SYDNEY: The Board of eCargo Holdings Limited (ECG) announced the appointment of Mr. Lawrence Lun as Chief Executive Officer, effective from September28, 2020. Lawrence was appointed following a global search, with the objective of appointing a CEO with the requisite skills and background in the China eCommerce and distribution space to further advance the Group’s…
Rio Tinto announces Executive Committee changes
MELBOURNE: Rio Tinto has announced that by mutual agreement, J-S Jacques will step down from his role as an executive director and Chief Executive of the Group. A process to identify his successor is underway. J-S will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier. This…
XTM signs LOI with largest online cannabis retailer to launch payment network
TORONTO: XTM Inc., a Toronto-based Fintech company, has signed a Letter of Intent (“LOI”) with one of the largest online cannabis retailers in the U.S. to launch a proprietary cashless payment network. This will be the first of its kind, bank grade, fully compliant, community currency, closed loop solution for any company or business looking…
Equinor selling 50% of Empire Wind and Beacon Wind to BP for $1.1bn
OSLO: Equinor ASA has entered into an agreement with BP to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of USD 1.1 billion, a news release said. Through this transaction, the two companies are also establishing a strategic partnership for…
Cloudberry Clean Energy makes offshore wind power transaction in Sweden
OSLO, NORWAY: Cloudberry Clean Energy AS has received 100% acceptance for its offer to the shareholders in Scanvind2 AS, the holding company of the offshore wind project “Rewind Vänern”. The transaction marks a new step towards Cloudberry’s ambition of becoming a substantial developer of offshore wind in the Nordics. The 16-turbine/100 MW project is located…
Kongsberg Maritime to design and equip an innovative new krill vessel for Rimfrost
OSLO: Kongsberg Maritime has been contracted to design and equip a highly innovative vessel for the Norwegian krill processing firm Rimfrost. It is expected that the vessel will be ready to begin operations in 2022. The contract has been awarded in several stages during 2020, with the final stage signed in September 2020. The total…
Aqua Bio Technology buys all rights to Moana Skincare
OSLO: Aqua Bio Technology (ABT) has acquired all rights to Moana Skincare and integrates backwards in the value chain. ABT will pay up to NOK 26.7 million for the rights to Moana Skincare with three initial payments (NZD 500,000, NZD 250,000 and NZD 215 000) of approximately NOK 5.8 million (NZD 965,000) and a turnover-based…
Pakistan aims to have 20 percent of electricity generation capacity as renewable energy
ISLAMABAD: Government has issued Alternate and Renewable Energy (ARE) Policy 2020 setting requisite processes in place so that ARE is fully mainstreamed and integrated within the energy planning as the country intends to have at least 20 percent of its generation capacity as ARE technologies by 2025 and 30 percent by 2030. “In order to…
Esri and UN launch global storytelling competition
REDLANDS: Esri, the global leader in location intelligence, and the United Nations (UN) Sustainable Development Solutions Network (SDSN) have launched the 2020 ArcGIS StoryMaps Competition for the Sustainable Development Goals. The SDSN is a leading nongovernmental organization (NGO) working to mobilize global scientific and technological expertise for sustainable development. According to the organization’s president, economist…
Hawk Ridge Systems acquires Quest Integration
MOUNTAIN VIEW: Hawk Ridge Systems has acquired Quest Integration, a leading DS SOLIDWORKS Reseller in the West, a news release said. The combined company will be the largest provider of HP and Markforged 3D printing solutions and one of the most comprehensive North American DS SOLIDWORKS Reseller networks, with 22 offices serving 23,500 clients in…
MaxLinear acquires NanoSemi
CARLSBAD: MaxLinear Inc. has completed the acquisition of NanoSemi Inc. for an initial transaction consideration consisting $10 million in cash and 804,163 shares of MaxLinear’s Common Stock. NanoSemi is an industry-leading provider of intellectual property that utilizes patented machine learning techniques to improve signal integrity and power efficiency in SoCs, ASICs, and FPGAs used in…
Brookfield Property and Simon Property to acquire JCPenney retail and operating assets
PLANO: J.C. Penney Company Inc. has reached an agreement in principle to sell JCPenney through a court-supervised sale process. The Company plans to seek approval of a disclosure statement and, ultimately, confirmation of a plan of reorganization in parallel with the sale process. Related to the sale process, JCPenney expects to execute a “stalking horse”…