Pakistan is facing a serious energy crisis, with rising electricity costs, mounting circular debt, and dwindling foreign exchange reserves. The country is still relying on expensive and polluting fossil fuels to meet its power demand, while ignoring the potential of renewable energy sources, especially wind power. Wind mills are a clean, green, and affordable way…
Phoenix Tower International acquires Cellnex Telecom’s Irish business
Phoenix Tower International (PTI), a global telecom tower operator, has announced a deal to buy Cellnex Telecom’s business in Ireland, which includes about 1,700 mobile telecom sites and 200 land locations. The deal will boost PTI’s presence and growth in Ireland, as well as improve the country’s telecom infrastructure and services. PTI expects the transaction…
Julieann Esper Rainville becomes new CEO of Power Factors
Power Factors, the leading software solutions provider for the renewable energy sector, has announced the appointment of Julieann Esper Rainville as its new Chief Executive Officer. She will succeed Gary Meyers, who will become the Executive Chairman of the Board of Directors, according to a news release. Esper Rainville has over 27 years of software…
Accenture acquires Udacity to boost its technology learning and training services
Accenture, a global professional services company, has agreed to acquire Udacity, a digital education pioneer that offers proprietary technology courses online. The terms of the deal were not disclosed. Udacity’s team of more than 230 professionals will join Accenture LearnVantage, a new service that helps Accenture’s clients reskill and upskill their people in technology, data…
Global payroll and HR company Deel is acquiring PaySpace
Deel, the all-in-one HR solution for global teams, announced today that it is acquiring PaySpace, the African-based payroll and HR company with operations in 44 countries. The deal will make Deel the first global payroll and Employer of Record (EOR) with its own full-stack payroll engine localized in 50 countries and integrated into its offering….
HydrogenOne backs Sunfire GmbH’s EUR 500 million funding round
LONDON: HydrogenOne Capital Growth plc, a London-listed fund investing in clean hydrogen, has announced its participation in a EUR 500 million funding package for Sunfire GmbH, a leading electrolyzer manufacturer. The package includes a EUR 215 million Series E equity round, a EUR 100 million term loan from the European Investment Bank (EIB), and EUR…
How Generative AI Can Transform Retail Banking in 2024
Generative AI is a game-changing technology that can create new content, data, and insights from existing information. It can help retail banks improve their efficiency, customer experience, and innovation. However, most banks are not ready to embrace and scale generative AI across their operations. This is the key finding of the World Retail Banking Report…
CapitalBox acquires Omniveta to boost SME lending in Denmark
CapitalBox, a business unit of Multitude SE, a leading European FinTech company, has announced the acquisition of Omniveta Finance, a Danish invoice purchasing company, effective from 1st March 2024. The deal will enhance CapitalBox’s alternative finance solutions for small and medium-sized enterprises (SMEs) in Denmark and other European markets. Omniveta, founded in 2012, provides invoice…
BowFlex to sell assets to Johnson Health Tech in bankruptcy auction
BowFlex Inc., a leading home fitness company, has agreed to sell most of its assets to Johnson Health Tech Retail, Inc. for $37.5 million in cash, as part of its Chapter 11 bankruptcy process. The company filed for bankruptcy protection in New Jersey on Saturday, citing the post-pandemic environment and persistent macroeconomic headwinds. It has…
TECOM Group announces record-breaking results and dividend payout
DUBAI: TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, has announced its best-ever financial and operational performance for the year 2023, along with a cash dividend of AED 800 million for its shareholders. The Group held its Annual General Assembly Meeting at Dubai Internet City, where it approved the financial…
CEVA Logistics withdraws bid for Wincanton after rival offer
LONDON: CEVA Logistics UK Rose Limited, a subsidiary of French shipping giant CMA CGM S.A., has decided to drop its bid for British logistics company Wincanton plc after a competing offer emerged. CEVA had agreed to buy Wincanton for £1.2 billion in cash in January, in a deal that would have created a leading logistics…
Argo Blockchain sells Quebec data center for $6.1 million, cuts debt and costs
LONDON, UK: Argo Blockchain plc, a global leader in cryptocurrency mining, announced on Monday that it has agreed to sell its Quebec data center in Mirabel, Quebec, for $6.1 million. The deal is expected to close by the end of March 2024, subject to regulatory approvals and other conditions. The sale will help Argo reduce…