SINGAPORE: Global rating agency, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of China Taiping Insurance (Singapore) Pte. Ltd (CTPIS). China Taiping Insurance is a wholly owned subsidiary of China Taiping Insurance Holdings Company Limited (CTIH), which is ultimately majority owned by China Taiping…
Huawei and RAIN partner to jointly launch first standalone 5G network in Africa
BEIJING: Rain, South Africa’s data-only mobile network launched its first Standalone 5G (SA 5G) network in the country. Powered by Huawei, this is the first commercial standalone 5G network in Africa. Rain’s Standalone 5G is currently available in Cape Town covering areas including Sea Point in Cape Town, Claremont, Goodwood, Bellville, Durbanville, and Cape Town…
Interferon treatment trial appears to be a major breakthrough against COVID-19
TORONTO: The preliminary results of a clinical trial by a UK biotech suggests that an interferon inhalation treatment for COVID-19 reduces the number of patients needing intensive care. In the UK study, the treatment was delivered through a nebulizer and inhaled directly into the lungs of patients with coronavirus. The initial findings suggest the treatment…
Berkshire Partners joins with Eric Roza to acquire CrossFit
BOSTON: Berkshire Partners, a Boston-based investment firm, announced it has jointly entered into an agreement with technology entrepreneur and CrossFit gym owner Eric Roza to acquire CrossFit. In the 20 years since its founding, CrossFit has grown from a garage gym in Santa Cruz, California, to become a leading global health and fitness brand, improving…
Pamela O’Rourke selected as a 2020 Most Admired CEO Honoree by Houston Business Journal
HOUSTON: Pamela Chambers O’Rourke, Founder and CEO of ICON Information Consultants, LP, has been named as a 2020 Most Admired CEO Honoree, an award which honors outstanding and admirable Houston-area CEOs. Judges scored each candidate based on his or her contribution to company success, civic involvement, career achievement and more. The judges selected 31 for-profit…
sPower closes on $700 million construction financing for 620 MW Spotsylvania Solar Energy Center
SALT LAKE CITY: sPower, a leading renewable energy Independent Power Producer (IPP), announced that the company closed on $700+ million construction/term loan financing for Spotsylvania Solar Energy Center in Spotsylvania County, Virginia. At 620 MW DC, this is the largest solar project east of the Rockies. The project is currently under construction, with phases coming…
Georgia Global Utilities issues $250 million green bonds
LONDON: Georgia Capital PLC announced that the holding company of the Group’s water utility business and the operational renewable energy assets (JSC Georgia Global Utilities or “GGU”) has successfully priced an inaugural US$ 250 million green bond offering on 23 July 2020. The Regulation S/Rule 144A senior unsecured US$-denominated 7.75% green notes, with a 5-year…
Magnit will acquire the leasehold rights for Evroros stores in Murmansk
KRASNODAR: Magnit PJSC, one of Russia’s leading retailers, announced that it has reached an agreement to acquire long-term leasehold rights for the 89 stores currently operating under Evroros, Yablochko, and Tvoy brands in Murmansk and Murmansk region. Fifty-five stores are located in Murmansk, with the remaining ones spread across 11 cities of Murmansk region, including…
FE Investments appoints liquidators to wholly owned New Zealand subsidiary
PERTH: FE Investments Group Limited has appointed Rhys Cain and Rees Logan of Ernest and Young (EY) as liquidators of its wholly owned New Zealand subsidiary, FE Investments Limited (FEIL). Cain and Logan have been appointed to protect the interests of creditors of FEIL and amongst their other duties, to undertake any statutory investigations that…
REPAY acquires AP automation provider cPayPlus for $16 million
ATLANTA: Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, announced the acquisition of cPayPlus LLC for up to $16.0 million, of which $8.0 million was paid at closing. The remaining $8.0 million may become payable in the third quarter of 2021, dependent upon the achievement of certain growth targets. The closing of the…
Health Discovery files infringement suit against Intel Corporation
ATLANTA: Health Discovery Corporation, an intellectual property development company with an intellectual property portfolio using patent protected advanced mathematical techniques, announced that it has filed an infringement lawsuit against Intel Corporation. This infringement suit pertains to Health Discovery’s Support Vector Machine-Recursive Feature Elimination methods (SVM-RFE) patents. On February 27, 2019, the United States Patent and…
Lineage Logistics signs definitive agreement to acquire Ontario Refrigerated Services
NOVI: Lineage Logistics LLC, the world’s largest and most innovative provider of temperature-controlled logistics solutions, announced it has signed a definitive agreement to acquire Ontario Refrigerated Services Inc. (ORS), a leading family-operated cold storage company offering temperature-controlled space in the Greater Toronto market, marking Lineage’s entrance into the Canadian market. Established in 2003 by Founder…