LONDON: Intelligent Ultrasound Group, the artificial intelligence (AI) based ultrasound software and simulation company, has entered into a collaboration with the National Imaging Academy Wales (NIAW) to develop artificial intelligence (AI) tools to aid ultrasound scanning and to enhance ultrasound education. Both located in South Wales, National Imaging Academy Wales and Intelligent Ultrasound share a…
Hikma and Richter sign agreement for cariprazine
LONDON: Hikma Pharmaceuticals, the multinational pharmaceutical company, and Gedeon Richter PLC announced the signing of an exclusive license agreement to commercialise cariprazine, a novel antipsychotic, in certain Middle East and North African (MENA) markets. Under the terms of the agreement, Richter will be responsible for product supply and Hikma will proceed with the registration and…
GoCo Group plc acquires energy savings service Look After My Bills
LONDON: GoCo Group plc has acquired This Is The Big Deal Limited (trading as Look After My Bills). Total consideration is comprised of £6.0 million upfront, financed through the Group’s existing resources, plus £2.5 million deferred consideration, plus up to a further £4.0 million performance based earn-out, leading to a maximum potential consideration of £12.5…
Bidco Limited agrees to buy Cobham Plc for £4.0 billion
LONDON: The boards of Bidco Limited and Cobham Plc have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Cobham by Bidco. The Acquisition is to be effected by means of a scheme of arrangement. The acquisition values the entire issued and…
LNG tanker Vladimir Rusanov opens the Northern Sea Route
MOSCOW: PAO NOVATEK has announced today that the Arc7 ice-class LNG tanker “Vladimir Rusanov” completed the Northern Sea Route (NSR) passage via the Eastern direction, and delivered a cargo of LNG produced by the Company’s Yamal LNG project from the port of Sabetta to the port of Tianjin, located in China. LNG tanker Vladimir Rusanov…
AM Best affirms credit ratings of New York Life Insurance, subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aaa” of New York Life Insurance Company and its wholly owned subsidiary, New York Life Insurance and Annuity Corporation (collectively referred to as New York Life). Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term…
OGDC makes oil and gas discovery in Sindh
KARACHI, PAKISTAN: Oil & Gas Development Company Limited (OGDCL), operator of Bitrism Block has announced oil and gas discovery from its exploratory well Pandhi # 01, which is located in District Sagnhar, Sindh. The well has tested 9.12 Million Cubic Feet per Day (MMCFD) of gas and 520 Barrels per day of oil through choke…
Pak Suzuki posts loss in 2Q 2019
KARACHI: Pak Suzuki Motor Company (PSMC) announced its 2QCY19 ended June 30, 2019 financial results wherein the company booked net loss of Rs545 million translating into loss per share (LPS) of Rs6.62 versus profit after tax of Rs394 million and earning per share (EPS) of Rs4.78 registered during the same quarter last year. Earnings arrived better…
Habib bank posts 78% decline in profits
KARACHI: Habib Bank Limited (HBL) unveiled its 2QCY19 ended June 30, 2019 consolidated net earnings at Rs750 million translating into earning per share (EPS) of Rs0.44 versus Rs3.44 billion EPS Rs2.29 recorded during the corresponding quarter of last year, depicting a significant fall of 78% YoY in profitability. The earnings arrived well below market expectations…
TechnipFMC awarded a major contract for Arctic LNG 2 project in West Siberia
HOUSTON: TechnipFMC has been awarded a major Engineering, Procurement and Construction (EPC) contract by Novatek and its partners for the Arctic LNG 2 project located in the Gydan peninsula in West Siberia, Russia. This development will consist of three liquefied natural gas (LNG) trains, each with a capacity of 6.6 Mtpa, which will be installed…
IMImobile announces proposed acquisition of 3CInteractive Corp
LONDON: IMImobile, a global cloud communications software and solutions provider, has conditionally agreed to acquire the entire issued and to be issued share capital of 3C Interactive Corp. (3C), a private US cloud-based multichannel, customer engagement platform company with a leading position in Rich Communication Services (RCS), on a debt-free, cash-free, basis for a total…
Cora Gold granted 100% ownership of Tagan Permit in southern Mali
LONDON: Cora Gold has been awarded 100% ownership of the 82km2 Tagan Permit located along the Yanfolila Gold Belt in southern Mali. The newly awarded permit area overlies what is considered to be the most prospective area of a previous permit held by Cora Gold which expired in June 2017. The Tagan Permit lies approximately…