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N-Sea Holding appoints new chief executive - Dotemirates

N-Sea Holding appoints new chief executive

N-Sea Holding has announced the appointment of Arno van Poppel as Chief Executive of the subsea IMR services provider. Van Poppel succeeds Gerard Keser, who steps down from his current role after eight years with the company to take up a position on the company’s advisory board. With a solid track record in the marine contracting environment, Mr van Poppel has contributed to the growth and transformation of companies such as Fabricom and Boskalis Subsea Cables & Flexibles (formally VBMS), creating market leaders renowned for their innovative solutions and focus upon both customer service and delivery. "My experience aligns with...


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Business News

10/08/2019

National Indigenous Music Awards 2019: Mojo Juju wins album and song of the year

by Alexia Attwood and Zan Rowe Mojo Juju's honest account of disconnection and detachment from her Wiradjuri and Filipino heritage has connected with thousands and now won her the Album and Song of the Year at the 2019 National Indigenous Music Awards (NIMAs). The Melbourne musician's third album, Native Tongue, has seen her break through to national acclaim, leading the awards at the nation's biggest celebration of Aboriginal and Torres Strait Islander music, at Darwin's packed Amphitheatre."So much of that story is about isolation and disconnect from community and culture and a feeling of, or that sense of, not belonging,...
10/08/2019

Chinese space startup revs up for reusable rocket race

BEIJING - Chinese startup LinkSpace on Saturday completed its third test of a reusable rocket in five months, stepping up the pace in China's race to develop a technology key to cheap space launches in an expected global boom in satellite deployment.LinkSpace's RLV-T5 rocket blasted off in a desert in western Qinghai province at 0230 GMT. It flew as high as 300 meters before returning to the launchpad on its own after 50 seconds, CEO Hu Zhenyu, 26, told Reuters.The Beijing-based company aims to launch its next-generation RLV-T16 next year that will be capable of reaching an altitude of up...
10/08/2019

Canada enacts drug price crackdown, in blow to pharmaceutical industry

TORONTO - The Canadian government on Friday announced final regulations to reduce patented drug prices it said would save Canadians C$13.2 billion over a decade, overriding heavy opposition from pharmaceutical companies.The changes are the biggest reform to Canada's drug price regime since 1987. They will save money for patients, employers and insurers including the government at the expense of drug company profits. They also could eventually cut the earnings of drugmakers in the United States, the world's largest pharmaceutical market.The Canadian Life and Health Insurance Association called the regulations "a crucial step to lower prescription drug costs for all Canadians."...

10/08/2019

IMF warns increasing US tariffs could cut China growth sharply

WASHINGTON - China's economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday.The International Monetary Fund already had trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are imposed.But US duties of 25 percent on Chinese goods not yet facing tariffs would slow the economy in the following year, the IMF said in a report.The annual review of China's economy -- known as the Article IV report -- was completed before President...
10/08/2019

Lower loan, FD rates likely for NRIs as India cuts repo rate

The Reserve Bank of India on Wednesday cut the key interest rate for the fourth consecutive time as it reduced the repo rate by 35 basis points to 5.40 per cent to boost the slowing economy. A fall in the repo rate, if passed on by banks to consumers, would mean cheaper home and auto loan rates, as well as lower interest rates on fixed deposits. For NRIs who like to park their funds in FDs, this means bad news. The six-member monetary policy committee (MPC) also maintained the accommodative stance on the monetary policy. Noting that inflation is currently...
10/08/2019

Massive job cuts in India's auto sector

Slumping sales of cars and motorcycles are triggering massive job cuts in India's auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said. The cull has been so extensive that one senior industry source told Reuters that initial estimates suggest that automakers, parts manufacturers and dealers have laid off about 350,000 workers since April. Within this previously unreported figure, car and motorcycle makers have laid off 15,000 and component manufacturers 100,000, with the remaining job losses at dealers, many of which have closed, the industry source said. Reuters was able to identify...