Posts by Stephanie Irvin
Paytm is in talks with Zomato to sell movie, ticketing business
PAYTM is in talks to sell its movie and ticketing business to Zomato, as the Indian fintech pioneer seeks to unload non-core assets and revive sales hurt by a regulatory crackdown. The fintech firm is considering a potential transfer of its entertainment business but has yet to enter into any binding agreements, the company officially…
Read MoreSouth Korea’s Air Incheon is preferred bidder for Asiana cargo unit
South Korean budget airline Air Incheon is the preferred bidder to buy Asiana Airlines’ cargo business, Korean Air said on Monday, paving the way for a final go-ahead from the EU competition regulator of a Korean Air-Asiana merger. Korean Air, South Korea’s biggest carrier, is set to purchase nearly two-thirds of Asiana for about US$1.4…
Read MoreCrunch time for Great Eastern’s minorities
MINORITY shareholders of Great Eastern have some tough decisions to make in the days and weeks ahead. After the market closed on Friday (Jun 14), OCBC said its offer price of S$25.60 per share for Great Eastern is final, and that the closing date for the offer had been extended to Jul 12. The…
Read MoreBaltic Exchange Shipping Insights
Capesize The Capesize’s had a slow start due to holidays in Asia, leading to subdued activity. Early in the week, the Pacific was quieter, with limited trading, leading to a slight dip in the C5 index and the BCI 5TC. The South Brazil and West Africa to China markets initially saw positive sentiment with a…
Read MoreHyundai files for India IPO that could be country’s biggest
Hyundai Motor’s India unit sought regulatory approval on Saturday (Jun 15) for a stock market listing in Mumbai which could be the nation’s biggest and will see the South Korean parent sell a stake of up to 17.5 per cent in the company. The prospectus filed gave no details of the pricing of the initial…
Read MoreEurope: French stocks drag continent-wide shares lower on political turmoil
European shares dropped in a broad-based sell-off on Friday (Jun 14), marking a weekly loss amid political turmoil in France that has sent the French benchmark reeling. The pan-European Stoxx 600 closed 1 per cent lower, touching a more than five-week low and clocking its worst single-week drop of this year with a 2.4 per…
Read MoreFAA investigating counterfeit titanium used in some Boeing and Airbus jets, NYT reports
THE US Federal Aviation Administration (FAA) is investigating falsified documents that were used to verify the authenticity of titanium used in some recently manufactured Boeing and Airbus jets, the New York Times reported on Friday (Jun 14). The documents are also being investigated by Spirit AeroSystems, which supplies fuselages for Boeing and wings for Airbus,…
Read MoreOUE Reit completes S$250 million inaugural green notes issuance
OUE Real Estate Investment Trust (Reit) has completed the issuance of its S$250 million inaugural green notes at a 4.1 per cent fixed rate due in 2027. The Reit’s manager announced in a bourse filing on Friday (Jun 14) that the issuance attracted strong investor demand, with a final order book of S$425 million, indicating…
Read MoreSingapore stocks book net retail inflow of S$1.01 billion year to date, see significant bank outflows in Q2
SINGAPORE stocks booked net retail inflow of S$1.01 billion in the 2024 year to Jun 13, with significant bank outflows in the second quarter. The Singapore Exchange (SGX) said in a market update on Friday (Jun 14) that the first quarter accounted for the majority of this sum with S$959 million in net inflow, while…
Read MoreBarclays told to review leveraged finance as UK probes industry
UK regulators have ordered Barclays to review its leveraged finance business as concern grows inside the Bank of England over how lenders across the industry are measuring their exposure to the giants of private equity. The central bank’s Prudential Regulation Authority (PRA) has instructed Barclays to commission a section 166 review of the business, according…
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