KARACHI: Pakistan Automotive Manufacturers Association (PAMA) published monthly automobile sales data for November 2019 wherein passenger car (PC) sales plummeted 44% to 8,524 units, with downturn in volumes witnessed in all categories during the month. Truck/ Pickup volumes plunged 42%/40%,…
BEIRUT: AM Best has commented that the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of Lebanon based ARABIA Insurance Company (AIC), both with a negative outlook, remain unchanged despite the increased…
NEW YORK: AM Best has maintained a market segment outlook of stable on the U.S. commercial lines industry for 2020, citing factors such as improved market conditions and solid levels of risk-adjusted capitalization that have helped insurers weather short-term profitability…
OSLO, NORWAY: Kongsberg Defence & Aerospace AS has signed a contract with the Danish Ministry of Defence Acquisition and Logistics Organisation (DALO) for delivery of the KONGSBERG PROTECTOR Remote Weapon Station (RWS) to the Danish Army worth 270 MNOK. The…
KARACHI, PAKISTAN: ‘The Overseas Investors Chamber of Commerce and Industry (OICCI) and its member companies are role models for empowering women at the workplace and the corporate sector across Pakistan should follow the ‘OICCI Women’ initiative to foster economic growth…
LONDON: Hargreaves Services plc announced an acquisition by its German associate company, Hargreaves Raw Material Services GmbH (HRMS), which furthers its strategy of creating an integrated specialist manufacturing and minerals trading business in Germany’s industrial heartland. Hargreaves has acquired 94.9%…
LONDON: Danakali Limited, a potash company focused on the development of the Colluli Sulphate of Potash Project, has received the proceeds of the first tranche of its US$50 million strategic equity investment from Africa Finance Corporation (AFC). AFC’s strategic equity…
LONDON: The Watches of Switzerland Group has entered into an agreement with Fraser Hart Limited to purchase four luxury watch and jewellery showrooms trading under the brand name Fraser Hart for £31.7 million. The showrooms in Stratford, Brent Cross, Kingston…
LONDON: The Financial Reporting Council (FRC) has announced sanctions against Grant Thornton UK LLP and one of its Audit Engagement Partners in relation to the statutory audit of the 2016 financial statements of a publicly listed company. The sanctions are:…
ISLAMABAD: GE Power hosted the Pakistan 9HA Tech Conference in Islamabad,welcoming government officials, industry experts, power plant owners and operators, consultants, and others. The event highlighted the contributions of GE’s 9HA gas turbine technology and teams in meeting Pakistan’s energy…
OSLO, NORWAY: Norwegian Property ASA has entered into an agreement to purchase the property Lille Grensen 7. Norwegian Property will purchase all shares in Grensen Investment AS, which is the owner of 100% of the shares in Lille Grensen 7….
PERTH, AUSTRALIA: Lithium Australia NL has completed the formalities for joint battery marketing operations with the DLG Group, China-based battery and energy storage specialists. The new enterprise –an incorporated joint venture (Lithium Australia 50% and DLG 50%) trading as Soluna…