SINGAPORE: Singapore Exchange (SGX) Monday launched methanol futures and swap contracts to help methanol producers, traders and downstream users manage risk and improve price discovery amid rising demand. The new contracts are cash settled in reference to the S&P Global Platts daily price assessment for methanol. The SGX Platts Methanol CFR China Swap and the…
EMMAC launches UK’s first operational distance medical cannabis pharmacy, Medican
LONDON: EMMAC Life Sciences Group, Europe’s leading independent cannabis company, announced the launch of Medican, the UK’s first operational distance pharmacy dedicated to fulfilling medical cannabis prescriptions. It is a division of EMMAC’s wholly owned subsidiary, Rokshaw Limited, a leading UK EU-GMP certified Specials manufacturer. Medican has already processed more than 100 cannabis product prescriptions…
AstraZeneca to sublicense global Movantik rights to RedHill Biopharma
LONDON: AstraZeneca Plc has agreed to sublicense its global rights to Movantik (naloxegol), excluding Europe, Canada and Israel, to RedHill Biopharma (RedHill). RedHill will make an upfront payment of $52.5 million to AstraZeneca on closing and a further non-contingent payment of $15 million in 2021. Movantik is a peripherally acting mu-opioid receptor antagonist (PAMORA) indicated…
Tesco to sell 20% share in Gain Land for £275 million
LONDON: Tesco PLC has announced the sale of its 20% share in Gain Land to a subsidiary of its joint venture partner, China Resources Holdings (CRH). Gain Land is the Chinese joint venture with CRH that was established in 2014. The disposal will result in net cash proceeds to Tesco of £275 million which will…
Net Income of Al Baraka Banking Group reaches US$ 180 million in 2019
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…