Time 100 most influential 2019 list

- A + A HONG KONG (Aug 15): China's state-owned enterprises (SOEs) that plan to delist from US stock exchanges slid on Monday, as investors expected more firms to follow suit amid an auditing spat between the two nations. PetroChina Co dropped 3.4% in Hong Kong, while China Life Insurance Co and China Petroleum & Chemical Corp lost more than 2% each. Sinopec Shanghai Petrochemical Co Ltd and Aluminum Corp of China Ltd also fell. The moves followed a drop in their American Depositary Receipts on Friday. The rush to leave the US market was seen as reflecting rising bilateral tension and a lack of progress in reaching agreement over giving American regulators better access to Chinese firms' financial data. While some analysts expected the move to have limited share-price impact given the stocks' modest US trading volume, market reaction suggests traders remain wary of the added uncertainty at a time when the economy is slowing. A bear case scenario would be … [Read more...] about China stocks with US listings slump as exit gathers pace

“Phuket rank 11th with about 11.9 million tourist arrivals this year, higher than last year’s 11.6 million arrivals making it Thailand’s most important economy outside Bangkok.” Bangkok has come in second place in the list of the world’s top cities for tourism. The list has been compiled by Euromonitor International . Their Top 100 City Destinations 2018 report has just been released. Once again, Hong Kong tops the poll with close to 30 million tourists expected to travel to the city before the end of this year, more than half of them from the Chinese mainland. According to the UK-based market research company, Bangkok holds on to its #2 ranking after Hong Kong, with close to 24 million visitors expected this year. Phuket rank 11th with about 11.9 million tourist arrivals this year, higher than last year’s 11.6 million arrivals making it Thailand’s most important economy outside Bangkok. The report said that global air traffic has been rising steadily for years and … [Read more...] about Bangkok #2, Phuket #11 – World’s most popular destinations

Representative image. Digital payments and financial services player PhonePe said on July 29 that it has completed the long pending acquisition of mobile platform OSLabs after reaching an amicable settlement with the company's majority shareholder Affle Global Pte Ltd. As part of the deal, PhonePe acquired Affle Global's entire stake at a premium. It, however, not reveal the final valuation at which the deal was reached. IndusOS' 100 employees, including founders Akash Dongre, Rakesh Deshmukh, and Sudhir Bangarambandi will be part of PhonePe, which now owns 100 percent stake in the company after the all-cash deal. The closure of the deal comes after a long-winding legal wrangle between PhonePe and IndusOS shareholders Affle and Ventureast Fund on the valuation of IndusOS. Walmart-owned PhonePe was close to acquiring IndusOS in May 2021, at a valuation of $60 million. However, Affle which is the largest shareholder in IndusOS, took objection to the deal and filed an … [Read more...] about PhonePe acquires Indus OS, says amicable settlement reached with Affle Global

File Image: An advertisement of Paytm, a digital wallet company, is pictured at a road side stall in Kolkata Digital payments and financial services company Paytm is likely to see a hit of Rs 400 crore on revenues and Rs 500 crore on the company's EBITDA if it makes rentals zero on all of its sound devices for merchants, Macquarie said in a report. Macquarie maintained its Underperform call on the stock with a target price of Rs 450. The report comes a day after Moneycontrol reported that Paytm's Soundbox, which announces receipt of payments for shopkeepers, is seeing tough competition from rival PhonePe. According to Macquarie, the impact amounts to 8 percent on revenues and 20 percent on EBITDA for the previous financial year of FY22. "Based on our channel checks, per device, fintech companies incur a maintenance cost of Rs 25 per unit as that is the SIM card costs that they incur. In addition, there will be some back-end costs. Hence the total costs incurred would … [Read more...] about Paytm’s revenue may see a Rs 400 crore hit if rentals for all Soundbox devices brought to zero: Macquarie

- A + A KUALA LUMPUR (Aug 15): The takeover offer for Cycle & Carriage Bintang Bhd (CCB) at RM2.70 per share is “not fair but reasonable”, independent adviser Kenanga Investment Bank Bhd (Kenanga IB) said in a circular to CCB’s shareholders on Monday (Aug 15). The RM2.70 offer price by Jardine Cycle & Carriage Ltd (Jardine CCL) — the offeror — represents a discount of RM1.26 or 31.76% to the estimated revised net asset value (RNAV) per CCB share of approximately RM3.96. “Therefore, we are of the opinion that the offer price is 'not fair' as the offer price is lower than the fair value per CCB share as indicated by the estimated RNAV. Holders would be forgoing the opportunity to fully realise their investments at the estimated RNAV per CCB share by accepting the offer at RM2.70 per offer share,” it said. Having said that, Kenanga IB highlighted that shareholders should take note that the estimated RNAV represents the fair value of the CCB group’s assets with … [Read more...] about Takeover offer for Cycle & Carriage Bintang ‘not fair but reasonable’, says independent adviser

Last Friday, the Turkish Ministry of Defense announced that it received its first shipment of the Russia’s S-400 missile defense system. The United States has long opposed Turkey acquiring the S-400 out of concerns that the move could allow Moscow gain technical information about the F-35, an advanced U.S. fighter jet which Turkey helps build. However, despite Washington’s threats of sanctions and expulsion from the F-35 program, Ankara has gone through with the deal. Over the past several years, Turkey has stood out among American NATO allies for its friendly relations with Russia. In addition to purchasing the S-400 missile system, Ankara has conducted joint military exercises with Moscow and expressed interest in buying other Russian weaponry. While many other NATO countries joined the United States in cutting their economic ties to Russia after its 2014 annexation of Crimea, Turkey expanded them. (RELATED: Russia Gives Missiles To Turkey Despite Months Of US Attempts To … [Read more...] about Turkey, A NATO Ally, Has Been Quietly Cozying Up To Russia

Share to Twitter Share to Linkedin Hyundai has found success in electric vehicles in recent years, which now make up 14 percent of the brand’s U.S. sales in a market where EV share is around 4 percent. But the automaker’s real success story is found in its SUV product line, which included just two models 5 years ago. Now the company offers seven SUVs, and those models deliver 77 percent of Hyundai’s U.S. sales volume (versus 46 percent in 2018). These models are the driving force behind Hyundai’s growing U.S. market share, which now sits at 5 percent and continues to rise. Hyundai’s expanded SUV strategy was well under way when the company introduced its three-row Palisade SUV in 2019 as a 2020 model. The Palisade was quickly embraced by consumers, with high satisfaction scores and 70% of Palisade sales ringing in above $45,000 — confirming most buyers are going for the higher trim, highly equipped models. Its 291 horsepower V6, refined driving dynamics, and … [Read more...] about Updated 2023 Hyundai Palisade Leads Hyundai’s SUV Strategy

The first week of July saw the Indian share markets ending on a strong note. This was due to crude prices softening which in turn helped ease the worries of inflation. Crude oil prices fell and saw a slippage of under US$ 100 per barrel as the fear of a potential global economic recession loomed, stirring concerns for oil demand. The banking stocks were another reason for the Benchmark indices ending on a positive note. The second week of July saw the Indian share markets lose their gains due to fears that the US Federal Reserve would step forward with more aggressive rate hikes due to the soaring inflation. Prospects of more rate hikes by the Reserve Bank of India were also projected due to strong domestic inflation. The third week of July saw Indian share markets ending positively. Although the week ended positively, some volatility was seen in the markets due to weak global cues. Furthermore, investor sentiments were lifted as FIIs seemed to return to the Indian markets. This was … [Read more...] about Most Bought smallcases for July 2022

Share to Twitter Share to Linkedin Harmful exposure to synthetic cannabinoids occurs less in those U.S. states where adult-use cannabis is legal, according to a new study that shows some potential public health benefits to legalizing adult-use cannabis. Researchers who published a study in the Journal of Clinical Toxicology last week found that adult-use cannabis legalization has benefits in reducing both motivations and harms associated with the use of synthetic cannabinoid products. They estimated that synthetic cannabinoids are used by 0.2–4% of the U.S. population, predominantly by young people. In order to analyze the impact of the use of synthetic cannabinoids on the U.S. population , researchers have associated 7,600 reports of exposure to synthetic cannabinoid poisoning taken from the National Poison Data System (NPDS) data from 2016 to 2019 with cannabis state cannabis laws. The findings show that exposure to synthetic cannabinoids … [Read more...] about Adult-Use Cannabis Legalization Reduces Use Of Synthetic Cannabinoids, New Study Finds

- A + A (Aug 15): Myanmar’s deposed leader Aung San Suu Kyi was sentenced to six more years in prison on Monday in a judgement that could further anger supporters of the 77-year-old Nobel peace prize laureate. A special court inside a prison compound in the capital Naypyidaw found her guilty of four corruption charges related to a charity named after her late mother, according to people familiar with the matter, who spoke on condition of anonymity because the proceedings aren’t public. It’s the fourth round of criminal verdicts against Suu Kyi since the military seized power in a 2021 coup and brings her total jail term to 17 years, extinguishing any chance of her staging a political comeback, while the junta remain in power. Mandalay Region High Court Judge Myint San ruled that Suu Kyi caused the State to lose more than 24.2 billion kyat (US$13 million) by leasing land in Naypyidaw to build the headquarters and related projects of Daw Khin Kyi Foundation, a … [Read more...] about Ex-Myanmar leader Suu Kyi said to get six more years in prison