LONDON: PPHE Hotel Group has announced its plans to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group d.d. PPHE Hotel Group is an international hospitality real estate company, with a £1.7 billion portfolio, valued as at summer of 2018 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily…
Abcam acquires gene editing platform and oncology product portfolio of Applied StemCell
LONDON: Abcam Plc has announced the asset purchase of the gene editing platform and oncology product portfolio of Applied StemCell, Inc. (ASC) for life science research and diagnostic markets. As a global life sciences company, Abcam identifies, develops, and distributes high-quality biological reagents and tools that are crucial to research, drug discovery and diagnostics. Over…
Zenith Energy forms subsidiary in Norway to bid in future licensing round
LONDON: Zenith Energy Ltd., an international oil & gas production company, has announced the establishment of its fully owned Norwegian subsidiary, Zenith Energy AS (Zenith Norway). As announced on December 9, 2019, Zenith intends to use Zenith Norway as a vehicle for intended participation in future licensing bids to be organised by the Norwegian Ministry…
Walker Greenbank’s Sanderson collaborates with National Trust
LONDON: Walker Greenbank PLC, the luxury interior furnishings group, announced that its Sanderson brand is collaborating with the National Trust to create a unique collection of fabrics that celebrate the countryside, coastline and nature conservation. The collaboration brings together Sanderson, whose floral themes are inspired by nature and the English countryside, with Europe’s largest conservation…
Saracen Minerals sells entire shareholding in Red 5 for A$39mn
SYDNEY: Saracen Mineral Holdings has sold its 10.5% interest in Red 5 Limited for approximately A$39 million. The sale was completed at A30c per share via book build process before the ASX market open on 30th January 2020. Saracen Managing Director Raleigh Finlayson said the proceeds of the sale would be used to pay down debt…
Royal Dutch Shell announces $1.0 billion share buyback programme
LONDON: Royal Dutch Shell has announces the commencement of trading in the next tranche of its share buyback programme previously announced on July 26, 2018. In the next tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a…
Nasdaq’s net revenues surge to $2.535bn in 2019
NEW YORK: Nasdaq, Inc. has net revenues of $2.535 billion for the full year 2019, an increase of $9 million from $2,526 million in the prior year. The full year increase in net revenues included a $112 million positive impact from organic growth in the non-trading segments, partially offset by a $29 million organic decrease…
Moody’s assigns an A2 IFS Rating to Oman Insurance
DUBAI: Moody’s Investor Services has assigned an A2 Insurance Financial Strength (IFS) rating to Oman Insurance Company citing its outlook as ‘Stable’. Moody’s, alongside S&P, is the largest credit rating agency worldwide. According to Moody’s, this rating reflects Oman Insurance Company’s strong market position and franchise in the Middle East region, well diversified business profile…
British government allows Huawei in its 5G roll-out
BEIJING: Victor Zhang, Vice President at Huawei, has made the following statement: “Huawei is reassured by the UK government’s confirmation that we can continue working with our customers to keep the 5G roll-out on track. “This evidence-based decision will result in a more advanced, more secure and more cost-effective telecoms infrastructure that is fit for…
Telenor reports fourth quarter 2019 results
OSLO: Telenor Group announced during the quarter ended December 31, 2019, subscription and traffic revenues increased by 2% and operating expenses decreased by 6%. As a result, EBITDA improved by 5%. “In Norway, growth in mobile revenues continued with further ARPU improvement, and we were able to offset copper revenue decline with growth in fibre…
DOF Subsea awarded multiple contracts across North America
OSLO: DOF Subsea has announced multiple contract awards from undisclosed clients across the North America region. The Group has secured contracts for pre-lay and LBL array installation activities in Guyana, subsea installation work in Trinidad and well-head removal work in Canada. All three contract awards will utilise Skandi Neptune. The Harvey Deep Sea has received…
Euro Manganese signs MoU with JFE Steel for technical collaboration
VANCOUVER: Euro Manganese Inc., a Canadian mineral resource company, has entered into a memorandum of understanding (MOU) with JFE Steel Corporation of Tokyo, Japan, to supply high-purity manganese products from its proposed demonstration plant at the Chvaletice Manganese Project in the Czech Republic for testing and evaluation. Approximately 10% (1,000kg) of the demonstration plant’s planned…