The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Huawei stumps up $1 billion to support ICT developers — Huawei has used its first Huawei Developers Congress to announce its open ICT developer ecosystem strategy and a Development Enabler Plan which will make up to $1 billion available to support developers.

Israeli cyber security co illusive networks raises $22m — Israeli cyber security deceptive technology startup illusive networks has closed a $22 million Series B round of financing led by new investor New Enterprise Associates, one of the world’s largest venture capital firms.

Iran to Pay Oil Companies Larger Fees in New 20-Year Contracts — Iran will pay foreign oil companies larger fees than it did under previous buy-back contracts to attract $100 billion of investments needed to rebuild its energy industry. The Persian Gulf state, once OPEC’s second-largest crude producer, will also offer 20-year contracts on oil and natural gas projects. New contract terms will be introduced next month, as part of plans to boost oil production to 5.7 million barrels a day and gas output to 1.4 billion cubic meters a day by 2021.

$224 million drug factory in Russia — AstraZeneca opened a new $224 million drug manufacturing and packaging factory in Russia in a move Chief Executive Pascal Soriot said reinforced its long-term commitment to the country. The company said the plant in the Kaluga region southwest of Moscow would reach full capacity in 2017 and would produce about 40 million packs and 850 million tablets of some 30 medicines every year.

Google’s newest renewable energy investment — Google has made a reputation for itself in recent years as a major investor in renewable energy. The company announced its newest investment: a wind power project in Kenya that will be the continent’s biggest wind farm. The Lake Turkana Wind Power Project is expected to generate 1,400 gigawatt-hours of power per year, or 15 percent of the country’s electricity consumption. The project will include 365 wind turbines, spread along the shore of Kenya’s Lake Turkana.

Global Oil & Gas Pipeline Leak Detection Market — According to recently published TechSci Research report, global oil & gas pipeline leak detection market is projected to cross $1.8 billion in 2020. Growth of oil & gas pipeline leak detection market is directly affected by the oil & gas pipeline network, and the market is expected to witness growth over the next five years on account of increasing investments in oil & gas pipeline infrastructure, especially in Africa and Europe.

Mondelez Invests $50 Million in New Nigeria Plant — Mondelez International announced that it has invested more than $50 million in a state-of-the-art local production facility to meet surging demand for CadburyBournvita, Nigeria's favorite cocoa drink.

$1bn Oman water project — Consortiums led by Spanish water services giant Valoriza Agua and Japanese conglomerate Itochu Corporation have been selected by the Oman Power and Water Procurement Company (OPWP) to develop two major independent water projects (IWPs) worth about $1 billion.

Saudi may relax rules on foreign investors — Saudi Arabia would be open to relaxing its rules on foreigners investing directly in its stock market to help it get included in global indices, the chairman of the Saudi financial-markets regulatory agency, the Capital Market Authority, told Reuters.

Survey: Best Business Schools 2015

The Briefing

Weekly curated news, tips & opportunities for the global business community

Thanks! You are signed up to our briefing updates.