LONDON: TP Group has been awarded a contract worth approximately £1.7million by its German partner, Roda Computer GmbH, for the provision of a suite of bespoke military rugged computer servers and display units. The systems will be used for deployed military applications by a European defence force. The equipment will be produced by the TP…
Halma Plc acquires NovaBone and FireMate Software
LONDON: Halma Plc, a global group of life-saving technology companies, has announced acquisitions of NovaBone Products, LLC and FireMate Software Pty. Ltd. for its Medical and Infrastructure Safety sectors, respectively. Halma acquired NovaBone Products, LLC, a designer and manufacturer of US FDA-approved synthetic bone graft products, based in Florida, USA. NovaBone’s products are used to…
Nestlé expands medical nutrition business with the acquisition of Zenpep
VEVEY, SWITZERLAND: Nestlé S.A has entered into an asset purchase agreement with Allergan to acquire the gastrointestinal medication Zenpep, to expand the company’s medical nutrition business and complement its portfolio of therapeutic products. Zenpep, available in the United States, is a medication for people who cannot digest food properly because their pancreas does not provide…
Emirates NBD posts net profit if AED 14.5bn in 2019
DUBAI: Emirates NBD, a leading bank in the region, has posted 44% growth in net profit to AED 14.5 billion for the year ended December 31, 2019 Net interest income increased 26% due to loan growth and non-interest income grew 38% due to higher foreign exchange and credit card related income. Core operating profit grew…
Emirates Islamic’s net profit surpasses AED 1.0bn mark for the first time
DUBAI: Emirates Islamic (EIB), one of the leading Islamic financial institutions in the UAE, has reported a strong set of results with net profit of AED 1.061 billion for the year ended December 31, 2019, surpassing the one billion dirham mark for the first time. Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, Vice Chairman…
Kuwait’s Enertech and Germany’s P&G Energy setting up solar power plants in Pakistan
GWADAR, PAKISTAN: P&G Energy (Private) Limited, a subsidiary of ib Vogt GmbH Germany, and Enertech Boston Solar (Private) Limited, a subsidiary of Kuwait based Enertech Holding Company Limited have obtained generation licenses from Pakistan’s power sector regulator for their power plants being setup in Baluchistan province having a cumulative electricity generation capacity of 112.2 MW…
Helen of Troy completes acquisition of Drybar Products
EL PASO: Helen of Troy Limited, a global consumer products company, has completed acquisition of Drybar Products LLC, for approximately $255 million in cash, subject to certain customary closing adjustments. The purchase price implies a pre-synergy multiple of less than 13x estimated calendar year 2019 adjusted EBITDA. Drybar is a fast-growing, innovative, trendsetting prestige hair…
Pauline Blight-Johnston appointed CEO and MD of Genworth Mortgage Insurance Australia
SYDNEY: Genworth Mortgage Insurance Australia Limited announced that Ms. Pauline Blight-Johnston has been appointed Chief Executive Officer and Managing Director; her appointment will take effect on Monday, 2 March 2020. Ms. Blight-Johnston takes over from Mr. Duncan West who was appointed acting CEO effective 1 January 2020. Mr. West will continue to serve as an…
Bisalloy signs Q&T steel products supply agreement with Leong Jin
SYDNEY: Bisalloy Steel Pty Ltd has announced the signing of a supply agreement with Leong Jin (Changzhou) Special Steel Co. Ltd through which a broader range of premium wear and structural Q&T steel products will be supplied exclusively to the Australian market to service growing customer demands and enter new market segments. Bisalloy has undertaken…
Kate Munnings appointed Group CEO of Virtus Health Limited
NEW SOUTH WALES: The Board of Virtus Health Limited announced that Ms Kate Munnings will commence as Group Chief Executive Officer of Virtus Health Limited on 4 May, 2020. Sonia Petering, Chair of Virtus Health Limited said, “Kate brings a depth of professional experience, most recently as Chief Operating Officer with Ramsay Health Care Limited’s…
Mobile wallet Huawei Pay launched in Pakistan
ISLAMABAD: Huawei, in cooperation with UnionPay International and National Bank of Pakistan, has launched its mobile wallet service Huawei Pay in Pakistan, making it the 4th market where Huawei Pay has been made available, following China, Russia and Hong Kong, a statement said on Thursday. “Today, Huawei Pay has come to Pakistan marking an important…
Gerald Grimes to join Together Financial Services as Group CEO
LONDON: Together Financial Services Limited, one of the UK’s leading specialist mortgage and secured loan providers, announced that Gerald Grimes is to join the business as Group CEO Designate and be appointed to the Group Board as an Executive Director, effective from the 6th April 2020. Gerald Grimes has over 30 years of financial services…