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…
Engro Elengy achieves world’s fastest 250 ship-to-ship LNG cargo transfers
KARACHI: Engro Elengy Terminal has achieved yet another milestone of the world’s fastest 250 ship-to-ship transfers of LNG. The Engro Elengy Terminal was a fast-track LNG import solution built to alleviate the energy shortage facing the country. With round-the-clock supply of natural gas at a utilization rate of approximately 98%, the terminal has now handled…
Straits Trading appoints Eric Teng as CEO of Straits Developments
SINGAPORE: The Straits Trading Company Limited announced the appointment of Eric Tengas CEO of Straits Developments Private Limited, a wholly-owned subsidiary of the Group. His appointment will be effective from October 01, 2019. As CEO of Straits Developments, Teng will be responsible for the property business of the Group except for those owned, operated or…
Rosenblatt Group acquires Convex Capital Limited for £22 million
LONDON: Rosenblatt Group plc, the professional services group, has announced the acquisition of Convex Capital Limited, a specialist sell-side M&A corporate finance boutique, based in Manchester, UK. The total consideration for the acquisition, assuming all earn-out and deferred consideration payments are made, is £22 million. The acquisition is in line with the Group’s M&A strategy….
Eco Atlantic makes a second oil discovery offshore Guyana
TORONTO: Eco (Atlantic) Oil & Gas Ltd. has announced second oil discovery on the Orinduik Block, offshore Guyana. The Joe-1 exploration well was drilled by the Stena Forth drillship to a final depth of 7,176 feet (2,175 meters) in approximately 2,546 feet (780 meters) of water. Evaluation of MWD, wireline logging and sampling of the…
SolGold reports helicopter accident in Ecuador
LONDON: SolGold Plc reports that a contracted helicopter operated by AVIOANDES S.A. conducting operations for SolGold on one of SolGold’s regional exploration concessions was involved in an accident Sunday morning, north of the town Salinas, in Imbabura Province of Northern Ecuador, resulting in the death of the pilot and a contractor technician. “The Board, management…
Vaalco Energy intends to list on the main market of the London Stock Exchange
HOUSTON: VAALCO Energy, an independent energy company focused on development and production assets in West Africa, announced its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange (LSE), to complement its existing Listing on the New York Stock Exchange. Cary Bounds, VAALCO’s Chief Executive Officer commented: “Since 2017, our…
Winchester MD plants 230,000 hemp plants in Spain
LONDON: Winchester MD Limited with its JV partner has planted 230,000 hemp plants in June at its 20 Hectare cultivation facility using high quality EU certified seeds. Since this time Winchester has successfully recruited and trained a 50 strong local workforce; implemented a bespoke irrigation system to support the cultivation and constructed and commissioned a…