Category Archives: Business

Driving Inclusive Growth: India Inclusive Summit 2026 Convenes National Stakeholders

New Delhi, May 22: The National Association for the Blind (NAB Delhi) successfully hosted the India Inclusive Summit 2026 at Silver Oak, India Habitat Centre, New Delhi, bringing together policymakers, corporate leaders, accessibility experts, technology innovators, and members of the disability community to discuss the future of accessibility and inclusive development in India.

Organized by NAB Delhi with Knowledge Partner Tatsat Foundation, and in partnership with the Department of Empowerment of Persons with Disabilities (DEPwD), Ministry of Social Justice & Empowerment, Government of India, HCL Tech, HCL Foundation, and United Way of Delhi, the summit created a collaborative platform to address key issues around digital accessibility, inclusive workplaces, accessible technology, and empowerment of persons with disabilities (PwDs).

The summit commenced with an inaugural ceremony featuring a welcome address and context-setting by Mr. Prashant Ranjan Verma, General Secretary, NAB Delhi. A short film showcasing NAB Delhi’s initiatives and its ongoing efforts towards empowering visually impaired individuals through accessibility, education, training and advocacy, was also screened during the opening session.

Speaking on the occasion, Mr. Prashant Verma, General Secretary, National Association for the Blind (NAB Delhi) said, “India Inclusive Summit 2026 was envisioned as a platform to bring together diverse stakeholders to drive meaningful conversations around accessibility, inclusion, and empowerment. The summit reflects our commitment to ensuring that accessibility becomes an integral part of policy, technology, workplaces, and everyday experiences for persons with disabilities.”

One of the key highlights of the event was the presentation of the Inclusive India Awards 2026, recognizing institutions, implementation agencies, and individuals for their exceptional contribution towards promoting accessibility and inclusion in society. Microsoft received the Best Institution Award for making their Windows Operating system inclusive and accessible for all, including persons with disabilities. Mumbai based company BarrierBreak received the Inclusive India Award, in the Best Service Provider category while the Best Individual award was given to the blind lawyer and accessibility expert Amar Jain.

The event was graced by Chief Guest Ramdas Athawale, Minister of Social Justice and Empowerment, Government of India, who emphasized the importance of creating equal opportunities and strengthening accessibility initiatives across sectors.

On this occasion, Ramdas Athawale said, “India’s progress must be inclusive and accessible for all citizens. The government remains committed to promoting equal opportunities, accessible infrastructure, digital inclusion, and empowerment of PwDs. Platforms such as the India Inclusive Summit play an important role in encouraging dialogue, innovation, and collective action towards building a more inclusive nation.”

The summit featured multiple keynote presentations and panel discussions focused on strengthening India’s accessibility ecosystem. A keynote session by the Microsoft Windows Narrator Team highlighted the growing role of assistive technologies and accessible digital experiences in enabling greater independence for PwDs.

A major discussion during the summit centered around ‘Policy to Practice: India’s Digital Accessibility Landscape’, where accessibility experts and policy leaders discussed India’s evolving legal frameworks, implementation challenges, and the need for stronger adoption of accessibility standards across digital platforms. The session also explored how public and private stakeholders can work together to ensure that accessibility commitments translate into meaningful and inclusive user experiences.

The session on ‘Accessibility as Business Strategy’ highlighted how accessibility is increasingly being recognized as a driver of innovation, customer engagement, workforce diversity, and long-term business value. Industry leaders from technology, accessibility, and academic sectors shared insights on integrating accessibility into product development, workplace culture, and organizational strategy rather than treating it solely as a compliance requirement.

Another important discussion focused on the ‘Impact of Accessible ICT on Lives of PwDs’, where speakers shared how accessible information and communication technologies are transforming education, employment, communication, and independent living for PwDs. The session also showcased initiatives such as the Sugamya Bharat App, Shravan Audio Library, and Aditi AI, highlighting the role of technology-led innovation in improving accessibility and inclusion at scale.

The summit also featured a keynote presentation by Google on accessibility initiatives and inclusive design practices. The session highlighted how global technology companies are increasingly prioritizing accessible innovation to create digital products and experiences that are inclusive for all users.

The final session of the summit, ‘Corporate Action on Empowerment of Persons with Disabilities’, explored the role of the corporate sector in driving inclusive employment, accessible workplaces, skill development, and sustainable social impact initiatives.

Dr. Sumi Gupta, Director, Tatsat Foundation, added, “Accessibility is essential for equitable growth and social participation. It is through education, training and inclusion, can a person with disabilities achieve financial independence. Through this summit, we aimed to encourage stronger collaboration between government, industry, and civil society to ensure that innovation and development remain inclusive and accessible for everyone.”

The summit concluded with a conference summary and networking session, reinforcing a shared commitment among stakeholders towards advancing accessibility-led innovation and creating a more inclusive future for India.

GMM Pfaudler Limited reports Q4 FY26 results

 Mumbai, May 22 : GMM Pfaudler Limited, global leader in corrosion-resistant technologies, systems, and services, announces its fourth quarter and annual  results for the period ended March 31, 2025. Includes Exceptional items – Labour Code provision & Waghäusel severance.

Key Highlights

Consolidated:

·Revenue up 10% YTD and Q4FY26 up 17% YoY.

·EBITDA up 11% YTD and Q4FY26 down 10% YoY.

·PAT up 5% YTD and Q4FY26 up 155% YoY

·Order Intake up 20% YTD and for Q4FY26 up 32% YoY.

·Backlog up 34% YTD.

India:

·Revenue ₹ 1,034 Crores up 12% YTD and Q4FY26 ₹ 289 Crores up 15% YoY.

·EBITDA ₹ 135 Crores up 22% YTD and Q4FY26 ₹26 Crores down 24% YoY.

·Order Intake ₹ 967 Crores remains flat YTD and YoY.

·PAT ₹ 59 Crores up 40% YTD and Q4FY26 ₹16 Crores up 8% YoY.

Other Business Highlights:

·Mr. Gregory Gelhaus appointed as Group Chief Executive Officer.

·Mr. Ankit Nayyar appointed as Deputy Chief Financial Officer.

·The Board recommended a final dividend of ₹1 per equity share, subject to requisite approvals. Total dividend for FY26 (including interim dividend) would be ₹2 per equity share.

Management Comment

Commenting on the Company’s Q4 & FY26 results, Mr. Tarak Patel, Managing Director, said,

“The company delivered steady performance this year, achieving 10% revenue growth and 11% EBITDA growth despite a challenging global environment marked by geopolitical uncertainty, macroeconomic headwinds, and subdued demand in our international business, particularly in European. India continues to stand out, with 12% revenue growth, 22% EBITDA growth, and a 40% increase in profit after tax. In Europe, we have implemented decisive cost measures, including the closure of our UK facility and right-sizing operations in Germany, France, and Switzerland. We also commenced operations in our new Poland manufacturing facility, which will serve as a low-cost production hub for the region and enhance our long-term competitiveness. In Q4, strong operational execution was offset by margin pressure resulting from geopolitical tensions in West Asia and broader macroeconomic uncertainty”

He further added, “Order intake during the year improved by 20%, driven by non-traditional markets such as Defence, Oil & Gas and Nuclear, which further reinforces our diversification strategy.  Opening backlog stands at ₹ 2,194 crores a 34% increase over previous year giving us strong revenue visibility for the coming year. However, global economic conditions and geopolitical risks continue to create a challenging environment.

As part of our ongoing global transformation, we have appointed Mr. Gregory Gelhaus as Group CEO and Mr. Ankit Nayyar as Deputy CFO. These appointments will accelerate the execution of our strategic vision and will be instrumental in shaping the organization’s next phase of growth”. 

Saatvik Green Energy Crosses INR 45,484 Mn in FY26 Revenue, Emerges as India’s Integrated Renewable Powerhouse

Chandigarh, May 22: Saatvik Green Energy Limited, one of India’s leading integrated solar energy solutions providers, announced its audited financial results for the quarter and year ended March 31, 2026 (Q4 & FY26).

The Company reported strong operational and financial performance during FY26, with revenue from operations growing by 111% year-on-year to ₹45,484 Mn, supported by sustained business momentum, manufacturing scale-up, and continued execution across key solar segments. During the year, Saatvik further strengthened its manufacturing footprint, diversified its solutions portfolio, and continued investments toward building a fully integrated solar manufacturing ecosystem.

The Company’s ongoing expansion initiatives, diversified clean energy portfolio, and continued backward integration efforts continue to strengthen Saatvik’s positioning across utility-scale, distributed solar, EPC, and integrated energy solutions segments. During the year, the Company further expanded its offerings across advanced PV modules, inverters, transformers, energy storage solutions, and turnkey energy solutions, while maintaining focus on high-efficiency and differentiated product offerings aimed at supporting customer value creation, operational reliability, and long-term margin resilience. 

Commenting on the performance, Mr. Prashant Mathur, Chief Executive Officer, Saatvik Green Energy Limited, said, “FY26 was a defining year for us, marked by our successful listing on the Indian stock exchanges and the delivery of our highest-ever Revenue, EBITDA and PAT performance. Supported by strong order execution, manufacturing scale-up and growing customer relationships, we achieved our highest-ever annual production of 3,162 MW with effective capacity utilization of 84.07%, further strengthening our position as one of India’s fastest-growing renewable energy companies.”

“Our Ambala facility continues to operate at its full 4.8 GW module manufacturing capacity, while our Odisha integrated manufacturing project remains on track and represents a key milestone in Saatvik’s journey towards full value chain integration. During the year, we expanded our Odisha solar cell capacity plan from 2.4 GW to 3.6 GW, commissioned a 2 GW in-house EPE encapsulant manufacturing facility with expansion plans to 5 GW, and announced our planned entry into ingot and wafer manufacturing with a proposed 6 GW capacity.”

He further added, “FY26 also marked important strategic milestones across our clean energy solutions portfolio. Our order book stood at 5.89 GW with leading IPPs and utilities, while we expanded into transformer manufacturing, launched the UDAY Series of on-grid inverters, and strengthened our presence across hybrid and off-grid inverters and BESS solutions with B2C solar kits set to launch soon.”

“Our sustainability efforts were also recognized globally as Saatvik was awarded the Bronze Medal by EcoVadis and ranked in the 79th percentile among assessed companies worldwide. Supported by favourable policy initiatives and India’s long-term renewable energy ambitions, we believe Saatvik is strongly positioned for its next phase of growth with expanding manufacturing capacities, stronger integration and sharper execution capabilities,” he added. 

Key Financial Highlights 

(Audited; ₹ in Mn unless stated otherwise) 

Operational & Strategic Highlights (FY26) 

•        Highest-ever annual production during FY26 stood at 3,162 MW, supported by effective capacity utilization of 84.07%.

•        Order book remained strong at approximately 5.89 GW as of March 31, 2026, offering medium-term business visibility.

•        Ambala facility continued operations at 4.8 GW module manufacturing capacity during FY26.

•        Odisha integrated facility comprising 4 GW module and expanded 3.6 GW Phase 2 solar cell capacity remained on track, with tool moving expected to commence from Q1 FY27.

•        Successfully commissioned a 2 GW EPE encapsulant manufacturing facility with plans to expand capacity to 5 GW.

•        Announced plans for entry into ingot and wafer manufacturing with a proposed capacity of 6 GW.

•        Expanded product portfolio through launch and development of hybrid inverters, off-grid inverters, B2C solar kits, transformer manufacturing and BESS-related solutions.

•        Solar Pump business revenues scaled from ₹2 crore to ₹47 crore during FY26. 

Outlook 

Saatvik enters FY27 with a strong strategic roadmap centered around manufacturing integration, product diversification, and operational scale-up.

Key focus areas for the coming year include: 

•        Advancing Odisha integrated manufacturing expansion and commencement of tool moving activities from Q1 FY27.

•        Scaling integrated module, solar cell, encapsulant, ingot and wafer manufacturing capabilities.

•        Strengthening presence across distributed solar, inverter, transformer, Solar Pump and BESS ecosystems.

•        Expanding high-efficiency and value-added product offerings across domestic markets.

•        Continuing operational efficiency initiatives, backward integration and disciplined capital allocation.

The Company remains committed to supporting India’s renewable energy ambitions by enabling reliable, scalable, and affordable solar energy deployment through integrated manufacturing and technology-led clean energy solutions.

AD Ports Group and e& Deliver AI-Ready Terrestrial Digital Backbone Across Logistics Infrastructure

Abu Dhabi, UAE – 21 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry, and logistics solutions, and e& UAE today announced the successful deployment of an AI-ready high-capacity terrestrial connection, linking major maritime and logistics assets across the Group’s portfolio.

The new high-capacity network extends AD Ports Group’s terrestrial digital backbone to more than 1,000 kilometers, seamlessly connecting the Group’s strategically located assets in Abu Dhabi. This enables the continuous streaming of high-volume sensor data, video feeds, and IoT signals, creating a fully integrated environment ready for machine learning and automated decision-making.

Designed for ultra-low latency, this high-bandwidth terrestrial connectivity establishes a robust foundation for AI models to process data and deliver real-time inference within milliseconds.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “The future of global trade is intelligent and predictive. Under the guidance of our wise leadership in the UAE, we are embracing and leading this change by collaborating with globally leading technology companies to help us ensure that digital intelligence remains at the heart of our operations, driving global trade and supply chain resilience.”

Masood M. Sharif Mahmood, Group CEO, e& and CEO, e& UAE, said: “Advanced connectivity is now essential to the way major industrial and logistics hubs operate, scale and compete. Through this collaboration with AD Ports Group, e& UAE has delivered a future-ready digital backbone that powers speed, security and scalability, while creating the foundation for more advanced automation, analytics and AI-led operations.

“With e&’s leadership in fibre connectivity, we are not just connecting infrastructure; we are shaping the future of trade, logistics, and innovation for the entire nation.”

This strategic initiative marks another significant milestone in AD Ports Group’s digital transformation journey, further strengthening the Group’s digital resilience across its expanding global portfolio. In 2025, AD Ports Group announced the phased rollout of Low Earth Orbit (LEO) satellite connectivity across its global operations, aimed at enabling real-time data exchange with vessels and delivering always-on connectivity for ports and terminals, driving new efficiencies and fuel savings.

By integrating its terrestrial digital backbone with LEO satellite services and existing radio networks, the Group has established a resilient, multi-layered connectivity architecture that ensures sovereign, uninterrupted data flow under all conditions. 

Indian Markets End Flat Amid West Asia Tensions; Selective Buying Cushions Losses !

May 21 (BNP): Indian equity markets ended largely flat on Thursday as geopolitical tensions in West Asia weighed on investor sentiment, while selective buying in broader markets helped benchmark indices limit losses and avoid a sharper decline.

The benchmark Sensex closed at 75,183.36, down 135.03 points or 0.18 per cent, while the Nifty 50 settled nearly unchanged at 23,654.70, slipping just 4.30 points or 0.02 per cent, reflecting cautious market participation amid global uncertainty.

Market sentiment remained under pressure due to concerns over escalating geopolitical developments in West Asia, prompting selling in sectors such as information technology (IT), fast-moving consumer goods (FMCG), and financial services. Heavyweight stocks including Bajaj Finance, Infosys, Tech Mahindra and Hindustan Unilever emerged among the key laggards during the trading session.

Despite weak benchmark momentum, broader markets showed resilience. Mid-cap stocks traded subdued, while small-cap counters outperformed and ended higher, indicating selective investor confidence in specific segments. Sectorally, the cement pack emerged as the top performer with gains of over 2 per cent, followed by strength in realty and metal stocks. On the other hand, FMCG and IT sectors witnessed notable selling pressure.

The Indian rupee recovered strongly against the U.S. dollar to close at 96.15, registering gains of 0.68 per cent, while the India VIX, a measure of market volatility, eased by around 3.5 per cent, signalling a marginal decline in investor anxiety levels.

Market experts indicated that near-term direction is likely to remain dependent on geopolitical developments, global central bank signals and macroeconomic indicators. Technically, analysts see resistance for Nifty in the 23,700–23,800 range, with the 24,000 mark acting as a key psychological barrier, while immediate support is placed between 23,500 and 23,600.

Overall, markets remained range-bound as investors balanced geopolitical risks with selective domestic strength, keeping benchmark indices largely stable despite external headwinds.

ATM 2026 confirms revised September dates

Dubai, United Arab Emirates, May 21 : RX has announced that Arabian Travel Market  2026 will now take place from 14–17 September 2026 at Dubai World Trade Centre , following extensive consultation with exhibitors and industry stakeholders, reflecting ATM’s commitment to listening to the needs of the global tourism industry.

Danielle Curtis, Regional Portfolio Director – UAE, RX Global, said:

 “We have been listening and working closely with our exhibitors, partners and stakeholders from across the global travel industry, and the decision to move Arabian Travel Market 2026 to 14–17 September reflects that ongoing dialogue and collaboration.

“Our priority is always to ensure that ATM delivers the strongest possible platform for business, networking and partnership opportunities for the international travel community. Following industry feedback, we are pleased that these new dates will allow exhibitors, buyers and visitors from around the world to maximise their participation and engagement at the event.

“We would like to thank our strategic partners, including Dubai World Trade Centre, the Dubai Department of Economy and Tourism, IHG and Al Rais Travel, for their continued collaboration and support in making these revised dates possible. Together, we remain committed to delivering a world-class event that supports the continued growth and evolution of the global travel and tourism industry.”

Now in its 33rd edition, Arabian Travel Market serves as a key global platform connecting destinations, travel suppliers, hospitality brands, airlines, technology providers and industry professionals from across the travel ecosystem. 

ATM 2026 will continue to be held under the theme “Travel 2040: Driving New Frontiers Through Innovation and Technology”, exploring the trends, technologies and innovations shaping the future of global travel. The event will spotlight ATM Travel Tech, the dedicated co-located show focused on the rapidly evolving travel technology sector, alongside the Tech & Innovation Zone, an immersive hub showcasing the latest developments in AI, immersive experiences, smart mobility, fintech, robotics and sustainable travel solutions.

The extensive ATM conference programme, which includes the Global Stage, Future Stage, located within the Tech & Innovation Zone, and Experience Hub, will bring together key tourism leaders and experts to examine the evolving challenges and opportunities shaping international tourism, with dedicated sessions exploring destination resilience, traveller experience, aviation innovation, digital transformation and sustainable long-term growth strategies.

The programme will include leading global research organisations, strategists and technology specialists to deliver data-driven insight into the future of travel. Confirmed contributors on the Global Stage include Tourism Economics, an Oxford Economics company, delivering the session “ATM Annual Trends Report: Middle East Momentum & Market Shifts”.

The company will be joined by Euromonitor’s Stephen Dutton, who will lead a session titled “The State of Travel: Inflation, Polycrisis & the New Travel Reality.”

The Future Stage, located within the Tech & Innovation Zone, will be hosted by BBC’s Nick Kwek, Travel and Tech Broadcaster and feature sessions led by research partners including Dragon Trail, where Sienna Parulis-Cook, Director of Marketing & Communications, will present “Welcoming Back the Chinese Tourism Market: Insights for the Middle East” and Videc, which will discuss “Money Talks: Growth, M&A and consolidation in Global Travel”, outlining the insights, data and strategies for investment and growth in travel technology. 

The Experience Hub will welcome Rana Nawas, Corporate Strategist & Podcast Host, who will deliver a workshop titled “The Modern Leader and Future of Workforce.” The programme will also feature several sessions, including a high-level, buyer-focused event by ICCA titled “Beyond Borders: The Middle East’s Collaborative Vision for a Global Business Events Future”, alongside further peer-to-peer conversations and round table discussions.

ATM 2026 is expected to welcome thousands of travel professionals and exhibitors from around the world following the confirmation of the revised September dates, highlighting Dubai’s role as a global platform for tourism industry dialogue, collaboration and innovation.

Oil above US$100/bbl revives Windfall Tax Debate across Four Continents

LONDON/HOUSTON/SINGAPORE, May 21– Oil prices above US$100 per barrel have triggered windfall tax proposals in Brazil, the EU, the US, and Australia. A new Wood Mackenzie report warns that fiscal policy design has a long-term impact on Upstream investment and production.

The cycle is familiar. As oil prices push past US$100 a barrel, politicians demand a windfall tax on energy companies. But, by the time legislation passes, prices have often already peaked.

That cycle is repeating in 2026. In recent weeks, Brazil introduced a temporary export tax. Five EU member states campaigned for reinstatement of the 2022-23 solidarity contribution levy (SCL). US senators relaunched a windfall tax bill targeting the largest oil producers and importers. The Australian senate debated a new gas export tax proposal.

Wood Mackenzie’s May 2026 Fiscal Service report, drawing on its proprietary global database and analyses of upstream fiscal changes across more than 150 jurisdictions since 2002, finds some consistent patterns. Governments with flat tax rate systems are most likely to seek new windfall levies when prices surge. Those with progressive fiscal systems, where the government’s revenue share moves automatically with prices, rarely need to. Oil companies object strongly to fiscal disruption; when it occurs, they question future investment in the affected sector.

“The current debate is following a script we have seen before, and the major uncertainty is how long the price spike will last. In the current situation, that depends on how long supply disruption lasts and if there is any lasting damage,” said Graham Kellas, SVP, Global fiscal research at Wood Mackenzie. “The longer prices stay elevated; the more governments are expected to act. The question is whether they can design something that works for the long term, or are they simply creating another measure that compounds future fiscal uncertainty?”

The pace of legislative action is another problem. Designing and passing a windfall tax mechanism can take several months. Prices may have peaked by then. Many proposals are never implemented. Those that are, often raise far less revenue than governments initially projected.

Key details

• Legal exposure: Brazil’s export tax faces legal challenge, with cases related to its 2023 temporary tax still unresolved. The EU’s 2022-23 SCL is subject to ongoing proceedings with ExxonMobil. Algeria’s 2006 windfall tax went to international arbitration — PSC contractors won after six years.
• Long-term returns: the largest companies measure returns over decades, not months, and target relatively stability over time, with price spikes balanced by price crashes.  An unpredictable fiscal environment disrupts that.
• Long-term windfall tax policy benchmark: the UK’s proposed oil and gas price mechanism (OGPM), due to replace the energy profits levy by 2030, applies only above US$90/bbl for oil or GBP0.9 per therm (US$12/mcf) for gas, and only on revenue above those thresholds. It is predictable and can be built into investment models.

Background

Windfall tax episodes have recurred throughout this century. In 2006-08, new progressive taxes were introduced in Alaska, Algeria, China, Ecuador, Pakistan, and Venezuela. India’s 2022 windfall tax changed its rate every two weeks before being abolished in December 2024. The UK’s energy profits levy, also introduced in 2022, has had its rate, timeframe, and allowances changed multiple times. The longer prices stay elevated; the more governments are expected to act.

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Saint-Gobain strengthens regional footprint with new manufacturing facility in Ras Al Khaimah

Ras Al Khaimah, May 21: Global leader in light and sustainable construction, Saint-Gobain inaugurated its new construction chemicals manufacturing unit in Ras Al Khaimah, reinforcing its long-term commitment to the UAE market and expanding its regional product range offer along with production capabilities.

The facility inauguration ceremony was attended by Saint-Gobain senior leadership, including  Eastern Mediterranean and Middle-East CEO Antoine Ghazal and Gulf Countries CEO Emmanuel Jacquot, alongside  Consul General of France in Dubai and the Northern Emirates His Excellency Jean-Christophe Paris, Ras Al Khaimah Economic Zone (RAKEZ) Chief Experience Officer Ian Hunt, and key stakeholders from the construction sector.

Located in RAKEZ’s Al Ghail Industrial Zone and developed across 15,000 m², the facility has been operational since the second quarter of 2025, manufacturing a comprehensive range of mortar solutions, including premixed plasters, tile adhesives and grouts, screeds, and more. With a monthly production capacity more than 10,000 tonnes, the plant serves customers across the UAE, while laying the foundation for further expansion through additional production lines and increased storage capacity.

Emmanuel Jacquot said “As the world-wide leader in light and sustainable construction, we are completing our industrial set-up with our new plant of Construction Chemicals in Ras Al Khaimah. This new facility reflects our trust in the UAE’s long-term vision. Through this investment, we reaffirm our commitment to the UAE, strengthening local manufacturing, enhancing service capabilities, customer intimacy and contributing to the country’s industrial ambition.”

Commenting on why the company chose Ras Al Khaimah, he added, “Our decision to establish operations in Ras Al Khaimah was driven by its strategic location, enabling greater customer proximity and faster, more responsive service to the Northern Emirates construction sites. This complements our existing large-scale manufacturing hubs in Abu Dhabi and Dubai, allowing Saint-Gobain to expand our reach and deliver more efficiently across the UAE. Ras Al Khaimah, and RAKEZ in particular, provided the right environment for this expansion—with strong industrial infrastructure, ease of doing business, and seamless establishment support. This has enabled us to develop a facility that aligns with our production and supply chain requirements while bringing us closer to our customers.”

RAKEZ Group CEO Ramy Jallad said: “Saint-Gobain’s new set-up marks another significant milestone for Ras Al Khaimah’s industrial sector and reflects the steady momentum the emirate continues to see in construction-related industries. Manufacturers today are looking for environments where they can scale efficiently, operate with confidence, and stay closely connected to their markets. At RAKEZ, we continue to strengthen the infrastructure, services, and industrial environment needed to support that growth journey over the long term.”

The facility reflects the company’s continued investment in strengthening its regional manufacturing and supply chain capabilities and expanding its product range offer. With growing demand across the UAE’s construction sector, and notably for hospitality, non-residential buildings and infrastructures, the new plant enhances the company’s ability to serve key markets more efficiently while supporting future expansion plans from its Ras Al Khaimah base.

One-carbon Therapeutics Strengthens Board of Directors with Appointment of Stefan Larsson and Raj Shah

Solna, Sweden, May 21, 2026. One-carbon Therapeutics AB, a clinical-stage biotechnology company pioneering first-in-class cancer therapies, today announced the appointment of Stefan Larsson, MD, PhD, and Raj Shah, MD, as additional non-executive directors to its Board of Directors, effective April 28th. The appointments further strengthen scientific, operational and transactional expertise to the Board as the Company progresses dose escalation in its ODIN Phase 1/2 study of TH9619 as monotherapy in solid tumors and prepares for its next stage of growth.

The additions follow a period of strong execution for One-carbon Therapeutics, including the dosing of the first subject in the ODIN Phase 1/2 study, the closing of an oversubscribed SEK 153 million (€13.9 million) private placement, and a strategic molecular collaboration with Tempus. Dr Larsson and Dr Shah will contribute to shaping the Company’s clinical development strategy and its trajectory toward institutional financing.

“We are delighted to welcome Stefan and Raj as new members off our Board at this pivotal moment for One-carbon Therapeutics,” said Ana Slipicevic, Chief Executive Officer of One-carbon Therapeutics. “Stefan’s clinical insight and his lifelong focus on outcomes that matter to subjects directly reinforce our disciplined, data-driven development approach. Raj’s experience across healthcare investing, banking and clinical practice will be instrumental as we deliver against our milestones and engage with the next generation of partners and investors. Under the efficient leadership of our Chairman, Antoine Yver, the board brings exactly the perspectives we need as we translate our science into clinical impact.”

About the new Board members

Stefan Larsson, MD, PhD

Dr. Larsson trained at the Karolinska Institute (KI), Harvard Medical School and the MRC Human Genetics Unit in Edinburgh, and is an Associate Professor at KI. He spent 25 years with the Stockholm office of The Boston Consulting Group (BCG), where he founded and first led BCG’s global Payer and Provider sector and its Health Systems sector, and led BCG’s work on value-based health care. He is co-founder and Board Chair of the International Consortium for Health Outcomes Measurement (ICHOM), and a Distinguished Fellow with the World Economic Forum’s Health and Healthcare group. His book The Patient Priority was published by McGraw Hill in November 2022. Dr. Larsson has authored more than 30 peer-reviewed scientific publications and serves as a board member of Industrifonden, Symcel AB and Caneon AB.

Raj Shah, MD

Dr. Shah is Partner and Head of Healthcare at Nordic Capital Advisors, a position he has held since 2015, and brings over 30 years of experience across the healthcare industry. He holds several non-executive positions and serves on the board of several of Nordic Capital’s most significant portfolio investments. His healthcare experience spans both clinical practice, having initially qualified and practised as a cardiac surgeon at Oxford, and extensive transactional experience gained as Co-Head of Goldman Sachs’ healthcare investment banking practice, where he advised private equity and corporate clients.

About One-carbon Therapeutics

One-carbon Therapeutics AB is a clinical-stage precision oncology company pioneering novel cancer therapies built on a deep understanding of cancer biology. Its lead program, TH9619 is a first-in-class, potent small-molecule inhibitor of MTHFD1 and MTHFD2, overexpressed enzymes in cancer cells. This inhibition induces toxic folate trapping, starving tumors of thymidine, a critical DNA building block, leading to DNA damage, thereby causing cancer cell death. By combining strong mechanistic insight with rigorous clinical development, One-carbon Therapeutics aims to advance potent anti-tumor activity while maintaining improved tolerability for patients with solid tumors.

The company is headquartered in Sweden and is committed to translating cutting-edge science into transformative clinical impact for subjects worldwide.

JFrog Report Exposes India’s Software Supply Chain Crisis in new report

Bangalore, May 21 :  JFrog Ltd. , the Liquid Software company and creators of the JFrog Software Supply Chain Platform, the system of record for trusted software artifacts, binaries, and AI assets, today released its 2026 Software Supply Chain Security State of the Union, a global study examining how organizations are building, securing, and managing software in an increasingly AI-driven economy. The findings reveal that Indian organisations are among the most AI-active in the world, but critical gaps in malicious package detection, container security, and secrets scanning leave them exposed as attackers weaponise AI models, compromise developer tooling through stolen maintainer credentials, and infiltrate open-source ecosystems at unprecedented scale.

Last year was the most dangerous on record for software developers globally, wherein malicious npm packages surged 451% year-over-year to more than 171,000 unique instances. npm overtook Maven as the most-used enterprise ecosystem for the first time, and a wave of npm supply chain attacks, including the self-replicating “Shai-Hulud” worm. For India, where defensive tooling lags significantly, that exposure is especially acute.

“AI is accelerating how software is built, but it is also expanding the potential attack surface and increasing vulnerabilities,” said Sudhir Narla, General Manager for JFrog India, and VP of Customer Success. “We’re seeing a shift from isolated vulnerabilities to systemic risk across the entire software supply chain. Indian organisations will need to move beyond traditional security approaches and rethink how they establish trust in increasingly AI powered, automated environments.”

Key Findings from the Report:

● India Has the World’s Largest Software Security Blind Spots: 65% of Indian organisations lack malicious package detection and 71% don’t use container security. With a 451% surge in malicious packages for npm – the largest enterprise ecosystem – this lack of adequate tooling puts India’s enterprise infrastructure at risk.

● DevSecOps Teams Are Drowning in AI Validation: Indian teams now spend 51% of their time reviewing and hardening AI-generated code, a responsibility that didn’t exist two years ago. AI hasn’t reduced work; it has shifted the burden from writing code to validating it, while security tooling lags.

● Engineers Don’t Trust the Code AI Writes: 53% of Indian engineers treat AI generated code only as a starting point, reviewing everything before use, while a further 11% rewrite the fix entirely from scratch. The skepticism on the ground stands in sharp contrast to leadership confidence.

● A Dangerous Confidence Gap Between Leadership and the Front Line: 97% of organisations claim certified AI model governance, yet 59% of IT leaders report full provenance visibility, but 48% still need a week or more to produce audit-ready proof.

● Shadow AI Remains Largely Unchecked: India leads surveyed regions on automated Shadow AI detection at 60%, but that still means 40% of Indian organisations have no automated way to catch unsanctioned AI tools operating inside their developer environments.

● The Attack Surface Has Fundamentally Changed: 58% of all new software packages in the last year came from Hugging Face, totaling 1.4 million new artifacts and making model registries the largest single input to the software supply chain. At the same time, these unvetted AI models can carry live payloads, increasing organizations’ risk of a live attack.

To explore the full findings of this year’s report and learn how your organization can close the AI governance gap, download the JFrog 2026 Software Supply Chain Security State of the Union. You can also check out our blog or register to join JFrog Security and developer experts for an upcoming webinar detailing the challenges, threats, and necessary actions for securing your software supply chain in the AI era.