LONDON: Bowleven Plc, the Africa focused oil and gas exploration group, has confirmed the signing of a non-binding Letter of Intent (LOI) between Victoria Oil & Gas Plc (VOG) and New Age Ltd, for the supply of gas from the Etinde Field, offshore Cameroon. Under the terms of the LOI, VOG and New Age will…
SDCL completes $110 million acquisition of Primary Energy stake
LONDON: SDCL Energy Efficiency Income Trust plc has completed the acquisition of a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for an equity cash consideration of approximately $110 million. The 298MW portfolio consists of five operating projects which…
Filtronic wins advanced mmWave design and development contracts worth $1.6mn
LONDON: Filtronic plc, the designer and manufacturer of products for the critical communications and wireless telecoms markets, announced contract wins for two separate advanced mmWave design and development contracts that have strategic importance to the development of the Company and its technology roadmap. The first contract, from a leading RF equipment company in the USA,…
Halma Plc acquires Indiana based Sensit Technologies for $51.5 million
LONDON: Halma Plc has acquired Sensit Technologies LLC, a gas leak detection company based in Indiana, USA for a cash consideration of $51.5 million. Halma is a global group of life-saving technology companies, focused on creating a safer, cleaner and healthier future for people worldwide. Sensit Technologies manufactures equipment and designs technologies that enable natural…
RockRose signs SPA to acquire Cotton Gas Field
LONDON: RockRose Energy Plc, the independent oil and gas production company, has signed a Sales and Purchase Agreement (SPA) to acquire 100% of the equity of Speedwell Energy Limited, the holder of 100% interest in the Cotton gas Field in the UK sector of the Southern North Sea. The transaction is made for a limited…
Fusion Resource Provider to enter public availability in Q1 2020
LONDON, UK: WANdisco, the live data company for machine learning and AI, announced progress on the Company’s strategic joint product initiative with Microsoft which is expected to enter public availability in Q1 2020. Fusion Resource Provider (FRP) is a jointly developed solution with Microsoft which will deeply embed WANdisco’s Fusion technology into the data fabric…
RusHydro signs loan agreement with VTB Bank
MOSCOW: RusHydro has announced signing of loan agreement with VTB Bank regarding revolving loan facility for 15 years with limit of up to RUB 30 billion. The maximum interest rate on the loan is equal to key rate set by the Central Bank of the Russian Federation plus 2.9%. RusHydro Group is the leading producer…
Mashreq posts net profit AED 2.1 billion for 2019
DUBAI, UAE: Mashreq Bank, one of the leading financial institutions in the UAE, has reported AED 2.1 billion net profit for the year ending December 31, 2019. Mashreq’s CEO, Ahmed Abdelaal, said: “Mashreq Bank continued to register strong performance and achieved a healthy net profit of AED 2.1 billion in the year. Importantly, this was…
Oman Insurance posts net profit of AED 190.5 million for 2019
DUBAI: Oman Insurance Company has reported a turnaround net profit of AED 190.5 million for the year ended December 31, 2019, making it one the best in last 5 years. This was achieved due to the forward-looking strategies defined in 2018 and with placing primary focus on customer satisfaction. Despite the challenging environment, with downward…
Drake & Scull International announces completion of key projects in Kuwait
DUBAI, UAE: Drake & Scull International (DSI), a regional market leader of integrated design, engineering and construction projects, has announced that its Kuwaiti subsidiary, Drake & Scull for Electrical Contracting (DSI Kuwait), has successfully completed major engineering and construction projects on the country’s Sheikh Saad Al-Abdullah Al-Salem Al-Sabah Indoor Sports Complex and Sabah Al-Salem University…
Bayer to donate approximately EUR 15 million to combat coronavirus
LEVERKUSEN, GERMANY: Bayer is donating medicines and additional financial aid worth a total of approximately EUR 1.5 million to support the population affected by the outbreak of the novel coronavirus in China. The donations will be made to the Chinese Red Cross, which is working together with the health authorities to coordinate the deployment of…
IDEX receives orders from a global provider of financial services
OSLO: IDEX Biometrics ASA has received its first production orders worth $6.0 million under an agreement entered into in 2019 to provide fingerprint sensors to a leading global provider of financial services and news. Following initial sample orders in the fourth quarter of 2019, IDEX has now received the first production orders under this program…