China Eastern Airlines (CEA) just announced the launch of a new direct route between Shanghai Pudong and Abu Dhabi. The service, set to commence on April 28, will make CEA the first Chinese airline to connect the two cities. The flights will be operated under a joint partnership with Etihad Airways. The new route, designated as…
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bd-capital closes second fund at €430 million, surpassing target
LONDON: bd-capital, the pan-European, operator-led investment firm, has announced the final closing of its second fund, bd-capital Fund 2 (“Fund 2”), at €430 million. The fund exceeded its target of €350 million by more than 20% after less than twelve months in the market. With the closing of Fund 2, bd-capital’s assets under management now total…
U.K. economy shrinks by 0.1% in January
LONDON: The United Kingdom’s economy unexpectedly contracted by 0.1% month-on-month in January, according to official figures released on Friday. The Office for National Statistics (ONS) attributed the decline primarily to a contraction in the production sector. Economists polled by Reuters had anticipated a 0.1% growth in the country’s GDP for January. The U.K. economy had previously…
Piraeus Bank to acquire majority stake in Ethniki Insurance
ATHENS: Piraeus Financial Holdings S.A. announced that its subsidiary, Piraeus Bank S.A., has entered into a Share Purchase Agreement (SPA) to acquire a 90.01% stake in the parent company of Ethniki Insurance from CVC Capital Partners Fund VII. The deal, valued at €600 million in cash, aims to diversify Piraeus’ revenue sources and enhance value for shareholders….
Ripple secures license to offer regulated crypto payments in UAE
DUBAI: Ripple, a leading provider of enterprise blockchain and crypto solutions, has obtained regulatory approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC). This makes Ripple the first blockchain-enabled payments provider to be licensed by the DFSA. The approval marks Ripple’s inaugural license in…
Bitcoin drops over 5% amid market volatility following Trump’s bitcoin reserve plan
Cryptocurrency prices tumbled Monday as market volatility persisted in the wake of an executive order by President Donald Trump to establish a U.S. strategic bitcoin reserve. The announcement, which fell short of investor expectations, triggered a sell-off across major digital assets. Bitcoin, the world’s largest cryptocurrency, fell more than 5%, trading at $81,712 as of…
Aghast Solutions secures $4.8 million funding for Asian expansion
Aghast Solutions, a pioneering tech startup, has successfully closed a $4.8 million funding round backed by private and institutional investors. This investment will fuel the company’s expansion into the Asian market, with new offices in Singapore, Thailand, and Hong Kong. Shifting its focus from vendor-based services, Aghast Solutions will now develop proprietary brands in the…
Seven & i Holdings appoints Stephen Dacus as first foreign CEO
Seven & i Holdings, the parent company of 7-Eleven, announced on Thursday that it will replace CEO Ryuichi Isaka with Stephen Dacus, the lead independent outside director. Dacus will become the first foreigner to hold the top executive position at the company, according to domestic media reports. Dacus will assume his new role on May…
Jabil Inc. expands presence in India with new factory in Gujarat
GANDHINAGAR: Jabil Inc. (NYSE: JBL), a global leader in engineering, supply chain, and manufacturing solutions, announced today the opening of a new factory in Gujarat, marking its second facility in India. The expansion is part of a Memorandum of Understanding (MoU) signed in November 2024, aimed at exploring long-term goals, opportunities, and support with the state….
Inszone Insurance Services announces merger with JKJ Benefits, LLC
WEATHERFORD: Inszone Insurance Services, a rapidly expanding national provider of commercial, personal, and benefits insurance, has announced a merger with JKJ Benefits, LLC, a respected employee benefits agency based in Weatherford, Texas. This strategic move enhances Inszone’s employee benefits division and strengthens its presence in Texas, enabling the company to offer more comprehensive insurance solutions to…
Adventure Box Technology to acquire a portfolio of iGaming assets, Project Quantum
STOCKHOLM: Adventure Box Technology AB (STO: ADVBOX) announced a non-binding Letter of Intent (LOI) to acquire a portfolio of iGaming assets, including a leading marketing and affiliate company, Project Quantum. The acquisition marks Adventure Box’s entrance into the marketing and affiliate vertical, driving high-quality traffic to its casino brands while complementing its existing B2B offerings. The acquisition…
BYD targets $5.2 billion through Hong Kong share sale amid expansion
HONG KONG: Chinese electric vehicle manufacturer BYD has launched a Hong Kong share sale to raise up to $5.2 billion, according to a term sheet reviewed by Reuters on Monday. The accelerated book-building process has set a price range of HK$333-HK$345 per share, reflecting an up to 8.4% discount from BYD’s closing price of HK$363.60….