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,…
Argo Blockchain to increase mining capacity by 240%
LONDON: Argo Blockchain, a leading enterprise-scale cryptominer based in the UK, has amended and expanded its existing order for mining equipment from leading supplier, Bitmain. The Company’s existing order for 5,000 Antminer S17s costing $13.09M USD has been replaced by an order for 10,000 Antminer T17s costing $9.51M USD. Argo’s existing S17 down payment of…
Sound Energy sings MoU for sale of gas in the Tendrara concession
LONDON: Sound Energy, the Moroccan focused upstream gas company, announces that it has signed a memorandum of understanding for the sale of the Company’s natural gas production in the Tendrara concession in Eastern Morocco. The Company announces that it continues to negotiate the detailed terms of a Gas Sales Agreement (GSA) and confirms that, as…
Bango signs agreement with NHN ACE
CAMBRIDGE, UK: Bango Plc, the mobile commerce company, has signed an agreement with NHN ACE, the South Korean big data digital advertisement company. Through the partnership, global app developers can easily target their offers and promotions to high value mobile and internet users in Korea. Under the agreement, NHN ACE and Bango are making audiences…
Sativa’s George Botanicals enters into a brand partnership with SHS Sales & Marketing
LONDON: Sativa Group Plc, the UK’s leading quoted CBD wellness and medicinal cannabis Group, announced that its wholly owned subsidiary, George Botanicals, has entered into a brand partnership agreement with SHS Sales & Marketing (GB) Limited. SHS will distribute a range of “Goodbody Botanical” branded products to UK high street grocery, pharmacy and specialist customers…
Shearwater’s Brookcourt secures contract with a multinational telecommunications company
LONDON: Shearwater Group, the organisational resilience group, announced that its group company Brookcourt Solutions has secured a €0.5 million contract with a leading multinational telecommunications company for the extension of its recent Pan-European Data Protection Project. This new contract extends Brookcourt Solutions original €4 million contract win 18 months ago where the business was commissioned…
Commerzbank publishes voluntary public acquisition offer for comdirect
FRANKFURT: Commerzbank AG published the offer document relating to the voluntary public acquisition offer for all the outstanding shares of comdirect bank Aktiengesellschaft. Commerzbank already holds around 82 percent of the shares in comdirect. The other 18 per cent are in free float. The aim is to merge comdirect into Commerzbank so as to draw…