Braemar Offloads Its US Subsidiary

first_imgbraemarplc, March 20, 2014 zoom Braemar Shipping Services, an international provider of shipping, marine and energy services, today revealed the sale of the sale of Casbarian Inc., its US based technical services subsidiary.Following the recent performance of Casbarian, Braemar undertook a review of its operations and concluded that the strategic fit with the Braemar Technical Services division was not sufficiently strong to justify future investment. Accordingly the decision was taken to exit the business.James Kidwell, chief executive officer of Braemar, commenting on this development said: “The Board has acted quickly and decisively to dispose of the Casbarian operations in the US, which were responsible for the expected underperformance highlighted in our interim management statement of 17 January 2014.”last_img read more

COP22 in Morocco: EU, UNDP & IFAD Pledge Financial Support

Rabat – The European Union, the United Nations Development Programme (UNDP) and the International Fund for Agricultural Development (IFAD) pledged, on Monday in Rabat, to provide financial support for the World climate Conference (COP22), scheduled for November in Marrakech.During a meeting, organized by the Ministry of Economy and Finance in cooperation with the COP22 steering committee, representatives of the EU, UNDP and IFAD pledged to provide financial aid to ensure the success of this global event.The EU will provide 2 million euros in support for the organization of COP22 and negotiations are underway to mobilize an additional 5 million, said the EU representative at the meeting. The UNDP will provide € 2 million, while the IFAD’s contribution will reach € 450,000.Representatives of technical and financial partners (UN, World Bank, EU, ADB, EIB, USAID, IDB, JICA, AECID, EBRD, CIB, KOICA, GIZ, etc ..) pledged to provide technical and financial support for the organization of COP22.With MAP read more