MONTREAL, QUEBEC: Peak Fintech Group has termed the report by Grizzly Research as baseless aimed at manipulating the market. Peak Fintech Group, an innovative Fintech service provider and manager of the Cubeler Business Hub, addressed a baseless and irresponsible report produced by Grizzly Research in which Grizzly Research alleges that Peak Fintech has misappropriated millions…
TechFinancials selling Cedex Holdings to Lem Management
LONDON, UK: TechFinancials Inc. has entered into a Share Purchase Agreement to sell its 99.84% owned subsidiary, Cedex Holdings Limited to Lem Management Limited. According to the terms of the agreement, TechFinancials will be entitled to future consideration upon the buyer succeeding to raise US$20 million in a single or series of related transactions, for…
Simplifai signs milestone deal in the Dutch insurance market
AMSTERDAM: Elop’s AI business unit, Simplifai, signs leading claims processor “Van Ameyde Group” for operations in Dutch insurance market and throughout Europe. This is another major win for Simplifai in the Dutch insurance market proving the potential of AI and Digital Employees. Van Ameyde is the European market leader in claims management, loss adjusting and…
Huawei appoints Steven Yi regional president for Middle East
DUBAI, UAE: Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, has announced the appointment of Steven Yi as President for the Middle East at Huawei. In his role, he will work with both regional and global ICT ecosystem partners towards Huawei’s vision to bring digital to every person, home,…
EFG Hermes partners Microsoft to accelerate digital transformation
CAIRO, EGYPT: EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), and Microsoft announced a strategic cloud partnership aimed at accelerating the firm’s digital transformation and shaping the future of innovation in the financial services industry, a statement said. The companies will strike a unique collaboration to unlock the opportunities that Microsoft’s…
Ghani Global to sell Ghani Chemical Industries shares in IPO
KARACHI, PAKISTAN: Ghani Global Group will sell around 50 per cent shares in its subsidiary Ghani Chemical Industries Limited (GCIL) through an initial public offering (IPO) at Pakistan Stock Exchange (PSX), to fund Rs8.5 billion ($49.7 million) expansion. The Board of Directors of Ghani Chemical Industries Limited, one of the subsidiary companies and the largest…
Sanolium AB announces Rami Avidan as new CEO
STOCKHOLM, SWEDEN: Sanolium AB, parent of the Cambio Group operating entities, today announced that its Board of Directors has named Rami Avidan as Chief Executive Officer with effect from 4th of October 2021. Rami Avidan has extensive experience from the tech industry where he has successfully led large and complex product organizations. Most recently Rami…
Vortex Energy to inject over €625 million into Ignis Energy
MADRID, SPAIN: Vortex Energy, a global renewable energy platform managed by the private equity arm of EFG Hermes, has entered into a definite agreement with Ignis Energy Holdings, parent company of Spanish independent integrated renewable player Ignis Group. Vortex Energy will inject over €625 million through its newly launched Vortex Energy IV Fund and its…
Mirriad and SpringServe to scale dynamic in-content advertising
LONDON, UK: Mirriad Advertising, the leading in-content advertising company, today announced it is working with Magnite’s SpringServe, the leading ad serving platform for over-the-top (OTT) and connected TV (CTV), to bring scale and automation to the in-content advertising format via programmatic ad campaigns. Mirriad’s patented, AI and computer vision technology dynamically ‘inserts’ adverts into empty…
AMTE partners InfraNomics to build battery cell production line
LONDON, UK: AMTE Power plc, a developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, announced a joint venture agreement with InfraNomics Technologies Pty Ltd and advanced plans to build a 200,000 cell micro production line in Australia’s Lithium Valley. The 50:50 joint venture will operate through Bardan Cells Ltd and be…
AIQ announces new contract to supply DeFi DEX
LONDON, UK: The Board of AIQ Limited announced that Alcodes International, the Group’s IT consultancy business headquartered in Hong Kong, has been awarded a contract worth US$552k to supply a decentralised finance (“DeFi”) exchange (“DEX”) to a customer based in Australia. Under the terms of the contract, the Group will receive payment in tranches upon…
SEGRO and Schroders complete UK industrial property swap
LONDON: SEGRO plc and Schroders have completed a property swap transaction in which SEGRO has acquired from Schroders a 256,000 sq ft urban warehouse estate in West London for £140 million and Schroders has acquired from SEGRO a portfolio of UK big box and urban assets totalling 880,000 sq ft for £205 million. The balance…