CALGARY: Canadian Overseas Petroleum Limited announced that its 50% owned joint venture company, Shoreline Canadian Overseas Petroleum Development Corporation (ShoreCan) has reached an agreement in principle with Essar Exploration & Production Limited Mauritius on a way forward to resolve their disputes with each other concerning, among other things, their respective obligations under Essar Nigeria Shareholders…
Police Mutual Assurance becomes part of Royal London Mutual Insurance
LONDON: The Royal London Mutual Insurance Society Limited and Police Mutual Assurance Society Limited entered into an agreement for the business, assets and liabilities of Police Mutual to transfer into Royal London. Commenting on the merger, Royal London Chief Executive, Barry O’Dwyer, said: “Royal London and Police Mutual have complementary values and culture. Both are…
Emirates Post resumes postal services to Pakistan
DUBAI, UAE: Emirates Post has announced the resumption of all mail, packets and parcel services to Pakistan, providing the UAE’s Pakistani community as well as businesses a cost-effective channel to the high-volume market. Pakistan is one of Emirates Post’s key markets in South Asia, accounting for nearly 80 tons of postal material in 2019. “Pakistan…
UAC Energy acquires 12.82% interest in Infigen Energy for AUD 90.4 million
SINGAPORE: UAC Energy Holdings Pty Ltd, an affiliate of AC Energy, has directly and indirectly acquired a 12.82% stake in Infigen Energy Limited for AUD 90.4 million. Infigen is a renewable energy developer, generator and retailer listed in the Australian Securities Exchange that owns and operates 670MW of wind farms all over Australia, as well…
Moody’s takes rating actions on 11 Indian banks following sovereign downgrade
SINGAPORE: Moody’s Investors Service has taken rating actions on 11 Indian banks following sovereign downgrade. Rating action has been taken on following banks: Bank of Baroda (BOB), Bank of India (BOI), Canara Bank (Canara), Central Bank of India (CBI), Export-Import Bank of India (EXIM India), HDFC Bank Limited (HDFC Bank), Indian Overseas Bank (IOB), IndusInd…
Granite REIT announces C$500 million green bond offering
TORONTO: Granite Real Estate Investment Trust’s wholly owned subsidiary Granite REIT Holdings Limited Partnership (Granite LP) has priced an offering of C$500 million aggregate principal amount of 3.062% Series 4 senior unsecured debentures due June 4, 2027. The Debentures will be guaranteed by Granite and Granite REIT Inc. The Offering of the Debentures is expected…
Civil unrest drives record sales of Byrna Technologies’ personal security device
WAKEFIELD: Byrna Technologies Inc. reports record online sales this weekend as civil unrest and wide scale looting in cities large and small across the United States drove demand for the Byrna HD personal security device. The Byrna HD, which requires no license or permit to own, uses CO2 to fire chemical irritant projectiles containing pepper…
Blueberries commences commercial sales of proprietary cultivars to local partners
TORONTO: Blueberries Medical Corp., a Latin American licensed producer of medicinal cannabis and cannabis-derived products, has officially commenced sales of its proprietary cultivars approved by the Colombian Institute of Agriculture (ICA). Blueberries has entered into multiple sales agreements to distribute its proprietary genetics to licensed producers located in Bogota Savannah, the region where the Company…
AM Best revises outlook on Spanish insurance market
LONDON: AM Best has assigned a negative market segment outlook to the Spanish life insurance market. Key supporting factors include AM Best’s expectation of a negative impact on earnings and solvency metrics due to the financial market volatility and global recession driven by the coronavirus (COVID-19) pandemic, a reduced demand for savings products and an…
Great Thunder Moves to Canadian Securities Exchange
VANCOUVER: Great Thunder Gold Corp. announced that the Canadian Securities Exchange (CSE) has approved the Company’s application to list its common shares on its exchange. Great Thunder’s CEO Rich Macey states, “Listing on the CSE is a strategic positioning, like how we positioned our Company perfectly in the centre of one of the hottest Canadian…
COVID-19 throws spotlight on London Market modernisation
LONDON: While many London Market participants began 2020 generally optimistic on the back of signs of pricing improvement, the COVID-19 pandemic has cast a shadow over performance expectations for the rest of the year. It has also thrown a spotlight on the market’s modernisation efforts and might even accelerate some long-awaited changes to the way…
Bank ABC Group enters founding partnership agreement with Bahrain Fintech Bay
MANAMA, BAHRAIN: Bank ABC entered a founding partnership with Bahrain Fintech Bay (BFB). This strategic alliance illustrates Bank ABC and Bahrain FinTech Bay‘s continued commitment to play a pivotal role in the development of the fintech ecosystem in the Kingdom of Bahrain and expedite its transformation into a cashless, digital economy. As part of the…