KARACHI: Coal-based electricity generation witnessed 94.5 percent growth in November 2019 to reach 2,030 GWh taking coal’s share in country’s energy mix to 27 percent, data issued by National Electric Power Regulatory Authority (NEPRA) suggests. “Induction of China Power Hub Generation and Engro Powergen Thar in the system was the primary reason behind this surge,”…
Huawei ranked 5th in 2019 EU Industrial R&D Investment Scoreboard
DUBAI: Huawei has been ranked fifth on the recently released 2019 EU Industrial R&D Investment Scoreboard as one of the biggest investors in research and development worldwide. The Scoreboard is made up of the 2,500 companies investing the largest sums in research and development in the world, with data collected from companies’ annual reports and…
Oakum Cannabis harvests first crops from RotoGro Rotational Hydroponic Garden Systems
MELBOURNE: Roto-Gro World Wide (Canada) Inc., a wholly-owned subsidiary of Roto-Gro International Limited announced that Oakum Cannabis Corporation, formerly Frozen Penguin Medical Industries, has harvested its first large scale commercial lawful cannabis crops, cultivated with 48 of its recently installed and commissioned RotoGro Rotational Hydroponic Garden Systems. Oakum has successfully initiated and conducted commercial operations…
Pact Group to divest its contract manufacturing division
SYDNEY: Pact Group Holdings Ltd has commenced a sale process in respect of its Contract Manufacturing division, and appointed Citigroup to assist in the sale process. The Group’s Contract Manufacturing division, which includes the combined businesses of Jalco, Pascoe’s and Australian Pharmaceutical Manufacturers, is a leading supplier of contract manufacturing services in Australia for the…
HRnetGroup Limited forms joint venture in Indonesia
SINGAPORE: HRnetGroup Limited has announced the incorporation of a joint-venture entity, PT Recruit First Indonesia (RFI) for manpower activity services in Indonesia. HRnetGroup Limited is a Singapore-based recruitment agency. The Company operates through two segments: flexible staffing and professional recruitment. Debby Rimbun and Rubby Rimbun will be co-investing and leading the business of RFI. As…
CapitaLand recognised one of the world’s most sustainable corporations
SINGAPORE: CapitaLand Limited has been recognised as one of the world’s most sustainable corporations for the third consecutive year. CapitaLand was ranked 63 in the 2020 Global 100 ‘Most Sustainable Corporations In The World’ index by Corporate Knights Inc. This is CapitaLand’s eighth inclusion in the prestigious index. In Corporate Knights Inc’s analysis of company…
Rostelecom establishes strategic partnership with Russian Internet Initiatives Development Fund
MOSCOW: Rostelecom PJSC and the Internet Initiatives Development Fund (IIDF) are establishing a strategic partnership, launched to develop the Russian venture capital market. Rostelecom will collaborate with IIDF by joining the Fund’s Investment Division charter capital “IIDF Invest” – a shareholder in more than 350 IT start-ups. Rostelecom investments will boost the fund’s portfolio and…
Aberdeen completes €49.9 million acquisition of logistics warehouse in Den Hoorn
LONDON: Aberdeen Standard European Logistics Income has completed its acquisition of the freehold logistics warehouse in Den Hoorn, the Netherlands, for a net value of €49.9 million, providing a net initial yield of 4.5%. This is a newly built warehouse on a perpetual leasehold with the option to purchase the freehold from the local municipality….
TRIG signs contract to acquire Blary Hill Energy Limited
LONDON: The Renewables Infrastructure Group (TRIG) has exchanged contracts to acquire a 100% interest in Blary Hill Energy Limited, with the rights to construct a 35MW wind farm located on the Kintyre Peninsula, West Scotland. The investment is expected to complete during Q1 2020. The project, developed by RES, will consist of 14 Nordex N90…
Caledonia Mining acquires 15% stake in Blanket Mine
ST HELIER: Caledonia Mining Corporation has completed the purchase of an additional 15 percent shareholding in Blanket Mine for $16.667 million. On November 6, 2018, Caledonia announced it had entered into a legally binding agreement with Fremiro Investments (Private) Limited to purchase Fremiro’s 15 percent shareholding in Blanket Mine. Completion of the purchase required approvals…
Cambria acquires Aston Martin and Rolls-Royce cars franchise for £1.6 million
LONDON: Cambria Automobiles has announced the acquisition of one Aston Martin franchise and one Rolls-Royce Motor Cars franchise in Edinburgh from the administrator of Leven Cars Group Limited. The total cash consideration, which includes one freehold and one leasehold property along with certain fixed assets, is £1.6 million and this will be funded from the…
Pennant International to acquire Absolute Data Group for AUD 6.5 million
LONDON: Pennant International Group has exchanged contracts to acquire the entire issued share capital of Australian software business, Absolute Data Group (ADG). The maximum consideration for the acquisition is AUD 6.5 million (£3.44 million), subject to adjustment on completion for cash, working capital and debt. 50% of the price is payable upfront with AUD 0.325…