Chemical industry news · Three minutes a day
Wednesday, October 28, 2026
Lead Story
Dutch Regulator Blocks Takeover of Unilever's Unox BrandDutch regulator ACM blocked Zwanenberg Food Group's acquisition of Unilever's Unox brand citing dominance concerns. Unilever remains disappointed while continuing its strategy to divest food assets and focus on beauty and wellbeing.
Sinokor Group’s WhatsApp messages heavily influence global oil tanker rates amid Iran war disruptions, prompting Mercuria Energy Group to sue the Baltic Exchange over the TD3C benchmark's reliability. Legal challenges question the pricing mechanism's accuracy during geopolitical conflicts.
Syngenta targets a valuation of at least $66 billion for its planned Hong Kong IPO, expected early next year. Investment banks are pitching multiples of 15 to 20 times 2026 EBITDA for the Swiss-Chinese agrochemicals giant controlled by Sinochem.
Indonesia secured a commitment from the UAE to supply up to 30 million barrels of oil to ensure fuel security amid Middle East disruptions. The agreement allows Indonesia to draw from the supply anytime, according to SKK Migas head Djoko Siswanto.
Adani-owned cement maker ACC saw Q2 profit plunge 91% to 1.01 billion rupees amid rising fuel costs and lower sales. Demand is expected to strengthen post-monsoon driven by government infrastructure spending.
Swiss engineering firm Sulzer has entered a five-year strategic alliance with Venezuela's state-owned oil company PDVSA to develop industrial infrastructure across its upstream, refining, and distribution operations.
Former RBI Governor Raghuram Rajan advises against depleting forex reserves to defend the rupee, citing risks from high oil prices and widening current account deficits.
India's Cipla missed Q2 profit estimates as net earnings fell to 8.78 billion rupees due to weak US sales of generic Revlimid. While North American revenue declined 19%, Indian operations grew 12%, partially offsetting the overall downturn.
European stocks recovered as falling oil prices offset weak earnings from HSBC. Mining and energy sectors saw mixed results, while Reckitt Benckiser fell due to supply constraints affecting its cleaning and vitamin product lines.
Yemen's Houthis claimed a ballistic missile strike on Saudi Arabia's largest oil refinery, Ras Tanura, sparking a fire. Although Riyadh has not confirmed the incident, reports suggest the blaze was contained, posing potential risks to global oil supply chains.
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