BOSTON: Boston-based fintech startup Airfox is joining Via Varejo, the largest retailer in Brazil serving 60 million customers through popular nationwide retail chains Casas Bahia and PontoFrio. Publicly held Via Varejo is acquiring Airfox for an undisclosed amount. Airfox will continue to serve as a fintech innovation hub out of its current Boston-based headquarters, leveraging…
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3M settles two lawsuits in Florida
ST. PAUL: 3M Company has settled two lawsuits connected with the company’s global efforts to combat fraud, price gouging and counterfeiting. 3M Company and King Law Center, Chartered have resolved the legal action 3M initiated in federal district court in Orlando, Florida. The litigation has been amicably resolved through a mutually beneficial agreement, and the…
Murphy Oil Corporation announces changes in executive management
EL DORADO: Murphy Oil Corporation announced that Walter K. Compton, Executive Vice President and General Counsel, will retire from the company effective June 1, 2020. The current Vice President, Law and Corporate Secretary, E. Ted Botner, will be assuming Mr. Compton’s responsibilities in addition to maintaining his current duties under the new title Senior Vice…
Edgile recognized as security system integrator of the year by Microsoft
AUSTIN: Edgile, a trusted cyber risk and regulatory compliance partner to the Fortune 500, has been named as a Microsoft Security 20/20 Partner Award winner for Microsoft Security System Integrator of the Year. “The Edgile team is committed to collaborating with Microsoft to design and implement security systems that make modern enterprises across all industries…
Outlets at Tejon starts reopening and is ready to welcome guests
TEJON RANCH: The Outlets at Tejon announced that following two months of closure due to the COVID-19 pandemic and stay at home order set by Governor Newsom, it will be open to the public once again on May 27, 2020. This is a phased reopening as some individual stores may open sooner than others. Guests…
Amanat Holdings appoints Dr. Mohamad Hamade as CEO
DUBAI: Amanat Holdings PJSC, the GCC’s largest healthcare and education investment company, announced the appointment of Dr. Mohamad Hamade as Chief Executive Officer (“CEO”) of the company. Dr. Hamade, previously the Chief Investment Officer (“CIO”) of Amanat Holdings, succeeds Mr. Tristan de Boysson who held the position as the CEO of Amanat since February 2019…
Samsung Galaxy S20+ is top 5G smartphone model in US in Q1 2020
BOSTON: According to the latest research from Strategy Analytics, Samsung Galaxy S20+ 5G was the bestselling 5G smartphone model in the United States in the first quarter of 2020, capturing an impressive marketshare of 40 percent. Ken Hyers, Director at Strategy Analytics, said, “US 5G smartphone shipments reached a total of 3.4 million units in…
Shell Pakistan’s quarter results impacted during pandemic
ISLAMABAD: The Board of Directors of Shell Pakistan Limited (‘SPL’) announced the first quarter results for the company on 20th May. The company posted an after tax loss of PKR 4,332 million compared to the profit of PKR 257 million made in the same period last year. The quarter has been greatly affected by the…
Lenovo delivers robust revenue and all-time record pre-tax income for FY19/20
HONG KONG: Lenovo Group announced robust results for its full fiscal year and Q4, demonstrating the company’s position of strength amid unprecedented global transformation. Despite a fiscal year full of macro-economic and industry challenges, the company delivered full-year revenue exceeding US$50 billion (US$50.7 billion) for the second consecutive year. Profitability remained a strength, with historical…
Xpeng Motors receives production license for Zhaoqing Factory
GUANGZHOU: Xpeng Motors, a leading electric vehicle and technology company, has received the official production license from China’s Ministry of Industry and Information Technology for its new own-built, wholly-owned factory, the Zhaoqing Xpeng Motors Intelligent Industrial Park in Guangdong Province. The approval will accelerate the production of the super-long range sports sedan Xpeng P7, the…
Huawei hosts 17th annual Global Analyst Summit
SHENZHEN: Huawei held its 17th annual Global Analyst Summit in Shenzhen, both onsite and online. At the event, Huawei was joined by over 2,000 analysts, key opinion leaders, and media representatives from a range of industries, including telecoms, the Internet, and finance. Together, they discussed how the industry can work together to weather the difficult…
GE Renewable Energy to supply technology for Dasu Hydropower Plant
ISLAMABAD: GE Renewable Energy, in consortium with Powerchina Zhongnan Engineering Corporation Limited, announced today that it has been selected by Pakistan Water and Power Development Authority (WAPDA) to supply six Francis turbines and generators for Stage 1 of the new Dasu hydropower plant in Pakistan. The 2.2 GW Dasu hydropower project is one of the…