Kilkenny left bank

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

Representative Image A two-paragraph notification from the RBI on June 20, which clarified that loading prepaid payment instruments (PPIs) such as wallets and prepaid cards with credit lines was not permissible, left the entire fintech ecosystem concerned about the legality of many current business models. In a panel discussion by Moneycontrol, fintech founders and experts said that companies would have to build business models within these regulations if they are to thrive in the fintech space. Srinath Sridharan, a member of the Fintech Association for Consumer Empowerment, said that the move by the RBI shouldn’t be viewed as negative towards fintech startups. Earlier, MoneyControl had reported that fintech startup founders had not taken kindly to the notification issued by the RBI. Being a part of a regulated space, fintech startups would have to build business models around the rules, Sridharan said. “If you want to play the big boy game, be ready for fit and … [Read more...] about Prepare for scrutiny if you want to play the big boys’ game: Experts on RBI’s recent fintech crackdown

Share to Twitter Share to Linkedin The flickering flame of Philadelphia’s playoff hopes may have gone out over the weekend. That’s because Bryce Harper, a two-time National League Most Valuable Player, suffered a thumb fracture when hit by a pitch from Blake Snell of the San Diego Padres. If surgery is needed, the high-priced slugger could be lost for the season – along with the team’s title chances. The Phillies, who have not reached postseason play since 2011, are running third in the National League East, a division dominated this season by the New York Mets. Even a 14-game winning streak by the second-place Atlanta Braves hasn’t been able to decapitate New York. After Philadelphia’s 4-2 win at San Diego Saturday night, the team had a 38-35 record, nine games behind the Mets and four behind the Braves. Harper, a 29-year-old left-handed hitter, had already been reduced from regular right-fielder to designated hitter because he suffered a … [Read more...] about Phillies Lose Two-Time MVP Bryce Harper With Fractured Thumb

Share to Twitter Share to Linkedin A girl rides up an escalator at Aeropostale's flagship store in Times Square in New York, U.S. ... [+] Photographer: Ramin Talaie/Bloomberg At first blush, the news of Simon Property Group and General Growth Properties stepping in to save failing retailer Aéropostale from certain bankruptcy seems surprising – but a deeper look reveals, it’s anything but. The deal, a reported $243 million, between Simon, GGP and Authentic Brands Group (operators of Juicy Couture among others) was initially slated to keep all 229 Aéropostale stores open at the two landlord’s properties. However, it appears the two largest mall operators in the country were able to use their relationships and influence to convince other Aéropostale landlords to provide rent concessions for an additional 171 stores – bringing the tally of locations that will remain open to 400. Are Landlords Now in the Business of Retailing? The common … [Read more...] about Mall Owners Play Offense In Aéropostale Deal

- A + A MUMBAI/BUENOS AIRES/LONDON (June 27): It only took 24 hours last month for Prime Minister Narendra Modi's government in India — the world's second-largest producer of wheat — to shelve its plans to "feed the world". In April, Modi had said publicly that the world's most populous democracy was ready to fill part of the gap left by Ukraine in global grains markets by increasing its wheat exports, following five consecutive record harvests. India traditionally exports only a modest amount of wheat, retaining most of its crop for domestic consumption. On May 12, India's Ministry of Commerce & Industry said it was preparing to send delegations to nine countries to export a record 10 million tonnes of wheat this fiscal year — sharply up the previous season. But a barrage of alarming data changed all that. First came a downward revision to India's wheat crop in early May as a sudden heatwave hammered yields. Then data on May 12 showed inflation in the nation … [Read more...] about Food export bans, from India to Argentina, risk fueling inflation

FILE PHOTO: A smoke rises over remains of a building destroyed by a military strike, as Russia’s attack on Ukraine continues, in Lysychansk, Luhansk region, Ukraine June 17, 2022. REUTERS/Oleksandr Ratushniak KYIV — Ukrainian President Volodymyr Zelensky on Monday urged Western leaders to supply anti-aircraft defense systems to his embattled nation as Russian forces assaulted Lysychansk, the last big city still held by Ukrainian troops in eastern Luhansk province. Addressing the Group of Seven summit in the Bavarian Alps via video link, Zelensky also asked for help to export grain from Ukraine and for more sanctions on Russia, a European official said. As the leaders met, Russian forces were bombarding Lysychansk, the Kremlin’s immediate battlefield target following the fall of neighboring Severodonetsk over the weekend. Luhansk governor Serhiy Gaidai said the city was suffering “catastrophic” damage from the shelling and he urged civilians to urgently evacuate. “The … [Read more...] about Ukraine pleads for air defense as Russia turns sights on Lysychansk

Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. Volatility, uncertainty, and unpredictability have been go-to words for writers and analysts tasked with writing about markets in the past few years. That’s not changed despite the market taking a bearish turn. Just a while ago, it seemed like the mother of all bloodbaths was just around the corner. No, what you saw was a mere prelude, they said. But the markets are on a different trip now. At 12.45 pm, the Sensex was up 1.2 percent above Friday’s close and 4 percent above its recent low made in mid-June. What is this, a bear market rally and how many dead cats will bounce before none are left? Can somebody call the bottom already? Close This time, the white flag waved by the bears has the “we … [Read more...] about Moneycontrol Pro Panorama | ​Can somebody call the bottom already?

Share to Twitter Share to Linkedin When the Minnesota Vikings decided that the Mike Zimmer era had to come to an end and a new coach was needed to reignite the team, few Vikings observers and fans could argue against the decision. Zimmer, perhaps the top defensive mind in the NFL when he was hired in 2014, had run his course. Zimmer’s abilities as a defensive innovator were not overstated, but he had carried a “woe is me” persona since Minnesota’s 10-9 wild-card loss to the Seattle Seahawks at frigid (-6 degrees Fahrenheit) TCF Bank Stadium following the 2015 regular season. The Vikings were poised to beat the Seahawks when Blair Walsh lined up for what should have been a 27-yard game-winning field goal with 26 seconds remaining, but the kicker gagged and the Vikings lost. Nobody was more stunned than Zimmer, and it seemed the cold slap of that loss never left the coach’s consciousness throughout his tenure. New head coach Kevin O’Connell has none of … [Read more...] about New Coaching Regime Expected To Bring Excitement Back To Minnesota Vikings Offense