PARIS–(BUSINESS WIRE)– Total announced that it will focus its global venture fund on fostering carbon neutrality. The fund will increase its capital to a cumulative $400 million within five years’ time. Its investments will support start-ups that develop innovative technologies and solutions which help companies to reduce their energy consumption or the carbon intensity of…
S&P upgrades Australia’s Banking Industry and ANZ’s ratings
SYDNEY: S&P Global Ratings (S&P) announced it has increased the stand-alone credit profiles (SACP) of ANZ and the other major Australian banks by one notch to ‘a’ from ‘a-’. S&P stated that this reflects “the reduced economic risks we see in the Australian banking system due to an orderly correction in national house prices and…
Esterad Investment posts BD 1.17 million profits for the nine months of 2019
BAHRAIN: Esterad Investment Company (ESTERAD) announced at a meeting of its board of directors on Wednesday 23rd October 2019, the nine months financial results for the current year including the financial results of third quarter. Esterad achieved a net profit (attributable to the shareholders of the parent company) during the third quarter of 2019 amounting…
Asia set to become dominant market for wind energy
BEIJING: Asia could grow its share of installed capacity for onshore wind from 230 Gigawatt (GW) in 2018 to over 2600 GW by 2050, a new report by the International Renewable Energy Agency (IRENA) finds. By that time, the region would become a global leader in wind, accounting for more than 50 per cent of…
Etihad and Air Arabia join hands to launch Abu Dhabi’s first low-cost carrier
DUBAI: Etihad Aviation Group, owner of the national airline of the United Arab Emirates, and Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, announced the signing of an agreement to launch ‘Air Arabia Abu Dhabi’, the capital’s first low-cost carrier. Etihad and Air Arabia will establish an independent joint venture…
Deyaar reports revenues of AED 483.3 million for the nine months of 2019
DUBAI: Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its financial results for the nine months ended 30 September 2019. The company reported revenues of AED 483.3 million for the nine months ended 30 September 2019, an increase of 3.6% compared to AED 466 million in the same period…
AM Best affirms credit ratings of Marble Reinsurance Corporation
HONG KONG: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Marble Reinsurance Corporation. The outlook of these Credit Ratings is stable. The ratings reflect Marble Re’s balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, neutral…
PipeHawk acquires Wessex Precision Instruments Limited
LONDON: PipeHawk Plc has acquired the entire issued share capital of Wessex Precision Instruments Limited for a consideration of £1. Wessex produces and sells a range of equipment for testing the slip resistance characteristics of aggregates used in public areas, including in supermarkets and around swimming pools. The Board believes that the Wessex business presents…
Costain Group joint venture selected by Southern Water as AMP7 Partner
LONDON: Costain Group, the smart infrastructure solutions company, and its existing joint venture partner MWH Treatment, have been selected by Southern Water to extend the AMP6 contract as part of the water company’s AMP7 investment programme. Under the extended contract the joint venture will bring together its consultancy, design, digital, construction and commissioning expertise to…
Sativa Group gets Controlled Drug Licence
LONDON: Sativa Group’s wholly owned subsidiary Sativa Cultivation and Extraction Ltd, has been awarded a Controlled Drug licence for cannabis (with THC content of greater than 0.2%) cultivation, production, possession and supply, at its Somerset headquarters, by the UK Home Office. Sativa Group is the UK’s leading quoted CBD wellness and medicinal cannabis Group. The…
Good Energy launches EV charging for UK businesses
LONDON: Good Energy Group, the 100% renewable electricity supplier and innovative energy services provider, has launched One Point, a new electric vehicle (EV) charging offering for UK businesses alongside the first pilot of the scheme with Watergate Bay Hotel in Cornwall. The electric vehicle (EV) market is currently fragmented and complex, but it will soon…
US Solar Fund enters exclusivity to acquire operational solar portfolio in North Carolina
NEW YORK: US Solar Fund (USF) has entered exclusivity with Greenbacker Renewable Energy Corporation, a leading investor and product sponsor focusing on income-producing renewable energy projects, to acquire an approximately 39MWDC operating utility-scale solar power portfolio consisting of eight projects located in North Carolina. In keeping with the Company’s investment policy, all projects have long-term…