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Julius Baer acquires Brazil’s Reliance Group
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Julius Baer acquires Brazil’s Reliance Group

Julius Baer said it has perfected the acquisition of 95% of the São Paulo-based Reliance Group (Reliance) took place on 4 June 2018 as planned. Reliance is one of the largest independent wealth managers in Brazil, with client assets of approximately BRL 18 billion (approximately CHF 5 billion), mainly in […]

Visa to invest $100 million in Europe’s Fintech
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Visa to invest $100 million in Europe’s Fintech

Card payment giant, Visa has announced two new programs designed to support European FinTechs who are developing the next generation of digital payment solutions. From July, Visa said finTech start-ups based in Europe can onboard to Visa’s global network in as little as four weeks. The new FinTech fast-track program […]

Piggybank raises $1.1 million, eyes full-scale banking
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Piggybank raises $1.1 million, eyes full-scale banking

A major breakthrough has been recorded in Nigeria’s tech scene as Piggybank, a micro-savings platform has raised $1.1 million in funding. Piggybank is a wholly-Nigerian venture which started operations in 2016. The latest raising was sourced from LeadPath Nigeria, with Village Capital and Ventures Platform contributing $50,000 each. In an […]

PETRONAS to join LNG Canada project
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PETRONAS to join LNG Canada project

Shell Canada Energy, PetroChina Kitimat LNG Partnership, Diamond LNG Canada Ltd. and Kogas Canada LNG Ltd. today announced that Petroliam Nasional Berhad PETRONAS will take an equity position in LNG Canada. The project is located in Kitimat, British Columbia on the west coast of Canada, through its wholly owned entity […]

Daimler invests $175 million in Taxify
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Daimler invests $175 million in Taxify

Ride-hailing startup, Taxify, said it has closed has completed an investment round of $175 million from Diamler. In a statement issued by Marilin Noorem, spokesperson for the company said: The company will use the investment to further develop its ride-hailing technology and continue working on best ways to move in […]

Losses of Jumia rose to N12.5 billion in Q1
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Losses of Jumia rose to N12.5 billion in Q1

Nigeria’s largest eCommerce company by business value and coverage, Jumia said its losses further widened in the first quarter of 2018. For the first quarter of the year, Jumia’s negative adjusted earnings before interest, tax, depreciation and ammortisation (gross losses) rose to EUR30.7 million which is approximately N12.5 billion on […]