MOSCOW: Rostelecom PJSC, the largest integrated digital service provider in Russia, announced that according to ratings provided by TMT Consulting, an independent consulting agency, Rostelecom leads the market for the number of public WiFi hotspots. According to TMT Consulting, market volume for public WiFi hotspots grew by 23% over the last year in Russia to…
Waleed Al Mokarrab Al Muhairi appointed Chairman of the Board of Arabtec Holding
DUBAI: Arabtec Holding PJSC, a leading contractor for social and economic infrastructure, announced the appointment of Waleed Al Mokarrab Al Muhairi upon his election as a new member of the Board of Directors of Arabtec Holding PJSC. He succeeds Mohamed Thani Al Rumaithi who tendered his resignation as Chairman of the Board. Arabtec’s Board of…
Amlak Finance signs partnership agreement with Dubai Land Department
DUBAI: Amlak Finance PJSC, a leading specialised Islamic real estate financier, announced a newly formed partnership with Dubai Land Department (DLD). This strategic cooperation aims at allowing customers to invest in ready and well-maintained properties listed by Amlak Finance via easy instalment payment plans for a tenure of up to six years. The agreement was…
Berkshire Hathaway Energy to acquire Dominion Energy’s gas transmission and storage business for $9.7 billion
DES MOINES: Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., announced it has executed a definitive agreement to acquire Dominion Energy’s natural gas transmission and storage business. The transaction has an enterprise value of approximately $9.7 billion. The assets include over 7,700 miles of natural gas transmission lines, with approximately 20.8 billion…
Uber acquires food-delivery service Postmates for $2.65 billion in stock
NEW YORK: Uber has announced to have bought food-delivery service Postmates for $2.65 billion in stock. Uber is banking on food delivery to help sustain its business during the coronavirus pandemic, as demand for ride-sharing has plunged. In its first-quarter earnings call, Uber said that gross bookings revenue for its Rides segment was down 80% in…
DFM reopens its trading floor for investors as of Tuesday July 7th
DUBAI: The Dubai Financial Market (DFM) has announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday 7th July 2020, with the strict implementation of precautionary measures for the safety of clients and employees It is noteworthy that the DFM Trading Floor and Customer Affairs counters were temporarily…
Dubai Parks and Resorts to reopen on September 23, 2020
DUBAI: DXB Entertainments PJSC announced that the temporary suspension of theme park operations implemented in March 2020, will be extended for the summer period with the destination re-opening on 23 September 2020. The company will, in the interim, focus on the roll-out of the enhancement program and completion of maintenance works. The enhancement program will…
Zynga Inc closes acquisition of Peak Games for approx $1.85 billion
LONDON: Zynga Inc, a global leader in interactive entertainment, has completed its previously announced acquisition of all of the issued and outstanding common shares of Peak Games, the Istanbul-based creator of Toon Blast and Toy Blast, for a total purchase price of approximately $1.85 billion, comprised of approximately equal proportions of cash and Zynga Inc…
Ryanair and its Irish pilots agree on 20% pay cuts to save jobs
LONDON: Ryanair has welcomed acceptance by 100% of its Irish Pilots of a 4-year agreement which includes a 20% pay reduction, restored over 4 years, along with productivity improvements on rosters, flexible working patterns and annual leave to minimise Irish Pilot job losses. This agreement gives Ryanair a framework to flex its operation during the…
Gresham House acquires 41MW Bloxwich battery storage project from Arenko Group
LONDON: Gresham House Energy Storage Fund, Great Britain’s largest operational battery storage fund, announced that it has completed the acquisition of a 41MW operational energy storage facility known as Bloxwich from a group of investors led by Arenko Cleantech. This project was previously disclosed by GRID as the ‘Potential Acquisition’. The acquisition increases the total…
Costa extends pause for its cruises until August 15th
GENOA, ITALY: Costa Victoria announced a further pause for all its cruises until August 15th, 2020 and the cancellation of all cruises in Northern Europe for the remainder of the 2020 summer season. The decision is linked to the uncertainty on the gradual reopening of ports to cruise ships and the restrictions that may still…
Victoria Oil & Gas terminates agreement to supply gas to ENEO
LONDON: Victoria Oil & Gas Plc subsidiary Gaz du Cameroun S.A. (GDC provides an update on the gas sales agreement with ENEO Cameroon S.A. (ENEO). SUMMARY: GDC has unerringly supplied natural gas to ENEO at its Logbaba power plant since 2015 despite ENEO’s poor payment record GDC has made repeated requests in writing and in…