SINGAPORE: The global insurance sector rating agency has revised the outlook for New India Assurance Company Limited to Negative from stable earlier, as the company’s deficiencies in financial reporting continue to result in audit qualifications. Whilst the company’s audited accounts have been qualified for several years as a result of internal control weakness in the…
Halo Labs completes C$5.682 million acquisition of Bophelo, appoints Louisa Mojela as Chair
TORONTO: Halo Labs Inc. has closed its previously announced acquisition of Bophelo Bioscience & Wellness (Pty) Ltd., a news release said. Halo now controls 100% of the issued and outstanding shares of Bophelo. Concurrently with closing, Ms. Louisa Mojela was appointed as a director and Chairman of Halo’s board of directors and Mr. Philip Van…
NexTech AR launches ScreenAR, video conferencing and virtual events solutions
TORONTO: NexTech AR Solutions (NexTech) has launched the new immersive video conferencing software called ScreenAR, a news release said. The new capabilities are seamlessly integrated into its InfernoAR platform using its ARitize app. The new AR features will allow for AR experiences to “pop” off the computer screen creating a one-of-a-kind immersive experience that everyone…
Humach acquires InfinitAI
PLANO: Humach LLC, a leading agent and technology outsourcer, has completed the acquisition of InfinitAI, a Colorado-based provider of purpose-built artificial intelligence (AI) technology and conversational design interface for contact center agent assistance. InfinitAI will accelerate Humach’s vision for intelligent contact centers that combine the strengths of both humans and machines to deliver exceptional customer…
Scatec Solar doubles production, progressing large project opportunities
OSLO: Scatec Solar’s second quarter 2020 proportionate revenues reached NOK 925 million with an EBITDA of NOK 417 million and associated EBITDA margin of 45%. Power production reached 406 GWh on proportionate basis, a doubling of electricity production from the same quarter last year. As the current portfolio of projects under construction is almost complete,…
Fjordkraft acquires Innlandskraft, strengthens position as leading electricity supplier in Norway
OSLO: Fjordkraft Holding ASA has entered into an agreement for the acquisition of 100% of the shares in Innlandskraft AS, a news release said. The key terms of the Transaction are as follows: The Transaction will be structured as an acquisition of all shares in the Target by the Company, from Gudbrandsdal Energi Holding AS…
AM Best affirms credit ratings of Arabia Insurance Company
LONDON: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of ARABIA Insurance Company s.a.l. (AIC) (Lebanon). The outlook of these ratings is negative. The ratings reflect AIC’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral…
AM Best affirms ratings of State Automobile Mutual Insurance and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of State Automobile Mutual Insurance Company (State Auto) and its operating subsidiaries. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of State Auto’s intermediate holding company, State Auto Financial Corporation…
Azure Minerals to acquire high quality gold and nickel projects from Creasy Group
PERTH: Azure Minerals Limited has entered into two Tenement Sale and Exploration Joint Venture Agreements with entities controlled by prominent mining prospector Mr Mark Creasy (Creasy Group); one to acquire 60% interest in the Andover nickel-copper project and another to acquire 70% interests in the Turner River, Meentheena and Coongan Gold Projects, located in the…
Alcidion signs $1.3 million contract extension with ACT Health for IT support services
MELBOURNE: Alcidion Group Limited has renewed its ongoing support services contract with ACT Health for two further years, a news release said. The contract extension is valued at $1.3 million and effective from 1 January 2021. The contract extension will see Alcidion continue to provide ongoing technical support services to ACT Health for their integrated…
BAE Systems gets $32 million contract from U.S. Army
STERLING HEIGHTS: BAE Systems has been awarded a $32 million prototype agreement by the U.S. Army’s Rapid Capabilities and Critical Technologies Office (RCCTO) to integrate a Hybrid Electric Drive (HED) system onto a Bradley Fighting Vehicle. The development program is part of the Army’s effort to increase vehicle efficiency and boost power generation to support…
U.S. infrastructure group standardizes on the IKE platform
SYDNEY: ikeGPS (IKE) announced that one of the largest communications infrastructure companies in the United States has standardized on the IKE platform for all pole-related 5G and fiber deployment processes. Relating to the announcement, IKE CEO Glenn Milnes, commented, “We are pleased to be working with this tier-1 infrastructure group. Our objective is to get…