Seychelles and the Common Market for Eastern and Southern Africa (COMESA) have reaffirmed their commitment to strengthening cooperation in trade, innovation and economic empowerment during an official visit by COMESA Secretary General Chileshe Mpundu Kapwepwe to the island nation. At the State House, Seychelles President Patrick Herminie highlighted the long-standing partnership between Seychelles and COMESA, praising the regional body's support through the Regional Enterprise Competitiveness and Market Access Programme (RECAMP) for providing training and equipment to strengthen the
The African Development Bank (AfDB) has approved a financing package of up to $110 million for the 300 MW Aysha Wind Project, Ethiopia's first wind-based Independent Power Producer (IPP), the country's largest wind power once completed. The project is estimated to cost $508 million, will receive up to $80 million from the AfDB, $20 million from the Clean Technology Fund, and $10 million from the Sustainable Energy Fund for Africa. The Bank will also help mobilise an additional $381.1 million in debt financing from other development finance institutions. Developed, owned and operated by
Morocco plans to expand its hotel capacity by 60,000 beds ahead of the 2030 FIFA World Cup, as the country looks to strengthen its tourism industry and capitalise on the global attention generated by the tournament. Tourism Minister Fatim-Zahra Ammor said the World Cup should catalyze long-term growth rather than a one-time event. Morocco is investing more than 190 billion dirhams (around $20 billion) in rail, roads, airports, stadiums and other urban infrastructure as it prepares to co-host the tournament alongside Spain and Portugal. The country has already added 45,000 hotel beds ove
Samsung Biologics has announced an all-cash bid worth 1.46 billion Swiss francs ($1.8 billion) to acquire Switzerland-based PolyPeptide Group, a leading manufacturer of peptide-based active pharmaceutical ingredients (APIs). Under the proposed public tender offer, PolyPeptide shareholders will receive 44.31 Swiss francs per share, with the transaction expected to close by the end of the year. Samsung Biologics said the acquisition would be the largest biopharmaceutical merger and acquisition deal in South Korea's history. The move is to expand Samsung Biologics' presence in peptide ther
More than 1,500 Indian entrepreneurs have joined The “Gamechangers Middle East”, a new India-UAE startup initiative designed to help founders access investment, mentorship and expansion opportunities across the region. According to startup advisor and entrepreneur R Madhavan, the initiative seeks to bridge the gap between Indian startups and the UAE's growing innovation ecosystem by creating a structured platform for cross-border collaboration. The programme focuses on connecting founders with investors, industry leaders, mentors and strategic partners to help scale businesses beyond I
Australia will establish a dedicated government AI office to oversee the country's artificial intelligence strategy, as Prime Minister Anthony Albanese unveiled plans to strengthen AI governance and regulate the environmental impact of large data centres. The AI office will operate within the Department of the Prime Minister and Cabinet, coordinating AI policy across government and developing national standards for the rapidly growing technology sector. Albanese said the move marks a shift from sector-specific AI regulation towards a more coordinated national approach. As part of the pl
The India-New Zealand Free Trade Agreement (FTA) is expected to come into force by the end of 2026, marking a major step in strengthening bilateral trade, investment and economic cooperation between the two countries. According to New Zealand's Minister for Trade and Investment Todd McClay, both governments are working towards the early implementation of the agreement, which has already cleared its first reading in the New Zealand Parliament. Once operational, the FTA is expected to provide Indian exporters with immediate zero-tariff access to the New Zealand market across a wide range of
The India-UK Free Trade Agreement (FTA) will officially come into force on July 15, 2026, marking a major milestone in economic relations between the two countries after years of negotiations. Signed earlier this year, the agreement is expected to reduce or eliminate tariffs on thousands of products traded between India and the United Kingdom, making goods more competitive in both markets while encouraging greater investment and business cooperation. Under the agreement, India will gradually reduce import duties on several UK products, including cars, whisky, cosmetics, medical devices,
Prime Minister Narendra Modi on Friday said India and New Zealand are working towards linking India's Unified Payments Interface (UPI) with New Zealand's payment system, marking a significant step in expanding digital and financial cooperation between the two countries. Addressing the Indian community in Auckland during his two-day visit, Modi said the proposed integration would strengthen bilateral collaboration in fintech while making cross-border digital transactions more seamless. "We are moving ahead with connecting India's UPI and New Zealand's payment system," the Prime Minister
On Thursday, Prime Minister Narendra Modi said India is building a manufacturing "chips to ships" ecosystem while investing in emerging technologies such as 6G, as the country works towards becoming a developed nation. Addressing members of the Indian community in Melbourne, Modi said India has emerged as the world's third-largest startup ecosystem, with more than two lakh registered startups and over 4,000 new startups being launched every month. He added that entrepreneurship is no longer limited to major cities, and innovation is expanding rapidly across districts. Highli