LONDON: Telstra Corporation Board Chairman, John Mullen today announced the appointment of a new Director, Bridget Loudon as a non-executive Director of the Telstra Board. Bridget is an Australian born entrepreneur and business leader who spent many years living, working and studying in France, Hong Kong and Ireland. She returned to Australia in 2010 to…
SALAMA 2020 half-year net profit increases 41.03% to AED 47.05mn
DUBAI: Islamic Arab Insurance Company, listed as “SALAMA” on Dubai Financial Market (DFM), announced its interim results for the first six months of 2020 reporting net profit of AED 47.05 million compared with profit of AED 33.36 million in H1 2019. SALAMA reported growth of 6.9% in gross written contribution, from AED 650m in H1…
Urban Logistics REIT announces three acquisitions and new £151mn loan facility
LONDON: Urban Logistics, the specialist UK industrial and logistics REIT, announced three acquisitions for a total consideration of £36.8 million in Colchester, Exeter and Nottingham and the signing of a new £151 million loan facility. Colchester: On 10 July 2020, the Company acquired Interchange Park, located on the A12 / A120 in Essex, for £9.8…
Dar Al Takaful appoints Rajesh Sethi as CEO after acquisition of Noor Takaful
DUBAI: Dar Al Takaful announced the completion of acquisition of UAE-based Islamic insurance provider, Noor Takaful, with Rajesh Sethi appointed as the Chief Executive Officer (CEO) of the joint entities. Sethi brings over 30 years of experience in the banking, investment banking, and insurance sectors. Previously, he has worked in leadership roles across Asia, Europe…
McKay Securities acquires Thames Valley logistics asset for £10 million
LONDON: McKay Securities Plc announced the acquisition of 1-4 Willoughby Road, a fully let logistics asset in Bracknell, for £10 million, representing a net initial yield of 5.6%. The property was sourced off market from a UK institutional vendor. McKay Securities Plc is a commercial property investment company with Real Estate Investment Trust (REIT) status,…
Oman Insurance reports profit of AED 110.2 million in the first half of 2020
DUBAI: Oman Insurance Company, one of the leading insurance providers in the Middle East, announced it has posted a Net Profit of AED 110.2 million in the first half of 2020, a four percent increase on the same period last year while having increased its solvency above 250%. Total Gross Premium Written (GPW) at the…
Appreciate Group sells its subsidiary Budworth Properties Ltd for £3.2 million
LONDON: Appreciate Group plc has completed the sale of Budworth Properties Ltd, a Group subsidiary which owns the land and buildings located at Valley Road, Birkenhead to HP (Valley Road) Limited for a cash consideration of £3.2 million. Appreciate Group is the UK’s leading multi-retailer redemption product provider to corporate and consumer markets. The land…
Heavily impacted by COVID-19, Air Arabia posts a net loss of AED 169 million
SHARJAH: Air Arabia registered a net loss of AED 169 million for the first half ending June 30, 2020, a direct result of second quarter performance being heavily impacted by COVID-19 and the subsequent cancellation of scheduled flight operations. Air Arabia (PJSC), the first and largest low cost carrier (LCC) in the Middle East and…
Actual Experience signs agreement with Verizon to deliver digital user experience improvement
LONDON: Actual Experience plc, the analytics-as-a-service company, has signed an addition to its Master Services Agreement with Verizon for Actual Experience’s Human Experience Management (HXM) offering, a news release said. HXM enables organisations to improve the employee experience of their digital business applications by reducing down time and wait time. HXM helps quantify wasted time…
Clarkson PLC , Shipping
Clarkson PLC, often referred to simply as Clarksons, is a provider of shipping services, and is headquartered in London. In 2011, Lloyd’s List described the company’s shipbroking service as the “undisputed heavyweight of the shipbroking market”. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Clarkson operations…
City of London Group plc
City of London Group plc is a United Kingdom-based investment company. The company is listed on the FTSE Fledgling Index of the London Stock Exchange under the ticker CIN in the financial services sector.] The company focuses on specialist financing and alternative fund management. Traded as: AIM: CIN Industry: Financial services Headquarters: London, EC3 United…
Cineworld Group Plc
Cineworld Group is a British cinema company and is the world’s second largest cinema chain, with 9,518 screens across 790 sites in 11 countries: the UK, the US, Canada, Ireland, Poland, Romania, Israel, Hungary, Czechia, Bulgaria and Slovakia. The group’s primary brands are Regal (in the US), Cineworld and Picturehouse (in the UK & Ireland),…