YANBU, KSA: Saudi Aramco Base Oil Company – Luberef has signed a supply agreement with Saudi Aramco Mobil Refinery Company (SAMREF) to receive at least 3000 barrels per day of Heavy Vacuum Gas Oil (HVGO), subject to product availability. The agreement, which is part of Luberef’s business transformation initiative and aligns with Saudi Aramco’s transformation…
Advanced Petrochemical notify Propylene & Polypropylene plants shutdown
RIYADH: Advanced Petrochemical Company announced that its Propylene & Polypropylene plants will undergo a periodic scheduled maintenance from 04/02/2024 to 27/02/2024 by utilizing available Propylene stock, as well as outsourced Propylene. Propylene plant will be restarted from 03/03/2024 after the replacement of catalyst.It may be worth mentioning that such shutdowns for periodic maintenance are in…
Lana Medical Co acquires Saham Environmental Services Company for 5 million riyals
RIYADH, KSA: Lana Medical Company announced the acquisition of 100% of Saham Environmental Services Company, at a value of 5 million riyals. The acquisition is in line with the company’s strategy aimed at expansion and searching for investment opportunities in the environmental sector that benefit the company and its shareholders. Lana Medical aims to acquire…
Tech layoffs surge in January amid AI hiring frenzy
The tech industry is facing a paradoxical situation in 2024: while some segments are cutting jobs to cope with rising costs and shifting priorities, others are hiring aggressively to gain an edge in artificial intelligence (AI). According to the website Layoffs.fyi, more than 24,500 tech workers have been laid off in January, the most in…
Rodrigo Larraín appointed as new CEO of Cencosud S.A.
Cencosud S.A., one of the largest retail conglomerates in Latin America, announced today that Rodrigo Larraín Kaplan will be its new CEO, starting from March 1, 2024. Larraín, who has more than 25 years of experience in the industry, is currently the CEO of Cencosud Shopping S.A., a subsidiary of the group. He has also…
Teleperformance launches TP Infinity, a global digital consulting arm
Teleperformance, a global leader in digital business services, announced the launch of TP Infinity, a global digital consulting arm that aims to help clients build stronger brands through enhanced customer experience (CX). TP Infinity combines Teleperformance’s digital CX and transformation services with three independent digital companies that were integrated through its recent acquisition of Majorel:…
OctaiPipe raises £3.5M to scale its Edge AI platform for critical infrastructure
OctaiPipe, a UK-based startup that offers an end-to-end Edge AI platform for Critical Infrastructure, has secured £3 million in pre-Series A funding and a £500,000 non-equity grant from various investors and partners. The company will use the funds to further develop its proprietary Federated Learning technology, which enables data scientists and AI engineers to train…
Techstep appoints Microsoft Norway executive, Morten Meier, as CEO
OSLO, NORWAY: Techstep today announced the appointment of Morten Meier, a seasoned senior executive from the software and technology industry, as CEO. Mr. Meier brings more than 25 years of experience from international organisations in the areas of leadership, strategy, business development, sales, marketing, and operations. He comes from Microsoft Norway, where he has served…
Jadestone signs gas deal with PV Gas for Vietnam offshore fields
Singapore-based Jadestone Energy has signed a preliminary agreement with PV Gas, Vietnam’s state-owned gas company, to sell gas from its Nam Du and U Minh fields in the southwest of the country. The deal covers a daily contract quantity of 80 million standard cubic feet of gas (mmscfd) for at least 55 months, starting from…
Corbion sells emulsifiers business to Kingswood for $362M
AMSTERDAM: Corbion, a global leader in ingredient solutions, has agreed to sell its emulsifiers business to Kingswood Capital Management, a private equity firm based in Los Angeles. The deal, which is subject to regulatory approvals and other conditions, is expected to close in the second quarter of this year. The sale is part of Corbion’s…
Global Petroleum signs partnership agreement with Cynergy East Med
LONDON, UK: Global Petroleum Limited, an oil and gas upstream exploration company presently focused on Africa and the Mediterranean, has entered into a Partnership Agreement (PA) with Cynergy East Med LLC. Under the terms of the agreement, Cynergy and Global will look to explore energy opportunities in the East Mediterranean. In the current market landscape,…
FirstGroup signs deal to acquire York Pullman Bus Company
LONDON, UK: FirstGroup plc has signed an agreement to acquire York Pullman Bus Company Ltd, a high-performing business comprising five well-established coach services brands. York Pullman has a strong presence in regional and adjacent services operations in York and surrounding towns in North Yorkshire. The acquisition plays strongly into the Group’s strategy, providing profitable growth…