LONDON: Valereum Plc (AQSE: VLRM) announced Tuesday a €1.7 million strategic investment in Fideum Group Limited, a blockchain-based fintech company, in exchange for a minority stake. The investment, payable in cash, bitcoin or stablecoin, will be completed in multiple tranches, with the first expected by the end of June 2025 and full completion targeted by…
Dow Jones Industrial Average plummets over 1,000 points as Middle East tensions roil markets
NEW YORK: The Dow Jones Industrial Average (DJIA) suffered its worst single-day drop in months Friday, plunging more than 1,000 points as escalating Middle East tensions sent shockwaves through global markets. According to reports, the sell-off at Dow Jones snapped a four-day winning streak and erased the week’s gains, with investors scrambling to de-risk amid…
UK unemployment hits 4-year high, wage growth holds at 5.3%: Arbuthnot Latham forecasts rate cuts
LONDON: Arbuthnot Latham, the historic British bank founded in 1833, released its latest Treasury Market Commentary on June 13, 2025, highlighting critical developments in global and domestic economies. The report covers rising UK unemployment, wage growth, central bank rate expectations, and geopolitical trade dynamics. Below is a detailed breakdown of the findings. UK Economic Indicators Show Mixed…
Global EV sales rise 24% in May, led by Chinese market growth
Global sales of electric and hybrid vehicles climbed 24% in May to 1.6 million units, driven largely by China, which accounted for one million sales both domestically and abroad, according to data from Rho Motion. The report also noted a more modest month-over-month increase of 8%. Through the first five months of the year, global EV sales…
AstraZeneca, CSPC Pharmaceuticals form AI-driven research partnership
LONDON: AstraZeneca has entered a strategic research collaboration with China-based CSPC Pharmaceuticals Group Limited to accelerate the discovery of novel oral therapies using artificial intelligence. The partnership will focus on identifying and developing pre-clinical candidates for chronic diseases, including a small-molecule oral therapy for immunological conditions. The research will leverage CSPC’s AI-powered drug discovery platform, which analyzes…
Animalcare expands Asia-Pacific presence with investment in Australian veterinary firm, InVetro
LONDON: Animalcare Group Plc (AIM: ANCR) has acquired a 25% strategic equity stake in Australian veterinary pharmaceutical company InVetro Pty Ltd for A$3 million, bolstering its presence in the Asia-Pacific market. The investment aligns with Animalcare’s expansion strategy and follows its January acquisition of Randlab. InVetro will use the funds to scale its commercial footprint, expand its…
MPE Management Co. offers to acquire Renold Plc in £186.7 million deal
LONDON: Renold PLC has agreed to a recommended cash acquisition by MPE Bid Co, a newly formed entity controlled by funds managed by MPE Management Co. The deal, valued at approximately £186.7 million on a fully diluted basis, will be conducted through a Scheme of Arrangement under Part 26 of the Companies Act 2006. Under the terms…
Dundee Precious Metals to acquire Adriatic Metals in $1.25 billion deal
LONDON: Dundee Precious Metals Inc. (DPM) has agreed to acquire Adriatic Metals Plc in a recommended cash and share deal valued at approximately $1.25 billion, the companies announced Friday. Under the terms of the transaction, Adriatic shareholders will receive 0.1590 of a new DPM share and 93 pence in cash for each Adriatic share. The offer values…
Vulcan Energy receives building permits for phase one renewable power plant in Germany
SYDNEY: Vulcan Energy (ASX: VUL, FSE: VUL) announced it has secured building permits for a 30-megawatt geothermal renewable energy plant and electrical substation as part of its Phase One Lionheart Project in Landau, Germany. The project aims to integrate lithium production with renewable energy generation for Europe’s battery electric vehicle industry. The geothermal plant will…
ASX sells stake in Digital Asset Holdings for $57 million, books $42 million gain
SYDNEY: The Australian Securities Exchange (ASX) announced Thursday it has sold its stake in U.S.-based Digital Asset Holdings, LLC, for approximately $57 million, recognizing a pre-tax gain of $42 million for fiscal year 2025. The sale marks a $10 million pre-tax gain over ASX’s original acquisition cost. ASX said the gain will be recorded in…
Brookfield Infrastructure sells 23.2% stake in Dalrymple Bay Infrastructure
BRISBANE: Brookfield Infrastructure Partners has agreed to sell approximately 23.2% of its stake in Dalrymple Bay Infrastructure Limited (ASX:DBI), the company announced Thursday. The sale involves 115 million stapled securities through a block trade agreement underwritten by Barrenjoey Markets Pty Limited. Following the transaction, Brookfield will retain a 26.25% interest in DBI, remaining its largest…
India market reacts to RBI policy, inflation data, and bond buyback plans
India Market Watch: Government Bond Yields Dip Amid Value Buying and U.S. Trends Indian government bond yields edged lower on Thursday as investors engaged in value buying, taking cues from a decline in U.S. Treasury yields. The India market remained cautious, however, as traders awaited key developments, including a scheduled bond buyback and the release of domestic…