LONDON: Amigo Holdings PLC, a leading provider of guarantor loans in the UK, announced Jonathan Roe will join the Board as Non-Executive Director and Chairman designate. Jonathan’s appointment as a Non-Executive Director is expected to be effective from 1 August 2020. His appointment as Chairman will be subject to approval of the Financial Conduct Authority…
Inland Homes signs £49m agreement with B3Living to develop apartments in Cheshunt Lakeside
LONDON: Inland Homes plc, the leading brownfield housing company with a focus on the south and south-east of England, announced that it has exchanged unconditional contracts via its joint venture, Cheshunt Lakeside Developments Limited, to sell Phase 1a at its Cheshunt Lakeside, Hertfordshire project to a local housing association, B3Living, for £15 million with a…
Passenger traffic at Sydney Airport down 94.9%
SYDNEY: Total passenger traffic at Sydney Airport in June 2020 was 172,000 passengers, down 94.9% on the prior corresponding period. 32,000 international passengers passed through Sydney Airport in June, down 97.6%. Domestic passengers totalled 140,000 for the month, down 93.3%. While domestic passengers noticeably increased in June when compared with April and May, Sydney Airport…
Qatar Electricity and Water posts profit of QR 661 million
DOHA: Qatar Electricity and Water (QEWC) posted a net profit of QR 661 Million (net of non-controlling interests) for the half-year ended June 30, 2020 against QR 620 million for the same period of the year 2019. The Earning per Share (EPS) amounted QR 0.60 in 2020 compared to QR 0.56 for the same period…
New India Assurance downgraded due to deficiencies in financial reporting
SINGAPORE: The global insurance sector rating agency has revised the outlook for New India Assurance Company Limited to Negative from stable earlier, as the company’s deficiencies in financial reporting continue to result in audit qualifications. Whilst the company’s audited accounts have been qualified for several years as a result of internal control weakness in the…
Halo Labs completes C$5.682 million acquisition of Bophelo, appoints Louisa Mojela as Chair
TORONTO: Halo Labs Inc. has closed its previously announced acquisition of Bophelo Bioscience & Wellness (Pty) Ltd., a news release said. Halo now controls 100% of the issued and outstanding shares of Bophelo. Concurrently with closing, Ms. Louisa Mojela was appointed as a director and Chairman of Halo’s board of directors and Mr. Philip Van…
NexTech AR launches ScreenAR, video conferencing and virtual events solutions
TORONTO: NexTech AR Solutions (NexTech) has launched the new immersive video conferencing software called ScreenAR, a news release said. The new capabilities are seamlessly integrated into its InfernoAR platform using its ARitize app. The new AR features will allow for AR experiences to “pop” off the computer screen creating a one-of-a-kind immersive experience that everyone…
Humach acquires InfinitAI
PLANO: Humach LLC, a leading agent and technology outsourcer, has completed the acquisition of InfinitAI, a Colorado-based provider of purpose-built artificial intelligence (AI) technology and conversational design interface for contact center agent assistance. InfinitAI will accelerate Humach’s vision for intelligent contact centers that combine the strengths of both humans and machines to deliver exceptional customer…
Scatec Solar doubles production, progressing large project opportunities
OSLO: Scatec Solar’s second quarter 2020 proportionate revenues reached NOK 925 million with an EBITDA of NOK 417 million and associated EBITDA margin of 45%. Power production reached 406 GWh on proportionate basis, a doubling of electricity production from the same quarter last year. As the current portfolio of projects under construction is almost complete,…
Fjordkraft acquires Innlandskraft, strengthens position as leading electricity supplier in Norway
OSLO: Fjordkraft Holding ASA has entered into an agreement for the acquisition of 100% of the shares in Innlandskraft AS, a news release said. The key terms of the Transaction are as follows: The Transaction will be structured as an acquisition of all shares in the Target by the Company, from Gudbrandsdal Energi Holding AS…
AM Best affirms credit ratings of Arabia Insurance Company
LONDON: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of ARABIA Insurance Company s.a.l. (AIC) (Lebanon). The outlook of these ratings is negative. The ratings reflect AIC’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral…
AM Best affirms ratings of State Automobile Mutual Insurance and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of State Automobile Mutual Insurance Company (State Auto) and its operating subsidiaries. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of State Auto’s intermediate holding company, State Auto Financial Corporation…