SYDNEY: Nvoi Limited has announced the appointment of Raife Watson as Chief Executive Officer. This appointment follows the Company’s recent announcement of its new growth strategy and strategic partnership with CareerOne. Raife will lead Nvoi in this new direction, bringing together his deep industry experience and key employer networks to launch and grow its business….
Cellmid’s Advangen signs trading agreement with Priceline
SYDNEY: Cellmid Limited’s wholly owned subsidiary, Advangen International Pty Ltd has entered into a national trading agreement with API for the ranging of its évolis Professional anti-aging hair care products in approximately 400 Priceline Pharmacy stores around Australia. The products are expected to be available in stores from November 2019. The agreement is expected to…
Bass Oil commences production from Bunian Field
SYDNEY: Australia’s Bass Oil Limited has announce that the Bunian 5 well has commenced production testing from the TRM 3 sandstone, one of the two productive oil reservoirs in the well. The well averaged 1128 barrels of oil per day with a two percent water cut. Production was recorded on a fully open choke with…
Ambertech Limited to acquire Audio Visual Division of Hills Limited
SYDNEY, AUSTRALIA: Ambertech Limited has reached an agreement to acquire the Audio Visual (AV) Distribution business of Hills Limited. The acquisition, which is subject to certain conditions and final approval by Ambertech shareholders, is expected to complete in mid December 2019 and includes the Hills AV businesses in Australia and New Zealand. Under the agreement…
10 well appraisal program commences in Cooper Basin
SYDENY: Cooper Energy has announced a 10 well appraisal program by the PEL 92 joint venture commenced with the spudding of Callawonga-22 on November 5, 2019. Callawonga-22 is the firstof4appraisal wells to be drilled at the Callawongaoil field, to be followed by 4 wells at the Butlers oil field and 2 wells at the Rincon…
South32 sells interest in South Africa Energy Coal
PERTH: South32 Limited has entered into a binding conditional agreement for the sale of 91.835% shareholding in South32 SA Coal Holdings Proprietary Limited (South Africa Energy Coal, SAEC) to a wholly-owned subsidiary of Seriti Resources Holdings Proprietary Limited (Seriti) and two trusts which will acquire and hold equity on behalf of employees and communities. Subject…
Solstad enters new contract with Equinor
SKUDENESHAVN: Solstad Offshore ASA has entered into a new contract with Equinor for the hire of anchor handling vessel (AHTS) Normand Ferking. The duration of the contract is 1 year firm, and in addition Equinor has the option to extend with further 2x 1 year. Commencement is in direct continuation of current charter, thus the…
QIIB begins pre-Sukuk launch business tour
DOHA: Qatar International Islamic Bank has begun a business tour involving a series of meetings with investors in several countries, as the bank plans to issue a USD denominated Sukuk. Qatar International Islamic Bank (QIIB), appointed Standard Chartered Bank as Sole Structuring Advisor, QNB Capital and Standard Chartered Bank as Joint Global Coordinators, and Barwa…
AM Best revises rating outlook to negative for the Order of United Commercial Travelers of America
OLDWICK: AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B (Fair) and the Long-Term ICR of “bb+” of The Order of United Commercial Travelers of America (UCT). The outlook of the FSR remains stable. The Credit Ratings reflect…
S&P downgrades APC Automotive Technologies to ‘CC’ on exchange offering; outlook negative
NEW YORK: S&P Global Ratings has lowered the issuer credit rating to ‘CC’ from ‘CCC’ on APC Automotive Technologies Intermediate Holdings LLC (APC), and the issue-level rating on the first-lien term loan due 2024 to ‘CC’ from ‘CCC’ to reflect its view that this transaction, if completed, results in investors receiving less than the original…
Mothercare UK announces measures to being a cash generative and profitable business in FY21
LONDON: Mothercare UK Limited (Mothercare UK) and Mothercare Business Services Limited (MBS) have announced further steps in the restructuring of the Group to return to being a sustainable and profitable business. Mothercare plc earlier on 5 November 2019 had announced appointment of Zelf Hussain, Toby Banfield, and David Baxendale of PricewaterhouseCoopers LLP as administrators to…
Japan to launch a special training programme for Pakistan
ISLAMABAD: Japan, which is already undertaking various training programs in the energy sector of Pakistan for emerging energy and LNG markets, will soon a training program specifically designed for Pakistan. Kuninori Matsuda, the Ambassador of Japan to Pakistan along with Ryo Minami, Director General, Agency for Natural Resources and Energy, Japan called on the Special…