DUBAI: Dubai Islamic Bank (DIB) has announced the completion of the acquisition of Noor Bank in a transaction structured through a share swap. As part of this agreement, DIB has issued 651,159,198 new shares to take its issued share capital to 7,240,744,377 shares. In line with the acquisition process, Noor operations will be completely integrated…
Questerre Energy completes acquisition of assets in Quebec
CALGARY: Questerre Energy Corporation has received all approvals and closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “With the acquisition closed, we have regained control and operatorship of our giant natural gas…
BW Energy completes second production well of the Tortue Phase 2 development
OSLO: BW Energy, a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments, has completed the second production well of the Tortue Phase 2 development. The DTM-5H well marks the completion of the first of two new well clusters on the Tortue field which will…
Bosch to increase holding in Ceres to 18% to extend strategic relationship
LONDON: Ceres Power Holdings announced that Robert Bosch GmbH (Bosch) will increase its equity shareholding in Ceres from c.4% to c.18%. This is a significant strategic step forward in the partnership established in August 2018 and follows successful collaboration on technology development and manufacturing in both the UK and Germany. Since signing a strategic agreement…
Technology solutions provider teams up with a cannabis business
MELBOURNE: LYPHE Group, a European leader in medical cannabis solutions, is entering into a joint venture with JAYEX Technology Ltd, a subsidiary of JAYEX Healthcare Ltd. JAYEX is a specialist in patient engagement software, supplying the UK NHS, Australian and New Zealand health care markets. The new joint venture is deploying software solutions that will…
MyFiziq signs pact to integrate body tracking application into the Bearn app
PERTH: MyFiziq Limited, a company within the information technology sector, has signed a binding term sheet with Bearn LLC in North America, the owner and operator of a transformative Bearn Application (app). MyFiziq will be paid US$2.00 per scan from Bearn. Bearn and MyFiziq will collaborate to integrate MyFiziq’s body tracking application into the Bearn…
XTEK launches three ballistic product launch at Shooting, Hunting and Outdoor Trade Show (SHOTShow)
SYDNEY: XTEK Limited announced to launch three new products and meet with potential distributers, customers and strategic parties during the 42nd Shooting, Hunting and Outdoor Trade Show (SHOTShow) in Las Vegas, USA from 21 to 24 January 2020. XTEK’s XTclave manufactured hard armour plate and ballistic helmet shell to be introduced to the lucrative US…
QSE closes registration for its Financial Education Competition for Universities
DOHA: Qatar Stock Exchange (QSE) has closed registration for its second annual Financial Education Competition for Universities, whose final ceremony will be held and its prizes will be presented on March 17, 2020. Students’ teams from seven universities/colleges are participating in the event including: The second edition of this competition represents Qatar Stock Exchange’s commitment…
SHUAA led issuance of GFH Financial Group’s $300mn Sukuk oversubscribed more than two times
DUBAI, UAE: SHUAA Capital, the asset management and investment banking platform created by the merger of SHUAA Capital and Abu Dhabi Financial Group (ADFG), announced that it had along with other parties successfully priced and issued GFH Financial Group’s five-year sukuk at $300 million. The sale of GFH Financial Group’s sukuk held yesterday was a…
Coal now contributes 27pc to Pakistan’s overall power generation
KARACHI: Coal-based electricity generation witnessed 94.5 percent growth in November 2019 to reach 2,030 GWh taking coal’s share in country’s energy mix to 27 percent, data issued by National Electric Power Regulatory Authority (NEPRA) suggests. “Induction of China Power Hub Generation and Engro Powergen Thar in the system was the primary reason behind this surge,”…
Huawei ranked 5th in 2019 EU Industrial R&D Investment Scoreboard
DUBAI: Huawei has been ranked fifth on the recently released 2019 EU Industrial R&D Investment Scoreboard as one of the biggest investors in research and development worldwide. The Scoreboard is made up of the 2,500 companies investing the largest sums in research and development in the world, with data collected from companies’ annual reports and…
Oakum Cannabis harvests first crops from RotoGro Rotational Hydroponic Garden Systems
MELBOURNE: Roto-Gro World Wide (Canada) Inc., a wholly-owned subsidiary of Roto-Gro International Limited announced that Oakum Cannabis Corporation, formerly Frozen Penguin Medical Industries, has harvested its first large scale commercial lawful cannabis crops, cultivated with 48 of its recently installed and commissioned RotoGro Rotational Hydroponic Garden Systems. Oakum has successfully initiated and conducted commercial operations…