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…
Exscientia signs collaboration agreement with Bayer AG
LONDON: Frontier IP Group’s portfolio company, Exscientia, the leading Artificial Intelligence (AI)-driven drug discovery company, has entered a collaboration with Bayer AG that aims to accelerate the discovery of small molecule drugs focused on cardiovascular disease and oncology. Under terms of the agreement, Exscientia will initially work on three projects with targets agreed between both…
AM Best maintains Brazil reinsurance market outlook at negative
NEW YORK: AM Best continues to hold a negative outlook on Brazil’s reinsurance sector, due predominantly to macroeconomic instability and a declining interest rate environment that has led to lower investment income. A new Best’s Market Segment Report, titled, “Market Segment Outlook: Brazil Reinsurance,” states that investment income has been a major contributor to the…
Veidekke sells NOK 6.3 billion worth of residential units in 2019
OSLO: Veidekke ASA, Scandinavia’s largest construction and property development company, sold 256 residential units in the 4th quarter. Total sales for 2019 encompassed 1,166 residential units with a total value of NOK 6.3 billion. There were 2,215 units under construction at the end of 2019, and the sales ratio was 78%. Veidekke sold 256 residential…
CINECO signs agreement with Ban Management to multi-screen Cineplex at Amwaj Lifestyle Mall
MANAMA, BAHRAIN: Bahrain Cinema Company (CINECO) has entered into an agreement with Ban Management Co to develop and operate multi-screen Cineplex in Amwaj Lifestyle Mall, Amwaj Islands. Cineco is a dominant player in the entertainment business and currently operating a total of 53 cinema screens across different locations in Bahrain. The ‘Amwaj Village’ project by…