MUMBAI: Tata Motors Limited announced its sales in the domestic and international market, for the month of February 2020, which stood at 40,634 vehicles, compared to 60,151 units during February 2019. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Commercial vehicle domestic sales in February 2020 was 35% lower than last year….
Al Salam Bank and Bin Faqeeh ink property finance agreement
MANAMA, BAHRAIN: Al Salam Bank-Bahrain has signed a Memorandum of Understanding with Bin Faqeeh Real Estate Investment Company to offer its competitive property financing facility for buyers of the Alsidra development at Diyar Al Muharraq. The family-oriented gated community comprises of 452 luxury villas with two to five bedrooms set in lush green gardens with…
Sistema launches start-up fund Sistema SmartTech
MOSCOW: Sistema PJSFC, a Russian publicly-traded diversified holding company, announced the launch of Sistema SmartTech, a fund aimed at supporting early-stage and start-up companies from seed investment to Series A funding. The Fund’s target size is expected to be RUB 5 billion, with up to RUB 1.5bn investment from Sistema. In addition to Sistema, which…
US Solar Fund enters exclusivity to acquire 61 MW solar portfolio
PORTLAND: US Solar Fund has entered exclusivity with Southern Current LLC, a leading US solar developer, to acquire an approximately 61 MW utility-scale solar power portfolio consisting of four in-construction projects located in Oregon. Construction of the Southern Current Portfolio is well-progressed and all projects have long-term power purchase agreements (PPA) with an investment-grade offtaker….
BATM develops diagnostics kit for COVID-19
LONDON: BATM Advanced Communications, a leading provider of real-time technologies for networking solutions and medical laboratory systems, announced that its Bio-Medical division has successfully developed a new diagnostics kit to detect COVID-19. Additionally, this kit has undergone testing by several central laboratories and hospitals that have now verified its ability to diagnose COVID-19. The Group…
Attraqt becomes BigCommerce Technology Partner
LONDON: Attraqt Group plc has been named a BigCommerce Technology Partner, providing more than 60,000 BigCommerce customers with access to Attraqt’s experience orchestration platform which enables retailers to implement highly relevant, cross-channel search, merchandising and personalisation capabilities at scale. BigCommerce provides a robust eCommerce solution that handles all of the transactional elements of the shopper…
Riverstone sells investment in Aleph to Vista Oil and Gas for $23.5mn
LONDON: Riverstone International Limited, the Manager of Riverstone Energy Limited (REL), has agreed to wind down its investment in Aleph Midstream through a sale to Vista Oil and Gas, S.A.B. de CV. REL is expected to receive $23.5 million in proceeds through a return of its invested capital at a 1.0x Gross MOIC. The transaction…
Hikma and Glenmark sign agreement to commercialise Ryaltris
LONDON: Hikma Pharmaceuticals and Glenmark Specialty, a Swiss subsidiary of Glenmark Pharmaceuticals, announced the signing of an exclusive US license agreement to commercialise Ryaltris (olopatadine hydrochloride and mometasone furoate nasal spray), an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis (SAR). Under the terms of the agreement, Glenmark will be responsible…
Frasers Property Retail announces Tenant Support Package across 14 malls
SINGAPORE: Frasers Property Retail is introducing a Tenant Support Package across Frasers Property Group’s combined retail portfolio of 14 malls in Singapore, which includes retail properties held under Frasers Centrepoint Trust as well as retail properties managed by Asia Malls Management. The relief measures are aimed at helping tenants overcome the business impact of COVID-19…
Axactor enters agreement with Resurs Bank in Norway
OSLO: Axactor SE has extended an existing agreement with Resurs Bank in Norway, the agreement now includes the banks “yA” brand, for both cards and loans. The loans will be purely acquisition, but the cards will include a solution rate guarantee where the first 90 days is effectively a 3PC servicing agreement, followed by acquisition….
MGC Pharma signs commercial supply deal for first products into Poland
PERTH, AUSTRALIA: MGC Pharmaceuticals has entered into an exclusive commercial wholesale supply agreement with Polish NGO Cannabis House Association (Stowarzyszenie Cannabis House) and the Forensic Laboratory of the Faculty of Law and Administration of the University of Łódź in Poland, a key EU market. The Agreement sets out the terms under which MGC Pharma will…
K2fly signs new RCubed customers for Proof of Concept Designs
SYDNEY: K2fly Limited announced that both Vale S.A. (Vale) and South 32 Limited (South32) have signed initial purchase orders to immediately commence work on proof of concept designs for the RCubed Resource Governance Solution. Vale is the world’s largest producer of iron ore and iron ore pellets and the world’s largest producer of nickel. Vale…