MOSCOW: RusHydro has announced signing of loan agreement with VTB Bank regarding revolving loan facility for 15 years with limit of up to RUB 30 billion. The maximum interest rate on the loan is equal to key rate set by the Central Bank of the Russian Federation plus 2.9%. RusHydro Group is the leading producer…
Mashreq posts net profit AED 2.1 billion for 2019
DUBAI, UAE: Mashreq Bank, one of the leading financial institutions in the UAE, has reported AED 2.1 billion net profit for the year ending December 31, 2019. Mashreq’s CEO, Ahmed Abdelaal, said: “Mashreq Bank continued to register strong performance and achieved a healthy net profit of AED 2.1 billion in the year. Importantly, this was…
Oman Insurance posts net profit of AED 190.5 million for 2019
DUBAI: Oman Insurance Company has reported a turnaround net profit of AED 190.5 million for the year ended December 31, 2019, making it one the best in last 5 years. This was achieved due to the forward-looking strategies defined in 2018 and with placing primary focus on customer satisfaction. Despite the challenging environment, with downward…
Drake & Scull International announces completion of key projects in Kuwait
DUBAI, UAE: Drake & Scull International (DSI), a regional market leader of integrated design, engineering and construction projects, has announced that its Kuwaiti subsidiary, Drake & Scull for Electrical Contracting (DSI Kuwait), has successfully completed major engineering and construction projects on the country’s Sheikh Saad Al-Abdullah Al-Salem Al-Sabah Indoor Sports Complex and Sabah Al-Salem University…
Bayer to donate approximately EUR 15 million to combat coronavirus
LEVERKUSEN, GERMANY: Bayer is donating medicines and additional financial aid worth a total of approximately EUR 1.5 million to support the population affected by the outbreak of the novel coronavirus in China. The donations will be made to the Chinese Red Cross, which is working together with the health authorities to coordinate the deployment of…
IDEX receives orders from a global provider of financial services
OSLO: IDEX Biometrics ASA has received its first production orders worth $6.0 million under an agreement entered into in 2019 to provide fingerprint sensors to a leading global provider of financial services and news. Following initial sample orders in the fourth quarter of 2019, IDEX has now received the first production orders under this program…
ANZ completes sale of OnePath P&I to IOOF Holdings
SYDNEY: Australia and New Zealand Banking Group (ANZ) announced it had successfully completed the sale of its OnePath Pensions & Investments (OnePath P&I) business to IOOF Holdings Limited (IOOF). The final sale price of $850 million included $25 million that ANZ had already received for the sale of its Aligned Dealer Groups in October 2018….
Rob Longley appointed Managing Director of Ardiden Limited
PERTH: Ardiden Limited has appointed experienced geologist and current Chief Executive Officer Rob Longley as Managing Director. This appointment is consistent with the company’s strategic focus on maximising value from the Company’s gold assets in the Tier 1 Mining jurisdiction of Ontario, Canada. Rob was appointed Chief Executive Officer of Ardiden on 1 May 2019…
Tritax EuroBox acquires logistics real estate in Central Poland for €51.8 million
LONDON: The Board of Tritax EuroBox, which invests in Continental European logistics real estate assets, has acquired two recently developed prime logistics properties and development land, positioned in the core logistics location of Strykow, near Lodz in Central Poland for €51.8 million (Phase I) with the potential to invest a further €15.0 million developing the…
Knights Group acquires Croftons Solicitors for £2.8 million
LONDON: Knights Group Holdings plc has acquired the entire issued share capital of Simon Leighton Limited, Arthur Chapman Limited and Bob Agnew Limited being the corporate shareholders of Croftons Solicitors LLP for £2.8 million. This acquisition builds on the Company’s presence in Manchester, in line with the Group’s strategy to accelerate its organic growth through…
Fuel technology company Velocys appoints Worley as engineering partner
LONDON, UK: Velocys plc, the sustainable fuels technology company, announced the appointment of Worley to manage the delivery of its fully integrated technology package. Worley, a world-class engineering contractor, is the partner in the development of pre-feasibility, feasibility and FEED packages for all projects in the Velocys portfolio. This allows Velocys to leverage synergies across…
SIG Plc completes sale of Air Handling Division to France Air Management
LONDON: SIG plc, a leading European supplier of specialist building materials, has completed the sale of its Air Handling Division to France Air Management for an enterprise value of EUR 222.7 million on a cash free, debt free basis. The net proceeds received by SIG were EUR 180.9 million, exclusive of the repayment of debt…