Category: 3. Business

Each programme brings together academic and industrial expertise to deliver high-quality doctoral training, with a strong emphasis on collaboration, innovation, and real-world impact.

The three awards are:

BioProcess: Biocatalysis and Protein Engineering Centre for Sustainable Synthesis

Led by Professor Anthony Green at The University of Manchester and co-developed with AstraZeneca, BioProcess will offer training in biocatalysis, protein engineering and biomanufacturing with a specific industry focus. The programme will be delivered by a consortium of academic and industrial partners including the Universities of York and Bristol, and a network of multinational companies from across the pharmaceutical, chemical and biotechnology sectors.

Students will be based in one of the three universities and will spend a minimum of three months working on industry placements to gain experience in a commercial setting. Training will span four scientific pillars: design and discovery of new enzyme chemistry, laboratory automation and AI for accelerated protein engineering, assembly of enzyme cascades and cell factories, and realising biotransformations at scale. The programme builds on the success of the Centre of Excellence for Biocatalysis (CoEBio3), which has already graduated 36 students and commercialised over 1,000 biocatalysts to date.

BioProcess aims to equip this new generation of researchers with the technical and transferable skills needed to contribute to the UK’s bioeconomy, while fostering a collaborative and inclusive training environment.

BioAID: AI-Driven Enzyme Design for Industry Biocatalysis

BioAID, led by Queen’s University Belfast, with co-leads including Professor Sam Hay from the Manchester Institute of Biotechnology, and the Universities of Edinburgh and Bristol, will equip students with specialist knowledge in artificial intelligence and enzyme science to accelerate sustainable biomanufacturing.

The programme responds to the growing demand for scalable, AI-enhanced enzyme solutions in sectors such as pharmaceuticals, agri-tech and clean energy. Students will receive training in machine learning, protein design and synthetic biology, supported by national computing infrastructure and hands-on laboratory experience.

BioAID is designed to be interdisciplinary from the outset, with projects co-supervised across biosciences, AI, and engineering. Students will follow a structured training programme centred on three integrated scientific themes:

• AI-Powered Enzyme Discovery (e.g. metagenomic mining and structure prediction)
• AI-Guided Enzyme Design (e.g. active site tuning using ML tools)
• AI-Enhanced Enzyme Applications (e.g. scalable biocatalysis in clean manufacturing) 

The programme will deliver significant societal and economic benefits by embedding AI-driven enzyme innovation within the UK’s bioscience talent pipeline.

CODE-M: Control and Design of Bioengineered Microbial Cells and Systems

CODE-M will train PhD researchers in microbial bioengineering, with a focus on applications in biomedicine, clean growth, food systems, and environmental solutions. Led by Professors Michael Brockhurst and Neil Dixon at The University of Manchester, in partnership with the University of Liverpool, the programme will produce a cohort of highly-trained, highly employable bioengineers that will reinforce the UK’s position as a leader in green and biobased solutions. 

Students will develop microbial biotechnologies that tackle global challenges, including improving health, driving clean growth, creating resilient food systems, and delivering environmental solutions. Training will be supported by advanced facilities including biofoundries, genomics platforms, and high-performance computing, and will be built around three themes:

• Bottom-up design for bioengineering microbial cells and systems
• Top-down control for bioengineering microbiomes
• Disruptive technologies for microbial bioengineering

The programme includes hands-on rotation projects, enabling skills training, and placements with industry and national institutes. CODE-M also places a strong emphasis on responsible research and innovation, equality and inclusion, and student-led activities such as stakeholder symposia and outreach.

Building capability in the north-west

Together, these three programmes represent a significant investment in the north-west and UK’s biotechnology training landscape. They will help to build a pipeline of skilled researchers equipped to tackle complex challenges in sustainable manufacturing, health, and environmental resilience.

Each programme has been designed to align with UKRI’s doctoral investment priorities and national strategies including the UK Bioeconomy Strategy, Net Zero Strategy, and AI Strategy. By embedding industry collaboration, interdisciplinary training, and inclusive practices, these awards will support the development of a diverse and capable research workforce.

Applications for the first cohort of studentships are expected to open in 2026, with further details to be announced in due course. 
 

• EBRD invests RSD 1.2 billion in landmark bond issuance by UniCredit Bank Serbia
• Project sets new standard for raising of MREL-eligible funding in Serbia and wider Western Balkans
• Investment contributes to Serbia’s capital market development and dinarisation

The European Bank for Reconstruction and Development (EBRD) is investing RSD 1.2 billion (€10.2 million) in unsecured MREL-eligible bonds issued by UniCredit Bank Serbia (UCB) as one of the anchor investors, with UCB’s total issuance amounting to RSD 6.0 billion (€51.1 million). The bonds will be listed on the Belgrade Stock Exchange and will count towards UCB’s minimum requirement for own funds and eligible liabilities (MREL).

This financing will support lending to micro, small and medium-sized enterprises (MSMEs) in Serbia. In accordance with the Financial Intermediaries Framework, UCB has committed to increasing its SME portfolio by a multiple of the EBRD’s funding, prioritising new clients and those in economically underdeveloped regions.

At least 30 per cent of the proceeds from the EBRD’s subscription will be allocated to eligible green projects under the EBRD’s Green Economy Transition (GET) approach, supporting Serbia’s green transition.

This transaction will strengthen UCB’s compliance with regulatory requirements, diversify its bail-in-able funding base and contribute to the development of Serbia’s local capital market. This is one of the first MREL-eligible bond issuances in the country and the wider Western Balkans, so it will also have a demonstration effect on other local banks.

This investment in local currency is in line with the National Bank of Serbia’s dinarisation strategy, helping UCB to increase the Serbian dinar’s share of total funding and supporting the broader resilience of the financial sector.

The EBRD is a leading institutional investor in Serbia, having invested more than €10 billion through almost 400 projects, most of which have supported the private sector. In Serbia, the Bank’s priorities include enhancing private-sector competitiveness, productivity and access to finance.

• EBRD invests RSD 1.2 billion in landmark bond issuance by UniCredit Bank Serbia
• Project sets new standard for raising of MREL-eligible funding in Serbia and wider Western Balkans
• Investment contributes to Serbia’s capital market development and dinarisation

The European Bank for Reconstruction and Development (EBRD) is investing RSD 1.2 billion (€10.2 million) in unsecured MREL-eligible bonds issued by UniCredit Bank Serbia (UCB) as one of the anchor investors, with UCB’s total issuance amounting to RSD 6.0 billion (€51.1 million). The bonds will be listed on the Belgrade Stock Exchange and will count towards UCB’s minimum requirement for own funds and eligible liabilities (MREL).

This financing will support lending to micro, small and medium-sized enterprises (MSMEs) in Serbia. In accordance with the Financial Intermediaries Framework, UCB has committed to increasing its SME portfolio by a multiple of the EBRD’s funding, prioritising new clients and those in economically underdeveloped regions.

At least 30 per cent of the proceeds from the EBRD’s subscription will be allocated to eligible green projects under the EBRD’s Green Economy Transition (GET) approach, supporting Serbia’s green transition.

This transaction will strengthen UCB’s compliance with regulatory requirements, diversify its bail-in-able funding base and contribute to the development of Serbia’s local capital market. This is one of the first MREL-eligible bond issuances in the country and the wider Western Balkans, so it will also have a demonstration effect on other local banks.

This investment in local currency is in line with the National Bank of Serbia’s dinarisation strategy, helping UCB to increase the Serbian dinar’s share of total funding and supporting the broader resilience of the financial sector.

The EBRD is a leading institutional investor in Serbia, having invested more than €10 billion through almost 400 projects, most of which have supported the private sector. In Serbia, the Bank’s priorities include enhancing private-sector competitiveness, productivity and access to finance.

(Bloomberg) — Chinese stocks in Hong Kong neared key bearish technical levels on Tuesday as fading tech gains and renewed economic growth concerns fueled a sharp selloff.

The Hang Seng China Enterprises Index (^HSCE) slid 1.8% and the MSCI China Index fell 1.6% Tuesday, with both briefly entering technical correction. Alibaba Group Holding Ltd. (BABA, 9988.HK) and Tencent Holdings Ltd. (0700.HK, TCEHY) were among the worst drags, while a gauge of tech stocks traded in Hong Kong was just shy of a bear market.

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The recent pullback has threatened to undermine fragile investor confidence in the world’s second-largest market, weighed by persistent economic weakness and Beijing’s reluctance to unveil sweeping stimulus. Fresh data showing further deterioration in economic confidence this week has amplified concerns and raised the risk of a spillover into other assets.

“Deflation, soft consumption, real estate weakness, involution — none of these issues seem to have been definitively resolved,” said Vey-Sern Ling, managing director at Union Bancaire Privee, adding that profit-taking makes sense given uncertainty.

Investors are now reassessing their positioning in China’s equity market after a DeepSeek-fueled surge earlier this year turned local gauges into global standouts. Concerns over stretched valuations in tech and broader benchmarks coupled with fading hopes for sweeping stimulus by Beijing, are quickly eroding confidence.

That fragility was on display Monday after data showed Chinese investment slumping further and retail sales growing at their weakest pace since Covid, sending markets reeling. Home prices have resumed declines, renewing worries over China’s prolonged real estate crisis amid China Vanke Co.’s deepening debt woes. Persistent trade tensions are compounding the economy’s vulnerability.

Meanwhile, President Xi Jinping has vowed to crack down on the pursuit of “reckless” projects that have no purpose except showing superficial results, highlighting the Chinese leader’s concern over the quality of growth in gross domestic product and the use of financial resources.

Worries over an artificial intelligence bubble are affecting the tech sector, along with “generally weak macro and lack of meaningful catalysts from the Central Economic Work Conference,” said Xin-Yao Ng, a fund manager at Aberdeen Investments, referring to the economic policy meeting earlier this month.

The market pause has spurred a shift away from pricier tech shares and into areas expected to gain from Beijing’s policy support to boost domestic demand. Such a rotation has helped onshore stocks outperform their offshore peers, with the CSI 300 Index down 2.8% over the one-month period compared with a 6.8% drop in the HSCEI.

The MSCI China gauge, which tracks shares listed on the mainland and in Hong Kong, is trading at about 12 times forward earnings, above its five-year average of 11 times.

Some global fund mangers, including Amundi SA and Fidelity International, say Chinese stocks could advance next year given the country’s AI prowess and resilience amid US tensions. The MSCI China Index is still up nearly 27% this year, beating gains in the regional benchmark and almost doubling the climb in the S&P 500.

Still, profit taking in high-flying names, such as Pop Mart International Group Ltd., has added pressure to China’s domestic markets.

“China stocks have lost momentum in the fourth quarter due to a lack of catalysts and underwhelming signals on policy support,” said Marvin Chen, a strategist at Bloomberg Intelligence. “China stocks may continue to take signals from global sentiment until early next year, when key policy meetings kick off.”

—With assistance from Lin Zhu and Charlotte Yang.

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The European Bank for Reconstruction and Development (EBRD) has acquired an indirect minority stake in Unilogo Robotics, a robotics company based in Poland. The Bank has invested alongside private equity fund Resource Partners, in which the EBRD is also a limited partner.

Operating at the intersection of industrial automation and software, Unilogo is a fast-growing Polish business offering robotic assembly line solutions. It provides integrated robotic lines that are controlled by proprietary software and tailored to short production runs primarily for personal care and household products segments. The company’s systems are used by global players in the fast-moving consumer goods (FMCG) industry.

The EBRD’s investment has supported Resource Partners’ acquisition of Unilogo, paving the way for the company to grow further in Poland and beyond. As new shareholders, the EBRD and Resource Partners will help Unilogo develop and expand its highest-speed robotic lines as well as improve its proprietary software and corporate governance.

Tamas Nagy, EBRD Co-Head of Private Equity, said: “We are pleased to support Unilogo in its expansion and to continue our strong cooperation with Resource Partners, initially through the fund investment and now through this first joint co-investment. This transaction is a perfect example of how the EBRD adds value to the Polish market through private equity ecosystem development and by supporting forward-thinking companies such as Unilogo.”

Frederic Lucenet, EBRD Global Head of Manufacturing and Services, added: “Unilogo’s obotics solutions are very important to keep manufacturing competitive, including for many of our FMCG clients in central and eastern Europe. The EBRD will support the ambitious growth plans of the company. Congratulations to the Unilogo and Resource Partners teams.”

Andreea Moraru, EBRD Director for Poland and Baltic States, said: “We focus on supporting innovative, high-growth companies in Poland, and Unilogo is precisely that. We’re delighted to join forces with Resource Partners to help this Polish tech champion grow. This will not just benefit its clients but also strengthen Poland’s industrial competitiveness.”

The EBRD is one of the leading institutional investors in Poland. Since the start of its operations in the country in 1991, the Bank has invested more than €16 billion across 584 projects. Last year, the EBRD invested a record €1.4 billion in the country, with 12 per cent of this in direct equity and equity-like instruments.