Tag Archives: Year

Philippine equity capital raising might reach $4 bln next year -bourse

MANILA Dec 11 Philippine companies could improve equity capital raising on the local stock exchange to 200 billion pesos ($ four.two billion), the head of the country’s bourse stated, adding that eight to 10 firms were probably to pursue a listing.

Market place volatility has taken its toll on listings this year with home firm D.M. Wenceslao and Associates Inc delaying a $ 150-200 million IPO and homebuilder and contractor Datem Inc postponing an offering of up to $ 75 million.

Equity fundraising via the bourse, via either listings or secondary share offerings, has so far come to 184.6 billion pesos, exchange information showed.

A figure above 200 billion pesos subsequent year would mark the highest level considering that 2012 when a record 219 billion pesos was raised.

“Possibly about 200 billion pesos is a great target,” Philippine Stock Exchange CEO Hans Sicat told Reuters late on Thursday.

Investors are expected to be cautious till presidential and regional elections in Could are over and clear policies are revealed by the new administration.

Right after a sturdy six-year run, the Philippines benchmark index has fallen 6.7 % so far this year as foreign investors exit emerging markets ahead of an expected U.S. rate hike.

But the decline has not been as steep as some other Southeast Asian nations with Thailand’s principal index falling 13.7 percent and Indonesia’s benchmark index tumbling 15.two %. ($ 1 = 47.2250 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Edwina Gibbs)

Man Utd ‘better than last year’

Manager Louis van Gaal said “facts” proved his Manchester United side had been far better than last year, after they were knocked out of the Champions League.

United failed to qualify for the final 16 soon after a 3-two defeat at Wolfsburg.

Van Gaal stated reaching the group stage, progressing further in the Capital A single Cup and sitting fourth in the Premier League showed their improvement.

Nevertheless, he said: “I can not defend myself due to the fact we are out of the Champions League.”

Greater than final year?

United are fourth in the Premier League, having finished in the very same position in Van Gaal’s first season.

The former Netherlands coach, who replaced David Moyes in May 2014, led the Red Devils back into the Champions League following they failed to qualify for Europe beneath the Scot.

United have been eliminated by Championship side Middlesbrough in the League Cup fourth round this season, following an embarrassing 4- second-round defeat by MK Dons in the same competitors final season.

“When you see the information – we went further in the Capital One particular Cup, qualified for the Champions League group, we have played all these matches and are nevertheless in a very excellent position in the league,” he mentioned.

“The information say we are far better than last year.

“I’m also disappointed that we are out of the Champions League.”

‘We did not have an easy group’

Expectations had been high among United supporters that their team would comfortably progress from a group containing German runners-up Wolfsburg, Dutch champions PSV Eindhoven and Russian runners-up CSKA Moscow.

But Van Gaal rejected suggestions his side ought to have certified comfortably.

“This was a tight group so I am not agreeing with any opinion that this was an straightforward group,” he mentioned.

Final Group B table

P

W

D

L

Pts

Wolfsburg

six

4

2

12

PSV Eindhoven

six

3

1

2

10

Manchester United

6

two

2

two

eight

CSKA Moscow

6

1

1

four

4

Van Gaal perplexed by United defending

United had only conceded two targets in the previous nine matches just before their trip to Wolfsburg, but were defensively uncertain all through the Group B tie.

They conceded just 3 minutes following Anthony Martial’s opener, then allowed Wolfsburg to score the winner inside seconds of equalising for 2-two.

But Van Gaal’s side did offer a lot more attacking threat in Germany than they had in earlier weeks.

United have been booed off soon after Saturday’s – draw with West Ham at Old Trafford, the fifth time in nine matches they had failed to score.

“It was a crazy match,” stated Van Gaal, who also saw Jesse Lingard have a purpose disallowed ahead of half-time on Tuesday.

“We did not score several ambitions ahead of and in an away match you score two objectives – possibly three but one was cancelled out.

“But twice you give away a goal inside two minutes of scoring, that’s difficult to comprehend when you defend so properly generally.”

PSV draw cost us – Fellaini

United completed third in Group B possessing failed to win any of their away matches, losing at PSV Eindhoven and Wolfsburg, whilst drawing at CSKA Moscow.

But midfielder Marouane Fellaini believes it was United’s failure to beat PSV at Old Trafford, where the sides drew -, that proved costly.

“It is difficult for us. We are disappointed. We should win against PSV at residence,” stated the 28-year-old Belgium international.

“We were not fortunate against Wolfsburg. In the last ten minutes we played with ten guys [simply because Chris Smalling was injured]. It was much more challenging.

“But we have to forget this disappointment speedily. We have to recover quickly and concentrate on the next game.”

Matteo Darmian in pain

Matteo Darmian hobbled off for the duration of the first half of Tuesday’s game

Injuries pile up for United

United were with out seven senior players for the trip to Wolfsburg, with skipper Wayne Rooney the most notable absentee with an ankle injury.

Argentina international Marcos Rojo dislocated his shoulder final week, while fellow defenders Luke Shaw (leg) and Antonio Valencia (foot) have extended-term injuries.

England defender Phil Jones was absent with an ankle problem, whilst midfielders Ander Herrera and Morgan Schneiderlin are also sidelined.

Van Gaal handed a initial United commence to 22-year-old Uruguayan defender Guillermo Varela, and then brought on 18-year-old left-back Cameron Borthwick-Jackson when Matteo Darmian was injured for the duration of the 1st half.

The Dutchman’s issues had been compounded when stand-in skipper Smalling suffered a groin problem in the final 10 minutes.

Both Smalling and Darmian are “doubtful” for Saturday’s Premier League trip to Bournemouth, Van Gaal stated in his post-match news conference.

Pope to open Roman Catholic Holy Year under tight security

VATICAN CITY Pope Francis on Tuesday opens a Catholic Holy Year, or Jubilee, anticipated to draw millions to Rome beneath some of the strictest safety ever noticed at the Vatican following attacks in Paris and California.

For the duration of the celebrations, one of the most critical events in the 1.two billion-member Roman Catholic Church, faithful make pilgrimages to Rome and other religious sites about the globe.

This will be only the 29th Holy Year in the Church given that the tradition started a lot more than 700 years ago.

Holy Years typically take place each 25 years unless a pope decrees an extraordinary a single to bring interest to a specific want or subject, such as this one particular on the theme of mercy. The next Holy Year had been scheduled for 2025 ahead of Francis decided to call a unique 1.

Security had often been anticipated to be tight for the opening ceremony, which is estimated to draw up to 100,000 individuals in St. Peter’s Square, but it was ratcheted up right after the attacks by Islamist militants in Paris and California.

“The risk of terrorism will never be zero, we cannot offer absolute safety, but we are working to attain the level of security that folks rightly ask for,” Rome police chief Franco Gabrielli said.

The airspace over most of Rome will be closed for the day and city authorities have banned the transport of petrol, gas, weapons, explosives and fireworks.

A no-go zone was instituted for vehicles around the Vatican, rubbish bins were sealed or removed and individuals wishing to obtain access to St. Peters Square will have to pass by way of airport-style security screening. Usually this is employed only for these getting into St. Peter’s Basilica.

Thousands of soldiers from the army have been named in to augment normal police forces, generating the area around the Vatican occasionally look much more like one particular where a demonstration was anticipated as an alternative of a religious occasion.

“Regarding the safety, it produced me afraid. These who come here as pilgrims meet the soldiers wearing machine guns, it really is scary, you really feel threatened,” mentioned Daniela Santi, an Italian tourist in the square. “Last night the young children couldn’t sleep at all.”

Hotels association Federalberghi mentioned bookings had been down about 20 percent in the Rome area, with several cancellations, and shop owners complained of a fall in sales.

“The Paris attacks have caused a lot of uneasiness,” said Vincenzo Modica, who owns a souvenir shop close to the Vatican. “I hope that soon after Dec. eight this will improve, but I consider that the subsequent few months will be really tough.

Former Pope Benedict is expected to attend the opening ceremony, only one of a couple of times he has appeared in public since his shock resignation in 2013.

According to the Vatican website, a Holy Year must be a time of reconciliation with adversaries and an occasion to market solidarity, hope and justice in the globe.

Faithful who make pilgrimages to religious sites or do great works throughout a Holy Year can acquire indulgences, or the remission of punishment for sins, beneath specific circumstances.

(Reporting by Philip Pullella Editing by Leslie Adler)

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Bronze is women’s player of the year

Gorgeous Lucy Bronze objective provides England victory

UPDATE 1-Ackman’s Pershing Square off 15 percent for the year -supply

(Adds specifics on efficiency)

BOSTON Dec 1 Billionaire investor William Ackman’s Pershing Square Capital Management hedge fund lost 2 % in November and ended the first 11 months of the year with a 17 percent loss, a person familiar with the quantity stated.

But on Tuesday, a almost ten percent rise in the stock of Valeant Pharmaceuticals, Ackman’s greatest holding, helped pare the decline, leaving the flagship fund off 15 percent for the year, the individual stated.

Pershing Square, which invests for pension funds, endowments and wealthy investors, ended 2014 as a single of the industry’s prime- performing funds, with a 40 % achieve. This year’s sharp drop in Valeant and losses at Platform Specialty Goods are weighing on performance and have, for a time, ranked the firm amongst the industry’s biggest losers.

As an activist hedge fund, the $ 15 billion firm takes concentrated bets on a handful of companies, making sure that efficiency could be volatile, investors have said.

The average hedge fund has lost two.three percent this year.

(Reporting by Svea Herbst-Bayliss, editing by Richard Valdmanis and Dan Grebler)

UPDATE 1-China-backed AIIB to lend $ten-15 bln a year for first five years: president-designate

 

(Recasts, adds quotes, specifics)

 

By Michael Martina

 

BEIJING Dec 1 The president-elect of China’s new international improvement bank stated he expects the institution to lend $ 10 billion-$ 15 billion a year for the initial five or six years, and sought to allay issues that the lender will be a tool of Beijing.

 

Jin Liqun, who requires up the AIIB presidency right after its expected inauguration toward the end of December, stated on Tuesday that the bank will start off operations in the second quarter of 2016.

 

He mentioned the U.S. dollar would be the operating currency of the bank but the institution would think about financing requests in other currencies, like the yuan.

 

A successful Asian Infrastructure Investment Bank (AIIB) that sets itself apart from the Globe Bank would be a diplomatic triumph for China, which opposes a international monetary order it says is dominated by the United States and beneath-represented by creating nations.

 

Beijing had been frustrated by delayed reforms at the International Monetary Fund, though on Monday it admitted China’s yuan into its benchmark currency basket, a victory for China’s campaign for recognition as a global economic energy

 

Jin stated talks are ongoing with other institutions, including the Planet Bank and the Asian Improvement Bank, on co-financing, which would help AIIB “get off the ground quite soon”.

 

“In standard years, offered $ one hundred billion in registered capital, I believe every single year I count on to do most likely $ ten-$ 15 billion, for the first five or six years,” Jin told a European organization forum.

 

Jin did not specify priority projects or which nations would be the beneficiaries of initial loans, but mentioned about 30 countries are waiting in line for membership, which would improve the bank’s capital.

 

The AIIB, initial proposed by President Xi Jinping significantly less than two years ago, has turn into one particular of China’s most significant foreign policy successes. Regardless of the opposition of Washington, practically all key U.S. allies – Australia, Britain, German, Italy, the Philippines and South Korea – have joined.

 

The United States, which initially cautioned nations against joining the AIIB, had expressed concern more than how a lot influence China will wield in the new institution.

 

Jin said that China holds the de facto veto power in the bank based on a function of GDP, but that as extra nations joined the lender, its relative voting energy would drop.

 

He rejected suggestions the bank would be utilized to enhance the influence of Beijing and Chinese state-run organizations, saying other countries would not rush to join if that was the case.

 

“No, they will not join this bank if they are convinced that it is going to be the instrument of the Chinese government.” (Writing by Sui-Lee Wee Editing by Paul Tait & Shri Navaratnam)

 

SpiceJet says to order more than 150 planes in existing economic year

DUBAI Nov 29 Indian budget airline SpiceJet plans to order more than 150 planes in the current monetary year, the airline’s chairman stated on Sunday.

“We are in the method of placing a large aircraft order. The airline will order in excess of 150 planes – we hope to do that in this financial year,” Ajay Singh, SpiceJet’s chairman and managing director, told a news conference in Dubai. The monetary year will finish in March.

He said the airline was generating enough cash internally but had unused credit lines that could be utilised to spend for the aircraft. SpiceJet has no intention of diluting equity to pay for the planes, he said. (Reporting By Matt Smith Writing by Tom Arnold Editing by Andrew Torchia)

Irish taxman sees corporate tax bonanza this year and subsequent

DUBLIN Nov 25 Improved Irish exports ought to enhance corporate tax receipts to around two billion euros above target this year and, barring changed trading conditions, 2016 need to see a comparable surplus, the country’s tax collectors mentioned on Wednesday.

Driven by corporate receipts, Ireland has collected practically 8 % more tax than expected this year, assisting cut the government’s spending budget deficit but also prompting warnings against spending windfalls that could rapidly disappear.

“Corporation tax receipts for 2015 are presently around two billion euros ahead of target and the end of year position is anticipated to be relatively unchanged,” Niall Cody, chairman of the Office of the Revenue Commissioners, told Finance Minister Michael Noonan in a letter dated Nov. 20 and published on Wednesday.

He cited enhanced trading situations for exports across a quantity of businesses as a key aspect, and next year’s pattern could be the same.

“On the assumption that there are no further currency fluctuations or decline in the profitability of the bigger corporate groups …we count on that much of this surplus will reoccur subsequent year,” Cody mentioned.

The government had expected to take in 2.7 billion euros in corporate tax in the 1st ten months of the year but instead received four.7 billion.

A two billion euro complete-year surplus would return corporate tax receipts – 80 % of which are generated from Ireland’s huge cluster of foreign businesses – to the peak of 6.7 billion collected in 2006, ahead of Ireland’s monetary crisis.

A repeat in 2016 would make that the greatest year ever.

Noonan had been advised the surge was sustainable but he has stated he would be “extremely prudent” in forecasting. (Reporting by Padraic Halpin editing by John Stonestreet)

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A Year Soon after Democracy Protests, Hong Kong Voters Flock to Polls

HONG KONG — Voters right here went to the polls on Sunday, picking hundreds of neighborhood representatives in the very first election given that concern about China’s influence more than the electoral approach set off immense sit-in protests last year.

Turnout for the election of 363 district councilors, who serve four-year terms, was larger than in earlier contests in 2011 and 2007, with about 47 percent of eligible voters casting ballots, the government reported. An added 68 seats had been uncontested.

The final results had been mixed, as many participants in last year’s pro-democracy “Umbrella Movement” won seats in some areas, and supporters of closer ties with the central government in Beijing gained ground in others.

District-level lawmakers, who on typical serve constituencies of fewer than 20,000 folks, are much more focused on day-to-day livelihood troubles, like pushing for better bus service and securing funds for improvements and repairs to public facilities such as roads, parks and street indicators.

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But the tension more than last year’s protests, known as Occupy Central, which shut down some significant thoroughfares in Hong Kong for far more than two months, was evident in the election on Sunday as properly. In one particular densely populated area in Hong Kong’s New Territories characterized by towering apartment blocks, pro-Beijing and pro-democracy, or pan-democratic, constituencies have been divided by one particular street.

On 1 side, dominated by private apartment blocks constructed more than the Po Lam subway station, one particular voter, who would give only his final name, Law, stated he had cast his ballot for a pan-democratic candidate because he “hates the Communist Party.” Across the street, the leading two vote-getters in a district centered on a publicly funded housing project represented pro-Beijing parties. There, the incumbent, Alfred Au Ning-fat, was re-elected.

Subsequent year, voters will elect folks to Hong Kong’s 70-member Legislative Council, the city’s prime lawmaking physique. In June, the legislature rejected a voting program backed by the Beijing government that would have permitted the city’s more than 3 million eligible voters to directly elect Hong Kong’s leading official, the chief executive. That strategy, which permitted only candidates screened by a committee dominated by pro-Beijing loyalists to seem on the ballot, set off the Occupy Central movement final year.

In 2017, Hong Kong will hold elections for the chief executive. That contest will be decided by a 1,200-member unelected committee dominated by pro-Beijing groups like tycoons, farmers and fishermen, pro-Communist labor organizations and sector groups.

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