OSLO, NORWAY: In order to strengthen the balance sheet, Ocean Yield ASA has entered into an agreement with Aker Capital AS, whereby Aker will acquire from Ocean Yield 50% of 7 tankers with long-term charters. The Joint Venture (JV) will own four LR2 product tankers with long-term charter to the Navig8 Group and three suezmax…
Freehill Mining signs binding agreement for Acquisition of El Dorado Project
PERTH: Freehill Mining Limited’s wholly owned subsidiary, San Patricio Mineria SpA has executed a formal binding agreement with the vendor of the 750 hectare El Dorado Project, Minera El Dorado SCM, which grants San Patricio a three-month option to purchase these tenements that directly adjoin Freehill’s 67Mt Yerbas Buenas magnetite project. El Dorado Project is…
Flexiroam data plan awarded as benefits to select Mastercard cardholders
SYDNEY: Flexiroam Limited announced that in a landmark partnership with Mastercard, the Flexiroam global data plan is now offered for the first time as benefits to cardholders, with select cardholders in Taiwan as the first beneficiaries of the program. Eligible Mastercard cardholders will be rewarded with five days of global roaming data of up to…
Commercial Bank of Dubai opens up to foreign investors
DUBAI, UAE: Commercial Bank of Dubai, one of the leading banks in the UAE, announced that the bank is allowing foreign investment into its shares. The bank has set a Foreign Ownership Limit (FOL) of 40% after completion of all regulatory formalities following the shareholders’ approval obtained during the Annual General Assembly Meeting of 11…
Tritech awarded S$23 million consultancy contract by the Land Transport Authority
SINGAPORE: Tritech Consultants Pte Ltd, wholly-owned subsidiary of Tritech Group Limited, has been awarded a S$23.0 million contract for Jurong Region Line (Phase 1) by the Land Transport Authority (LTA) Contract is for the design and construction of elevated Hong Kah Station (JS4) and Corporation Station (JS5) and approximately 3km of elevated MRT Viaduct. Contract…
CapitaLand enhances safety across its business parks in India
SINGAPORE: CapitaLand, one of Asia’s largest diversified real estate groups, is stepping up cleaning and adopting contactless technologies across its nine business parks in India to continue to provide a safe environment to tenants and employees amid the COVID-19 pandemic and beyond. The multi-layered measures are designed to minimise contact amongst people and surfaces, building…
Marco Wirén appointed Chief Financial Officer of Nokia; Kristian Pullola to step down
ESPOO, FINLAND: Nokia has appointed Marco Wirén as CFO of the company and member of the Group Leadership Team, replacing current CFO Kristian Pullola. Wirén will join Nokia on September 1, 2020. “I am pleased that Marco will be joining us to take the reins of Nokia along with our future CEO, Pekka Lundmark,” said…
Chess Dynamics awarded €7.5 million international contract
LONDON: Cohort Plc, the independent technology group, announced that its wholly owned subsidiary, Chess Dynamics, has been awarded a €7.5 million contract for its Air Guard Counter-Unmanned Aerial Systems (C-UAS) for air base and critical infrastructure protection for an international customer. Andy Thomis, Cohort Chief Executive, said: “I am delighted to confirm that Chess has…
AM Best affirms credit ratings of Brightsideco Insurance
SINGAPORE: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Brightsideco Insurance Limited (New Zealand). The outlook of these Credit Ratings is stable. The ratings reflect Brightsideco’s balance sheet strength, which AM Best categorises as adequate, as well as its marginal operating performance, limited…
Europa Oil & Gas acquires offshore Ireland licence in proven gas play
LONDON: Europa Oil & Gas (Holdings) plc has announced the conditional acquisition of a 100% interest in Frontier Exploration Licence (FEL) 3/19, offshore Ireland, from DNO. Acquiring FEL 3/19, which is located close to the 1tcf producing Corrib gas field in the Slyne basin, will add the 1.2 tcf Edge prospect to Europa’s inventory in…
AM Best upgrades issuer credit ratings of South Carolina Farm Bureau Group members
OLDWICK: Insurance sector rating agency, AM Best has upgraded the Long-Term Issuer Credit Rating to “bbb+” from “bbb” and affirmed the Financial Strength Rating of “B++” of South Carolina Farm Bureau Mutual Insurance Company and Palmetto Casualty Insurance Company. The outlook of these Credit Ratings remains stable. Both companies are domiciled in Cayce-West Columbia, SC….
Tom O’Mahony leaves Origin Enterprises after 35 years of service
LONDON: Origin Enterprises plc, the Agri-Services Group, announced that Tom O’Mahony, Group CEO, has notified the Board that after 13 years as Group CEO, he will retire from his role and from the Board by the end of the 2020 financial year. Sean Coyle, Group CFO, has been appointed as Tom’s successor, effective 1 July…