OSLO: Aker Offshore Wind and Hexicon have entered into a joint development agreement to explore opportunities to realize floating wind projects offshore Sweden, a news release said. The two companies have agreed to jointly work to mature early-phase prospects in Sweden. The companies intend to establish a 50-50 joint venture with an ambition to realize…
Hexagon Agility receives orders from UPS for CNG trucks
OSLO: Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in October 2019 with UPS, the world’s largest package delivery company, to supply compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium and heavy-duty trucks as well as terminal tractors, a news release said. Hexagon Agility has received…
NORBIT shelves plans to acquire StalkIT and associated companies
TRONDHEIM: Based on the results of the due diligence, NORBIT ASA has decided to terminate the process and agreement for acquisition of business and assets from the Norwegian IoT company StalkIT and associated companies. On March 08, 2021, NORBIT announced an agreement for acquisition of business and assets from the Norwegian IoT company StalkIT and…
Subsea 7 signs floating wind joint venture with Simply Blue Energy
LUXEMBOURG: Subsea 7 S.A has entered into a joint venture with Simply Blue Energy, the Cork-based marine developer, to further develop its Salamander floating wind farm concept, off the north east coast of Scotland, a news release said. Salamander is a pre-commercial project of up to 200MW that will combine Simply Blue Energy’s experience in…
Everfuel developing second high-capacity green hydrogen station in Copenhagen
HERNING: Everfuel A/S has started development of its second high-capacity green hydrogen ing station in Copenhagen, a news release said. The new H2 station will be centrally located in the Danish capital near the H. C. Ørsted Heat and Power Station. The facility will initially be operated as a medium capacity H2 station prepared for…
Pakistan National Shipping Corporation to acquire used AFRAMAX tanker
KARACHI: Pakistan National Shipping Corporation (PNSC) has planned to acquire a used AFRAMAX tanker, with a deadweight of 10,5000 tons, to expand its customer base in the tanker segment. PNSC has already invited bids from international suppliers in this regard, and the corporation expects the delivery by the third quarter of 2021-22. Due to their…
EVO appoints Craig Presland as Chief Operating Officer NZ,Craig Presland,
SYDNEY: Evolve Education Group (EVO) announce the appointment of Craig Presland as Chief Operating Officer, New Zealand, as CEO New Zealand Tim Wong is retiring. Craig has a very strong background as CEO in previous New Zealand childcare businesses. Craig will commence on 12 April and will report directly to Managing Director Chris Scott. EVO…
AMP Capital agrees internalisation of Precinct Properties NZ
AUCKLAND: AMP Limited has agreed to end the management agreement with listed NZ REIT,Precinct Properties New Zealand Limited, allowing them to internalise management for a one-off payment of NZ$215 million for 100 per cent of the management interests. AMP Capital, via its 50 per cent interest in the management company AMP Haumi Management Limited (AHML),…
VITAL and VENTIA form strategic partnership
WELLINGTON: VITAL Limited, a telecommunications services provider, announced a special partnering relationship with Ventia, one of the largest essential services providers in New Zealand and Australia. Both Vital and Ventia provide essential communication services to the market, and in some instances, already work together for the benefit of clients and the community. This partnering will…
Ratings of CNA Financial intact after cyber attack
OLDWICK: Global rating agency, AM Best has maintained the Credit Ratings of CNA Financial Corporation (CNAF) and its insurance subsidiaries following the company’s disclosure that it sustained a sophisticated cybersecurity attack that caused a network disruption and impacted certain CNAF systems, including corporate email. Based on the information available as of today, AM Best believes…
Doha Bank closes $500 million new bond issuance with strong investor demand
DOHA: Doha Bank, rated A by Fitch and Baa1 by Moody’s, successfully completed a USD 500 million 5-year senior unsecured bond at a yield of 2.431% per annum, which is equivalent to a credit spread of 150 basis points over 5-year Mid Swap Rate. The transaction was executed under the Bank’s USD 2 billion EMTN…
BH Mubasher changes name to BHM Capital
DUBAI: BH Mubasher Financial Services, a leading company in the UAE’s financial market, held its Annual General Meeting on 24th March 2021, which adopted a resolution to change the name of the company to BHM Capital Financial Services. The AGM was chaired by Mr. Al Hurr Mohammad Al Suwaidi, Chairman of BH Mubasher’s Board of…