MANAMA, BAHRAIN: Al Baraka Banking Group BSC (ABG), the leading Islamic banking group with its headquarters in the Kingdom of Bahrain, achieved a net income of US$ 180 million in 2019, while net operating income reached US$ 399 million and total operating income US$ 967 million in the same period. Total assets increased to exceed…
DP World completes acquisition of Fraser Surrey Docks
DUBAI: DP World PLC has announced the acquisition of Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP). MIP is a fund managed by the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group. The purchase consideration is below 2.5% of DP World’s net asset value as of FY20181. The acquisition will be effected through…
Bunzl makes further acquisitions in Brazil and Denmark
LONDON, UK: Bunzl plc, the specialist international distribution and services group, has announced two further acquisitions in Brazil and Denmark. Medcorp, a distributor of healthcare related products based in Sao Paulo, was acquired at the end of January. It is principally engaged in the supply of a broad range of consumable medical products, particularly those…
Japanese music streaming platform enlists Boku to grow subscriber base
LONDON: Boku Inc, an independent carrier commerce company, announced a preferred partnership agreement with AWA Co. Ltd. to allow AWA’s Japanese customers to charge their recurring monthly subscription fees directly to their mobile phone bills via direct carrier billing. Through the agreement, Boku offers direct carrier billing as a payment mechanism available to AWA’s customer…
Frenkel Topping forms joint venture with Horwich Cohen Coghlan
LONDON: Frenkel Topping Limited, the specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, announced its IFA business has established a 50:50 joint venture with Horwich Cohen Coghlan Ltd (HCC), a law firm with a 25 year track record specialising in personal injuries. The joint venture will be named HCC…
InnovaDerma launches Nuthing, a new range of products for hair removal
LONDON: InnovaDerma Plc, a UK developer of beauty/personal care and life science products, has announced the launch of Nuthing, a new brand and category in hair removal. Nuthing will initially be exclusively stocked in all of c.800 Superdrug stores from 11th March as well as being sold online and via the Company’s own DTC platform…
Al Salam Bank offers property financing for The Courtyard at Seef
MANAMA, BAHRAIN: Al Salam Bank-Bahrain, the pioneering Shari’a-compliant Bank in the Kingdom, is offering competitive property financing options for customers looking to purchase apartments in The Courtyard at Seef. The stylish urban development, which is connected to a popular shopping center, offers three types of one-bedroom apartment as well as a two bedroom option. Al…
Clinuvel Pharmaceuticals expands its facilities in Singapore
MELBOURNE: Clinuvel Pharmaceuticals is investing in the further expansion of its facilities in Singapore with new state of the art and expanded laboratories to open 1 July 2020. The research and development capacity of its wholly owned subsidiary, Vallaurix Pte Ltd, will be expanded through both a new biological and analytical laboratory, which will work…
Andrew Arapakis appointed CEO of Environmental Group Limited
SYDNEY: The Board of the Environmental Group Limited (EGL) announced the appointment of Andrew Arapakis as CEO of the Company effective as at 6th April 2020. Arapakis has held senior leadership positions for over 25 years across a variety of engineering, industrial and environmental service enterprises. He was most recently a member of the Executive Leadership…
International energy services group Hunting PLC acquires Enpro Subsea Limited
LONDON: Hunting PLC, the international energy services group, has completed the acquisition of Enpro Subsea Limited for a total consideration of US$33.0 million payable on completion, plus a potential maximum earn out of US$3.0 million based on EBITDA performance in 2020. The consideration payable is on a cash-free-debt-free basis and payable in cash and has…
Halma acquires Maxtec for $20 million
LONDON: Halma Plc, the leading safety, health and environmental technology group, has announced that it has acquired Maxtec, LLC, which is based in Utah, USA. The cash consideration for Maxtec is US$20 million (£15.3 million3), on a cash and debt free basis, which will be funded from Halma’s existing facilities. Maxtec is a leader in…
Well-supplied global LNG market sees demand build for cleaner-burning energy
SINGAPORE: Global demand for liquefied natural gas (LNG) grew by 12.5% to 359 million tonnes in 2019, according to Shell’s latest annual LNG Outlook published today – a significant increase that bolsters LNG’s growing role in the transition to a lower-carbon energy system. 2019 saw key developments that are helping to reshape the industry, namely;…