OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Caribbean Alliance Insurance Company Limited (CAIC). The outlook of these Credit Ratings is stable. The ratings reflect CAIC’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance,…
Panoro Energy reports 68% increase in 2P oil reserves at Dussafu
OSLO: Panoro Energy ASA has reported a 68% increase in 2P oil reserves in the Dussafu Marin Permit, offshore Gabon. Following the successful discovery and appraisal of the Hibiscus Updip well announced by Panoro on 4 October 2019, the discovered resources at Hibiscus has now been quantified and classified by independent reserves auditor Netherland, Sewell…
Doha Insurance posts profits
DOHA: Doha Insurance disclosed its financial statements for the period ending on the 30th of September, 2019. The statements show that the Net profit reached QR 40 million compared to net profit of QR 35.4 million for the same period of the previous year. Earnings per share amounted to QR 0.08 for the period ending…
TGS announces 3D project offshore Argentina
HOUSTON: TGS-NOPEC Geophysical Company has announced a new 3D multi-client project offshore Argentina. The Malvinas 3D survey will cover approximately 7,300 square kilometers of highly prospective Malvinas Basin, which saw spirited interest during Argentina Round 1 earlier this year. The survey will employ one Shearwater vessel, with operations set to commence in Q4 2019 and…
Zalaris posts 8.2% growth in revenues for September quarter
OSLO: Zalaris ASA, the provider of payroll and HR solutions, posted third quarter ended September 30, 2019 revenues of NOK 190.7 million making 2019 the 19th year of uninterrupted growth within reach. Zalaris’ Q3-19 revenues reached NOK 190.7 million an 8.2% increase compared to NOK 176.2 million in the same quarter previous year. In terms…
Solstad enters into contract with INPEX
OSLO: Solstad Offshore ASA has entered into a contract with Inpex Operations Australia Pty for the provision of two anchor handlers to support additional drilling for the Ichthys LNG development. Normand Scorpion and Normand Sirius will be contracted to INPEX for a period of 3 years. The anchor handlers are expected to mobilise out of…
BH Mubasher Financial Services posts profits in Q3
DUBAI: BH Mubasher Financial Services (BHM), a leading brokerage firm in the UAE’s financial market, reported a quarterly profit in the third quarter following an overall company restructuring in May/June 2019 subsequent to the annual general meeting (AGM) held in the second quarter. Dubai-based financial services firm, earlier known as “Al Safwa Mubasher Financial Services”,…
Emirates Integrated Telecommunications announces 3.7% growth in 9-month adjusted net profit
DUBAI, UAE: Emirates Integrated Telecommunications Company (EITC) published its financial results for the nine-month period ended 30 September 2019, reporting revenues of AED 9.4 billion, an EBITDA of AED 4.22 billion and a Net Profit after royalty of AED 1.29 billion. For Q3 2019, EITC reported revenues of AED 3.07 billion, an EBITDA of AED…
Midlands JV created to promote strategic site
LONDON: Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction has entered into a joint venture (JV) to pursue a strategic land opportunity in the Midlands as it continues to grow its long-term land pipeline for new residential and commercial development. Hallam Land Management Limited, a subsidiary of Henry…
Neil appointed Group E-Commerce Director at Science in Sport
LONDON: Science in Sport plc, the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community, has announce the appointment of Neil Tinegate, a highly experienced digital executive, as the Company’s Group E-Commerce Director. Neil has a track record in digital innovation and online sales growth at businesses including Home Retail…
Mycovia announces partnerships to commercialise and manufacture VT-1161
DUBLIN: Mycovia Pharmaceuticals has announced a strategic partnership with Gedeon Richter for the commercialisation and manufacture of VT-1161 for recurrent vulvovaginal candidiasis (RVVC) in Europe, Latin America, Australia, Russia and other CIS countries. This agreement follows the announcement by Mycovia earlier this year of a strategic partnership with Jiangsu Hengrui Medicine to develop and commercialise…
Understanding China conference opens with focus on globalization, multilateralism
GUANGZHOU/Knowledge Bylanes– The fourth Understanding China Conference opened in Guangzhou on Saturday. The conference brings in-depth discussions around the theme of “New Globalization and China’s New Round of Reform and Opening-Up.” About 600 politicians, strategists, scholars, entrepreneurs from 17 countries and regions, as well as representatives of international organizations, participated in the two-day event, according…