NEW YORK: Merck & Co. seeks to acquire Seagen in a reportedly $40 billion deal or more, the Wall Street Journal reported Thursday. While talks could fall apart, the companies are discussing a price near $200 per share and want to come to terms by Merck’s quarterly earnings call on July 28, according to the report. Seagen…
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Pakistan’s central bank raises policy interest rate by 125 basis points to 15%
KARACHI, PAKISTAN: The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) decided to raise the interest rate by 125 basis points to 15 percent. In addition, as foreshadowed in the last monetary policy statement, the interest rates on EFS and LTFF loans are now being linked to the policy rate to strengthen monetary…
Andrey Sharonov elected Chairman of PhosAgro’s Board of Directors
MOSCOW, RUSSIA: The Board of Directors of PhosAgro, one of the world’s leading vertically integrated phosphate-based fertilizer producers, elected the independent director Andrey Sharonov as its Chairman at its first meeting following the Annual General Meeting of Shareholders. Alexander Sharabaiko was elected Deputy Chairman of the Board of Directors. The meeting also approved the leadership…
Airbus and BSNL officially deliver the Tactilon Agnet 500 critical communication service in India
VIENNA: After a phase of implementation and testing, the Tactilon Agnet 500 developed by Airbus Secure Land Communications (SLC) is now being fully operational in India in collaboration with Arubaito and Bharat Sanchar Nigam Limited (BSNL). This is an important milestone that marks the official commercial start of the project. Tactilon Agnet is a state-of-the-art…
VAALCO energy set to join Russell 3000 index
HOUSTON: VAALCO Energy Inc. (NYSE: EGY) is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell Indexes Annual Reconstitution, according to a preliminary list of additions posted by FTSE Russell on June 3, 2022. Inclusion in the index will take effect after the U.S. market opens on June 27,…
REC Silicon and Ferroglobe announce MOU for solar supply chain expansion
MOSES LAKE, WASHINGTON: Hanwha Group investment and potential passage of SEMA legislation provides spark to expand U.S. production of polysilicon and metallurgical grade silicon. REC Silicon and Ferroglobe today announce a Memorandum of Understanding committing the companies to negotiate a raw material supply agreement and establish a low-carbon and fully traceable U.S.-based solar supply chain….
Elektros secures fleet from Tesla to launch all-electric vehicle rental car division
SUNNY ISLES BEACH: Elektros Inc. has started the purchase order process for several electric vehicles from Tesla Inc. to launch the company’s heavily anticipated all-electric vehicle rental car division. This purchase order will include multiple Tesla models which are expected to deliver in October of this year. With the current demand for vehicles at all-time…
Idexo launches token vesting management software
LONDON: Idexo, a simplified platform for building and growing web3 projects, announced the release of its Token Vesting Management Software. Now web3 projects founders and executive teams can provide a robust token claiming experience for their token purchasers on Day 1 of launch while saving countless hours, weeks and even months of development and management time…
Airbus consortium achieves milestone for critical cross-border communications
ELANCOURT: An Airbus-led consortium has reached a milestone by demonstrating the operability of its solution in Phase 3 of the BroadWay project to increase the interoperability of critical cross-border communications. The BroadWay project intends to concretely show how it is possible for firefighters, policemen or emergency medical units to move from their country to another…
Afreximbank and African Petroleum Producers to create a multi-billion-dollar African Energy Bank
JOHANNESBURG: The African Export-Import Bank (Afreximbank), has signed a Memorandum of Understanding (MoU) with the African Petroleum Producers Organization (APPO) for the creation of a multi-billion-dollar energy bank. Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects,…
Zoom signs deal to acquire Solvvy, elevate customer service experiences
CALIFORNIA: Zoom Video Communications (NASDAQ: ZM), on May 12th, signed a deal to acquire the conversational AI and automation platform, Solvvy to elevate customer service experiences to a global enterprise base. The transaction is expected to close in Q2 FY2023. Terms of the transaction were not disclosed. “The nature of customer experience is transforming fundamentally,…
Blackbird hires Sumit Rai as Chief Product Officer
LONDON, UK: Blackbird plc (AIM:BIRD), the technology licensor, developer and seller of the market-leading cloud native video editing platform, Blackbird, announced the appointment of Sumit Rai as Chief Product Officer. Sumit will join the Company in June 2022 from VEGAS Creative Software where he holds the same role. Sumit has over 23 years leadership experience…