LONDON, UK: GCM Resources plc has agreed an extension of the memorandum of understanding (MoU) with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC) and Power Construction Corporation of China, Ltd. (PowerChina), for a further three months, on the same terms as previously announced. The extension enables the Company to continue to…
Avingtrans’ Hayward Tyler gets £2 million solar contract in Dubai
LONDON: Avingtrans PLC’s subsidiary Hayward Tyler has been awarded a £2 million contract to supply a glandless pump package to major Chinese EPC, Shanghai Electric (Group) Corporation, for installation at Bin Rashid Al Maktoum Solar Park Phase IV, a 950MW Concentrating Solar Power (CSP) and Photovoltaic (PV) Hybrid IPP. The project will make use of…
Rostelecom completes acquisition of DataLine
MOSCOW, RUSSIA: Rostelecom’s subsidiary Rostelecom Datacenters has completed the deal to acquire a 100% share of DataLine, the second largest datacentre provider in Russia. The Board of directors approved the deal on 20 November 2019. Rostelecom is the Russia’s largest digital communication services provider. Mikhail Oseevskiy, President of Rostelecom, commented: “The acquisition of DataLine strengthens…
AM Best affirms credit ratings of EyeMed Insurance Company
OLDWICK: AM Best, a global credit rating agency, news publisher and data provider specializing in the insurance industry, has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of EyeMed Insurance Company (EIC) (Phoenix, AZ). The outlook is stable. EIC, along with EyeMed Vision Care LLC,…
Jaguar Land Rover sales surge 1.3% in December 2019
WHITLEY, UK: Jaguar Land Rover reported retail sales of 52,814 vehicles for December 2019, 1.3% up on the previous year. For the month of December, Jaguar Land Rover retail sales were boosted by China (up 26.3% year-on-year), a sixth successive month of double-digit growth. This offset lower sales in North America (-1.1 %), UK (-2.9%),…
SGX RegCo enhances rules governing listings review, increases oversight and due diligence standards
SINGAPORE: Singapore Exchange Regulation (SGX RegCo) is incorporating The Association of Banks in Singapore (ABS) Listings Due Diligence Guidelines (ABS Guidelines) and Issue Managers (IM) independence requirements into the Mainboard Listing Rules, a press release said. SGX RegCo is also strengthening its oversight of IMs as part of overall enhancements to regulations governing the Mainboard…
Zalaris wins extension of SAP Application Management Services agreement
OSLO: Zalaris ASA, the provider of Payroll and HR Solutions, has won the extension of its SAP Application Management Services (AMS) agreement with the German state North Rhine-Westphalia. The four-year contract covers the delivery of up to 5000 mandays of consulting capacity to be delivered from Zalaris’ German Professional Services organization. The agreement encompasses SAP…
Sayona Mining secures U.S. investor backing to advance key projects
PADDINGTON: Emerging lithium miner Sayona Mining Limited has announced support from a new U.S. investor, amid an upturn in the lithium sector and increasing momentum concerning the Company’s bid for the North American Lithium mine in Quebec, Canada. Under an agreement with Obsidian Global GP, LLC, a New York-based investment firm, Sayona has secured a…
Melos Sulicich to leave MyState Limited in July 2020
HOBART: MyState Limited, the Tasmania based banking and wealth management group, announced that Managing Director and Chief Executive Officer, Melos Sulicich, has advised the Board of his decision to resign and in accordance with his contract will be leaving the company in July 2020. Chairman of MyState, Miles Hampton said that Sulicich who joined the…
Bush fire damages SeaLink’s Vivonne Bay Lodge on Kangaroo Island
SYDNEY: SeaLink Travel Group Limited advised that significant damage has been sustained to the SeaLink owned Vivonne Bay Lodge at Vivonne Bay on Kangaroo Island as a result of recent bush fire activity. The full extent of the damage is not yet known and a further assessment of damage will be undertaken in the coming…
STL acquires 12.8% stake and Board representation in ASOCS
SANTA CLARA: Sterlite Technologies Ltd (STL), a global data networks innovator, has acquired a 12.8% stake and Board representation in ASOCS, a developer of open, disruptive and virtualized Radio Access Network (vRAN) solutions, delivering 4G and 5G for cellular networks. ASOCS is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully…
Great Portland sells 24/25 Britton Street for £64.5mn
LONDON: Great Portland Estates has exchanged contracts to sell 24/25 Britton Street, EC1 to an overseas investor for a headline sale price of £64.50 million. The headline price reflects a net initial yield of 4.07% and a capital value of £1,255 per sq ft. The premium to the September 2019 valuation was 6.2%. Completion is…