International tourism nearly reached pre-pandemic levels between July and September 2024, hitting 99% of 2019 figures, according to a recent World Bank report. An estimated 447 million international tourists traveled globally during this period, marking a 7% increase from the same period in 2023. Despite this growth, the pace slowed compared to earlier quarters of…
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Eurobank and LTIMindtree launch global delivery center in India
ATHENS: Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., has announced a multi-year partnership with global technology consulting and digital solutions company LTIMindtree. The collaboration aims to enhance customer experience by improving banking operations and developing innovative IT services for Eurobank and its subsidiaries. Facilitated by Fairfax Digital Services, the partnership includes…
Travelers Europe appoints Mike Lawton as Chief Operating Officer
LONDON: Travelers Europe announced today that Mike Lawton has been appointed Chief Operating Officer. Lawton will report to Matthew Wilson, Chief Executive Officer of Travelers Europe, and will oversee the day-to-day business operations and the implementation of the company’s strategy. “Mike has been an invaluable member of our leadership team for many years,” said Wilson….
CTP launches €57 million project for Hitachi Energy in the Czech Republic
BRNO: CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has embarked on an ambitious project for its long-time partner, Hitachi Energy, at CTPark Brno. The first phase of this project involves a €57 million investment in constructing a 50,000 square meter state-of-the-art high-voltage products factory,…
Sidetrade and Interpath announce alliance to drive digital transformation
Sidetrade, a leading global provider of AI-powered Order-to-Cash applications, has formed an alliance with international advisory firm Interpath to accelerate digital transformation efforts and help businesses harness AI capabilities more effectively. Interpath, known for its advisory and restructuring services, operates in the UK, France, Ireland, Germany, Austria, Bermuda, Cayman Islands, BVI, and Algeria. The alliance…
CyberArk acquires Zilla Security for $165 million
CyberArk (NASDAQ: CYBR), the global leader in identity security, announced today it has acquired Zilla Security for an enterprise value of $165 million in cash, with an additional $10 million earn-out contingent on milestone achievements. Zilla Security is renowned for its innovative, AI-powered Identity Governance and Administration (IGA) solutions. Zilla’s advanced IGA capabilities will enhance CyberArk’s…
RF Investment Partners acquires S&K Building Services
INDIANAPOLIS: RF Investment Partners, a prominent growth capital investor, announced Thursday the acquisition of S&K Building Services, a company specializing in window washing, pressure washing, and metal/glass restoration services for multi-story commercial properties. This acquisition enhances RF’s portfolio in the essential services sector, which is a key focus for the firm. S&K, headquartered in Indianapolis,…
Commerzbank to cut 3,900 jobs in Germany by 2028 amid strategic overhaul
FRANKFURT: Commerzbank, Germany’s second-largest lender, announced Thursday it will eliminate 3,900 full-time positions by 2028, primarily in Germany. This move is part of a broader strategic overhaul aimed at maintaining its global headcount at 36,700, despite planned staffing increases in selected international locations. In its strategic update, Commerzbank projected it would incur around 700 million…
Oso Semiconductor secures $5.2 million in seed funding for next-gen chipsets
Oso Semiconductor, a developer of power-efficient, high-performance, low-cost chipsets for next-generation wireless communication and sensing applications, announced Wednesday it has raised an oversubscribed $5.2 million seed round. The funding round was led by Engine Ventures, with participation from Entrada Ventures, Berkeley SkyDeck, and J-Ventures. The capital will be used to build pre-production beamforming chipsets and…
EU embarks on a €200 billion InvestAI initiative to boost ai development
The European Union on Tuesday announced a sweeping €200 billion ($206 billion) initiative, dubbed InvestAI, aimed at accelerating investment in artificial intelligence (AI) and positioning Europe as a global leader in the development of advanced AI technologies. The initiative includes a new €20 billion European fund to support the creation of AI “gigafactories,” specialized facilities equipped…
IMF and Arab countries strengthen partnership amid global shifts
In an era of significant economic, technological, and geopolitical shifts, the partnership between the International Monetary Fund (IMF) and Arab countries remains essential. This collaboration is more critical than ever, as the world and the region face transformative changes. Global and Regional Economic Outlook Globally, economic growth is projected to maintain a rate of 3.3…
Zeta secures $50 million investment, valued at $2 billion
Zeta, a global next-generation banking technology provider, announced today that it has secured a $50 million investment from a strategic investor, valuing the company at $2 billion. Previously, Zeta was valued at $1.15 billion following a $250 million investment from Softbank Vision Fund 2 and other marquee investors in 2021. “We are incredibly excited at…