Singapore-based logistics startup Qxpress acquires KorChina
Qxpress plans to expand its presence through this acquisition
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Covid-19 crisis to cost the global aviation industry $201 mn between 2020-2022
The aviation sector will only return to normal in 2023
Saudi Arabia’s Alturki Holdings oil arm acquires drilling firm Newsco
Sawafi will now control 9 patents in directional drilling
Microsoft’s financial cloud services to be available from November
Virgin Money UK will be the first user of the financial cloud service
Germany commits €100 mn investment for renewable energy in Africa
The funds will go to Sustainable Energy funds for Africa
Indonesian investment platform Ajaib raises $153 mn to expand its product development and engineering capabilities
The funding round led to Ajaib becoming the latest unicorn in the country
Deutsche Bank plans further consolidation, to close branches in Europe
The lender is planning to cut its branches in Italy and Spain
Kenyan insurtech Lami Technologies partners with Sendy to launch in transit insurance
This partnership will enable Kenyans to access simple, hassle-free, and affordable insurance products that are customised on a per-trip basis
Ripple announces $250 mn Creator Fund to support NFT projects
The new creator fund will work with Mintable and VSA
Oman’s GDP increases by 10.1% to reach OMR15.3 bn market price during Q2 2021
The petroleum sector also registered an increase of 8.7%