LONDON: One Media iP Group, the digital media content provider that exploits intellectual property rights around music, video and copyright technology, has acquired the entire music catalogue to date of American composer and solo piano artist Philip Wesley, for a total cash consideration of US $4.15m, satisfied upon full execution of the agreement. An additional…
Velocys secures order for biorefinery licence in Japan
TOKYO: Velocys plc has secured a purchase order and technical service agreements with Toyo Engineering Corporation for the use of Velocys technology in a publicly funded demonstration facility in Nagoya, Japan, as well as an advanced deposit for the use of the Velocys technology by Toyo in a subsequent commercial plant. Toyo has placed an…
Diversified Gas & Oil acquires assets from EdgeMarc Energy Holdings
BIRMINGHAM: Diversified Gas & Oil, the U.S. based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets, has completed the purchase of certain assets from EdgeMarc Energy Holdings, LLC, and certain of its subsidiaries. The consideration for the acquisition was $50 million funded from existing debt facilities,…
Spectrics agrees to sell BTG Group for €319 million
LONDON: Spectris plc, the productivity-enhancing instrumentation and controls company, has agreed with Voith GmbH & Co. KGaA for Voith to acquire BTG Group from Spectris for a total gross cash consideration of €319 million. The sale is in line with Spectris’ strategy to simplify and focus our portfolio and to concentrate on developing presence in…
Standard & Poor’s BBB rating for SATO Corporation
HELSINKI: SATO Corporation has obtained a BBB rating with a stable outlook from rater Standard & Poor’s. At the same, SATO has decided to end the cooperation with its previous rater Moody’s. SATO is one of Finland’s leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer…
Inzone Garland Qishi Culture Hotel officially commences operations
SINGAPORE: Imperium Crown Limited announced that the hotel at the Wonder Stone Park has successfully held its opening ceremony on 17 September 2019 to officially commence operations. Operating under the “Inzone” brand, the hotel is managed by the Inzone Hotels & Resorts Group. Inzone Hotels & Resorts Group currently manages over 300 hotels and is…
Pakistan to privatise state owned insurance company
ISLAMABAD: Pakistan government has announced inclusion of State Life Insurance Corporation (SLIC) as well as Islamabad Electric Supply Company (IESCO) and part of Lahore Electric Supply Company (LESCO) in active list of privatisation programme. Total statutory fund of State Life Insurance Corporation (SLIC) stands at Rs.707.388 billion in 2017. The Investment Portfolio of State Life…
Samer Edmond Chedid appointed CEO of Nestlé Pakistan
KARACHI: Nestlé Pakistan announced a change in its top management with the appointment of Samer Edmond Chedid as the new Managing Director in the country. He took over the responsibilities of Managing Director and CEO of Nestlé Pakistan on August 1 after the departure of Ms Freda Duplan. Samer Edmond Chedid is an accomplished and top…
Qatar Stock Exchange organizes investor relations training course for listed companies
DOHA, QATAR: Qatar Stock Exchange (QSE), in association with Maroon Capital, today started a three-day Investor Relations (IR) training program in Doha with the expert input of the UK IR Society, which delivers their program on global basis having highly qualified and reputable trainers. The training program, which was held at the JW Marriott with…
ExxonMobil signs deal with UGDC for Pakistan’s first ever commercial import of LNG
HOUSTON: ExxonMobil has inked a gas supply deal with Pakistan’s energy company Universal Gas Distribution Company (UGDC), according to which commercial import of LNG by private sector would commence for the first time. “The first shipment of LNG is expected by the next month which will change the entire gas landscape in Pakistan,” CEO of…
Surplus lines insurers achieve impressive growth, improve operating profitability
NEW YORK: The surplus lines market nearly doubled its pace of premium growth in 2018, driven by new investments in operating platforms and a healthy U.S. economy, according to a new AM Best report. The Best’s Market Segment Report, “Surplus Lines Insurers Achieve Impressive Growth, Improve Operating Profitability,” notes that this specialty insurance segment grew…
IHIG and PIA partner to promote tourism in Pakistan
KARACHI: International Hospitality Investment Group (IHIG), with a $118 million investment plan in country’s hospitality industry, signed a Memorandum Pakistan International Airlines (PIA) to promote tourism. PIA CEO Air Marshal Arshad Mahmood Malik, Chairman IHIG-UK Alun Richards, signed the MOU at PIA Head Office on Tuesday. Through this alliance, all business and economy executive class…