KARACHI: Pakistan’s overall car sales continued its downward trend and witnessed a decline of 41% YoY during August 2019, which is mainly attributable to higher auto prices post rupee devaluation and overall economic slowdown. Highest decline was witnessed in the sales of Honda Cars (Honda), which declined 67% YoY, followed by Indus Motors (Toyota) down…
Prosus lists on Euronext
AMSTERDAM: Euronext has congratulated Prosus (PRX), the global consumer internet group and one of the largest technology investors in the world, on its listing in Amsterdam. The listing of Prosus on Euronext Amsterdam further strengthens Euronext’s position as the leading European platform for global tech companies who seek access to the worldwide capital markets. Prosus…
NewRiver acquires Poole Retail Park in JV with BRAVO for £44.7 million
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III has exchanged contracts to acquire Poole Retail Park in Dorset, from LS Poole Retail Limited for total consideration of £44.7 million, reflecting a net initial yield of 8.0%. NewRiver will hold a 10% interest in the asset (NRR share: £4.5 million) and NewRiver…
Babcock selected as preferred bidder for UK naval frigate programme
LONDON: Babcock Team 31, led by Babcock Aerospace and Defence Company, has been selected by the UK Ministry of Defence as preferred bidder to deliver its newest fleet of warships. The Type 31 general-purpose frigate programme will provide the UK with a fleet of five ships, at an average production cost of £250 million per…
Telecom Egypt and Administrative Capital for Urban Development sign agreement
CAIRO: Telecom Egypt and the Administrative Capital for Urban Development (ACUD) signed an agreement to build and operate a telecom networks in the new administrative capital as well as to provide smart and security services networks. The agreement was signed by Major General Mohamed Abdel Latif, the General Manager of the ACUD, and Adel Hamed,…
Mitie Group secures IFM contract extension with Lloyds Banking Group
LONDON: Mitie Group has been awarded an extension to its contract to provide integrated facilities management (IFM) services to Lloyds Banking Group (LBG). Mitie has been delivering IFM services to LBG since 2012 under a transformational partnership and this agreement extends the partnership through to the end of 2024. The extended contract represents a step…
Hemogenyx scientific advisor receives Lasker Award
BROOKLYN: Hemogenyx Pharmaceuticals announced that H. Michael Shepard, a member of Henogenyx’s Scientific Advisory Board, has been awarded the 2019 Lasker-DeBakey Clinical Medical Research Award. The award is given annually for biological discoveries and clinical advances that improve human health. The Lasker Awards are America’s most prestigious medical research awards, the US Nobel. This year’s…
HML Holdings acquires Bedfordshire property management business
LONDON, UK: HML Holdings plc, a leading provider of property management, insurance and ancillary services to residential property blocks, has announced the acquisition of Thornes Chartered Surveyors (TCS), a property management business with offices in Luton. HML has purchased the business and assets of TCS for £376,000 cash consideration, satisfied from HML’s existing facilities. The…
Ahli Bank announces EMTN roadshow
DOHA: Ahli Bank rated A2 by Moody’s and A by Fitch, has mandated Al Khaliji Commercial Bank, Barclays Bank, Mizuho Securities, QNB Capital and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor meetings on its behalf commencing on Friday, 13th September 2019. A 5-year fixed…
SGX named Derivatives Exchange of the Year by Asia Risk
SINGAPORE: Singapore Exchange (SGX) has been named “Derivatives Exchange of the Year” by Asia Risk magazine for the sixth consecutive year, retaining a prestigious award that recognises best practices in risk management. Asia Risk, a leading industry publication, highlighted SGX’s innovation in developing solutions that ensure international investors have continued access to emerging markets across…
More than 50 countries come together to discuss cooperation and development on BRI
XI’AN, CHINA: The Euro-Asia Economic Forum 2019, with its focus on Participation in the Belt and Road Initiative (BRI) will Facilitate High-level Cooperation and Robust Development, kicked off on September 10th in Xi’an, China. Politicians, business people and scholars from more than 50 countries, including Germany, France, Kazakhstan, and Pakistan, attended the forum. The forum…
Microsoft says Trump is treating Huawei unfairly
NEW YORK: “The way the U.S. government is treating Huawei is un-American. China’s leading maker of networking equipment and mobile phones should be allowed to buy U.S. technology, including software from his company”. These thoughts were express by Microsoft President and Chief Legal Officer, Brad Smith. Such actions shouldn’t be taken without a “sound basis…