OSLO, NORWAY: Inin Group AS has signed a term sheet to acquire a 70 percent ownership in TW Gruppen AS, a leading specialist within environmentally friendly mass handling, transport and recycling. With this acquisition, Inin Group establishes mass handling and recycling as its fourth investment platform. Inin Group is an industrial owner that invests into…
Empower approves distributing AED 425 million dividends to shareholders
DUBAI – UNITED ARAB EMIRATES: The General Assembly of Emirates Central Cooling Systems Corporation PJSC (Empower), in a meeting convened with a quorum of 86.82% of the Company’s paid-up share capital, approved the Board’s proposal on the distribution of cash dividends to shareholders in a total amount of AED 425,000,000 (AED 0.0425 per share, representing…
Petrofac and Hitachi selected by TenneT for Euro 13bn European power grids project
LONDON, UK: Petrofac and Hitachi Energy have been selected by TenneT, the Dutch-German Transmission System Operator, to supply multiple offshore platforms and onshore converter stations to accelerate the integration of bulk renewables into European power grids. Petrofac and Hitachi Energy were awarded the multi-year Framework Agreement as part of TenneT’s ambitious 2 gigawatt (2GW) high…
Saint-Gobain achieves flat glass production using more than 30% hydrogen
LONDON, UK: Saint-Gobain is the first manufacturer in the world to carry out a test production of flat glass using more than 30% hydrogen during Research & Development (R&D) trials at the Herzogenrath site in Germany. With this world first, Saint-Gobain has proven the technical feasibility of manufacturing flat glass with a significant proportion of…
Innovate UK awards £1.96m grant for mobile recycling system
LONDON, UK: Recyclus Group Ltd, in collaboration with the University of Birmingham (UoB), has been awarded funding of £1.96 million from the UK Government’s Innovate UK, to create a mobile battery recycling system capable of safely handling any type of lithium-ion (Li-ion) battery. Recyclus will lead the project and design and build a compact prototype…
QinetiQ awarded $92.6mn Digital Night Vision Technology contract by U.S. Army
LONDON, UK: QinetiQ Group has won a single award Indefinite Delivery Indefinite Quantity (IDIQ) by the U.S. Army for a Digital Night Vision Technology (DNVT) contract worth up to $92.6M over four years. The DNVT effort utilises and continues more than two decades of Department of Defense science and technology research, development and investment into…
Keywords Studios acquires Digital Media Management Inc for upto $100 million
LONDON, UK: Keywords Studios, the international technical and creative services provider to the global video games and entertainment industries, has acquired Digital Media Management Inc (DMM), a leading US-based full-service social media agency. Digital Media Management Inc is an award-winning social media marketing agency founded in 2010 by Luigi Picarazzi. Headquartered in Los Angeles with…
How much will Google charge for its new Android tablet?
If we are to believe the current rumors about Google’s Pixel Tablet, the price could range from $400 to $600. The former price point would be cheaper than its competitors, while the latter would match the prices of tablets from Apple and Samsung. Google has stated that it does not intend to compete with the…
Airfares of European airlines to rise by 15% this year
Travel by air will become more expensive for consumers. Air fares could rise between 10% and 15% this year but are unlikely to increase more than 20%, Chief Executive of Ryanair Michael O’Leary has said. Ryanair’ chief said earlier the era of the €10 (£8.80) flights is over as fuel costs rocketed after Russia’s invasion…
EU member states to stop selling new CO2-emitting cars by 2035
Following a compromise between the European Commission and Germany on the exemption of internal combustion engine cars powered by e-fuels, EU member states have agreed to prohibit the sale of new cars emitting CO2 by 2035. The Council of the EU has adopted a regulation setting stricter CO2 emissions standards for new cars and vans….
Lucid Motors to reduce workforce by 18% in a major restructuring
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…