OSLO, NORWAY: The Board of Golden Ocean Group Limited announced the appointment of Mr. Lars-Christian Svensen as the Chief Executive Officer (CEO) of Golden Ocean Management AS with effect from January 1, 2024. Mr. Svensen currently serves as the Interim Chief Executive Officer of Golden Ocean Management AS. Prior to that, he held the role…
Petroleum sales slump in Pakistan amid high prices and low demand
ISLAMABAD: The sales of petroleum products in Pakistan witnessed a sharp decline of 7% year-on-year (YoY) in December 2023, reaching 1.24 million tons, according to the latest data released by the Oil Companies Advisory Committee (OCAC). The main reasons for the drop in sales were the surge in price of petroleum products, the economic slowdown,…
Diversified Energy sells producing assets in Appalachia for $200 million
LONDON, UK: Diversified Energy Company PLC (DEC) has announced the completion of an innovative deal that has enabled it to extract more value from its existing assets and improve its financial position. The deal involved selling 80% of its producing assets in Appalachia to a special purpose vehicle (SPV) for $200 million, while retaining a…
Hydrogen Utopia acquires 49% stake in Ohrid Organics
LONDON, UK: Hydrogen Utopia International PLC (HUI), a company that converts non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, has announced that it has acquired 49% of Ohrid Organics Ltd, a medical cannabis producer in North Macedonia. The deal, which is expected to be completed in the first quarter of 2024, will provide…
Jade Road Investments to transfer legacy assets to new entity, Eastern Champion Ltd
LONDON, UK: Jade Road Investments Limited (AIM: JADE), an investment company focused on Asia, has announced a plan to transfer its legacy Asian assets to a new entity, Eastern Champion Ltd (SPV). The legacy assets include investments in mining, energy, healthcare, and real estate sectors. The transfer will be done through a conditional agreement, which…
Galapagos NV signs agreement to transfer Jyseleca business to Alfasigma
MECHELEN, BELGIUM: Galapagos NV and Alfasigma S.p.A. today announced that they have signed an agreement to transfer Galapagos’ Jyseleca® (filgotinib) business to Alfasigma, marking a significant milestone in Galapagos’ transformation into an innovative biotechnology company with a best-in-class research and development pipeline aimed at addressing high unmet patient needs in immunology and oncology. The agreement…
Danone signs deal to sell Horizon Organic and Wallaby businesses in the U.S.
PARIS, FRANCE: Danone has signed an agreement to sell its premium organic dairy activity in the U.S. to Platinum Equity, a US-based investment firm. The sale is part of Danone’s portfolio review and asset rotation program the company announced in March 2022, as part of its Renew Danone strategy. In 2022, the US premium organic…
OpenLearning acquires online higher education marketplaces from Prosple
SYDNEY, AUSTRALIA: OpenLearning Limited (ASX: OLL), the AI powered SaaS platform for lifelong learning, has signed a binding business and asset sale agreement to acquire three leading Australian higher education marketplaces, expanding the student acquisition capabilities it offers to customers. Annually, the marketplaces attract over 800,000 users and list over 15,000 courses and degrees from…
Taiba Investment Co. announces new CEO and Managing Director
RIYADH: Taiba Investment Co., a leading Saudi company in the fields of real estate, hospitality, and tourism, has announced the appointment of Mr. Sultan bin Badr Al-Otaibi as its new CEO, effective from January 1, 2024. Mr. Al-Otaibi succeeds Eng. Saleh bin Habdan Al-Habdan, who resigned from his position as CEO and was appointed as…
Level Access to acquire UserWay, a leader in accessibility AI
Level Access, a provider of digital accessibility solutions, has agreed to buy UserWay, a company that uses AI to improve web accessibility for people with disabilities. The deal, expected to close in early 2024, will combine the technologies and expertise of both companies to help more organizations create and maintain accessible digital platforms. UserWay’s software…
LG unveils new Gram Pro laptops with OLED displays and AI features
LG is gearing up for the upcoming CES 2024 event by announcing some exciting updates to its popular Gram series of laptops. The Gram series is known for its lightweight design and powerful performance, and the new models are no exception. Meet the LG Gram Pro and LG Gram Pro 2-in-1 The new additions to…
Apple Hospitality buys Las Vegas hotel for $75 million
Apple Hospitality REIT, Inc. (NYSE: APLE), a real estate investment trust that owns hotels across the US, has acquired the SpringHill Suites by Marriott Las Vegas Convention Center for approximately $75 million. The 299-room hotel, located near the Las Vegas Strip and the newly expanded Las Vegas Convention Center, offers premium amenities such as a…