SYDNEY, AUSTRALIA: Paul Arnold has resigned as Chief Executive and Managing Director of Energy Resources of Australia Ltd (ERA). He will be taking a period of leave for personal reasons, following which he will return to Rio Tinto to assume a new role. Recruitment for a replacement will commence immediately. In the meantime the ERA…
Hexagon Agility receives orders for RNG/CNG trucks
OSLO, NORWAY: Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in June 2020 with a global logistics customer to deliver renewable natural gas (RNG) and compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks. Hexagon Agility received its tenth set of orders under this agreement, representing an estimated value…
Big River to pay $10.5mn for United Building Products
SYDNEY, AUSTRALIA: Big River Industries Ltd has entered into an agreement to acquire the trading business and assets of United Building Products located in the growth region of Wollongong in the NSW Illawarra. The acquisition is subject to customary conditions precedent, which the Company expects willbe met in the ordinary course, and is expected to…
Infratil & Auckland Radiology to form diagnostic imaging business
AUCKLAND, NEW ZEALAND: Infratil Limited and Pacific Radiology Group have executed a conditional agreement to partner with Auckland Radiology Group, creating a national diagnostic imaging business. Auckland Radiology is the largest private radiology provider in Auckland, operating 15 strategically located clinics in the greater Auckland area, and employing 32 radiologists. Infratil will own at least…
Carrie Hurihanganui appointed CEO of Auckland Airport
AUCKLAND: The Auckland Airport Board has appointed Carrie Hurihanganui as the company’s new Chief Executive. Auckland Airport Chair Patrick Strange said: “I am delighted to announce the appointment of Carrie Hurihanganui as Chief Executive. She is a highly regarded leader in aviation who joins Auckland Airport following one of the most challenging times in its…
New Zealand Oil & Gas completes Amadeus Basin acquisition
AUCKLAND: New Zealand Oil & Gas has announced is that the Amadeus Basin acquisition completed Monday. The New Zealand Oil & Gas Group announced on 25 May 2021 that it had agreed to acquire interests in three gas producing projects held by ASX-listed Central Petroleum located in the Amadeus Basin of Australia’s Northern Territory. On…
Geo Limited plans capital raising to spur growth
AUCKLAND, NEW ZEALAND: Geo Limited is raising NZ$6 million from the issue of ordinary shares priced at NZ$0.130 per share by way of a placement. Geo Limited also intends to conduct a subsequent capital raise in the coming months to enable its broader shareholder base to participate at the same price. The proceeds of the…
Gulf International Bank partners with MFME 2021
MANAMA, BAHRAIN: Mentorship Forum Middle East (MFME) 2021 announced Gulf International Bank (GIB) as a partner for its second annual forum taking place as a hybrid event (on-site and virtual) in the Kingdom of Bahrain on 11 November 2021 at the Gulf Hotel. As a forum partner, Gulf International Bank (GIB) supports regional initiatives that…
ADQ to buy 50% stake in IHC’s Eltizam Asset Management for 111.6mn
ABU DHABI, UAE: Abu Dhabi-based International Holding Company (IHC) has entered into a strategic partnership with ADQ, one of the region’s largest holding companies, for a 50% stake in IHC subsidiary, Eltizam Asset Management Group, for a total cash contribution of AED 111.6 million (through a new shares issuance). Founded in 2009, Eltizam is among…
Al Salam Bank plans to acquire group of assets from Ithmaar Holding
MANAMA, BAHRAIN: Al Salam Bank-Bahrain has signed a memorandum of understanding and entered into discussions with Ithmaar Holding to acquire a group of assets from Ithmaar Holding’s group of companies, a bourse filing said on Sunday. Al Salam Bank is keen to maintain its growth trajectory and these discussions with Ithmaar Holding on a potential…
Benefits and Drawbacks of Virtual Private Server Hosting
Server virtualization has been trending for some years now and it is a fact that it brings several advantages to all who want resource savings and more efficient IT administration. Besides, it is also a green technology. The concept of server virtualization includes taking a physical server and partitioning or separating the server by using…
UK’s CDC backs Fatima Gobi Ventures’ Pakistan-focused fund
KARACHI: CDC Group (CDC), the UK’s development finance institution and impact investor, has made an anchor investment in Techxila Fund I, a fund managed by local venture capital (VC) firm Fatima Gobi Ventures (FGV). CDC’s commitment will help to boost Techxila Fund I’s investments in Pakistan-focused early stage startups, helping to drive transformational impact and…