LONDON: S&P Global Ratings lowered its long-term foreign-currency sovereign credit rating on the Republic of South Africa to ‘BB-‘ from ‘BB’ and affirmed the ‘B’ short-term foreign-currency sovereign rating, with a stable outlook. At the same time, the long-term local currency sovereign credit rating for South Africa was lowered to ‘BB’ from ‘BB+’ and the…
Nazim Efendiev appointed CEO of Metalloinvest
MOSCOW: Metalloinvest Finance, a leading global iron ore and HBI producer and supplier and one of the regional producers of high-quality steel, has announced the appointment of Nazim Efendiev as CEO of Management Company Metalloinvest. He will combine the new role with the duties of First Deputy CEO, Sales Director. Ivan Streshinsky, Chairman of the…
Pakistan’s overall petroleum products’ sales decline 36% to 1.1mn tons
KARACHI: Pakistan’s overall petroleum products sales by oil marketing companies (OMCs) during April 2020 declined by 36 percent YoY to 1.1 million tons as economic activities declined significantly across country on the back of COVID-19 concerns, latest numbers issued by Oil companies Advisory Committee (OCAC) suggests. “As per market sources, oil consumption witnessed a rising…
SGX and AMTD International form partnership to enhance connectivity of financial markets
SINGAPORE: AMTD International and Singapore Exchange (SGX) have entered into a long-term strategic partnership to promote the development of Singapore’s capital markets and strengthen connectivity between Singapore, ASEAN, the Greater Bay Area, the rest of China and the Middle East. Through this collaboration, AMTD International and SGX will work together to meet the growing market…
Alfa Financial announces new contract win with an auto finance solutions provider
SYDNEY: Alfa Financial Software Holdings, a leading developer of mission-critical software for the asset finance industry, announced a new contract win with a leading provider of auto finance solutions. Company expects this new contract to rank in the middle tier, by monetary value, relative to other Alfa implementations. The agreement, which is with an existing…
Sigma Capital appoints Ian Sutcliffe as Non-executive Chairman
LONDON: Sigma Capital has announced the appointment of Ian Sutcliffe as Non-executive Chairman with immediate effect. Ian brings a wealth of board level experience in both house building and other companies. Most recently he was Group Chief Executive of Countryside Properties plc, until his retirement earlier this year, and Senior Independent Director at Ashtead Group…
MC Mining announces recommencement of coal production and lockdown update
LONDON: MC Mining Limited has provided a market update with regards to the impact on the Company of the global COVID-19 pandemic. MC Mining remains focused on taking the necessary precautions to prevent the spread COVID-19 and reducing the threat to our employees, contractors and stakeholders. Operations at the Uitkomst Colliery: The South African Government…
OptiBiotix Health signs deal for distribution of products in China and Hong Kong
LONDON: OptiBiotix Health plc has entered into a three-year distribution agreement with Pierce Group Asia subsidiary, Pierce ESIM Pte Limited. Founded in 2002 and headquartered in Singapore, Pierce specialises in cross border corporate development and investments with a focus on high growth partnerships. Pierce is an Asian focused B2B product developer and distributor with an…
Gaming Realms launches Slingo Originals on 888casino.com
LONDON: Gaming Realms plc has extended its licensing and revenue share agreement with 888 Holdings plc (888). Gaming Realms creates and licenses innovative games for mobile, with operations in the UK, U.S. and Canada. Through its unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. Under…
Kazatomprom signs uranium supply contract with Dioxitek
NUR-SULTAN, KAZAKHSTAN: JSC National Atomic Company “Kazatomprom” (Kazatomprom) announced that it has entered into a definitive commercial agreement for the supply of natural uranium with Dioxitek S.A. of Argentina. In February 2020, Kazatomprom was successful in winning Dioxitek’s public tender to supply natural uranium concentrate for the needs of the Argentinian nuclear power industry. This…
Anglo American Platinum ramps up ACP plant to restart refined PGM production
LONDON: Anglo American Platinum, a global mining company, has safely and successfully completed the repair of the Anglo Converter Plant (ACP) Phase B unit. The ACP and full downstream processing operations are completing a safe ramp-up and expect to be fully operational from 12 May 2020. Force majeure to suppliers of concentrate will be lifted…
Norwegian Air Shuttle nearly completes recapitalization process
OSLO: Norwegian Air Shuttle ASA has received strong support from lessors for a minimum conversion to equity of USD 730 million (excluding conversion under the so-called power-by-the-hour arrangement), up from the previously announced USD 550 million. The conversion is supported by a significant number of lessors and the Company continues to discuss with other of…