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Standard Chartered PLC (37ZL.L)
- Reuters SG
CORRECTED-Hong Kong exchange carries out first carbon credit trades
The Hong Kong stock exchange has carried out the first batch of carbon credit trades on its new voluntary carbon market, joining a handful of Asian exchanges in tapping opportunities resulting from governments' push to achieve climate goals. The inaugural trades on Hong Kong Exchanges & Clearing's (HKEX) Core Climate platform announced on Thursday spanned carbon credits from more than 30 international projects involving around 20 participants, the exchange said. A carbon credit or offset permits the buyer to emit one metric tonne of carbon dioxide or equivalent greenhouse gas.
- Reuters SG
Affirma Capital seeks to sell stake in Jordan's Fine Hygienic Holding -sources
Singapore-based buyout firm Affirma Capital is seeking to exit its stake in Jordan-based Fine Hygienic Holding, one of the Middle East's largest makers of tissue and paper products, two sources told Reuters. Affirma is working with Moelis & Co to arrange the sale of its significant minority stake in the company, said the sources, who sought anonymity as the matter is not public. Affirma, Moelis and Fine declined to comment when contacted by Reuters on Tuesday.
- Reuters SG
UPDATE 4-Emerging markets-focused StanChart surprises with 40% profit jump, ups income goal
Standard Chartered's third-quarter profit surged 40% as higher interest rates boosted the emerging markets-focused bank's income and gave it ammunition to upgrade its revenue outlook despite a weakening global economy. StanChart raised its income growth forecast for this year to 13% from 10% previously and CEO Bill Winters said the bank was confident of delivering its 2024 financial targets, sending its Hong Kong-listed shares 5% higher in a firm market. StanChart's performance also contrasted with those of U.S. banks, which earlier this month reported weaker profits as they raised provisions against expected loan losses and saw market volatility choke off dealmaking.
