PARIS: S&P Global Ratings has affirmed ‘BB+’ ratings on Home Appliances Group Arcelik A.S and on the company’s senior unsecured debt, based on the view that the company can withstand a sovereign stress scenario. The negative outlook reflects the view that weak consumer demand in Turkey and foreign currency exchange volatility might pressure credit metrics…
Construction of 900MW RLNG based power project to start next month
KARACHI, PAKISTAN: The construction of K-Electric’s $650 million 900MW RLNG-based Bin Qasim Power Station (BQPS)-III will commence in December. The project has received all required approvals and is part of KE’s planned initiatives resulting in investments of around US$3 billion across the power value chain over the next few years. The project was conceived in…
Emerge Gaming signs billing and distribution agreement with Mondia Media
SYDNEY: Emerge Gaming Limited, the operator of online eSports and casual gaming tournament platform and lifestyle hub “ArcadeX”, has signed a billing and distribution agreement for ArcadeX with Mondia Media MENA Getmo Arabia FZ-LLC, a leader in the global B2B digital entertainment market. Agreement with Mondia is a direct carrier billing (DCB) Aggregator who provide…
Tempus Resources completes due diligence on the acquisition of Blackdome-Elizabeth Gold Project
PERTH: Tempus Resources has announced successful completion of due diligence on the acquisition of the high-grade, past producing Blackdome-Elizabeth Gold Project located in British Columbia, Canada. Legal firm Gowling WLG (Canada) LLP and technical specialists SRK Consulting have assisted with detailed due diligence on the acquisition and letter of intent, which has now been completed…
Firefly launches online strategy game Terminator: Dark Fate
SYDNEY: MSM Corporation International Limited notified that Firefly Games Inc, a strategic partner forged through the Company’s investment in The Riva Group, has successfully completed its global launch of Terminator: Dark Fate. It is the official, free to play, real time strategy war game based upon the 2019 feature film and is available worldwide on…
SeaBird gets new OBN source contract in Eastern Hemisphere
LIMASSOL, CYPRUS: SeaBird Exploration announced receipt of a letter of intent for the exclusive provision of source vessel services for an OBN survey in the Eastern Hemisphere. The survey is expected to start in Q1 2020, with an approximate duration of 60 – 90 days. SeaBird is a global provider of marine acquisition for 2D/3D…
AVZ introduces Yibin Tianyi Lithium as a strategic investor
PERTH: AVZ Minerals Limited has notified an equity placement of A$14.1 million to Yibin Tianyi Lithium Industry Co., Ltd through the issue of 314.3 million shares at 4.5 cents per share. Upon completion of the placement, Yibin Tianyi will hold a 12% stake in AVZ Minerals. Yibin Tianyi is backed by a number of Chinese…
Alliance Resources commences RC drilling at Weednanna Gold Deposit
VICTORIA: Alliance Resources Ltd has announce that the next phase of reverse circulation (RC) drilling has commenced at the Weednanna Gold Deposit, 40km north of Kimba on the Eyre Peninsula, South Australia. The drilling program consists of 57 RC holes totalling 5,220m which will drill out the Shoot 1 area on a 10m x 10m…
Ibaera’s IGIC gains control of Azumah Resources Limited
PERTH: Azumah Resources Limited notified that IGIC Pte Ltd (an affiliate of Ibaera Capital Fund GP) has increased its relevant interest to over 50% of Azumah’s shares, thereby gaining control of the Company. The Independent Directors of Azumah unanimously recommend shareholders accept Ibaera’s increased off-market cash takeover offer of 3.3 cents per Azumah share in…
SALAMA posts 15.78% growth in net profits
DUBAI: Islamic Arab Insurance Company (SALAMA), listed on the Dubai Financial Market, has shown consistent growth in net profit over the last three quarters of 2019 and has reported 13.6% growth in gross contribution, attributing to a total of Dh901 million in gross contribution for 9-month 2019 compared to Dh793 million in 9-month 2018. As…
Agro increases number of miner machines in production to 7,000
LONDON: Argo Blockchain Plc, a leading enterprise-scale cryptominer based in the UK, announced that 500 new Bitmain S17 Antminer machines were brought onstream last week, increasing the total number of machines in production to 7,000, a press release issued to London Stock Exchange said . The new machines are part of Argo’s strategy to install…
Alpha FMC acquires cloud SaaS business for £5.7 million
LONDON: Alpha FMC has completed the acquisition of 100% of the issued share capital of Obsidian Solutions Limited, a financial services cloud SaaS business in the United Kingdom for £5.7 million cash payable in two instalments, the first instalment being payable on completion and the second after six months. Alpha FMC is a leading global…