VANCOUVER: AgraFlora Organics International’s wholly owned subsidiary Farmako GmbH has entered into a binding supply term sheet with ZenPharm Ltd to enter into a supply agreement which is expected to be completed in the coming weeks. Under the conditions of the Term Sheet, ZenPharm will supply EU-GMP quality medical cannabis flower cultivated by Zenabis to…
AM Best affirms credit ratings of CMB Wing Lung Insurance Company
HONG KONG: Rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of CMB Wing Lung Insurance Company Limited. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect CMBWLI’s balance sheet strength, which AM Best categorises as very strong, as well…
SpectrumOne applies for trademark protection in the EU
OSLO, NORWAY: SpectrumOne AB has today applied for trademark protection in the EU. The company has several ongoing dialogues with partners operating at European level. Hosni Teque-Omeirat, CEO of SpectrumOne saud, “This is an important step in showing our partners in existing dialogues our ambition and drive to drive our cooperation internationally. In our partner…
Key industrial parks unveiled in Hainan free-trade port
HAIKOU: A batch of key industrial parks were unveiled on June 3 in China’s island province of Hainan, in an effort to promote the construction of the Hainan free-trade port. The 11 key parks around the island cover three major fields, including tourism, modern services and advanced technologies. “The industrial parks are important areas to…
Lonza appoints Pierre-Alain Ruffieux as new Chief Executive Officer
BASEL, SWITZERLAND: The Board of Lonza announced today that Pierre-Alain Ruffieux has been appointed Chief Executive Officer effective 1 November 2020. Prior to that he held roles of increasing seniority at Novartis and has over 20 years’ experience in biopharmaceuticals. Albert Baehny, Chairman of the Board said: “The Board is delighted to have appointed someone…
Mobilicom selected to join AI 5G consortium
MELBOURNE: Mobilicom Limited has been selected to join the WIN (Wireless Intelligent Networks) Consortium to execute a project during calendar year 2020 valued at more than $4 million. The WIN Consortium is funded by the Israel Innovation Authority and is expected to be extended through 2021 and beyond. Mobilicom’s share in the project is valued…
Kiwi insurer Tower gives back $7.2m to customers
SYDNEY: Kiwi insurer, Tower, has confirmed that it will be refunding customers $7.2m, due to the lower cost of car claims during the COVID-19 lockdown period. Tower CEO, Richard Harding, said that every customer would be refunded part of the car insurance premiums they paid during the level three and four lockdowns. “We’re a Kiwi…
Regional express increases flights in response to QantasLink increases
PERTH: Regional Express (Rex) has announced that it will increase its flying schedule in response to QantasLink’s actions to more than double its flights to ports that are in competition with Rex. From 6 July 2020, Rex will be providing daily weekday return services to these competitive routes and will also provide twice-daily return services…
Amazon and Slack join forces to deliver the future of the enterprise workplace
SAN FRANCISCO: Amazon Web Services Inc. (AWS) and Slack Technologies Inc. announced a new multi-year agreement to deliver solutions for enhanced enterprise workforce collaboration. Slack and AWS will strategically partner to help distributed development teams communicate and become more efficient and agile in managing their AWS resources from inside Slack. Slack will migrate its Slack…
Keppel enters into framework deed with Borr Drilling to defer scheduled delivery of rigs
SINGAPORE: Keppel Offshore & Marine Limited has through its wholly owned subsidiaries, Keppel FELS Limited and Offshore Partners Pte. Ltd., entered into a Framework Deed with Borr Drilling Limited and certain of its subsidiaries pursuant to which Keppel O&M agreed to, among other things, defer the scheduled delivery of five jackup rigs to Borr Drilling…
JCPenney provides update on store optimization strategy
PLANO, TEXAS: J. C. Penney Company has taken the first step in implementing its store optimization strategy. Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures. Following entry of an order at the…
Clive Dix appointed deputy chair of the steering board of UK Vaccine Taskforce
LONDON: Chief Executive Officer of C4X Discovery Holdings Clive Dix has been appointed a member and Deputy Chair of the Steering Board of the UK Vaccine Taskforce, the group set up by the Government’s Chief Scientific Adviser, Deputy Chief Medical Officer, Business Secretary and Health Secretary to lead UK efforts to find and manufacture a…