LONDON: GE has announced the appointment of Masroor Mahmud as its CEO for Pakistan. He is mandated with driving the company’s growth in the country and aligning business strategy across all GE sectors with the government’s vision for development. In addition, Masroor will focus on enhancing talent development, ensuring risk management, and building a strong…
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Covid lockdown dampens business optimism in Pakistan: D&B Reports
KARACHI: The findings of the Dun & Bradstreet’s Business Optimism Index (BOI) for the first quarter of 2020 released on Monday shows that enforcement of the Covid-19 lockdown in the third week of March had only intensified the deterioration in the business sentiments and sped up the shift from optimism to pessimism. Before the implementation…
Bahrain Telecom repays its $650 million bond due on 1st May 2020 and $450 million term loan
MANAMA, BAHRAIN: Bahrain Telecommunication Company (Batelco) has repaid in full US$ 473 million of the outstanding senior unsecured bond issued by a subsidiary company and due on 1st May 2020. The US$ 650 million bond was issued in 2013, with US$ 177 million subsequently repurchased and redeemed. The US$ 473 million repayment was mainly funded…
Nabil Habayeb named Senior VP of GE and President & CEO of Global Growth Organization
DUBAI: Nabil Habayeb, GE’s President and CEO for the Middle East, North Africa and Turkey, has been named Senior Vice President, GE, and President & CEO, Global Growth Organization (GGO) effective June 1, 2020. Habayeb succeeds Rachel Duan, Senior Vice President, GE, and President & CEO, GGO, who has decided to leave GE and embark…
Microsoft shares guidelines on cybersecurity and data protection during COVID19 lockdowns
NEW YORK: To keep devices safe from cyber attacks during COVID19 lockdowns, Microsoft has shared some useful guidelines on cybersecurity and data protection. “Our world has changed dramatically over the last couple of months and in an effort to keep the wheels turning, companies across the world are switching to remote work and Microsoft is…
PIA chooses Amadeus as its long-term distribution partner to drive future growth
KARACHI: Pakistan International Airlines (PIA) has reached a landmark agreement in distribution with Amadeus, the leading travel technology company, giving PIA full access to Amadeus’ global travel seller network. Through this new agreement, Amadeus-connected agencies will now be able to book PIA’s full suite of domestic and international inventory through the Amadeus Travel Platform. “We’ve…
Nazim Efendiev appointed CEO of Metalloinvest
MOSCOW: Metalloinvest Finance, a leading global iron ore and HBI producer and supplier and one of the regional producers of high-quality steel, has announced the appointment of Nazim Efendiev as CEO of Management Company Metalloinvest. He will combine the new role with the duties of First Deputy CEO, Sales Director. Ivan Streshinsky, Chairman of the…
Alfa Financial announces new contract win with an auto finance solutions provider
SYDNEY: Alfa Financial Software Holdings, a leading developer of mission-critical software for the asset finance industry, announced a new contract win with a leading provider of auto finance solutions. Company expects this new contract to rank in the middle tier, by monetary value, relative to other Alfa implementations. The agreement, which is with an existing…
Trichome Financial Platform launches Trichome Special Opportunities and Trichome Advisory Partners
TORONTO: Trichome Financial Corp. has announced the launch of Trichome Special Opportunities (TSO), a private equity unit focused on providing strategic capital to companies operating across the cannabis value chain that are experiencing financial and/or operational difficulties. Howard Steinberg, a director of the Company with over 25 years of restructuring, private equity and private credit…
Primo Nutraceuticals signs definitive agreement with Beauty Kitchen
VANCOUVER: Primo Nutraceuticals has signed a definitive agreement with Heather Marianna LLC (Beauty Kitchen). The signing of the definitive agreement gives Primo 25% ownership in Marianna Naturals Corp. Beauty Kitchen is a company that manufactures fresh handmade beauty care, personal care and cosmetic products. It was born from the hugely popular Beauty Kitchen YouTube Series,…
IGEA to partner with Acalis for Alz1 wholesale distribution in the US
HOOFDDORP, Netherlands: IGEA Pharma N.V. announced a further extension of the partnership with Acalis by signing an agreement for the wholesale distribution of the Alzheimer’s prevention kit ‘Alz1’ in the US. IGEA and Acalis started to partner on a commercial basis beginning 2020 for exclusive distribution in Middle East and some European and South American…
Dean Foods completes sale of its assets, rights, interests and properties to Dairy Farmers of America
DALLAS: Dean Foods Company has completed the previously announced sales of its assets, rights, interests and properties relating to 44 of the company’s fluid and frozen facilities to subsidiaries of Dairy Farmers of America (DFA). Dean Foods also announced that it has completed the sale of the assets, rights, interests and properties relating to eight…