DUBAI, UAE: Drake & Scull International PJSC (DSI), a regional market leader in integrated design, engineering, and development in the MEP, Water and Power and Oil and Gas sectors, has announced its reviewed financial results for the second quarter of 2023. The company reported a gross profit of AED 5 million, compared to AED 1…
SALAMA reports AED 12.26 million net profit in H1 2023
DUBAI, UAE: SALAMA, UAE’s largest Takaful solutions provider, has announced a net profit of AED 12.26 million for the first half of 2023, driven by the development of digital capabilities, improved underwriting discipline, expansion of the client portfolio, engaging in new partnerships, and reinforcement of distribution channels. The company’s insurance revenue grew by 28%, reaching…
AMAN Insurance posts AED 4 million net profit in Q2 2023
DUBAI, UAE: AMAN Insurance Company, a Dubai-based Islamic insurance and reinsurance provider, has announced a net profit of AED 4 million for the second quarter of 2023, a 179% increase from the same period last year, when it recorded a loss of AED 5 million. The company attributed the positive results to its strategic plan…
AssetCo gets FCA approval for Ocean Dial acquisition
LONDON, UK: AssetCo, the agile asset and wealth management company, has received the green light from the UK regulator to proceed with its acquisition of Ocean Dial Asset Management Limited, a specialist India-focused fund manager. The Financial Conduct Authority (FCA) has approved AssetCo’s change in control application, which was announced on 6 March 2023. The…
Savings Banks Group launches largest investment in its history to boost digitalisation
LONDON, UK: The Savings Banks Group, a Finnish cooperative banking group, announced today that it will launch an extensive business development project this autumn, which will include concrete steps towards the realisation of its digital vision. The project aims to enable the seamless integration of in-person and digital services, which will enhance the service experience…
Bunzl Plc announces acquisitions In Spain, Brazil, The Netherlands and Canada
LONDON, UK: Bunzl plc, the specialist international distribution and services Group, today announces that it has acquired three businesses and signed an agreement to acquire a further business across a range of sectors in Spain, Brazil, the Netherlands and Canada. In June, Bunzl acquired La Cartuja Complementos Hostelería, a distributor of foodservice and hospitality equipment…
Sims Limited to acquire Baltimore Scrap Corp for US$177 million
SYDNEY, AUSTRALIA: Sims Limited, a global leader in metal recycling, announced today that it has entered into a definitive agreement to acquire the assets of Baltimore Scrap Corp (BSC), one of the largest metal recyclers in the United States Northeast. The deal is expected to close in October 2023, subject to regulatory approvals and other…
Exchange rates for GBP against major currencies on August 15, 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 1.1627 Pounds to Euros GBP-USD 1.2684 Pounds to Dollars GBP-NZD 2.1197 Pounds to New Zealand Dollars GBP-AUD 1.9495 Pounds to Australian…
Kraft Heinz names North American president Carlos Abrams-Rivera as new CEO
Kraft Heinz, the food giant behind brands such as Oscar Mayer and Maxwell House, has announced that its North American president, Carlos Abrams-Rivera, will become its new CEO next year. Abrams-Rivera will succeed Miguel Patricio, who has led Kraft Heinz since 2019. Patricio took over as chief executive as the company faced challenges such as…
Ford hires former Apple executive to lead new digital services unit
Ford Motor on Monday said it has hired former Apple executive Peter Stern as the president of its newly formed Ford Integrated Services unit to help build new high-margin digital and subscription services. Stern, who previously oversaw Apple TV+, iCloud and Apple News+, will report to Ford CEO Jim Farley. In his new role, Stern…
Dubai to issue commercial licences for AI and Web3 companies
Dubai has announced that it will issue commercial licences to help companies operating in artificial intelligence (AI) and Web3 to set up businesses in the emirate. The licences, issued by the AI and Web 3.0 Campus through the Dubai International Financial Centre (DIFC), will be 90 per cent subsidised and will support activities to aid…
SaskTel launches 5G network in Warman and Martensville
SaskTel, the provincial telecommunications provider, has announced the debut of its 5G network in the cities of Warman and Martensville in Saskatchewan. The 5G network, which offers data speeds of up to 1.2 Gbps download, is available in parts of Warman and Martensville starting today. SaskTel aims to provide 5G coverage to most parts of…