PARIS–(BUSINESS WIRE)– Total, the Republic of Benin and the Société Béninoise d’Energie Electrique (SBEE) have signed the Gas Supply Agreement and the Host Government Agreement for the development of LNG market, which will include a Liquefied Natural Gas (LNG) import floating terminal and the supply of up to 0.5 million tonnes per annum (Mtpa) of…
redT Energy proposes merger with Avalon Battery
LONDON: redT energy plc, the energy storage company, is pleased to announce that it has agreed to outline terms for a proposed merger with Avalon Battery Corporation. The parties have signed a non-binding Memorandum of Understanding (MOU) and have plans for the injection of significant new funding as outlined further below. The merger, if approved…
Sberbank & Mail.ru to build food and transportation O2O
MOSCOW – Sberbank and Mail.ru Group plan to create a leading Russian O2O (online-to-offline) services platform focused on major consumer markets, the key areas of food and transportation. Sberbank and Mail.ru Group plan to invest up to RUB 64 billion in the JV on the condition that key performance indicators are achieved over the 12-month…
Intelligent Ultrasound collaborates with National Imaging Academy Wales
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…