkhorayef Says Saudi Aims to Lead in Future Tech
Saudi Arabia is leading a sweeping industrial transformation aimed at reshaping the national economy and securing a leading position in advanced sectors, the kingdom's Minister of Industry and Mineral Resources Bandar Alkhorayef said. Speaking at the main session of the INNOPROM 2025 international industry fair in Yekaterinburg, Russia, Alkhorayef highlighted Saudi Arabia's early adoption of future technologies and its efforts to boost production capabilities within global value chains. He outlined that the National Industrial Strategy, launched in 2022, serves as the operational framework for the kingdom's industrial vision. The strategy focuses on three integrated pillars targeting key industrial groups. The first pillar covers industries related to national security — including food, pharmaceuticals, water, and military sectors — which Saudi Arabia aims to localize through active partnerships. Alkhorayef said the second pillar focuses on industries that leverage Saudi Arabia's relative advantages, including abundant natural resources such as oil, gas, and minerals, as well as its strategic geographic location that positions the kingdom as a global logistics hub. Key sectors under this pillar include advanced petrochemicals, mining, and value-added manufacturing. The third pillar targets future-oriented and emerging technologies. Saudi Arabia aims to strengthen its position in the early adoption of cutting-edge technologies through clear incentive policies. These include support for research and development, applications of the Fourth Industrial Revolution, artificial intelligence, and 3D printing. Complementary measures such as the local content policy prioritize domestic products and bolster reliance on national capabilities, he added. Alkhorayef also outlined recent developments in the kingdom's mining sector, a key focus of Vision 2030. He said efforts have followed three main tracks, starting with expanded geological exploration that boosted the estimated value of Saudi mineral reserves from $1.3 trillion to $2.5 trillion. These reserves include strategic minerals such as phosphate and copper, with ongoing attention to social and environmental considerations in mining areas. The second track involves strengthening international partnerships through the annual Riyadh International Mining Conference, which has evolved into a global platform addressing challenges related to securing critical raw materials for the energy transition. The conference fosters coordination among governments, private sector players, and academic and research institutions to enhance the mining sector's efficiency and sustainability. Alkhorayef expressed gratitude for the Russian government's contributions to the event. Highlighting strong Saudi-Russian ties, he said there are promising opportunities to deepen cooperation, particularly given the alignment between Saudi Vision 2030 and Russia's 2030 national development goals in economic growth, digital transformation, and technological leadership. Alkhorayef noted that the launch of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi commercial attaché office in Moscow in 2022 marked key milestones in advancing the partnership. He pointed to significant growth in bilateral trade, which surged from $491 million in 2016 to over $3.28 billion in 2024.
Zawya
13-06-2025
- Business
- Zawya
Green hydrogen can 'reposition' Africa within global value chains
The burgeoning green hydrogen industry presents an opportunity for Africa to enable structural change and reposition the continent. This is according to the Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa. The minister delivered remarks at the African Green Hydrogen Summit, which is underway in Cape Town. '(Green) hydrogen must be understood not merely as a clean fuel, but as a strategic enabler of Africa's structural transformation. It holds the potential to reposition the continent within global value chains, not as an exporter of raw materials but as a competitive industrial actor. Harnessed strategically, it can anchor new industrial ecosystems, from green steel and fertilisers to sustainable mobility and synthetic fuels. 'These are not abstract possibilities -- they are within reach, provided we design policy frameworks that localise value, deepen intra-African trade, and direct investment flows towards infrastructure, skills, and technology transfer that serve the interests of the continent,' Ramokgopa said on Thursday, 12 June 2025. The industry presents a lucrative opportunity for the continent and boasts a global potential of at least $300bn in global exports over the next three decades. Africa holds minerals and metals that are critical for the industry, placing the continent at the heart of this new frontier. 'More fundamentally, green hydrogen offers an opportunity to reverse the logic of dependency that has historically defined Africa's insertion into the global economy. Instead of reinforcing extractive patterns, Africa can lead with an agenda of beneficiation, regional integration, and sovereign industrial development. 'This will require that we reject siloed national approaches in favour of coordinated regional frameworks, leveraging platforms like the African Continental Free Trade Area (AfCFTA), the Programme for Infrastructure Development in Africa (PIDA) and, most crucially, Agenda 2063. 'These frameworks offer the institutional scaffolding for a common energy market and harmonised regulatory regimes that can attract patient, long-term capital,' Ramokgopa said. The minister implored African leaders at the summit to be 'unapologetic' in taking their place at the forefront of the green hydrogen global industry. 'We must also be unapologetic in demanding a fair place at the green negotiating table. Africa's role in the global energy transition cannot be one of accommodation. It must be one of agency. Our narrative must be led by African voices, grounded in African realities, and committed to African futures. 'As the world seeks new energy alliances and supply chains, Africa must shape its energy destiny through solidarity, strategy and statecraft, turning the promise of green hydrogen into a pillar of continental prosperity,' he insisted. The summit also launched the Africa Green Hydrogen Report – a document thrashing out the continent's green hydrogen potential, which brings together the full breadth of the continent's technical readiness. 'This is not just a theoretical compilation; it is a technical blueprint for scaled project execution. Its message is unequivocal: Africa is not short of knowledge. Africa is ready to move from pilot to pipeline, from strategy to scale. 'But let us be clear. The window for Africa to shape the rules of this emerging market is narrowing. Other regions are moving fast, with public subsidies, regulatory incentives, and long-term offtake strategies. If we delay, we risk importing technologies, importing skills, and once again exporting unprocessed potential. 'So, the real work of this summit is to forge clarity on the scale of our ambition, the credibility of our plans, and the coordination of our actions. Let us begin that work today, with urgency, with unity, and with a shared conviction that Africa's future is not on the periphery of the global green economy, but firmly at its centre,' he said. According to the African Green Hydrogen Alliance (AGHA) – which is made up of 10 African states, including South Africa – the industry has the potential to add between $66 billion and $126 billion to the Gross Domestic Product of the member countries over the next 25 years. Furthermore, some two to four million jobs could also be added during that time. 'Africa's choice is whether to be a passive site of resource extraction or a proactive architect of the green energy economy. With the right policy frameworks, investment enablers, and regional coordination, green hydrogen can and must be the backbone of a new African industrial era,' Ramokgopa said
