FINWIRES · TerminalLIVE
FINWIRES

Dana Gas Partners With UK's Levidian for Graphene Production in UAE

By

-- Dana Gas (ADX:DANA) is collaborating with UK-based advanced materials company Levidian to produce graphene in Sharjah, United Arab Emirates.

The partners plan to develop the Sharjah Graphene Park in phases, initially deploying Levidian's LOOP technology, which converts methane into graphene and hydrogen, to establish local production capability, the natural gas company said Wednesday. The project is expected to scale into a multi-unit production cluster following the initial phase.

The first phase is estimated to cost between $2 million and $5 million, while early expansion could require $5 million to $50 million, with the potential to exceed $50 million as the project develops in line with market demand.

Related Articles

Asia

Futong Technology Says Potential Stake Sale Could Trigger Takeover Offer; Shares Up 9%

Futong Technology Development (HKG:0465) said Chairman Chen Jian is in talks to sell a controlling stake in the company that could trigger a mandatory general offer, according to a Wednesday Hong Kong bourse filing.Chen signed a memorandum of understanding on April 2 with an independent third-party potential buyer for the sale of 187.4 million shares, representing about 60.21% of the company's issued share capital.No formal sale and purchase agreement has been signed, and discussions are ongoing.Shares of the enterprise IT infrastructure product provider were up 9% in Wednesday afternoon trade.

$HKG:0465
US Markets

Hong Kong Private Sector Contracts Further in April as Costs Surge

Hong Kong's private sector business conditions deteriorated for a second straight month in April as output and new orders declined amid sharply higher costs linked to the war in the Middle East, according to data released Wednesday by S&P Global.The S&P Global Hong Kong SAR Purchasing Managers' Index fell to 48.6 in April from 49.3 in March, marking the sharpest deterioration in business conditions in 10 months.Output contracted at the fastest pace since June 2025, while new orders declined for the second consecutive month as firms cited subdued economic conditions and weaker customer demand.Demand from mainland China also weakened for the first time in seven months, although new export orders returned to growth.Input costs rose at the fastest pace since October 2011, driven by surging raw material, oil, and fuel prices following the outbreak of war in the Middle East. Selling prices also increased at the quickest pace since August 2023 as firms sought to protect margins.Businesses remained pessimistic about the year-ahead outlook, with concerns centered on geopolitical uncertainty and intensifying market competition."The S&P Global Hong Kong SAR PMI data for April pointed to another deterioration in business conditions, signalling a muted start to the second quarter of the year," Usamah Bhatti, economist at S&P Global, said."Firms commonly linked the latest deterioration in conditions to the war in the Middle East and its associated impact on prices, in particular for oil and fuels," he added.Backlogs of work fell for a second straight month, while employment declined for the first time in three months as firms reduced headcount through downsizing and non-replacement of voluntary leavers.Despite weaker demand conditions, purchasing activity and input inventories continued to rise as firms sought to build stocks ahead of further increases in raw material prices.

$^HSI
Asia

Market Chatter: New Zealand Considering Singapore, Malaysia as Fuel Storage Options Amid Middle East Conflict

New Zealand is considering storing its fuel in Singapore and Malaysia amid the impact of the Iran war, according to a report by Bloomberg on Wednesday.The country's resource minister, Shane Jones, revealed that New Zealand does not have surplus storage capacity and is currently exploring alternatives, with Malaysia and Singapore cited as two countries to cater to the country's storing needs, the report said.New Zealand's storage capacity was severely impacted following the closure of a solitary refinery in Auckland in 2022, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^KLSE$^NZ50$^STI