REDMOND: Microsoft Corporation has selected Cyviz to jointly design, develop and deliver next-generation visual collaboration solutions for Microsoft Technology Centers (MTC) worldwide. Microsoft will standardize on the Cyviz Easy Software Platform to deliver impressive customer experiences and in-depth technical engagements enabling digital transformation. Cyviz and Accenture to deliver next-generation visual collaboration solutions for Expo 2020…
AQ Group acquires Schaffner’s Power Magnetic Division for CHF 22.4 million
STOCKHOLM: AQ Group AB has signed an agreement with the Swiss company Schaffner Group to acquire its Power Magnetics Division, a news release said. The purchase price is CHF 22.4 million on a debt free cash free basis (enterprise value).Closing is expected at the end of the second quarter of 2021. Schaffner’s Power Magnetics Division…
Alstom to supply 20 trains for Region of Lombardy in Italy for €125 million
PARIS: Alstom has signed a contract with FERROVIENORD for the supply of 20 regional trains intended for the regional railway service of the Region of Lombardy for a total value of €125 million, a news release said. This is the second contract within a framework agreement signed in November 2019 with FNM S.p.A.. The trains…
Pakistan’s Large-scale manufacturing (LSM) grows by 4.85% YoY in February
Large-scale manufacturing (LSM) continued on a positive trajectory in February, with 4.85% growth compared to the same month last year. Cumulatively speaking, 8MFY21 LSM growth now stands at 7.45% YoY. On MoM basis, there was a minor decline of 4.15%, however, this is typical, given fewer working days in February. Among LSM heavy-weights, top performers…
Dubai Islamic Bank closes lowest-ever pricing on an AT1 sukuk from the GCC
DUBAI: Dubai Islamic Bank PJSC (DIB), rated A3 by Moody’s and A by Fitch, successfully priced a landmark USD 500 million Perpetual Non-Call 5.5yrs Additional Tier 1 Sukuk with a profit rate of 3.375% per annum. This transaction represents the lowest ever pricing achieved by a GCC bank (both conventional and Islamic) on an Additional…
HEINEKEN to be carbon neutral in production by 2030
AMSTERDAM: HEINEKEN, world’s most international brewer, announced a new ambition to decarbonise its own production by 2030 and its full value chain by 2040. This is the first in a series of refreshed Brew a Better World ambitions, which form an important part of the company’s new EverGreen balanced growth strategy. “In this Decade of…
DNB Bank to launch cash offer for 100% shares of Sbanken ASA
OSLO: DNB Bank ASA has reached an agreement with Sbanken ASA to launch a recommended voluntary cash tender offer for 100% of the shares of Sbanken. A cash consideration of NOK 103.85 will be offered per share, which implies a total consideration for all the Shares of approximately NOK 11.1 billion (based on 106,869,333 shares…
Carol Phelan appointed Group Chief Financial Officer at Dalata Hotel Group
DUBLIN: Dalata Hotel Group, the largest hotel operator in Ireland with a growing presence in the United Kingdom, announced the appointment of Ms Carol Phelan as Group Chief Financial Officer (CFO) effective 1 July, 2021. Ms Phelan’s appointment follows the announcement on 2 March 2021 that Dermot Crowley, Deputy Chief Executive Officer (CEO) – Business…
IMC Exploration agrees to purchase Karaberd gold mine in northern Armenia
LONDON: IMC Exploration Group has conditionally agreed to purchase the Karaberd Mine, a gold mine located in Lori Marz, northern Armenia. If the proposed acquisition proceeds, it will take effect via the acquisition by IMC of the entire issued share capital of MVI Ireland s.r.o. from Mineral Ventures Invest spol. s r.o., a transaction which…
Chesnara plc all set to acquire Dutch insurance portfolio of Brand New Day
LONDON: Chesnara plc confirmed that all remaining conditions precedent to the completion of the proposed acquisition of the Dutch insurance portfolio of Brand New Day Levensverzekeringen N.V. have now been fulfilled and the conversion of policies onto the systems of Chesnara’s Waard Leven N.V. has been completed. John Deane noted: “This marks Chesnara’s fifth successful…
Google Inc extends contract with 1Spatial
LONDON: 1Spatial, a global leader in Location Master Data Management (LMDM) software and solutions, announced that following an initial trial and implementation phase, Google Real Estate and Workplace Services, a division of Google Inc has extended its contract for services to support the licencing of 1Spatial’s rules engine, 1Integrate, and cloud portal, 1Data Gateway. The…
Ascential plc acquires Perpetua Labs Inc for a maximum of $250 million
LONDON: Ascential plc announced the acquisition of Perpetua Labs Inc, an eCommerce media optimisation business that primarily targets Third party (3P1) sellers. The acquisition is for an initial cash consideration of US$52m, plus deferred consideration payable over four years, resulting in an estimated total consideration (including the initial consideration) of between US$103m and US$162m. Total…