SHARJAH, United Arab Emirates, March 25 (Bernama) -- Humanitarian aid worth US$ 15.8 million (AED 58 million) to 1,091,000 million refugees, internally displaced and acutely disadvantaged people in 12 conflict-laden nations worldwide has been offered by The Big Heart Foundation (TBHF), a leading international humanitarian organisation based in Sharjah, UAE.
Operating under the leadership of Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, UNHCR Eminent Advocate and TBHF Chairperson, the humanitarian non-profit operating out of Sharjah – the third largest emirate in United Arab Emirates (UAE) – has mobilised the funds to support and initiate 20 projects in collaboration with UNHCR, Doctors without Borders (Médecins Sans Frontières) in vital sectors of food security, healthcare and education.
KUCHING, Sarawak, March 25 (Bernama) -- In the Council’s efforts to help Malaysians to have basic financial literacy, and a switch on their attitudes and behaviours towards money management, Malaysian Financial Planning Council (MFPC) is organising a one day Financial Literacy Workshop at Islamic Information Centre, Kuching Sarawak on 30 March 2019 from 9.00am until 4.30pm. This is MFPC’s third public roadshow for the year 2019 after organising similar sessions in Johor Bharu and Negeri Sembilan earlier this year.
The core objective of the programme is to help Malaysians make better financial decisions, as data indicates Malaysians lacks successful money management knowledge. It is of great concern to the Council that 70% of Malaysians are below the global level of acceptable financial literacy rate and apart from these series of public programme, a somewhat similar programme is conducted by the Council at FELDA settlements and government agencies. Central to MFPC’s existence is collaboration, allowing the Council to map a way forward to fund these programmes. The Council is extremely pleased that this programme has the endorsement of the regulators and the support of Employees Provident Fund (EPF), Inland Revenue Board, Perbadanan Insurans Deposit Malaysia (PIDM), Federation of Investment Managers Malaysia (FIMM) and Permodalan Nasional Berhad (PNB).
African airspace now protected by comprehensive lightning and weather detection network
GERMANTOWN, Md. March 25 (Bernama) -- Earth Networks today announced it has completed a new aviation early weather warning system for The Agency for the Safety of Air Navigation in Africa and Madagascar (ASECNA). The announcement was made at the 6th annual InterMET Asia conference in Singapore.
Designed for air traffic management and airport operations professionals to issue alerts on severe weather and lightning threats that have the potential to affect air and land operations including ground crews, fueling, and aircraft, the newly operational global aviation early warning system includes:
SINGAPORE, March 25 (Bernama) -- PIVOT Fintech Pte. Ltd. (“PIVOT”), the digital wealth management technology services venture backed by Pintec Technology Holdings Ltd. (“PINTEC”; NASDAQ: PT) and FWD Group announced today that it has been granted a Capital Markets Services (“CMS”) license by the Monetary Authority of Singapore (MAS).
PIVOT’s CMS license, which comes after the recently published MAS Guidelines on the Provision of Digital Advisory Services on 8 October 2018, allows the company to offer AI-driven investment services directly to retail clients.
SINGAPORE, March 25 (Bernama) -- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of New Zealand Medical Professionals Limited (NZMPL) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect NZMPL’s balance sheet strength, which AM Best categorizes as adequate, as well as its strong operating performance, limited business profile and marginal enterprise risk management (ERM).
SINGAPORE, March 25 (Bernama) -- AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from C++ (Marginal) and the Long-Term Issuer Credit Rating to “b-” from “b+” of Capital General Insurance Company Limited (CGI) (Papua New Guinea). Additionally, AM Best has placed these Credit Ratings (ratings) under review with negative implications. CGI is a subsidiary of Capital Insurance Group Limited (CIGL), which also is domiciled in Papua New Guinea.
The rating downgrades reflect a deterioration in AM Best’s view of CGI’s balance sheet strength fundamentals following a control failure that is expected to lead to a significant deterioration in risk-adjusted capitalization for the year-end 2018, as measured by Best’s Capital Adequacy Ratio (BCAR). While the company has yet to finalize its year-end 2018 financial statements, AM Best expects reported shareholder’s equity to decline significantly when compared with year-end 2017 and prior expectations for 2018. The deterioration in the company’s capital position follows the identification and correction of historical mis-reporting of reinsurance transactions over a number of years. The control failure is expected to have led to the historical overstatement of the company’s balance sheet position, as well as earnings.
SINGAPORE, March 25 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Energas Insurance (L) Limited (Energas) (Malaysia). The outlook of these Credit Ratings (ratings) is stable. Energas is the sole captive insurer of Petroliam Nasional Berhad (Petronas), Malaysia’s national oil and gas company.
The ratings reflect Energas’ balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). In addition, the ratings factor a neutral impact from the company’s 100% ownership and integration with Petronas.