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Yashoda Medicare & Research Centre gets BBB- from CARE
2 November 2010 - CARE on Monday assigned its BBB- rating to the INR350m long-term bank facilities of Yashoda Medicare Research Centre Private Ltd. The agency issued the following press release: Rating Facilities Amount (Rs. crore) Ratings1...
ICBC Refinancing Plan to be Examined Soon
The China Securities Regulatory Commission November 1 stated in an announcement that it was to examine the additional share offering plan by Industrial and Commercial Bank of China (ICBC, SHSE: 601398, SEHK: 1398) on November 5. The ICBC bo...
Nycomed Spent USD210mn Controlling Techpool
SHANGHAI, November 2, SinoCast ? Swiss pharmaceutical company Nycomed on November 1, 2010 announced that it had acquired a 51.34% stake in Guangdong Techpool Bio-Pharma Co., Ltd. at USD 210 million to become the controlling shareholder of t...
S&P revises Alico Japan outlook to "positive"
2 November 2010 - SP on Monday changed to positive from negative its rating outlook on Alico Japan, mimicking the same action it took on the parent, US-based American Life Insurance Company (Alico). The agency believes Alico will become a c...
AUST'S AMP POSTS DROP IN Q3 CASH FLOW, RISE IN ASSETS UNDER MGMT
Australia's AMP Ltd (ASX:AMP) has seen a 53 per cent fall in third quarter cash flows, but assets under management (AUM) have increased due to improved market conditions. The wealth manager said net cashflows in the three months to Septembe...
Canada to cap rises in premiums of job insurance
Canadian Finance Minister Jim Flaherty said on Thursday the government will limit increases in employment insurance premiums to avoid derailing economic recovery. Increases in employment insurance premiums will be limited to 5 Canadian cent...
2010 "Employee Benefit Adviser of the Year"
Digital Insurance Inc., an employee benefits agency specializing in insurance for small businesses and mid-sized companies, announced that Annette Bechtold, the company's senior vice president of operations, has been named as the 2010 Emplo...
INDIA'S NEW ID SYSTEM TO ROPE IN BANKS FOR 'FINANCIAL INCLUSION'
The Unique Identity Authority of India (UIDAI) will rope in local banks to further financial inclusion in the country, bankers said last week after a meeting with UIDAI chairman and ex-Infosys chief, Nandan Nilekani. Nilekani made a present...
INDIA'S SUNDARAM FINANCE BUYS JV PARTNER'S US$32 MLN STAKE
Sundaram Finance (BSE:590071) last Friday said it has acquired its joint venture partner BNP Paribas Asset Management's 49 per cent stake for Rs 141.48 crore (US$32 million). The company has purchased the shares in Sundaram BNP Paribas Asse...
Shenzhen 2010 Fiscal Revenue Estimated to Top CNY100bn
Shenzhen, an economically developed city in southern China, would record CNY 101.6 billion in general budgeted revenue in 2010, gaining by 15.3 percent from last year or exceeding CNY 100 billion for the first time, the local finance commis...
Fosun Int'l Plans USD2bn Investment in Financial Sector
Fosun International Limited plans to spend maximum USD 2 billion in acquiring financial services companies like retail bank, life and health insurers because it takes financial business as strategic core business. A top executive of Fosun I...
NEW GERMAN-UZBEK JV PHARMA COMPANY LAUNCHED IN UZBEKISTAN
The Uzbek-German joint pharmaceutical company UzGerMed Pharm was launched in the Yukorichirchik district of Tashkent region. The company will produce three million standard units of drugs of different pharmacological groups, like Novocaine,...
Works Ministry Ordered to Refund Shs2.5 Billion
Parliament Public Accounts Committee has ordered officials in the Ministry of Works to refund more than Shs2.5 billion in roads cash that was irregularly paid to one of the contractors. This came after the Commissioner Internal Audit in the...
South Africa's Zuma says nationalization of mining sector "no cause for alarm"
Mining sector investors do not need to fear nationalisation, says African National Congress (ANC) president Jacob Zuma. The party is committed to its mixed-economy policy with government intervention, and there is nothing that investors mus...
N18 Billion Loss - CBN, NDIC Restoring Confidence in MFBS -Fortis
By revoking the operating licences of 224 Micro Finance Banks (MFBs), the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance are restoring confidence in MFBs in Nigeria, Executive Director, Fortis MFB, Mr Henry Nwawub has said....
CPIC Boosts Bond Investment in Infrastructure Projects
The assets management unit of China Pacific Insurance (Group) Co. (CPIC, 601601.SH) has just been approved to initiate a bond investment plan for the bridge project in Wuhan. As reports said, the fundraising of the bond investment program w...
Ping An Expected to Unveil a Fund Firm Soon
Ping An Insurance (Group) Company of China Limited (Ping An, 601318.SH, 2318.HK) is to unveil a fund firm as soon as possible. Once set up, the newborn firm will be the first insurer-sponsored fund company of China's Mainland. In this way,...
Families Gain Stability with Federal Money
The federal government's multibillion-dollar plan to prop up communities spoiled by foreclosed and abandoned homes is beginning to make a difference in real estate-ravaged Palm Beach County. After sputtering to a start 18 months ago, the Ne...
INDIAN POLICIES HELP OFFSET HOME STAGNATION OF S.AFRICA'S SANLAM
More than a million insurance policies signed in India in the past three years have helped South African insurance giant Sanlam offset the company's stagnation back home. Sanlam chief executive Johan van Zyl told the daily Business Report t...
INDIA'S IRDA EXAMINING REMOVAL OF CAP ON INFRASTRUCTURE BONDS
India's Insurance Regulatory and Development Authority (IRDA) on Wednesday said it is examining a proposal for removing cap on investment in infrastructure bonds of highly-rated companies by insurers, a move which would up fund flow in the...
3 suffer injuries after Heyworth grain elevator explodes
Three people suffered minor injuries Tuesday afternoon after an explosion at a grain elevator in Heyworth. Two contracted employees were transported to a Bloomington hospital, but Heyworth Fire Chief Dennis Powell said the injuries were not...
BANGLADESH PM SEEKS IMF AID FOR ECONOMIC DEVELOPMENT
Prime Minister Sheikh Hasina on Tuesday sought cooperation and assistance from the International Monetary Fund (IMF) to achieve the desired economic growth and development in Bangladesh. The PM made the appeal when the director for Asia and...
Ping An Bank, SDB Integration Plan Comes out
Both Shenzhen Development Bank (SDB, 000001.SZ) and Ping An Insurance (Group) Company of China Limited (Ping An, 601318.SH, 2318.HK) have passed the integration plan for Ping An Bank and SDB. As the parent company of both lenders, Shenzhen-...
Newbridge Capital Sold out H-shares of Ping An
Last week, Newbridge Capital sold HKD 9.08 billion worth of the Hong Kong dollar-denominated shares of dual listed Ping An Insurance (Group) Company of China Limited (Ping An, 601318.SH, 2318.HK). About 139 million H-shares of Ping An were...
JCR maintains Asahi Fire & Marine Insurance's BBB+ debt rating
2 September 2010 - JCR upheld on Thursday its BBB+ rating with a stable outlook on the senior debts of Japanese company Asahi Fire Marine Insurance Co Ltd. Although Asahi Fire Marine Insurance continues to generate results to a certain degr...
Sony Bank earns higher investment-grade rating from S&P on group aid
2 September 2010 - SP today lifted by one step its investment-grade ratings on Japanese lender Sony Bank citing stronger support from its parent, Sony Financial Holdings (TYO:8729). The bank now carries A/A-1 counterparty ratings with a sta...
38% select default option for pension scheme.
According to new research conducted by Baring Asset Management (Barings)[1], almost 17 million people in work in Britain (48%) have never reviewed their pension plans. Only one in five (21%) working adults in Britain has reviewed their pens...
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