RIYADH: Modern Mills Company (MMC), a leading milling and nutrition company in Saudi Arabia, has announced the price range for its initial public offering (IPO) of 30% of its share capital, as well as the start of the institutional book-building period. The price range for the IPO has been set at SAR 44 to SAR…
CARBIOS and De Smet join forces to build world’s first PET biorecycling plant
PARIS: CARBIOS, a pioneer in biological technologies for plastic and textiles, and De Smet, a leading provider of engineering and construction services for biotech and agro-processing industries, have announced their collaboration to construct the world’s first PET biorecycling plant in Longlaville, France. The plant, which is expected to be operational by 2025, will use CARBIOS’…
Americana Restaurants delivers $2.41 billion revenue in FY 2023
ABU DHABI: Americana Restaurants, the leading restaurant operator in the MENA region and Kazakhstan, announced its financial results for the year 2023, showing revenue growth, margin improvement, and dividend payout despite challenging market conditions. The company, which operates popular brands such as KFC, Pizza Hut, Hardee’s, and Krispy Kreme, reported revenues of $2.4 billion, up…
Union Properties posts record net profit of AED 811 million in 2023
DUBAI: Union Properties PJSC (UPP) announced its preliminary financial results for the fiscal year 2023, registering a record net profit of AED 811 million, up by 2607% from 2022. The company’s operating profit also grew by 60%, reaching AED 508 million. The company attributed its exceptional performance to its strategic approach, market position, and diversified…
Orient Insurance posts record profits of AED 636 Million in 2023
DUBAI: Orient Insurance Company (PJSC), a subsidiary of Al-Futtaim Group and a leader in the insurance market, announced today its impressive financial performance for the year ending on 31/12/2023. The company reported a net profit of AED 636 million, a 23% increase from AED 519 million in 2022. Its insurance revenue also rose by 28.4%…
QuantumScape names new CEO as it prepares for commercial launch
QuantumScape Corporation, a leader in next-generation solid-state lithium-metal battery technology, has appointed Dr. Siva Sivaram as its new CEO and board member, effective February 15, 2024. Dr. Sivaram, a semiconductor and data storage industry veteran, joined QuantumScape as President in September 2023 from Western Digital Corp. Dr. Sivaram will succeed co-founder and CEO Jagdeep Singh,…
Guident and Auve Tech Partner to Enhance MiCa Autonomous Shuttle with Teleoperation Technology
LONDON: Guident Ltd, a Tekcapital portfolio company and a leader in AV teleoperation, announced today that it will integrate its remote monitoring and control software with the MiCa autonomous shuttle from Auve Tech, an Estonia-based company that develops and manufactures autonomous transportation systems. The MiCa shuttle is the world’s most compact and flexible level 4…
Quadrise Plc signs project development agreement with Euthenia and BTG Bioliquids
LONDON, UK: Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, announced the signature of a Project Development Agreement (“PDA”) with renewable biofuels specialists, BTG Bioliquids BV (“BTL”) and Euthenia Energy Group Limited (“Euthenia”). As announced on 8 June 2023, Quadrise and BTL entered into a Joint Development Agreement (“JDA”)…
Katoro Gold appoints Sean Wade as Non-executive Chairman
LONDON, UK: Katoro Gold PLC (AIM:KAT), a strategic and precious minerals exploration and development company, announced the proposed appointment of Sean Wade as Non-executive Chairman of the Company, subject to due diligence. Mr Wade is the Chief Executive Officer of Power Metal Resources PLC (AIM:POW), Katoro’s joint venture partner at the Haneti Project in Tanzania,…
Ken Lever has been appointed Chair of Cirata Plc
LONDON, UK: Cirata plc (LSE: CRTA), announced that after due process, Ken Lever has been appointed as Chair and Non-Executive Director of the Board of Directors (the “Board”) effective immediately. Ken Lever has served as Interim Chair and Non-Executive Director since 17 March 2023[1]. He was initially appointed as Interim Chair to provide leadership and…
Renesas Electronics to acquire Altium Limited for A$9.1 billion
Renesas Electronics Corporation, a supplier of advanced semiconductor solutions, and Altium Limited, a global leader in electronics design systems, have agreed to a deal that will see Renesas acquire all outstanding shares of Altium for A$68.50 per share, valuing the company at A$9.1 billion. The acquisition will enable the two industry leaders to establish an…
How to Invest Money Wisely: A Guide for the American Business Man
If you are a successful business man, you may have accumulated a considerable amount of wealth in the past decade. You may also have a growing business surplus that you need to set aside for emergencies. But do you know how to invest your money wisely and make it work for you? Investing money is…