A.M. Best Upgrades Issuer Credit Rating of Scotia Insurance (Barbados) Limited
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating of A (Excellent) of Scotia Insurance (Barbados) Limited (Scotia Re) (Barbados). The outlook for both ratings is stable. Scotia Re is primarily a life reinsurer that is ultimately owned by The Bank of Nova Scotia (Scotiabank). Scotia Re principally …
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China May Sustain 9% Growth as Investment Spending Moves Inland
China may maintain growth of about 9 percent this year, avoiding a “hard landing,” as spending on low-cost homes and developing inland provinces counters the impact of Europe’s debt crisis and monetary tightening.
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China extends crackdown on off-balance-sheet loans – sources
BEIJING (Reuters) – China’s bank regulator has cracked down on off-balance-sheet lending by the country’s banks, sources told Reuters on Monday, its latest step to prevent over-zealous and risky …
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Warehouse jumps in mixed NZX market
The Warehouse Group, New Zealand’s largest listed retailer, paced gainers in a mixed NZX stock market after a survey showed business confidence rebounded in the second quarter. PGG Wrightson, the rural services company, led decliners.
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Greek parliament passes 2nd austerity bill
Greek legislators have passed a bill to fast-track fresh austerity measures demanded by international creditors, following two days of rioting in Athens that left some 200 people injured.
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Fort Mill man pleads guilty in mortage fraud case
A Fort Mill man admitted to federal charges related to more than $2.1 million in fraudulent loans.
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Saab owner says $40 million property deal clinched
STOCKHOLM – Crisis-hit car maker Saab on Tuesday announced a $40 million deal to sell and lease back property as…
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