LONDON: LMS Capital has approved a further investment of $5.3 million (£3.9 million) in Dacian Petroleum, a Romanian onshore oil and gas company, following a shareholder vote in May supporting a managed realisation strategy. The decision comes after months of underperformance at Dacian, driven by missed production targets and a softening oil price environment. LMS,…
Gemfields to sell Fabergé to SMG Capital for $50 million
LONDON: Gemfields Group Ltd. said Monday it has signed an agreement to sell its entire interest in Fabergé Limited, the iconic luxury brand, to SMG Capital LLC for $50 million. Under the terms of the deal, $45 million will be paid to Gemfields upon completion, expected on Aug. 28, 2025. The remaining $5 million will…
CAR Group: excellent FY25 results, double-digit growth in key metrics
Company’s reported revenue grew by 8% to $1.18 billion SYDNEY: CAR Group Ltd. announced its full-year results for FY25 on Monday, reporting excellent revenue and earnings growth across all key markets. The results, which align with the company’s estimates from July 17, highlight the resilience of its global business model and the potential for new…
JB Hi-Fi posts $10.6 billion in FY25 sales, announces CEO transition
MELBOURNE: JB Hi-Fi Ltd. reported a 10% rise in full-year sales to $10.55 billion, driven by strong consumer demand and strategic product launches across its Australian and New Zealand operations. Net profit after tax rose 5.4% to $462.4 million, while underlying earnings excluding one-off expenses climbed 8.5% to $476.1 million. The electronics and appliance retailer…
Iress Ltd posts strong core earnings growth amid strategic transformation
The company posted a statutory net profit after tax of A$17.3 million for the six months MELBOURNE: Financial technology firm Iress Ltd. (ASX:IRE) reported a 19% rise in underlying earnings per share from its continuing business in the first half of 2025, driven by solid performance in its trading and wealth segments. The company posted…
Dexus Convenience Retail REIT announces strong FT25 results, exceeding guidance
Company posts increase in like-for-like net property income growth to 2.9% SYDNEY: Dexus Convenience Retail REIT (DXC) announced its full-year results for the period ending June 30, 2025, confirming a distribution of 20.7 cents per security. This figure is slightly above the company’s guidance of 20.6 cents per security. The results highlighted an increase in…
Cash Converters expands Australian corporate store network with franchise acquisitions
SYDNEY: Cash Converters International Limited (ASX: CCV) has acquired 14 franchise stores across New South Wales, Queensland, and Victoria, continuing its aggressive expansion of corporate-owned outlets in Australia. The acquisitions include: All transactions were funded from available cash and completed at a blended earnings multiple of 4.3x EBITDA. The newly acquired stores are expected to…
Tuas Limited to acquire M1 Limited in S$1.43 billion deal; Launches A$416 million equity raise
SINGAPORE: Tuas Limited (ASX: TUA), through its subsidiary Simba Telecom, announced Monday it will acquire M1 Limited (excluding its ICT businesses) for S$1.43 billion, aiming to create a stronger, more competitive telecommunications player in Singapore. The acquisition, subject to regulatory approval by the Infocomm Media Development Authority, will be funded through existing cash reserves, a…
Xpand raises $6 million to launch AI-powered autonomous retail stores
TEL AVIV: Xpand, a retail technology startup developing autonomous, AI-powered stores, announced Monday it has raised $6 million in a funding round led by Ibex Investors and Emerge. The company’s executive team, including Chairman and CEO Joel Bar-El, also participated, underscoring internal confidence in its strategic direction. “Our mission is to power the next generation…
Datasite acquires Sourcescrub to expand AI-powered M&A platform
MINNEAPOLIS: Datasite, a global software-as-a-service provider specializing in artificial intelligence-powered solutions for mergers and acquisitions, announced today it has acquired Sourcescrub, a California-based provider of deal-sourcing data and workflows. The acquisition from Francisco Partners is the latest move in Datasite’s strategy to enhance its offerings for M&A professionals. The Sourcescrub acquisition follows a $500 million…
Yango Group makes first investment in Pakistan, backs logistics fintech Trukkr
Yango Group, a UAE-based technology company, has entered the Pakistani startup ecosystem with its first investment in the country, acquiring a stake in Trukkr, a fintech platform focused on digitizing financial services for the logistics sector. The investment, made through Yango Ventures, will enable Trukkr to expand its operations, enhance its credit-scoring capabilities, and improve…
Tech surge powers Wall Street to weekly gains amid tariff turmoil
Dow Jones climbs 207 points as investors shake off tariff fears; Apple leads tech rally with best week since 2020 NEW YORK: Stocks climbed Friday, capping a strong week for Wall Street as tech shares led the charge and investors shrugged off fresh tariff threats from President Donald Trump. The Nasdaq Composite rose 0.98% to…