ISLAMABAD: Pakistan’s oil and gas sector is poised for growth as the government accelerates exploration efforts, improves liquidity, and addresses long-standing challenges in the energy sector, according to a report issued by AKD Securities. Recent developments, including the allocation of new exploration blocks and rationalized gas prices, are expected to revive exploration and production (E&P) activities,…
B&M European Value Retail appoints Tjeerd Jegen as CEO
LONDON: B&M European Value Retail S.A, the UK’s leading variety goods retailer, announced the appointment of Tjeerd Jegen as Chief Executive Officer. Tjeerd will take over from Mike Schmidt, currently interim Chief Executive Officer on 16th June 2025. Tjeerd brings broad international retail experience having worked in leadership roles at Ahold Delhaize, Metro, Tesco, Woolworths, HEMA and Takko Fashion…
Alibaba’s net income surged to $1.65 billion driven by AI and cloud growth
HANGZHOU: Alibaba Group Holding Ltd. (NYSE: BABA) announced strong financial results for the quarter and fiscal year ended March 31, 2025, with revenue growth fueled by its artificial intelligence and cloud businesses. The Chinese e-commerce and tech giant reported a 7% year-over-year revenue increase for the quarter, reaching $32.58 billion (RMB 236.45 billion). Net income surged 1,203%…
Peet CEO Brendan Gore to step down after two decades
PERTH: Peet Limited (ASX:PPC) announced Thursday that Managing Director and CEO Brendan Gore will step down on July 1 after 20 years at the helm. Gore, who led the residential land development company through key acquisitions and market expansions, said the timing was right for a transition. “With Peet in a strong position, I look…
Ondine Biomedical eyes US market expansion
LONDON: Ondine Biomedical Inc. (LON: OBI), a leader in light-activated antimicrobial therapies, announced significant milestones in its 2024 annual report, positioning the company for accelerated growth in 2025 and beyond. Key achievements include robust commercial expansion, strategic partnerships and the launch of a pivotal Phase 3 clinical trial in the U.S. Commercial and Clinical Momentum …
Archer Limited reports strong Q1 earnings, launches shareholder return program
HOUSTON: Archer Limited, a leading provider of drilling and well services, reported strong financial results for the first quarter of 2025 and confirmed its inaugural quarterly cash distribution to shareholders. The company announced revenue of $342.5 million, an 11% year-over-year increase, while EBITDA climbed 9% to $33.5 million, underscoring Archer’s ability to expand revenues and…
Sigma Healthcare eyes expansion and profitability after merger with Chemist Warehouse
MELBOURNE: Sigma Healthcare Limited (ASX: SIG) is entering a new era of expansion and profitability following its merger with CW Group Holdings Limited, the parent company of Chemist Warehouse. The deal, finalized on Feb. 12, positions the newly combined entity as Australia’s leading pharmaceutical wholesaler, distributor, and retail pharmacy franchisor. The merger comes at a…
Napatech, Eideticom unveil cutting-edge cryptographic, compression solutions for data centers
COPENHAGEN: Napatech, a leading provider of programmable network interface cards (NICs), has partnered with Eideticom to introduce new solutions for cryptographic acceleration and transparent compression in data centers. The collaboration aims to optimize performance for compute-intensive workloads in mission-critical networks. The Cryptographic Accelerator offloads security operations, supporting both classical and post-quantum algorithms to ensure future-proof…
Serco secures £1 billion Royal Navy contracts to expand maritime services
LONDON: Serco, a leading international provider of critical government services, has been awarded three major contracts by the UK Ministry of Defence, totaling over £1 billion, to support maritime operations for the Royal Navy. The contracts, set to commence later this year, will replace existing services and introduce new capabilities. Serco has been a key…
Bluebird Mining weighs options after Philippine permit renewal
LONDON: Bluebird Mining Ventures Ltd. said it is evaluating potential opportunities following the renewal of its flagship Philippine gold project permit, including a possible sale of its remaining stake. The pan-Asian gold developer disclosed that its local partner has expressed interest in acquiring Bluebird’s remaining interest in the project. While discussions are set to begin,…
Filtronic secures Airbus deal for Eutelsat OneWeb Satellite Expansion
SEDGEFIELD: Filtronic plc (AIM: FTC), a specialist in aerospace and defense technologies, has secured a contract to develop and supply advanced filter and diplexer assemblies to Airbus Defence and Space for its latest satellite production for Eutelsat OneWeb. The deal will see Filtronic deliver flight sets for payload integration in 2026, supporting Eutelsat OneWeb’s expansion…
Greencore to acquire Bakkavor Group in £1.2 billion deal, creating leading UK convenience food business
LONDON: Greencore Group PLC has agreed to acquire Bakkavor Group PLC in a deal valued at approximately £1.2 billion, creating one of the largest UK convenience food businesses. Under the terms of the recommended acquisition, Bakkavor shareholders will receive 0.604 new Greencore shares and 85 pence in cash per share, valuing each Bakkavor share at…