Category: 3. Business

  • Siemens to support Airbus in decarbonizing major industrial locations | Press | Company

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    The decarbonization roadmaps for the individual
    Airbus locations include scalable solutions to reduce energy demand and CO₂
    emissions. For this purpose, digital twins of the energy system will be used to
    simulate energy consumption in order to identify optimal packages of measures
    for the locations. These measures include on-site power supply from renewable
    energy sources, heat pumps for heat generation, improvements in energy efficiency, intelligent metering systems
    and smart energy management systems for monitoring, controlling and optimizing
    consumption at the locations. The
    expansion of the infrastructure is scheduled to begin in 2026. Siemens will
    also operate and maintain the new systems to ensure long-term efficiency and
    resilience.

    Siemens and Airbus have been collaborating
    successfully for more than half a century. Key initiatives to date include
    factory automation, industrial software, safety and security, and building
    automation.

    Press Folders
    Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.
    In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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  • Investcorp Announces Final Close of Golden Horizon Cooperation Fund at $750 Million

    13 Oct 2025

    Investcorp, a leading global alternative investment firm, is pleased to announce the successful final close of its Golden Horizon Cooperation Fund (the “Platform”), launched in collaboration with China Investment Corporation (CIC), one of the world’s largest sovereign wealth funds. The Platform secured commitments from a diverse group of global institutional investors and LPs, including Jada Fund of Funds (a subsidiary of PIF), Saudi Venture Capital, Silk Road Fund, and Bank of China, among others spanning the GCC, Asia, and China.

    The Platform is focused on investing in high-growth, profitable companies across Consumer, Healthcare, Transportation & Logistics, and Business Services sectors in the GCC and China. Its objective is to foster cross-border expansion and value creation, with Investcorp and our Chinese partners providing strategic support to help portfolio companies scale and deepen commercial ties between the two regions.

    To date, the Platform has completed three investments in the GCC: NourNet, a leading ICT services provider in Saudi Arabia, serving over 1,500 clients across more than 20 industries; Trukker, MENA’s largest on-demand digital trucking aggregator, operating across the Middle East and Europe with over 70,000 trucks and 1,200 B2B enterprise clients; and Salla, Saudi Arabia’s leading SaaS e-commerce enablement platform, which has facilitated over $9 billion in e-commerce GMV since 2020 and currently supports more than 100,000 active merchants.

    This milestone underscores Investcorp’s commitment to building strategic investment bridges between the GCC and China, seeking to unlock long-term value for investors and portfolio companies alike.

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  • Siemens partners with Airbus to decarbonize major industrial sites in the U.S. and U.K. | Press | Company

    Siemens partners with Airbus to decarbonize major industrial sites in the U.S. and U.K. | Press | Company

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    Left to right: Sabrina Herrmann – Head of Buildings Germany,
    Siemens Smart Infrastructure; Benoit Shultz – Chief Procurement Officer,
    Airbus; Herbert Klipp – Corporate Account Manager, Siemens; Carl Ennis – CEO
    Siemens UK & Ireland; Jan Schwarz – Vice President Real Estate &
    Facility Management Procurement, Airbus; Florent Massou dit Labaquère, EVP
    Operations Commercial Aircraft, Airbus; Carsten Liesener – Global Head Sales
    & Operations, Siemens Smart Infrastructure; Charles Huguet – Senior Vice
    President General Procurement, Airbus 

    As part of the
    framework agreement, Siemens will deploy its scalable and proven
    decarbonization solutions, tailored to the selected sites, to support Airbus in
    reaching the target of 80 kt CO2e abated annually from 2030.

    The project will be led by Siemens’ Buildings
    business and supported by Capgemini, combining the companies’ vast expertise in
    sustainability and digitalization to ensure the success and timely delivery of
    the project. 


    Decarbonization at
    scale: Scalable solutions for measurable impact


    Siemens will evaluate the sites and create
    and implement an overall decarbonization masterplan for the awarded sites,
    resulting in scalable solutions to reduce energy demand and carbon emissions.
    To accelerate the selection of the measures, Energy System Twins will simulate
    and help determine the best decarbonization roadmaps for the sites. The key
    elements that will enable this include decarbonization of heat production via
    heat pumps, energy efficiency upgrades, smart metering systems, on-site smart integration
    of renewable energy, and smart energy management systems to monitor, control,
    and optimize usage across the sites. These measures are designed to help Airbus
    achieve its targets of reducing energy consumption by 20 percent and Scope 1
    and 2 greenhouse gas emissions by 85 percent through 2030, compared to 2015
    levels.

    Capgemini has been appointed by Siemens for
    the program to complete first phase consulting activities, governance
    definition, and support for project management and planning. Capgemini also brings
    its expertise in the digitalization and automation of the
    energy monitoring and measurement systems.

    “Our collaboration with Airbus is built on
    years of mutual trust and shared ambition. It highlights Siemens’ capability to
    deliver smart and scalable technologies and services to reduce the carbon
    footprint of Airbus. At Siemens, we’re committed to making the energy
    transition not only sustainable, but also achievable and scalable, so that
    Airbus and other industrial leaders can confront climate challenges while
    boosting operational resilience and long-term competitiveness,” said Susanne
    Seitz, CEO of Buildings at Siemens Smart Infrastructure.

    “We’re proud to be taking this important step
    toward making our operations more energy-efficient and future-ready.
    Collaborating with trusted partners is key in building a more resilient
    industrial footprint. The site-specific expertise from our Airbus colleagues in
    the U.K. and the U.S. combined with Siemens’ technical know-how will keep us on
    the path toward meeting our energy use and emission reduction targets,” said
    Florent Massou dit Labaquere, EVP Operations of Airbus Commercial Aircraft. 


    Roadmap to 2030

    The initial phase began in summer 2025 with the
    development of decarbonization roadmaps for each site. Engineering studies will
    guide the implementation, with infrastructure rollout starting in 2026. Siemens
    can also operate and maintain the new infrastructure, ensuring long-term
    efficiency and resilience.

    Siemens and Airbus have been working together
    for more than half a century. Key initiatives have included factory automation,
    industrial software, safety and security, building automation technology, and
    beyond. This new agreement builds on successful collaboration to support
    Airbus’ sustainability ambitions and achieve its targets for minimizing its
    operational environmental footprint.

    Press Folders

    Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings, and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source – with products, systems, solutions, and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. To protect this journey, we foster holistic cybersecurity to ensure secure and reliable operations. Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland. As of September 30, 2024, the business had around 78,500 employees worldwide.

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    Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.
    In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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  • EWEC signs PPA with Engie and Masdar for 1.5 GW Khazna solar project (UAE) – Enerdata

    1. EWEC signs PPA with Engie and Masdar for 1.5 GW Khazna solar project (UAE)  Enerdata
    2. Abu Dhabi awards contract for a mega solar project  The Times of India
    3. Masdar Unveils World’s First Gigascale 24/7 Solar and Battery Storage Project to Deliver Continuous Clean Power  SolarQuarter
    4. Engie, Masdar win 1.5 GW solar project in UAE  pv magazine International
    5. French Engie and Emirati Masdar win contract for Abu Dhabi for mega solar project  The Arab Weekly

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  • Banks that don’t meet recapitalisation target will downgrade their licences – Yemi Cardoso

    Banks that don’t meet recapitalisation target will downgrade their licences – Yemi Cardoso

    This article was produced with the support of Central Bank of Nigeria

    Cardoso made the clarification during a fireside chat on Friday, 10 October 2025, with Professor Helene Rey, Lord Bagri Professor of Economics at the Wheeler Institute of Business and Development, London Business School. The discussion, held in London with investors, academics, students and media representatives, came ahead of the IMF/World Bank Annual Meetings taking place from 13–18 October in Washington, DC.

    Responding to a question from African Business, the CBN Governor said the recapitalisation exercise, which will conclude at the end of March 2026, is aimed at ensuring Nigeria maintains strong and resilient banks.

    “With the banking recapitalisation, we left the door open in terms of the category of banking licence you decide to adopt,” Cardoso said. “If you feel that you cannot meet your capital requirement, you can downgrade your licence and move into another category of banks. You don’t need to merge if you don’t have to—but if you want to merge, go ahead.

    I must emphasise that we have given all banks enough time to ensure they are able to meet the category of licence they want to hold. So we don’t see any cause for panic or disruption. Many of these anxieties may come from legacy issues—things that happened in the past that didn’t turn out well. We have given all banks different options. As these categories begin to emerge, you need to decide where your strengths lie and focus on that. You can’t be all things to all people.”

    Earlier in the conversation, Cardoso clarified his comments on the CBN’s goal of achieving single-digit inflation, following the World Bank’s latest Africa’s Pulse report which described the target as unrealistic. The report projected that Nigeria, alongside Angola, Ethiopia, Ghana, Malawi, Sudan, Zambia, São Tomé and Príncipe, and Zimbabwe, will continue to record double-digit inflation throughout 2025.

    “Sometimes one gets misquoted. I was clear that this is our goal in the medium term—that’s what I said,” he explained. “And you know why I said that? We have to challenge ourselves as Nigerians. We cannot be saying it’s alright to have double-digit inflation. We’ve got to keep pushing ourselves to get there.”

    Cardoso also emphasised the need for better coordination between monetary and fiscal policy to sustain recent gains.

    “This has been a challenge for Nigeria for years,” he said. “But the difference today is that the reforms that have taken place at the central bank are judged to be relatively successful, and people can feel the impact. That is encouraging the fiscal side to say, ‘Okay guys!’—and that’s a good thing.”

    On the naira, Cardoso said that despite its earlier devaluation, the currency has now found its true value and become competitive under the market-determined, willing-buyer–willing-seller regime.

    According to him, the market has responded positively to ongoing reforms, with the gap between the official and parallel market rates narrowing from about 50% to less than 2%. He added that there has been an accretion in reserves, a rise in foreign portfolio investments, and an improved ability of the CBN to meet domestic demand for foreign exchange.

    “Nigerians are comfortable with the fact that even though the naira was devalued, it is now stable and there is predictability, allowing people to plan,” he concluded. “Without stability, we can’t have meaningful progress.”

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  • 4th ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) – ASEAN+3 Macroeconomic Research Office

    4th ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) – ASEAN+3 Macroeconomic Research Office

    The ASEAN+3 Economic Cooperation and Financial Stability Forum, or AMRO Forum, is a platform for regional and global exchange of knowledge and ideas on economic cooperation and financial stability.

    In its fourth edition, AMRO will co-organize the forum with the Hong Kong Monetary Authority (HKMA) and Bank for International Settlements (BIS), with a common goal of achieving macroeconomic and financial resilience and stability for the region.

    This year’s theme is Fragmentation to Resilience: Macro-financial Stability and Regional Integration in ASEAN+3. The ASEAN+3 region is faced with challenge of safeguarding financial stability and strengthening macro-financial resilience while sustaining long-term prosperity. Although ASEAN+3 has made substantial progress in economic and financial cooperation over recent decades, the current global transformation demands even higher degree of collective action to navigate the changing international order.

    The forum will discuss the near-term risks and challenges to the region’s macro-financial stability and outlook, and present solutions and initiatives to promote its medium to long-term economic growth journey. There will be two sessions, comprising keynote speeches and panel discussions.

    Join us online on November 25, 2025!

    REGISTER NOW


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  • Écija: AI, external capital and expansion in Latin America

    Écija: AI, external capital and expansion in Latin America

    102.3 million in 2024, 37 offices and a £200 million target by 2030: Écija’s rise amid AI and investors

    by mercedes galán

    The legal sector is experiencing a moment of accelerated transformation, driven by digitalization, artificial intelligence and the entry of external capital in some firms. In this context, Hugo Écija, founder and chairman of Écija Abogados, sets out his model: business structure with separation between capital, management and service provision, intensive adoption of technology and an internal culture oriented towards continuous adaptation.

    “I started my firm at 26, and today I am 53. I have dedicated more than half of my life to this project, which has been vital, with vision and always evolving,” recalls Écija, who founded his firm in Madrid in 1997.

    ORIGIN
    With the start of the new century, Écija decided to structure the firm as a limited company, separating capital, management and service provision, and focused on then-emerging areas such as audiovisual law and intellectual property. “Lawyers were at once owners, managers and those who contributed capital. Everything was mixed. I came from doing an MBA, from working in the U.S., and I asked myself: why did lawyers have to do everything?” he explains.
    That business approach, unusual in Spanish legal practice in the late 1990s, made a difference. “Innovation is not only technological: law firms are companies that must adapt to the social, cultural and technological environment. Those that do not, die. And the speed of adaptation today is vital,” he comments.

    ARTIFICIAL INTELLIGENCE

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  • BA stalls over paying out £220 flight compensation | Money

    BA stalls over paying out £220 flight compensation | Money

    I booked a Tui river cruise package in Switzerland with flights provided by British Airways.

    On the day we were to return home, we discovered our flight had been cancelled. There were about 40 people affected.

    BA eventually booked us on to a flight leaving 36 hours later, but has refused to pay us the £220 compensation each due under EC regulations.

    It says adverse weather was to blame and is exempted from compensation rules.

    I requested a formal confirmation of the cancellation to submit to my travel insurer and, on that form, BA claims “operational reasons” were the cause. Unlike adverse weather, this is not covered by the insurance policy.

    AC, Alfreton, Derbyshire

    This is outrageous behaviour from a company that once considered itself “the world’s favourite airline”. You can’t get compensation from BA because, it says, bad weather grounded the flight, and you can’t get compensation from the insurer because the airline claims it was an operational issue.

    The difference is critical. Airlines are obliged to pay set sums of compensation for delayed or cancelled flights under regulation EC 261/2004. They can only get out of it if the disruption was caused by “extraordinary circumstances”.

    The regulation is vague on what these circumstances might be, but years of court rulings have honed the list down. Undefined “operational issues” would not be considered an excuse to avoid a payout; weather sometimes is, but only if it is exceptional and unexpected.

    So which was the cause? Both, says BA, hedging its bets. It claims bad weather that had disrupted previous flights had displaced crew, and that had had a knock-on effect on your journey.

    It ignored my questions about the whens, wheres and hows but that’s immaterial. “Knock-on” effects of bad weather are not an excuse to withhold compensation, according to the law firm Bott & Co.

    BA insisted it couldn’t comment further because, by then, your case was in the hands of its dispute resolution service, CEDR.

    This sounded to me like stalling tactics. I pointed this out and suddenly it stumped up. Since the money had to be prised out of it, I fear the other affected passengers may still be empty-handed.

    We welcome letters but cannot answer individually. Email us at consumer.champions@theguardian.com or write to Consumer Champions, Money, the Guardian, 90 York Way, London N1 9GU. Please include a daytime phone number. Submission and publication of all letters is subject to our terms and conditions.

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  • Fairfax Sells Eurolife Life Insurance Business Stake to Eurobank for $945 Million

    Fairfax Sells Eurolife Life Insurance Business Stake to Eurobank for $945 Million

    By Maitane Sardon

    Fairfax Financial said it agreed to sell its 80% stake in the insurance business of Eurolife FFH Insurance Group to Eurobank Ergasias for 813 million euros ($944.7 million) in cash.

    As part of the deal, Fairfax will buy a 45% stake in ERB Asfalistiki--Eurobank's Cyprus-based property and casualty insurance business--for 59 million euros in cash, the Canadian insurance company said Monday. It will have the right to acquire the remaining 55% equity interest in ERBA over time, it said.

    Following the transaction, Fairfax will keep its 80% stake in Eurolife's property and casualty insurance business, while Eurobank will fully own Eurolife's life insurance operations.

    "We are very pleased to be able to maintain the focus of our insurance operations on property and casualty insurance and reinsurance, while still benefiting from the continued success of the Eurolife life insurance business through our ownership stake in Eurobank," Fairfax Chief executive Officer Prem Watsa said.

    The deal is expected to close in the first quarter of 2026, Fairfax said.

    Write to Maitane Sardon at maitane.sardon@wsj.com

    (END) Dow Jones Newswires

    October 13, 2025 02:59 ET (06:59 GMT)

    Copyright (c) 2025 Dow Jones & Company, Inc.

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