TROY: Viper Networks Inc. is upgrading their Apollo Smart Lights products with 5G technology while maintaining 4G capabilities. Viper Networks is currently seeking to expand their manufacturing capabilities for both the Apollo Smart Light products and the emerging line of new Solar Products in the Greater Detroit area, which will remain in proximity to the…
OKEA appoints Svein J. Liknes as new CEO
TRONDHEIM: The Board of Directors of OKEA has appointed Svein J. Liknes as new CEO of OKEA, a news release said. The founder and current CEO of OKEA, Erik Haugane (68), has been in discussion with the Board about his succession for some time as Erik will retire from the CEO position in OKEA later…
ArcelorMittal sells 40 million common shares in Cleveland-Cliffs for $651.6 million
LUXEMBOURG: ArcelorMittal North America Holdings LLC, a wholly-owned subsidiary of ArcelorMittal S.A., announced an agreement to sell 40 million Cleveland-Cliffs common shares through a fully underwritten public market offering. The transaction is a part of a combined primary and secondary public offering of Cleveland-Cliffs’ shares. This divestment crystalizes additional proceeds from the transaction with Cleveland-Cliffs…
Alimak Group appoints Thomas Hendel as CFO
STOCKHOLM: Alimak Group has appointed Thomas Hendel as CFO, effective as of May 17, 2021. Thomas Hendel will join Alimak Group from the role as Deputy Chief Financial Officer of Saab Group, a position he has held since 2016. He has 30 years of experience from different financial and general management roles within Saab and…
Total proposes a final 2020 dividend of 0.66 €/share
PARIS: Total SE Board of Directors met on February 8, 2021, and decided to propose to the Shareholders’ Meeting, which will be held on May 28, 2021, the distribution of a final dividend of 0.66 €/share for fiscal year 2020, stable compared to the three interim dividends paid for fiscal year 2020. Given the three…
Macarthur Minerals signs MOU with Southern Ports Authority
LONDON: Macarthur Minerals has signed a Memorandum of Understanding (MOU) with Southern Ports Authority which provides a pathway for agreeing a potential access and operating solution for the export of Macarthur’s high grade magnetite iron ore product via the Port of Esperance. Highlights: The Port of Esperance is an established deep water port located south…
RDI REIT sells West Orchards Shopping Center for £4.85 million
LONDON, UK: RDI REIT, the income focused UK Real Estate Investment Trust (UK-REIT), has exchanged contracts for the sale of West Orchards, Coventry for £4.85 million, a news release said. The sale is expected to have a nominal impact on the Company’s net asset value of approximately £1.9 million, reflecting the contribution of West Orchards…
Joules acquires The Garden Trading Company for up to £12.5 million
LONDON: Joules Group, the premium British lifestyle brand, has acquired The Garden Trading Company Limited, a digitally led retailer of home and garden products inspired by the British countryside and lifestyle trends, a news release said. Garden Trading designs its own range of distinctive home, garden and outdoor products that it sells through its own…
MSCI Quarterly Index Review Feb’21
Pakistan’s equity market has recorded an increase of 13.5% or 5,569pts (USD based return of 12.9%) since the last MSCI semi annual review back in Nov’20. At present, Pakistan has a weight of 0.021% in MSCI EM. Within the MSCI Pak index, MCB is the largest constituent (42.8%) followed by HBL (31.3%) and OGDC (25.9%)….
Florence Lambert appointed CEO of Genvia clean hydrogen production technology venture
PARIS: Schlumberger New Energy, the CEA and partners have announced Florence Lambert as the CEO of the Genvia clean hydrogen production technology venture, effective March 1, 2021. Florence brings more than 20 years of experience in new energy technologies and was previously CEO of CEA-LITEN in Grenoble, France. “Florence has been a respected voice at…
Xstate closes acquisition of oil and gas producing assets
SYDNEY: Xstate Resources Limited has closed on the acquisition of a 10% Working interest (WI) in oil and gas producing assets (Alberta Plains Assets) in southern Alberta, Canada. Plans for the acquisition were previously reported on 28 January 2021. The assets consist of oil and gas fields and associated production equipment, located between Edmonton and…
Emirates Integrated Telecommunications posts net income of AED 1.44 billion
DUBAI, UAE: Emirates Integrated Telecommunications Company PJSC (EITC) published its financial results for the year ended 31 December 2020 reporting in 2020 a total Revenue of AED 11.08 billion and a Net Income of AED 1.44 billion. EITC’s Capital Expenditure increased by 24.1% year-over-year to AED 1.87 billion, representing a capital intensity of 16.9%, its…