LONDON, UK: Renalytix AI plc, a developer of artificial intelligence-enabled diagnostics for kidney disease, announced the expansion of its leadership team with the appointment of diagnostic industry leader Thomas McLain as President and Chief Commercial Officer, effective immediately. In this non-Board role, McLain will be responsible for leading the commercial programme for KidneyIntelX™ with a…
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Gazprom completes sale of 2.93 stakes
MOSCOW: Gazprom Gerosgaz Holdings and Rosingaz Limited (Cyprus), wholly-owned subsidiaries of Gazprom, have successfully completed the sale of 693.627 million ordinary shares of Gazprom. The shares representing 2.93 percent of the charter capital were sold via collecting and accepting bids for the purchase of the shares using trading platform of Moscow Exchange. Gazprombank (Joint Stock…
Amreli Steels Limited caught mis-declaring imported goods to evade duty and taxes
KARACHI: Pakistan Customs has detected gross mis-declaration of imported goods by Amreli Steels Limited, which would have caused a significant revenue loss if went undetected, Customnews.pk reported. Amreli Steels Limited was incorporated in 1984 as a private limited company and converted into a public unquoted company in 2009. The Company is mainly engaged in manufacture…
Rakuten to establish company for banking operations in the United States
TOKYO, JAPAN: Rakuten Card Co., a wholly owned subsidiary of Rakuten Inc. has resolved to establish a company titled Rakuten Bank America to commence a banking operation in the United States, with an investment of USD 400 million. Rakuten Bank America would undertake credit card issuing and acquiring, personal loans, business loans and deposits. Since…
Vedanta fully unwinds the Cairn India Holdings structured investment with $100 million gains
MUMBAI, INDIA: Cairn India Holdings Limited (CIHL), an overseas subsidiary of Vedanta Limited, and Volcan Investments Limited have agreed to unwind entirely the structured investment entered between them in December 2018 ahead of the originally envisaged schedule. With this, Volcan Investments will exercise the early exchange option available to it on 26 July 2019 and…
3i Infrastructure plc agrees to acquire Ionisos
LONDON: 3i Infrastructure plc has agreed to invest €220 million to acquire up to 100% of Ionisos, a leading owner and operator of cold sterilisation facilities servicing the medical, pharmaceutical and cosmetics industries, from Ardian Expansion. Completion is expected to take place in September. Established in 1993 in Civrieux, France, Ionisos is the third largest…
Vodafone to create Europe’s largest tower company
LONDON: Having secured network sharing agreements in several key markets, Vodafone Group Plc announced Friday that it is proceeding with plans to monetise a substantial proportion of its European tower infrastructure during the next 18 months, including the previously announced intention to combine Vodafone Italy’s passive tower infrastructure with Inwit S.p.A. Vodafone has recently announced…
ST Engineering secures contracts worth $1.5bn for 2Q2019
SINGAPORE: Singapore Technologies Engineering Ltd (ST Engineering), a global technology, defence and engineering group has announced that its Aerospace and Electronics sectors have secured new contracts with a combined value of about $1.5 billion for the second quarter (2Q) of 2019. This is in addition to the $1.0 billion contract announced on 24 April for…
NSL OilChem opens S$40mn industrial wastewater treatment complex
The S$40 million wastewater treatment complex is the company’s second treatment plant and will have a capacity of 1,000 cubic meter per day – one of the largest in Singapore. “The NSL OilChem Waste Management’s industrial wastewater treatment complex will be an important facility in Singapore’s growing chemicals industry where there is demand for increasingly…
Sunpower secures RMB 30mn Manufacturing and Services tender
SINGAPORE: Sunpower Group Ltd., an environmental protection solutions specialist with a leading edge in anti-pollution investment projects, has won Manufacturing and Services (M&S) tender worth over RMB 30 million from new customer Fujian Gulei Petrochemical Co., Ltd. Fujian Gulei Petrochemical is a large-scale chemical company, a joint venture between Fujian Petrochemical Co, Ltd and a…
redT Energy proposes merger with Avalon Battery
LONDON: redT energy plc, the energy storage company, is pleased to announce that it has agreed to outline terms for a proposed merger with Avalon Battery Corporation. The parties have signed a non-binding Memorandum of Understanding (MOU) and have plans for the injection of significant new funding as outlined further below. The merger, if approved…
Cora Gold granted 100% ownership of Tagan Permit in southern Mali
LONDON: Cora Gold has been awarded 100% ownership of the 82km2 Tagan Permit located along the Yanfolila Gold Belt in southern Mali. The newly awarded permit area overlies what is considered to be the most prospective area of a previous permit held by Cora Gold which expired in June 2017. The Tagan Permit lies approximately…