In the world of international money transfers, Ripple has emerged as a game-changing technology. Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc. Its goal is to facilitate secure, fast, and low-cost international money transfers, as well as payments and currency exchanges. One of the key benefits…
UK to end pre-departure COVID-19 test rule for arrivals from China
LONDON: The British government said it would end the requirement for people flying from mainland China to England to provide proof of a negative pre-departure COVID-19 test from April 5. From Friday (Mar 17), the UK Health Security Agency’s voluntary, on-arrival testing programme of travellers arriving from China to London’s Heathrow airport will also end,…
Pakistan tax authorities discover Rs70 billion worth of trade-based money laundering by solar panels importers
KARACHI: Pakistan’s tax authority has made a landmark detection of Rs70 billion on account of over-invoicing and trade-based money laundering by solar panels importers. Federal Board of Revenue (FBR) carried out sector-based audit of solar penal importers to check twin aspects of over-invoicing and trade based money laundering (TBML). State Bank of Pakistan also recently…
Sanofi cuts U.S. list price of Lantus, its most-prescribed insulin, by 78%
PARIS, FRANCE: Sanofi announces that it will cut the list price of Lantus (insulin glargine injection) 100 Units/mL, its most widely prescribed insulin in the U.S., by 78 percent. The company also will establish a $35 cap on out-of-pocket costs for Lantus for all patients with commercial insurance, underscoring its longstanding commitment to offer affordable…
Thomas Berge appointed Chief Executive Officer at LINK Mobility Group
OSLO, NORWAY: Thomas Berge has been appointed Chief Executive Officer (CEO) at LINK Mobility Group Holding ASA (LINK). Berge has since May 2022 acted as Interim CEO at LINK and before that as CFO at LINK since September 2016. He has also previously acted as Interim CEO at LINK. Following a diligent process, the Board…
Link Group will sell its Banking & Credit Management business to LC Financial for €30mn
SYDNEY, AUSTRALIA: Link Group (ASX: LNK) has entered into a Share Purchase Agreement with LC Financial Holdings Limited (LCFH) for the sale of its Banking & Credit Management (BCM) business for cash consideration of up to €30 million. Link Group will receive €20 million cash consideration at completion plus deferred cash consideration of €5 million…
Close the Loop to acquire ISP Tek Services and Captive Trade Corp. for $66 million
SYDNEY, AUSTRALIA: Close the Loop Limited has entered into an agreement to acquire 100% of ISP Tek Services LLC and Captive Trade Corp., US-based electronics refurbisher and trading platform businesses based in Southlake, Texas, USA, for a total consideration of up to US$66 million (A$99.7m). The acquisition will provide the Company with significant consumer and…
British government ministers barred from using TikTok on security grounds.
British government ministers have been banned from using social media app TikTok on their work phones and devices on security grounds. The government fears sensitive data held on official phones could be accessed by the Chinese government, BBC reported. Cabinet Minister Oliver Dowden said the ban was a precautionary move but would come into effect…
Google increases price of YouTube TV subscription to $73/month starting April 2023
Google has increased the price its YouTube TV subscription from $65 per month to $73 per month starting in April 2023. YouTube TV is Google’s cable replacement. It provides access to live TV and cable channels, delivered through an internet connection. “As content costs have risen and we continue to invest in the quality of…
Saint-Gobain and Dalsan to merge their plaster and plasterboard activities in Turkey
LONDON, UK: Saint-Gobain and Dalsan have obtained the necessary approval from competition authorities to merge their plaster and plasterboard activities in Turkey. Together, Saint-Gobain Rigips and Dalsan Alçi generated revenues in excess of €160 million in 2022. They will benefit from a leadership position with an annual production capacity of 100 million square meters for…
Diploma Plc has acquired Tennessee Industrial Electronics LLC for £76 million
LONDON, UK: Diploma Plc announced the acquisition of Tennessee Industrial Electronics LLC (TIE), a market leading value-add distributor of aftermarket parts and repair services into the fast-growing US industrial automation end market, for ca. £76 million. Diploma has a proven track record of accelerating organic growth through acquisitions. In order to fund high quality acquisition…
Credit Suisse announces to borrow 50 billion Swiss francs from Swiss National Bank
Credit Suisse announced to borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility. Credit Suisse shares fell sharply hitting an all-time low after its top investor Saudi National Bank was quoted as saying it won’t be able to provide further…