BUENOS AIRES: Corporación América Airports S.A. (NYSE: CAAP), one of the world’s largest private airport operators, announced Thursday it has acquired the remaining 25% stake in its Italian subsidiary, Corporación América Italia S.p.A. (CAI), from the Investment Corporation of Dubai (ICD). The transaction, completed through a share swap agreement, gives CAAP full ownership of CAI, which holds a 62.28%…
Sagtec to acquire Smart Bridge in $17.6 million deal, expanding AI capabilities
HONG KONG: Sagtec Global Limited (NASDAQ: SAGT), a leading provider of customizable software solutions, announced Thursday it has signed a term sheet to acquire Smart Bridge Technology Limited, a fast-growing agentic AI software company, for approximately $17.6 million. The proposed deal, priced at roughly 10 times Smart Bridge’s price-to-earnings ratio, is pending a definitive agreement…
JDC Power Systems appoints John Raio as CEO
CONCORD: JDC Power Systems, a leading electrical systems integrator for the data center market, announced Thursday the appointment of John Raio as CEO, effective immediately. Raio brings over 25 years of leadership experience in critical infrastructure, most recently serving as CEO and founding member of Quality Uptime Services, where he expanded the company into a national…
Audi, Indra, Qualcomm launch toll payment project to ease congestion
SUNTRX TEST FACILITY: Indra, Audi of America and Qualcomm Technologies, Inc. are collaborating on a joint project to develop next-generation toll payments using cellular vehicle-to-everything (C-V2X) technology. According to a statement, The initiative aims to reduce congestion, standardize payments nationwide and improve the driver experience. The system, based on the global SAE J3217 C-V2X standard, allows…
UK government plans to double pension megafunds to boost investment, improve returns
LONDON: Millions of British workers could retire with larger pension pots under government plans to double the number of U.K. pension “megafunds” by 2030, unlocking billions for domestic investment. Reforms set out in the upcoming Pension Schemes Bill will require multi-employer defined contribution (DC) pension schemes and Local Government Pension Scheme (LGPS) pools to manage at least…
Xiaomi unveils Tesla Model Y competitor YU7 in Beijing showrooms
Xiaomi introduced its latest electric SUV in Beijing on Thursday, marking another step in the smartphone maker’s ambitious push into China’s competitive auto market. The YU7, positioned as a rival to Tesla’s popular Model Y, is now on display at 13 Xiaomi retail locations across the capital, with pre-orders set to begin in July. The launch follows the…
TotalEnergies sells 12.5% stake in Nigerian offshore field for $510 million
PARIS: TotalEnergies announced Wednesday that its subsidiary, TotalEnergies EP Nigeria Ltd., has agreed to sell its 12.5% non-operated interest in Nigeria’s OML118 Production Sharing Contract to Shell Nigeria Exploration and Production Company Ltd. for $510 million. The OML118 PSC, located about 120 kilometers (75 miles) south of the Niger Delta, includes the Bonga field, which began production…
Helium Ventures to rebrand as VaultZ Capital, plans bitcoin treasury strategy
LONDON: Helium Ventures plc announced Tuesday a series of strategic moves, including a proposed name change to VaultZ Capital plc, a £1.2 million ($1.5 million) equity fundraise and plans to establish a Bitcoin treasury function. The company entered a non-binding memorandum of understanding with Cayman Islands-based NewQube Holdings Ltd. to manage Bitcoin investments through a…
Xamble Group acquires strategic stake in Malaysia’s loyalty platform B Infinite
SYDNEY: Xamble Group Limited (ASX:XGL), a prominent Southeast Asian influencer technology platform, has announced a strategic investment in B Infinite, one of Malaysia’s top lifestyle-based customer loyalty programs. The investment, made alongside a consortium led by 7-Eleven Malaysia, positions Xamble to further enhance its influencer marketing and social commerce ecosystem. The consortium, comprising Xamble, 7-Eleven…
Stellantis appoints Antonio Filosa as new CEO
MILAN: Auto giant Stellantis appointed North American Chief Operating Officer Antonio Filosa as its new chief executive Wednesday, ending a monthslong search to fill the company’s leadership void. The multinational conglomerate, which owns brands including Jeep, Dodge, Fiat, Chrysler and Peugeot, said it will hold an extraordinary shareholder meeting in the coming days to elect…
Signify names As Tempelman as new CEO
EINDHOVEN: Signify (Euronext: LIGHT), the world’s leading lighting company, announced Wednesday that As Tempelman will become its new chief executive officer starting Sept. 1, pending his appointment to the Board of Management. Current CEO Željko Kosanović will remain interim leader until then. “We are thrilled to appoint As Tempelman as CEO of Signify,” said Gerard…
Playtech Plc signs deal to sell HAPPYBET Germany
LONDON: Playtech plc (LSE: PTEC), along with its subsidiaries (the “Playtech Group”), has announced a definitive agreement with NetX Betting Ltd., a subsidiary of Frankfurt-listed German operator pferdewetten.de AG, regarding the sale of its HAPPYBET business in Germany. The move follows Playtech’s decision to close its Austrian HAPPYBET operations in late 2024 and initiate a…