AUCKLAND, NZ: New Zealand Oil & Gas Limited (NZO) has executed a binding Farm Out Agreement (FOA) with Triangle Energy (Global) Ltd (Triangle) (ASX: TEG), to acquire a 25% participating interest in the L7 Production License (L7) and the EP 437 Exploration Permit (EP 437) (together, the Permits). NZO has completed all confirmatory due diligence,…
Interest payments on fixed-term mortgages to soar by 55% in UK
Average interest payments on fixed-term mortgages are set to soar by 55% this year to £500 a month, which would exacerbate the cost-of-living crisis in United Kingdom. And the average cost for fixed-term holders is set to more than double from £322 at the end of last year to £701 a month by 2027, analysis…
UBS has agreed to takeover Credit Suisse
UBS has agreed to buy Credit Suisse. “With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation,” read a statement from the Swiss National Bank, which pledged a loan of up to 100 billion ($108 billion) Swiss francs to…
Pakistan direly needs a carbon exchange bank
HUB, PAKISTAN: A Carbon Exchange Bank to deposit the carbon credits, the industries earn, is a dire need for Pakistan, said Mr. Ismail Suttar, President of Lasbela Chamber of Commerce and Industry while addressing the Workshop on “Towards Zero Emissions: Sustainable Industry and Climate Action”. The Lasbela Chamber and WWF Pakistan jointly organized the workshop….
Ripple: The Fast and Reliable Solution for Cross-Border Payments
In the world of international money transfers, Ripple has emerged as a game-changing technology. Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc. Its goal is to facilitate secure, fast, and low-cost international money transfers, as well as payments and currency exchanges. One of the key benefits…
UK to end pre-departure COVID-19 test rule for arrivals from China
LONDON: The British government said it would end the requirement for people flying from mainland China to England to provide proof of a negative pre-departure COVID-19 test from April 5. From Friday (Mar 17), the UK Health Security Agency’s voluntary, on-arrival testing programme of travellers arriving from China to London’s Heathrow airport will also end,…
Pakistan tax authorities discover Rs70 billion worth of trade-based money laundering by solar panels importers
KARACHI: Pakistan’s tax authority has made a landmark detection of Rs70 billion on account of over-invoicing and trade-based money laundering by solar panels importers. Federal Board of Revenue (FBR) carried out sector-based audit of solar penal importers to check twin aspects of over-invoicing and trade based money laundering (TBML). State Bank of Pakistan also recently…
Sanofi cuts U.S. list price of Lantus, its most-prescribed insulin, by 78%
PARIS, FRANCE: Sanofi announces that it will cut the list price of Lantus (insulin glargine injection) 100 Units/mL, its most widely prescribed insulin in the U.S., by 78 percent. The company also will establish a $35 cap on out-of-pocket costs for Lantus for all patients with commercial insurance, underscoring its longstanding commitment to offer affordable…
Thomas Berge appointed Chief Executive Officer at LINK Mobility Group
OSLO, NORWAY: Thomas Berge has been appointed Chief Executive Officer (CEO) at LINK Mobility Group Holding ASA (LINK). Berge has since May 2022 acted as Interim CEO at LINK and before that as CFO at LINK since September 2016. He has also previously acted as Interim CEO at LINK. Following a diligent process, the Board…
Link Group will sell its Banking & Credit Management business to LC Financial for €30mn
SYDNEY, AUSTRALIA: Link Group (ASX: LNK) has entered into a Share Purchase Agreement with LC Financial Holdings Limited (LCFH) for the sale of its Banking & Credit Management (BCM) business for cash consideration of up to €30 million. Link Group will receive €20 million cash consideration at completion plus deferred cash consideration of €5 million…
Close the Loop to acquire ISP Tek Services and Captive Trade Corp. for $66 million
SYDNEY, AUSTRALIA: Close the Loop Limited has entered into an agreement to acquire 100% of ISP Tek Services LLC and Captive Trade Corp., US-based electronics refurbisher and trading platform businesses based in Southlake, Texas, USA, for a total consideration of up to US$66 million (A$99.7m). The acquisition will provide the Company with significant consumer and…
British government ministers barred from using TikTok on security grounds.
British government ministers have been banned from using social media app TikTok on their work phones and devices on security grounds. The government fears sensitive data held on official phones could be accessed by the Chinese government, BBC reported. Cabinet Minister Oliver Dowden said the ban was a precautionary move but would come into effect…