Dubai, United Arab Emirates (UAE)-based firm Abraaj Group picked up a stake in Casablanca, Morocco-based chocolate manufacturer Kool Food for an undisclosed amount to back the latter's international distribution plans.
Sectors
Nike cuts off majority of wearable tech team
Orlando, US-based sports footwear, apparel, and accessories maker Nike is about to cut off 70 out of the 200 members of its Digital Sport unit in a bold move to stop manufacturing hardware and focus its wearable tech efforts on software.
Simply Diamonds acquires New York jewelry maker MA Reich
New York, US-based precision cut diamond and customized jewelry retailer Simply Diamonds acquired Buffalo, New York-based color stone and men's fine jewelry maker MA Reich & Co for an undisclosed amount .
Doha Bank agrees to acquire HSBC Bank Oman
Doha Bank, a Qatar based lender, has entered into a definite acquisition agreement with HSBC Holdings Plc's HSBC Bank Oman to purchase its lending arm in India pending regulatory approvals in India, Jersey, Qatar and Oman.
Japan pulls out investments in China, directs focus to South East Asian countries
The territorial dispute between China and Japan has caused the latter to pull out its investments from the country and redirecting its focus to other South East Asian countries where it has already funded companies with USD22.8 billion last year.
Latest News
Mumbai, India-based real estate startup Grabhouse makes realty deals easier by helping young Indians find an apartment or flat for rent that is compatible with their needs without going through a broker.
Today, home-rental Airbnb has received a rare funding that reached a hefty USD500 million from a funding round from investors led by TPG, Dragoneer Investment Group and T. Rowe Price along with other mutual funds.
Preact announced releasing a new software platform that makes uses of "leading-edge behavioral science, machine learning, and big data analytics" along with receiving a Series A funding round valued USD4.6 million led by Trinity Ventures.
Santa Clara, US-based semiconductor chip maker Intel Corp shelled out $100 million to establish an innovation center in China to accelerate the innovation of smart equipment in the Asian country.
Mountain View, US-based business-oriented social networking service LinkedIn already reached the 300-million mark in registered users worldwide, with half of that number coming from countries outside of its home country.
Kansas, US-based wire rope manufacturer WireCo WorldGroup Inc acquired the assets of Gouda, Netherlands-based construction and transport materials supplier Endenburg BV for an undisclosed amount to beef up its delivery system.
Cloud storage giant Dropbox spent an undisclosed amount to add San Francisco, US-based photo and video cloud storage and smart collaborative tool Hackpad to expand its product offering and improve its auto-upload features.
While news have already spread about Google's plan to bring the Internet to more people using high-altitude balloons in its "Project Loon" initiative, the search giant has finally started testing the solar-powered balloons over Nevada.
Beverly Hills, US-based live entertainment and e-commerce firm Live Nation Entertainment picked up a minority stake in Live Nation Japan for an undisclosed amount to become the latter's full owner.
