Ilham Aliyev received Iranian foreign minister

President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by Minister of Foreign Affairs of the Islamic Republic of Iran Hossein Amir Abdollahian.

The head of state recalled his meeting with President of the Islamic Republic of Iran Seyyed Ebrahim Raisi in Ashgabat, during which many issues related to future cooperation were discussed and Azerbaijan-Iran friendly relations were reaffirmed.

Hossein Amir Abdollahian extended President of the Islamic Republic of Iran Seyyed Ebrahim Raisi’s greetings to the head of state. President Ilham Aliyev thanked for the Ebrahim Raisi’s greetings and asked the minister to extend his greetings to the Iranian President.

Pointing to the meeting between President Ilham Aliyev and President Seyyed Ebrahim Raisi in Ashgabat, the Iranian Foreign Minister described the meeting as a turning point in relations between the two countries.

The sides underlined the importance of continuing joint efforts to deepen cooperation in political, economic, energy, transport, humanitarian and other fields.

They pointed out the broad agenda of bilateral cooperation and expressed their hope that good results would be achieved.

Hitachi Energy wins major contract for the first-of-its-kind sub-sea power transmission network in the MENA region advancing a sustainable energy future for Abu Dhabi

HVDC Light® will connect low-carbon power from the mainland grid to ADNOC’s production operations as a strategic project to enable a sustainable, flexible and secure power supply.

Zurich, Switzerland, Dec. 22, 2021 (GLOBE NEWSWIRE) — Hitachi Energy today announced it has won a major order from Samsung C&T Corporation, one of the world’s largest engineering and construction companies, to connect ADNOC’s offshore operations to the onshore power grid in the United Arab Emirates owned and operated by Abu Dhabi National Energy Company PJSC (TAQA).

Hitachi Energy’s HVDC Light® technology and MACHTM digital control platform1 will enable the transfer of cleaner and more efficient power from the mainland to power ADNOC’s offshore production operations, enabling a carbon footprint reduction of ADNOC’s offshore operations by more than thirty percent.

This innovative solution reinforces Hitachi Energy’s commitment to helping customers and countries to transition towards a carbon-neutral future and help enable the ‘2050 Net-Zero  Initiative’ of the UAE.

With a capacity of 3,200 megawatts (MW), the two HVDC links will be by far the most powerful power-from-shore solution in the Middle East and North America (MENA) region to date. It is also the first HVDC power-from-shore solution outside Norwegian waters. This innovative solution reflects how Hitachi Energy continues to pioneer technology to address the growing interest from national and independent oil and gas companies to power their offshore production facilities with carbon-free energy from onshore power grids.

“We are proud to be enabling Abu Dhabi and ADNOC to make significant progress on their pathway toward achieving the United Arab Emirates’ ambition to be carbon-neutral by 2050,” said Claudio Facchin, CEO of Hitachi Energy. He continued, “At Hitachi Energy we are championing the urgency of the clean energy transition, and this major order is further evidence that we are a ‘go to’ partner for developing and deploying technologies and solutions that are advancing the world’s energy system to be more sustainable, flexible and secure.”

Mr. SH Kim, Procurement Manager at Samsung C&T Corporation, commented, “In Hitachi Energy, we have selected a trusted partner who brings deep global competence and a strong mindset of collaboration and innovation.” SH Kim continued, “Together, we will serve ADNOC with pioneering technologies that are proven to deliver for such a large HVDC project.”

The entire power-from-shore project will comprise two HVDC power links, which will connect two clusters of offshore oil and gas production facilities to the mainland power grid, a distance of up to 140 kilometers for each cluster.

Hitachi Energy is supplying four converter stations, which convert AC power to DC for transmission in the subsea cables, then reconvert it to AC from DC for use in the offshore power systems. The HVDC technology will be supplied from Hitachi Energy’s global competence centers. Also included in the order are system studies, design and engineering, supply, installation supervision and commissioning. Hitachi Energy will support the customers with a long-term life-cycle service agreement leveraging digital technologies to ensure system availability and reliability over the HVDC links’ long operating life.

HVDC Light is a voltage source converter technology that was pioneered by Hitachi Energy. It is the preferred technology for many grid applications, including interconnecting national power grids, integrating offshore wind parks with mainland transmission systems, feeding more power into congested city centers, interconnecting asynchronous networks that operate at different frequencies, and power from shore.

HVDC Light’s defining features include uniquely compact converter stations (which is extremely important in space-critical applications like offshore wind, offshore production facilities and city-center infeeds), exceptionally low electrical losses, and black-start capability to restore power after a grid outage.

Hitachi Energy pioneered commercial HVDC technology almost 70 years ago and has delivered more than half of the world’s HVDC Classic projects and more than 70 percent of the world’s voltage source conversion HVDC projects.

Notes:

  1. Modular Advanced Control for HVDC (MACH™)
  2. The estimated reduction in carbon footprint is based on Hitachi Energy’s own calculations.

About Hitachi Energy

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

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Rebecca Bleasdale
Hitachi Energy Ltd.
+41 78643 2613
rebecca.bleasdale@hitachienergy.com

Philips receives FDA De Novo Clearance for IVC Filter Removal Laser Sheath – CavaClear – with Breakthrough Device Designation

December 22, 2021

  • Philips IVC Filter Removal Laser Sheath – CavaClear – is intended to safely ablate tissue to remove embedded IVC filters
  • CavaClear is a first-in-class FDA-cleared solution for advanced IVC filter removal
  • It is estimated that in the United States more than one million patients with IVC filters would benefit from filter removal to reduce the risk of long-term complications [1,2]
  • Two independent and prospective clinical studies demonstrated that laser-assisted retrieval was 96-99.4% effective with a major adverse event rate of 0.7-2% [3,4]

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology today announced the FDA has granted De Novo Clearance for Philips IVC Filter Removal Laser Sheath – CavaClear – to remove an IVC filter when previous methods of removal have failed. CavaClear is the first and only FDA-cleared solution for advanced IVC filter removal. Earlier in 2021, the FDA granted the device Breakthrough Device Designation. Laser has been clinically proven to provide a success rate over 99%, with low complication rates [3].

IVC filters are used to treat patients with venous thromboembolism, in which blood clots form in the deep veins of the leg and groin, and can travel through the circulatory system. They are placed in the inferior vena cava to capture blood clots from moving to the lungs. However, research has shown that IVC filters may have long-term complications [5]. The filters can fracture and travel through the bloodstream to other parts of the body. Other identified long-term risks associated with IVC filters include lower limb deep vein thrombosis and IVC occlusion. The FDA recommends that implanting physicians consider removing retrievable IVC filters as soon as they are no longer indicated [2].

Failure rates for IVC filter removal can be high and prior to CavaClear, limited options for removal existed if the filter became difficult to remove. Advanced retrieval tools and techniques are required if the IVC filter becomes embedded in the vasculature. Physicians previously had very few tools to remove the filter when complications occurred and until now there were no FDA-approved devices for this type of advanced removal.

“Today is a historic day. With the approval of CavaClear, physicians now have a device specifically geared remove chronically embedded IVC filters,” said Kush R. Desai MD, FSIR, Associate Professor of Radiology, Surgery, and Medicine, and Director of Deep Venous Interventions at Northwestern University Feinberg School of Medicine, Chicago, Illinois, USA. “Backed by evidence, this technology can be applied to retrieve IVC filters that are no longer indicated, reducing potential clinical risk for patients and satisfying the FDA’s guidance to retrieve filters when they are no longer indicated.”

Clinical research supports laser-assisted removal

Two independent and prospective clinical studies demonstrated that laser-assisted retrieval was 96-99.4% effective with a major adverse event rate of 0.7-2% [3,4]. Philips CavaClear uses circumferential tissue ablation that can aid in capturing the filter within seconds of laser activation, which can help increase physician efficiency during removal, and may help lower costs by reducing the number of retrieval attempts needed to remove an embedded filter. In addition, the simple and safe design is easy for physicians to integrate into their workflow.

“With the FDA’s clearance of our IVC Filter Removal Laser Sheath – CavaClear – more than one million patients and their physicians now have access to a safe, effective and efficient option for advanced IVC filter removal,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “This clearance demonstrates the commitment of Philips to innovating procedures with physician collaboration to meet unmet needs that can have a critical impact on the lives of patients and their families.”

[1] Philips internal market research data calculation.
[2] Health, C. for D. and R. Safety Communications – Removing Retrievable Inferior Vena Cava Filters: FDA Safety Communication. (2014).
[3] Kuo, W. et al. Laser‐Assisted Removal of Embedded Vena Cava Filters: A First‐In‐Human Escalation Trial in 500 Patients Refractory to High‐Force Retrieval. Journal of the American Heart Association 9:24, 1-9 (2020).
[4] Desai, K. et al. Excimer Laser Sheath-Assisted Retrieval of “Closed-Cell” Design Inferior Vena Cava Filters. J Am Heart Assoc; 9: e017240 (2020).
[5] Van Ha, T. G. Complications of inferior vena caval filters. Semin. Interv. Radiol. 23, 150–155 (2006).

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

Fabienne van der Feer
Philips Image Guided Therapy
Tel: + 31 622 698 001
E-mail: fabienne.van.der.feer@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Iveco Group N.V. announces publication of supplement to the prospectus dated November 11, 2021 relating to its listing on Euronext Milan

Corporate Communications

ADVERTISEMENT. This announcement is an advertisement for the purposes of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”) relating to the intention of Iveco Group N.V. (the “Company”) to proceed with the proposed first admission to listing and trading of all of the common shares of the Company on the regulated market of Euronext Milan (the “Admission”). This announcement does not constitute or form part of a prospectus within the meaning of the Prospectus Regulation and has not been reviewed nor approved by any regulatory or supervisory authority in any jurisdiction, including any member state of the European Economic Area (each, an “EEA Member”), the United Kingdom and the United States. This announcement is for information purposes only and is not intended to constitute, and should not be construed as, an offer by or invitation by or on behalf of, the Company, CNH Industrial N.V (“CNH Industrial”), any of their advisors or any representative of the Company or CNH Industrial or any of their advisors, to purchase any securities or an offer to sell or issue, or the solicitation to buy securities by any person in any jurisdiction, including any EEA Member, the United Kingdom or the United States. The approval of the Prospectus (as defined below) by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the “AFM”) should not be understood as an endorsement of the quality of the Shares (as defined below) and the Company. Potential investors should read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the Shares.

London, December 22, 2021

Iveco Group N.V. (the “Company”) today announces the publication of the supplement to the prospectus dated November 11, 2021 (the “Prospectus”) in connection with the intended admission to trading and listing of its common shares (“Common Shares”) on the regulated market of Euronext Milan (“Admission”) in the context of the intended separation of the relevant business segments from CNH Industrial N.V. (“CNH Industrial”) to the Company by way of a Dutch law statutory demerger (afsplitsing) (the “Demerger”). The supplement to the prospectus is dated December 22, 2021 (“Supplement“) and made available, inter alia, in connection with the publication of the Company’s 2021 interim condensed combined financial statements for the nine months ended September 30, 2021, as derived from the combined consolidated financial statements of CNH Industrial for the same period as published by CNH Industrial on November 4, 2021, and forward-looking statements and profit forecasts as presented at the Iveco Group Investor Day held on November 18, 2021.

Listing of and first trading on an ‘as-if-and-when-delivered’ basis in the Common Shares on Euronext Milan under symbol IVG is expected to commence on January 3, 2022 (the “First Trading Date”).

The Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, the “AFM”) has approved the Supplement. The Prospectus and the Supplement are available on the website of the Company (www.ivecogroup.com/investor_relations).

Risk Factors
Investing in the Company involves certain risks. A description of these risks, which include risks relating to the Company as well as risks relating to the Demerger and the Common Shares and special voting shares in the share capital of the Company (the “Special Voting Shares” and together with the Common Shares, the “Shares”) is included in the Prospectus and in the Supplement. Potential investors should read the Prospectus and the Supplement before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the Shares.

Earlier announcements related to the Demerger and Admission
On December 17, 2021, CNH Industrial announced the publication of combined financial figures for both its ‘Off-Highway’ and ‘On-Highway’ businesses. On December 9, 2021, CNH Industrial and the Company announced the rating assigned to the Company by Fitch Ratings. On November 18, 2021, CNH Industrial and the Company presented the Company’s business, strategy and 2026 financial ambitions. On November 11, 2021, CNH Industrial and the Company announced the approval and publication of the Prospectus. On September 3, 2019, CNH Industrial announced the intention to separate the relevant business segments of the Company’s from CNH Industrial and to admit the Company’s shares to listing and trading on a regulated market. On June 11, 2021 and on July 5, 2021, CNH Industrial announced management changes for the Company in view of the Demerger and Admission. On October 18, 2021, CNH Industrial further announced that an Investor Day in respect of the Company, ahead of the Demerger and Admission, was to be held on November 18, 2021. These press releases are available on the corporate website of CNH Industrial (www.cnhindustrial.com/en-us/investor_relations) and/or on the corporate website of the Company (www.ivecogroup.com/investor_relations).

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Iveco Group N.V., after the completion of the Demerger as announced on November 11, 2021 (and expected to be effective on January 1, 2022), will be the parent company of the trucks and specialty vehicles, powertrain and related financial services businesses currently held by CNH Industrial. Iveco Group will therefore own and operate eight unique, yet unified commercial brands: IVECO, a pioneering champion that designs, manufactures and commercializes heavy, medium and light duty commercial vehicles; FPT Industrial, a global leader in providing its vast array of advanced powertrain technologies to customers in agriculture, construction, marine, power generation, and commercial vehicles alike; IVECO BUS and HEULIEZ, premium and mass-transit bus and coach brands; Iveco Defence Vehicles, for highly-specialized defence and civil protection equipment; ASTRA, a global expert in large scale heavy duty quarry and construction vehicles; Magirus, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all, serving as the cornerstone of Iveco Group’s new business models. Further information about Iveco Group is available on the company’s website www.ivecogroup.com

Media contacts:
E-mail: mediarelations@cnhind.com
Francesco Polsinelli, Tel: +39 335 1776091
Laura Overall, Tel: +44 207 7660 386

Investor contacts
E-mail: investor.relations@cnhind.com
Federico Donati, Tel: +44 207 7660 386
Noah Weiss, Tel: +1 630 887 3745

www.cnhindustrial.com

DISCLAIMER
This announcement does not constitute a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, as amended (the “Prospectus Regulation”), and shares in Iveco Group N.V. will be allotted in circumstances that do not constitute “an offer to the public” within the meaning of the Prospectus Regulation. This announcement is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute an announcement of this nature.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which they are released, published or distributed, should inform themselves about, and observe, such restrictions.

This announcement is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, as amended (the “Prospectus Regulation”). With respect to the member States of the European Economic Area, no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any relevant member State. As a result, the securities may not and will not be offered in any relevant member State except pursuant to a prospectus approved by the relevant market authorities in that member State or in accordance with the exemptions set forth in Article 3(2) of the Prospectus Regulation, if they have been implemented in that relevant member State, or under any other circumstances which do not require the publication of a prospectus pursuant to Article 3 of the Prospectus Regulation and/or to applicable regulations of that relevant member State. This announcement is not intended to constitute, and should not be construed as, an offer by or invitation by or on behalf of, the Company, CNH Industrial, any of its advisors or any representative of the Company or CNH Industrial or any of their advisors, to purchase any securities or an offer to sell or issue, or the solicitation to buy securities by any person in any jurisdiction, including any EEA Member, the United Kingdom or the United States.

The securities referred to herein may not be offered or sold in the United States of America absent registration or an applicable exemption from registration under the U.S. Securities Act of 1933, as amended. The Company and CNH Industrial do not intend to register all or any portion of the offering of the securities in the United States of America or to conduct a public offering of the securities in the United States of America.
This announcement does not constitute an offer of securities to the public in the United Kingdom. This announcement is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any investment activity to which this announcement relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

This announcement may include statements, including with respect to CNH Industrial’s and the Company’s financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions Not for release, publication or distribution in whole or in part, directly or indirectly, in or into any jurisdiction in violation of the relevant laws of such jurisdiction, and the payment of dividends and distributions, as well as share repurchases. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “plans”, “targets”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements are made as of the date of this announcement. Although CNH Industrial and the Company believe that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Such forward-looking statements are included for illustrative purposes only. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH Industrial and the Company’s control. CNH Industrial and the Company expressly disclaim any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

The price and value of securities may go up as well as down. Persons needing advice should contact a professional adviser. Information in this announcement or any of the documents relating to the Admission and the Demerger cannot be relied upon as a guide to future performance.
The Company may decide not to go ahead with the Admission and CNH Industrial may decide not to go ahead with the Demerger and there is therefore no guarantee that the Admission and the Demerger will occur. You should not base your financial decision on this announcement. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested.

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Russia’s Gazprombank projects share of Azerbaijan’s oil and gas GDP in medium term

Due to the growth of the non-oil and gas component in the medium term, the share of Azerbaijan’s oil and gas GDP will exceed 35 percent, Deputy Head of the Market Analysis Department of the Russian Gazprombank Gulnara Haydarshina told Trend.

According to Haydarshina, in the coming year, with the updated baseline scenario of the average Brent oil price at $81.7, the economy will grow by 4.5 percent, taking into account the exhaustion of the effect of the low base of the crisis in 2020.

“In addition, even under a conservative, unlikely scenario of an average Brent oil price of $60, the Azerbaijani economy will maintain positive growth rates in the coming year. This will be facilitated by a recovery in domestic demand, an increase in the physical volumes of gas exports due to the launch of the TAP gas pipeline, as well as new non-oil and gas growth drivers,” she said.

Haydarshina stressed that the oil and gas sector of Azerbaijan will continue to support the economy in the medium term in the context of the recovery of global demand for hydrocarbons and the consistent relaxation of OPEC + restrictions.

“Earlier it was reported, the oil and gas sector remains key for the Azerbaijani economy even in the context of active measures to diversify it through the development of non-oil and gas industries (primarily agriculture, metallurgy, as well as food, light, chemical and automotive industries). After falling to 38 percent in the crisis year of 2020, amid weak external demand in 2021, the share of the oil and gas sector in the total value added of industries may recover to 41 percent,” Haydarshina said.

“Despite a slight reduction, thanks to the growth of the non-oil and gas component in the medium term, the share of oil and gas GDP will exceed 35 percent. It is noted that the share of oil and gas exports in its total volume remains close to 90 percent,” she added.

 

Source: Trend News Agency

Turkey’s Central Bank includes Azerbaijani manat in list of foreign currencies for trade

The Central Bank of Turkey has included the Azerbaijani manat and UAE dirhams in the list of “Foreign currencies for trade”, Trend reports citing the Turkish media.

The renewed list of 22 currencies includes US dollar, Australian dollar, new Azerbaijani manat, UAE dirham, Bulgarian lev, Chinese yuan, Danish krone, euro, South Korean won, British pound sterling, Iranian rial, Swedish krona, Swiss franc, Japanese yen, Canadian dollar, Qatari riyal, Kuwaiti dinar, Norwegian krone, Pakistani rupee, Romanian leu, Russian ruble and Saudi riyal.

 

Source: Trend News Agency