SINGAPORE: Singapore Exchange (SGX) launched the third edition of its annual SGX Orb Awards to recognise excellence in financial journalism and content. Continuing the theme of “Connecting Perspectives and Inspiring Conversations,” this year’s special category focuses on the resilience of financial markets amid the COVID-19 pandemic. The coronavirus outbreak has exacerbated a backlash against globalisation,…
Supermarket Income REIT acquires portfolio of Waitrose supermarkets for £74.1 million
LONDON: Supermarket Income REIT announced the acquisition of a portfolio of supermarkets via a sale and leaseback transaction with Waitrose & Partners for £74.1 million, reflecting a net initial yield of 4.4%. The portfolio comprises six freehold supermarkets with an average gross internal area of 32,000 sq ft. The stores are let to Waitrose on…
Mobile Streams launching SaaS insight platform
LONDON: Mobile Streams announced it is launching, under the terms of its existing JV arrangement with Krunch, a SaaS (Software as a Service) insight platform. The SaaS Platform represents the natural evolution of the Company’s current ‘Streams’ platform and should enable customers to sign up for a customer driven, digital marketing tool providing many of…
Aviva appoints Amanda Blanc as Chief Executive Officer
LONDON: Aviva plc announced the appointment of Amanda Blanc as Chief Executive Officer with immediate effect. Amanda is currently an Independent Non-Executive Director at Aviva plc. She was appointed to the Aviva Board in January 2020 and chairs the Customer, Conduct and Reputation Board Committee. She was previously CEO, EMEA & Global Banking Partnerships at…
Maestrano Group announces partnership agreement with Esri Inc.
LONDON: Maestrano Group PLC, the Artificial Intelligence platform for transport corridor analytics, announced a partnership agreement with Esri Inc. and achievement of a major engineering milestone with ARTC. Partnership Agreement: Maestrano’s subsidiary, Corridor Technology, and Esri have signed a partnership agreement to formalise joint solution efforts around the world. This partnership includes a localised teaming…
Croda strengthens position in life sciences with $185 million acquisition of Avanti Polar Lipids
LONDON: Croda International Plc announced that it has agreed to acquire Avanti Polar Lipids Inc., a knowledge-intensive leader in lipid-based drug delivery technologies for next generation pharmaceuticals. Croda has acquired Avanti for an initial consideration of $185 million on a debt and cash-free basis, with an additional earnout of up to $75m based on near-term…
Rostelecom leads the market for the number of public WiFi hotspots: TMT Consulting rating
MOSCOW: Rostelecom PJSC, the largest integrated digital service provider in Russia, announced that according to ratings provided by TMT Consulting, an independent consulting agency, Rostelecom leads the market for the number of public WiFi hotspots. According to TMT Consulting, market volume for public WiFi hotspots grew by 23% over the last year in Russia to…
Waleed Al Mokarrab Al Muhairi appointed Chairman of the Board of Arabtec Holding
DUBAI: Arabtec Holding PJSC, a leading contractor for social and economic infrastructure, announced the appointment of Waleed Al Mokarrab Al Muhairi upon his election as a new member of the Board of Directors of Arabtec Holding PJSC. He succeeds Mohamed Thani Al Rumaithi who tendered his resignation as Chairman of the Board. Arabtec’s Board of…
Amlak Finance signs partnership agreement with Dubai Land Department
DUBAI: Amlak Finance PJSC, a leading specialised Islamic real estate financier, announced a newly formed partnership with Dubai Land Department (DLD). This strategic cooperation aims at allowing customers to invest in ready and well-maintained properties listed by Amlak Finance via easy instalment payment plans for a tenure of up to six years. The agreement was…
Berkshire Hathaway Energy to acquire Dominion Energy’s gas transmission and storage business for $9.7 billion
DES MOINES: Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., announced it has executed a definitive agreement to acquire Dominion Energy’s natural gas transmission and storage business. The transaction has an enterprise value of approximately $9.7 billion. The assets include over 7,700 miles of natural gas transmission lines, with approximately 20.8 billion…
Uber acquires food-delivery service Postmates for $2.65 billion in stock
NEW YORK: Uber has announced to have bought food-delivery service Postmates for $2.65 billion in stock. Uber is banking on food delivery to help sustain its business during the coronavirus pandemic, as demand for ride-sharing has plunged. In its first-quarter earnings call, Uber said that gross bookings revenue for its Rides segment was down 80% in…
DFM reopens its trading floor for investors as of Tuesday July 7th
DUBAI: The Dubai Financial Market (DFM) has announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday 7th July 2020, with the strict implementation of precautionary measures for the safety of clients and employees It is noteworthy that the DFM Trading Floor and Customer Affairs counters were temporarily…