OLDWICK: With mortgage delinquency rates expected to dramatically increase due to COVID-19 pandemic-related forbearance and job loss, AM Best has explored the spillover effect into the mortgage-related activities of the reinsurance industry. Reinsurers have been assuming incrementally more U.S. mortgage risk from two main sources: Fannie Mae and Freddie Mac (i.e., the government-sponsored enterprises [GSEs]);…
Dubai Financial Market Company posts net profit of AED 34.7 million in Q1-2020
DUBAI: Dubai Financial Market Company announced its financial results for the first quarter of the year ending 31 March 2020, reporting a net profit of AED 34.7Million, a 24% increase compared to AED 28.1 Million during the corresponding period of 2019. The Company’s total revenue has increased by 13% to AED 88.2 Million in Q1-2020…
Amanat Holdings appoints Dr. Mohamad Hamade as CEO
DUBAI: Amanat Holdings PJSC, the GCC’s largest healthcare and education investment company, announced the appointment of Dr. Mohamad Hamade as Chief Executive Officer (“CEO”) of the company. Dr. Hamade, previously the Chief Investment Officer (“CIO”) of Amanat Holdings, succeeds Mr. Tristan de Boysson who held the position as the CEO of Amanat since February 2019…
NewLeaf Brands to acquire 100% stake in Mindleap Health through share exchange
VANCOUVER: NewLeaf Brands Inc. has signed a non-binding Letter of Intent (“LOI”) with Mindleap Health Inc., pursuant to which NewLeaf Brands will acquire, by way of share exchange, 100% of all of the issued and outstanding securities of Mindleap, an arm’s-length company. Mindleap is an advanced digital health platform that helps people connect with mental…
Softlab9 Software Solutions enters LoI to acquire CleanGo GreenGo
VANCOUVER: Softlab9 Software Solutions Inc. has entered into a letter of intent to acquire CleanGo GreenGo Inc., a privately held Alberta company that is the developer of a long lasting disinfectant technology that is eco-friendly and biodegradable. The final structure of the transaction will be determined by the parties following the receipt of tax, corporate…
TRACEsafe signs agreements with Kuwait, another Southeast Asian country
TORONTO: TRACEsafe Technologies Inc. has entered into advanced pilot stage programs for its TRACEsafe technology with Kuwait and an additional Southeast Asian country. The Southeast Asian country (unnamed at this time under confidentiality obligations) is using TRACEsafe original hardware and software packages to manage self-quarantine. Kuwait is utilizing TRACEsafe hardware to deploy an innovative safety…
Media Central launches AdCentralDirect, an in-house mobile and cross-channel demand side platform
TORONTO: Media Central Corporation Inc. today announced the launch of AdCentralDirect (ACD) an in-house mobile and cross-channel demand side platform (DSP) agency that connects digital advertising inventory through one interface. AdCentralDirect is expected to be operational in June 2020. AdCentralDirect will immediately provide brands access to advertising inventory on the digital platforms of MediaCentral’s iconic…
Nearly nine million U.S. consumers have joined Afterpay platform
SAN FRANCISCO: Afterpay, the leader in “Buy Now, Pay Later” payments, announced that there are now more than five million active shoppers in the U.S. using the service at Afterpay merchant partners. Afterpay now has nearly nine million U.S. consumers who have joined the platform, including more than one million new customers using the platform…
MTI Wireless Edge pursues continued expansion into the Chinese market
LONDON: Mottech Water Solutions Ltd, a provider of wireless irrigation control solutions, has signed an agreement to acquire its joint venture partner’s 40% holding in a joint venture it established in China in 2017 (Mottech China). Following this acquisition, Mottech China is now a fully owned subsidiary of the Company. As announced in 2017, Mottech…
CDC Data Centres to develop two world-class data centres in New Zealand
WELLINGTON: Infratil Limited announced that CDC Data Centres (“CDC”) is expanding into New Zealand. CDC is a state of the art Data Centre colocation provider delivering world class enterprise facilities and services. CDC intends to develop two world-class hyperscale data centres on development sites in Auckland, New Zealand with capacity in the near term up…
Stobart Group Limited sells Eddie Stobart and Stobart brands
LONDON: Stobart Group, the aviation and energy group, announced that its wholly owned subsidiary Stobart Group Brands LLP has sold the Eddie Stobart and Stobart trademarks and designs to Eddie Stobart Logistics for a total consideration of £10 million. Stobart Group will change its name prior to February 2021. However, there are a number of…
Samsung Galaxy S20+ is top 5G smartphone model in US in Q1 2020
BOSTON: According to the latest research from Strategy Analytics, Samsung Galaxy S20+ 5G was the bestselling 5G smartphone model in the United States in the first quarter of 2020, capturing an impressive marketshare of 40 percent. Ken Hyers, Director at Strategy Analytics, said, “US 5G smartphone shipments reached a total of 3.4 million units in…