DUBAI, UAE: Emirates Investment Bank (EIBank) announced its financial results for the first nine months of 2019 recording total comprehensive income for the nine-month period ended 30 September 2019 reaching AED 30.37 million as against AED 29.65 million same period in 2018. Net profit reached AED 21.50 million for the nine-month period ended 30 September…
Kigobaby becomes Jatenergy’s exclusive distributor in China
SHANGHAI: Jatenergy Limited has signed a distribution agreement with Kigobaby, a distributor of consumer products throughout China. The agreement was signed at the second China International Import Expo in Shanghai. The distribution agreement provides for Kigobaby to be the exclusive distributor in China of a single NEURIO product line, being NEUIRO Formulated Milk Powder with…
Exploration commences at Lamil Project in Western Australia
SUBIACO: AIC Mines Limited has commenced initial field work at its Lamil Gold-Copper project in the Paterson Province, East Pilbara, Western Australia. The Lamil Project is a conceptual exploration project with a previously unrecognised and untested Telfer look-alike “domal” aero magnetic signature. The project secures an area of 1,375km2 and is located midway between the…
Oatey acquires certain assets of Keeney Manufacturing Company
CLEVELAND–(BUSINESS WIRE)–Oatey Co., a leader in the plumbing industry, has acquired certain assets of The Keeney Manufacturing Company based in Newington, Connecticut. The transaction includes Keeney’s plastic injection molding operation in Winchester, New Hampshire; its distribution facilities in Buford, Georgia and Sparks, Nevada; and the stock of Keeney’s two international subsidiaries, Tubular Industries of Canada…
Vonex announces strong growth in recurring revenue
PERTH: Vonex Limited, telecommunications innovator, has achieved strong growth in annualised recurring revenue (ARR) $9 million as at the end of Q1 FY20. ARR excludes one-off sales revenue and does not factor in net churn as the business continues to deliver positive net growth in active users. The Company is well-positioned to continue growing its…
Global smartwatch shipments leap to 14mn units in Q3
BOSTON–(BUSINESS WIRE)–According to the latest research from Strategy Analytics, global smartwatch shipments grew an impressive 42 percent annually to reach 14 million units in the third quarter of 2019. Apple Watch maintained first position with 48 percent global smartwatch marketshare, while Samsung held second place, and Fitbit clung on to third. Steven Waltzer, Senior Analyst…
AM Best affirms credit ratings of Atradius Seguros de Crédito, S.A.
MEXICO CITY: AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” and the Mexico National Scale Rating of “aaa.MX” of Atradius Seguros de Crédito, S.A. The outlook of these Credit Ratings (ratings) is stable. Atradius Mexico is a member of the Atradius group, which…
S&P affirms credit ratings of Taiwan Semiconductor Manufacturing
HONG KONG: S&P Global Ratings has affirmed its ‘AA-‘ issuer credit ratings on Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). S&P also revised liquidity assessment on the company to strong from exceptional. TSMC’s plan to accelerate investments in advanced 7 nanometer (nm) and 5nm process technology should help it maintain its technology leadership, support faster growth…
S&P affirms South Korea ‘AA/A-1+’ ratings with stable outlook
SINGAPORE: S&P Global Ratings affirmed its ‘AA/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Korea. The outlook is stable, which reflects expectation that geopolitical risks in the Korean peninsula will not escalate to the point of hurting Korea’s economic fundamentals over the next two years. Beyond the outlook horizon, Korea’s economic…
Induction healthcare acquires Horizon Strategic Partners for £2.5 million
LONDON: Induction Healthcare Group PLC has acquired Horizon Strategic Partners Limited. Under the terms of the acquisition, the Group will purchase Horizon for a total consideration of up to £2.5 million, comprising an initial payment of £1 million and deferred contingent consideration of up to £1.5 million which can be settled for cash and Induction…
Vilma appointed CEO of Maxima International Sourcing
LONDON: Vilma Drulien becomes the CEO of the Maxima Grup’s subsidiary MAXIMA International Sourcing. Being a member of the company’s board, Vilma Drulien will also continue to serve as a Chief Commercial Officer and a member of the board at Maxima LT. The new CEO of MAXIMA International Sourcing replaces Gintaras Jasinskas, who managed the…
Etalon completes Schastye v Lianozovo residential complex
MOSCOW: Etalon Group Plc has completed the Schastye v Lianozovo residential complex in the north of Moscow. The project has a total NSA of 8 ths sqm, including 6 ths sqm of residential area. Etalon is one of Russia’s largest and longest-established development and construction companies. Schastye v Lianozovo is a modern comfort-class building with…