Economic and Market News for 5 December 2018
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05 Dec
14:48Bank of Georgia launches new payment method for small businessBank of Georgia Group said it had introduced a new payment method to the local small business market in Georgia. The method had been designed as an alternative payment mechanism to the traditional...
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05 Dec
14:45Shire shareholders approve £46bn takeover by TakedaPharmaceutical group Shire said its shareholders had approved a £46bn takeover of the company by Japan's Takeda Pharmaceutical Company. Takeda shareholders had also approved the deal....
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05 Dec
14:40Block Energy poised to commence Norio drilling campaign in GeorgiaBlock Energy said it was preparing to drill the first four of eight wells as part of a campaign to increase in production at its Norio oil field in Gerogia. A specialist micro drilling perforation...
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05 Dec
14:23Civitas Social Housing buys five properties for £4mCivitas Social Housing said it had completed the purchase of give regulated social housing properties comprising 27 tenancies for £4.0m. The properties were leased to Bespoke Supportive Tenancies,...
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05 Dec
14:20Enteq Upstream files patent for new drilling toolEnteq Upstream said it had filed a new UK patent application relating to a new technical tool for oil and gas drilling. The application related to a 'real- time' azimuth and inclination...
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05 Dec
13:59Petropavlovsk starts processing ore at Pokrovskiy gold mine in RussiaPetropavlovsk said it had started processing gold concentrate at its Pokrovskiy mine in Russia. The first autoclave at the mine's pressure oxidation hub had started processing ore one month ahead...
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05 Dec
13:47Petra Diamonds completes diamond asset sale in South AfricaPetra Diamonds said it had completed the sale of diamond assets in South Africa to a joint venture between the company and Ekapa Mininig for around 300m rand (£17m). The assets included Petra and...
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05 Dec
13:35Mereo BioPharma to acquire OncoMed Pharmaceuticals for around $57.4mMereo BioPharma Group said it had agreed to acquire oncology-focused clinical stage bio-pharmaceutical business OncoMed Pharmaceuticals for around $57.4m. OncoMed Pharmaceuticals would receive...
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05 Dec
13:26Premier African Minerals advances proposed acquisition of KMEPremier African Minerals said it had successfully completed due diligence on assets it wished to acquire from KME Holdings for $4m. The companies had now 'agreed to proceed to a formal framework...
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05 Dec
13:10Shield Therapeutics partner starts selling iron deficiency treatment UKShield Therapeutics said that European distribution partner Norgine had launched its iron deficiency treatment in the UK. Sheild in September licensed the so-called Feraccru treatment to Norgine...
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05 Dec
10:27Faron Pharmaceuticals says trial shows ARDS treatment 'potentially very effective'Faron Pharmaceuticals said Wednesday its treatment to prevent vascular leakage and organ failures showed a 'substantial reduction' in death rates for patients suffering from acute respiratory...
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05 Dec
10:01Eco Atlantic to start drilling well offshore Guyana in May or JuneEco Atlantic, the oil and gas exploration company, said it would began drilling a well on the Orinduik Block, offshore Guyana, in late May or early June next year. The 'Jethro-Lobe' prospect was...
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05 Dec
09:59Raven Property buys Russion warehouse complexRaven Property Group said a subsidiary had agreed to acquire a completed warehouse in Russia for RUB 2.8 billion (£32.9m) from fund manager Amstar. The warehouse complex was located in Nizhny...
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05 Dec
09:41UK services PPI drops unexpectedly to 50.4 in NovemberThe UK services purchasing managers' index fell to 50.4 in November, the lowest reading since July 2016, according to IHS Markit The index had fallen from 52.2 in October and came in well below...
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05 Dec
09:33Shanta Gold sees Singida gold mine in Tanzania costing $19mShanta Gold said its Singida gold mining project in central Tanzania would require a pre-production capital expenditure investment of $16m, plus $3m for working capital. Average annual production...
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05 Dec
09:20Panther Securities to pay 15p per share special dividendProperty investor Panther Securities said it planned to pay a special dividend for the current financial year. A payout of 15p per share would be received by shareholders on 17 January. 'As...
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05 Dec
09:15Versarien forms early-stage collaboration pact with China Railway GroupAdvanced materials developer Versarien said it had signed an early-stage agreement with a subsidiary of China Railway Group. The non-binding memorandum of understanding would the see the pair...
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05 Dec
08:38Taptica appoints Rivi Block as interim CEOAdvertising technology group Taptica said chief executive Hagai Tal had resigned with immediate effect due to a court ruling. Tal, however, would remain with the company 'as long as necessary' to...
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05 Dec
08:32Faroe Petroleum says Cassidy well spudded; reveals assets swap with EquinorOil and gas company Faroe Petroleum said the Cassidy exploration well in the Norwegian North Sea had been spudded. The total expected vertical depth of the well was approximately 3,056 metres, in...
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05 Dec
08:27Simec Atlantis Energy wins European grant for tidal power projectSimec Atlantis Energy said it had won a €1m to support its tidal power turbine development programme. The company signed the grant agreement with the European Executive Agency for Small and...
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05 Dec
08:03Itaconix signs licence pact with New Wave for new automatic dishwasher detergentSpecialty polymers provider Itaconix said Wednesday it had signed a licence agreement to allow Canada-based New Wave to use the company's proprietary polymer formula to produce a new automatic...
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05 Dec
07:57Regal Petroleum achieves 'strong' flow rates from Ukraine wellRegal Petroleum said it had hooked up a new well at the Vasyschevskoye gas and condensate field in Ukraine to a gas-processing facility to allow for longer-term production testing following...
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05 Dec
07:52FIH group acquires freehold of industrial estate in East London for £19.4mFIH group said Wednesday it had purchased the freehold of a 2.5 acre industrial estate in East London for £19.4m from H. Young & Co. The site consisted solely of five warehouses operated by...
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05 Dec
07:47EU Supply inks two contracts worth €0.2mE-procurement software provider EU Supply said Wednesday it had signed two contracts worth a combined total of €0.2m both with European nuclear research organisations to supply services related to...
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05 Dec
07:22Witan Investment Trust chairman to retireWitan Investment Trust said chairman Harry Henderson would retire at its annual general meeting in 2020. A board committee would commence the search for a replacement, who would be appointed...
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05 Dec
07:20Wood Group wins $43m pipeline contract in TexasOil services company Wood Group said it had won a $43m contract from a large-cap midstream company to construct 80 miles of steel pipeline in west Texas. The project would serve to transport...
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05 Dec
07:18Riverstone sells interests in Siera Oil & Gas to DEA Deutsche ErdoelRiverstone Holdings said it had agreed its interests in Mexico-focused Sierra Oil & Gas to Germany's DEA Deutsche Erdoel, for an undisclosed price. The transaction was expected to close during...
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05 Dec
07:15Tritax Big Box raises £400m in debt financeTritax Big Box REIT said Wednesday that it had signed an agreement with a number of new institutional investors for a private placement of £400m new senior unsecured loan notes. The loan notes...