KARACHI: Sindh government Thursday unveiled the Karachi Breeze Red Line Project, which will be the first ever transport system in Pakistan to use bio-methane produced from animal waste as a fuel resource for its 213 bus fleet. The project will have an estimated cost of Rs78.384 billion and will provide transport services for 300,000 people…
Active Energy awards first CoalSwitch licence agreement in Canada
LONDON: Active Energy Group Plc, an international biomass based renewable energy business, has agreed terms for the issuance of its first CoalSwitch Licence Agreement to RMD Environmentals, Inc. (RMDE) to develop and manage projects involving the use of CoalSwitch technology in each of the Crown Provinces of Alberta and British Columbia in Canada. RMDE is…
Grainger to forward fund 132-home PRS development for £55.5 million
LONDON: Grainger plc has agreed to forward fund a 132-home private rented sector (PRS) development in the Hallsville Quarter development at Canning Town, London for c.£55.5 million. The scheme, which also includes c.11,000 sqft commercial space, will be developed by Linkcity, with Bouygues UK the building contractor. This is the fifth PRS scheme Linkcity and…
Boku enters strategic partnership with Swisscom
LONDON: Boku Inc, the world’s leading independent direct carrier commerce company, has entered into a partnership with Swisscom to provide mobile identity verification capabilities in the Swiss market. As part of the agreement, Swisscom will connect with Boku’s global Identity platform through a single connection. The mobile identity verification provided by Boku will enable Swisscom’s…
AM Best affirms credit ratings of Hiscox Ltd and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Hiscox Insurance Company (Bermuda) Limited (Hiscox Bermuda), Hiscox Insurance Company Limited (Hisco) (United Kingdom), Hiscox Insurance Company (Guernsey) Limited (Hiscox Guernsey), Hiscox Insurance Company Inc. (HICI) (Chicago, Illinois, USA), and Lloyd’s Syndicate…
VR launches Shuttle Commander on PlayStation
LONDON, UK: VR Education announced that the Group’s latest VR showcase experience, ‘Shuttle Commander’, will launch on Sony PlayStation on Tuesday, 3 December 2019. The VR showcase experience will retail at £21.99 in the UK, €24.99 in the EU and US$24.99 in the US. Shuttle Commander is an accurate physics-based flight simulator experience, offering users…
Essentra Plc forms joint venture company in China
LONDON: Essentra plc has signed an agreement for the establishment of a new joint venture (JV) company in China, China Tobacco Essentra (Xiamen) Filters Co., Ltd. to produce specialist and next generation filters, which the JV plans to manufacture locally in a new facility in Xiamen, and will incorporate a state-of-the-art development and testing centre….
Blackbird signs multi-year deal with Bloomberg Media
NEW YORK: Blackbird plc, developer and seller of market-leading cloud video platform Blackbird, has signed a significant multi-year deal with Bloomberg Media for fast turnaround news editing and social publishing, a release said. The annual revenues from this deal will be significant for Blackbird, which operates in the fast-growing SaaS and cloud video market and…
Total Quadran starts up Hélio Boulouparis 2, largest solar power plant with energy storage in overseas France
PARIS, FRANCE: Total Quadran, a wholly owned Total subsidiary involved in the production of renewable electricity in France and its overseas territories, starts up Hélio Boulouparis 2, the largest solar power plant with energy storage in overseas France. The plant is the second tranche of the solar park which is the most extensive solar program…
Tinkoff GDRs included in MOEX Russia indices from next month
LIMASSOL: TCS Group Holding, Russia’s leading provider of online financial and lifestyle services via its Tinkoff ecosystem, announced that its depositary receipts (GDRs) will be included in MOEX Russia indices starting December 2019. The securities will be included in the MOEX Russia Index and the RTS Russia Index from 20 December 2019, according to Moscow…
Infront ASA posts 256% increase in revenue for Q3 2019
OSLO: Infront ASA, a provider of global market data, news, analytics and trading tools, announced group revenue of EUR 25.3 million for Q3 2019 as against EUR 7.1 million same period last year, posting an increase of 256%, driven mainly by the inclusion of vwd Group, full effect of Infront Italia and price increases across…
OKEA ASA completes USD120mn five-year bond issue
OSLO, NORWAY: OKEA ASA, an Exploration and Production (E&P) company, has announced successful completion of a USD 120 million five-year senior secured bond issue with a coupon rate of 8.75 percent and an issue price of 99% of the nominal value. The bond issue attracted broad international investor interest. The bond issue is expected to…