India’s leading backpacker hostel chain the Hosteller raised USD 4 million in its Series A funding round led by V3 Ventures, along with participation from existing investors including LV Angel Fund, FAO Ventures, Synergy Capital Partners, Unit-e Consulting, Ice. VC (backed by Mrunal Jhaveri), Thrive Ventures, Chirag Jain, and several real estate-based family offices. The funds will be strategically used to expand
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Danish transport giant Maersk on Aug. 21 opened the doors to its largest Logistics Park at Jeddah Islamic Port in Saudi Arabia. The $250million, 225,000 sq m logistics facility provides a list of services under one roof, including: multi-modal connectivity between ocean, land and air transport; warehousing solutions catering for B2B and e-commerce requirements; temperature-controlled warehousing; custom-bonded setup; distribution solutions including first-
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China’s largest oil and gas company PetroChina Co. posted record operating profits for the the six months through June thanks to strong drilling output and higher oil prices, which allowed it to offset weak fuel demand domestically. Global benchmark Brent averaged more than $83 a barrel in the first half, compared with about $80 over the same period in 2023. In the
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Leading European landlord CPI Property Group (CPIG) has published unaudited financial results for the three months ending 30 June 2024. Total assets have reached €21.2 billion and CPIPG’s property portfolio is equal to 18.6 billion (versus €19.5 billion at year-end 2023) reflecting disposals, a modest decline in valuations (-0.8%) and FX movements, partially offset by CapEx investments. “CPIPG’s consistent growth in rental
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Cosmetics giant Estee Lauder Companies Inc is nearing a deal to buy US luxury fashion brand Tom Ford for about $2.8 billion, including debt, the Financial Times reported on Friday (Nov. 11), citing people familiar with the matter. Tom Ford, founded by the former longtime creative director for Italy’s Gucci, entered into exclusive negotiations with Estée Lauder this week and a deal could be announced
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DeA Capital Real Estate SGR, part of the DeA Capital Platform – the top Italian independent provider of alternative asset management solutions by AUM with Combined Assets Under Management of roughly €26.7 billion in the Real Estate, Credit, Private Equity and Multi Asset/ Multi Manager Solutions sectors – has launched its first pan-European fund reserved for institutional investors: DeA Capital Real Estate
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Billionaire entrepreneur and Tesla’s CEO, Elon Musk is again proposing to buy Twitter for $54.20 a share, according to a new security filing made public on Tuesday (Oct. 4) by the US Securities and Exchange Commission (SEC). “On October 3, 2022, the Reporting Person’s advisors sent a letter to Twitter (on the Reporting Person’s behalf) notifying Twitter that the Reporting Person intends to proceed to
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The first neobank with Lithuanian capital SME Bank has partnered with the Baltic country’s next-generation payment infrastructure provider kevin to create a “one-stop-shop” for e-commerce business owners. The combined offering is a unified payment infrastructure enabling account-to-account (A2A) payments across the Baltics, as well as revenue-based financing based on e-retailers’ expenses and profit, simplifying life for SME owners. The payment collection options
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Porsche CEO Oliver Blume told Frankfurter Allgemeine Zeitung (FAZ) on Friday (June 24)the German automotive company is still planning to go ahead with its initial public offering (IPO) despite the challenging economic conditions and uncertainties over the conflict in Ukraine. “In the past, we were robust and financially strong in every crisis,” Blume was quoted as saying. In February, Porsche and its
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Streaming platform Netflix Inc. fired 300 of its employees on Thursday (June 23) according to a report published by Variety. Last month the company laid off 150 employees and dozens of contractors and part-time workers. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are
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