DUBAI: DAMAC Properties Dubai Co. has announced financial results for the nine months of 2019, reporting total revenue of AED 2.8 billion, with booked sales reported at AED 2.4 billion. Gross profits for the same period stood at AED 838 million reflecting gross profit margins of 30.3%. Total assets stood at AED 24.5 billion compared…
S&P revises outlook on U.K.-based HSBC Holdings to negative
LONDON: S&P Global Ratings revised its outlook on U.K.-based bank holding company HSBC Holdings PLC to negative. At the same time, S&P affirmed ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on HSBC Holdings. “We also revised our outlook on certain core subsidiaries of the HSBC group to negative and affirmed our ‘AA-‘ long-term and…
Pakistan’s automobile sales decline 56pc in October 2019
KARACHI: Pakistan’s overall passenger car sales clocked in at 10,853 units in October 2019, 56 percent down against 24,850 units sold in the same month last year, numbers issued by Pakistan Automotive Manufacturers Association (PAMA) suggest. On aggregate basis, locally assembled passenger car sales registered a decline of 46 percent to 45,161 units in four…
Lifenet makes business alliance with Insurtech provider justInCase
TOKYO: Lifenet Insurance Company announced that Lifenet has concluded a comprehensive business alliance agreement with justInCase, Inc., which has received the first authorization to participate in regulatory sandbox system as a small-amount short-term insurer in Japan. Lifenet has entered this business alliance with justInCase, Inc. to innovate the customer experience and enhance promotion capabilities, which…
Nissan cuts global vehicle sales forecast by 5.4%
YOKOHAMA: For the 2019 full fiscal year, Nissan Motor Company has reduced its global vehicle sales forecast by 5.4% from the initial to 5.24 million units. Nissan is progressing steadily towards its business transformation and profit recovery. However, operating profit for the first half is behind the original plan. In addition, the yen has strengthened…
Blue and Queensland sign gas MOU for proposed Townsville Nickel refining project
BRISBANE: Blue Energy Limited has signed a non-binding MOU with Queensland Pacific Metals Pty Ltd (QPM) to facilitate supply of a portion of Blue Energy’s North Bowen Basin gas resources. QPM is a wholly owned subsidiary of Pure Minerals Limited, who is focussed on developing a battery chemicals refinery to produce nickel and cobalt sulphate…
PSC Insurance acquires Carroll Insurance for £3.4 million
SYDNEY: PSC Insurance Group has announced the acquisition and completion of Carroll Insurance Group (CIG), a direct and wholesale broking business, operating in the Lloyd’s and London markets. CIG was acquired for £3.4 million (A$6.3 million), excluding net assets; 70% of the consideration is payable in cash on completion (£2.4 million), with the balance after…
9 Spokes explores global collaboration opportunity with Visa
AUCKLAND: 9 Spokes, a leading marketplace and insights company to small businesses, has signed an addendum to its Collaboration Framework Agreement with Visa USA. Inc. enabling the parties to explore a potential opportunity to make the 9 Spokes platform and business app Marketplace available to Visa’s small business issuing clients and their SMBs worldwide. 9…
MyFiziq signs term sheet with Hong Kong based Fit Capital to integrate into Stryde Fitness App
HONG KONG: MyFiziq Limited has further expanded its reach into Asia signing a binding term sheet with Fit Capital, which will see the MyFiziq platform integrated into the multi-dimensional training platform, Stryde Fitness App. Stryde is focused on assisting its subscribers with setting goals using a goal setting algorithm and attaining those goals through engagement…
E2 Metals commences drilling at Conserrat Project in Argentina
MELBOURNE: E2 Metals Limited announced that drilling has commenced at the Conserrat Project in Santa Cruz province, Argentina. Approximately 2,500m of Reverse Circulation (RC) drilling is planned in up to 25 holes to investigate a series of outcropping vein and IP targets at five prospects spaced over a 2.5km by 4km area. The objective of…
Synertec successfully delivers Metro Trains Melbourne project
MELBOURNE: Synertec Corporation Limited has announced the successful achievement of Practical Completion of the advanced integrated control and monitoring system for fire and life safety in the Melbourne Underground Rail Loop (MURL). This project was awarded to Synertec in January 2018. The successful achievement of Practical completion of this project follows the design and commissioning…
Indoor Skydive launches new website and booking system
SYDNEY: Indoor Skydive Australia Group Limited has announced the launch of its new website and booking system across Australia. To deliver both the best customer experience, and the most efficient operating model, a single centralised website has been implemented in partnership with iFLY Australia, incorporating all 5 iFLY facilities, at www.iflyworld.com.au. Further synergies are also underway…