LONDON: Reabold Resources notes the announcement made by ADX Energy Ltd regarding an update on the drilling of the Iecea Mica-1 (IM-1) appraisal well, located within the Parta license, onshore Romania. Drilling has been completed safely and hydrocarbons have been discovered in multiple zones, a release issued to London Stock Exchange noted. Reabold holds a…
MPL wins £5.5 million contract with Tata Projects and Daewoo Engineering
MUMBAI: Mercantile Ports & Logistics (MPL) announced that its wholly owned subsidiary Karanja Terminal and Logistics Private Limited (KTLPL) has signed a binding contract with Tata Projects Limited and its joint venture partner Daewoo Engineering and Construction. Mercantile Ports & Logistics (MPL) is developing a modern port and logistics facility in Navi Mumbai, Maharashtra, India….
Daiwa Securities and Global X to establish a JV to expand domestic ETF business
TOKYO, JAPAN: Daiwa Securities Group Inc., Daiwa Asset Management Co. Ltd. and Global X Management Company Inc. will collaborate in the asset management business, and establish a joint venture (JV), Global X Japan Co. Ltd., to support their customers’ asset building through their new Exchange Traded Fund (ETF) solutions to investors in Japan. The global…
China Jinjiang Environment outlook uplifted to ‘Positive’ by S&P Global Ratings
SINGAPORE: China Jinjiang Environment Holding Company Limited, a leading Waste-to-Energy operator in China, announced that S&P Global Ratings has upgraded the Company’s outlook from negative to positive. This comes on the back of the successful acquisition on 21 August 2019 of 29.79% of Jinjiang Environment’s shares by a wholly-owned subsidiary of Zhejiang Provincial Energy Group…
Aldar launches first residential land community on Saadiyat Island
ABU DHABI, UAE: Aldar Properties has launched today its first residential community in the heart of Saadiyat Island – Saadiyat Reserve. The AED 722 million community features 306 infrastructure enabled land plots open to buyers of all nationalities. This is the first land plot development to be launched on Saadiyat Island since the introduction of…
SHUAA Capital exiting non-core businesses
DUBAI, UAE: SHUAA Capital, the UAE-based financial services group which recently completed a transformational merger with Abu Dhabi Financial Group L.L.C. announced that it has agreed to sell its SHUAA Securities brokerage and market-making businesses in the UAE to IHC RSC Ltd, a subsidiary of International Holdings Company (IHC), pending regulatory approvals. IHC is an…
Pakistan to complete 21 years of regular participation at Intertextile Shanghai
KARACHI: At the 25th Anniversary of Intertextile Shanghai Apparel Fabrics, Pakistan will complete its 21 years of regular participation, as 32 Pakistani companies under the auspices of Trade Development Authority of Pakistan (TDAP) are participating in the event. It may be mentioned here despite over 30 percent rupee devaluation, country’s overall textile sector exports declined…
HKEX signs MOU with Ping An Insurance Group
HONG KONG: Hong Kong Exchanges and Clearing Limited (HKEX) has entered into a memorandum of understanding (MOU) with Ping An Insurance Company of China Limited to explore possible areas of cooperation and collaboration in Fintech and data analytics to enhance the region’s financial market ecosystem. HKEX Chief Executive, Charles Li, joined Ping An Chairman, Ma…
Ratings of insurance companies under review in aftermath of Hurricane Dorian
LONDON: Rating agencies have placed the credit ratings under review with developing implications for the major property, casualty and life/health insurance companies operating in the Bahamas. These rating actions are a result of the devastation caused by Hurricane Dorian and the limited information that is currently available with regard to loss of life and property,…
Dahua Technology USA announces product lineup for GSX 2019
IRVINE–(BUSINESS WIRE)–Dahua Technology, a world-leading, video-centric, video surveillance equipment manufacturer, has announced their product lineup for the Global Security Exchange (GSX), 2019. Dahua has been focused on empowering its customers through technology to help them grow their business and ensure that they have the market’s latest in leading edge technology. At GSX, Dahua will continue…
AM Best revises outlooks to positive for Heartland Fidelity Insurance
OLDWICK: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Heartland Fidelity Insurance Company, Washington D.C. The credit ratings reflect Heartland’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating…
AM Best affirms credit ratings of ERGO Insurance
SINGAPORE: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of ERGO Insurance Pte. Ltd., Singapore. The Credit Ratings (ratings) of ERGO Insurance reflect its balance sheet strength, which AM Best categorizes as strong, as well as its marginal operating performance, limited business…