SINGAPORE: Singapore Exchange (SGX) and the Intellectual Property Office of Singapore (IPOS) have partnered to launch the Intangible Disclosure Evaluation and Audit Scheme (IDEAS) programme exclusively for SGX-listed companies and companies preparing for a listing. The programme aims to raise awareness and encourage companies to undergo intangible assets (IA) evaluations and promote a more robust…
Category: Australian Exchange
Australian Securities Exchange news today and company announcements regarding mergers, acquisitions, appointments, expansion and technology of companies listed on Australian Securities Exchange (ASX).
AM Best assigns stable outlook to Kuwait Insurance Company
LONDON: Insurance sector rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” with stable outlook to Kuwait Insurance Company. The ratings reflect KIC’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile…
Commercial Bank of Dubai posts 20.5% growth in net profit
DUBAI: The Commercial Bank of Dubai (CBD) has reported 20.5% increase in net profit to AED 1.4 billion for the 2019 full year. The result was delivered on the back of broad based business improvements aligned with the bank’s strategy. Impairment allowances increased by 6.2% as the bank prudently increased provisions for non-performing loans. Operating…
GPE signs £450 million ESG-linked revolving credit facility
LONDON: Great Portland Estates (GPE) signed a £450 million ESG-linked unsecured revolving credit facility (RCF) at a headline margin of 90 basis points over LIBOR with a group of five existing relationship banks. The facility has an initial five-year term which may be extended to a maximum of seven years at GPE’s request, subject to…
RusHydro signs loan agreement with VTB Bank
MOSCOW: RusHydro has announced signing of loan agreement with VTB Bank regarding revolving loan facility for 15 years with limit of up to RUB 30 billion. The maximum interest rate on the loan is equal to key rate set by the Central Bank of the Russian Federation plus 2.9%. RusHydro Group is the leading producer…
Mashreq posts net profit AED 2.1 billion for 2019
DUBAI, UAE: Mashreq Bank, one of the leading financial institutions in the UAE, has reported AED 2.1 billion net profit for the year ending December 31, 2019. Mashreq’s CEO, Ahmed Abdelaal, said: “Mashreq Bank continued to register strong performance and achieved a healthy net profit of AED 2.1 billion in the year. Importantly, this was…
Oman Insurance posts net profit of AED 190.5 million for 2019
DUBAI: Oman Insurance Company has reported a turnaround net profit of AED 190.5 million for the year ended December 31, 2019, making it one the best in last 5 years. This was achieved due to the forward-looking strategies defined in 2018 and with placing primary focus on customer satisfaction. Despite the challenging environment, with downward…
Drake & Scull International announces completion of key projects in Kuwait
DUBAI, UAE: Drake & Scull International (DSI), a regional market leader of integrated design, engineering and construction projects, has announced that its Kuwaiti subsidiary, Drake & Scull for Electrical Contracting (DSI Kuwait), has successfully completed major engineering and construction projects on the country’s Sheikh Saad Al-Abdullah Al-Salem Al-Sabah Indoor Sports Complex and Sabah Al-Salem University…
ANZ completes sale of OnePath P&I to IOOF Holdings
SYDNEY: Australia and New Zealand Banking Group (ANZ) announced it had successfully completed the sale of its OnePath Pensions & Investments (OnePath P&I) business to IOOF Holdings Limited (IOOF). The final sale price of $850 million included $25 million that ANZ had already received for the sale of its Aligned Dealer Groups in October 2018….
AM Best affirms credit ratings of Swiss Re’s subsidiary Elips Life Insurance Company
OLDWICK: Global rating agency, AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of Elips Life Insurance Company headquartered in Schaumburg, IL, USA. The outlook of these ratings is stable. elipsLife is an indirect subsidiary of Swiss Re Ltd (Swiss Re). The…
AM Best upgrades credit ratings of iptiQ Life S.A
LONDON: Insurance sector rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” from “a+” of Luxembourg based iptiQ Life S.A., the ultimate parent of which is Swiss Re Ltd. The outlook of these ratings is stable. The…
Etalon GDRs admitted to trading on Moscow Exchange
MOSCOW: Etalon Group Plc, Russia’s largest development and construction company, announced that Moscow Exchange has approved the listing of the Company’s Global Depositary Receipts (GDRs), and the inclusion of these securities in the Level 1 List. The first trading day for Etalon Group GDRs (ticker: ETLN) on Moscow Exchange is planned for 3 February 2020….