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…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
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…
Online automotive retailer Vroom files registration statement for proposed IPO
NEW YORK: Vroom Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of its common stock. Application has been made for listing the common stock on the Nasdaq Global Market under the ticker symbol “VRM.” The number of shares…
Fusionex International to implement data-driven digital platform for oil and gas giant
SINGAPORE: Fusionex has clinched a contract with one of the region’s largest oil and gas companies to implement a data-driven digital platform to enhance customer experience. The client is a global energy company, ranked amongst the largest corporations on Fortune Global 500 with over 1,000 gas stations. Known for their oil and gas ventures, their…
Total, PureCycle agree to develop strategic partnership in plastic recycling
PARIS: Total has signed an agreement with PureCycle Technologies to develop a strategic partnership in plastic recycling. As part of the agreement, Total undertakes to purchase part of the output of PureCycle Technologies’ future facility in the United States and to assess the interest of developing a new plant together in Europe. PureCycle Technologies uses…
Huawei opposes amendments made by the US Department of Commerce to its foreign direct product rule
NEW YORK: “Huawei categorically opposes the amendments made by the US Department of Commerce to its foreign direct product rule that target Huawei specifically”. This statement was issued officially by Huawei today. The statement further highlighted that the US government added Huawei to the Entity List on May 16, 2019 without justification. Since that time,…
Total discontinues the acquisition of Occidental Petroleum’s assets in Ghana
PARIS: In August 2019, Total and Occidental Petroleum entered into a Purchase and Sale Agreement (PSA) in order for Total to acquire Anadarko’s assets in Africa. Under this agreement, Total and Occidental have since completed the sale and purchase of the Mozambique and South Africa assets. The PSA provided that the sale of the Ghana…