APN News

  • Tuesday, October, 2019| Today's Market | Current Time: 12:11:12
  • ADB, WB assesses Pak flood damage at 9.7 bn

    The floods, that swept across Pakistan since July, has caused an estimated USD 9.7 billion damage to infrastructure, farms, homes, as well as other direct and indirect losses, the Asian Development Bank (ADB) and the World Bank (WB) have said. The estimate was presented in the Damage and Needs Assessment (DNA), a survey conducted nationwide […]

    The BMB Group Confirms Its Offer to Acquire Kerzner International Holdings Limited

    London :The BMB Group (“BMB”) confirms that it has issued an unsolicited letter of interest to acquire Kerzner International Holdings for US$3.4 billion cash following speculation over the future of Kerzner International and its debt restructuring. BMB believes that the hospitality and real estate assets within Kerzner International have significant potential particularly in Asia. BMB […]

    Asia Microfinance Forum 2010 Attracts 450 Experts from 50 Countries

    Mumbai : The third Asia Microfinance Forum was inaugurated today in Sri Lanka with around 450 practitioners, policymakers, investors, academics and advocates from over 50 countries gathering in Colombo to deliberate on the central role of microfinance in achieving greater financial inclusion in Asia. Held from 12 to 15 October 2010, this event builds on […]

    A.M. Best Assigns Ratings to Investors Trust Assurance SPC

    Cayman Islands  :  Investors Trust Assurance SPC (“ITA”) has announced that A.M. Best Co. has assigned it a financial strength rating of B++ (Good) and issuer credit rating of “bbb+” with the assigned outlook being stable. According to A.M. Best, the ratings of ITA consider its profitable operations and strong risk-based capitalization measures. ITA has […]

    FM meets financial regulators to work out framework for FSDC

    Finance Minister Pranab Mukherjee met financial sector regulators, including RBI Governor D Subbarao and SEBI chairman C B Bhave, to work out a framework for the Financial Stability and Development Council (FSDC), a body which will deal with inter-regulatory issues. “They (Finance Ministry) have asked for reaction from all the regulators which we have given […]

    Vijaya Bank to Offer MoneyGram International Services

    Bengaluru: MoneyGram International, a leader in the global money transfer industry and Vijaya Bank announced today that the companies have signed a deal in which Vijaya Bank will offer MoneyGram’s money transfer services in 1173 of its branch locations. Vijaya Bank is signed under the Super Agent relationship of Thomas Cook, India Limited and UAE Exchange. […]

    Assocham calls for 50-100 new pvt banking licences

    Taking all stakeholders by surprise, industry body Assocham on Friday suggested that the Reserve Bank issue between 50-100 new private bank licences in the current round of allowing new entrants. “At least 50-100 licences should be given so that an explosion of competitive spirit happens, like it did with the insurance sector,” President of the […]

    Mukherjee to push quota reform at IMF, World Bank meeting

    Quota reform is one of the key issues that Finance Minister Pranab Mukherjee will raise at the annual meeting of the International Monetary Fund and the World Bank, which kicks off in Washington on Thursday. “Quota reforms in IMF is one of our basic object… we want at least 5 to 6 per cent quota […]

    ACE Group Reaches Agreement to Acquire Jerneh Insurance Berhad in Malaysia

    United States: The ACE Group of insurance and reinsurance companies today announced that it has signed a definitive agreement to acquire 100% of Jerneh Insurance Berhad, a general insurance company in Malaysia that is majority owned by Jerneh Asia Berhad, which is listed on Bursa Malaysia Securities Berhad. Established in 1970 and currently a top […]

    ICICI Bank Adopts Wincor Nixdorf’s ProView Solution for ATM Monitoring

    Mumbai: India’s largest private sector bank, ICICI has adopted an integrated ATM monitoring solution from Wincor Nixdorf. Wincor Nixdorf’s ProView software would remotely monitor the ICICI Bank ATM network spread across vast geography of the country. The bank has a large, geographically dispersed reliable self-service network comprising of ATMs and cash dispensers. Deploying tools capable […]