VICTORIA: Alliance Resources Ltd has announce that the next phase of reverse circulation (RC) drilling has commenced at the Weednanna Gold Deposit, 40km north of Kimba on the Eyre Peninsula, South Australia. The drilling program consists of 57 RC holes totalling 5,220m which will drill out the Shoot 1 area on a 10m x 10m…
Ibaera’s IGIC gains control of Azumah Resources Limited
PERTH: Azumah Resources Limited notified that IGIC Pte Ltd (an affiliate of Ibaera Capital Fund GP) has increased its relevant interest to over 50% of Azumah’s shares, thereby gaining control of the Company. The Independent Directors of Azumah unanimously recommend shareholders accept Ibaera’s increased off-market cash takeover offer of 3.3 cents per Azumah share in…
SALAMA posts 15.78% growth in net profits
DUBAI: Islamic Arab Insurance Company (SALAMA), listed on the Dubai Financial Market, has shown consistent growth in net profit over the last three quarters of 2019 and has reported 13.6% growth in gross contribution, attributing to a total of Dh901 million in gross contribution for 9-month 2019 compared to Dh793 million in 9-month 2018. As…
Agro increases number of miner machines in production to 7,000
LONDON: Argo Blockchain Plc, a leading enterprise-scale cryptominer based in the UK, announced that 500 new Bitmain S17 Antminer machines were brought onstream last week, increasing the total number of machines in production to 7,000, a press release issued to London Stock Exchange said . The new machines are part of Argo’s strategy to install…
Alpha FMC acquires cloud SaaS business for £5.7 million
LONDON: Alpha FMC has completed the acquisition of 100% of the issued share capital of Obsidian Solutions Limited, a financial services cloud SaaS business in the United Kingdom for £5.7 million cash payable in two instalments, the first instalment being payable on completion and the second after six months. Alpha FMC is a leading global…
IndigoVision acquires Agorasys SA for €3.0 million
LONDON: IndigoVision Group has announced the acquisition of 100% of the issued share capital of Agorasys SA for a consideration of up to €3.0 million, of which €2.3 million is payable in cash at completion to clear Agora’s existing financial indebtedness. Based in Lisbon, Portugal, Agora was founded by Pedro Soares, Chief Executive Officer and…
Air Partner plc expands in Middle East to strengthen global footprint
DUBAI: Air Partner plc, the global aviation services group, has announced the opening of its new office in Dubai as it looks to extend its offering to the Middle East and grow market share in the region. The office, which is located in Dubai Multi Commodities Centre (DMCC), offers Air Partner’s full suite of Charter…
Ithaca completes $2 billion acquisition of Chevron North Sea Limited
LONDON: Ithaca Energy Limited has completed the $2 billion acquisition of Chevron North Sea Limited (CNSL). The transaction provides a material and important step up in the scale and breadth of the Company’s asset base, adding ten additional producing field interests to the existing portfolio, along with a wider portfolio of investment opportunities from which…
Immedia Group establishes satellite presence in the USA
LONDON: Immedia Group has established a satellite presence in the USA. The office, which is primarily focused on the Group’s AVC Immedia business is located in Houston Texas and will be headed up by Kacey White. Kacey has already worked with the Group on numerous projects over many years throughout the USA offering businesses and…
Pyaterochka opens new distribution centre in Tatarstan
KAZAN: X5 Retail Group, a leading Russian food retailer, has expanded its logistics infrastructure in the Volga Federal District with a Pyaterochka distribution centre (DC) in Zelenodolsk, a town not far from Kazan. Boasting a total area of some 39,500 sq m, the DC features eight storage zones with a specific temperature band in each…
Pakistan begins onion export to Bangladesh after 15 years
DHAKA: Pakistani onion would be placed in Bangladesh market after almost 15 years, as onion exports have begun to Bangladesh following a ban imposed by Indian government on onion exports, an official at Trade Development Authority of Pakistan (TDAP) said. “Bangladesh’s Tasho Enterprise has finalized deals with a Pakistani company Roshan Enterprise Karachi, and 12…
AM Best affirms ratings of Anthem Inc. and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of the core Blue Cross Blue Shield-branded insurance subsidiaries of Anthem, Inc.. The outlook of these Credit Ratings is stable. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+”, the Long-…