LUXEMBOURG: Subsea 7 S.A. announced the award of a sizeable contract by Aker BP for the Hod Field Development Project, located 12 km from the Valhall area in the southern part of the North Sea. Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million. The re-development concept includes…
Kitron wins new business
OSLO: Kitron ASA has been awarded new business for measurement technology. The award covers a period of five years, and the expected annual value is between EUR 3.5-5 million. Serial production is expected to start in the first quarter of 2021 and will take place at Kitron’s plant in Poland. “I am very pleased to…
Diana Shipping signs supplemental agreement with BNP Paribas for a 2.5 year extension
ATHENS: Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that on June 29, 2020, it signed, through two wholly-owned subsidiaries owning the m/v G. P. Zafirakis and m/v P. S. Palios, a supplemental agreement to the existing secured loan agreement with BNP Paribas, to extend by 2.5…
Europe’s air security agency suspends PIA’s TCO authorization for six months
KARACHI: European Union Air Safety Agency (EASA) has suspended PIA’s authorization to operate in Europe for six months starting July 01, 2020, following revelations that 40 percent pilots have fake licenses. “EASA has received information according to which on Wednesday 24 June 2020, the Aviation Minister, Ghulam Sarwar Khan, informed the Pakistani Parliament of the…
U.S. insurers’ private equity holdings continue to climb
NEW YORK: U.S. insurance companies for a fourth-straight year increased their private equity holdings by nearly 10% in 2019 to $81.3 billion as this asset class remains attractive to insurers looking to diversify their investment portfolios or increase returns in the low interest rate environment, according to a new AM Best special report. The Best’s…
Stock market volatility puts focus on equity price risking Japan’s non-life insurance market
HONG KONG: High common stock leverage among each of Japan’s major non-life insurers brings systematic equity price risk into greater consideration, given the current COVID-19-driven stock market volatility, according to an AM Best special report. The Best’s Special Report, “Japan Non-Life: Robust Capitalisation to Weather Stock Market Volatility,” states that stock market volatility continues to…
Raley’s makes bold move with opening of first Raley’s O-N-E Market
WEST SACRAMENTO: Raley’s has made the next bold move in their continued evolution with the opening of the company’s first-ever Raley’s O-N-E Market in the Northern California town of Truckee. The 35,000 square foot location blends the grocer’s 85-year commitment to exceptional service with a focus on transparency and education to create a unique shopping…
Entertainment AI releases CreatorSuite, changes corporate name to SEEEN Plc
LONDON: Entertainment AI plc, a global social media and technology platform, announced both the release of its CreatorSuite product and its name change from Entertainment AI to SEEEN plc with ticker symbol SEEN to better reflect its technology brand and initiation of commercial product releases. “We have chosen the name SEEEN because our technology and…
Renalytix AI enters partnership with University of Michigan; data sharing agreement with global pharmaceutical company
LONDON: Renalytix AI plc, an artificial intelligence-enabled in vitro diagnostics company, announced a partnership with the University of Michigan to extend the application of the KidneyIntelX platform to an expanded population of patients with established Chronic Kidney Disease (CKD) or at risk of developing CKD. RenalytixAI also announces a data sharing agreement with a top…
Dukemount Capital appoints Matthew Thompson as Chief Executive Officer
LONDON: Dukemount Capital, the property management and long dated income provider, announced that it has appointed Matthew Thompson MBA BA (Hons.) as Chief Executive Officer. Matthew is qualified in commercial and corporate law and has 17 years of private equity, family office, legal, energy and real estate experience gained in executive and leadership positions. He…
Immunodiagnostic Systems launches automated assay to detect SARS-CoV-2 antibodies
LONDON: Immunodiagnostic Systems Holdings plc (IDS), a specialty solution provider to the clinical laboratory diagnostic market, announced fully automated SARS-CoV-2 IgG antibody test will be available for sale. The test can now be purchased by customers in the UK, the EU, and a number of other countries which accept the CE mark as the basis…
Balfour Beatty JV wins HK$5.67bn contract
LONDON: Balfour Beatty, the international infrastructure group, announces that its 50:50 joint venture, Gammon Construction, has been awarded a HK$5.67 billion (c. £577 million) Central Kowloon Route contract to deliver buildings, mechanical and electrical works on behalf of the Highways Department of the Government of the Hong Kong Special Administrative Region. Works include the delivery…