LONDON, UK: Prax Exploration & Production PLC has reached an agreement to acquire entire issued and to be issued ordinary share capital of Hurricane Energy Plc by means of a court-sanctioned scheme of arrangement. Under the terms of the acquisition, which will be subject to the Conditions and further terms set out in Appendix I…
Goodbody Health launches mobile phlebotomy service
LONDON, UK: Goodbody Health (AQSE: GDBY) announced the expansion of services through partnerships and the launch of its new mobile phlebotomy service to develop and increase the reach of the phlebotomy services that Goodbody is able to offer. This allows testing to be undertaken in the patients home or other convenient location and meets the…
Dubai Islamic Bank shareholders approve 30% dividend for 2022
DUBAI, UAE: Dubai Islamic Bank (DIB) concluded its Annual General Assembly (AGM) with the approval of the bank’s 2022 financial statements and other tabled resolutions, demonstrating the confidence of the shareholders in the bank’s Board and management’s strategic agenda for the coming years. The strong financial results reported this year are a further testament to…
Tinybeans launches new interactive Investor Hub
SYDNEY, AUSTRALIA: Tinybeans Group (ASX: TNY) announced the launch of the company’s new interactive Investor Hub. For both existing and prospective shareholders, the new Tinybeans Investor Hub hosts the latest company announcements, reports, and presentations. It also provides an interactive online experience allowing the Tinybeans investor community to comment on and ask the Tinybeans team…
Copper Mountain Mining appoints Patrick Merrin as President and CEO
VANCOUVER, BC: Copper Mountain Mining Corporation announced the appointment of Patrick Merrin as President and CEO effective April 24, 2023. Mr. Merrin has extensive experience in the mining industry including ten years of senior executive operational and technical experience. Mr. Merrin’s leadership positions focused on North American mines and projects, including most recently acting Senior…
T-Mobile will acquire Ka’ena Corp, owner of Mint Mobile, for $1.35 billion
T-Mobile US Inc would buy Ka’ena Corp, the owner of Ryan Reynolds-backed budget service provider Mint Mobile, for up to $1.35 billion. T-Mobile expects the deal to close later this year and doesn’t anticipate any changes to its 2023 financial outlook. Mint Mobile will be “slightly accretive’ to adjusted earnings before interest, taxes, depreciation and…
U.K. economy would no longer enter a technical recession in 2023: Jeremy Hunt
Finance Minister Jeremy Hunt said that the U.K. economy would no longer enter a technical recession in 2023, as was previously anticipated. The updated outlook was based on new forecasts from the independent Office for Budget Responsibility (OBR), Hunt said. A technical recession is a term used to describe a situation where an economy experiences…
Meezan Bank & Fieldfisher Capital join hands to provide Islamic Finance Advisory to Europe & Middle East
KARACHI: Meezan Bank, Pakistan’s leading Islamic Bank, has recently signed a Memorandum of Understanding (MoU) with Fieldfisher Capital LLP (FFC) – a multi-disciplinary advisory service, under which both parties will collaborate to provide Shariah advisory services to international clients including, but not limited, to Europe and the Middle East. The signing ceremony took place at…
Shell Pakistan announces financial results for 2022
KARACHI: Board of Directors of Shell Pakistan Limited (SPL) announced the company’s financial results for the year ended December 31st, 2022. The company posted a loss after tax of PKR 72 million for 2022 compared to the profit of PKR 4.467 billion in 2021. During the year, SPL continued its focus on business principles, safety…
Profit repatriation from Pakistan declines to all-time low at $2.9mn per month
KARACHI: Profit repatriation out of Pakistan has declined from average $135 million/month during FY22 to $30 million/month during 7MFY23 (July-January 2022-23) over efforts to contain SBP foreign exchange reserves. In January 2023 alone, repatriation declined to all-time low at $2.9 million. With all efforts to improve State Bank of Pakistan’s (SBP) foreign exchange reserves position,…
Pakistan’s Large Scale Manufacturing Industries (LSMI) output increased 1.5%
Pakistan’s Large Scale Manufacturing Industries (LSMI) output increased 1.5% on MoM basis while down 7.9% YoY during Jan’23, according to data released by Bureau of Statistics. LSMI Index stood at 126.9 during Jan’23; 115.5 during 7MFY23 (7MFY22: 120.8). With this, during 7MFY23, LSMI posted a decline of 4.4% YoY. Measures taken by the monetary and…
Capital for Colleagues makes investment in Morris Commercial Ltd.
LONDON, UK: Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (EOB) sector, has successfully led an investment of £8.0 million into a substantial investment round by a new portfolio company, Morris Commercial Ltd. Morris Commercial is a UK-based automotive engineering and manufacturing start-up, focused on innovation and the creation…