SINGAPORE: Raffles Infrastructure Holdings Limited has won the bid for the Bangladesh Trust Green City Development Project with an estimated value of USD 800 million. Raffles Infrastructure refers to its announcement dated 13 December 2019 in relation to the bidding for a township development project in Zones 2, 3 and 4 of Baunia, Dhaka (now…
Grand Banks Yachts announces resumption of operations at Pasir Gudang yard in Malaysia
SINGAPORE: Grand Banks Yachts Limited announced that the Group’s manufacturing yard in Pasir Gudang, Malaysia, has received approval from the Government of Malaysia to resume operations with immediate effect. As announced on 19 March 2020 and 28 April 2020, the temporary closure of the Pasir Gudang yard was in compliance with the Movement Control Order…
Boustead Projects awarded significant design-and-build contract in Malaysia
SINGAPORE: Boustead Projects Limited, a leading specialist in smart eco-sustainable real estate solutions, announced that its wholly-owned design and-build subsidiary in Malaysia, BP Engineering Solutions Sdn Bhd has secured a significant design-and-build contract to deliver an advanced high-tech industrial facility in Penang, Malaysia. The client is the local unit of a global technology corporation. The…
AM Best affirms credit ratings of Dubai Insurance Company
DUBAI: Insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Dubai Insurance Company (PSC) (DIC). The outlook of these Credit Ratings is stable. The ratings reflect DIC’s balance sheet strength, which AM Best categorises as very strong, as well as…
Petards acquires NASBox and associated Nexus software from Telematics Technologies
LONDON: Petards Group, developer of advanced security and surveillance systems, has acquired the intellectual property right, and related inventory of Nexus ANPR Smart Box (NASBox) and associated Nexus software from Telematics Technologies LLP for a maximum consideration of £1,049,000. The consideration comprises an initial amount of £79,000 satisfied in cash from Petards’ existing cash reserves,…
David Blackwood appointed new chairman of Connect Group
LONDON: Connect Group PLC announced David Blackwood will join the Board as Chairman and non-executive director with effect from 13 May 2020. The appointment of Mr Blackwood will similarly see Gary Kennedy step down as Chairman and non-executive director of the Company with effect from close of business on 13 May 2020, following publication of…
Luis Gallego to be new Chief Executive of IAG
LONDON: International Airlines Group (IAG) announced that Luis Gallego will succeed Willie Walsh as Group chief executive on 24 September, 2020. Antonio Vazquez, IAG’s chairman, said: “We announced in March that Willie would delay his retirement for a short period. We can confirm today that Luis Gallego will take over the leadership on 24 September,…
Shazad G. Dada appointed President & CEO of United Bank Limited
LONDON: Board of Directors of United Bank Limited (UBL) has decided to appoint Mr. Shazad G. Dada as President & CEO of UBL with effect from 01 July 2020 for a term of 03 years’ subject to approval of State Bank of Pakistan and compliance with all applicable laws, rules and regulations in this regard….
GSK sells its holding in Hindustan Unilever Limited
LONDON: On 1 April 2020 GlaxoSmithKline plc (GSK) announced the completion of its divestment of Horlicks and other Consumer Healthcare nutrition products in India to Unilever, including the merger of its Indian listed entity, GlaxoSmithKline Consumer Healthcare Limited (GSK India), and Hindustan Unilever Limited (HUL). Through the merger of GSK India with HUL, GSK acquired…
PIA chooses Amadeus as its long-term distribution partner to drive future growth
KARACHI: Pakistan International Airlines (PIA) has reached a landmark agreement in distribution with Amadeus, the leading travel technology company, giving PIA full access to Amadeus’ global travel seller network. Through this new agreement, Amadeus-connected agencies will now be able to book PIA’s full suite of domestic and international inventory through the Amadeus Travel Platform. “We’ve…
DNO completes Baeshiqa testing, prepares to spud next well
OSLO: DNO ASA, the Norwegian oil and gas operator, announced completion of testing and appraisal of the Baeshiqa-2 exploration well in the Kurdistan Region of Iraq and the imminent spud of an exploration well on a separate prospect, Zartik, located 15 kilometers southeast on the same license. The testing has proven oil and gas in…
Plymouth Rock Technologies certified to operate drone platform in UK airspace
PLYMOUTH, MASSACHUSETTS: Plymouth Rock Technologies Inc., a leader in the development of cutting edge threat detection technologies, has received permission for Commercial Operations (PfCO) from the Civil Aviation Authority (CAA) to operate Small Unmanned Aircraft (SUA) / Small Unmanned Surveillance Aircraft (SUSA). Having successfully passed the CAA PfCO certification process, PRT can now utilize its…