SINGAPORE: Leading global food and agri-business, Olam International announced that its wholly owned subsidiary, Olam Treasury Pte. Ltd. (OTPL), has secured a medium-term samurai loan facility aggregating JPY 25 billion in the Japanese market. N Muthukumar, Managing Director and Group CFO of Olam said: “We are extremely pleased to return to the Japanese loan market…
SGX reports market statistics for June 2020
SINGAPORE: Singapore Exchange (SGX) released its market statistics for June 2020. Global financial and commodity markets reflected optimism from the reopening of major economies, even as concern that new COVID-19 infections could stymie growth continued to drive demand for risk management. Total securities market turnover value on SGX rose 74% year-on-year (y-o-y) in June to…
PIA resumes its flight operations to UAE
KARACHI, PAKISTAN: Pakistan International Airlines (PIA) resumes its regular flight operations to UAE from Thursday and tickets are already up for grabs, PIA Spokesman said on Wednesday evening. Now PIA passengers will be able to travel from Pakistan to Dubai, Sharjah, Abu Dhabi and Al ain and vice versa through airline’s regular flights. He added…
Metro Bank Plc appoints Robert Sharpe as Chairman
LONDON: Metro Bank announced the appointment of Robert Sharpe as Chairman. It is anticipated that Robert will commence the role from 1 November 2020, subject to regulatory approval. He will succeed Sir Michael Snyder, who was appointed Interim Chairman in October last year while a thorough search and selection process for a permanent successor was…
Uranium specialist Yellow Cake Plc begins $10 million share buyback programme
LONDON: Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, announced the initiation of its enlarged share buyback programme to purchase up to US$10 million of the Company’s Ordinary Shares over three months, commencing on 8 July 2020. This follows the sale of…
Ørsted and TSMC sign the world’s largest renewables corporate power purchase agreement
LONDON: Ørsted A.S and Taiwan-based TSMC have signed a corporate power purchase agreement (CPPA). TSMC will offtake the full production from Ørsted’s 920MW Greater Changhua 2b & 4 offshore wind farm, making it the largest-ever contract of its kind within renewable energy. The 20-year fixed-price contract period starts once Greater Changhua 2b & 4 reaches…
TUI Group completes sale of Hapag-Lloyd Cruises to TUI Cruises
HAMBURG: The TUI Group has successfully completed the sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises. Hamburg-based TUI Cruises is a joint venture between TUI and Royal Caribbean Group. The joint venture TUI Cruises, which has developed very successfully since 2008, will thus be expanded as planned. TUI had agreed the sale in February….
Damstra Holdings offer to acquire Vault Intelligence
PERTH: Damstra Holdings Limited, an Australian-based global provider of integrated workplace management solutions, announces that it has entered into an implementation agreement to acquire Vault Intelligence Limited. The acquisition will create a larger, more diversified, workplace management company with an expanded and highly complementary product range. Among the benefits of the combination, the merged group…
Quorum Health Corporation completes financial restructuring, appoints Joey Jacobs CEO
BRENTWOOD: Quorum Health Corporation has successfully completed its financial restructuring and emerged from the Chapter 11 process in U.S. Bankruptcy Court for the District of Delaware. The Company announced the appointment of veteran health care executive Joey Jacobs as Chief Executive Officer as well as a new Board of Managers with extensive healthcare experience. The…
Mary Kay continues support of beauty, fashion, and design in events held across Asia, Europe and the U.S.
DALLAS: Mary Kay Inc. and its Mary Kay Global Design Studio, recently sponsored and participated in various beauty, fashion and design events around the world with the aim of promoting the art of individual and unique beauty—and beauty artists themselves—setting the stage for the upcoming trends for the season. Glamhive Live & Glamhive Digital Summer…
Coca-Cola HBC names Naya Kalogeraki Chief Operating Officer
ZUG, SWITZERLAND: Coca-Cola HBC AG announced that the Nomination Committee of its Board of Directors has appointed Naya Kalogeraki to serve in the newly created role of Chief Operating Officer (COO), effective September 1, 2020. She will report to Zoran Bogdanovic, Coca-Cola HBC’s CEO. In her new role, Kalogeraki will be central to driving strategy…
HGM to acquire Jade Gas, holding entity of Mongolian coal seam gas projects
PERTH: High Grade Metals Ltd (HGM) announced it has signed a binding term sheet to acquire 100% of the issued capital of Jade Gas Pty Ltd. Subject to the satisfaction of the relevant conditions, and on the assumption that High Grade Metals Ltd (HGM) conducts and completes a consolidation on 5:1 basis (i.e. that every…