Economic and Market News for 13 January 2020
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13 Jan
14:19Anglo African Oil & Gas agrees terms of potential asset sale to Zenith EnergyAnglo African Oil & Gas said it had agreed to a sale plan with Zenith Energy over its remaining stake in a Congolese oil prospect. Anglo African Oil & Gas (AAOG) had previously agreed to...
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13 Jan
14:12GCM Resources extends Bangladesh coal mine agreement with Chinese pairGCM Resources said it had extended by three months a non-binding agreement with two Chinese companies to pursue the development of the Phulbari coal mine and power project in Bangladesh. The...
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13 Jan
14:06Caledonia Mining beats annual gold production forecastCaledonia Mining said it beat its annual production guidance after output jumped 13% in the fourth quarter on-year. Total gold production for the year through December rose to 55,182 ounces, ahead...
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13 Jan
13:53Base Resources ups mineral sands production guidance for Kenya operationAfrican mineral sands producer Base Resources upgraded production guidance for its Kwale operation in Kenya. Rutile output for the 2020 financial year was now seen at 75,000 to 81,000 tonnes, up...
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13 Jan
13:28Walcom sources addtional loan from CEO Francis ChiStruggling animal feed provider Walcom said it had sourced another loan from chief executive Francis Chi. The HK$270k loan carried an interest rate of 8% a year and was repayable on 12 January...
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13 Jan
13:22Xeros Technology chairman David Armfield stands downWashing machine technology group Xeros Technology said chairman David Armfield had stood down and taken up the role of senior independent director. Armfield had been replaced as chairman by Klaas...
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13 Jan
13:18Mereo BioPharma sells rights for ovarian cancer treatment to OncologieMereo BioPharma said it had signed a license agreement with Oncologie for the development and sale of a treatment for ovarian cancer. Oncologie would receive an exclusive worldwide license for the...
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13 Jan
13:10Victrex forms JV with Yingkou Xingfu Chemical to build China plastics factoryPlastics company Victrex said it had formed a joint-venture with Yingkou Xingfu Chemical Company to build a polymer factory in Liaoning, China. Victrex would have a 75% share of the facility and...
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13 Jan
10:05Diaceutics upgrades profit outlook on strong finish to yearDiaceutics upgraded its profit outlook thanks to 'strong' trading performance in the final quarter amid an increase in the number of clients and an accelerated growth in product sales. The...
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13 Jan
09:58Travis Perkins sells plumbing business to Newbury Investments for £46mBuilders merchant Travis Perkins said it had agreed to sell its plumbing and heating business to Newbury Investments for £46m. The sale of the business, called Primaflow F&P, would come after...
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13 Jan
09:54RDI REIT touts higher occupancy levels; leasing dealsUK and German property investor RDI REIT said its occupancy levels remained high following the signing of new leasing agreements in the first quarter of the new financial year. Occupancy across...
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13 Jan
09:47Gan appoints Karen Flores as CFOGambling software company Gan said it had appointed Karen Flores as chief financial officer, effective immediately. Most recently, Flores served as vice president of corporate financial planning...
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13 Jan
09:46Sound Energy gets environmental approval for Morocco gas pipelineSound Energy said it had received environmental approval for a key gas pipeline in Morocco. The Moroccan Ministry of Energy, Mines and Environment had approved an environmental impact assessment...
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13 Jan
09:44Instem sees momentum continuing as revenue rises 12%IT solutions provider Instem said its revenue rose by an expected 12% in 2019, as a transition towards offering software as a service continued and resulted in improved earnings visibility. Its...
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13 Jan
09:38Ergomed acquires Ashfield Pharmacovigilance from UDG Healthcare for $10mPharmaceutical services provider Ergomed said it had acquired Ashfield Pharmacovigilance from UDG Healthcare for $10m. The acquisition would add over 40 new clients to the company's PrimeVigilance...
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13 Jan
09:34Craven House completes purchase of IIU from LM Funding AmericaCraven House said it had completed the purchase of medical insurance broker IIU from LM Funding America. Craven House North America (CRVNA), the company's subsidiary, previously sold IIU to LMFA...
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13 Jan
09:33UK gross domestic product falls unexpectedly in NovemberThe UK's gross domestic product fell 0.3% in the month of November, according to the Office for National Statistics. The market had been expecting a flat reading for the month. Manufacturing...
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13 Jan
09:21CareTech appoints Christopher Dickinson as CFOSocial care services provider CareTech said it had appointed Christopher Dickinson as chief financial officer with immediate effect. Dickinson would take over the role from Gareth Dufton who was...
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13 Jan
09:19Clipper Logistics wins five-year contract with JoulesClipper Logistics said it won a five-year contract with lifestyle fashion brand Joules to provide logistics services. Following a staff consultation period, the contract was planned to commence...
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13 Jan
09:18Tiziana Life Sciences to delist from AIM; relocate to BermudaInflammation and oncology focused Tiziana Life Sciences said it had appointed advisers in relation to a planned redomicile to Bermuda that would see its shares delisted from AIM. The move was...
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13 Jan
09:14Remote Monitored Systems completes product testing, pilot with new clientSurveillance group Remote Monitored Systems said its Cloudveil unit had completed testing and successfully piloted a mobile protective surveillance programme with a new client. The client was...
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13 Jan
09:09Hikma Pharmaceuticals inks licensing, distribution agreement with Chiesi FarmaceuticiHikma Pharmaceuticals said it had signed an exclusive licensing and distribution agreement with Italy-based Chiesi Farmaceutici. Under the agreement, Hikma had the exclusive rights to sell 11 of...
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13 Jan
08:51Avingtrans' Hayward Tyler wins £2m solar contract in DubaiAvingtrans said its subsidiary, Hayward Tyler, had been awarded a £2m contract to supply a glandless pump package to Shanghai Electric to install in Dubai. The pump package would be installed at...
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13 Jan
08:36LondonMetric Property sells office park in Worcester for £6.2mLondonMetric Property said it had sold an office park in Worcester for £6.2m, reflecting a net initial yield of 6.7% The 28,000 square foot out of town office scheme was acquired through the...
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13 Jan
08:28Feedback teams up with Imaging Engineering to support X-ray equipment upgrade across the USMedical imaging technology company Feedback said it had teamed up with US-based Imaging Engineering to support the installation and refitting of modernised fluoroscopy equipment across the US....
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13 Jan
08:11Richland Resources raises capital as it seeks merger suitorCash shell Richland Resources said it had raised £0.15m from a share issue to provide working capital while it seeks out a reverse takeover suitor. New shares in the company were issued at 0.1p...
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13 Jan
08:03Randall & Quilter appoints William Spiegel as executive chairman designateInsurance investment group Randall & Quilter said it had appointed William Spiegel as its deputy chairman to eventually succeed Ken Randall as head of the company. Spiegel would go on to...
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13 Jan
08:03Hutchison China MediTech begins phase two study of combination cancer drugHutchison China MediTech said it had begun a phase two study of its cancer drug in China. The trial would evaluate surufatinib, the company's oral angio-immuno kinase inhibitor, in combination...
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13 Jan
07:58Etalon delivers record 622K square meters of net sellable area in 2019Russian construction group Etalon said it had delivered a record 622K square meters of net sellable area at 21 of its residential real estate development projects in 2019. Of the 622K sqm of...
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13 Jan
07:53KRM22 on track to meet expectations despite delay in closing out contractsKRM22 said it was on track to meet expectations despite a delay to a small number of contract signings. The company said it expected to report 2019 full-year performance adjusted loss (LBITDA) in...
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13 Jan
07:45Tern portfolio company InVMA wins commercial orderInternet of things investment company Tern said portfolio company InVMA had secured an initial order commitment worth £817k over a two-year period. The order was from a global supplier to the...
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13 Jan
07:17AstraZeneca cancer drug application granted priority review in US; ends heart disease trialAstraZeneca and partner Merck said their application for a drug used to treat advanced ovarian cancer had been granted priority review in the US. The pharmaceutical company also said it had ended...