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New Economy Observer New Economy Observer (NEO) is a digital publication where investment meets social responsibility.

We provide analyses on the trends shaping the new global economy, including sustainability, e-commerce and tech innovation.

Lulu Retail Holdings Plc’s $1.72 billion IPO in Abu Dhabi attracted $37 billion in orders, with significant interest fro...
06/11/2024

Lulu Retail Holdings Plc’s $1.72 billion IPO in Abu Dhabi attracted $37 billion in orders, with significant interest from global investors like Vanguard Group Inc. and Singapore’s sovereign wealth fund, GIC Pte.

Lulu Retail Holdings Plc’s $1.72 billion IPO in UAE drew $37 billion in orders, attracting strong interest from local and global investors.

On 1 November, Sweden abolished a tax that had cut plastic bag consumption by more than 75% over the past four years, de...
05/11/2024

On 1 November, Sweden abolished a tax that had cut plastic bag consumption by more than 75% over the past four years, despite warnings that this step could cause usage to return to previous levels.

Sweden will eliminate a plastic bag tax that has reduced consumption by more than 75% over the past four years on Friday.

The Indonesian Ministry of Industry has prohibited the sale of Google’s smartphones, citing non-compliance with regulati...
01/11/2024

The Indonesian Ministry of Industry has prohibited the sale of Google’s smartphones, citing non-compliance with regulations that require 40% of components to be locally sourced. Ministry spokesperson Febri Hendri Antoni Arief stated that Google must obtain local content certification to resume sales in the country.

After the iPhone 16 ban, Indonesia has extended restrictions to Google Pixel smartphones to tighten oversight on foreign manufacturers.

Saudi Arabia’s ACWA Power plans to triple its assets under management to $250 billion within five years, driven by signi...
31/10/2024

Saudi Arabia’s ACWA Power plans to triple its assets under management to $250 billion within five years, driven by significant expansions in green hydrogen and renewable energy projects, according to a senior company official.

Saudi Arabia's ACWA Power plans to triple its assets under management to $250 billion within five years according to a company official.

IAB Europe has introduced the Beta version of its Retail Media Certification Programme, calling it an “industry-first” i...
30/10/2024

IAB Europe has introduced the Beta version of its Retail Media Certification Programme, calling it an “industry-first” initiative. This programme aims to establish standards for transparency, fairness, and accountability in retail media measurement.

IAB Europe has launched the Beta version of its Retail Media Certification Programme, which sets standards in retail media measurement.

In a blog post on October 9, Amazon announced that starting from October 2024, the company no longer includes plastic ai...
29/10/2024

In a blog post on October 9, Amazon announced that starting from October 2024, the company no longer includes plastic air pillows in any delivery packaging used worldwide.

Starting in October 2024, Amazon has completely phased out the use of plastic air pillows in its delivery packaging across all regions.

Technip Energies and Enerkem Inc. have announced a landmark partnership to accelerate the global rollout of Enerkem’s te...
27/10/2024

Technip Energies and Enerkem Inc. have announced a landmark partnership to accelerate the global rollout of Enerkem’s technology, turning non-recyclable waste into sustainable fuels and circular chemical products.

Technip Energies and Enerkem Inc. partner to accelerate transformation of non-recyclable waste into sustainable fuels.

Argentina’s salt flats, located in South America’s “lithium triangle,” have long been a hotbed of activity for companies...
24/10/2024

Argentina’s salt flats, located in South America’s “lithium triangle,” have long been a hotbed of activity for companies eager to extract the battery metal crucial for the global transition to electric vehicles (EVs).

Many of the firms in "lithium triangle" are scaling back as the lithium industry is grappling with a 80% drop in prices.

Sensei, a European pioneer in autonomous retail technology, has raised €15 million in a Series A funding round. The comp...
23/10/2024

Sensei, a European pioneer in autonomous retail technology, has raised €15 million in a Series A funding round. The company will use the capital to radically scale its business, with plans to open 1,000 fully autonomous stores by 2026.

Sensei has secured €15 million in Series A funding to significantly scale its business and open 1,000 fully autonomous stores by 2026.

According to new data, Malaysia has become the world’s second-largest importer of plastic waste from the European Union....
22/10/2024

According to new data, Malaysia has become the world’s second-largest importer of plastic waste from the European Union.

Eurostat reveals that in 2023 the European Union exported 8.5 million tons of waste materials—including paper, plastic, and glass—to other countries, marking a 34% increase from 2022. Notably, over 20% of this waste was destined for Malaysia, with plastic waste exports to the country rising by 35% compared to the previous year.

According to new data, Malaysia has become the world's second-largest importer of plastic waste from the European Union.

CMC Networks, a global Tier 1 service provider, has introduced its CMC Fusion™ networking platform across 51 African cou...
18/10/2024

CMC Networks, a global Tier 1 service provider, has introduced its CMC Fusion™ networking platform across 51 African countries and 11 in the Middle East. The CMC Fusion™ platform provides customers with consistent performance and application experiences when connecting multiple countries and cloud environments in Africa and the Middle East.

CMC Networks has launched its CMC Fusion™ networking platform across 51 countries in Africa and 11 in the Middle East.

China’s imports of liquefied natural gas (LNG) have risen by 15% year-on-year, according to a report by Reuters based on...
17/10/2024

China’s imports of liquefied natural gas (LNG) have risen by 15% year-on-year, according to a report by Reuters based on data from the London Stock Exchange Group (LSEG). This growth rate significantly outpaced the approximately 5% increase in South Korea and the 2.5% growth recorded in Japan over the same period.

Cumulatively, China has imported nearly 80 billion cubic meters of LNG this year, the highest volume since 2021 for the same period.

Frasers Group, owned by Mike Ashley, is set to expand into Malta and Africa following its acquisition of a ‘significant ...
16/10/2024

Frasers Group, owned by Mike Ashley, is set to expand into Malta and Africa following its acquisition of a ‘significant non-controlling’ stake in a retail and distribution company.

The London-listed company has invested in Hudson Malta, which operates in 36 African countries. This investment will lead to the launch of Sports Direct and USC stores in Malta, with the first outlet expected to open by 2025.

Frasers Group is planning to expand into Malta and Africa via acquiring a 'significant non-controlling' stake in Hudson Malta.

E.V.A. Biosystems, a start-up originating from the University of Edinburgh, has unveiled a groundbreaking “smart” plasti...
16/10/2024

E.V.A. Biosystems, a start-up originating from the University of Edinburgh, has unveiled a groundbreaking “smart” plastic material designed to combat ocean pollution. This innovative plastic can detect when it enters marine environments and will biodegrade itself completely without generating harmful microplastics.

E.V.A. Biosystems has innovated a new type of "smart" plastic that detects when it’s in the ocean and self-decomposes.

The Indonesian government is set to hold an interministerial meeting to address concerns over the entry of Chinese e-com...
09/10/2024

The Indonesian government is set to hold an interministerial meeting to address concerns over the entry of Chinese e-commerce platform Temu into the country.

The meeting, involving the Cooperatives and Small and Medium Enterprises (SMEs) Ministry, the Trade Ministry, and the Communications and Information Ministry, is aimed at preventing Temu from operating in Indonesia.

The Indonesian government is preparing to hold a meeting to oppose the entry of Chinese e-commerce giant Temu.

Social media users in the European Union will soon be able to file complaints against platforms like Facebook, TikTok an...
08/10/2024

Social media users in the European Union will soon be able to file complaints against platforms like Facebook, TikTok and YouTube regarding content moderation through a new independent body in Ireland.

New body to handle content disputes between social media users in the European Union and Facebook, TikTok, YouTube

Rob Bonta, the Attorney General of California, announced that the state is filing a lawsuit against ExxonMobil, accusing...
07/10/2024

Rob Bonta, the Attorney General of California, announced that the state is filing a lawsuit against ExxonMobil, accusing the company of environmental damage and misleading the public about recycling practices.

California files a lawsuit against ExxonMobil over “misleading” plastic recycling practices and environmental damage

Transense Technologies announced on Wednesday that its Translogik division has formed a strategic distribution partnersh...
04/10/2024

Transense Technologies announced on Wednesday that its Translogik division has formed a strategic distribution partnership with AssetFindr to facilitate its expansion into the Southeast Asian market.

AssetFindr, a Jakarta-based provider of maintenance management software and IoT device solutions, will introduce Translogik’s tyre inspection and data capture tools to the Southeast Asian market for the first time.

Transense Technologies' Translogik division has partnered with AssetFindr to support its expansion into Southeast Asia.

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