Corporate disclosures

Bureau of Internal Revenue MANILA, Philippines — The implementation of a closure order against Megaworld Corp. has been suspended by the Bureau of Internal Revenue (BIR) after company representatives assured “full cooperation” with the taxman. In a media advisory on Tuesday afternoon signed by BIR National Capital Region Director Eduardo Pagulayan Jr., the agency said the closure order purportedly for implementation on Wednesday, March 18, was “held in abeyance.” “The activity tomorrow (May 18, 2022) is being held in abeyance until further notice. Representatives from Megaworld Corporation manifested their full cooperation with all the requirements of the Bureau of Internal Revenue,” BIR said. The clarification from the bureau came after a separate media advisory was released earlier, saying that a closure order would be served to Megaworld Corp. at its office in Bonifacio Global City, Taguig. The advisory said that Pagulayan, Deputy Commissioner Arnel Guballa, and other … [Read more...] about Closure order vs Megaworld Corp halted as firm vows cooperation with BIR – exec

India’s largest life cover provider Life Insurance Corporation of India (LIC) made a lacklustre debut on the bourses on May 17, with declining nearly 9.4 percent after its initial public offering was subscribed nearly three times last week. The stock opened at Rs 867.20, against an issue price of Rs 949 on the BSE and touched a high and a low of Rs 886.80 and Rs 860.10, respectively. At 10.05am, the scrip was trading at Rs 883.40 on BSE, down 7 percent from its issue price of Rs 949 a share. India's benchmark Sensex rose 0.62% to 53224 points. Corrections in the equity markets globally seem to have hit the listing for the biggest public issue in the history of the Indian capital market. The situation was worsened by mounting inflationary pressure, stricter lockdowns imposed in China to combat Covid outbreak, and an unabated war on Ukraine by Russian forces. After the debut in the market, LIC has become the fifth most-valued Indian listed firm with a market capital of Rs 5.71 … [Read more...] about LIC share lists with 9.4% discount, stock debuts on BSE at Rs 867

Share to Twitter Share to Linkedin Every market selloff presents opportunities. The iShares Emerging Markets ETF EEM is down -17% year-to-date. Even though Emerging Markets are notoriously volatile, this region is attractive due to its outsized growth potential. According to Lazard Asset Management , Emerging Market (EM) economies are responsible for about 60% of global growth, yet only represent about 13% of the MSCI All Country World Index ACWI . This gap won’t disappear overnight, but it bodes well for EM’s long-term investment prospects. EM has faster economic growth due to relatively attractive demographics and ongoing urbanization. If you’re a long-term investor, adding emerging markets exposure may also prove timely. Below is a chart of the MSCI Emerging Markets Index compared to the S&P 500 Index, expressed as a ratio. When the line is rising, it means Emerging Markets are outperforming US stocks. When the line is falling, it … [Read more...] about 3 Emerging Markets Stocks That Are Secular Winners On Sale

The Biden administration is expected to soon announce it would ease sanctions on Venezuelan oil amid the ongoing energy crisis, several media outlets reported. The federal government will ease “some” of the energy sanctions on Venezuela, two senior administration officials told CNN. In addition, U.S. oil corporation Chevron will be allowed to enter into negotiations with Venezuelan state-owned firm PDVSA over potential continued operations in the South American oil-rich nation. As part of the deal, Venezuelan dictator Nicolas Maduro agreed to open talks with opposition leader Juan Guaidó, Reuters reported . “[The U.S. agreed to lift some sanctions] on the basis of ambitious, concrete and irreversible outcomes that empower the Venezuelan people to determine the future in their country through democratic elections,” one official told CNN. (RELATED: Gas Prices Hit All-Time High As White House Turns To Dictators For Help) While the U.S. has pursued an aggressive sanctions … [Read more...] about Biden Turns To Venezuelan Dictator For Oil After Canceling US Lease Sales

Share to Twitter Share to Linkedin Fashion’s environmental impacts are often calculated (and communicated) through Life Cycle Assessments (LCAs). LCAs assess the impact of goods or services, typically from cradle (raw materials) to gate (when they are shipped to consumers); And they are commonly used to determine ‘how sustainable’ something is. This makes LCAs critical decision-making tools as the industry stares down a target of 45% emissions reductions by 2030 (amongst other environmental targets). Life Cycle Assessment is typically conducted using primary and/or secondary data according to International Standards Organisation guidelines (specifically, ISO 14040:2006 ). It is often arduous, expensive and highly subjective, providing high levels of specificity, but low levels of comparability with other materials, products or processes. However, in practice, that’s precisely what LCAs are regularly used for, leading to ‘apple and oranges’ comparisons and … [Read more...] about Environmental Impact Assessments Could Undermine Sustainable Fashion—Experts Explain Why.

America’s top financial regulator issued climate disclosure rules that are more burdensome for smaller companies than large companies, according to the agency’s own analysis. While the rules would cost large corporations $640,000 at first and $530,000 in subsequent years, they would cost smaller publicly-traded companies $490,000 initially and $420,000 in following years, the Securities and Exchange Commission (SEC) said in its proposal. The regulator’s analysis suggests that smaller companies would feel a relatively larger financial burden as a result of the proposed disclosure rules. “This climate rule making is unlike anything I’ve seen in my 25-year career in securities law, in the breadth and scope of the proposals,” David Lynn, a partner at the law firm Morrison & Foerster and a former SEC official, told The Wall Street Journal on Tuesday. “It is standing up a whole new disclosure regime.” The Democratic-majority SEC proposed a series of climate disclosure … [Read more...] about Big Business Wins Again: Biden Climate Rules Will Hurt Small Companies Most