SoftBank Group Corp is in talks to buy back the 25% stake in Arm Ltd it does not directly own from Vision Fund 1 (VF1), a $100 billion investment fund it raised in 2017, Reuters reported on Monday. The negotiations come as SoftBank, which currently owns 75% of Arm, is preparing to list the chip…
TGS announces new multi-client projects in Southeast Asia
OSLO, NORWAY: TGS, a leading global provider of energy data and intelligence, has announced that it has secured funding for a series of multi-client projects in Southeast Asia, which are expected to start in late Q4 2023. The program covers six months of new 2D and 3D seismic data acquisition, over 6,600 kilometers of legacy…
ITM Power sings non-binding deal to sell Motive Fuels Ltd
LONDON, UK: ITM Power, a leading manufacturer of electrolysers for hydrogen production, has announced that it has signed a non-binding Heads of Terms agreement for the sale of its Motive Fuels Ltd joint venture. Motive Fuels Ltd was established in March 2022 to develop and roll out hydrogen refuelling stations in the UK, with £30m…
Clean Food Group secures £2.3 million funding to scale up sustainable oils and fats technology
LONDON, UK: Clean Food Group, a UK-based biotech company that produces sustainable oils and fats from food waste, has announced a further £2.3 million in funding to accelerate the commercialisation of its technology. The funding round attracted international investment from industrial food specialists Doehler Group and Alianza Team, as well as existing investors Agronomics and…
Basware Oy reach agreement to acquire Glantus Holdings for £29.5 million
LONDON, UK: Genesis Bidco Limited, wholly-owned by Basware Oy, reached agreement to acquire Glantus Holdings Plc at the rate of £0.3342 in cash for each Glantus share. The acquisition values the entire issued and to be issued share capital of Glantus at approximately £17.8 million on a fully diluted basis and implies an enterprise value…
Tesla cuts Model Y prices in China amid falling sales
Tesla Inc has announced that it will reduce the prices of its Model Y long-range and performance versions in China starting from Aug. 14, according to a notice posted on its website on Monday. The electric car maker said it will lower the starting prices of both models by 14,000 yuan ($1,934.58), which represents a…
Exchange rates for GBP against major currencies on August 14, 2023
LONDON: The latest exchange rates for GBP against major currencies such as USD, EUR, JPY, AUD and more. Stay up-to-date on the latest fluctuations and trends in the GBP-exchange market. According to www.exchangerates.org.uk: GBP-EUR 1.1592 Pounds to Euros GBP-USD 1.2682 Pounds to Dollars GBP-NZD 2.1259 Pounds to New Zealand Dollars GBP-AUD 1.9582 Pounds to Australian…
Air Arabia reports record second quarter and first half 2023 results
SHARJAH, UAE: Air Arabia (PJSC), the Middle East & North Africa’s first and largest low-cost carrier operator, today reported a record second quarter and first half 2023 financial and operational results, as the airline continues to demonstrate remarkable performance and growth. Air Arabia registered a net profit of AED 459 million during the second quarter…
Kuniko appoints new COO with mining and sustainability expertise
SYDNEY, AUSTRALIA: Kuniko, a leading mining company with operations in Africa and Asia, has announced the appointment of Ms. Mona Schanche as its new Chief Operating Officer, effective 14th August 2023. Ms. Schanche will bring her distinguished background in the mining industry and her passion for sustainability to Kuniko, as the company aims to enhance…
Eshraq Investments appoints Mohamed Al Hashimi as new CEO
ABU DHABI, UAE: Eshraq Investments PJSC (Eshraq), a leading investment company in the UAE, announced today the appointment of Mohamed Al Hashimi as its new chief executive officer. Al Hashimi will lead the company in its new phase of expansion and development, following a strong turnaround in performance and profitability. Al Hashimi joins Eshraq Investments…
TAQA reports strong first half earnings driven by utilities business
ABU DHABI, UAE: Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utilities in Europe, Middle East and Africa, reported its first half earnings for the period ending 30 June 2023. TAQA’s performance was driven by strong and stable returns from its long-term contracted utilities business whilst it has remained focused…
Strike Energy to acquire Talon Energy and boost its Perth Basin business
SYDNEY, AUSTRALIA: Strike Energy has announced a deal to acquire Talon Energy Limited (ASX: TPD, Talon), a Perth Basin-focused oil and gas company, in a share swap scheme of arrangement. The deal will enhance Strike’s position as a leading gas producer and developer in the Perth Basin, where it operates the West Erregulla gas project….