LONDON: The Dutch dairy company FrieslandCampina International Holding and the Arabian Food industries Company (Domty) have signed a joint venture agreement that will focus on the export of cheese to Africa and the Middle East. FrieslandCampina and Domty are combining their efforts in a new company that will export and sell affordable cheese propositions to…
Ricardo Plc secures $89 million contract from US Army
LONDON: Ricardo Defense has secured a three-year, $89M contract to provide critical safety upgrades protecting the lives of thousands of HMMWV operators around the world, a news release said. Detroit, Michigan -The Army today awarded Ricardo Defense a base contract to provide up to 9,480 critical safety improvement Antilock Brake System / Electronic Stability Control…
Ofcom raises £1.356 billion from principal stage spectrum auction
LONDON: Ofcom, UK’s communication regulator, has raised a total of £1.356 billion from the principal stage spectrum auction, with all money to be paid to HM Treasury. Ofcom has announced the outcome of the principal stage of its auction to release more airwaves to improve mobile services and support 5G. A total of 200 MHz…
Supply@ME to acquire Singapore based commodities trade enabler
LONDON: Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation service to manufacturing and trading companies, has signed Heads of Terms (HoT) for the acquisition of a leading FinTech-powered commodities trade enabler, focused on SMEs, based in Singapore. The acquisition will allow SYME’s Platform to complete its global offering, by monetising inventory…
Korian acquires Spain based ITA Mental Health
PARIS: Korian, the European care services group for elderly and fragile people, has signed an agreement to acquire ITA Mental Health in Spain from Magnum Capital, a news release said. Pending usual regulatory authorisations the acquisition is expected to close in a few months. Following the acquisition of Inicea, a major player in France, in…
CannaOne Technologies to acquire 51% stake in Direct Agent 5
VANCOUVER: CannaOne Technologies Inc. has entered into a memorandum of understanding for the acquisition of 51% of Direct Agent 5 Inc. (DA5). DA5 is a Philippine-based corporation, which serves as a remittance and forex licensed entity with Bangko Sentro Pilipinas (BSP). Cannaone has agreed to issue an aggregate of 11.823 million common shares to the…
Love Hemp signs global sponsorship agreement with Ultimate Fighting Championship
LONDON: Love Hemp Group, one of the UK’s leading CBD and Hemp product suppliers, has secured an exclusive five year, multi-million-dollar global partnership Agreement with Ultimate Fighting Championship (UFC). Ultimate Fighting Championship (UFC) is the world’s premier mixed martial arts organisation and the largest Pay-Per-View event provider in the world. This Agreement will commence on…
Tesco completes sale of Tesco Polska
LONDON: Tesco Plc confirmed that it has completed the sale of its business in Poland to Salling Group A/S. There will now be a transition period of up to 18 months, during which time, Tesco stores in Poland will be converted to Netto.
Pakistan textile exports contract by 3.1% YoY in February
March 16, 2021 (JS Research) Textile exports declined slightly during Feb-2021, by 3.1% YoY to US$1.23bn, compared to US$1.27bn in the same month last year. It is unfortunate that at a time when there is a golden opportunity to increase exports, there is a severe shortage of raw material (owing to massive rains at the…
Nokia announces plans to cut its cost base to invest in future capabilities
ESPOO: Nokia’s business groups today announce plans to reset their cost bases and invest in R&D and future capabilities including 5G, cloud and digital infrastructure, as well as other areas that will benefit Nokia in the long-term. In October last year the company announced a new operating model designed to better position the company for…
Adthink partners with Coinbase to accept Bitcoin payments
PARIS: Adthink, French digital marketing specialist, is teaming up with Coinbase to accept payments in Bitcoin, Ethereum and four other cryptocurrencies. Adthink implemented Coinbase Commerce which enables merchants around the world to accept crypto currency payments in a fully decentralized manner. As part of its B2C activities, Adthink is expanding its electronic payment capabilities, in…
Hexagon signs agreement with Certarus for CNG, RNG and hydrogen solutions
OSLO: Hexagon Agility and Hexagon Purus, both subsidiaries of Hexagon Composites, have signed a multi-year agreement with Certarus Ltd., the North American market leader of clean energy solutions. The agreement represents a total value of up to USD 85 million (approx. NOK 718 million) and includes the supply of distribution modules for CNG and hydrogen…