Pakistan to replace national payment gateway with state-of-the-art Automated Transfer System
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...
Negative implications and downgraded credit ratings of National Insurance Company
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...
AM Best downgrades credit ratings of Oriental Insurance Company Limited
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...
Argo Blockchain announces new mining hardware delivers faster-than-expected returns
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...
Panicos Nicolaou appointed CEO of Bank of Cyprus
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...
Bolivia insurance industry outlook stable as companies sustain growth trend
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...
South Korea insurers prepare to face new accounting and solvency rules
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...
Al Salam Bank’s H1 profit rises by 30 percent to USD 32.62 million
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...
Nomura signs MOU for business alliance with San-in Godo Bank and Gogin Securities
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...
Anglo American appoints Goldman Sachs
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...
Metalloinvest signs agreement with 12 banks for receiving ECA backed financing
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...
Liberty Mutual Insurance finalizes sale of Pembroke and Ironshore Europe businesses to Hamilton
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...