§ Earnings of the KSE-100 Index depicted a robust trend for another quarter, rising 93% YoY / 12% QoQ during 3QFY21. Compared to 3QFY19 and 3QFY18, earnings of the index have accelerated 61% and 48%, respectively. § Moreover, earnings during 9MFY21 have augmented 55% YoY. Compared to 9MFY19 and 9MFY18, earnings of the index have…
Dassault Aviation announces Egypt acquires 30 additional Rafale fighters
SAINT-CLOUD: The Arab Republic of Egypt has decided to purchase an additional 30 Rafales to equip its air force. This new order complements the first acquisition of 24 Rafales signed on February 2015 and will bring the number of Rafales flying under Egyptian colors to 54, making the Egyptian Air Force the second in the…
Britvic plc acquires plant-based drinks brand, Plenish
LONDON: Britvic plc (LON: BVIC) announced the acquisition of Plenish, which offers a range of organic, clean label, plant-based beverages across plant-based milks, cold-pressed juices and functional shots. Founded in 2012 as a direct-to-consumer brand, it has since expanded into retail distribution. Using best-in-class ingredients sourced from sustainable, organic farms and no additives, the Plenish…
Skanska to establish food and logistics center in Långeberga, Sweden
HELSINGBORG: Skanska has signed a 20-year lease agreement with Greenfood for a 44,000 square meter new food and logistics center in Långeberga, Helsingborg, Sweden, a news release said. Greenfood is one of northern Europe’s leading actors in healthy food. Construction start for the new facility is expected to take place in the second quarter of…
Concentric AB to develop a new electric oil pump for advanced start/stop capability
STOCKHOLM: Concentric AB has partnered with a global Tier 1 manufacturer of fully automatic transmissions for medium and heavy-duty commercial vehicles to develop a new fully electric oil pump for use within their “start/stop” technology. Production will start in 2022 and sales revenues from this new contract are estimated to be worth SEK 45 million…
Elliptic Labs collaborates with Cirrus Logic
OSLO: Elliptic Labs is collaborating with Cirrus Logic Inc. to certify and optimize Elliptic Labs’ AI Virtual Smart Sensor Platform on Cirrus Logic’s latest smart boosted amplifiers for smartphone, PC/laptop, and IoT customers. Elliptic Labs’ Virtual Smart Sensors bring innovative user experiences like proximity and presence detection, as well as 3D touchless gesture sensing to…
Zaptec signs term sheet to purchase NovaVolt AG
STAVANGER: Zaptec Charger AS has today signed a letter of intent to purchase 100% of the shares in the Swiss company, NovaVolt AG. Zaptec Charger AS is 100% owned by Zaptec AS. NovaVolt is the exclusive distributor of Zaptec’s charging systems in Switzerland and has 7 employees, with its offices located in Zurich. Customers of…
Ashley Gilbert appointed MD of 88 Energy Limited
LONDON: 88 Energy Limited has confirmed the appointment of Ashley Gilbert to the Board of the Company and as Managing Director of 88 Energy with effect from 10 May 2021, following the resignation of David Wall. In addition, Mr Gilbert has stepped down from the role of Company Secretary and Ms Sarah Smith has been…
Trinity Exploration acquires PS-4 Block onshore Trinidad
LONDON: Trinity Exploration & Production plc has executed a Sale and Purchase Agreement (SPA) with Moonsie Oil Company Limited to acquire an operated 100% interest in the PS-4 Block Lease Operatorship Sub-Licence, onshore Trinidad for a total headline cash consideration of US$3.5 million. Overview of the PS-4 Block The PS-4 Block covers c.4 km2 located…
CIP Merchant Capital invests in Vertu Motors
LONDON: CIP Merchant Capital announced its investment in Vertu Motors plc, the new and used car dealership operating in the UK. The Company has acquired, in aggregate, 1,549,924 ordinary shares of 10p each in Vertu, representing approximately 0.42 percent of Vertu’s issued share capital, for a total consideration of approximately £625,553. For its financial year…
Live Company to invest £1.0 million for 16.3% stake in Start Art Global
LONDON: Live Company Group has subscribed for a non-controlling stake in Start Art Global Ltd, an online art and digital art sales and news platform, to be funded out of a proposed placing, a news release said. Live Company has agreed, subject to the passing of the Resolutions at the forthcoming General Meeting, to subscribe…
SDX Energy commences campaign to drill five wells in Morocco
LONDON: SDX Energy Plc announced the commencement of the first, three well, phase of its 2021 drilling campaign in Morocco, which will comprise up to five wells over the year. Mark Reid, CEO of SDX, commented: “I am pleased to announce that the Company has commenced its 2021 drilling activities of up to eleven wells…