OSLO: Grieg Seafood ASA has signed Share Purchase Agreements (SPA) for the acquisition of Grieg Newfoundland AS in Newfoundland, Canada. The Newfoundland project includes exclusivity for salmon farming in Placentia Bay, which has a farmable area bigger than the Faroe Islands. The project currently comprises licenses for 11 sea sites. The project also includes a…
AM Best assigns stable outlook to Kuwait Insurance Company
LONDON: Insurance sector rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” with stable outlook to Kuwait Insurance Company. The ratings reflect KIC’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile…
Huawei global expert speaks out on cybersecurity barriers and needs of organizations
BEIJING: Advocating for uniform standards that support cybersecurity risk mitigation, Huawei joined top government, business, and academic leaders from the Middle East this week at the Global Cybersecurity Forum held in Riyadh, Saudi Arabia. Andy Purdy, Huawei’s Chief Security Officer in the US, attended the forum and stressed the importance of a cooperative approach to…
Commercial Bank of Dubai posts 20.5% growth in net profit
DUBAI: The Commercial Bank of Dubai (CBD) has reported 20.5% increase in net profit to AED 1.4 billion for the 2019 full year. The result was delivered on the back of broad based business improvements aligned with the bank’s strategy. Impairment allowances increased by 6.2% as the bank prudently increased provisions for non-performing loans. Operating…
Cascadura Well test confirms substantial liquids rich gas discovery
CALGARY: Touchstone Exploration Inc. announced that flowback testing of the first stage of the Cascadura-1ST1 well has been completed, confirming that the well is a significant liquids rich natural gas discovery. Paul Baay, President and Chief Executive Officer, commented: “The Cascadura production test results represent a dramatic change for Touchstone, as it confirms the monumental…
GPE signs £450 million ESG-linked revolving credit facility
LONDON: Great Portland Estates (GPE) signed a £450 million ESG-linked unsecured revolving credit facility (RCF) at a headline margin of 90 basis points over LIBOR with a group of five existing relationship banks. The facility has an initial five-year term which may be extended to a maximum of seven years at GPE’s request, subject to…
Erik J. Johnsen appointed CEO of Nordic based debt solutions provider, B2Holding
OSLO: B2Holding ASA, a Nordic based debt solutions provider, announced that Erik Just Johnsen has been appointed as CEO of the Company. Johnsen has been acting as CEO since 15 August 2019 and assumes the role with immediate effect. “On behalf of the board, I am very pleased that Erik has accepted to take on…
Infratil to own 40% stake in a recently formed renewable energy platform
WELLINGTON: Infratil Limited has announced an initial investment in Galileo Green Energy, LLC (GGE), a recently formed renewable energy platform headquartered in Zurich, Switzerland. Infratil will invest in GGE in conjunction with the Commonwealth Superannuation Corporation (CSC), the New Zealand Superannuation Fund and the Morrison & Co Growth Infrastructure Fund. Infratil will own a 40%…
BetMakers to manage fixed odds horse racing in New Jersey for 10 years
SYDNEY, AUSTRALIA: BetMakers Technology Group Limited’s subsidiary, BetMakers DNA Pty Ltd has signed an agreement with New Jersey Thoroughbred Horsemen Association (Horsemen) and Darby Development LLC., to deliver and manage Fixed Odds horse racing into New Jersey along with exclusive distribution of Monmouth Park racing content throughout other parts of the United States and internationally….
Second Commercial sale of RZTO technology secured to Israeli cannabis grower
SYDNEY: Roots Sustainable Agricultural Technologies Limited has secured a $36K AUD sale on top of previous order of $47K AUD for its Root Zone Temperature Optimisation (RZTO) technology, from Barlev agricultural crops ltd (Barlev), a prominent Israeli medical cannabis producer. The order was secured following a successful fully commercial, RZTO technology installation on the grower’s…
Sequoya Cannabis Limited wins EU GMP Certification
SYDNEY, AUSTRALIA: Sequoya Cannabis Limited’s Polish subsidiary, Sequoya Europe, has received EU GMP Certification for its newly completed European Centre of Extraction and CBD Production, announced MMJ Group Holdings Limited, an Australian-listed company that specialises in managing a portfolio of investments along the cannabis value-chain. Sequoya’s has achieved its first step to become a significant…
FireAngel wins EU patent for predictive algorithm platform, Predict
LONDON: FireAngel Safety Tech, Europe’s developer and supplier of home safety products, announced that FireAngel Predict, the Group’s predictive algorithm management information platform, has been granted a patent by the European Patent Office. This follows the successful grant of a patent awarded in both the USA and Australia. Following a thorough examination process by the…