PERTH: Hastings Technology Metals has entered a binding agreement with Wyloo Consolidated Investments Pty Ltd. to sell a 60% stake in the Yangibana Rare Earths and Niobium Project, forming a 60:40 unincorporated joint venture (UJV). The deal, announced Friday, aims to accelerate development of the Western Australia-based project while reducing financial risks for Hastings. Key…
Comms Group to acquire TasmaNet for $10 million
SYDNEY: Comms Group Limited (ASX: CCG) announced Friday it has signed a binding agreement to acquire the business and assets of TasmaNet, a Tasmania-based provider of premium communication and managed IT services, in a deal expected to significantly expand its market share and revenue. The acquisition, valued at $10 million ($8.5 million upfront and $1.5…
GameSquare’s Zoned and Fortnite to develop SpongeBob SquarePants-themed games
Zoned, a subsidiary of GameSquare (Nasdaq: GAME), has signed a license agreement with Paramount Game Studios to develop SpongeBob SquarePants-themed games within Fortnite, the company announced Thursday. The partnership builds on a successful initial campaign in December 2024, which introduced Bikini Bottom to thousands of fans and gamers. Paramount sees the expansion as an opportunity…
Rio Tinto to invest $1.2 billion in Isle-Maligne hydroelectric plant modernization
ALMA: Rio Tinto is investing $1.2 billion (CA$1.7 billion) to modernize its Isle-Maligne hydroelectric power plant, marking its largest single investment in hydroelectric assets since the 1950s. The renovation aims to secure the future of low-carbon aluminum production in Quebec’s Saguenay–Lac-Saint-Jean region, ensuring job stability and an efficient, safe, and reliable renewable energy supply for…
Konecranes names Marko Tulokas as President and CEO
HELSINKI: Konecranes has appointed Marko Tulokas as its new president and CEO, effective June 1, the company announced Thursday. Tulokas, 52, will succeed Anders Svensson, who will leave the company on July 19. Until his departure, Svensson will serve as an advisor to ensure a smooth transition. Tulokas currently leads Konecranes’ Industrial Equipment business area and…
Lenovo Unveils ThinkStation PGX: A Compact AI Mini Supercomputer for Developers
Lenovo has officially announced its latest AI mini supercomputer, the ThinkStation PGX, designed to provide developers with a powerful AI workstation right out of the box. Dubbed “a compact, personal AI developer workstation” by Lenovo, the PGX is powered by Nvidia’s GB10 Grace Blackwell Superchip, boasting 128 GB of coherent unified system memory. Performance & Scalability The…
Qualcomm to develop AI data centers in Saudi Arabia, marking return to server CPU market
SAN DIEGO: Qualcomm has confirmed its reentry into the data center CPU market, partnering with Saudi Arabia’s state-backed AI cloud infrastructure project through a new collaboration with HUMAIN AI. In a press release, Qualcomm announced that it had signed a memorandum of understanding with HUMAIN AI, a Saudi venture backed by the Public Investment Fund (PIF). The agreement…
Dick’s Sporting Goods to acquire Foot Locker in $2.4 billion deal
NEW YORK: Dick’s Sporting Goods has agreed to buy smaller rival Foot Locker for $2.4 billion in a deal that sent Foot Locker shares soaring while dragging down Dick’s stock, the companies announced Thursday. Foot Locker’s stock surged 75% to $22.50 in premarket trading following the news, while Dick’s shares fell 9%. The offer of $24 per share represents…
Over 90% of consumers use their smartphones for online purchases in UK
Smartphones Take the Lead in Online Shopping The way consumers shop online is undergoing a massive shift—smartphones are now the undisputed king of e-commerce. According to ConsumerX data, mobile devices have surged ahead as the single most-used platform for online shopping over the past year. In the UK, an overwhelming 90% of consumers use their smartphones for online…
Pakistan’s oil and gas sector: increased exploration and government support
ISLAMABAD: Pakistan’s oil and gas sector is poised for growth as the government accelerates exploration efforts, improves liquidity, and addresses long-standing challenges in the energy sector, according to a report issued by AKD Securities. Recent developments, including the allocation of new exploration blocks and rationalized gas prices, are expected to revive exploration and production (E&P) activities,…
B&M European Value Retail appoints Tjeerd Jegen as CEO
LONDON: B&M European Value Retail S.A, the UK’s leading variety goods retailer, announced the appointment of Tjeerd Jegen as Chief Executive Officer. Tjeerd will take over from Mike Schmidt, currently interim Chief Executive Officer on 16th June 2025. Tjeerd brings broad international retail experience having worked in leadership roles at Ahold Delhaize, Metro, Tesco, Woolworths, HEMA and Takko Fashion…
Alibaba’s net income surged to $1.65 billion driven by AI and cloud growth
HANGZHOU: Alibaba Group Holding Ltd. (NYSE: BABA) announced strong financial results for the quarter and fiscal year ended March 31, 2025, with revenue growth fueled by its artificial intelligence and cloud businesses. The Chinese e-commerce and tech giant reported a 7% year-over-year revenue increase for the quarter, reaching $32.58 billion (RMB 236.45 billion). Net income surged 1,203%…