SINGAPORE: Avation Plc, the commercial passenger aircraft leasing company, announced that it has delivered a second new ATR 72-600 aircraft to the South Asian airline US-Bangla Airlines. The operating lease of this aircraft, with manufacturer’s serial number 1563, is at market rates. Avation’s Executive Chairman Jeff Chatfield said, “We are pleased to complete this second…
Wesfarmers completes acquisition of Kidman Resources
PERTH: Wesfarmers Limited has announced the implementation of the Scheme of Arrangement under which Wesfarmers Lithium Pty Ltd, a wholly owned subsidiary of Wesfarmers Limited, has acquired all of the issued ordinary shares in Kidman Resources. With the completion of the transaction, Wesfarmers holds a 50 percent interest in the Mt Holland lithium project based…
Pakistan’s textile sector exports decline 5.32% to $1.19bn in August
KARACHI: Country’s overall textile sector exports declined 5.32 percent to $1.19 billion in August 2019 compared with exports of $1.25 billion recorded in the same period last year, data issued by Pakistan Bureau of Statistics suggest. “Lower prices obtained by exporters during the month was the key reason for declining textile exports, which was presumably…
Ahli Bank successfully completes a new 5 year bond transaction raising $500mn
DOHA: Ahli Bank has completed its third bond issuance for US$ 500 Million under its US$ 1.5 Billion EMTN Programme in the international debt capital markets. The 5 year bond has been assigned an A2 credit rating with a stable outlook by Moody’s and carries a coupon rate of 3.125% and was significantly oversubscribed by…
Sunpower’s 37th design project in Indonesia achieves successful grid connection
SINGAPORE: Sunpower Group announced that Indonesia Jinchuan WP & RKA Lateritic-Nickel-Ore Project power plant, designed by Sunpower’s subsidiary Yangguang Engineering Design Institute Co., Ltd has successfully achieved grid connection in all three units. Sunpower is an environmental protection solutions specialist with a strong focus on expanding into anti-pollution investment projects that generate long-term intrinsic value…
Strategic Elements partners to develop artificial intelligence software for mines
PERTH, AUSTRALIA: Strategic Elements Ltd announced that its artificial intelligence and robotics company Stealth Technologies has signed a binding Heads of Agreement to apply artificial intelligence to fixed plant operations in mining and deliver a Software as a Service (SaaS) solution. A binding Heads of Agreement was signed with Global Integrated Operations (Global io), who…
LCT to benefit from Semma Therapeutics acquisition by Vertex
AUCKLAND: Living Cells Technologies (LCT) holds 121,995 shares in Semma Therapeutics, worth an anticipated USD 838,105 which would be realised on Vertex Pharmaceuticals Incorporated completing its acquisition of Semma Therapeutics. The acquisition is anticipated to close in the fourth quarter of 2019, subject to certain conditions. Semma Therapeutics, a privately held biotechnology company pioneering the…
Cedar Woods contracts to acquire prime infill site in Hamersley, Perth
SYDNEY: Cedar Woods Properties Limited has signed a conditional contract to acquire 179 Erindale Rd, Hamersley, Western Australia from Broadcast Australia for $21.2 million, plus GST. The acquisition remains conditional on the vendor obtaining town planning and environmental approvals, de-risking these steps for the Company. The 12.4 ha residential site is located only 14kms from…
JCR withdraws application for additional marketing approval of TEMCELL
TOKYO: JCR Pharmaceuticals Co., Ltd. has withdrawn its application with the Ministry of Health, Labour and Welfare of Japan for additional marketing approval of TEMCELL HS Inj., allogeneic bone marrow-derived mesenchymal stem cells, for the indication of epidermolysis bullosa (EB). Following the filing of the application for EB in March 2019, JCR has had extensive…
AM Best revises outlooks to negative for Kansas City Life Insurance Company
NEW YORK: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Kansas City Life Insurance Company. Concurrently, AM Best has revised the outlooks to negative from stable and affirmed the FSR of A-…
Credit ratings of operating subsidiaries of MGIC Investment Corporation affirmed
OLDWICK: AM Best has affirmed the financial strength rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of certain operating subsidiaries of MGIC Investment Corporation, which are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, MGIC Assurance Corporation and MGIC Reinsurance Corporation of Wisconsin. The outlook of these Credit Ratings is stable. The…
Renewables can lead the world’s response to climate change
NEW YORK: The International Renewable Energy Agency (IRENA) will deliver a clear message to policy makers, civil society leaders and business decision makers in New York during the 74th Session of the UN Assembly and the Climate Action Summit next week, a press release said. The Agency will reinforce the fact that limiting climate change…