Binance, the world’s largest cryptocurrency exchange by trading volume, is shutting down its regulated fiat-to-crypto platform, Binance Connect, effective from today, 16 August. The platform, which launched in March 2022, allowed users to buy and sell over 50 cryptocurrencies using fiat card payments such as Mastercard and Visa. According to a report by Cointelegraph, the…
Ville Talasmäki appointed as Chief Investment Officer of Sampo Group
LONDON, UK: Ville Talasmäki, 47, has been appointed as Group Chief Investment Officer and Group Executive Committee Member of Sampo, the largest P&C insurer in the Nordic region, offering services across all countries, customer segments and products. The appointment is subject to the completion of the partial demerger of Sampo plc and is expected to…
Chaarat Gold sells Kapan Mine in Armenia for $55.4 million
LONDON, UK: Chaarat Gold, a gold mining company listed on AIM, has announced that it has agreed to sell its Kapan Mine in Armenia to a local fintech company, Quanto, for $55.4 million. The Kapan Mine is a polymetallic operation that produces copper and zinc concentrates with gold and silver by-products. Chaarat acquired the mine…
Molecular Energies acquires fintech company Quanto and advances hydrogen engine project
LONDON, UK: Molecular Energies PLC’s Green House Capital (GHC) has acquired a 70% stake in Quanto, a Paraguayan fintech company that has developed an app-based payment system. The company has also reported progress on its dual fuel project that aims to convert diesel engines to run on a mixture of diesel and hydrogen. Quanto is…
Glanbia CEO Siobhán Talbot to retire, Hugh McGuire to take over
Glanbia plc, a global nutrition group, has announced that its Group Managing Director Siobhán Talbot will retire from the company after ten years in the role. She will step down from her position and from the Glanbia Board on 31 December 2023 and will retire from the Group in January 2024. Talbot has been credited…
Concurrent Technologies to acquire Stryker for $3.375 mn
LONDON, UK: Concurrent Technologies, a UK-based company that specialises in high-end embedded computer solutions for critical applications, has announced that it has agreed to buy Phillips Machine & Welding Company, also known as Stryker, a US-based company that provides aerospace and military products and services, for $3.375 million (approximately £2.64 million). The deal will enhance…
Exchange rates for GBP against major currencies on August 16, 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 1.1639 Pounds to Euros GBP-USD 1.2704 Pounds to Dollars GBP-NZD 2.1298 Pounds to New Zealand Dollars GBP-AUD 1.9701 Pounds to Australian…
M&P to buy Assala Energy for $1.1 billion in Gabon expansion
M&P, a French oil and gas company, has signed a deal to acquire Assala Energy, a British firm that operates upstream and midstream assets in Gabon, for $1.1 billion, the company announced on Tuesday. The deal, which is subject to regulatory approvals, will boost M&P’s presence and production in Gabon, where it has been operating…
Apple to produce iPhone 15 in India soon after China launch
Apple Inc., the world’s most valuable technology company, is gearing up to produce its latest iPhone 15 model in India, shortly after it starts shipping from China, Bloomberg reported. The company has entrusted Foxconn Technology Group, its main manufacturing partner, to prepare a plant in Sriperumbudur, Tamil Nadu, to deliver the new devices to the…
Norway’s oil fund earns $143 billion in first half of 2023
Norway’s sovereign wealth fund, the world’s largest, reported a 10% return, or $143 billion, in the first half of 2023, recovering from one of its worst years ever. The fund, which manages Norway’s oil and gas revenues, benefited from a rally in technology stocks after a weak 2022. The fund invested almost 14% of its…
Intel abandons $5.4 billion deal to buy Tower Semiconductor
Intel Corp, the world’s largest chipmaker, has decided to drop its $5.4 billion deal to acquire Tower Semiconductor Ltd, an Israeli contract chipmaker, after failing to get regulatory approval from China, Reuters reported on Tuesday. Intel, which announced the deal to buy Tower in February 2022, did not receive clearance from Chinese regulators by the…
Occidental buys Carbon Engineering Ltd for $1.1 billion to boost green ambitions
Occidental Petroleum Corp, a U.S. oil and gas producer, announced on Tuesday that it has agreed to pay $1.1 billion for Carbon Engineering Ltd, a Canadian company that develops technology to capture carbon dioxide (CO2) from the air and store it underground or use it for making low-carbon products. The deal is part of Occidental’s…