Moody’s downgrades Greece

first_imgMonday 7 March 2011 2:54 am Share whatsapp Moody’s downgrades Greece by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDefinitionThe Toughest Football Players in NFL History, RankedDefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmHeywise98% Of Adults Fail This QuizHeywiseIkaria BeautyThe Best Lifting Face Method At Home (Only 20 Seconds)Ikaria BeautyStudent SeaHusband Leaves Wife For Her Sister, Not Knowing She Won The LotteryStudent SeaMegazinosPrince Charles Has Made His Feelings Towards Meghan Crystal ClearMegazinosFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterArticles VallyBeautiful Women Of The World, Who Are They Exactly?Articles VallyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald John Dunne Show Comments ▼center_img Tags: NULL whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap Ratings agency Moody’s has downgraded Greece from Ba1 to B1.A statement from Moody’s said: “Moody’s Investors Service has today downgraded Greece’s government bond ratings to B1 from Ba1, and assigned a negative outlook to the rating.”It added that the country’s continuing difficulty on collecting revenue, allied with “ambitious” financial restructuring, plans led to the downgrade. Moody’s now has the lowest rating for Greece of all the major credit agencies and is the first to classify Greek government debt as ‘highly speculative’.The Greek finance ministry said the cut was completely unjustified.Greece signed in May a 110bn euro (£94.5bn) rescue package with the EU and IMF to avoid default, but many see the repayment terms as too onerous.Moody’s said that Greece continues to face difficulties with revenue collection and there was a risk that the country did not satisfy solvency criteria attached to EU/IMF support after 2013 which could lead to a debt restructuring.“The fiscal consolidation measures and structural reforms that are needed to stabilise the country’s debt metrics remain very ambitious and are subject to significant implementation risks,” the agency said in a statement.Moody’s said it was also concerned by the lack of certainty surrounding the nature of financial support that will be available to Greece after 2013, and its implications for bondholders.“The likelihood of a default or distressed exchange has risen since its last downgrade of the Greek government debt rating in June 2010,” the agency said. last_img read more

Uganda uncertainty mars Tullow results

first_img KCS-content More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org OIL explorer Tullow Oil posted a 361 per cent rise in pre-tax profit yesterday after a “transformational year”, though its shares fell 3.2 per cent due to concerns about its Ugandan project and some missed forecasts.The firm said its pre-tax profit for the year was $152m (£93.8m) for the year, short of consensus estimates of $192m, which was blamed on higher than expected write-offs and administrative costs. Surging oil prices caused a 19 per cent rise in revenue to $1.9bn, while production was broadly flat at 58,100 barrels of oil per day.Investors were hoping for an update on Tullow’s $10bn Ugandan joint venture with Total and CNOOC, which has been awaiting government approval for close to a year. Tullow did not give new details on the partnership, but chief executive Aidan Heavey later told reporters: “We’re at the stage now where all the main points have been agreed so we’re just finalising the documentation.”Heavey said in a statement that 2010 “was undoubtedly a transformational year for Tullow” and that production could rise to up to 92,000 barrels per day this year. The company said it expects its new Ghanaian wells to reach a rate of 120,000 barrels per day within five months, with a local stock listing also in the pipeline. The Jubilee field is the site of Ghana’s first commercial oil production and is 34.7 per cent owned by Tullow. But the firm said it has given up on two oil blocks in the Democratic Republic of Congo, which it lost last June when the government re-awarded the exploration rights. whatsapp Share Wednesday 9 March 2011 8:06 pm whatsapp Show Comments ▼ Tags: NULL Uganda uncertainty mars Tullow results last_img read more

Russia’s deputy premier to leave Rosneft chair

first_img Russia’s deputy premier to leave Rosneft chair Russian president Dmitry Medvedev has ordered top ministers to quit the boards of major state firms, launching a drive to separate politics from business less than a year before a presidential election.The most prominent target of the shakeout was Igor Sechin, a deputy premier with sweeping control over energy policy who as chairman of oil major Rosneft has masterminded a troubled strategic alliance with Britain’s BP.The removal of Sechin, prime minister Vladimir Putin’s most trusted ally, from the helm of Russia’s biggest oil company would stoke fears of a struggle for the Kremlin’s top job ahead of the March 2012 presidential election.Analysts warned Sechin’s removal would also weaken Rosneft’s position as Russia’s most powerful oil company.Sechin was the prime mover behind a deal struck by Rosneft and BP to explore for oil in the Arctic and conduct a $16 billion share swap that has fallen foul of a legal challenge by the tycoon partners in BP’s Russian venture TNK-BP.An arbitration panel will next week hear whether the share swap can go ahead independently of the offshore venture.“This is obviously negative for Rosneft as Sechin was seen as the biggest advocate of its interests – the shares are down – although the financial impact may be minimal,” said Karen Kostanian, head of research at Merrill Lynch in Moscow.The chairman of Gazprom, deputy premier Viktor Zubkov, was spared the axe, confirming the gas export monopoly’s privileged status as an instrument to project Russia’s energy might abroad. alison.lock whatsapp Thursday 31 March 2011 11:21 am whatsapp Share Show Comments ▼ Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

Britons put record £7bn into housing equity

first_img John Dunne Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Britons put record £7bn into housing equity whatsapp Tags: NULL Monday 4 April 2011 6:45 am Share Show Comments ▼ Britons put a record £7bn of equity into their homes in the fourth quarter of the year as record-low interest rates encouraged homeowners to pay down debt, Bank of England data has shown.Between October and December Britons invested the equivalent of 2.7 per cent of post-tax income, and the highest figure in absolute terms since records began in 1970.This compares with £6.58bn in the third quarter and £6.272bn in the first.Britons have injected equity into their homes for the past three years, reversing the trend of home equity withdrawal to fund other spending that has dominated the previous decade. last_img read more

National Grid hit by HSBC downgrade

first_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Share National Grid hit by HSBC downgrade Show Comments ▼center_img SHARES in National Grid shed 1.7 per cent yesterday as HSBC downgraded its rating on the power utility to “underweight” from “neutral”, on valuation grounds, underperforming a broadly weaker utilities sector.HSBC said in a note the networks regulation improvements are now priced in and failure to generate Ofgem savings could dilute long-term returns, while the benefit of the cold winter weather will only be temporary. National Grid’s shares have risen 6.6 per cent in 2011, compared to a 1.6 per cent rise on the FTSE 100, and are hovering near overbought territory on its relative strength index, HSBC said.National Grid trades on a forward price to earnings ratio of 12.4 times, roughly in line with its sector peers. KCS-content whatsapp Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tuesday 5 April 2011 7:27 pmlast_img read more

Intralot signs 10-year contract in Croatia

first_img Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Lottery Following a competitive process by the Croatian State Lottery “Hrvatska Lutrija,” for the selection of a strong long-term strategical partner, INTRALOT was awarded a 10-year contract for the implementation of the new integrated Lotos10 ecosystem with the Omni Channel capability, the deployment of innovative retail technology and the provision of operational support.All of the above will be customised to the specific needs and requirements of Hrvatska Lutrija and the Croatian gaming market, supporting the strategic and operational objectives for the extensive growth and future expansion of Hrvatska Lutrija in the verticals of numerical and instant games, betting and online casino.Hrvatska Lutrija is the state licensed lottery organisation, with a long and successful tradition of 45 years in organising games of chance in Croatia, offering full variety of gaming products, including the lotteries, instant lotteries, betting, casinos and slot clubs, participating also in the multijurisdictional lottery games, EuroJackpot. In 2017 Hrvatska Lutrija generated over €150m in stakes. The chosen model of cooperation is a gross gaming revenue share model where Croatian lottery and INTRALOT share investment cost, responsibility, risks, and ultimately profits according to a pre-negotiated split.Specifically, the agreement includes the deployment, customisation and integration of INTRALOT’s holistic and cross-channel lottery gaming platform based on the L10 Product, the next generation of LOTOS platform, along with the terminal software for the operation of its 3,000 terminals, the interactive gaming platform (based on the Player PULSE CRM-platform) supporting all Hrvatska Lutrija gaming verticals, the innovative cross-channel content management system (based on the CANVAS platform) and the Retailer Management System (based on the retailer PULSE CRM-platform), including full subset of the respective software components. INTRALOT will also provide the lottery with dedicated training and knowledge transfer, as well as related system operation, software maintenance and supporting activities.Mario Musa, president of the board of Hrvatska Lutrija, stated: “As a result of an extensive and long-lasting competitive process, we tasked INTRALOT to partner with Hrvatska Lutrija and invest on the transformation and innovation of our current operations by implementing its new systems and platforms based on LOTOS 10 ecosystem and advanced retail digital technology. This new partnership will fully cover all business requirements and operational procedures required for our business to grow significantly in the upcoming years. We are convinced that we have selected a strong partner who meets all our requirements for adapting to customer needs and legal changes much faster and at lower costs because of its new modular and micro-services-oriented architecture. We are recognised as the most responsible gaming organiser, which means that responsibility must be interwoven into all areas of business operations, to enable us to remain a credible source of knowledge sharing and support in raising the level of players’ competence to play games of chance in a responsible manner. We are looking forward to a smooth customisation and implementation process followed by 10 years of a strong and successful partnership with INTRALOT which will support our vision to strengthen Hrvatska Lutrija as the leading gaming operator in the Croatian market.”INTRALOT’s group chief commercial officer, Nikos Nikolakopoulos commented: “We are delighted that we have been selected to assist the Lottery to grow significantly their business across gaming verticals and in every channel. INTRALOT’s selection proves that we have met Hrvatska Lutrija strategic and operational objectives for their future transformation as well as our good track record and successful presence in Croatia. We are honoured by Hrvatska Lutrija’ trust and we are committed to investing the best technological and operational solutions in terms of innovation, digitalisation, security, reliability, products, cost-efficiency and support, coupled with a true partnership approach, which will provide considerable advantages to the stakeholders and customers of Hrvatska Lutrija.” 10th October 2018 | By Josephine Watson Following a competitive process by the Croatian State Lottery, INTRALOT was awarded a 10-year contractcenter_img Email Address Topics: Lottery Subscribe to the iGaming newsletter Intralot signs 10-year contract in Croatialast_img read more

LeoVegas challenges ‘completely wrong’ Italian ad rules

first_img LeoVegas challenges ‘completely wrong’ Italian ad rules Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Operator has filed a formal complaint with the European Commission Email Address Regions: Europe Southern Europe Italy Topics: Casino & games Finance Legal & compliance Sports betting Poker Casino & games LeoVegas has filed a formal complaint with the European Commission over recently-introduced anti-gambling advertising laws in Italy, branding the rules as “completely wrong”.Due to come into effect from January 1, the ‘Dignity Decree’ sets out a blanket ban on gambling advertisements across all media platforms in Italy.LeoVegas has previously stated its concerns over the regulations and has now taken this a step further with its complaint, accusing Italy’s Dignity Decree of breaching European Union (EU) law.Speaking to iGamingBusiness.com about the complaint, Niklas Lindahl (pictured), country manager for Italy at LeoVegas, said the firm is keen to work with the government to “adapt a responsible gaming approach” without harming the industry.In its complaint, the operator cited European Commission Recommendation (2014/478/EU), which states “gaming advertising is recognised by the European Commission as an important way for legitimate and authorised gaming companies to distinguish themselves from illegal operators”.LeoVegas, which is active in Italy via the www.LeoVegas.it domain, has also said that the impact of the total ban on the internal market is an infringement of articles both 54 and 56 of the Treaty on the Functioning of the European Union (TFEU).The complaint added: “The direct consequence of the total ban is that it restricts market access for providers of online gaming services that are established in another Member State. Because of the ban, those operators have no incentive any longer to enter the Italian gambling market as they will not be able to grow in the market due to the lack of marketing means.“It is without question that the objective of consumer protection, as mentioned in the Dignity Decree, could have been attained through the use of less restrictive measures.”Lindahl added to iGamingBusiness.com: “We agree gambling addiction must be fought with decisiveness but the method and tactics the Italian government have applied is completely wrong. They have not understand how well regulated the gaming industry is and well development the work with responsible gaming is within the licensed operators.“We have reached out our hands to the Italian government, offering our services, educating them on how we together work towards a common goal, responsible and sane gaming.“We continue that work and hope for the Italian government to open up for a broader discussion and understanding that we want to achieve the same thing – a sustainable market for the Italian customers.“Of course we do think that advertising must respect certain guidelines in order to avoid stimulating compulsive and excessive behaviour but a total ban is wrong for reasons as we have mentioned above in previous questions.”The government’s move has attracted widespread criticism, with LOGiCO, a trade body that represents the interests of online operators in Italy, and the European Gaming and Betting Association among those to warn of the consequences for the industry, jobs and related sectors, such as professional sports.Lindahl said that LeoVegas is hopeful that Brussels will agree with its complaint and force the Italian government into a rethink.“The best case scenario is of course that we get a revision of the ban with the current government or the next one,” he said. “Regardless, LeoVegas will continue to be a front figure and help Italy adapting a responsible gaming approach, something that we live and breathe every day.” Subscribe to the iGaming newsletter 11th October 2018 | By contenteditorlast_img read more

BetWarrior signs up for EveryMatrix’s CasinoEngine Direct

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Subscribe to the iGaming newsletter Casino & games Topics: Casino & games Tech & innovation 11th July 2019 | By contenteditorcenter_img Email Address BetWarrior, a new online gaming brand launched by PokerStars veterans Morten Tonnesen and José del Pino, has moved to expand its service offering by entering into a content partnership with EveryMatrix.Under the deal, EveryMatrix will use its CasinoEngine Direct solution to deliver a range of gaming content to BetWarriorCasinoEngine Direct enables operators and other platform suppliers to integrate and access CasinoEngine’s portfolio of 8,000 games from over 140 providers.BetWarrior is one of the newest brands in the igaming market, operating under the leadership of chief executive Tonnesen and chief operating officer del Pino, both of whom previously served on the PokerStars marketing team. The business has already selected Kambi to power its sportsbook offering.“We are committed to delivering a revolutionary, mobile-first experience, and the EveryMatrix team has been extremely easy to work with towards this goal,” Tonnesen said.“BetWarrior’s fully native mobile platform is a game-changer for the sector, and we look forward to building a long-lasting and mutually beneficial partnership with EveryMatrix.”Stian Hornsletten, co-founder of EveryMatrix and chief executive of CasinoEngine, added: “Working together with such a promising brand confirms once again that CasinoEngine is the go-to content provider for the industry.“Our solution meets their casino content needs and we are delighted to help them secure their rightful place as an innovative operator with a fresh and ingenious approach.” BetWarrior signs up for EveryMatrix’s CasinoEngine Direct BetWarrior, a new online gaming brand launched by PokerStars veterans Morten Tonnesen and José del Pino, has moved to expand its offering by entering into a content partnership with EveryMatrix.last_img read more

Fox Bet named official partner of Major League Baseball

first_img Fox Bet named official partner of Major League Baseball Subscribe to the iGaming newsletter Fox Bet, the sports betting joint venture between The Stars Group and broadcaster Fox Sports, has been named an authorised gaming partner of Major League Baseball (MLB) in the US. 16th October 2019 | By contenteditor Fox Bet, the sports betting joint venture between The Stars Group and broadcaster Fox Sports, has been named an authorised gaming partner of Major League Baseball (MLB) in the US.This sees Fox Bet gain the right to use the league’s official data feed and trademarks for both its real-money wagering app and free-to-play product Fox Sports Super 6.The pair will also collaborate on developing responsible gaming controls to protect players, as well as developing best-in-class practices to uphold the integrity of MLB games.The league’s executive vice president of gaming and new business Kenny Gersh said the agreement would ensure fans have a choice of partners in the market. It has already signed up the likes of DraftKings, FanDuel and MGM Resorts as authorised partners.Read the full story on iGB North America. Email Address Regions: US Topics: Marketing & affiliates Sports betting Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Marketing & affiliateslast_img read more

OPAP completes rollout of 25,000 VLTs in Greece

first_img OPAP completes rollout of 25,000 VLTs in Greece Regions: Europe Southern Europe Greece 15th January 2020 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Greek gaming operator OPAP completed the introduction of 25,000 video lottery terminal (VLT) machines in its home country in December 2019. Email Address Tags: Slot Machines Subscribe to the iGaming newsletter Greek gaming operator OPAP completed the introduction of 25,000 video lottery terminal (VLT) machines in its home country in December 2019.The rollout of machines supplied by Inspired and the Synot Group took just under three years, beginning on 11 January, 2017 after the European Union in 2015 approved the Greek government’s decision to award OPAP a VLT monopoly.VLTs were a significant source of revenue for OPAP in the first half of 2019,  with revenue rising 56.5% year-on-year from €89.4m to €139.9m. As a result, this boosted its share of group revenue from 12.1% to 17.9%, with OPAP operating 20,035 machines across 365 gaming halls and 1,952 of its stores.OPAP’s original exclusive deal was to introduce 35,000 VLTs, but the Greek parliament later passed an act to reduce this to 25,000.In September, the Greek Council of State, Greece’s supreme administrative court, revoked OPAP’s online sports betting license after Austrian operator Goalbet argued that OPAP had never been asked to meet the conditions necessary for the license.OPAP said it would appeal the decision and is “evaluating how to pursue the protection of its interests by all legal means,” although it also noted that online sports betting make sup less than 1% of its revenue.In October 2019, the Greek parliament passed a series of online gambling reforms. The reforms include a €3m licence fee and a 35% gross revenue tax for licensees as well as a €2 maximum stake for random number generator (RNG) games such as online slots.Earlier this month, the Greek Ministry of Finance submitted the regulations to the European Commission for approval. Topics: Casino & games Lottery Slots Casino & gameslast_img read more