MUMBAI, India: Mahindra & Mahindra Ltd. (M&M) has reported that its auto sector sales stood at 52,546 vehicles during January 2020, while Mahindra’s farm equipment sector sold 23,116 units in India during January 2020. In the passenger vehicles segment (which includes UVs, cars and vans), Mahindra sold 19,797 vehicles in January 2020, compared to 23,872…
AM Best affirms credit ratings of Swiss Re’s subsidiary Elips Life Insurance Company
OLDWICK: Global rating agency, AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of Elips Life Insurance Company headquartered in Schaumburg, IL, USA. The outlook of these ratings is stable. elipsLife is an indirect subsidiary of Swiss Re Ltd (Swiss Re). The…
AM Best upgrades credit ratings of iptiQ Life S.A
LONDON: Insurance sector rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” from “a+” of Luxembourg based iptiQ Life S.A., the ultimate parent of which is Swiss Re Ltd. The outlook of these ratings is stable. The…
Novacyt launches novel coronavirus test
PARIS: Novacyt S.A, an international specialist in clinical diagnostics, announced that its molecular diagnostics division, Primerdesign, has launched a new molecular test for novel coronavirus (2019-nCoV). As announced on 28 January, the research use only (RUO) test has been developed as a direct response to the recent outbreak of the respiratory virus in China. The…
GAN to provide simulated gaming software to Snoqualmie Casino
LONDON: GAN plc, business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (SaaS) to the US land-based casino industry, has agreed to supply its Simulated Gaming software to the Snoqualmie Indian Tribe, with new services anticipated to launch to customers in H1 2020. The Snoqualmie Indian Tribe owns and operates the Snoqualmie Casino located in Snoqualmie,…
Goodbody Botanicals secures product listing agreement with Alliance Healthcare
LONDON: Sativa Group’s subsidiary Goodbody Botanicals has secured a product listing agreement with Alliance Healthcare, one of the leading distributors and wholesalers of pharmaceutical, medical and healthcare products in the UK and Europe. This gives Alliance’s 10,000+ high street retailer customers access to the Goodbody Botanicals range of market-leading CBD products. Alliance Healthcare services independent…
Etalon GDRs admitted to trading on Moscow Exchange
MOSCOW: Etalon Group Plc, Russia’s largest development and construction company, announced that Moscow Exchange has approved the listing of the Company’s Global Depositary Receipts (GDRs), and the inclusion of these securities in the Level 1 List. The first trading day for Etalon Group GDRs (ticker: ETLN) on Moscow Exchange is planned for 3 February 2020….
Brexit bells ring for UK and EU insurers: AM Best
LONDON: Global credit rating agency, news publisher and data analytics provider, AM Best has said that from an operational point of view, the United Kingdom’s departure from the European Union on 31 January 2020 will have little immediate impact on insurers in the U.K. and EU that it rates. However, it adds that trade negotiations…
AppsVillage launching online store enabling mobile apps marketplace for SMBs
SYDNEY: AppsVillage Australia Ltd, a SaaS solutions provider for small and medium businesses (SMBs), has expanded its operations with the beta launch of the SMB app store and marketplace, branded the AppsVillage Store, to drive online exposure and promote SMBs and generate further revenues for AppsVillage. The AppsVillage Store is accessible via store.appsvillaqe.com, specifically designed…
Klarna launches in Australia with CBA
SYDNEY: Commonwealth Bank customers will be able to benefit immediately from using one of the world’s largest and most innovative buy now pay later online shopping services following Thursday’s official launch of Klarna Australia. By accessing Klarna through the country’s market-leading banking app, CBA customers can quickly register and begin shopping at any online store….
TANNED gaining significant momentum with Pacific magazines marketing partnership
MELBOURNE: Australia based Wellness and Beauty Solutions Limited has reported significant progress and momentum for its flagship wholly owned product TANNED. TANNED has been created as a distinctly unisex Australian brand promoting safe sunless tanning and the values of diversity, inclusion and self-confidence. This purpose driven proposition combined with a competitive price point is disrupting…
PSC Insurance to acquire Australian Unity for $1.56mn
MELBOURNE: PSC Insurance Group (PSI) has entered into an agreement to acquire the general insurance broking business of Australian Unity (AU). Australian Unity have general insurance broking operations predominantly in Sydney which generates approximately $625,000 of revenue pa. PSI will be purchasing the business of AU for approximately $1.56 million which represents 2.5x revenue. Key…