Pakistani Chaunsa mango will land in Europe and Middle East in the first week of July, Patron All Pakistan Fruits and Vegetables Exporters Association Waheed Ahmed said on Tuesday. Mango exports from Pakistan are due to start on May 20, 2023 in accordance with the government’s strictly timed export policy. Chaunsa comes later. Exporters said…
Quantum computing to tackle combustion challenges
PARIS, FRANCE: A research project, funded by the French Defense Innovation Agency, aims to develop the first hybrid quantum-classical platform to simulate the complex phenomenon of combustion and its applications. The project, called VulQain, is a collaboration between Eviden, an Atos business, ColibrITD, a quantum software start-up, and ONERA, the French aerospace research center. The…
EHC and Croma-Pharma revise business combination agreement, adjust valuation to €712.5 million
AMSTERDAM: EHC and Croma-Pharma GmbH (Croma) have amended their business combination agreement, adjusting the enterprise value of Croma to €712.5 million from €850 million. The changes involve transferring 20% of Sponsor Shares to EHC for cancellation and increasing the exercise price of 20% of Sponsor Warrants. The amendments aim to align stakeholder interests and attract…
Vopak to sell Savannah terminal to BWC Terminals
ROTTERDAM, THE NETHERLANDS: Vopak, the world’s leading independent tank storage company, has agreed to sell its terminal in Savannah, USA, to BWC Terminals, a US-based bulk liquids storage company, for USD 106 million. The terminal, which has a capacity of 250,566 cubic meters, is mainly used for the storage of vegetable oils, asphalt and specialty…
OpenAI to Launch New Open-Source Language Model
San Francisco: OpenAI, the nonprofit research company that created ChatGPT, is planning to launch a new open-source language model, according to a report by The Information. The development comes as companies race to develop open-source alternatives to ChatGPT. Earlier this year, Facebook owner Meta publicly released a large language model (LLM) for researchers. Open-source engineers…
Encora to acquire Softelligence, expanding European presence in digital engineering
Encora, a leading global next-gen digital engineering provider headquartered in Scottsdale, Arizona, has announced its plans to acquire Softelligence, a prominent software engineering services provider based in Romania. The financial details of the transaction were not disclosed. The acquisition is expected to enhance Encora’s presence in Europe and enable the company to expand its services…
Vodafone to slash 11,000 jobs in bid to boost competitiveness
Vodafone, the telecoms giant, has announced plans to cut 11,000 jobs across its global operations over the next three years as part of a turnaround plan to improve its performance and competitiveness. The company’s new chief executive, Margherita Della Valle, who took over the role in May, said the company needed to change and simplify…
Stellantis to acquire 33.3% stake in hydrogen fuel cell maker Symbio
PARIS, FRANCE: Stellantis, the world’s third-largest automaker, has signed a deal to buy a 33.3% stake in Symbio, a hydrogen fuel cell system maker for hydrogen mobility. The deal is expected to close in the third quarter of 2023. Symbio is a joint venture between Faurecia, a French automotive supplier, and Michelin, a French tire…
Australian Strategic Materials and Noveon Magnetics partner to supply rare earth magnets
SYDNEY, AUSTRALIA: and SAN MARCOS, TEXAS: Australian Strategic Materials (ASX:ASM) and Noveon Magnetics Inc. announced a strategic partnership to supply rare earth magnets. Under the terms of the agreement, ASM will supply Noveon with 100 tonnes of neodymium iron boron (NdFeB) alloy from its Korean Metals Plant (KMP) over a period of one year. ASM…
Middle Island acquires East Tennant project from Strategic Energy
SYDNEY, AUSTRALIA: Middle Island Resources Limited (ASX: MDI), a gold explorer with a focus on the Barkly Super Project in the Northern Territory, has announced that it has agreed to buy the East Tennant project from Strategic Energy Resources Ltd (ASX: SER) for 18.24 million MDI shares, valued at $0.035 per share. The East Tennant…
Exchange rates for GBP against major currencies on May 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 1.1482 Pounds to Euros GBP-USD 1.2474 Pounds to Dollars GBP-NZD 2.002 Pounds to New Zealand Dollars GBP-AUD 1.8707 Pounds to Australian…
Seeing Machines signs exclusive deal with Collins Aerospace for eye-tracking solutions
LONDON, UK: Seeing Machines Limited, an Australian company that develops AI-powered eye-tracking technology for transport safety, has signed an exclusive and perpetual licence agreement with Collins Aerospace, a business unit of Raytheon Technologies and a leader in aerospace and defence solutions. The agreement will enable the companies to jointly market and deliver eye-tracking solutions to…