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Indonesia’s Jonatan Christie got his 2025 Hylo Open campaign off to a flying start on Wednesday (29 October), dismissing India’s Tharun Mannepalli 21–11, 21–12 in the first round of the men’s badminton singles tournament.
Air Liquide has successfully issued a 2.15 billion euros multi-tranche bond. This large-scale financial operation is intended for the financing of the strategic acquisition of DIG Airgas to be closed in the upcoming months1. DIG Airgas is a major and recognized player in the industrial gas industry in the South Korean market, a country at the forefront of the next waves of development in key sectors like the semiconductors industry, decarbonized energy and mobility. This highly complementary acquisition is a strategic move that will strengthen our presence in the Republic of Korea and beyond in Asia, reinforcing our position across key existing and growing markets.
This transaction, significantly oversubscribed by investors, was executed under the Group’s Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising 2.15 billioneuros with 2-year, 4-year, 7.5-year and 12-year maturities at a weighted average interest rate below 3.00% per annum.
This issue will be rated « A » by Standard & Poor’s and Scope Ratings and « A2 » by Moody’s.
Jérôme Pelletan, Group Chief Financial Officer and Member of the Air Liquide Executive Committee, stated :
“The success of this bond issuance, confirms our strong market standing and reflects investors’ continued confidence in our robust business model and performance trajectory. The funds raised will be used to finance the acquisition of DIG Airgas. This strategic transaction is driven by the perfect complementarity between DIG Airgas and Air Liquide in the Republic of Korea, that will additionally deliver highly executable synergies, including secured growth from DIG’s investment backlog.”
1 Following the completion of relevant regulatory clearances
Air Liquide has successfully issued a 2.15 billion euros multi-tranche bond to finance the DIG Airgas acquisition
Seizing Ho Chi Minh City’s low-carbon economic opportunities with a net zero industrial precinct approach is both an economic imperative and a climate opportunity.
Vietnam’s industrial zones are central to its economic success, but they also account for a significant share of national emissions.
In line with its net zero by 2050 commitment and evolving international trade requirements, Vietnam – and particularly Ho Chi Minh City (HCMC) – is taking steps to align its industrial growth with decarbonisation pathways.
Net zero industrial precincts (NZIPs) offer a coordinated, place-based decarbonisation approach.
They can help unlock shared infrastructure for clean energy, reduce the cost and risk of new technologies, and position HCMC as a globally competitive, net zero-aligned manufacturing hub.
By decarbonising its industrial zones through an NZIP framework, the city can future-proof its industries against trade regulations while attracting low-carbon investment and maintaining market access.
HCMC has over 17 industrial zones, each varying in size, types of industries, and energy and emissions profiles.
These differences mean each zone has differing decarbonisation opportunities – highlighting the benefits of taking a place-based approach.
In industries such as electronics and machinery, priorities include electrification, energy efficiency upgrades, fuel switching and rooftop solar deployment.
In contrast, heavy industries, such as steel and chemicals, require more complex interventions, including the use of hydrogen, ammonia, sustainable biomass and potentially carbon capture, utilisation and storage (CCUS).
Each zone’s energy and emissions profile informs tailored interventions that reflect both the technological requirements and market pressures of its key sectors such as electronics, steel, plastics, cement and textiles.
In this report, Climateworks analyses five representative industrial zones that cover over 70 per cent of HCMC’s industrial energy use and a wide range of sectors.
These include Saigon Hi-Tech Park, Tan Thuan Export Processing Zone, and Tan Tao, Hiep Phuoc and Dong Nam Industrial Zones.
Through this analysis, we identify common decarbonisation levers that can be applied across HCMC, including renewable energy, electrification of heating and improving energy efficiency.
Financing HCMC’s industrial transition requires targeted use of blended capital, de-risking mechanisms and the alignment of Vietnam’s nascent carbon market, green bond frameworks and sustainability-linked loans.
As HCMC is set to become an international financial hub, the city is well placed to mobilise capital for industrial transition.
We recommend a phased implementation strategy beginning with pilot projects in high-readiness zones, supported by key performance indicators, emissions baselines and public–private investment coordination.
The success of these pilots will not only help reduce local emissions but also provide a national model for industrial transition that can inform future scaling across Vietnam’s industrial ecosystem.
Realising this vision requires action across four foundational pillars and one cross-cutting enabler.
Firstly, it means developing coordination and skills to embed cross-sectoral governance mechanisms and building institutional capacity.
Secondly, it is building the necessary enabling infrastructure, including renewable electricity, green hydrogen supply, lowcarbon transport and industrial-scale heat recovery networks.
Thirdly, it means decarbonising existing industries through process upgrades, electrification, energy efficiency and low-carbon procurement standards.
Lastly, it is attracting new industries through targeted investment, incentives and policy certainty.
There are also cross-cutting enablers that are critical to unlock the required capital and deliver long-term social and economic resilience, such as sustainable finance mechanisms (e.g. green bonds, sustainability-linked loans and concessional climate finance) and workforce reskilling.
By combining our analysis of HCMC’s industrial zones with international case studies of industrial transition, this report presents a roadmap for implementing NZIPs in HCMC. HCMC stands at a strategic crossroads.
By implementing net zero industrial precincts, the city can demonstrate climate leadership, secure long-term industrial competitiveness and catalyse Vietnam’s broader transition to a resilient, low-carbon economy
Xbox sales have been tanking for a while now — and the story hasn’t gotten any brighter. Microsoft just released its Q1 2026 earnings and Xbox hardware revenue was down 29 percent year-over-year. Last quarter, it was down 22 percent. Down 29…
Google’s parent company, Alphabet, displayed steady growth in its core advertising business and cloud computing division as it reported third-quarter earnings on Wednesday, beating Wall Street estimates as it reported its first quarter of $100bn in revenue.
The company thrilled Wall Street – shares rose in after-hours trading – even as it announced that it would spend billions more than previously predicted. Alphabet raised its capital expenditure guidance in financial filings, declaring it would spend between $91bn and $93bn in the upcoming year, nearly all of it on infrastructure like datacenters to support artificial intelligence products, which are becoming an integral part of the company’s business. That estimate is up from an original declaration of $75bn in February and a revised figure of $85bn announced in July.
The company reported total revenue of $102.35bn for the quarter, compared with analysts’ average estimate of $99.89bn, according to data compiled by LSEG.
Google Cloud remained one of Alphabet’s fastest-growing segments, benefiting from surging enterprise demand for AI-powered infrastructure and data analytics services. The unit posted revenue of $15.16bn, topping estimates of $14.72bn. The performance was likely boosted by burgeoning enterprise demand for its AI infrastructure.
The unit continues to close the gap with larger rivals Microsoft Azure and Amazon Web Services, aided by strong take-up of Vertex AI and custom tensor processing units.
Competition in the broader AI and cloud market is intensifying, with rivals aggressively cutting prices and introducing new generative-AI capabilities.
Alphabet’s advertising unit, which brings is the vast majority of the company’s revenue, has been competing in a crowded field of rivals vying for more ad dollars as lower interest rates are expected to lift the economy.
However, analysts have pointed to cautious spending from advertisers in some sectors who are grappling with economic uncertainty due to pressures from tariff costs and a rapidly evolving global trading landscape.
Still, Wall Street expects the company to benefit from advertisers moving away from experimental ad platforms like Snapchat and others.
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The results come just days after Microsoft and SoftBank Group-backed OpenAI unveiled its AI-powered Atlas browser, aimed at directly competing with Google’s core search engine and Chrome browser, the most popular in the world.
The launch represents one of the most significant challenges to Google’s search dominance in years and will be a key focus for investors listening for management’s response to the rising competitive threat to its most lucrative business.
