SAINT LOUIS: Belden Inc., a global supplier of specialty networking solutions, announced the completion of the previously announced divestiture of the Company’s Live Media business (Grass Valley) to Black Dragon Capital, a private equity firm led by technology operating executives with deep media-related expertise and a proven track record of building market leading companies. The…
Pakistan’s petroleum products sales decline 11 percent in FY20
KARACHI: Pakistan’s Oil Marketing Companies (OMCs) sales during the year ended June 30, 2020 witnessed a downfall of 11 percent to 16.41 million tons with the major contributor being Furnace oil (FO) which goes down by 36 percent in FY20, numbers revealed by Oil Companies Advisory Committee (OCAC) suggest. However, a total of 1.62 million…
Electro Optic Systems to provide 251 Remote Weapon Stations for the Australian Defence Force
CANBERRA: Electro Optic Systems Holdings Limited (EOS) has entered into contract negotiations with the Commonwealth of Australia for supply of 251 Remote Weapon Stations and related materiel. The acquisition activity is part of the $270 billion capability upgrade for the Australian Defence Force, under the new 2020 Force Structure Plan. The execution of a formal …
Greenlane Renewables announces framework agreement to reduce outstanding debt
VANCOUVER: Greenlane Renewables Inc. announced the execution of a Framework Agreement with Pressure Technologies plc (PT), Creation Partners LLP and Brad Douville. Through the Framework Agreement, Greenlane’s outstanding promissory note to PT will be reduced by $1.8 million to $5.2 million upon disposition of PT’s equity position in Greenlane which is expected to occur through…
Liquiditi Solutions organizes global virtual forum addressing COVID-19 response
SEOUL: Liquiditi Solutions and Unit Ventures successfully co-hosted the inaugural Liquiditi Solutions Forum that spotlighted doctors, business leaders, and health experts that are leading the response to COVID-19. The virtual conference brought together 25 speakers from four continents, including Africa, Asia, Europe and North America, and attendees from all over the globe. Liquiditi Solutions offers…
Columbia Property Trust terminates WeWork’s lease at Columbia’s 149 Madison Avenue
NEW YORK: Columbia Property Trust and WeWork announced that they have mutually agreed to terminate WeWork’s lease at Columbia’s 149 Madison Avenue. This decision is part of WeWork’s plan to seek profitable growth and optimize the company’s real estate portfolio, while allowing Columbia to assume full control of 149 Madison Avenue, including all improvements that…
Housing rights advocates shame Essex Property Trust CEO, Mike Schall
SANTA CLARITA: A coalition of tenants’ rights advocates that include Housing Is A Human Right (HHR), the housing advocacy division of AIDS Healthcare Foundation (AHF) have staged several socially-distant protests calling out corporate landlord and other bad actors for fueling California’s ongoing housing affordability and homeless crises. The housing rights advocates will stage another protest…
AM Best downgrades credit ratings of General Insurance Corporation of India
SINGAPORE: Global rating agency AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “a” of General Insurance Corporation of India (GIC Re). The outlook of the FSR has been revised to stable from negative whilst the Long-Term ICR…
Nyjah Huston, casino game, 5th Planet Games
COPENHAGEN: 5th Planet Games announced the launch of Nyjah Huston casino style game. The game is developed and distributed in cooperation with the Swedish slot game supplier Play’n GO. “With regards to the Vikings game, we are still waiting on the legal approval from the IP holder. As soon as we have this, we will…
Hitachi ABB Power Grids Ltd commences operations
TOKYO: In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. Hitachi has an 80.1 percent stake in this new joint venture entity (which has business volume of approximately 10 billion USD)…
Messe Frankfurt to hold virtual summer exhibition
DUBAI: Due to the COVID-19 pandemic and the Javits Center turning into a makeshift hospital Messe Frankfurt has decided to take the Texworld summer edition show to a virtual platform with the aim to support the sourcing community through these unprecedented times. The transition to a virtual event for the summer edition reinforces the fierce…
Huawei to emphasize 5G’s role in post-pandemic economic growth and Middle East’s digital transformation
BEIJING: Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, will host this year’s SAMENA Council Leaders’ Summit for the seventh consecutive year. The 2020 event, which is organized by SAMENA Telecommunications Council, is set to take place on9th July, with leaders from multiple country clusters to participate virtually….