KARACHI: Pakistan’s auto assembling sector has been in the spotlight at the Pakistan Stock Exchange (PSX) outperforming the KSE 100 Index by 12% since Pak Suzuki (PSMC) announced its voluntary delisting on October 12, 2023. According to an analyst at Sherman Securities, this has created excitement among investors as this delisting will unlock fair valuation…
BrainChip appoints former HP AI head, Tony Lewis, as new CTO
BrainChip Holdings Ltd, a leader in edge AI on-chip processing and learning, has announced the hiring of M. Anthony (Tony) Lewis as its new Chief Technology Officer (CTO). Tony will replace Peter Van der Made, the co-founder and current CTO of BrainChip, who will retire at the end of the year. Tony has extensive experience…
Merck signs $610 million deal to acquire Caraway Therapeutics
LONDON, UK: Merck, a global leader in biopharmaceuticals, has announced that it has entered into a definitive agreement to acquire Caraway Therapeutics, Inc., a company specialized in developing novel, small-molecule therapeutics for the treatment of neurodegenerative and rare diseases. The deal is worth up to $610 million, including an undisclosed upfront payment and contingent milestone…
Grainger plc agrees to form JV partnership with Network Rail and Bloc Group
LONDON, UK: Grainger plc, the UK’s largest listed residential landlord with over 10,000 operational rental homes, has agreed to enter a partnership with Network Rail and Bloc Group, through ‘blocwork’, a Joint Venture between the two parties. The partnership has the potential to deliver over 2,000 new purpose-built rental homes across sites in major cities…
Abri Group Limited & Octavia Housing enter partnership talks
LONDON: Abri Group Limited (Abri) and Octavia Housing (Octavia) have agreed to enter into discussions with a view to forming a legal partnership. The legal structure in which the two groups will be brought together remains to be determined and further information will be provided in due course. The partnership will be subject to the…
Wishbone Gold to acquire lithium and gold project in Western Australia
LONDON, UK: Wishbone Gold Plc, a mining exploration company, has announced that it has secured an exclusive option to acquire 100% of the Crescent East Lithium and Gold Project, located in the Pilbara Region of Western Australia. The project is situated in a prolific gold area and near some of the biggest lithium mines and…
Smith+Nephew to acquire CartiHeal, developer of Agili-C, for upto $330 million
LONDON, UK: Smith+Nephew, the global medical technology company, has entered into a definitive agreement to acquire CartiHeal, developer of Agili-C, a novel sports medicine technology for cartilage regeneration in the knee, a statement said. Under the terms of the agreement, Smith+Nephew will pay an initial cash consideration of $180 million at closing, and up to…
SigmaRoc agrees to acquire European lime businesses from CRH plc for €745 million
LONDON, UK: SigmaRoc has today entered into an agreement to acquire certain European lime businesses from CRH plc, a global diversified building materials business, that CRH has deemed non-core comprising of standalone businesses in Germany, Czech Republic and Ireland. The proposed deal comprises the entire issued share capital of Fels Holding GmbH including its fully…
Titon Holdings appoints Tom Carpenter as Group Chief Executive Officer
LONDON, UK: Titon Holdings Plc, a leading manufacturer and supplier of ventilation systems and window and door hardware, announced the appointment of Tom Carpenter as Group Chief Executive Officer (CEO). Tom will start his role and join the Board of the Company on 23 April 2024. Tom joins Titon from Belden Inc., a US based…
AI assistant You.com expands its leadership team and product offerings
You.com, the AI assistant that helps you with various tasks online, has announced two new additions to its executive team and plans to hire more talent as it celebrates a year of rapid growth and product innovation. The company, founded by AI research scientists Richard Socher and Bryan McCann, has appointed Jason Egnal as its…
Rio Tinto reaches $28 million settlement with Securities and Exchange Commission
LONDON: Rio Tinto has settled a lawsuit with the SEC over its disclosure of the value of Rio Tinto Coal Mozambique (RTCM) in its 2012 financial statements. The SEC had accused Rio Tinto of violating its accounting and reporting rules related to the impairment of RTCM, which Rio Tinto bought in 2011 and sold in…
Verta launches GenAI Workbench to simplify generative AI app development
Verta, a company that specializes in AI model management and operations, has announced the launch of its GenAI Workbench, a platform that aims to help developers create and refine custom generative AI (GenAI) applications. GenAI is a branch of AI that uses large language models (LLMs) to generate text, images, audio, or code from natural…