A.M. BEST REVISES ISSUER CREDIT RATING OUTLOOK TO NEGATIVE FOR NATIONAL INSURANCE COMPANY LIMITED27/2/2017 SINGAPORE, Feb 27 (Bernama-BUSINESS WIRE) -- A.M. Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Good) and the Long-Term ICR of “bbb ” of National Insurance Company Limited (NIC) (India) (National Insurance). The outlook of the FSR remains stable.
The Long-Term ICR’s revised outlook is due to the downward trend in National Insurance’s profitability over the past 24 months. Due to increasing underwriting losses, the company’s pretax margin has continued to decline since 2015. As a result, growth in net premium has outpaced retained earnings and contributed to a decline in National Insurance’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). In addition, the company’s capital structure includes a high proportion of fair value reserves, which leaves its risk-adjusted capitalization vulnerable to capital market volatility. http://mrem.bernama.com/viewsm.php?idm=28499
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SINGAPORE, Feb 24 (Bernama-BUSINESS WIRE) -- Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCOM), has won “Excellence in Connectivity for Data Centers” award at the inaugural Datacloud Asia in Singapore. In addition, CEO Bill Barney was honored with “Data Center Industry Achievement Award” in recognition of his significant contribution to the Data Center Industry.
Following the success of the flagship Datacloud Global Congress in Europe, BroadGroup has extended the series to Asia. The inaugural Datacloud Asia Awards showcased innovation and bring recognition to new sectors in Data Center and Cloud. The winners were chosen by an independent panel of Judges from across Asia and the US, with the objective of recognizing excellence in data center and cloud services and operations. http://mrem.bernama.com/viewsm.php?idm=28494 KEN CORPORATION LTD. RENEWED AND EXPANDED WEBSITE TO COVER TOTAL REAL ESTATE NEEDS IN TOKYO23/2/2017 TOKYO, Feb 22 (Bernama-BUSINESS WIRE) -- Ken Corporation Ltd. of Tokyo, Japan, is pleased to announce the launch of the new design and contents of English website, www.kencorp.com. Adopted Responsive Web design, the new website is useful to search properties for users who use mobile devices for their home search; particularly new expatriates to Tokyo. Maximum of 28 large exterior-interior pictures, mostly photographed by exclusive photographers are set to residential properties.
Rental properties listed are priced from 200,000 JPY to over 2,000,000 JPY, targeted to expatriates and local wealthy. Choices are plentiful: large detached house, luxurious condo, high-rise apartment, and more. With growing interest in Tokyo real estate properties, this website is now ready with information about condominiums and house for sale, office rental spaces, and owners service, too. Locations of properties handled are concentrated in the central area of Tokyo and some in Yokohama where values are high and prosperous. http://mrem.bernama.com/viewsm.php?idm=28474 LONDON, Feb 23 (Bernama-BUSINESS WIRE) -- Global market research company Euromonitor International released today a new white paper, “Global Economies and Consumers in 2017”.
Euromonitor International analysts predict 2017 will be marked by slowing growth in consumer expenditure in developed markets. With many of these countries struggling to raise productivity, weighed down by debt and ageing population, stagnation represents a threat. The Eurozone will continue to see anaemic growth, with a slowdown in all major economies next year. http://mrem.bernama.com/viewsm.php?idm=28485 Bina Puri Property division teamed up with YYC Accounting Firm treats buyers, guests, family and friends
KUALA LUMPUR, Feb 21 (Bernama) -- Property developer, Bina Puri Norwest Sdn Bhd, a wholly-owned subsidiary of Bina Puri Holdings Bhd organised its CNY 2017 celebration on Saturday, 18th Feb 2017 which saw more than 200 guests attending the event at Laman Vila garden, a newly completed property development in Mont Kiara North, Kuala Lumpur. http://mrem.bernama.com/viewsm.php?idm=28470 SINGAPORE, Feb 21 (Bernama-BUSINESS WIRE) -- Kacific Broadband Satellites Pte Ltd (Kacific) today announced that it has ordered its Kacific-1 satellite from The Boeing Company (Boeing) based on the 702 satellite platform. This condominium satellite will be shared with JCSAT-18, ordered by SKY Perfect JSAT Corporation.
Kacific closed a US$147 million financing round in late 2016 with a mix of equity, debt and customer prepayments which covers the purchase of the satellite, launch service, ground systems and all other project costs. To secure this funding, Kacific has signed 15 managed bandwidth wholesale agreements in 14 different countries for a total value of US$434 million. http://mrem.bernama.com/viewsm.php?idm=28461 SINGAPORE, Feb 17 (Bernama-BUSINESS WIRE) -- A.M. Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" of TOWER Insurance Limited (TIL). A.M. Best also has placed under review with developing implications the Long-Term ICR of "bbb-" of TIL's ultimate parent, TOWER Limited (TL). Both companies are domiciled in New Zealand.
The Credit Rating (rating) actions follow the announcement that TL and Fairfax Financial Holdings Limited (Fairfax) have entered into an agreement under which Fairfax will acquire 100% of TL shares at NZD 1.17 per share, for an aggregate purchase price of NZD 197 million. http://mrem.bernama.com/viewsm.php?idm=28440 SOUTH SAN FRANCISCO, Calif., Feb 16 (Bernama-GLOBE NEWSWIRE) -- SAP SE (NYSE:SAP) today announced that City Football Group has implemented SAP® SuccessFactors® human capital management (HCM) solutions to help manage its growing international workforce. City Football Group, home to internationally renowned football clubs including Manchester City, New York City FC, Melbourne City FC and Yokohama F. Marinos, is working with SAP to increase operational efficiency and consistency across its global workforce to empower employees with self-service and collaboration tools to help enhance productivity and engagement.
"As an international sports brand with teams in multiple markets, ensuring that all of our employees feel invested in our overall success is a top priority for our organization," said Andy Young, CFO of City Football Group. "The implementation of SAP SuccessFactors solutions has helped us simplify and consolidate our HR processes. By giving employees the mobility and flexibility to access the system from anywhere and on any type of device, we can communicate and engage with our people all over the world in new and dynamic ways. We're committed to attracting, developing and retaining the best talent around the world, and having the right technology solutions is a critical part of achieving that." http://mrem.bernama.com/viewsm.php?idm=28435 KUALA LUMPUR, Feb 16 (Bernama) -- Barely a month ago, the Malaysian defence ministry launched the Cyber Defence Operations Centre (CDOC) to thwart the possibility of cyber-attacks, and conscious of the growing threat of cybersecurity. This move is in line with Akamai’s latest findings from Q4 2016 which saw a 140 percent Year over Year increase in Distributed Denial of Service (DDoS) attacks greater than 100Gbps.
The fourth quarter of 2016 saw the ‘Mirai botnet’ continue as one of the largest threats, but it is not the only Internet of Things (IoT) based botnet. At least two other major IoT based botnets were also in use. These were among Akamai Technologies’ latest findings that describes an overall daily attack trend and how four retail sub-verticals were each hit by different types of attacks timed during the holiday season. http://mrem.bernama.com/viewsm.php?idm=28437 SOUTH SAN FRANCISCO, Calif., Feb 16 (Bernama-GLOBE NEWSWIRE) -- SAP SE (NYSE:SAP) today announced that City Football Group has implemented SAP® SuccessFactors® human capital management (HCM) solutions to help manage its growing international workforce. City Football Group, home to internationally renowned football clubs including Manchester City, New York City FC, Melbourne City FC and Yokohama F. Marinos, is working with SAP to increase operational efficiency and consistency across its global workforce to empower employees with self-service and collaboration tools to help enhance productivity and engagement.
"As an international sports brand with teams in multiple markets, ensuring that all of our employees feel invested in our overall success is a top priority for our organization," said Andy Young, CFO of City Football Group. "The implementation of SAP SuccessFactors solutions has helped us simplify and consolidate our HR processes. By giving employees the mobility and flexibility to access the system from anywhere and on any type of device, we can communicate and engage with our people all over the world in new and dynamic ways. We're committed to attracting, developing and retaining the best talent around the world, and having the right technology solutions is a critical part of achieving that." http://mrem.bernama.com/viewsm.php?idm=28435 |
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