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OMAN INVESTMENT AUTHORITY INVESTS IN ELON MUSK’S XAI
MUSCAT, Oman, Dec. 19, 2024 /PRNewswire/ — Oman Investment Authority (OIA), the investment arm of the Sultanate of Oman has invested in xAI, a leading artificial intelligence company that ranks among the top five in its industry and one of Elon Musk’s companies. By focusing on advanced technologies, the authority aims to diversify its international portfolio while capitalizing on transformative industries with significant growth potential.
According to OIA, xAI has achieved two major milestones since its launch by Elon Musk in March 2023: the establishment of a large-scale data center in the United States and the rollout of its advanced platform, Grok-2. These achievements are expected to further strengthen the company’s market position and drive stronger returns on OIA’s investment.
HE Abdulsalam bin Mohammed Al-Murshidi, President of Oman Investment Authority, stated that the investment is the result of a strong and constructive relationship that OIA has built over the years with Elon Musk. He emphasized that this investment supports Oman’s broader goals under Vision 2040, which enables the Sultanate to adopt world-class technologies and drive future progress.
xAI aims to be a pioneer in AI systems, offering the ability to process and analyze real-time data, an essential advantage over many competing AI systems. The platform provides advanced tools and detailed analytics, enabling users to optimize large AI models and manage various types of visual data, such as documents, charts, graphs, and photographs.
OIA is also a shareholder in SpaceX, Musk’s groundbreaking aerospace company known for its Starlink satellite communication system. This collaboration has been highly successful, with OIA achieving an internal rate of return exceeding 37% on its SpaceX investment. The strong returns are attributed to SpaceX’s rapid global expansion and the deployment of its satellite communication services in numerous countries worldwide.
About Oman Investment Authority (OIA)
Oman Investment Authority (OIA) is the investment arm of the Sultanate entrusted with managing, investing, and developing the nation’s national and international assets. With a diverse investment portfolio locally and globally, OIA invests in over 40 countries, targeting various sectors, including, energy, logistics, ICT, services, finance and investment, food security, tourism, mining, industry, and aviation. OIA is committed to driving sustainable economic growth and contributing to the well-being of Oman’s people while also supporting the Sultanate’s vision of becoming a leading investment destination in the region.
Contact:
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UPL RECOGNIZED AS LEADING AGROCHEMICAL COMPANY IN DOW JONES SUSTAINABILITY INDICES FOR SECOND CONSECUTIVE YEAR
- UPL achieves the highest score globally in the agrochemicals sector and fourth highest in the chemicals industry in the Dow Jones Sustainability Index (DJSI)
- UPL is the only agrochemical company included in the DJSI World Index for the second consecutive year.
LONDON, Dec. 19, 2024 /PRNewswire/ — UPL Ltd. (NSE: UPL) (BSE: 512070) (LSE: UPLL), a global provider of sustainable agricultural solutions, has been ranked as the top agrochemicals company in the 2024 Dow Jones Sustainability Indices (DJSI) for the second year running, and achieved the fourth highest score globally in the chemicals industry. This marks the second consecutive year that UPL has been included in both the DJSI World and Emerging Markets Indices, recognizing the company’s continued sector-leading sustainability performance.
UPL’s recognition by DJSI is based on the company’s outstanding performance in achieving the highest scores in the agrochemical sector in the S&P Global 2024 Corporate Sustainability Assessment.
The DJSI is a globally renowned benchmark for evaluating companies’ Environment, Social, and Governance (ESG) performance. The DJSI World Index highlights the top 10% of leading global companies in each industry, reflecting their commitment to promoting sustainable development. In addition, the DJSI Emerging Markets Index honours the top 10% of the largest 800 companies in emerging markets, selected for their outstanding ESG practices.
Jai Shroff, Chairman and Group CEO of UPL Group, said: “At UPL, we believe that agriculture lies at the heart of global sustainability efforts, and we are immensely proud to lead our sector in the DJSI for the second consecutive year. This recognition reaffirms our commitment to Reimagining Sustainability by demonstrating how agriculture can be a force for good – empowering farmers, enhancing food security, fostering sustainable development, and creating a brighter future for all.”
UPL’s excellent sustainability rating places the company among the top global performers. This acknowledgement is a testament to UPL’s commitment to leading sustainable practices across its global operations, aligning with the best-in-class benchmarks for investors who prioritize long-term shareholder value.
NOTES TO EDITORS:
About UPL Group
UPL Ltd. (NSE: UPL, BSE: 512070, LSE GDR: UPLL) is a global provider of sustainable agricultural products and solutions that cover the entire agrifood value chain. With annual revenue exceeding $5bn, the company is one of the largest agriculture companies worldwide, serving growers in more than 130 countries. UPL Group consists of four pure-play platforms that include UPL Corporation Ltd. (UPL Corp); UPL Sustainable Agri Solutions Ltd. (SAS); Advanta Enterprises Ltd.; and Superform Chemistries Ltd. (FKA UPL Speciality Chemicals Ltd.). Together, these platforms are dedicated to Reimagining Sustainability and driving progress in our food system through our innovative OpenAg® approach. To learn more about UPL, please visit upl-ltd.com and follow us on LinkedIn, X, and Facebook.
UPL Corporation Ltd. (UPL Corp) is a leading global crop protection and biological solutions company defining the future through sustainable agriculture and a grower-first mindset. With a robust portfolio of holistic solutions, UPL Corp aims to create shared growth and prosperity for farming communities, agriculture, and our planet. As the largest of UPL Group’s pureplay platforms, UPL Corp contributes to around $4bn in annual revenue and is a leader in fostering collaboration through OpenAg® to develop advanced technologies for crop health and productivity.
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Levulinic Acid Market to Hit USD 486.1 Million by 2030 | Explore Key Trends, Applications, and Forecasts – Valuates Reports
Levulinic Acid Market is Segmented by Type (Industrial Grade Levulinic Acid, Pharma Grade Levulinic Acid), by Application (Pharmaceuticals, Cosmetics & Personal Care, Plasticizers, Food and Flavors, Agrochemicals, Biofuels)
BANGALORE, India, Dec. 19, 2024 /PRNewswire/ — The Global Levulinic Acid Market was valued at USD 209.8 Million in 2023 and is anticipated to reach USD 486.1 Million by 2030, witnessing a CAGR of 12.6% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Levulinic Acid Market:
The levulinic acid market is experiencing robust growth, driven by its applications in sustainable chemicals, agrochemicals, biofuels, and pharmaceuticals. As a versatile bio-based compound, levulinic acid addresses the global shift towards environmentally friendly and renewable solutions. Key industries such as agriculture, energy, and personal care are leading its adoption, supported by advancements in chemical processing technologies.
The integration of levulinic acid in biofuel production and plasticizer manufacturing further underscores its role in promoting sustainability across sectors. As industries prioritize innovation and eco-conscious practices, the levulinic acid market is poised for continued expansion, offering sustainable alternatives to traditional petrochemical-based products.
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TRENDS INFLUENCING THE GROWTH OF THE LEVULINIC ACID MARKET:
Industrial-grade levulinic acid is a major growth driver in the levulinic acid market, finding widespread applications in manufacturing chemicals, coatings, and bio-based products. Its versatility and eco-friendly profile make it a preferred raw material for producing derivatives such as delta-aminolevulinic acid (ALA), a crucial component in herbicides and pesticides. With the rising demand for sustainable agricultural practices, levulinic acid-based agrochemicals are gaining traction. Additionally, industrial-grade levulinic acid is used in the production of resins and plasticizers, supporting industries like construction and packaging. The growing emphasis on bio-based alternatives to petroleum-derived products further propels demand for industrial-grade levulinic acid. Its adoption in biofuel production is also expanding, as governments and industries prioritize renewable energy solutions. As global industrial activity continues to grow, the diverse applications and environmental benefits of industrial-grade levulinic acid ensure its sustained demand and market expansion.
Pharma-grade levulinic acid plays a crucial role in driving the growth of the levulinic acid market due to its applications in the pharmaceutical and personal care industries. It serves as a key intermediate in the synthesis of active pharmaceutical ingredients (APIs) and cosmetic formulations. The compound’s biodegradable and non-toxic nature makes it ideal for use in skin-care products, moisturizers, and anti-aging solutions, aligning with consumer preferences for sustainable and safe ingredients. Additionally, pharma-grade levulinic acid is utilized in drug development processes, particularly for producing antibiotics and anti-inflammatory medications. The rising demand for green chemistry in pharmaceutical manufacturing further enhances its market appeal. Regulatory support for eco-friendly formulations in personal care and healthcare sectors has accelerated the adoption of pharma-grade levulinic acid. As industries shift towards greener alternatives, the demand for high-purity levulinic acid in pharmaceutical and cosmetic applications is expected to grow steadily.
The increasing use of levulinic acid in the production of plasticizers is a significant factor driving the levulinic acid market. As an eco-friendly alternative to conventional phthalate-based plasticizers, levulinic acid-derived plasticizers offer enhanced flexibility, durability, and reduced environmental impact. These bio-based plasticizers are extensively used in manufacturing flexible PVC, adhesives, and coatings, catering to industries like automotive, construction, and consumer goods. The growing regulatory push to limit the use of harmful chemicals in plastics has further boosted the adoption of levulinic acid as a sustainable feedstock for plasticizers. Additionally, its ability to improve product performance while adhering to environmental standards makes it a preferred choice for manufacturers. As the demand for bio-based materials rises across industrial sectors, levulinic acid’s role in producing safe and sustainable plasticizers continues to expand, driving significant market growth.
The increasing emphasis on sustainability across industries has significantly boosted the demand for bio-based chemicals, including levulinic acid. Derived from renewable biomass sources, levulinic acid offers an environmentally friendly alternative to petrochemical-based products. Its use in producing biodegradable plasticizers, solvents, and agrochemicals supports industries in meeting sustainability goals. Governments and regulatory bodies worldwide are implementing policies and incentives to promote green chemistry and reduce reliance on fossil fuels, further driving the adoption of levulinic acid. The compound’s versatility across applications, including packaging, construction, and automotive, makes it an attractive option for manufacturers seeking eco-friendly raw materials. Additionally, consumer awareness of sustainable products has spurred demand for bio-based goods, accelerating the integration of levulinic acid in production processes. As industries continue to prioritize environmentally responsible practices, levulinic acid’s role as a sustainable chemical feedstock will remain pivotal in driving market growth.
The agrochemical industry has emerged as a key driver of the levulinic acid market, leveraging its derivatives for sustainable farming practices. Levulinic acid is a critical raw material for producing delta-aminolevulinic acid (ALA), which acts as a bio-stimulant and herbicide, enhancing crop growth and pest resistance. With the rising global demand for food and the push for organic farming, levulinic acid-based agrochemicals are gaining popularity for their eco-friendly and non-toxic properties. Additionally, regulatory restrictions on conventional chemical pesticides have created opportunities for bio-based alternatives, boosting levulinic acid’s market appeal. The compound’s ability to improve soil health and crop yield aligns with sustainable agriculture trends, ensuring its sustained adoption in farming practices. As global agricultural production expands to meet food security goals, the demand for levulinic acid in agrochemical applications is expected to rise significantly.
The rising adoption of biofuels as a sustainable energy source has driven demand for levulinic acid in biofuel production. Levulinic acid serves as a precursor for bio-based fuels, such as gamma-valerolactone (GVL) and methyl tetrahydrofuran (MTHF), which are cleaner alternatives to traditional fossil fuels. These biofuels offer reduced greenhouse gas emissions and improved energy efficiency, addressing global concerns about climate change and energy security. Governments worldwide are encouraging the use of renewable fuels through policies, subsidies, and mandates, creating a favorable market environment for levulinic acid. Its cost-effectiveness and availability from non-edible biomass sources make it an attractive feedstock for large-scale biofuel production. As industries and transportation sectors transition towards greener energy solutions, levulinic acid’s role in supporting the biofuel economy is expected to grow, driving significant market expansion.
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LEVULINIC ACID MARKET SHARE
Asia-Pacific is the largest market with about 62% market share. North America is the follower, accounting for about 26% market share.
The key players are GFBiochemicals, Zibo Changlin Chemical, Hefei TNJ Chemical, Hero Chemical Industry, Guannan East Chemical etc. GFBiochemicals is the largest manufacturer with about 75% market share.
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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Vantage Gears Up for iFX Expo Dubai 2025: Innovation, Insights, and Empowerment in Trading
PORT VILA, Vanuatu, Dec. 19, 2024 /PRNewswire/ — Vantage Markets, a leading multi-asset trading platform, is excited to announce its participation at the highly anticipated iFX Expo Dubai 2025, scheduled for January 14-16 at the Dubai World Trade Centre. As one of the premier global events for the FX, fintech, and crypto industries, the expo offers an unparalleled opportunity for attendees to engage with industry leaders, discover cutting-edge technologies, and gain valuable insights into the evolving financial landscape.
For anyone undecided about attending, Vantage’s Souhail Fadlallah, Business Development Manager at the Global Sales Department, emphasizes:
“It’s not just an event; it’s an opportunity to connect with some of the best experts in the industry, discover the latest innovations, and gain awareness that can drive your business forward. Missing out means missing a chance to stay ahead in an industry that’s evolving faster than ever.”
The iFX Expo Dubai has earned a reputation as the ultimate networking hub for financial services professionals. With thousands of attendees, exhibitors, and speakers from across the globe, the event provides a dynamic platform for exploring the latest trends in FX, fintech, and crypto.
At this year’s expo, Vantage will showcase its commitment to empowering traders and partners through innovative solutions, transparency, and customer-centric services. Attendees visiting the Vantage booth can expect:
- Cutting-Edge Trading Tools: Discover the latest advancements in trading platforms, including enhanced features designed to streamline user experiences and optimize performance.
- Advanced Educational Resources: Vantage’s suite of learning tools offers traders access to valuable insights, training, and materials to sharpen their skills and achieve success in the financial markets.
- Affiliate and Partner Programs: Vantage is dedicated to creating value for affiliates and partners, offering robust programs designed to drive mutual growth and success.
“We’re passionate about empowering traders with the tools, resources, and education they need to succeed in today’s markets,” Fadlallah adds. “Our presence at the expo reflects our commitment to being more than a broker—we’re a partner in your success.”
For Vantage, participation at iFX Expo Dubai 2025 is about more than showcasing its offerings; it’s about building trust and fostering meaningful connections.
“We want attendees to leave iFX Expo Dubai with the clear message that Vantage is more than just a trading platform,” Fadlallah emphasizes. “We’re a partner deeply committed to innovation, transparency, and the success of all our clients.”
The feeling Vantage hopes to inspire is one of trust and excitement, assuring attendees that with Vantage’s cutting-edge tools and exceptional service, they are well-equipped for a successful trading journey.
Vantage’s participation at iFX Expo Dubai 2025 underscores its vision for shared growth in the rapidly evolving financial markets. The company remains steadfast in its mission to provide clients and partners with the tools, knowledge, and opportunities to excel in a dynamic trading environment.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.
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