KARACHI: K-Electric Limited would collect an additional Rs3.9 billion from consumers on account of fuel cost adjustment (FCA) for the months of June to December 2020. Recovery of these outstanding amount against electricity supply is subject to approval by the National Electric Power Regulatory Authority (NEPRA). K-Electric proposed to recover a total of Rs6.118 billion…
NetCents’s NC Exchange activity exceeds $4.0 million in January
VANCOUVER: NetCents Technology Inc., a cryptocurrency payments company, notified that its trading volume (purchases and sales of cryptocurrency) and user deposits on the NC Exchange exceeded $4 million in January 2021, setting a new monthly record. “Over the past two years, our focus has been on building merchant and partner acquisition and increasing merchant processing…
Icanic Brands announces acquisition of De Krown Enterprises
VANCOUVER: Icanic Brands Company has signed a binding LOI to acquire De Krown Enterprises LLC, a California based leading cannabis white label manufacturer and brand owner. De Krown is led by a team of successful and tenured executives from the California cannabis space as well as proven entrepreneurs in various other fields. The Company has…
Cambi is now listed on Euronext Growth Oslo
OSLO: Following a successful private placement, Cambi ASA shares started trading on Euronext Growth Oslo today, February 9, under the ticker “CAMBI”. DNB Asset Management and Handelsbanken Fonder were the cornerstone investors in a transaction that values Cambi at more than NOK 2.3 billion and was five times over-subscribed. Among Cambi’s shareholders are many high-quality…
Mauricio Ramos elected as Chair of U.S. Colombia Business Council
LUXEMBOURG: Millicom CEO Mauricio Ramos has been elected as Chair of the U.S. Chamber of Commerce’s U.S. Colombia Business Council (USCBC). The U.S. Colombia Business Council (USCBC) is the premier business organization dedicated to strengthening the economic and commercial relationship between the United States and Colombia, while removing barriers to trade, job creation, growth, and…
Veristar LLC acquires Planet Data Solutions
CHICAGO: Veristar LLC has acquired Planet Data, accelerating the firm’s offerings and solutions for corporate legal departments and law firms, a news release said without disclosing financial terms of the transaction. Planet Data Solutions Inc. will sell its assets to Veristar. Planet Data’s Exego software division will operate under a separate Exego LLC. “We are…
Philips completes the acquisition of BioTelemetry Inc.
AMSTERDAM: Royal Philips has completed the acquisition of BioTelemetry Inc., a leading U.S. based provider of remote cardiac diagnostics and monitoring. BioTelemetry’s financial results will be consolidated as part of Philips’ Connected Care business segment as of February 9, 2021. The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its…
Ontario unions file evidence in lawsuit against Ford government’s wage restraint legislation
TORONTO: More than three dozen Ontario unions filed evidence in a lawsuit to repeal legislation which severely limits wage and benefit increases for public sector workers. “We have always believed that the Ford government’s attack on collective bargaining is a serious interference with the constitutionally-protected right to collective bargaining, which has repeatedly been affirmed by…
Viper Networks to expand manufacturing for 5G upgrade, new solar production
TROY: Viper Networks Inc. is upgrading their Apollo Smart Lights products with 5G technology while maintaining 4G capabilities. Viper Networks is currently seeking to expand their manufacturing capabilities for both the Apollo Smart Light products and the emerging line of new Solar Products in the Greater Detroit area, which will remain in proximity to the…
OKEA appoints Svein J. Liknes as new CEO
TRONDHEIM: The Board of Directors of OKEA has appointed Svein J. Liknes as new CEO of OKEA, a news release said. The founder and current CEO of OKEA, Erik Haugane (68), has been in discussion with the Board about his succession for some time as Erik will retire from the CEO position in OKEA later…
ArcelorMittal sells 40 million common shares in Cleveland-Cliffs for $651.6 million
LUXEMBOURG: ArcelorMittal North America Holdings LLC, a wholly-owned subsidiary of ArcelorMittal S.A., announced an agreement to sell 40 million Cleveland-Cliffs common shares through a fully underwritten public market offering. The transaction is a part of a combined primary and secondary public offering of Cleveland-Cliffs’ shares. This divestment crystalizes additional proceeds from the transaction with Cleveland-Cliffs…
Alimak Group appoints Thomas Hendel as CFO
STOCKHOLM: Alimak Group has appointed Thomas Hendel as CFO, effective as of May 17, 2021. Thomas Hendel will join Alimak Group from the role as Deputy Chief Financial Officer of Saab Group, a position he has held since 2016. He has 30 years of experience from different financial and general management roles within Saab and…