International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank (IsDB) Group, launched the 49th IsDB Group Annual Meeting at the Intercontinental Hotel in Riyadh. The event witnessed a surge in collaborative efforts among member countries, aiming to drive economic growth and development in key sectors. The meetings brought together high-level representatives from…
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ProAmpac to unveil cutting-edge sustainable packaging at Petfood Forum 2024
ProAmpac, a global pioneer in flexible packaging and material science, is set to present its innovative sustainable packaging solutions at the Petfood Forum 2024, taking place from April 29 to May 1. The company’s latest advancements are poised to redefine sustainable packaging with a range of groundbreaking products. The highlight of ProAmpac’s showcase is the…
MedMen Enterprises declares bankruptcy, faces liquidation
MedMen Enterprises Inc., a prominent cannabis company with operations throughout the United States, has declared bankruptcy under Canada’s Bankruptcy and Insolvency Act. The announcement, made on April 24, 2024, marks a downturn for the company, which has appointed B. Riley Farber Inc. as its bankruptcy trustee. The financial turmoil within the company has led to…
Fulton Bank has completed acquisition of Republic Bank in Philadelphia
LANCASTER: Fulton Financial Corporation (NASDAQ: FULT) announced that its bank subsidiary, Fulton Bank N.A. has acquired substantially all of the assets and assumed substantially all of the deposits of Republic First Bank, doing business as Republic Bank, from the Federal Deposit Insurance Corporation (FDIC). The deal includes purchased assets of approximately $6 billion, including an…
AI Unleashed: Navigating the New Frontier in Corporate IT
In an era where technology evolves at breakneck speed, the role of the Chief Information Officer (CIO) has never been more pivotal. The latest insights from Lenovo’s third annual global CIO report, titled “Inside the Tornado: How AI is Reshaping Corporate IT Today,” shed light on a significant shift in focus for these IT leaders….
Astek secures euro 560 million financing, partners with ICG to accelerate growth
Astek, a titan in the realm of technology consulting, has declared a significant bolstering of its financial prowess. This strategic enhancement is aimed at propelling the company’s ambitious growth trajectory and its proactive strategy of judicious acquisitions. In a display of confidence and commitment, ICG, a stalwart investor known for its long-term strategic partnerships, has…
MYTILINEOS eyes international expansion with potential London Stock Exchange listing
MYTILINEOS Energy & Metals, the Greek industrial powerhouse, has announced a strategic review of its options, including a potential listing on the London Stock Exchange. This decision comes as the company celebrates a period of remarkable growth, with revenues and profitability quadrupling in the past five years. The company, which has been a staple of…
AstraZeneca reports 19% increase in Q1 2024 revenue to $12.67 billion
LONDON: AstraZeneca has kicked off the year with a remarkable 19% increase in Total Revenue, reaching $12.679 billion in the first quarter of 2024. The pharmaceutical giant attributes this surge to an 18% rise in Product Sales and sustained growth in Alliance Revenue from its partnered medicines. The company’s financial health is further evidenced by…
Happiest Minds Technologies agrees to acquire PureSoftware for $94.5 million
LONDON: Happiest Minds Technologies Limited (NSE: HAPPSTMNDS) signed definitive agreements to acquire 100% of the equity share capital of PureSoftware Technologies Private Limited for a total purchase consideration of US$ 94.5 Million. PureSoftware with a global presence and headquarters in Noida is a fast-growing Digital Engineering & Transformation Services and solutions provider with deep domain…
Finsight Group has acquired T-REX cloud-native platform
Finsight Group Inc., a financial technology company announced the acquisition of T-REX, a cloud-native platform engineered to accurately model and manage the most complex investments across private credit, structured credit, and project finance. Along with the acquisition, FINSIGHT is excited to welcome Benjamin Cohen, T-REX Founder and CEO, Arad Shaiber, CTO, as well as key…
Augment Inc. raises $227 million at $977 million valuation
AI coding assistance startup Augment Inc. announced its $227 million Series B round at a $977 million post-money valuation with investments from Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital. This brings Augment’s total funding to $252 million, following its $25 million Series A led by Sutter Hill Ventures. The latest…
Invictus Energy signs agreement to power Zimbabwe’s Eureka Mine
JOHANNESBURG: Invictus Energy Limited has partnered with Dallaglio Investments and Himoinsa Southern Africa to launch a gas-to-power project at Zimbabwe’s Eureka Gold Mine. The African Energy Chamber endorses the initiative, which aims to enhance energy efficiency and reliability in the mining sector. The project will utilize natural gas from the Cabora Bassa Project to replace…