Latest news with #ENA
OC Media
a day ago
- Business
- OC Media
Russian–Armenian tycoon Karapetyan wins an arbitration case against Armenia
Sign in or or Become a member to unlock the audio version of this article Join the voices Aliyev wants to silence. For over eight years, OC Media has worked with fearless journalists from Azerbaijan — some of whom now face decades behind bars — to bring you the stories the regime is afraid will get out. Help us fuel Aliyev's fears — become an OC Media member today Become a member Russian–Armenian billionaire Samvel Karapetyan has won an urgent arbitration case against the Armenian government regarding the Electric Networks of Armenia (ENA), Karapetyan's defence council announced on Wednesday. Karapetyan's lawyers also noted that the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC Arbitration Institute) is subject to 'mandatory execution' by the Armenian authorities. 'The arbitration concluded that it was necessary to apply urgent measures of protection, since the actions of the Republic of Armenia 'raise serious doubts about the compliance of the Republic of Armenia with the Agreement on the Reciprocal Protection of Investments in force between Armenia and Cyprus' ', the statement read. It also 'obliged' Armenian authorities 'to refrain from applying the provisions of the recently adopted' legislative amendments that would allow the state to take over the ENA as well as 'from further steps to seize' the company, Karapetyan's lawyers stated. The Armenian Parliament adopted a bill that would virtually allow the state to take over the company on 3 July by enabling the state to 'intervene' and oversee its administrations should the company fail to meet its obligations. According to the Armenian Public TV, SCC Arbitration Institute 'has rejected the claim for the release' of Karapetyan. Earlier, on 30 June, Karaptyan's Tashir Group announced that the tycoon's family officially notified Armenian authorities about initiating an investment dispute. Advertisement The notice, according to their statement, was based on the 1995 Armenia–Cyprus investment promotion and protection agreement, which allows investors to turn to international arbitration if their rights are violated by the state. The announcement seeking to nationalise the ENA came shortly after Karapetyan's detention in June, with Prime Minister Nikol Pashinyan vowing to 'swiftly' act to do so. Meanwhile, he claimed the move was not related to Karapetyan's remarks in support of the church, which led to his detention in June and charges of making calls to overthrow the government. Instead, Pashinyan cited public discontent with the company's services and frequent power outages in Armenia, which Pashinyan alleged were intentionally used 'to generate internal public discontent in Armenia'. 'If the politicians fail, then we will participate in our own way in all of this', Karapetyan had said in an interview with before his arrest. Following his arrest, Armenia fined ENA ֏10 million ($26,000) 'for technical and commercial violations', the Public Services Regulatory Commission announced. In mid-July, Karapetyan was charged with additional money laundering charges through several companies, following raids on his companies in Armenia. 'Eliminating possible risks threatening state security' The Armenian government responded shortly after the statement from Karapetyan's lawyers. 'While respecting the security measures applied by foreign arbitration decisions, at the same time everyone is also obliged to be guided by the legislation of […] Armenia and international treaties that define the rules and procedures for the recognition and implementation of arbitration decisions', the Armenian government said in its response. The statement said it was released in response to unnamed media publications, with the Armenian government stating the scope of the issues examined in the urgent case 'is different from the objectives of the decision to appoint a temporary administrator and the scope of the actions to be taken by the latter'. The goal of the appointment of a temporary administrator, according to the statement, pursued 'preventing the risks of deliberately creating an energy crisis', 'ensuring public order, eliminating possible risks threatening state security', 'excluding the concealment of abuses in the ENA and preventing further abuses'. On 18 July, the Chair of the Public Services Regulatory Commission (PSRC), Mesrop Mesropyan, appointed Romanos Petrosyan as the temporary manager of the ENA, in an apparent overture to the state's takeover of the company. Petrosyan is a prominent member of the ruling Civil Contract party's board.
The Star
a day ago
- Entertainment
- The Star
Gripping new Korean drama 'The Defects' that tackles a modern-day illegal adoption ring makes its way to Tonton
"The Defects," a new ENA drama based on the Kakao Webtoon of the same name, which has already recorded over 51 million views, is an action thriller depicting the desperate survival and revenge of children who were abandoned by their adoptive parents and barely survived at the brink of death. The dark and gripping new Korean drama that tackles a modern-day illegal adoption ring started airing on Tuesday (July 21) on Tonton. Starring talented actors such as Yum Jung-ah, Won Jina, Choi Young Jun and Kim Jin Young (DEX), this series promises a storyline full of drama, conflict, and questions that challenge human instincts. The drama's premise, an illegal adoption cartel where adoptive parents can buy children and even request refunds if not satisfied, already sparked buzz for its provocative subject matter. For the record, more than 140,000 children had been sent overseas by Seoul following the devastating 1950-53 Korean War. The drama also comes in for fans when the South Korean government announced recently that the country is set to end the decades-old practice of outsourcing adoptions to private agencies, after a damaging investigation concluded the country's government-endorsed foreign adoption programme violated the fundamental human rights of adoptees. South Korea will now introduce a 'newly restructured public adoption system, under which the state and local governments take full responsibility for the entire adoption process', South Korea's Ministry of Health and Welfare said. As for "The Defects", the series is an action thriller drama that tells the story of a group of children who are illegally purchased by their adoptive parents, and then trapped in the dark world of human trafficking. Behind this world, there is Kim Se-Hee (played by Yum Jung-ah), a renowned doctor and high-profile hospital director who also heads an illegal adoption syndicate run by Jung Hyeon (played by Kim Jin Young). The organisation offers a "guaranteed return," a cruel system that can eliminate these children simply because they do not meet the expectations of their adoptive parents. Then comes Kim A-Hyeon (played by Won Jina), one of the survivors who managed to escape. Now, she rises to lead other children to reclaim their persecuted future and avenge the betrayal of the past that continues to haunt them. This brave story is lifted from a popular webtoon that once sparked a phenomenon, with the original work receiving international recognition through the "Best Creative Award" in the Webtoon category at the International Content Market SPP 2017, an achievement that proves the strength of the narrative and the message it carries. "The Defects" also marks Kim Jin Young, better known as DEX's return to acting, and this time in a suspenseful thriller full of dark secrets. The actor, who is also a former special forces soldier and reality show star, DEX continues to expand his artistic talents, and his appearance this time is certainly highly anticipated. In a recent interview in Seoul, DEX said: "I like to focus intensely when I work, and the appealing part about acting is being able to deeply explore and lead a character," he said. "I approached it with a sense of guilt, wondering if I would be a flaw [among the cast]. I pulled out everything I could to work on this project." "The Defect" is an eight-episode show and for more information on the show, fans can follow Tonton on Facebook, Twitter, TikTok and Instagram di @tontonmy.
Business Upturn
a day ago
- Business
- Business Upturn
BCL Industries secures new ENA supply order from Rajasthan State Ganganagar Sugar Mills
BCL Industries has received a fresh Letter of Acceptance (LOA) from Rajasthan State Ganganagar Sugar Mills Limited for the supply of 59 lakh litres of Extra Neutral Alcohol (ENA) from its Bathinda distillery in Punjab. The order will be fulfilled over the next six months, with an option for the buyer to increase the quantity by an additional 50%. In the exchange filings, BCL Industries shared, 'This is to inform you that the Company in its normal course of business had participated in a tender floated by M/s. Rajasthan State Ganganagar Sugar Mills Limited to supply Extra Neutral Alcohol (ENA) and received letter of acceptance (LOA) for supplying 59 Lac litres of ENA, from its Bathinda (Punjab) distillery, over a period of next 6 months with a possibility of supplying additional 50% of the said order at the option of the buyer.' This marks another milestone for BCL, which had earlier bagged an order for 60 lakh litres on November 26, 2024. Impressively, the company supplied around 69 lakh litres by June 30, 2025—exceeding expectations. The latest order reaffirms BCL Industries' strong execution capabilities and consistent performance in the ENA supply space. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Bloomberg
3 days ago
- Business
- Bloomberg
Blank Check Company TLGY Surges After Raising $360 Million for Altcoin Treasury
A blank check company, TLGY Acquisition Corp. announced that it is merging with a smaller firm in order to buy and hold an alternative cryptocurrency known as ENA, the latest company to follow the crypto treasury playbook created by Michael Saylor. The combined company, to be named StablecoinX Inc., has raised $360 million from investors to buy and hold ENA, the governance token of Ethena, a project that is focused on capitalizing on a crypto version of the popular hedge fund strategy known as the basis trade.
Yahoo
3 days ago
- Business
- Yahoo
Crypto Treasury Fever Spreads to Ethena as $360M SPAC Deal Targets ENA Accumulation
A new company called StablecoinX aims to be the first public firm to accumulate decentralized finance (DeFi) protocol Ethena's ENA (ENA) token after raising $360 million as the crypto treasury trend expands to altcoins. Nasdaq-listed shell company TLGY Acquisition Corp. and Ethena-focused validator operator startup SC Assets said Monday they plan to merge to form the new company, which will be listed under the "USDE" ticker. The transaction is expected to close in late 2025, according to a press release. StablecoinX plans to raise $360 million in a private investment in public equity (PIPE) round from a group of investors including Pantera Capital, Dragonfly, Galaxy Digital, Polychain and the companies said. Of the new funding, $100 million is provided in locked-up ENA tokens at a discount, while $260 million is in cash that can be used to purchase more locked ENA from an Ethena Foundation subsidiary. For its part, the foundation said the subsidiary is starting a token buyback program to acquire $260 million worth of ENA tokens directly from exchanges. ENA jumped to as high as $0.58 on the news before paring some of the advance. It is roughly 5% higher over the past 24 hours. The announcement comes as Wall Street's crypto treasury fever is heating up, spreading from bitcoin (BTC) to solana (SOL) and ether (ETH) as well as smaller altcoins. Ethena is a DeFI protocol known for its $6 billion "digital dollar," USDe, which generates yield by holding spot BTC, ETH and SOL and shorting an equivalent amount of derivatives harvesting the funding rate. The protocol's native token ENA serves as a governance token giving holders the right to have a say in decision-making. ENA has been one of the best-performing cryptocurrency over the past few days, rallying 65% over the past week. Apart of the fresh demand coming from the treasury strategy and token buyback, the protocol is also benefitting from renewed interest in USDe as yields increase due to rising perp funding in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
