Business in brief: Maersk back in Iraq

Maersk Oil back in Iraq
Maersk Oil is recommencing its operations in Kurdistan, having pulled out of Iraq in August due to the threat posed by the Islamic State (IS) terror group, Børsen reports.

“It’s obvious that the things that have happened over the summer haven’t been pleasant to witness for Maersk Oil, a company that has activities in the region,” the head of Maersk Oil, Jakob Thomasen, told the newspaper.

“But in the long run we don’t consider that the unrest in Kurdistan will cause us to change our long-term plans.”

Hearing aid manufacturer wins DI product prize
The Danish company GN ReSound has won the Confederation of Danish Industry’s 2014 product prize. The winning product is the ReSound Linx hearing aid, which was developed in collaboration with Apple.

GN also developed an application that allows users to adjust the device’s settings from an iPhone screen.

“We see this distinguished prize as recognition of our innovative efforts to bring a classic product into the modern age,” Anders Hedegaard, the head of GN ReSound, told DI.

According to the WHO, there are 360 million people with hearing difficulties around the world.

Vestas Brazil order cancelled
The order of a 254 MW wind project for Vestas, which the wind energy company was to provide to CPFL Renováveis in Brazil, has been cancelled.

Vestas revealed in a press release that the cancellation is due to the companies being unable to come to an agreement following changes to local Brazilian legislation.

Vestas does not expect the cancellation to affect the company’s outlook for 2014.

Australian online retail giant buys into Denmark
The Australian online shopping company My Sale Group has bought 60 percent of the Danish firm Invite To Buy as part of a large investment project in the Nordic region, Børsen reports.

Both companies specialise in selling branded clothing at discounted prices in so-called flash sales, where products are available to members at a reduced price for a limited time.

Jaron K Cohen, the head of Invite to buy, told Børsen that the move will be good for his company in achieving its business goals. “It’s great to be the biggest and the fastest in this branch,” he said.

“My Sale Group is going full throttle in Scandinavia, which means that we’ll have access to a huge number of brands. We just need to grow, both in turnover and number of members, and we can do that best through working with My Sale Group.”

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