MANAMA, BAHRAIN: INOVEST, a Category 1 Investment Firm (Shari’a Principles) regulated by the Central Bank of Bahrain and publicly listed on both Bahrain Bourse and Boursa Kuwait, announced its financial results for the first nine months of 2019, reporting a consolidated net profit attributable to parent shareholders of US$5.01 million, representing a 59% decline as…
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Tabreed posts net profit of AED 329.1 million
ABU DHABI, UAE: National Central Cooling Company (Tabreed) released its consolidated financial results for the first nine months of 2019, reporting an increase of 3.1% in the net profit to AED 329.1 million. Tabreed is the leading international district cooling developer based in UAE. The company continues to meet the growing demand for district cooling…
Kiwibank Ltd. ‘A/A-1’ ratings affirmed; outlook positive
MELBOURNE: S&P Global Ratings has affirmed its ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on Kiwibank Ltd. The outlook on the long-term rating is positive, reflects the view that the bank’s risk appetite is now converging with that of its peers. “It also reflects our expectation that following recent management changes, a clear and…
Altus Strategies completes royalty and property transaction with Desert Gold
LONDON: Altus Strategies, the Africa focused project and royalty generator, announced the successful completion of the royalty and property sale transaction with Desert Gold Ventures Inc. on the Company’s contiguous Sebessounkoto Sud and Djelimangara gold projects located in western Mali. The transaction has closed in accordance with the Term Sheet between Altus and Desert Gold,…
Ten Lifestyle Group wins contract to expand in the Americas
LONDON: Ten Lifestyle Group has won a competitive tender with an existing global client to significantly expand its services in the Americas. Ten Lifestyle will take over from the client’s incumbent supplier to provide its digital and high-touch concierge services early in the new calendar year. Ten Lifestyle Group plc is a leading, global travel…
Shell announces commencement of trading in next tranche of its share buyback programme
LONDON: Royal Dutch Shell has commenced trading in the next tranche of its share buyback programme previously announced on July 26, 2018 with an intention to buy back at least $25 billion of its shares, a notice issued to London Stock Exchange (LSE) noted. In the next tranche, the company has entered into an irrevocable,…
S&P revises outlook on Powerlong to stable from negative
HONG KONG: S&P Global Ratings has revised its outlook on Powerlong to stable from negative given enhanced debt control. At the same time, S&P affirmed ‘B+’ long-term issuer credit rating on the China-based developer, and the ‘B’ long-term issue rating on the company’s senior unsecured notes. The stable outlook reflects that Powerlong will maintain its…
Exyte gets “Excellent Contractor” award by GCLSemi
SHANGHAI: Exyte Group is presented the “Excellent Contractor” award by GCLSemi. The award is in recognition of Exyte’s achievement of 800,000 safety work hours during the construction of GCLSemi’s silicon wafer manufacturing cleanroom project in Xuzhou, China. Exyte is the global leader in the design, engineering and delivery of high-tech facilities, plants and factories. Exyte…
S&P revises Nokia’s outlook to negative on weak cash flow prospects
FRANKFURT: S&P Global Ratings revised telecom network equipment vendor Nokia outlook to negative on weaker cash flow prospects, and affirmed the rating at ‘BB+’. “Nokia needs to step up investments in its 5G products during a critical stage when market demand is ramping up,” S&P noted. The negative outlook reflects the possibility of a one-notch…
Profits of Qatari listed companies decline 5.3% in the 3rd quarter of 2019
DOHA: All of Qatar Stock Exchange (QSE) listed companies have disclosed their financial results for the period ended September 30, 2019. The results show a net profit of QR 29.5 billion compared to QR 31.1 billion for the same period last year, with a decrease of 5.3%. Qatar’s economy has taken a turn for the…
Aramex posts a meager 1.0 percent growth in Q3 net profit
DUBAI, UAE: Aramex today announced its financial results for the third quarter ended 30 September 2019, wherein the Q3 2019 revenues grew by 2% to AED 1.27 billion, compared to AED 1.239 billion in the corresponding period a year ago. Revenues would have grown by 5% excluding the company’s strategic restructuring of its operations in…
Sativa’s George Botanicals enters into a brand partnership with SHS Sales & Marketing
LONDON: Sativa Group Plc, the UK’s leading quoted CBD wellness and medicinal cannabis Group, announced that its wholly owned subsidiary, George Botanicals, has entered into a brand partnership agreement with SHS Sales & Marketing (GB) Limited. SHS will distribute a range of “Goodbody Botanical” branded products to UK high street grocery, pharmacy and specialist customers…