OLDWICK: AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Petroleum Marketers Management Insurance Company. The outlook of these Credit Ratings has been revised to stable from positive. The ratings reflect PMMIC’s balance sheet strength, which AM Best categorizes…
Global IoT enterprise drone shipments to grow 50% in 2020
EGHAM, UK: In 2020, worldwide shipments of Internet of Things (IoT) enterprise drones (flying drones) will total 526,000 units, an increase of 50% from 2019, according to Gartner, Inc. Global shipments are forecast to reach 1.3 million units by 2023. “The construction sector is an early adopter of drones, which causes construction monitoring to be…
EnQuest awarded block offshore Malaysia
LONDON: EnQuest PLC, an independent oil and gas production and development company, is awarded the Block PM409 Production Sharing Contract (PSC) in partnership with PETRONAS Carigali Sdn Bhd (PCSB) by PETRONAS. Under the terms of the PSC, EnQuest will operate the block with a participating interest of 85.0%, with PCSB owning the remaining 15.0%. Block…
Vodafone collaborating with Amazon to make AWS Wavelength available in Europe
LONDON: Vodafone Business, one of the world’s leading telecoms and technology service providers, is collaborating with Amazon Web Services (AWS) to make AWS Wavelength available in Europe. AWS Wavelength provides developers the ability to build applications that serve end users with single-digit millisecond latencies over the 5G network. AWS Wavelength embeds AWS compute and storage…
Quorum acquires Moorfield Nanotechnology for £2.3 million
LONDON, UK: Judges Scientific’s wholly owned subsidiary Quorum Technologies Limited has acquired 100% of the issued share capital of Moorfield Nanotechnology Limited, a maker of coating instruments based in Knutsford, Cheshire. The Board expects the acquisition to be immediately earnings enhancing. The purchase price of Moorfield, paid in cash at completion, amounts to £2.3 million….
Total and Mitsui sign long-term charter contract for another large LNG bunker vessel
PARIS, FRANCE: Total Marine Fuels Global Solutions (TMFGS) and Mitsui O.S.K. Lines, Ltd. (MOL) have signed a long-term charter contract for a second large LNG bunker vessel, to be delivered in 2021. She will be positioned in the Marseille-Fos area in France. This bunker vessel will be built by Hudong-Zhonghua Shipbuilding in China. She will…
QBID becomes official partner of new China e-commerce platform, WMall
SYDNEY, AUSTRALIA: Artificial Intelligence (AI) and e-Commerce marketing company RooLife Group Ltd announced its newly acquired digital marketing company Quality Brands International Direct (QBID), has been appointed an official partner and supplier for new China e-Commerce platform WMall. WMall is an e-Commerce platform which connects western brands to China’s powerful Daigou shopping network. It is…
FinTech application shows potential to achieve cost saving efficiencies
HONG KONG: Credit Intelligence Limited announced that the smart phone application launched earlier this year by its operating subsidiary Hong Kong Debt Management Services (HKDMS) is demonstrating cost saving efficiencies and an improved experience. The application provides for an ability for s to discreetly book appointments online, overcoming potential stigmas and hurdles associated with addressing…
Quantum Graphite signs MoU with Iron Road Limited to use Cape Hardy
MELBOURNE, AUSTRALIA: Quantum Graphite Limited (QGL) has entered into a Memorandum of Understanding (MOU) with Iron Road Limited (IRD) in connection with the company’s interest in the utilisation of the proposed Cape Hardy port facility as a logistics solution for the export of its natural flake graphite production from its Uley 2 mine. At a…
Astellas enters into agreement to acquire Audentes Therapeutics
TOKYO: Astellas Pharma Inc. and Audentes Therapeutics Inc. have entered into a definitive agreement for Astellas to acquire Audentes at a price of US$60.00per share in cash, representing a total equity value of approximately US$3 billion. “Recent scientific and technological advances in genetic medicine have advanced the potential to deliver unprecedented and sustained value to…
Odfjell SE forms new partnership with Navig8 Chemical Tankers
OSLO, NORWAY: Odfjell SE, one of the leading players in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids, has reached an agreement with Navig8 Chemical Tankers Inc, where the latter will add 4 modern 25,000 dwt stainless steel chemical tankers to Odfjell’s existing pool, the Chempool25. Following delivery…
Danakali Limited signs $50mn strategic investment from AFC
LONDON: Danakali Limited has entered into a subscription agreement with Africa Finance Corporation (AFC) for a placement of fully paid ordinary shares to raise US$50 million. The Placement will be part of the overall funding package used for the development and construction of the Colluli Sulphate of Potash Project (Colluli or the Project) in the…