LONDON: Genus plc, an animal genetics company, announced that Stephen Wilson, currently Group Finance Director, has been appointed by the Board as Chief Executive with effect from the close of business on 13 September 2019. This follows the announcement of 25 March 2019 that Karim Bitar will be stepping down from the Board and taking…
DP World’s earnings grow by 27% in first half of 2019
DUBAI, UAE: Global trade enabler DP World PLC announced strong financial results for the six months to 30 June 2019 with reported adjusted EBITDA and attributable earnings growth of 21.9% and 26.8% respectively. DP World posted revenue of $3.463 billion, a growth of 31.9% supported by acquisitions and growth in non-containerized revenue. Adjusted EBITDA grew…
Metalloinvest signs agreement with 12 banks for receiving ECA backed financing
MOSCOW: Metalloinvest Finance, a leading global iron ore and HBI producer and supplier and one of the regional producers of high-quality steel, announced the signing of a framework agreement with 12 banks for executing deals under ECA backed financing, a release issued to London Stock Exchange noted. In line with Metalloinvest’s Debt Management Strategy, the…
Nokia appoints Gabriela Sjöman as Chief Strategy Officer, member Group Leadership Team
FINLAND: Nokia Corporation has appointed Gabriela Styf Sjöman as Chief Strategy Officer and member of the Group Leadership team, effective December 1, 2019. Gabriela will be based in Espoo, Finland and will report to President and Chief Executive Officer, Rajeev Suri. Gabriela succeeds Kathrin Buvac as Chief Strategy Officer, who continues in the role of…
Liberty Mutual Insurance finalizes sale of Pembroke and Ironshore Europe businesses to Hamilton
HAMILTON: Hamilton Insurance Group has completed its acquisition of Pembroke Managing Agency Limited and its platform at Lloyd’s, as well as Dublin-based carrier, Ironshore Europe DAC from Liberty Mutual Group Inc. The transaction, which follows the signing of a definitive agreement on March 14, 2019 between Hamilton and Liberty, closed after the receipt of necessary…
Experian Plc acquires Look Who’s Charging
LONDON: Experian, the global information services company, has acquired Look Who’s Charging Pty Ltd (LWC). LWC is the leading provider of transaction enrichment and categorisation technology to banks in Australia. LWC’s service is used to make banking smoother and more straightforward for bank customers. LWC’s data is integrated directly into a bank’s digital platforms providing…
Regional REIT acquires substantial portfolio for £25.9mn
LONDON: Regional REIT, the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, has acquired a portfolio of six office assets for a total consideration of £25.9 million. The portfolio comprises six offices located in Birmingham, Bristol, Cardiff, Chester,…
Asiamet signs MoU with China Nonferrous Metals for the BKM Copper project
LONDON: Asiamet Resources Limited has signed a Memorandum of Understanding (MoU) with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (China NFC), a subsidiary of China Nonferrous Metal Mining (Group) Co., Ltd. for value engineering and Engineering, Procurement and Construction Management (EPCM) Services for the BKM Copper project located in Central Kalimantan, Indonesia….
Singtel Group prices US$750 million 10-year notes at 2.375%
SINGAPORE: Singtel announced that its wholly-owned subsidiary, Singtel Group Treasury Pte. Ltd. (SGT), has priced US$750 million of 10-year notes guaranteed by Singtel. The issue of notes attracted strong demand from a wide range of high quality investors. The order book closed after receiving interest of approximately US$2.7 billion and was 3.6 times oversubscribed by…
Sumitomo Life Insurance acquires AIARU Small Amount & Short Term Insurance Co
TOKYO: Sumitomo Life Insurance Company has acquired AIARU Small Amount & Short Term Insurance Co., as a subsidiary through a stock purchase on August 21, 2019, Customnews.pk reported. AIARU is a small-amount and short-term insurance company that flexibly develops and sells products in response to specific market needs. AIARU has developed a variety of unique…
Blackbird and Google Cloud collaborate at IBC 2019
SAN FRANCISCO: Blackbird plc, the developer and seller of the market-leading cloud video platform Blackbird, will participate in the Google Cloud Partner Pavilion at IBC 2019, a press release noted. Blackbird will demonstrate its cloud video platform to visitors at the Google Cloud Partner Pavilion during the IBC conference and exhibition in Amsterdam – one…
Qatar Petroleum signs 5-year condensate feedstock sale to ExxonMobil
SINGAPORE: Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has recently concluded a 5-year sale agreement with ExxonMobil Trading Asia Pacific Pte. Ltd. (EXTAP), a division of ExxonMobil Asia Pacific Pte. Ltd. based in Singapore. Under the agreement, QPSPP will supply ExxonMobil’s Singapore Integrated Manufacturing Complex with a total of 6 million barrels…