EnTrust Global, a leading alternative asset management firm, has agreed to acquire Offshore Merchant Partners (OMP), a fund manager in the maritime and energy industries, to expand its Blue Ocean strategy. The Sale and Purchase Agreement has been signed and the transaction is expected to close in the first quarter of 2024, subject to customary…
Lenovo partners Anaconda to boost AI development & deployment
Lenovo and Anaconda, the leading provider of the world’s most popular AI, machine learning, and data science platform, announced a strategic partnership to power Lenovo’s high-performance data science workstations. The partnership will combine Lenovo’s trusted ThinkStation and ThinkPad workstation product portfolio with Anaconda’s enterprise strengths for open-source leadership, security, and reliability. “As artificial intelligence and…
Why Cloud Repatriation is on the Rise and How to Achieve a Successful Hybrid
Cloud repatriation is the process of moving some or all of your cloud-based workloads back to on-premises infrastructures. It may sound counterintuitive, but it is a growing trend among organizations that have experienced challenges or disappointments with their cloud projects. In this blog post, we will explore the drivers and experiences of cloud repatriation, the…
The best financial news database for investors and business owners
As an investor or a business owner in the corporate sector, you know how important it is to stay informed and updated on the latest financial news and trends. The financial world is constantly changing and evolving, and you need to keep up with the opportunities and challenges that arise every day. There are so…
Transforming Business Announcements into Captivating Stories
Tired of dry press releases gathering dust in the digital corners of your website? Believe it or not, even mundane business announcements hold the potential to become captivating stories that inspire and motivate your audience. Confused? Let me show you why. Think about it: stories have been ingrained in human culture since the dawn of…
Durlston Partners expands global presence with the opening of Dubai office
DUBAI, United Arab Emirates: Durlston Partners, a leading talent advisory firm specialising in technology, quantitative finance, and data science, is excited to announce the official opening of its Dubai office, marking a significant step in the company’s global expansion. The firm is headquartered in London, with a first international office opening in New York in…
Modern Mills sets IPO price range and kicks off book-building
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,…