LONDON: Upper Thames Holdings announced several significant developments today that will see a move towards an exciting future into the global Blockchain sector. Excluding derivatives, the global crypto currency markets are now around USD1.5 trillion dollars. To put this in context there are only 16 stock exchanges in the world with a value over USD1…
Serco Group acquires Whitney, Bradley & Brown Inc for $295 million
LONDON: Serco Group plc has agreed to acquire Whitney, Bradley & Brown Inc (WBB), a leading provider of advisory, engineering and technical services to the US Military, for $295m from an affiliate of H.I.G. Capital, a news release said. The acquisition will increase the scale, breadth and capability of Serco’s North American defence business and…
Block Energy commences first gas sales from West Rustavi field
LONDON, UK: Block Energy plc announced that following Georgian Oil & Gas Corporation (GOGC) completing the tie-in of Bago LLC’s gas pipeline into GOGC’s main gas pipeline, gas sales from its West Rustavi field in Georgia have commenced. West Rustavi wells WR-38Z and WR-16aZ have been on continuous production since 28 January 2021 and 3…
JCPDI and Hutchison Ports sign investment and operation agreement for JCDPI Port
RIYADH: The Royal Commission in Jubail and Yanbu, and Hutchison Ports signed an agreement to invest and operate JCPDI Port, which consists of world-class, multipurpose terminals within the Jazan City for Primary and Downstream Industries (JCPDI). With the patronage of HRH Prince Muhammad bin Nasser bin Abdulaziz, Deputy Governor of Jazan Region HRH Prince Muhammad…
Carrington Textiles forms JV with Sapphire Textiles in Asia, announces growth in Europe
LANCASHIRE: Britain based Carrington Textiles and Sapphire Textile Mills have formed a joint venture in Pakistan under the name of Carrington Textiles International, with new textile dyeing and finishing operations that will provide up to 20 million meters a year of dyed and white fabric. “Sapphire Textile Mills has agreed to form a Joint Venture…
Avanceon gets solar power system contract for a Middle Eastern oil giant
DUBAI: Avanceon FZE, a subsidiary of Avanceon Limited incorporated in the United Arab Emirates, has been contracted to provide a comprehensive Solar Power System for one of the largest oil producers in the Middle East region. With the help of this project, the Middle Eastern Oil Giant aims to reduce its carbon footprint by expanding…
Toople wins contract with leading UK business brands
LONDON: Toople Plc announced five new contract wins with leading UK businesses across a variety of sectors. Toople is a provider of bespoke telecom services to UK SMEs, a news release said. The most substantial of the five is a new contract win for Toople to provide a range of services to a large building…
Х5 remains largest digital company in Russian e-grocery market
MOSCOW: X5 Retail Group became the largest digital company in the Russian online food retail segment in 2020, according to Infoline. X5’s online GMV1 for FY 2020 totalled RUB 21.9 billion (including VAT); this includes RUB 15.0 billion from the online hypermarket Vprok and RUB 6.9 billion from express delivery services from X5’s Pyaterochka and…
JTC Plc acquires INDOS for upto £12.5 million
LONDON: JTC Plc has acquired INDOS for a maximum consideration of £12.5 million, a news release said. The initial consideration is £11m which will be settled in cash £10m and JTC equity £1m. A further £1.5m deferred consideration is available to management on the achievement of performance targets. Founded in 2012, INDOS is an industry-leading…
Mode Global Holdings to launch novel payments and loyalty solution
LONDON: Mode Global Holdings is set to launch its novel payments and loyalty solution powered by Open Banking in Q2 2021, providing merchants with an alternative to rising card interchange fees and boosting loyalty amongst consumers, a news release said. Since Mastercard announced its plan to increase card payment fees, Mode has announced it will…
Learning Technologies acquires Bridge in a $50 million deal
LONDON: Learning Technologies Group (LTG) has agreed to acquire getBridge LLC and related assets from Instructure Inc for a cash consideration of $50 million. Bridge is a learning, performance and skills development platform for mid-enterprise organisations, headquartered in the US with operations in the UK and Hungary. Bridge provides a learning management system in addition…
Robert Karofsky appointed sole President UBS Investment Bank
ZURICH: Robert Karofsky has been appointed sole President UBS Investment Bank, following Piero Novelli’s decision to retire, a news release said. Novelli will step down as Co-President Investment Bank on 31 March 2021. Together, Karofsky and Novelli successfully reshaped the Investment Bank, realigning efforts around clients’ evolving needs, focusing resources on opportunities for profitable growth,…