Lucid Motors intends to implement a significant restructuring plan to reduce costs and increase production of its Air luxury sedan, which includes a reduction of approximately 1,300 employees, equivalent to about 18% of its workforce. The company stated that it expects to incur one-time charges of between $24 million and $30 million related to the…
Meezan Bank partners with PaySa to expand point of sale payment services
KARACHI, PAKISTAN: Meezan Bank and PaySa, a fintech startup specializing in digital payments, have partnered to enable Point of Sale (POS) payment services to tap into the country’s booming digital payment ecosystem. According to this agreement, PaySa will deploy POS terminals and grow the Bank’s merchant and retailer network as an independent sales organization. In…
How To Grow A Business With Client Satisfaction In Mind
Starting and growing a successful business takes hard work, dedication, and resilience. Yet, having the right strategies in place can make all the difference to ensure your company is well on its way to success. One important aspect of growth that often gets overlooked is client satisfaction — how satisfied are your clients with the…
Renewable Ventures Nordic forms new subsidiary following Scandinavian Astor Technologies deal
STOCKHOLM, SWEDEN: Renewable Ventures Nordic AB (RVN) has begun the process of establishing a new subsidiary in order to take advantage of the increased interest in structural deals that the company’s management and board see. The subsidiary is expected to be established in April 2023 and will be called Renewable Ventures Nordic 3 AB. RVN’s…
Navamedic ASA offers to acquire Sweden based Sensidose AB for SEK 75 million
OSLO, NORWAY: Navamedic ASA (OSE: NAVA), a Nordic pharma company and provider of high-quality products to hospitals and pharmacies, has submitted a cash offer to acquire all shares in Sensidose AB for approximately SEK 75 million. The offer is recommended by the independent bid committee of Sensidose AB. The Sensidose shares are currently listed on…
Vorensys signs agreement to use RentGuarantor service
LONDON, UK: RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector, has entered into an agreement with Vorensys for the use of the RentGuarantor service. Vorensys provides comprehensive UK tenant referencing solutions for letting agents and landlords, including…
RHI Magnesita acquires Dalmia GSB Refractories GmbH for €13 million
LONDON, UK: RHI Magnesita announced the acquisition of Dalmia GSB Refractories GmbH (DGSB) for a cash consideration of approximately €13 million. DGSB is a leading supplier of monolithic lances and other precast products to European steel customers for use in the desulphurisation and homogenisation of molten steel, based in Bochum, Germany. Dalmia GSB Refractories GmbH…
Anagenics Limited appoints Scott Greasley as CEO and Managing Director
SYDNEY, AUSTRALIA: Anagenics Limited (AN1) has appointed Scott Greasley as CEO and Managing Director of the company, effective 1 April 2023. Scott Greasley has been an Executive Director of Anagenics since 8 July 2022 and full-time employee since 1 September 2022, focusing on M&A, business development and working with management on the AN1 transformation. Following…
8VI Holdings gets financial advisory license in Singapore and Malaysia
SINGAPORE: 8VI Holdings Limited has obtained regulatory approvals to commence its Financial Advisory businesses in Singapore and Malaysia. The Financial Advisory business vertical was established in the previous financial year as part of the Group’s plans to expand its offerings and bridge gaps in the VI Community’s overall wealth management journey. 8VI FIN Malaysia Sdn….
United States and Japan sign trade deal to strengthen their EV battery supply chains
The United States and Japan have announced a trade deal on electric vehicle (EV) battery minerals that aims to strengthen their battery supply chains and grant Japanese automakers wider access to the new $7,500 U.S. EV tax credit. The agreement prohibits both countries from enacting export restrictions on the minerals most critical for EV batteries,…
$35 trillion investment in transitional technologies would be needed by 2030 to curb global heating: IRENA
The head of the International Renewable Energy Agency (IRENA), Francesco La Camera, has recently stated that the global energy transition is not on track to prevent the worst impacts of the climate emergency. He has emphasized the need for a fundamental course correction to effectively move away from fossil fuels. IRENA is an intergovernmental organization…
Alibaba will split into six independent business groups
Alibaba will split its company into six business groups, each with the ability to raise outside funding and go public, in the most significant reorganization in the global e-commerce giant’s history. Each business group will be managed by its own CEO and board of directors. Alibaba said in a statement that the move is “designed…