LONDON: Begbies Traynor Group announced the acquisition of the entire issued share capital of Alexander Lawson Jacobs Limited (ALJ), a London-based insolvency and business recovery practice. ALJ is a well-established firm and is ranked as a top 20 UK insolvency practice (by insolvency appointments). The team of 24 directors and employees will join the group…
Kropz and PhosAgro sign MoU to exchange technical expertise
LONDON: Kropz plc, an emerging African phosphate producer, has signed a memorandum of understanding with PhosAgro Group, one of the world’s leading producers of phosphate-based fertilizers, during the Russia-Africa Economic Forum in Sochi, Russia. The two companies have agreed to evaluate opportunities to exchange information and technical expertise in order to increase the capacity of…
Telit completes successful first live 5G tests of new industrial-grade 5G product
LONDON Telit Communications, a global enabler of the Internet of Things (IoT), has announced a successful series of tests of its new industrial-grade FN980m 5G data card. Conducted on a live 5G network in Korea, the tests highlight Telit’s leadership in providing businesses and other organizations with 5G solutions for industrial routers and gateways, fixed…
NLMK Board approves Sustainable Development Policy
MOSCOW: The Board of Directors of Novolipetsk Steel NLMK Group, a global steel company, has approved the Company’s Sustainable Development Policy. The Policy defines NLMK Group’s sustainability principles, goals and targets, as well as the mechanism for oversight of the Company’s ESG agenda by the NLMK Board of Directors. For example, NLMK’s Strategic Planning Committee…
SGX reports 1Q FY2020 net profit of S$114 million
SINGAPORE: Singapore Exchange (SGX) has reported 1Q FY2020 net profit of S$114.2 million with revenues of S$247.6 million. EBITDA came in at S$156.4 million and earnings per share was 10.7 cents. The Board of Directors has declared an interim dividend of 7.5 cents per share, payable on 11 November 2019. Loh Boon Chye, Chief Executive…
CPHGC and GE announce completion of 1,320MW power plant
KARACHI: China Power Hub Generation Company (Pvt.) Limited (CPHGC) and GE have announced successful completion of 1,320 MW power plant in Balochistan, which would lighten up to 4 million Pakistani homes. Under an agreement signed in 2016, GE supplied the project’s engineering, procurement and construction (EPC) contractors Northwest Electric Power Design Institute Co. Ltd. (NWEPDI)…
Total dedicates its $400 million global venture fund to carbon neutrality
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…