BOSTON: Ironwood Pharmaceuticals Inc. announced that Mark Mallon plans to step down as chief executive officer and a member of the Ironwood Board of Directors in order to pursue another leadership opportunity, effective March 12, 2021. The Ironwood Board has named Thomas McCourt, Ironwood’s president, as interim CEO effective upon Mr. Mallon’s departure. Julie McHugh,…
Northwest Indiana Bancorp proposes corporate name change to Finward Bancorp
MUNSTER: (GLOBE NEWSWIRE) NorthWest Indiana Bancorp (NWIN) is seeking shareholder approval to change its name to Finward Bancorp at a Special Meeting of Shareholders to be held on March 3, 2021. The name change reflects the growth and evolution of the Bancorp in recent years, which has prompted the Bancorp to re-evaluate the name and…
Ideal Power announces pricing of $20 million public offering of common stock
AUSTIN: Ideal Power Inc. announced the pricing of an underwritten public offering of 1,176,500 shares of its common stock at a public offering price of $17 per share, before underwriting discounts and commissions, for an aggregate offering of approximately $20 million. In addition, the Company has granted the underwriter a 30-day option to purchase up…
Qatar Petroleum to develop world’s largest LNG project
DOHA: Qatar Petroleum is developing the North Field East Project (NFE), the world’s largest LNG project, which will raise Qatar’s LNG production capacity from 77 million tons per annum (MMTPA) to 110 MMTPA, a news release said. In addition to LNG, the project will produce condensate, LPG, ethane, sulfur and helium. It is expected to…
SSGC initiates tracing of attachable assets to realize debts and receivables
KARACHI: Sui Southern Gas Company (SSGC) has initiated an exercise for tracing of attachable assets for realization of the debt and outstanding amounts by attachment and auction proceedings. SSGC, through a third party, would trace attachable assets and title documents for filing and instituting of recovery suits, execution proceedings against defaulters and judgment debtors for…
Global Tech Industries Group signs letter of intent to acquire Gold Transactions International
NEW YORK: Global Tech Industries Group (GTII) has executed a Letter of Intent to acquire Gold Transactions International (GTI), a Utah corporation. The expected closing date of the final, binding acquisition agreement, defining the terms of the acquisition of GTI by GTII, including an assessment its assets and operations going forward, is anticipated to be…
Cellcom Israel files law suit against Xfone
NETANYA: Cellcom Israel Ltd. has filed a law suit against Xfone and its controlling shareholder for the enforcement of the network sharing agreement and payment of unpaid monthly payments in the amount of approximately NIS 34 million, with the Tel-Aviv District Court. Cellcom further filed for an interim injunction to prevent Xfone from entering any…
ZeUPay completes CDN $8.125 million acquisition of Prego International Group
MONTRÉAL: ZeU Technologies Inc. has executed the definitive agreement to acquire all of the issued and outstanding shares of Prego International Group AS, through ZeUPay Corp., a wholly-owned subsidiary of ZeU Technologies for a total consideration of CDN $8.125 million. Prego brings a highly complementary product portfolio and customer base to ZeU’s business. With sales…
DarkPulse to open manufacturing and engineering facility in Arizona, U.S.
NEW YORK: DarkPulse Inc., a technology company, has signed a commercial lease for an ISO9001; AS9100 certified electronics and electro-mechanical assembly facility for engineering and manufacturing of its hardware and software in Tempe Arizona. “An integral part of the company’s business plan is the manufacturing of its BOTDA hardware,” said Dennis O’Leary, Chairman and CEO…
Retail Business Services signs CEO Action for Diversity & Inclusion commitment
QUINCY: Retail Business Services, the services company of Ahold Delhaize USA, announced that company President Roger Wheeler has joined the CEO Action for Diversity & Inclusion. In signing the commitment, Wheeler joins the growing coalition of over 1,500 CEOs pledging to cultivate workplace environments where diverse experiences and perspectives are welcomed and where associates feel…
Peapod Digital Labs President signs public commitment to diversity & inclusion
CHICAGO: Peapod Digital Labs, the digital and e-commerce engine of the brands of Ahold Delhaize USA, announced JJ Fleeman, President, Peapod Digital Labs, has joined the CEO Action for Diversity & Inclusion, the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. In signing this commitment, Fleeman joins the growing coalition of…
Property and casualty insurers report 27.5% drop in net income during first nine months of 2020
JERSEY CITY: The private U.S. property and casualty (P&C) insurance industry’s net income after taxes dropped 27.5 percent to $35.1 billion in the first nine months of 2020 and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier. In the first nine months of 2020, the private U.S. property and casualty…