DUBAI: dnata, one of the world’s largest air and travel services providers, has enhanced its global leadership team, announcing key senior management appointments. The new set-up will help the company decisively adapt to changing global trends, drive synergies and efficiencies across its operations, and continue to deliver excellent services and value to customers. John Bevan…
Bank Alfalah joins the race for Silkbank’s consumer portfolio
KARACHI: Bank Alfalah Limited (BAFL) has approached Silkbank Limited seeking its concurrence to BAFL to apply to State Bank of Pakistan to proceed with the due diligence for the consumer portfolio of Silkbank Limited. Silkbank Limited has already accorded in-principle approval to Habib Bank Limited (HBL) to conduct due diligence for the same. Fauji Foundation…
Victory Square Technologies to invest in renewable energy company, Stardust Solar
VANCOUVER: Victory Square Technologies Inc. (VST) has signed a binding letter of intent (LOI) to invest in the renewable energy company Stardust Solar, a leading renewable energy company operating in the United States and Canada. Founded in 2017, Stardust Solar is a leader in renewable energy education in Canada, providing CSA/NABCEP approved design and installation…
Orascom adds $650 million to its backlog in Q1 2021
DUBAI: Orascom Construction PLC announces that it has added USD 650 million of new awards to its backlog in Q1 2021. These new awards mark an increase of 8% y-o-y over the level in Q1 2020. Projects in Egypt comprised 85% of new awards during Q1 2021 as the Group added contracts across the healthcare,…
Archer Limited signs offer letter to acquire DeepWell AS
HAMILTON: Archer Limited has signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in Deepwell AS. The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and regulatory approvals. DeepWell is a leading Norwegian well intervention company focused on mechanical wireline and cased…
Total declares force majeure on Mozambique LNG Project
PARIS: Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total, as operator of Mozambique LNG project, to declare force majeure. Total expresses its solidarity with the government and people…
Goldplat plc completes sale of Kilimapesa to Mayflower Gold Investments
LONDON: Goldplat plc announced that all conditions precedent in respect of the sale of Kilimapesa to Mayflower Gold Investments Limited have been either met or waived and that the sale of Kilimapesa is now complete. The completion of the Transaction will enable Goldplat to focus on its recovery operations and Mayflower Gold’s parent company Mayflower…
Arena Events acquires 50% stake in Aztec Shaffer
LONDON: Arena Events Group and the co-bidders have completed the acquisition of Aztec Shaffer. Arena now holds a 50% equity stake in Aztec Shaffer and now has management control of the business. Aztec Shaffer comprises two businesses, Aztec Events & Tents and Shaffer Sports & Events. Aztec is a very similar business to Arena Stuart,…
Blackbird wins 18 more US TV Stations with TownNews
LONDON: Blackbird plc, the developer and seller of the market-leading cloud native video editing platform, announced today that Blackbird is being used by 18 more US TV Stations for digital news production following TownNews’ latest deployment. 69 US TV stations now use Blackbird remotely and safely to rapidly access, edit and publish news content fast…
Superdry Plc appoints Peter Sjölander as Chairman
LONDON: Superdry Plc announced the appointment of Peter Sjölander as Chairman, effective 29th April 2021. Peter has had a hugely successful executive career across public company, private equity and founder-led environments. From 2007 to 2015 Peter was CEO of Helly Hansen where he delivered a step change in the performance of the brand, driving its…
Eesti Energia and Ørsted to develop large-scale offshore wind in the Baltics
LONDON: On 22 April 2021, Eesti Energia, a leading utility and the largest wind energy company in the Baltics, signed a memorandum of understanding (MoU) with Ørsted, the global leader in offshore wind. The MoU outlines a vision for developing large-scale offshore wind in the Baltic countries, and to jointly move towards delivering the first…
Nel ASA to develop and deliver complex renewable hydrogen projects with Aibel
OSLO: Nel ASA has entered into a framework agreement with the major energy service company Aibel to develop and deliver large scale, complex renewable hydrogen projects. “We are very excited to be announcing this collaboration with Aibel, a company with vast experience in delivering large scale, complex projects across industries. Their in-house construction expertise and…