LONDON: Cairn Energy announced that Nicoletta Giadrossi will be appointed Chair of the Company with effect from 1 January 2021. She will succeed Ian Tyler who, after seven years on the Cairn Board including six as Chairman, announced in May this year that he would retire from the Board on appointment of a successor. Nicoletta…
Genesis Energy conducts strategic review of Kupe field
WELLINGTON: Genesis Energy announced that it is undertaking a strategic review in relation to its interest in Kupe oil and gas field. Genesis owns a 46% stake in the Kupe oil and gas field. The asset has attractive cash flow and a strong growth outlook. The Kupe joint venture is now considering further development, including…
Air New Zealand awarded second phase of international cargo flights
AUCKLAND: Air New Zealand has been awarded four months of additional cargo flights under the Government’s International Air Freight Capacity (IAFC) scheme. This comes after the Government announced Phase-Two of the IAFC scheme, which runs from 1 December 2020 through to 31 March 2021. Under the scheme, the Government provides financial assistance to all airlines…
MOL commences two new agrochemicals plants
SINGAPORE: Meghmani Organics Limited (MOL) has commenced Commercial production of the following two plants on 25th November, 2020: (1) Herbicide 2, 4D Acid Plant at GIDC, Dahej – District Bharuch The Cost of setting up the Herbicide 2, 4 D Acid with an annual capacity of 10,800 MTs is Rs. 127 Crore. MOL expects to…
Crayon strengthens position in Asia Pacific with $100 million public-sector win
OSLO: Crayon Group Holding ASA has announced an estimated $100 million agreement over two years with the Philippine government. This public-sector win was part of a public tender and furthers Crayon’s growth strategy in the Asia Pacific region. Under the two-year agreement, Crayon will handle all the Philippine government’s Microsoft needs including on-premises and cloud…
Huddlestock Fintech begins trading on Merkur Market
OSLO: Huddlestock Fintech has been admitted to trading on Merkur Market (ticker code: HUDL-ME). Huddlestock Fintech offers two main products: a digital solution for custody banks and a trading connectivity solution for service providers. “The markets for digitalization of the wealth management industry is growing rapidly. Our connectivity solution has the potential to disrupt the…
Per Gunnar Tronsli becomes new Bouvet CEO
OSLO: Bouvet ASA has announced appointment of Per Gunnar Tronsli as the new CEO of the company. Tronsli will take office on 1 January 2021. “Bouvet is built on values where a sharing culture and a strong community are cornerstones,” says chair Pål Egil Rønn. “Sverre Hurum has led the company from the start to…
Europris opens new store at Løren in Oslo
FREDRIKSTAD: Europris opened a new store today in Oslo’s Løren district. This brings the group’s extensive network of stores to 266. Today’s opening is the fourth in 2020, and the second in the company’s City concept. The group has a robust pipeline of new stores for 2021 and beyond, including both ordinary Europris stores and…
Merger of Bharti Infratel and Indus Towers completed
LONDON: Vodafone Group Plc announced that the merger of Indus Towers Limited and Bharti Infratel Limited has now completed. The Combined Company is listed on the National Stock Exchange of India and the Bombay Stock Exchange and it will in due course be renamed Indus Towers Limited. Vodafone has been issued with 757.8 million shares…
Magnis Energy collaborates with universities to research in new energy technologies
SYDNEY: Magnis Energy Technologies Limited announce that a quad party MoU has been executed by Binghamton University, The University of Newcastle, Charge CCCV and Magnis, for the purpose of collaboration in new energy technologies and the conduct of applied projects in industrial sectors and settings. Magnis has also signed a standing Research Deed with The…
LXi REIT buys 11 foodstores, 2 discount stores for £61 million
LONDON: The Board of LXi REIT plc, the specialist inflation-protected very long income REIT, reported the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of £61 million. The Acquisitions have been acquired at an attractive average net initial yield of 5.7% (net of acquisition costs) and with…
Atlas Mara announces strategic transaction with KCB Group Plc
LONDON: Atlas Mara Limited, the sub-Saharan African financial services group, has entered into definitive agreements with KCB Group Plc for the sale of the Group’s banking assets in Rwanda and Tanzania, a news release said. The Transaction is subject to regulatory approvals and other customary conditions precedent, including approvals and consents from the relevant central…