BAHRAIN: Esterad Investment Company (ESTERAD) announced at a meeting of its board of directors on Wednesday 23rd October 2019, the nine months financial results for the current year including the financial results of third quarter. Esterad achieved a net profit (attributable to the shareholders of the parent company) during the third quarter of 2019 amounting…
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TerraX Minerals to acquire Gold Matter Corporation
VANCOUVER: TerraX Minerals Inc. has entered into an agreement with Gold Matter Corporation, a private closely-held corporation, whereby the Company will acquire all of the shares of Gold Matter in exchange for 5 million shares of the Company on a one-for-one basis, resulting in former shareholders of Gold Matter holding approximately 4% of the issued…
SGX reports market statistics for August 2019
SINGAPORE: Singapore Exchange (SGX) released its market statistics for August 2019. Market participants continued to use SGX’s suite of risk-management tools to manage their positions across multiple asset classes as concerns over the outlook for both developed and emerging economies intensified. With ongoing US-China trade tensions, a yield-curve inversion in the US bond market –…
Mutamba project mining concessions conditionally awarded in Mozambique
LONDON: Savannah Resources plc has announced that the Minister of Mineral Resources and Energy in Mozambique has conditionally awarded two Mining Concessions, 9735C and 9229C, for the world-class Mutamba Heavy Mineral Sands Project in Mozambique over which the Company operates a joint venture with Rio Tinto. Mining Concession 9735C has a term of 25 years…
Oakley Capital announces investment in leading design company Alessi
LONDON: Oakley Capital Investments Limited announced that Oakley Capital Private Equity III has completed an investment in Alessi S.p.A (Alessi), the Italian high-end design business focused on home ware products. Alessi is an iconic homeware brand with 100 years of heritage; working with some of the world’s leading architects and designers it has captured a…
Telstra reaches $1 billion in asset monetisation
LONDON: Telstra Corporation has announced establishment and part sale of an unlisted property trust to own 37 of Telstra’s existing exchange properties, a release issued to London Stock Exchange noted. As part of the transaction a Charter Hall-led consortium will acquire a 49 percent stake in the new trust for $700 million, reflecting a capitalisation…
EFG Hermes reports 49% growth in net profits
CAIRO, EGYPT: EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), reported solid results for second quarter of 2019. Group recorded a net profit after tax and minority interest of EGP 304 million in 2Q19, up 49% Y-o-Y, on revenues of EGP 1.1 billion, reflecting a 13% Y-o-Y increase. For the first…
Eight Capital Partners acquires €2 million receivables
LONDON: Eight Capital Partners has completed the acquisition of a €2 million receivable as outlined in its announcement of 1 June 2019 Notice of AGM. Finance Partners Group (FPG) is an Italian financial services company that, among other things, takes minority stakes in private companies seeking future listings on public markets. Its main holding is…
NQ Minerals makes further investment in Tasmania Energy Metals
LONDON: NQ Minerals Plc has made a further strategic investment in private Tasmanian mining company, Tasmania Energy Metals to enhance the company’s operations and prospects, a release issued to London Stock Exchange (LSE) noted. As previously announced, NQ Minerals and Tasmania Energy Metals entered into a convertible loan instrument for £150,000 where NQ Minerals could…
LSEG acquires Refinitiv for $27bn to become largest global FMI provider
LONDON: London Stock Exchange Group plc (LSEG) has agreed definitive terms with a consortium including certain investment funds affiliated with Blackstone as well as Thomson Reuters to acquire the Refinitiv business in an all share transaction for a total enterprise value of approximately US$27 billion. Blackstone’s consortium includes an affiliate of Canada Pension Plan Investment…
Mitsubishi UFJ Lease & Finance to invest in electricity distribution business in UK
TOKYO: Mitsubishi UFJ Lease & Finance Company Limited (MUL) has announced its decision to participate in electricity distribution business in the UK by acquiring a stake in “Electricity North West Limited” (ENWL), an electricity distributor supplying the North West of England. KDM Power Limited., a holding company jointly established by MUL, Kansai Electric Power Co.,…
AM Best affirms credit ratings of New York Life Insurance, subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aaa” of New York Life Insurance Company and its wholly owned subsidiary, New York Life Insurance and Annuity Corporation (collectively referred to as New York Life). Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term…