ISLAMABAD, PAKISTAN: Zong, Pakistan’s leading telecom and digital services company, has partnered with REDRETAIL (a REDtone Group company) to promote digital payments in Pakistan. This collaboration will allow Zong customers to top-up and recharge their balance through REDRETAIL’s network of small and medium sized enterprises including kiryana stores. The B2B partnership with REDRETAIL, a retail…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
HB International announces the biggest satellite play over Pakistan
LAHORE, PAKISTAN: HB International has signed a contract with EAST Satellite Holdings Pty Ltd for a hybrid ultra-high throughput geostationary satellite over Pakistan through ESRA, a new division. HB International is a major Pakistan-based conglomerate with prominent telecommunications interests. The newWAVE satellite by EAST will deliver 80Gpbs capacity in Ku and Ka band frequencies making…
EIG agrees to but 10% stake in Australia Pacific LNG for $1.59bn
WASHINGTON: EIG has entered into a definitive agreement to acquire a 10% interest in Australia Pacific LNG Pty Limited (APLNG) from Origin Energy Limited for an equity purchase price of $1.592 billion. “This innovative agreement represents the first ever acquisition of an interest in an operational integrated LNG project by a private equity sponsor, a…
Three US-listed tech companies explore listing in Hong Kong
Three US-listed tech companies explore listing in Hong KonBEIJING: Ride-hailing firm Didi Global and two other U.S.-listed tech companies explore listings in Hong Kong, the Wall Street Journal reported on Thursday. The Cyberspace Administration of China (CAC) broached the idea in recent conversations with executives from Didi, logistics platform Full Truck Alliance Co and online recruitment…
TPL Group’s Rider raises $2.3 million in seed funding round
KARACHI, PAKISTAN: TPL Group backed Rider, a tech-led last mile delivery partner for e-commerce retailers, has raised $2.3 million in a seed round led by venture capital (VC) firm Global Founders Capital, Fatima Gobi Ventures and Asian Development Bank. TPL E-Ventures and Transhold also participated. The Karachi-based B2B2C service was launched in 2019 by Salman…
TripleBlind Lands $24 Million in Series A Funding
KANSAS CITY: TripleBlind, the private data sharing company that offers proprietary cryptographically-enforced data privacy solution, announced today it has received $24 million in an oversubscribed Series A funding led by General Catalyst and Mayo Clinic. This round follows TripleBlind’s pre-seed raise of $8.2 million announced in March 2021. TripleBlind’s solution enables entities to share and…
Kosmos Energy acquires additional Ghana interests from OXY for $550mn
DALLAS, TEXAS: Kosmos Energy has acquired an additional 18% interest in the Jubilee field and an additional 11% interest in the TEN fields in Ghana from Occidental Petroleum (OXY) for a purchase price of $550 million with an effective date of April 1, 2021. Consideration due to Occidental Petroleum (OXY) at completion was approximately $460…
Mobilink Bank recognized as ‘Best Retail Bank in Pakistan’ by RBI
ISLAMABAD: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has won the prestigious Retail Banker International (RBI) Asia Trailblazer Award 2021 for being the ‘Best Retail Bank in Pakistan’, along with an honorable mention of “Highly Commended” for its House Loan in the Best Loan Offering category. Organized in collaboration with Arena International, UK,…
CinCor Pharma raises $143 million in Series B Financing
LONDON, UK: RTW Venture Fund Limited notes the announcement by CinCor Pharma Inc. on 12 October 2021 of its completion of a US$143 million Series B financing round. The Company, alongside other investment vehicles of RTW Investments, LP, confirms that it participated in the Series B financing round together with other investors. CinCor is a…
Airtel Africa appoints Tsega Gebreyes new non-executive director
LAGOS, NIGERIA: Airtel Africa Plc announced the appointment of Tsega Gebreyes as an Independent Non-Executive Director with immediate effect. Ms Gebreyes is the founding partner of Satya Capital Ltd., a private investment firm specialising in Africa-related investments. She served as Chief Business Development and Strategy Officer of Celtel International BV and Senior Advisor to Zain….
IBM Board approves separating Kyndryl
ARMONK, N.Y.: IBM announced that its board of directors has approved the previously announced separation of Kyndryl, the company’s managed infrastructure services business. To effect the separation the IBM board of directors declared a pro rata distribution to IBM stockholders of 80.1 percent of the outstanding shares of Kyndryl. Once distributed, each holder of IBM…
Kingmaker Footwear resumes production at Vietnam factory
HONG KONG: Kingmaker Footwear Holdings Limited has resumed production at the group’s factory in Binh Duong Province, Vietnam. Kingmaker Footwear had earlier notified temporary production halt at the factory after the report of local COVID-19 cases. The Board advised the shareholders and potential investors of the Company that, after satisfying all reopening conditions imposed by the local…