OSLO: Induct A.S, the leading innovation and project management platform, and ICREA, a leading advisory firm from Dubai, have entered into a partnership to expand Induct’s market penetration and global presence in USA, Europe, Africa, Indian Subcontinent, GCC, and CIS countries. Through this strategic partnership, Induct and ICREA provide a platform that has been engineered…
Challenging quarter impacts Shell Pakistan’s results
KARACHI: The Board of Directors of Shell Pakistan Limited (‘SPL’) announced the second quarter results for the company on 21stAugust. The company posted an after tax loss of PKR 3,540 million compared to the loss of PKR 1,704 million made in the same period last year. Q2 was a challenging quarter for the industry, COVID-19…
MSCI ESG Research raises PhosAgro’s sustainability rating to BBB
MOSCOW: PhosAgro, one of the world’s leading vertically-integrated phosphate-based fertilizer producers, announced that its MSCI ESG rating has been raised from BB to BBB as part of a regular review. MSCI ESG Research assigns MSCI ESG ratings to global public and a number of privately held companies. The ratings aim to measure a company’s resilience…
RenalytixAI, AstraZeneca to develop and launch precision medicine strategies
NEW YORK: Renalytix AI plc announced a collaboration with AstraZeneca to develop and launch precision medicine strategies for cardiovascular, renal and metabolic diseases. The first stage in the collaboration will use KidneyIntelX, an artificial intelligence-enabled in vitro diagnostic platform, to examine further improving outcomes for patients with chronic kidney disease (CKD) and its complications, in…
AM Best affirms credit ratings of Eurasia Insurance Company
LONDON: Insurance sector rating agency, AM Best has affirmed the credit ratings of Eurasia Insurance Company based on company’s strong operating performance, neutral business profile and appropriate enterprise risk management. AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Eurasia Insurance Company JSC (Eurasia)…
AM Best downgrades Armed Forces Insurance Exchange
OLDWICK: Global rating agency, AM Best has downgraded the credit rating of Armed Forces Insurance Exchange (AFIE) due to significant volatility in operating results and declining surplus, a news release said. However, the outlook for the rating has been revised to stable from negative. AM Best has downgraded the Financial Strength Rating to B+ (Good)…
SGX, FTSE Russell sign long-term strategic partnership across asset classes
SINGAPORE: Singapore Exchange (SGX), Asia’s leading international multi-asset exchange and FTSE Russell, a global index, data and analytics provider, have signed an agreement to strategically broaden and deepen their long-term partnership to deliver new Asian multi-asset solutions. Building on their long partnership history in Asia and successful track record in existing products, SGX and FTSE…
Westpac Group sells Vendor Finance business to Angle Finance
SYDNEY: Westpac Group has entered into an agreement for the sale of its Vendor Finance business to Angle Finance, a portfolio company of Cerberus Capital Management, L.P. Vendor Finance supports third parties to fund small ticket equipment finance loans to around 42,000 Australian businesses. The transaction is expected to result in the transfer of around…
Infigen welcomes Iberdrola appointees to the Board and thanks retiring directors
SYDNEY: Infigen Energy Limited announced the renewal of the boards of Infigen Energy Limited and Infigen Energy RE Limited as responsible entity of Infigen Energy Trust. The change in composition of the Board occurs within the context of the friendly off-market takeover offer for Infigen by Iberdrola Renewables Australia Pty Limited at 92 cents per…
Australian Primary Hemp to supply hemp seeds to Annex Foods for 2 years
MELBOURNE: Australian Primary Hemp Ltd (APH) announced an exclusive two-year agreement with Annex Foods Pty Ltd for the supply of hemp seeds. The Agreement is the culmination of a close collaboration between APH and Annex. The Agreement is valued at $760,000 and marks a significant milestone in APH’s strategy of expanding its ingredients supply business….
Malachite formalises acquisition of Sunshine Minerals Solomon Islands nickel
SYDNEY: Malachite Resources Limited has executed a Share Purchase Agreement to formalise its acquisition of the remaining 85% interest in Sunshine Minerals Limited that it does not already own. Malachite previously acquired 15% of Sunshine, a private company incorporated in the Solomon Islands. Sunshine owns 80% of Sunshine Nickel Limited (SNL) which holds prospecting licence…
Thoughtful Brands acquires ecommerce companies, Golden Path & Wild Mariposa
VANCOUVER: Thoughtful Brands Inc. announced the completion of its acquisition of Golden Path LLC and Wild Mariposa LLC, both are privately held fast-growth, direct-to-consumer eCommerce brands selling natural health products in the United States. The Company has acquired Golden Path and Wild Mariposa pursuant to purchase agreements entered into with the respect members of Golden…