Adtn stock earnings

- A + A HONG KONG/JOHANNESBURG (June 27): Prosus NV is planning to sell more of its US$134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback programme, reversing a pledge to hold onto the full shareholding. Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5% and traded 1.6% lower at the close. “We will keep selling Tencent shares to buy back our own, it’s open-ended and an unlimited programme,” Prosus Chief Executive Officer Bob Van Dijk said in an interview. “It’s actually a small part of Tencent daily traded volumes — it should be maximum between 3% to 5%.” The move represents a change of heart by Dutch e-commerce giant Prosus — majority owned by South Africa’s Naspers Ltd — which said after its last sale in April 2021 it wouldn’t offload more shares for three years. The company, spun off from … [Read more...] about Tencent backer Prosus to cut US$134 bil stake to buy stock

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × State Bank of India (SBI) is likely to report strong performance for the quarter ended March 2022 when it will declare its results on May 11. Experts expect India’s largest banker to report a robust on-year growth of 50 percent for the quarter and expect its net interest income (NII) to increase 16 percent over the same period last year. According to a poll of four brokerages conducted by Moneycontrol , SBI is likely to post a net profit of Rs 10,075 crore for the quarter ended March 2022 on a NII of Rs 31,360 crore. The bank had registered a PAT of Rs 6,451 crore during the corresponding period last year with NII coming in at Rs 27,067 crore. The profit during the October – December period stood at Rs 8,432 crore when the bank had registered a NII of Rs 30,687 crore. Close … [Read more...] about State Bank of India Q4 Results Preview | Profit may surge 50% on healthy loan growth, asset quality

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, hasn't worked . Russia's government is making just as much money from energy exports as it was before the invasion. Meanwhile, inflation is surging globally, adding to political pressure on heads of state such as US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron. That's forcing leaders from top economies who have gathered in Germany for a G7 meeting to consider a new route: slapping price caps on Russian crude . "The goal here is to starve Russia, … [Read more...] about Price cap on Russian oil could shake up the market

- A + A KUALA LUMPUR (June 27): MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million in the second quarter ended April 30, 2022 (2QFY22), from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost of sales and expenses amid an increase in the number of outlets which also contributed to higher footfall. Quarterly revenue rose 35.74% to RM141.10 million, from RM103.94 million, the group said. Losses per share stood at 1.51 sen, from 1.5 sen. On a quarterly basis, the group’s net loss widened in 2QFY22, from a net loss of RM7.86 million in 1QFY22, while revenue improved by 1.2% from RM139.44 million. The weaker quarter-on-quarter performance was due to additional costs incurred in establishing and promoting the launch of 26 new CU stores in the quarter, it said. For the six-month period ended April 30 (1HFY22), the group’s net loss narrowed to RM18.08 million from a net loss of … [Read more...] about MyNews maintains expansion mode as it continues to bleed in 2QFY22