DOHA: All of Qatar Stock Exchange listed companies – with the exception of Qatar General Insurance & Reinsurance Company – have disclosed their financial results for the period ended March 31, 2021. The results show a net profit of QR 10.92 billion compared to QR 8.36 billion for the same period last year, the mount…
PSO, PARCO and PAPCO to jointly install 20-km fuel transportation line between Karachi and Port Qasim
Pakistan State Oil (PSO), Pak Arab Refinery Limited (PARCO) and Pak Arab Pipeline Company (PAPCO) will jointly develop a 20-km pipeline link between Karachi port and Port Qasim for fuel transportation
Pakistan cuts international air traffic by 80 percent to control Covid spread
ISLAMABAD: Government of Pakistan has announced to cut international flights by 80% to control the coronavirus spread in the country. Inbound air traffic will operate at 20% of the total current quantum, while there is no change in the existing Category C list countries. “Amid high disease prevalence in various parts of the world and…
VDL Groep proposes to acquire all shares in Neways Electronics International
AMSTERDAM: VDL Groep B.V. has forwarded an indicative proposal to Neways Electronics International N.V. to acquire all outstanding shares in the capital of Neways. VDL Groep is a large shareholder in Neways. The indicative offer price is EUR 12.50 (cum dividend) in cash for each Neways share. Consistent with their fiduciary duties, the Board of…
MSCI Semi Annual Index Review May’21
§ Pakistan’s equity market has recorded a decrease of 2.2% or 1,002pts (USD based return of +0.67%) since the last MSCI semiannual review back in Feb’21. § At present, Pakistan has a weight of 0.016% in MSCI EM. What to expect May’21 SAIR § As per MSCI Global Index Methodology Apr’21, the criteria for Emerging Markets includes full…
Supernet Limited plans listing of its shares on Pakistan Stock Exchange
KARACHI: Supernet Limited, a wholly owned subsidiary of Telecard Limited, is exploring the option of listing its shares on Pakistan Stock Exchange (PSX) through an initial public offering, a bourse filing said. Telecard is actively looking towards enhancing its footprint in technology sector and feels confident that it will do so in coming months while…
Horisont Energi becomes newest member of the European Clean Hydrogen Alliance
SANDNES: Horisont Energi, the Norwegian carbon tech start-up, is further expanding its commitment to clean energy by joining the European Clean Hydrogen Alliance (ECH2A). The European Clean Hydrogen Alliance was formed as part of the European Union’s New Industrial Strategy for Europe in July 2020 in the context of the hydrogen strategy for a climate-neutral…
DGO announces $135 million acquisition of Cotton Valley upstream assets from Indigo Minerals LLC
LONDON: Diversified Gas & Oil plc (DGO) announced the $135 million conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana from Indigo Minerals LLC. Diversified Gas & Oil plc’s strategy of acquiring producing assets supported by their existing operational personnel is naturally and highly transferable to other…
BBGI Global Infrastructure completes a social infrastructure investment in London, UK
LONDON: BBGI Global Infrastructure S.A. has completed the acquisition of a 100% interest in a social infrastructure investment consisting of two recreation facilities and 100 affordable residential units across two sites in the London Borough of Tower Hamlets, UK. The public-private partnership project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of…
Headlam Group disposes of Swiss business, Belcolor AG for £12 million
LONDON: Headlam Group has entered into an agreement to dispose of its wholly-owned Swiss business, Belcolor AG, to the management team of Belcolor (management buyout). As a result of the disposal, Headlam will realise approximately £12.0 million in cash. Belcolor is a floorcoverings distribution business based in St. Gallen, Switzerland, and represents the entirety of…
Restore Plc to acquire Rainbow HoldCo Limited (EDM Group Limited) for £61 million
LONDON: Restore plc has entered into an agreement to acquire Rainbow HoldCo Limited, which trades as EDM Group Limited. The acquisition represents a strategically important transaction for Rstore Plc aligned to its stated acquisition criteria which will be additive to its core Records Management business and transformational for its growing digital business. Following the initial…
Zenith Energy to acquire Candax Energy Limited
LONDON: Zenith Energy Ltd. Announced that its recently incorporated subsidiary Compagnie Du Desert Ltd (CDD) has entered into a share purchase agreement (SPA) with Candax Energy Limited for the acquisition of a 100 percent interest in Candax’s fully owned subsidiary in Barbados, Ecumed Petroleum Tunisia Ltd (EPT), which holds a 100% interest in the El…