Roche, a Swiss pharmaceutical giant, has agreed to a US$7.1 billion deal to acquire Telavant, a biotech company that is developing a promising drug for inflammatory bowel disease (IBD). Telavant is jointly owned by Roivant and Pfizer, two of Roche’s US competitors. The deal gives Roche the exclusive rights to RVT-3101, an experimental antibody that…
TotalEnergies partners with Corio and Rise for 3GW Attentive Energy offshore wind project
PARIS, FRANCE: TotalEnergies has partnered with Corio Generation and Rise Light & Power for the joint development of the Attentive Energy offshore wind project off the coast of New York and New Jersey. The Attentive Energy project aims to develop more than 3 GW of offshore wind located 54 miles from New York State and…
Gulf International Bank Becomes a Signatory to the UN Women’s Empowerment Principles
MANAMA: Gulf International Bank B.S.C. (GIB) today announced that it has become a signatory to the Women’s Empowerment Principles (WEPs). Established by UN Women and UN Global Compact, WEPs are a set of principles offering guidance to businesses on how to advance gender equality and women’s empowerment. By joining the WEPs community, GIB continues to…
Philips Q3 results show improved operational performance, with sales increasing 11%
AMSTERDAM: Philips’ third-quarter results show improved operational performance, with sales increasing 11% to EUR 4.5 billion and adjusted EBITA increasing to EUR 457 million, or 10.2% of sales. The company’s order book remains strong, and it has raised its outlook for the full year 2023 to 6-7% comparable sales growth and an adjusted EBITA margin…
Google faces antitrust probe in Japan over web search dominance
Just after pulling out of the Web Summit, Google is under scrutiny by Japan’s competition watchdog for allegedly abusing its market power in web search services. The Japan Fair Trade Commission (JFTC) announced on Monday that it would examine if Google breached Japan’s Antimonopoly Act by paying Android phone makers to exclude rival search engines….
New Galaxy Tab A9 and A9+ tablets go on sale globally today
Samsung has announced the release of its latest budget Galaxy A series tablets, the Galaxy Tab A9 and Galaxy Tab A9+. The two tablets are designed for those who don’t want to spend a lot of money on a new tablet, but still want a good quality device with some great features. Display The Galaxy…
Beyonca, a Renault-Dongfeng EV joint venture, secures Saudi investment
Beyonca, an electric vehicle brand jointly owned by French automaker Renault and Chinese carmaker Dongfeng Motor, announced on Monday that it had received an investment from Al Faisaliah Group Holding Company, a Saudi Arabian conglomerate. The deal was signed at a ceremony in Wuhan, China, where Dongfeng Motor is based. Beyonca also signed a strategic…
Oxford University’s AI tool predicts virus variants before they emerge
A new artificial intelligence tool, called EVEscape, can forecast how viruses will mutate and evade the human immune system. Researchers from Oxford and Harvard say the tool could have predicted the Covid-19 variants that drove the pandemic. EVEscape uses a deep-learning model and biological data to estimate how likely a viral mutation is to escape…
Samsung SDI to supply batteries for Hyundai EVs in Europe
Samsung SDI, the second-largest car battery maker in South Korea, has signed a 7-year deal with Hyundai Motor Co. to provide batteries for its electric vehicles (EVs) in Europe. The deal, which was announced on Monday, will see Samsung SDI’s P6 batteries power Hyundai’s EVs from 2026 to 2032. The P6 batteries have a high-energy…
ADOR Diagnostics secures $7.5m investment
LONDON, UK: BATM Advanced Communications Limited (LSE: BVC) announced that ADOR Diagnostics Ltd, an associate company of the Group, has secured an investment of $7.5m, of which the Group is contributing $3.5m. Half of the investment is being made on the signing of the investment agreement and the remainder will be paid on the completion…
China probes iPhone-maker Foxconn over taxes and land use
China is investigating Foxconn, the world’s largest manufacturer of iPhones, over its tax payments and land use in two provinces, according to Chinese state media. The Global Times reported on Sunday that officials conducted inspections at Foxconn’s businesses in Henan and Hubei, where the Taiwan-based company employs millions of workers. Foxconn said it would cooperate…
Thrive Tribe Technologies strengthens its leadership team with three new hires
SYDNEY, AUSTRALIA: Thrive Tribe Technologies Limited (Thrive Tribe), a health and wellness platform company, has announced the appointment of three new key leaders to support its long term growth strategy. The new hires are Alana Gibbs as Head of Product, Natalie Thursfield as Head of Marketing, and Alexandra Thursfield as Head of Brand. Alana Gibbs…