KARACHI: Government of Pakistan has planned to upgrade and replace the existing central bank operated national payment gateway and payment system i.e. Real Time Gross Settlement System (RTGS) with a state-of-the-art Automated Transfer System (ATS+), an official said. “In recognition…
SINGAPORE: AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to C (Weak) from C++ (Marginal) and the Long-Term Issuer Credit Rating to “ccc” from “b” of National Insurance Company Limited (National) (India)….
SINGAPORE: AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb+” of Oriental Insurance Company Limited (Oriental) (India). The outlook of the FSR…
LONDON: Argo, a UK-based provider of enterprise scale cryptocurrency mining services announced that its strategy to make a major investment in new mining hardware has delivered better than expected returns to date. The first phase of the investment programme commenced…
NICOSIA: Bank of Cyprus Holdings Public Limited Company announced that on 26 August 2019 the European Central Bank approved the appointment of Panicos Nicolaou as the Group Chief Executive Officer (CEO) and Executive Member of the Board of Directors of…
MEXICO CITY: AM Best has assigned a stable market segment outlook to Bolivia’s insurance industry, based on healthy growth, robust solvency ratios and a sufficient appetite from reinsurers. In a new Best’s Market Segment Report, titled, “Market Segment Outlook: Bolivia Insurance Industry,”…
HONG KONG: AM Best views South Korea’s non-life insurers as being in a better position than their life counterparts to weather the impact of the International Financial Reporting Standards 17 (IFRS 17) accounting standard and K-Insurance Capital Standard (K-ICS) solvency…
BAHRAIN: Al Salam Bank-Bahrain, the pioneering Shari’a-compliant bank in the Kingdom of Bahrain, posted a net profit attributable to shareholders of BHD 12.31 million (USD 32.62 million) for the first half of 2019; reflecting a 30 % increase over the…
TOKYO: Nomura Securities Co., Ltd., a wholly owned subsidiary of Nomura Holdings, has signed a memorandum of understanding (MOU) with San-in Godo Bank, Ltd. and its wholly owned subsidiary Gogin Securities to explore a comprehensive business alliance aimed at providing…
LONDON: Anglo American Plc has appointed Goldman Sachs in connection with its previously announced $1 billion share buyback programme Further to the announcement on 25 July 2019 in respect of the commencement of a share buyback programme of up to…
MOSCOW: Metalloinvest Finance, a leading global iron ore and HBI producer and supplier and one of the regional producers of high-quality steel, announced the signing of a framework agreement with 12 banks for executing deals under ECA backed financing, a…
HAMILTON: Hamilton Insurance Group has completed its acquisition of Pembroke Managing Agency Limited and its platform at Lloyd’s, as well as Dublin-based carrier, Ironshore Europe DAC from Liberty Mutual Group Inc. The transaction, which follows the signing of a definitive…