OLDWICK: Net income of the life insurance and annuity industry in U. S. shrank 18% to $27.6 billion in the first nine months of 2019, compared with the same prior-year period. This financial review is detailed in a new Best’s Special Report, titled, “First Look – 9-Month 2019 Life/Annuity Financial Results,” and the data is…
Signify launches tailor-made 3D printed professional luminaires for a circular economy
AMSTERDAM: Signify, the world leader in lighting, unveiled its facilities to 3D print light shades and fittings (luminaires) in the Netherlands and plans to establish 3D printing factories in the US, and Indonesia. The company has perfected this highly flexible, more sustainable form of manufacturing, using a 100% recyclable polycarbonate material, which allows luminaires to…
Vulcan to form JV with Pfalzwerke geofuture
PERTH: Vulcan Energy Resources Ltd. has signed a Memorandum of Understanding (MoU) with Pfalzwerke geofuture GmbH, part of the German utility Pfalzwerke Group. The MoU constitutes an initial collaboration period, during which Pfalzwerke geofuture will supply live brine and well data from its operational geothermal power plant, for Vulcan to use in its PFS. A…
Virgin Australia acquires Velocity Frequent Flyer
SYDNEY: Virgin Australia Holdings Limited announced the completion of the acquisition of Connectivity Pte Ltd’s (Affinity’s) approximate 35% minority investment in Velocity Frequent Flyer Holdco Pty Limited. As a result, Virgin Australia now has 100% ownership of Velocity Frequent Flyer and the award-winning “Velocity” loyalty program. Virgin Australia Airlines Pty Ltd, commonly referred to as…
Regal Petroleum to acquire UNI
LONDON: Regal Petroleum plc has entered into a Memorandum of Understanding (MoU) for the acquisition of PJSC Science and Production Concern Ukrnaftinvest (UNI), which holds the Belolisky and Alibeysk-Trapivska production licences in Ukraine. The Memorandum is made between the Company and Ms Lidiia Chernysh and Bolaso Investments Limited, who each own 50% of the issued…
Galena appoints Stewart Howe to its board
SUBIACO: Galena Mining Ltd has appointed Stewart Howe as a Non-Executive Director. The appointment of Howe, a mining and chemical engineer with considerable senior management experience in the global lead/zinc industry, has been made as part of Galena’s continuing evolution of its Board to ensure the best available skills are employed as the Abra Base…
Flex LNG enters into a long-term charter with Gunvor
HAMILTON: Flex LNG Ltd. through one of its subsidiaries has entered into a long-term time charter with Clearlake Shipping Pte Ltd, a subsidiary of Gunvor Group Ltd. The period under the time charter is up to ten years where the first five years are firm. The vessel to be employed under this time charter will…
Nexans declares five-month extension for the CSV Polar King
OSLO: Nexans Skagerrak AS, a wholly owned subsidiary of Nexans Norway AS, have today declared a five-month extension for the CSV Polar King, making the charter firm until July 2020. Polar King is a multipurpose subsea vessel specially designed for operation under severe weather conditions with high manoeuvrability and station keeping capabilities. The vessel provides…
US companies reluctant to visit Pakistan due to negative perception: Santella
KARACHI: Agricultural Counselor of United States Department of Agriculture (USDA) Rey Santella has said although they were inviting the US business community but many of them were still reluctant to visit Pakistan mainly due to negative perception and also because of legal and Information Technology related hurdles that need to be addressed. “Pakistan had many…
Euromoney acquires Wealth-X for $20.4 million
LONDON, UK: Euromoney Institutional Investor PLC, the global information business providing essential B2B information to global and specialist markets, announced the acquisition of 100% of Wealth-X Pte. Ltd. Wealth-X is the market-leading provider of data-driven intelligence on the world’s wealthiest individuals. The platform’s proprietary database is embedded in the workflow of banks, wealth managers, luxury…
Catalyst forms joint venture with St Barbara
PERTH: Catalyst Metals Limited’s wholly owned subsidiary, Kite Operations Pty Ltd have entered into an earn-in and joint venture agreement with gold producer St Barbara Limited. Under the agreement, St Barbara may acquire a 50% participating interest in EL006507 (the Drummartin Project) by funding not less than $3.5 million of Project Expenditure within 48 months…
Penelope Winn appointed to Coca-Cola Amatil Board
PETH: Coca-Cola Amatil notified that Ms Penelope Winn will join the Amatil Board as an Independent Non-Executive Director, effective 2 December 2019. Ms Winn is currently a Non-Executive Director of Caltex Australia Limited, CSR Limited, Goodman Limited and Goodman Funds Management Limited. Ms Winn will step down as Chair and Non-Executive Director of Port Waratah…