Carbon capture and storage (CCS) or carbon capture and sequestration is the process of capturing emitted carbon dioxide (CO. 2), transporting it to a storage site, and depositing it where it will not enter the atmosphere, according to Wikipedia. Carbon capture, utilisation and storage, or CCUS, is an important emissions reduction technology that can be…
What is Memorandum of Understanding (MoU)
A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract, Investopedia suggests. The MOU can be seen as the starting point for negotiations as it defines the scope and purpose…
What is Initial Public Offering (IPO)?
The Initial public offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process by which a private company can go public by sale of its stocks to general public. It could be a new, young company or an old company which decides to…
S&P Global Ratings Reaffirms Halyk Bank’s rating; outlook stable
LONDON, UK: S&P Global Ratings has affirmed its ‘BB/B’ long- and short-term issuer credit ratings and its ‘kzA+’ Kazakhstan scale rating on Halyk Savings Bank of Kazakhstan. The outlook is stable. S&P Global Ratings has noted that the Bank has reduced its stock of problem assets substantially over the past several years, and believes that…
Total SE to change company’s name to TotalEnergies
PARIS, FRANCE: Shareholders have approved the resolution to change the company’s name from Total SE to TotalEnergies, thereby anchoring its strategic transformation into a broad energy company in its identity. In tandem with this name change, TotalEnergies is adopting a new visual identity. “Energy is life. We all need it and it’s a source of…
Croatia Air force to buy 12 used Rafale aircraft
SAINT-CLOUD, FRANCE: Croatia has selected the Rafale for its Air Force, following an international call for tenders as part of its Multi Role Fighter Aircraft (MRFA) program, a news release said. The contract between the French and Croatian authorities will cover the acquisition of 12 Rafale previously in service with the French Air Force, as…
Posten Norge stops sale of Bring Frigo AB to Germany based Aurelius
OSLO, NORWAY: Posten Norge AS has terminated the agreement with Aurelius. Bring Frigo AB will continue as a standalone subsidiary of Posten Norge AS, and Posten Norge AS will continue the realisation of the plans for the company’s future development. On 29 March 2021, Posten Norge AS announced that the company Bring Frigo AB in…
Civitas Social Housing acquires 10 supported living properties for £8.6 million
LONDON, UK: Civitas Social Housing, the UK’s leading care-based housing and healthcare REIT, has completed the acquisition of 10 supported living properties across Hertfordshire, Essex, Suffolk and Wales for a total consideration of £8.6 million, a news release said. The portfolio provides adapted homes along with personalised specialist care for 41 individuals with complex mental…
13,000 smart LED streetlight implementation across Muscat in Oman
LEUVEN, BELGIUM: More than 13,000 smart LED lights will be implemented in the city of Muscat that are controlled by multiple IoT based smart controllers. 370 Option CloudGate IoT gateways are being used to acquire real-time energy consumption of these LED lamps and any alarms. Once implemented, the installation base of more than 20,000 smart…
Maxima Grupė’s grocery chain Stokrotka buys 9 stores in Poland
WARSAW, POLAND: Polish retail grocery chain Stokrotka has signed an agreement to take over 9 grocery stores that are operating in Poland in the region close to Warsaw. The transaction is planned to be completed until the end of 2021, subject to certain conditions to be fulfilled according to the agreement, including unconditional antitrust approval….
Enedo Plc CEO Vesa Leino to leave the company
HELSINKI, FINLAND: CEO of Enedo Plc, Vesa Leino, has decided to leave the company, a news release said. He will continue in his current position and leading the Executive Management Team until the new CEO has been nominated. “During the last three and a half years we have gone through major business restructuring renewing the…
Harvia Plc acquires Kirami Oy for EUR 7 million
MUURAME, FINLAND: Harvia Plc has acquired Kirami Oy, a leading Finnish still water hot tub manufacturer and pioneer in wood-heated hot tubs globally, a news release said. The purchase price is EUR 7 million at closing and on top of this, a delayed purchase price of EUR 0–4 million after a three years’ period based…