PRESS DIGEST - British business - Nov 28

The Times

RBS OFFICIALLY ENTERS ASSET PROTECTION SCHEME

Royal Bank of Scotland(RBS.L) has formally enrolled in the Government's insurance scheme for toxic assets. The bank plans to submit 282 billion pounds ($461.9 billion) of its most troubled assets to the state's insurance policy. In exchange, RBS will pay a fee this year of 700 million pounds which will drop to 500 million pounds annually from 2010. RBS is to raise 25.5 billion pounds through the issue of new shares to the government which will therefore increase its ownership in the bank to 84.4 percent.

BRITISH COMPANY TO HELP INDIA HARNESS THE POWER OF THE SEA

Atlantis Resources has won a landmark contract to try to harness the power of the sea around India for the first time. India has more than 4,500 miles (2,800 miles) of coastline but hasn't established a single tidal power project. The energy company will examine the feasibility of developing projects capable of generating over 100 megawatts. Atlantis's backers include Norwegian state utility Statkraft and Morgan Stanley.

TIDDLER TO WATCH

Shares in waste water business Nature Group (NGRP.L) rose 1.25 pence to 23.25 pence on Friday after the company won a contract to build a waste treatment plant at a port in Oman. Astaire said the deal, worth around $4.2 million, should be would be a showcase of the company's cleantech capabilities.