SINGAPORE: Singapore Exchange (SGX) has welcomed Southern Alliance Mining Ltd. to its Catalist under the stock code “QNS”. Southern Alliance Mining Ltd. opened at S$0.26 on Friday. Southern Alliance Mining Ltd. is an established producer of high-grade iron ore products in Malaysia, principally involved in the exploration, mining and processing of iron ore for sale….
Bain Capital moves forward to become new owner of Virgin Australia
SYDNEY: Virgin Australia moves to re-launch with the announcement that Bain Capital has entered into an agreement with its administrators to become the new owner of the airline. Virgin Australia will now work closely with Bain Capital on its vision for the business moving forward. Virgin Australia Chief Executive Officer and Managing Director, Paul Scurrah,…
Cloud IT infrastructure spending grows 2.2%; non-cloud environments saw double-digit declines in Q1 2020
FRAMINGHAM: According to the International Data Corporation (IDC) Worldwide Quarterly Cloud IT Infrastructure Tracker, vendor revenue from sales of IT infrastructure products (server, enterprise storage, and Ethernet switch) for cloud environments, including public and private cloud, increased 2.2% in the first quarter of 2020 (1Q20) while investments in traditional, non-cloud, infrastructure plunged 16.3% year over…
Ingram Micro introduces advanced solutions strategy and leadership for Asia Pacific
IRVINE: Executing against its global advanced solutions strategy, Ingram Micro Inc. noted a series of growth investments spanning the Asia Pacific region, which accounts for 10 countries. In addition, ASEAN Vice President and Country Chief Executive (CCE), Francis Choo, will expand his role to include oversight of the new Advanced Solutions strategy. The organic 2020/2021…
Viktor Zubkov reelected as Chairman and Alexey Miller as Deputy Chairman of Gazprom Board of Directors
LONDON: A meeting of the Company’s newly elected Board of Directors was held in absentia. The meeting resolved to elect Viktor Zubkov as Chairman of the Gazprom Board of Directors. Alexey Miller, Chairman of the Gazprom Management Committee, was named as Deputy Chairman of the Company’s Board of Directors. The Board of Directors formed the…
Australis Capital to acquire Passport Technology in an over $22 million deal
TORONTO: Australis Capital Inc. (AUSA) has entered into an agreement to acquire Passport Technology Inc., leveraging Passport’s international footprint in brick and mortar casinos with AUSA’s Cocoon Technology serving cannabis dispensaries in North America and AUSA’s Paytron Merchant Services. In connection with and contingent on completion of the Passport Acquisition, AUSA also announces a non-brokered…
Choom’s Ontario expansion continues with its first Toronto location
VANCOUVER: Choom, who has secured an extensive national retail footprint, continues to build momentum after the successful opening of its latest flagship location in Vancouver, with plans to replicate its success in Toronto. Choom has strategically chosen the young, creative, and bustling neighborhood of Liberty Village, next to the downtown core of Toronto. The village…
Algernon receives ethics approval for U.S. sites for human study of ifenprodil for covid-19
VANCOUVER: Algernon Pharmaceuticals Inc., a clinical stage pharmaceutical development company, has received ethics approval from a central institutional review board for U.S. study sites for its multinational Phase 2b/3 human study of NP-120 (Ifenprodil) for COVID-19. Ifenprodil is an NMDA receptor antagonist specifically targeting the NMDA-type subunit 2B. The Company has also signed agreements with…
U.S. insurance companies’ exposures to commercial mortgage loans crossed $522bn
OLDWICK: According to insurance sector rating agency AM Best, the U.S. life/annuity (L/A) insurance companies continued to increase their exposures to commercial mortgage loans in 2019 and now hold more than $522 billion, up significantly from $382 billion in 2015. The Best’s Special Report, titled, “Commercial Mortgage Loans Increasing, Credit Quality Decreasing,” notes that U.S….
London Life International Reinsurance assigned strong ratings with stable outlook
OLDWICK: Rating agency AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life International Reinsurance Corporation (LLIRC) (Barbados). The outlook assigned to the Credit Ratings is stable. London Life is rated as part of the group rating for The Canada Life Assurance Company…
AM Best affirms credit ratings of Samsung Fire & Marine Insurance of Europe Limited
LONDON: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Samsung Fire & Marine Insurance Company of Europe Limited (SFME) (United Kingdom). The outlook of these Credit Ratings is stable. The ratings reflect SFME’s balance sheet strength, which AM Best categorises as very strong,…
Performance bond demand spotlights differences between approaches of European and US models
LONDON: European governments need to seriously consider the behavioural consequences of different performance bond models for government investment projects, especially as they embark on projects to kick-start COVID-19-affected economies. In its new Best’s Special Report, “Performance Bonds—Demand Spotlights Different Approaches”, AM Best notes that the difference between European and U.S. performance bond formats reflect a…