Latest news with #DBS
Mint
a day ago
- Business
- Mint
DBS Is Said to Shelve Plans for Asia Insurance Deal on Valuation
(Bloomberg) -- DBS Group Holdings Ltd. has shelved plans to form an insurance partnership in India and Taiwan after initial offers from prospective bidders didn't match value expectations, according to people familiar with the matter. The Singapore-based lender and its advisers have paused work on the transaction, the people said, asking not to be identified because the information is private. A bancassurance agreement for the two Asian markets, as well as certain products in Singapore, had attracted interest from other insurers and financial services firms, the people said. DBS could opt to revive considerations for potential deal in the future, the people said. A representative for DBS declined to comment. In September, Bloomberg News reported DBS was working with Goldman Sachs Group Inc. as it weighed forming insurance partnerships in India and Taiwan, and some products in Singapore, in a transaction that could have been valued at a few hundred million dollars. DBS already has a bancassurance partnership with Toronto-based Manulife Financial Corp. for markets including China, Hong Kong, Indonesia and Singapore. DBS has had a presence in India for about three decades, having opened its first office in Mumbai in 1994. In 2020, DBS Bank India Ltd. merged with Lakshmi Vilas Bank Ltd., and it now has about 500 branches in 19 states, according to a recent press release. It entered Taiwan even earlier, in 1983, and has more than 70 branches across the island, expanding organically and via acquisitions including Citigroup Inc.'s consumer banking assets in the country in 2023. More stories like this are available on
Business Insider
a day ago
- Business
- Business Insider
DBS Sticks to Its Buy Rating for VNET Group, Inc. Sponsored ADR (VNET)
DBS analyst maintained a Buy rating on VNET Group, Inc. Sponsored ADR (VNET – Research Report) today and set a price target of $9.00. The company's shares closed yesterday at $5.46. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The word on The Street in general, suggests a Strong Buy analyst consensus rating for VNET Group, Inc. Sponsored ADR with a $14.70 average price target, a 169.23% upside from current levels. In a report released on May 28, Jefferies also maintained a Buy rating on the stock with a $15.81 price target. VNET market cap is currently $1.62B and has a P/E ratio of 66.54.
Time of India
2 days ago
- 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)
Straits Times
2 days ago
- Business
- Straits Times
Keppel appoints ex-DBS chief Piyush Gupta as deputy board chairman from July 1
Former DBS Bank chief executive Piyush Gupta will also join the nominating, remuneration and board sustainability and safety committees. PHOTO: BUSINESS TIMES SINGAPORE – Keppel has appointed former DBS Bank chief executive Piyush Gupta as its deputy chairman and a non-executive independent director. The appointments will take effect from July 1, said the Singapore-based global asset manager and operator on May 29. Mr Gupta will also join the nominating, remuneration and board sustainability and safety committees. Mr Gupta, 65, retired from DBS in March 2025, concluding a 15-year tenure that saw the bank grow into South-east Asia's largest by assets, with record profits and a market value of $124 billion as at the end of 2024. He was credited with driving DBS' digital transformation, developing technology systems that enhanced much of the bank's operations, though the lender had its fair share of digital disruptions. Before joining DBS, he was Citi's CEO for South East Asia-Pacific for 27 years. Mr Gupta also holds other key appointments, including chairman of Singapore Management University's board of trustees and chairman of the Mandai Park Holdings. He is also a board member of the National Research Foundation , Singapore, and a member of the Ministry of Trade and Industry's Future Economy Advisory Panel. Keppel chairman Danny Teoh said on May 29 that Mr Gupta's leadership and experience in driving business and digital transformation will help Keppel in its journey towards becoming a leading global asset manager and operator. Mr Gupta noted that Keppel is at an important threshold, as it reinvents itself as a global asset manager with strong operating capabilities. Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
2 days ago
- Politics
- Yahoo
Parents fined nearly £1m over school absences
Derbyshire County Council has generated nearly £1m from fines issued for unauthorised school absences, a Freedom of Information Act request has revealed. The Local Democracy Reporting Service (LDRS) obtained figures which show the authority issued 20,487 penalties since 2021, totalling £961,320, over the three academic years since 2021-22. The county council said the fines had been issued at the request of head teachers and according to the law. However, mother-of-two Natalie, from Marehay near Ripley, has started a national campaign, called Fight School Fines, to get the law changed. She has started a petition, so far signed by 161,000 people, calling for parents to be entitled to 10 days of term-time leave without a fine. "A lot of these fines that are being issued and prosecutions for unauthorised absences aren't due to just going on holiday because they want to get it cheaper, which is the media narrative," Natalie said. "They are marking things down that should fall under exceptional circumstances. "For example, we are seeing loads of stories from parents where they have asked for authorised leave to visit family members who are poorly, or they have gone to a funeral overseas and they are not marking it as authorised, they are refusing it." The number of fines issued in Derbyshire in 2021 was 3,175 and that rose to 10,505 in 2023-24. Fine amounts stand at £160 per parent, per child, with this fee reducing to £80 if paid within 21 days. The council said 16,064 fines were for first-time offenders and 1,567 for second offences, with parents only able to accrue two penalties in a three-year rolling period before being prosecuted in court. Council figures show 1,016 Derbyshire parents have been prosecuted in the past three complete academic years , with six cases being withdrawn. Court fines do qualify as a criminal conviction and are attached to a criminal record, which would need to be added to a DBS check, the LDRS said. "I am not surprised to see it going up," Natalie said. "They say it will act as a deterrent, but clearly it is not doing because people still need to take leave during term-time. "Even if it is a cost thing, they are doing it to save money, we don't know the reason why they can't afford to go in the holidays. "It is not so black and white as people make out. Some people work seasonal jobs or run their own businesses, they can't just shut up shop. "It doesn't act as a deterrent. "It is criminalising parents. "Many parents don't know that what comes with that court fine is a criminal record. "Most of the time, parents are doing it because it is the best decision for them and their children. They are our children, they are not the state's. "Having a criminal record for this is one step too far. "I know families need to access term-time absence and that will never stop. "This isn't just about being on holiday and getting a cheaper holiday." The LDRS said it asked the county council if it felt the penalties were serving as a deterrent, if they could respond to the perception that the penalties were criminalising parents, and if parents were saying they were willing to accept the fines to gain term-time holiday savings. A council spokesperson said: "Headteachers ask us to issue the fines, so this is one for schools and not the council. "We respond to headteacher requests, we do not make the policies that schools make that lead to fines being issued. "The government sets the penalty fines amounts. "This is the law and not the council's decision," the spokesperson added. The Department for Education, responding to Natalie's petition in December, said: "We sympathise with parents who, for a variety of reasons, face barriers to securing their children's school attendance. "This government is taking a new approach to tackling absence based on responsibility, partnership and belonging." It said that involved working with schools and councils to remove barriers to attendance. The spokesperson said: "The government takes seriously its responsibility to ensure that schools are equipped to meet children's needs and help them succeed, but that is matched by parents' legal responsibility to send their children to school every day that they can. The department said it acknowledged some children had long-term physical or mental health conditions or special educational needs and disabilities (SEND) which affected attendance. The spokesperson added: "However, all of these children have the same need and right to a full-time education as any other pupil." Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@ or via WhatsApp on 0808 100 2210. 'Paying £240 holiday school fine was a no-brainer' School holiday fines at a record high Derbyshire County Council Department for Education Local Democracy Reporting Service
