Rupees 1 sale

MANILA, Philippines  -DoubleDragon Corp., the real estate venture between tycoons Tony Tan Caktiong and Edgar “Injap” Sia II, said its overseas subsidiary raised an additional $20 million via a bond sale in Singapore. In a stock exchange filing on Thursday, the developer said DDPC Worldwide Pte. Ltd. raised the amount though a tap offering of its outstanding $160 -million 7.25 percent notes due 2025 that are listed on the Singapore Exchange Securities Trading Ltd. “Use of proceeds intended for the development and construction of Hotel101 overseas projects and for general corporate purposes,” DoubleDragon said. This was in line with the broader goal to export the Hotel10 in the International market. “DoubleDragon envisions its subsidiary Hotel101 Global Pte Ltd to reach 500,000 uniform Hotel101 room portfolio globally by 2040 and aims to make the homegrown Filipino Hotel101 brand become one of the top 5 global hotel groups operating in over 101 countries,” DoubleDragon said. … [Read more...] about DoubleDragon raises $20M via offshore bond sales

Share to Twitter Share to Linkedin Topline The Chinese government will oppose a possible plan by the U.S. to force a sale of TikTok, according to a statement Thursday, amid threats by federal regulators—and testimony by CEO Shou Zi Chew—to ban the social media app in the United States over national security and data privacy concerns. Key Facts Shu Jueting, a spokesperson for China’s Commerce Ministry, said Thursday that “China will firmly oppose” a forced sale of TikTok, noting a sale “would seriously damage” investors and investor confidence in the U.S. Though Jueting said China will oppose a forced sale, she did not clarify how the Chinese government would respond. Regulators from the Committee on Foreign Investment in the U.S. (CFIUS) previously said they would ban the app in the United States if its China-based owners did not sell their stake in the company. In a statement sent to Forbes, TikTok said that “divestment doesn’t … [Read more...] about China Opposes Forced TikTok Sale By U.S. Regulators

(CTN News) – Chinese government officials said Thursday that they would oppose U.S. plans to force TikTok’s Chinese owner to sell the short-video service, warning it could damage investor confidence in the company. It is believed that the company behind TikTok, ByteDance , may be sharing user browsing histories or other information with China’s government or may promote propaganda and disinformation on behalf of the country. According to the Wall Street Journal, should ByteDance fail to sell TikTok to a buyer, the federal government may consider banning the app. China will resolutely oppose the news if it is true, according to Shu Jueting, a spokeswoman for the Ministry of Commerce. As far as Beijing is concerned, she did not provide any indication. “Forced sales would adversely affect investors from multiple countries, including China,” Shu said. China and other countries are in conflict over TikTok, which is disrupting the processor chip, smartphone and other … [Read more...] about TikTok Sale Might Be Forced By US Plan, China Criticizes

As children, most of us were raised to not talk to strangers. The rule is meant to keep us safe, but carrying the idea into adulthood can cause us to miss out on enriching conversations. A new study published in the Psychological and Cognitive Sciences journal reveals that people actually enjoy talking to strangers more than they expect and the exchange can provide benefits. “We already know from previous research that people think they’ll enjoy spending their commute in silence, but it turns out that talking to a fellow passenger is more pleasant,” says Stav Atir, assistant professor of management at the Wisconsin School of Business at the University of Wisconsin-Madison and lead author of the study. “People underestimate the informational value of conversations. Yet, it’s an asset we are underutilizing.” Atir teamed up with University of Chicago’s Booth School of Business colleagues Nicholas Epley, who is a professor of behavioral science, and graduate student … [Read more...] about How (and why) you should get better at talking to strangers

A man watches stock quotations on an electronic board outside a brokerage, in Tokyo, Japan, March 20, 2023. REUTERS/Androniki Christodoulou SINGAPORE   – Asian shares spiked on Thursday and the dollar slid after the U.S. Federal Reserve hinted it could pause interest rate rises following turmoil in the banking sector, though it also reiterated its commitment to fighting sticky inflation. In a widely expected move, the Fed raised interest rates by 25 basis points, but it recast its outlook to a more cautious stance as a result of the banking stress. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 percent to touch a two-week high of 515.62. The index was on track for its best week in more than two months. Focus now shifts to the Bank of England, with investors expecting a quarter-percentage-point increase in its policy rate after a surprise jump in inflation squashed hopes of the central bank pausing its tightening campaign. Asia’s rally looked unlikely to … [Read more...] about Asian shares surge, dollar slips after Fed hints at rate pause

ROUND AND ROUND The Michelin-starred restaurant Costes moves into the famous Budapest Eye ferris wheel amid the continuing threat of the coronavirus pandemic. —REUTERS BUDAPEST—Hit by a plunge in turnover after foreign tourists vanished, Michelin-starred Hungarian restaurant Costes has staged a skyline dining event on the Budapest Eye ferris wheel to generate sales in a coronavirus-proof environment. Costes owner Karoly Gerendai said turnover at one of his reopened restaurants was down to about a tenth of prelockdown levels, forcing him to look for new ways to do business. “Now that there are not many people either on the wheel or in the restaurant because there are no tourists, the opportunity arose that we could do this,” he said of the event at the landmark attraction in central Budapest. “It is now especially important for people to be able to be separate from other guests to be safe, and the ferris wheel is ideal with its separate cabins.” As of Sunday, Hungary had … [Read more...] about Hungarian restaurant serves on ferris wheel

MANILA, Philippines  – Tycoon Edgar Saavedra’s Megawide Construction Corp. is rolling out a P1.5 -billion preferred share sale next week after pricing the initial dividend rate at 7.09 percent. In a stock exchange notice, the construction and engineering group said the offer period will run from March 28 to April 4 this year. The shares will be listed on April 17. Megawide is selling up to 15 million preferred shares at P100 per share. It tapped RCBC Capital Corp. as sole issue manager, lead underwriter and book runner for the offer. The company earlier said the offer proceeds would be used to fully redeem its series 2A preferred shares that were issued in 2020, according to the deal prospectus dated Jan. 5, 2023. These were being redeemed before the dividend rate increases due to a step-up feature that kicks in on May 27 this year. The company retains the option to redeem the series 5 shares in 2026 or three years from the listing date, an earlier prospectus showed. … [Read more...] about Megawide to start P1.5-B preferred share offering on March 28

MANILA, Philippines–Construction and engineering group Megawide Construction Corp. has obtained the approval of the Securities and Exchange Commission (SEC) to raise as much as P7 billion from the sale of preferred shares, boosting funds for its big-ticket infrastructure projects. Based on a document from the SEC, Megawide was allowed to register and offer to the public 40 million in nonvoting perpetual preferred shares with an option to upsize with additional 30 million shares. The preferred shares will be offered at a maximum price of P100 a share, allowing Megawide to raise at least P4 billion from this foray in the capital market. In case of strong demand, it can sell P3 billion in additional preferred shares. Megawide has mandated BDO Capital, BPI Capital, First Metro Investment Corp. and Standard Chartered Bank to arrange the offering and each of them has firmly committed to underwrite P1 billion. Proceeds from the offering will be used to fund various infrastructure … [Read more...] about Megawide secures SEC nod for P7B issuance

APR is largely buoyed by a wide range of brands. [APR] APR, a global beauty tech company, announced its plan to strengthen its business capabilities related to beauty devices while attracting pre-public offering worth 8 billion won ($6.1 million) in recognition of its enterprise value of 700 billion won. On March 13, APR posted its attraction to the Korea Financial Supervisory Services’ Data Analysis, Retrieval and Transfer System (DART). With its pre-IPO investment, NongHyup-Soo Investment Capital Innovation Growth M&A Investment Association, companies that have continued investment in innovative corporations including SJ Partners and Industrial Bank of Korea (IBK), have participated. APR holds a number of brands including medicube, AGE-R, Forment, Aprilskin, Nerdy and Glam.D Bio. Among the brands, AGE-R is receiving spotlight for rapid growth since being introduced in 2021. Its beauty devices including AGE-R Derma EMS, AGE-R Ussera, AGE-R Air, and AGE-R Booster-H posted … [Read more...] about APR to use beauty devices to take business to the next level

Share to Twitter Share to Linkedin Surbhi Sarna didn’t intend to become an entrepreneur when she faced a potential cancer diagnosis. As a high school student, she just hoped to survive. But Sarna’s cancer scare did change her life—and perhaps the lives of millions of others. After Sarna finished college, she started nVision Medical. She created a device she hoped would one day catch ovarian cancer in its early stages. She later sold the company to Boston Scientific for $275 million. That’s the short story. But, in the longer version, Sarna’s pitch was rejected by 50 investors. They were skeptical because Sarna didn’t have an MBA or a medical school degree. In other words, she didn’t check off all the right boxes. “I’ve been underrated and doubted my entire life,” Sarna told me during an interview about her new book, Without a Doubt . Sarna’s transformation from underrated to unbeatable offers valuable lessons for anyone with an idea to share or a … [Read more...] about How An Entrepreneur Learned The Art Of The Pitch And Sold Her Startup For $275M