LONDON: Derwent London has agreed and signed a new five-year £450 million revolving credit facility (RCF) from HSBC UK, Barclays and NatWest. The financing includes a ‘green’ tranche of £300 million, making it the first revolving credit facility provided to a UK REIT that meets the LMA Green Loan Principles. Derwent is the largest London-focused…
Altus Strategies completes royalty and property transaction with Desert Gold
LONDON: Altus Strategies, the Africa focused project and royalty generator, announced the successful completion of the royalty and property sale transaction with Desert Gold Ventures Inc. on the Company’s contiguous Sebessounkoto Sud and Djelimangara gold projects located in western Mali. The transaction has closed in accordance with the Term Sheet between Altus and Desert Gold,…
Ten Lifestyle Group wins contract to expand in the Americas
LONDON: Ten Lifestyle Group has won a competitive tender with an existing global client to significantly expand its services in the Americas. Ten Lifestyle will take over from the client’s incumbent supplier to provide its digital and high-touch concierge services early in the new calendar year. Ten Lifestyle Group plc is a leading, global travel…
SIMEC signs equipment and services supply contract with Kyuden Mirai
LONDON: SIMEC Atlantis Energy Limited (SAE), the global developer, owner and operator of sustainable energy projects, has signed a contract to supply tidal generation equipment and offshore construction services to Japan’s Kyuden Mirai Energy (KME) for a demonstration project in Japan. The project, located in the straits of Naru Island within the southern Japanese Goto…
Petra Diamonds launches Artisanal small scale mining initiative in Koffiefontein
LONDON: Petra Diamonds Limited, a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market, has announces the launch of an Artisanal Small Scale Mining (ASM) initiative in the Free State town of Koffiefontein in South Africa. This follows a process of extensive consultation and cooperation with…
Shell announces commencement of trading in next tranche of its share buyback programme
LONDON: Royal Dutch Shell has commenced trading in the next tranche of its share buyback programme previously announced on July 26, 2018 with an intention to buy back at least $25 billion of its shares, a notice issued to London Stock Exchange (LSE) noted. In the next tranche, the company has entered into an irrevocable,…
S&P revises outlook on Powerlong to stable from negative
HONG KONG: S&P Global Ratings has revised its outlook on Powerlong to stable from negative given enhanced debt control. At the same time, S&P affirmed ‘B+’ long-term issuer credit rating on the China-based developer, and the ‘B’ long-term issue rating on the company’s senior unsecured notes. The stable outlook reflects that Powerlong will maintain its…
Exyte gets “Excellent Contractor” award by GCLSemi
SHANGHAI: Exyte Group is presented the “Excellent Contractor” award by GCLSemi. The award is in recognition of Exyte’s achievement of 800,000 safety work hours during the construction of GCLSemi’s silicon wafer manufacturing cleanroom project in Xuzhou, China. Exyte is the global leader in the design, engineering and delivery of high-tech facilities, plants and factories. Exyte…
S&P revises Nokia’s outlook to negative on weak cash flow prospects
FRANKFURT: S&P Global Ratings revised telecom network equipment vendor Nokia outlook to negative on weaker cash flow prospects, and affirmed the rating at ‘BB+’. “Nokia needs to step up investments in its 5G products during a critical stage when market demand is ramping up,” S&P noted. The negative outlook reflects the possibility of a one-notch…
Profits of Qatari listed companies decline 5.3% in the 3rd quarter of 2019
DOHA: All of Qatar Stock Exchange (QSE) listed companies have disclosed their financial results for the period ended September 30, 2019. The results show a net profit of QR 29.5 billion compared to QR 31.1 billion for the same period last year, with a decrease of 5.3%. Qatar’s economy has taken a turn for the…
Aramex posts a meager 1.0 percent growth in Q3 net profit
DUBAI, UAE: Aramex today announced its financial results for the third quarter ended 30 September 2019, wherein the Q3 2019 revenues grew by 2% to AED 1.27 billion, compared to AED 1.239 billion in the corresponding period a year ago. Revenues would have grown by 5% excluding the company’s strategic restructuring of its operations in…
Block Energy signs gas sale agreement with Bago LLC
LONDON: Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has entered into a gas sales agreement with Bago LLC, one of the largest private gas suppliers and purchasers in Georgia, for the offtake of gas produced at the Company’s flagship West Rustavi field. Under the terms of the Agreement,…