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Author Archives: Sahar

Shell opens its first LNG fuelling station in Rotterdam

AMSTERDAM: Shell has opened its first LNG fuelling station in Rotterdam Waalhaven, the Netherlands, for trucks operating in Europe. The station is located near the A15, which is a major route for lorries travelling to Belgium, France, and the German Ruhr area. The new station has a capacity of 70 000 litres of LNG, and can provide some 170 trucks ... Read More »

R100m illicit foreign currency seized by SA Customs: Nhlanhla Nena

CAPE TOWN: FINANCE Minister Nhlanhla Nene has confirmed that the South African Revenue Service (SARS) confiscated foreign currency worth an estimated R100m that was brought into the country as “accompanied baggage” from Nigeria through Lanseria airport. The minister was replying in writing on Tuesday to a parliamentary question by Economic Freedom Fighters MP Floyd Shivambu who requested more details about ... Read More »

Zamano rings up annual pre-tax profit of €2.177m, up 13.5% YOY

DUBLIN: Zamano, the Dublin-based provider of mobile messaging, advertising and payments services, has reported a full-year pre-tax profit of €2.177m – up 13.5% year-on-year. Its revenues for the year to the end of December rose by 24% to €19.86m after what it called “a highly satisfactory performance”. The sales growth was down to the company’s efforts to develop its business ... Read More »

Port of Longyearbyen in Norway plans to open floating cruise terminal in 2017

OSLO: The port of Longyearbyen in Norway plans to open a floating cruise terminal in 2017 if it can secure state funding next year. Designed by Norwegian architects Snøhetta, the two-storey terminal has been designed for use in ports surrounded by solid and floating ice. Measuring 120 metres in length and 35 metres in width, the terminal will be 9m ... Read More »

2 new Berlin industrial buildings sold for $30 million

BERLIN: Two New Berlin industrial buildings with a combined 212,131 square feet sold for $30.05 million this month to an investor from Hawaii, according to state records. The buildings belonged to members of the Luterbach family, of James Luterbach Construction Co. in New Berlin, according to state records. Industrial and office building investor James Campbell Co. LLC, based in Kapolei, ... Read More »

Belgium, Qatar move to strengthen bilateral economic and business ties

BRUSSELS: Belgium and Qatar have taken concrete steps at further reinforcing their robust bilateral economic relations through the awaited visit of a high-level Belgian trade delegation presided over by HRH Princess Astrid, Representative of His Majesty the King. Composed of 223 companies, 22 federations, two universities and 20 public organisations, the 400-people and 267 organisation-strong economic mission is expected to ... Read More »

Envoy opens Irish Maritime Development office at Hamburg

BERLIN: Irish Ambassador to Germany opens the Irish Maritime Development office at Hamburg. Ambassador stressed the importance of bilateral relationship between Ireland and Germany. Mentioning about the German companies in Ireland employing over 10,000 people such as Lufhtanse, Allianz and SAP. Ms Wardell, who joined the Irish Maritime Development office last year, stated that there are much more benefits of ... Read More »

Netherlands customs seizes £8m drugs at port of Tyne

AMSTERDAM: A drugs haul with an estimated street value of £8m was seized after a swoop by Border officers at the Port of Tyne. About 1.3 tonnes of cannabis resin was found during a search of a lorry arriving at the North Shields port from Amsterdam. After intercepting the lorry, which had arrived on a sailing from Ijmuiden carrying crates ... Read More »

Rome officials plan to start water main replacement project in April

ROME: Expansive project to replace several hundred feet of water main in downtown Rome is expected to start in April, according to water and sewer department Assistant Director Mike Hackett. Crews will be putting in new 12-inch water main pipes on East First Street, from First Avenue to Sixth Avenue, and along a portion of West First Street. “We are ... Read More »

Belgium’s Zeebrugge import terminal set to receive Qatari LNG cargo on March 30

BRUSSELS: Liquefied natural gas (LNG) tanker Cool Voyager is due to deliver a Qatari cargo to Belgium’s Zeebrugge import terminal on March 30, data on the port’s website showed. The 160-million-cubic-metre capacity vessel recently departed Qatar’s port of Ras Laffan and is nearing the Suez Canal, live ship-tracking data on Reuters Eikon showed. Read More »

Envoy opens Irish Maritime Development Office in Hamburg

BERLIN: Irish Ambassador to Germany, Michael Collins opened the Irish Maritime Development Office’s latest event in Hamburg held last month. Speakers included Rebecca Wardell, Business Development Manager (IMDO), Hugh Kennedy Kennedy’s Law, Paul Packard Bank of Ireland and Dermot Lambe BMCI. The Ambassador who welcomed guests to the event on 26 February, stressed the importance and scale of the bilateral ... Read More »

$73.5m first phase to complete soon: Port of Antwerp builds Belgium’s largest onshore 40-50 turbine wind farm

BRUSSELS: Construction officially started in the Port of Antwerp breezy Scheldt river left bank area of what is planned to be a 40 to 50-turbine wind farm. The EUR70 million (USD73.5 million) first phase will see 15 turbines erected – enough to supply 35,000 Flemish homes with green electricity when they come on stream in late October – and was ... Read More »

Barges face 72-92 hours delay to process cargoes in Rotterdam, Antwerp

BRUSSELS: Rotterdam and Antwerp risk a return to the congestion that blighted the leading European container ports in 2014 after a major barge operator warned it might levy a surcharge in response to “serious” bottlenecks. Barges have to wait up to 92 hours to process cargoes in Rotterdam and face delays of up to 72 hours in Antwerp, according to ... Read More »

DP World announces acquisition of entire stake of Economic Zones World

BRUSSELS: Global marine terminal operator DP World and its subsidiary DP World FZE have announced the acquisition of the entire stake of Economic Zones World, or EZW, a unit of Dubai World, from the Port and Free Zone World. DP World, which has a portfolio of more than 65 marine terminals across six continents including new developments underway in India, ... Read More »

Irish police seize 18 BMWs registered with smaller engines to avoid higher taxes

DUBLIN : Police in Ireland seized 18 high-powered BMWs after detecting that these were registered with smaller engines to avoid the higher taxes. Many of the cars were BMW 5-Series models with big engines but were registered by the owners as having a 1.9-liter engine to avoid paying the additional annual taxes which in some cases rose to an extra ... Read More »

Norwegian richest fund purges Australian coal investments

OSLO: World’s richest sovereign wealth fund has rid itself of investments in Australian coal companies, highlighting the environmental impact of the production of the commodity. Norges Bank, manager of the $US850 billion Norwegian Government Pension Fund, has outlined the divestment of its interests in 14 coal miners around the world in 2014. Five Australian companies among them included Whitehaven Coal, ... Read More »

TSB receives £1.7b takeover approach from Spain’s 5-biggest bank Sabadell

AMSTERDAM: TSB has received a £1.7 billion takeover approach from one of Spain’s biggest banks which could boost its efforts to compete with high-street rivals. Shares in the FTSE 250 challenger bank soared 62p to 326p after it signalled support for a proposed 340p-a-share cash offer from Sabadell, Spain’s fifth-biggest bank. Lloyds Banking Group – which spun off TSB last ... Read More »

Eurozone inflation rate stands at -0.3% in Feb

BRUSSELS: The eurozone’s inflation rate has been confirmed at minus 0.3 per cent in February, up from the low of -0.6 per cent touched in January but still dangerously low as the European Central Bank battles the threat of deflation. The ECB this month began its €60bn a month bond buying programme to ward off the spectre of deflation in ... Read More »

Stuart Thomson Gulliver sells 42,912 shares of HSBC

BRUSSELS: HSBC Holdings plc insider Stuart Thomson Gulliver sold 42,912 shares of HSBC Holdings plc. The shares were sold at an average price of GBX 561.24 ($8.28), for a total transaction of £240,839.31 ($355,325.04). A number of analysts have recently weighed in on HSBA shares. Analysts at Goldman Sachs upgraded shares of HSBC Holdings plc to a “buy” rating and ... Read More »

Japan Post Holdings to purchase Australia’s Toll Holdings for $ 5.1 billion

TOKYO: Japan Post Holdings Co. agreed to buy Australia’s Toll Holdings Ltd. for A$6.49 billion ($5.07 billion), gaining a transport network in the faster-growing Asian region ahead of an initial public offering this year. The offer, the biggest by a Japanese company for an Australian firm, values Toll’s shares at A$9.04 each, 49 percent more than Tuesday’s closing price. Shares ... Read More »