Major pharmaceutical companies want to increase production in China because of the country's aging population, rise of chronic diseases, and gastrointestinal ailments. A contract has been reached by American company Moderna to produce matrix RNAi-based medicines for the Chinese market, reported The Financial Times. Drugs created in accordance with this agreement will only be used by Chinese...

According to Bloomberg, the national oil corporation of Abu Dhabi and the Austrian oil and gas behemoth OMV are considering combining their two businesses, which could create a $30 billion plus petrochemical behemoth. ADNOC, the national oil corporation of Abu Dhabi, and OMV, the largest oil and gas company in Austria, are considering merging their two businesses, Borouge and Borealis, Bloomberg...

The FT has discovered that Apple has dramatically scaled back its production plans for its new mixed reality helmets in 2024. According to the Financial Times, which cited sources, Apple has had to dramatically lower manufacturing projections for its new class of gadgets, the Vision Pro mixed reality headset. The targets were reportedly cut due of the device's intricate construction, according...

Following the European Commission's permission, AD Ports Group got Spain's final approval of the transaction. Following approval from the Spanish government, AD Ports Group of the United Arab Emirates purchased the logistics company Noatum for €660 million (about $720 million). On Sunday, the Abu Dhabi Stock Exchange saw a statement to that effect from the Emirati group. The statement read,...

Shein, a Chinese online retailer, submitted required documentation to the Securities and Exchange Commission (SEC) of the United States in preparation for an initial public offering of its shares, reports Reuters. By the end of the year, the company plans to do an IPO on the New York Stock Exchange. Shein will rank among the costliest Chinese public businesses to list on a US exchange if the IPO...

The yearly stress test for the 23 biggest US banks was announced by the US Federal Reserve (Fed) yesterday, June 28. According to the Fed, none of the biggest banks would have gone down in the adverse scenario—which connotes a "severe recession"—and they would all have been able to maintain the minimal level of capital sufficiency. At that, the overall amount of bank losses would have been $541...

According to the WSJ, FTX has started talking to investors about relaunching its cryptocurrency exchange. Following the exchange's filing for bankruptcy in November 2022, CEO John J. Ray III stated that FTX will recruit investors to revive its eponymous cryptocurrency exchange. According to The Wall Street Journal, which cited sources familiar with the discussions, the cryptocurrency company is...

According to Defense One, American military giant Raytheon has rehired former workers to assist in restarting Stinger missile production. The Stinger missiles haven't been manufactured for 20 years, and it's interesting that they "became the stars of the show within the first 48 hours" of the Russian invasion’s start, leaving "everyone wanting more." Wes Kremer, CEO of Raytheon, remarked, "We...

According to the Xinhua news agency, the European aircraft manufacturer Airbus delivered an airplane that had been put together in Tianjin, China, to a European airline for the first time. One of the biggest low-cost airlines in Europe, Wizz Air, purchased the first A321neo that was built in Tianjin. The Airbus Corporation started producing A321 aircraft in Tianjin, it was revealed in November....