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…
Electronic Arts to acquire Glu Mobile in a $2.0 billion deal
REDWOOD CITY: Electronic Arts Inc. and Glu Mobile Inc. have entered into a definitive agreement under which Electronic Arts will acquire Glu Mobile. Under the terms of the agreement, EA will acquire Glu for $2.1 billion in enterprise value, a news release said. Glu stockholders will receive $12.50 in cash for each share of Glu…
Sarah Thorpe to become CEO of Cycliq Group
SYDNEY: Cycliq Group Ltd announces that by mutual agreement, the planned termination date for Paul Claessen and Ben Hammond, Co CEO’s of Cycliq Limited, has been brought forward to the close of business Monday 8 February 2021. Claessen and Hammond will stay on in a consulting role for 1 month to provide a thorough transition…
American Pacific Borates selects Matrix Service to construct Fort Cady Borate mine
TULSA: Matrix Service Inc. has been selected by American Pacific Borates Limited for the first phase of construction of its Fort Cady Borate Mine Facility in southern California. When completed, Phase One A is targeted to produce 20,000 short tons per annum (stpa) of potassium sulfate and 9,000 stpa of boric acid, with amounts increasing…
Ironwood Pharmaceuticals notifies CEO transition
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…