SINGAPORE: PropNex Limited’s wholly-owned subsidiary, PropNex Grandeur Homes has entered into a share sale and purchase agreement with, amongst others,TB6 Pte. Ltd. and Rapzo Capital Pte. Ltd. to acquire70% of the issued and paid-up capital of Ovvy Pte. Ltd. The consideration payable by PropNex will be S$1.0 million, of which 35% will be paid to…
Trendlines to seek dual listing and shares offering on TelAviv Stock Exchange
MISGAV, ISRAEL: The Trendlines Group Ltd. has planned to seek a dual primary listing of its ordinary shares on the Tel-Aviv Stock Exchange (TASE) in Israel, a news release suggests. The Trendlines Group considers that the Proposed TASE Listing will be beneficial for the Company, and in the interests of the shareholders of the Company,…
Aspen Group Holdings’ subsidiary gets a 10-year income tax exemption
SINGAPORE: Finance Minister of Malaysia has approved an application of Aspen Glove Sdn. Bhd. (AGSB) submitted through the initiative of the Northern Corridor Implementation Authority (NCIA), for an income tax exemption for its business activity of designing, developing, and manufacturing of examination and surgical nitrile gloves via a grant of an incentive known as the…
Magnit PJSC opens ten more My Price discounters in March
KRASNODAR: Magnit PJSC opened ten My Price discounters in March. As a result, their total number increased to 33 stores as of the beginning of April, a news release said. In early March, the Company opened discounters in Omsk and Yaroslavskaya village (Krasnodar Region). Eight more stores were opened in the last two weeks of…
Bahrain Bourse commences first edition of capital markets apprenticeship program
MANAMA: Bahrain Bourse has commenced the first edition of the Capital Markets Apprenticeship Program on Thursday, 1st April 2021 with the participation of 8 interns out of more than 470 applicants for the program. The Capital Markets Apprenticeship Program is an on-the-job training program that targets Bahraini graduates who are willing to gain practical knowledge…
Lifecare AS well protected as Digital Diagnostics AG files for bankruptcy
BERGEN: Digital Diagnostics AG’s (Digid) management has filed for bankruptcy at the district court of Mainz. The filing was delivered without any prior information to or discussion with the Digid Supervisory board, a news release said. The joint venture agreement regarding Digid provides protection of Lifecare’s interests, including Lifecare IP rights, in the event of…
Pakistan Oil Sales up 16% in 9MFY21
OCAC released the sales volumes for OMCs for 9MFY21. During the period, collective sales were recorded at 14.2mn MT up by (+16%/YoY) on the back of increasing transportation activities, pickup in auto sales, and FO demand hatching from power sector. Furnace Oil soared by (44%/YoY) clocking in at 2.3mn MT, while, High Speed Diesel (HSD)…
Abdulla Al Nuaimi appointed CEO of Dubai National Insurance and Reinsurance
DUBAI: Dubai National Insurance and Reinsurance (DNIRC) has appointed Abdulla Al Nuaimi as Chief Executive Officer (CEO) of the company effective from April 11, 2021. Dubai National Insurance & Reinsurance P.S.C (DNIR) is a Dubai based insurance company since 1991 with a branch in Abu Dhabi focusing on Motor, Medical, Travel, Home and various other…
Pakistan Headline inflation averages at 8.3% YoY during 9MFY21
CPI inflation recorded at 9.05% YoY in Mar’21 For the month of Mar’21, headline inflation as measured by CPI clocked-in at 9.05% YoY, taking the 9MFY21 average inflation to 8.34% YoY compared to 11.55% in 9MFY20. On a yearly basis, the jump in index came mainly due to: i) 11.6% YoY increase in food prices…
Alstom announces acquisition of Flertex
PARIS: Alstom has acquired Flertex, a group specialised in the design and manufacture of brake linings (pads and shoes) for braking systems, particularly for the rail industry but also for other industrial applications, a news release said. This acquisition expands and strengthens Alstom’s expertise in braking systems, a key element in the overall technical performance…
Cloud Nine Web3 commences trading on Frankfurt Stock Exchange
VANCOUVER: Cloud Nine Web3 Technologies announced that its common shares have commenced trading on the Frankfurt Stock Exchange under the ticker symbol “1JI0”. The Company has been assigned an International Securities Identification Number (ISIN: CA18913C1014) and a German Securities Identification Number (WKN: A2QQ2V). “We are pleased to be able to provide and grow Cloud Nine’s…
Franklin Wireless investigating battery issues
SAN DIEGO: Franklin Wireless Corp., a market leader in broadband data communications, has been notified of reports of battery issues in some of its wireless hotspot devices. The company is working with its battery and device manufacturing partners and carrier customer to determine the cause and extent of the problem. Franklin Wireless Corp. (FKWL) is…