The ongoing Houthi attacks on shipping vessels in the Red Sea have caused a major disruption in global trade, forcing many container ships to take longer routes and driving up ocean freight rates. This has also increased the demand for air freight, as some retailers look for faster alternatives to deliver their goods. According to…
WealthArc and ZeroLink launch AI-powered chat service for wealth data
WealthArc, a Swiss-based provider of wealth data management solutions, has teamed up with ZeroLink, a leader in neurosymbolic knowledge graph technology, to create WealthArc AI & Analytics, a new service that allows users to chat with their wealth data using natural language. The service, powered by ZeroLink’s machine learning platform, enables wealth managers, family offices,…
BYD unveils AI-powered smart car system to boost its edge in EV market
BYD, the world’s largest electric car maker, announced its new Xuanji smart car system on Tuesday, aiming to enhance its competitiveness in advanced technologies such as automated parking and autonomous driving. The Xuanji system, which integrates the AI Large Model with the largest data foundation in the industry, can perceive changes inside and outside the…
Abu Dhabi Commercial Bank expands into the Kingdom of Saudi Arabia
ABU DHABI: Abu Dhabi Commercial Bank (ADCB) is establishing a strategic presence in Saudi Arabia, leveraging its strong balance sheet and sophisticated corporate banking capabilities to support a growing client base, and contribute to the deepening of regional economic relationships. ADCB has received an in-principle approval from the Kingdom’s Council of Ministers and will open…
GSK completes sale of shares in Haleon
LONDON: GSK plc announced that, further to its announcement on 16 January 2024, GSK has agreed to sell 300m ordinary shares in Haleon plc at a price of 326 pence per share, raising gross proceeds of approximately £978m. Following settlement of the placing, GSK will hold approximately 385m ordinary shares in Haleon, representing approximately 4.2%…
Kaspi.kz, a leading fintech company in Central Asia, launches US IPO
LONDON: Kaspi.kz, a joint stock company that operates a digital platform for banking, e-commerce and payment services in Kazakhstan and neighboring countries, announced on Friday that it is launching a roadshow for its U.S. initial public offering (IPO). The company is offering 9 million American depositary shares (ADSs), each representing one common share, to investors…
Murray Auchincloss appointed bp chief executive officer
LONDON, UK: bp announced today that the bp board has appointed Murray Auchincloss as bp chief executive officer with immediate effect. Murray, who has been interim CEO since September 2023, will continue as a member of the bp board. BP CEO Bernard Looney quits over lack of transparency on personal relationships His appointment has been made…
Renault Group boosts sales by 9% in 2023 with strong brand strategy
PARIS: Renault Group, the French multinational automobile manufacturer, has reported a 9% increase in its worldwide sales in 2023, reaching a total of 2,235,345 vehicles sold over the year. The Group attributed this impressive growth to its successful dynamic with three of its core brands: Renault, Dacia, and Alpine. Renault, the best-selling French brand in…
FDE to acquire Greenstat ASA in a €41.9 million deal
PARIS: La Francaise De L Energie (FDE), a carbon negative energy producer listed on Euronext, has agreed to acquire a controlling stake in Greenstat ASA, a leading green energy operator based in Norway, with a strong focus on hydrogen and solar activities. The deal, worth up to €41.9 million, will allow FDE to expand its…
Compass Minerals appoints Edward C. Dowling Jr. as President and CEO
Compass Minerals (CMP), a global leader in essential minerals, has appointed Edward C. Dowling Jr. as its new president and CEO, effective from Jan. 18, 2024. Dowling, who joined the company’s board in March 2022, will replace Kevin S. Crutchfield, who will step down on Jan. 17, 2024 and serve as a consultant until the…
BrainChip and MYWAI team up to deliver Edge AI solutions for industry and robotics
BrainChip Holdings Ltd, a pioneer in neuromorphic AI technology, and MYWAI, a leading AIoT solution provider in the EU, have announced a strategic partnership to deliver cutting-edge Edge AI solutions for various industrial and robotic sectors. The solutions will use BrainChip’s Akida, a low-power, high-performance AI chip that learns from sensor data, and MYWAI’s EaaS…
Sixth Street hires Marcos Alvarado as Head of U.S. Real Estate
Sixth Street, a leading global investment firm, announced today that it has hired Marcos Alvarado as a Partner and Head of U.S. Real Estate, effective February 1st. Alvarado will lead the expansion of Sixth Street Real Estate, a platform that invests in and finances properties across various sectors. Alvarado has over 20 years of experience…