Latest news with #ShivangiLahiri
Mint
3 days ago
- Business
- Mint
Star Entertainments Queens Wharf stake exit deal collapses
(Adds shares in paragraph 4, background in paragraphs 5-8, additional details in paragraph 10) June 30 (Reuters) - Australia's Star Entertainment said it had received a notice from Hong Kong's Far East Consortium International and Chow Tai Fook Enterprises to terminate the deal to sell its 50% stake in its Queen's Wharf project in Brisbane. The termination is set to take effect five business days from June 30, unless withdrawn earlier. The March 7 agreement outlined the casino operator's planned exit from its equity interest in Destination Brisbane Consortium (DBC), but the parties had not resolved outstanding key commercial issues of the deal as of this morning, Star said in a statement on Monday. Shares of Star were, however, up 1.7% at A$0.147, as of 0104 GMT. The casino and hotel complex was developed for A$3.6 billion ($2.35 billion), Star's website says. For years, Star and Blackstone-owned larger rival Crown Resorts have faced multiple inquiries into anti-money laundering rule violations and subsequent legal actions. Had the deal gone through, Far East Consortium and Chow Tai Fook Enterprises were set to become the sole owner of the Brisbane venture, which has luxury hotels and restaurants and other amenities. Star was, in turn, set to take on the investors' 66.67% stake in a Gold Coast project in Queensland. In a separate statement, property developer Far East Consortium said that Star must repay A$10 million within 30 days of termination, failing which it must transfer its 33.3% stake in Tower 1 (Dorsett) to the Hong Kong parties. "Despite the receipt of this notice, The Star remains willing to continue negotiations with the Joint Venture Partners to give effect to the DBC transaction," Star added. Star Entertainment did not immediately respond to a Reuters email seeking confirmation of the repayment details. ($1 = 1.5314 Australian dollars) (Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)
Mint
25-06-2025
- Business
- Mint
Australian shares flat as banks offset mining drag; inflation data eyed
June 25 (Reuters) - Australian shares were largely unchanged on Wednesday as a rise in banks offset a drag in miners and energy stocks, while local investors awaited key inflation data, due later in the day. The S&P/ASX 200 index was flat at 8,553.0 points by 0052 GMT. The benchmark ended 1% higher on Tuesday. Markets stayed cautious before the release of monthly inflation data for May in order to gauge the interest rate trajectory from the country's central bank. The Reserve Bank of Australia is set to announce the next cash rate decision on July 8, with traders pricing in an 89% probability of a 25-basis-point decrease in rates, according to the RBA Watch tool. Energy stocks fell for a second consecutive session, declining 0.4% as oil prices weakened while investors assessed the stability of a ceasefire between Iran and Israel. Woodside lost 1.1% and smaller peer Santos was flat. Miners declined 1.3% on easing iron ore prices amid strengthening supply outlook from Australia. Mining giants BHP and Rio Tinto fell 0.8% and 0.3%, respectively. Gold stocks slumped 2.3% as well on weaker bullion prices as the ceasefire announcement dented safe-haven demand. Gold miner Northern Star Resources emerged as the top loser on the benchmark, falling 2.7%. Financials rose 0.6%, offsetting declines on the benchmark, with the "Big Four" banks rising between 0.5% and 1.3%. Among company news, shares of Xero went on a trading halt as it said it would buy U.S.-headquartered fintech firm Melio for an upfront consideration of $2.5 billion. Shares of the country's bourse operator ASX rose 0.9% after it announced changes to its board committee structure to sharpen the focus on risk management. Meanwhile, New Zealand's benchmark S&P/NZX 50 index rose 0.1% to 12,484.46 points. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Alan Barona)
Time of India
29-05-2025
- Business
- Time of India
Keppel Appoints Former DBS CEO Piyush Gupta as New Deputy Chairman, ETHRWorld
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App Singapore-based manager and asset operator Keppel said on Thursday it has appointed ex-DBS Group CEO Piyush Gupta as its deputy chairman , effective July left DBS, Southeast Asia's largest lender by assets, in March this year after serving as CEO for around 15 joining DBS, he was Citi's CEO for its Southeast Asia-Pacific will also be appointed as a non-executive independent director of the board along with the deputy chairman role, in addition to other committee his appointment, Keppel's board will comprise nine directors, of whom seven are independent directors, the firm added in its statement.(Reporting by Shivangi Lahiri in Bengaluru; Editing by Tasim Zahid)
Yahoo
07-05-2025
- Automotive
- Yahoo
HK-listed Geely eyes privatisation of Chinese unit ZEEKR
(Reuters) -Hong Kong-listed Geely Automobile Holdings said on Wednesday it is looking to privatise its Chinese automaker unit ZEEKR, proposing to value the unit at US$2.566 per ZEEKR share or $25.66 per American Depository Share. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Mrigank Dhaniwala)
Reuters
07-05-2025
- Automotive
- Reuters
HK-listed Geely eyes privatisation of Chinese unit ZEEKR
Geely Auto logo is seen in this illustration taken January 16, 2024. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights , opens new tab May 7 (Reuters) - Hong Kong-listed Geely Automobile Holdings ( , opens new tab said on Wednesday it is looking to privatise its Chinese automaker unit ZEEKR (ZK.N) , opens new tab , proposing to value the unit at US$2.566 per ZEEKR share or $25.66 per American Depository Share. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. Reporting by Shivangi Lahiri in Bengaluru; Editing by Mrigank Dhaniwala Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
