MANAMA: As part of Bahrain Bourse’s (BHB) continuous efforts to develop the capital market in the Kingdom of Bahrain, and in line with BHB’s strategic goal of “Cultivating Capital Raising & Investment Opportunities”, Bahrain Bourse has introduced the Murabaha service for banks and corporates. The service aims to meet the growing needs of Interbank, corporate…
Bank ABC reappoints SICO as market maker on Bahrain Bourse
MANAMA: Bank ABC has received the Central Bank of Bahrain’s (CBB) approval to re-appoint the Securities and Investment Company B.S.C. (SICO) as the designated market maker with respect to the Bank’s ordinary shares listed on the Bahrain Bourse (BHB). The approval is valid for 12 months starting on 28th May 2020 until 28th May 2021,…
AM Best affirms credit ratings of Pacific LifeCorp and its subsidiaries
OLDWICK: Global insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of the members of Pacific Life Group (Pacific Life): Pacific Life Insurance Company and Pacific Life & Annuity Company. Both companies are headquartered in Newport Beach, CA. Additionally,…
AM Best affirms credit ratings of Redbridge Insurance with stable outlook
MEXICO CITY: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Redbridge Insurance Company Limited (RICL) of Barbados. The outlook of these Credit Ratings remains stable. The ratings reflect RICL’s balance sheet strength, which AM Best categorizes as very strong, as well as its…
AM Best downgrades credit ratings of Consumer Insurance Services Limited
SINGAPORE: AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” from “bbb” of Consumer Insurance Services Limited (CISL) of New Zealand. The outlook of these Credit Ratings has been revised to stable from negative. The ratings reflect CISL’s balance sheet strength, which…
Yeahka Limited commences trading on the Hong Kong stock exchange
HONG KONG: Yeahka Limited, China’s leading payment and business service technology platform commences trading on the Main Board of Stock Exchange of Hong Kong Limited on June 1st 2020, under the stock code of 9923. CLSA, Nomura and ABCI are the joint sponsors. The total number of offer shares under the global offering amounts to…
ZF completes acquisition of commercial vehicle technology supplier WABCO
FRANKFURT: ZF Friedrichshafen AG has successfully completed the acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities. WABCO shares, previously listed on the New York Stock Exchange, cease public trading with immediate effect. Signalling the start of WABCO’s integration into ZF, the acquisition unites two industry leaders behind a…
MJardin terminates the acquisition of Cannabella
TORONTO: MJardin Group Inc, a leader in premium cannabis production, has terminated its previously announced acquisition of Carson City Agency Solutions, dba Cannabella, a producer of edibles and topical located in Carson City, Nevada. The acquisition, which was expected to close in late 2019, could be terminated by the parties if the transaction hadn’t closed…
Home décor retailer Pier 1 to wind down business operations
FORT WORTH: Pier 1 Imports Inc. has received approval from the U.S. Bankruptcy Court for the Eastern District of Virginia for the Company’s planned wind-down of operations. Pier 1 intends to initiate store closing efforts and liquidation sales once store locations can reopen, in compliance with COVID-19 guidelines from local government and health officials. The…
AHF slams Trump administration for abandoning World Health Organization during pandemic
WASHINGTON: AIDS Healthcare Foundation (AHF) sharply criticized the Trump administration for its announcement earlier that it is withdrawing U.S. membership in the World Health Organization (WHO) after cutting hundreds of millions in funding to the global organization in recent weeks. Despite the fact that WHO badly bungled its global COVID-19 response and abetted China’s cover…
Cromwell European REIT releases FY2019 sustainability report; achieves all ESG targets
SINGAPORE: Cromwell EREIT Management Pte. Ltd., the manager of Cromwell European Real Estate Investment Trust released sustainability report for the financial year ended 31 December 2019, wherein it is reported the Manager achieved all environmental, social, and governance (ESG) targets set by the board, and even surpassed some of them. The Manager’s Chief Executive Officer,…
AT&T announces settlement of Euro and USD bond issuances and early repayment of debt
DALLAS: AT&T Inc. continues to actively de-risk its capital structure, extending debt maturities at historically low coupons. On May 27, 2020, AT&T closed its sale of €3 billion combined principal amount of its Global Notes due 2028, 2032 and 2038. Additionally, the company announced today the settlement of $12.5 billion combined principal amount of its…