OSLO: Nel Korea Co., Ltd., a subsidiary of Nel ASA, has received a purchase order from Hydrogen Energy Network Co., Ltd. (HyNet) for three additional H2Station hydrogen fueling stations in Korea. “We are happy to receive the purchase orders for three additional hydrogen fueling stations. It is another milestone after we went operational with our…
Vow ASA get contract for waste sorting robotics
OSLO: Vow ASA has, through its subsidiary ETIA, been awarded a milestone contract for waste sorting robotics based on artificial intelligence (AI). A contract has been signed with one of the largest recycling companies for ferrous and non-ferrous metals in Europe on an application to sort out copper parts in ferrous waste streams. This first…
Zwipe steps up collaboration with Toppan Forms Card Technologies Limited
OSLO: Zwipe announced a new milestone in its ongoing collaboration with Toppan Forms Card Technologies Limited (TFCT), a leading smart card manufacturer based in Hong Kong. TFCT has placed an order that brings the recently announced partnership to begin small scale manufacturing of biometric payment cards. “We have allocated time and space in our manufacturing…
U.S. life/annuity insurance industry posts $23 billion net income loss in first-quarter 2020
OLDWICK: The U.S. life/annuity (L/A) industry posted a $23.1 billion net income loss in the first quarter of 2020, driven mainly by a 51% increase in expenses over the same prior-year period. These preliminary financial results are detailed in a new Best’s Special Report, titled, “First Look – Three Month 2020 Life/Annuity Financial Results,” and…
APTMA demands reduction in gas tariff by 35-40% for export oriented textile industry
KARACHI: All Pakistan Textile Mills Association (APTMA) demanded of the Prime Minister Imran Khan and the economic managers of the government to reduce the indigenous gas tariff for the five export oriented sectors in line with major reduction in oil prices in the international market, to recover from the negative impact of Coronavirus (COVID-19) on…
Singapore Technologies Engineering reports cybersecurity breach at U.S. subsidiary
SINGAPORE: Singapore Technologies Engineering Ltd (ST Engineering) Sunday announced that its U.S. subsidiary, VT San Antonio Aerospace, Inc., recently discovered a cybersecurity incident where a sophisticated group of cyber criminals, known as the Maze group, gained unauthorised access to its IT network and deployed a ransomware attack. At this point, the ongoing investigation indicates that…
Ascott Residence Trust to join FTSE EPRA Nareit Global Developed Index
SINGAPORE: Ascott Residence Trust (ART), the most geographically diversified and largest hospitality trust in Asia Pacific, will be included in the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index) from 22 June 2020. Ms Beh Siew Kim, Chief Executive Officer of the managers of ART, said: “We constantly explore ways to enhance…
Singapore Airlines secures S$10 billion in fresh liquidity
SINGAPORE: Singapore Airlines (SIA) has raised S$10 billion of liquidity through its recent Rights Issue, as well as a mix of secured and unsecured credit facilities. This puts SIA on a steady footing as it tackles the challenges posed by the global Covid-19 outbreak. SIA secured S$8.8 billion in liquidity through the successful completion of…
AC Energy acquires 12.82% stake in Infigen Energy for AUD 90.4 million
SINGAPORE: AC Energy Inc, a wholly-owned subsidiary of Ayala Corporation, through its affiliate UAC Energy Holdings Pty Ltd, has directly and indirectly acquired a 12.82% stake in Infigen Energy Limited for AUD 90.4 million. Infigen is a renewable energy developer, generator, and retailer listed on the Australian Securities Exchange that owns and operates 670MW of…
F J Benjamin scales up online store network amid COVID-19
SINGAPORE: Southeast Asia’s leading fashion retailer F J Benjamin Holdings (FJB) has substantially scaled up its online store network following agreements struck with several global brands. Group Chief Operating Officer Douglas Benjamin said since the outbreak of the coronavirus early this year, it has been negotiating with principals of fashion brands it represents, as well…
SGX reports market statistics for May 2020
SINGAPORE: Singapore Exchange (SGX) released its market statistics for May 2020. The reopening of economies around the world lifted sentiment in equity markets, even as the COVID-19 pandemic continue to cloud the outlook for global growth. The exchange’s derivatives franchise gained amid increased portfolio demand in foreign exchange (FX) and commodities. Securities daily average value…
Agria Pet Insurance appoints Crossword Cybersecurity as its cyber security partner
LONDON: Crossword Cybersecurity PLC, the technology commercialisation company focused solely on cyber security and risk, has announced that its Consulting division has signed a three year contract with Agria Pet Insurance Ltd, the award winning lifetime pet insurer, working as its trusted cyber security partner. Crossword’s Virtual Chief Information Security Officer (vCISO) managed service will…