Delegate Digest: Data is the New Oil

Delegate Digest:

A weekly roundup of news stories highlighting the global delegates of the Bloomberg New Economy Community and their actions taken to address the world’s most significant changes and challenges.

Mubadala has partnered with SoftBank and Microsoft to create a start-up ecosystem called Hub71 in Abu Dhabi. This will be used for subsidizing startups involved in New Space, AI, biotech, and microelectronics. “I believe data is the new oil. Companies building on data are very successful now and will be more successful in the future,” Khaldoon Al Mubarak told the Nikkei Asian Review.

AIIB has approved the membership of Cote d’Ivoire, Guinea, Tunisia and Uruguay. “The growth in membership from Africa and Latin America demonstrates the importance that these countries attach to improving infrastructure and connectivity with Asia,” said AIIB Vice President and Corporate Secretary Sir Danny Alexander. “It also reflects the commitment of our members to multilateral co-operation and high standards of governance.”

Nigeria is looking to double their crude oil output and triple their refining capacity by 2025. Previous plans and pledges have been made, but targets have never been met. Something that may change the outcome of this particular pledge is the new 650,000 barrel-a-day refinery being built by Aliko Dangote.

 


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