Latest news with #TAP
News18
a day ago
- Business
- News18
NSE IPO: Exchange's Unlisted Shares Hit Record High Amid Settlement Talks With SEBI
Last Updated: According to reports, SEBI could now demand nearly twice the amount NSE paid in its previous record Rs 643 crore Trading Access Point (TAP) case settlement in 2023. NSE IPO: Shares of the National Stock Exchange (NSE) in the unlisted market have surged to a record high of Rs 2,300 after at least two media reports emerged that the exchange is working towards settling the long-standing co-location case with the Securities and Exchange Board of India (SEBI). It paves the doors for NSE to bring out the long-standing IPO. The development comes as both NSE and SEBI have reportedly restarted discussions to arrive at a consent settlement, marking a possible turning point in a regulatory saga that has been a major hurdle in NSE's IPO ambitions for years, according to MoneyControl report. The case, which is currently pending before the Supreme Court, had earlier seen SEBI challenge a Securities Appellate Tribunal (SAT) ruling that diluted penalties imposed on NSE in 2019. Earlier, The National Stock Exchange (NSE) had clarified that it has not approached the Ministry of Finance regarding its long-pending Initial Public Offering (IPO), contrary to a recent media report. NSE stated that it has not made 'any such representation to the Union Government in the last 30 months." There has been no communication between NSE and the Ministry of Finance on this issue. Krishna Patwari, Founder and Managing Director of Wealth Wisdom India Pvt Ltd, said SEBI's move signals a shift in regulatory tone and has boosted investor sentiment around the NSE's public listing. NSE's share price in the unlisted market has jumped to Rs 2,300, pushing its market cap to around Rs 5.69 lakh crore—an all-time high on May 28th, said Patwari. 'SEBI's willingness to settle long-standing regulatory issues with NSE is a major step forward," Patwari said. He added that the exchange's agreement to pay a significant sum shows its commitment to resolving legacy matters: 'The change in SEBI's stance under the new Chairman indicates a more collaborative approach. Investor confidence has surged. The spike in unlisted share prices clearly shows the optimism around NSE's IPO finally becoming a reality." What's the Co-Location Case? The co-location case revolves around allegations that certain brokers unfairly benefited by placing their servers closer to NSE's trading system within its co-location facility. This proximity allowed faster access to data and trades, providing an undue advantage over others and raising concerns of market manipulation and lack of fair access. The initial SEBI order in 2019 had imposed significant penalties, which NSE challenged before SAT. While SAT gave a relatively lenient ruling, SEBI appealed the decision in the Supreme Court, where the case remains pending. Sources told MoneyControl, SEBI could now demand nearly twice the amount NSE paid in its previous record Rs 643 crore Trading Access Point (TAP) case settlement in 2023. 'The discussions began around one and a half months ago. Currently, both sides are negotiating the amount that NSE should pay. Given the TAP case involved Rs 643 crore, SEBI may demand a significantly higher sum for the co-location matter," the source told MoneyControl. However, with a favourable SAT order already in hand, NSE may be reluctant to accept a very high settlement demand, setting the stage for tough negotiations between the two parties. First Published: June 01, 2025, 12:30 IST
Zawya
5 days ago
- Health
- Zawya
First-of-its-kind art and medicine project 'public health' launched by the American University of Beirut Medical Center
Beirut: The American University of Beirut Medical Center (AUBMC), in collaboration with TAP (Temporary Art Platform), launched 'public health,' an art and medicine project which is a first-of-its-kind initiative in Lebanon and the region that consists of contemporary art interventions for the Halim and Aida Daniel Academic and Clinical Center (ACC) at AUBMC. The launch was held in the presence of AUB President Fadlo R. Khuri, AUB Medical Center Director Joseph Otayek, Associate Vice President for Academic Centers, Development, and External Affairs Ali Taher, TAP Founder and Curator Amanda Abi Khalil, along with esteemed AUB and AUBMC faculty and leadership. 'Public health' is a series of site-specific commissions to eight contemporary artists who were invited in 2017 to consider and challenge the medical center setting as a non-place, defined by anthropologist Marc Augé as a space individuals pass through without forming lasting social connections or a sense of belonging. Initiated in 2017 and brought to life through the vision of Curator Amanda Abi Khalil and Associate Curator Nour Osseiran of TAP, the project unveiled six artworks by Tamara Al-Samerraei, Catherine Cattaruzza, Hatem Imam, and Lara Tabet, as well as artist duos Rayya and Zeina Badran, and Nadim Mishlawi and Sharif Sehnaoui. The works explored the unique sounds, bodie s, and stories that inhabit AUBMC's environment. Their site-specific works reframed the medical center's space as one of reflection, interaction, and emotional resonance. By embedding contemporary art within a clinical setting, 'public health' promotes medical-oriented research in the art field, fosters innovative collaborations between artists, curators, and healthcare professionals, and grants patients and visitors access to meaningful artistic engagement in an environment often associated with stress and routine. President Khuri said, 'Today, we are not just launching a collection of art. We are renewing a promise. A promise to build a healthcare system that is compassionate, patient-centered, engaging, and a genuinely human place to receive care. I want to thank everyone who helped bring this vision to life: our partners at TAP, the artists, our generous donors, and, of course, the leadership team at AUBMC—thank you for believing in this project from the start.' "This is not art as an ornament. This is art as infrastructure—as a vital, integrated part of how we imagine healing. Through intentional and inspired interventions—through art—we can reclaim hospitals as places of meaning, of comfort, of connection," Ali Taher added. 'By inviting artists to engage with the medical center as a site, not just a backdrop, 'public health' opens up a field of inquiry that is both urgent and under-explored. The project reveals how contemporary art can intervene meaningfully in the hospital environment: from participatory processes with staff and patients, to sensory and spatial interventions that challenge how we experience care,' explained Amanda Abi Khalil. This idea was instigated by Dina Zameli at the inauguration of President Fadlo R. Khuri and was generously supported by AUBMC, Hamzah Dayyeh, Nafiz Mustafa Jundi, Michel Khallouf, Elie Khalil Khoury, Henrietta Abela Nammour, Mohamad Ali and Dina Zameli, and Commercial Insurance. As a milestone in AUBMC's legacy, this project highlights the institution's commitment not only to medical excellence, but also to cultural innovation and community connection, reaffirming AUBMC's role as a pioneer in healthcare. About AUBMC Since 1902, AUBMC has been providing the highest standards of care to patients across Lebanon and the region. It is also the teaching hospital for the Faculty of Medicine at AUB (established in 1867), which has trained generations of medical students and physicians, and whose graduates can be found at leading institutions around the world. AUBMC is the only medical institution in the Middle East to have earned the five international accreditations of JCI, Magnet, CAP, ACGME-I and JACIE attesting to its superior standards in patient-centered care, nursing, pathology/laboratory services and graduate medical education. The Faculty of Medicine has graduated over 4,000 medical students and physicians; the Rafic Hariri School of Nursing provides excellent education for the nursing staff, and the Medical Center meets the healthcare needs of over 360,000 patient visits annually. For more information, please visit our website or contact: The AUB Office of Communications Email: praubmc@ Memac Ogilvy Public Relations at: Hadi Attar - 01-486065
Bloomberg
6 days ago
- Business
- Bloomberg
Portugal Says Carrier TAP Is Strategic as It Plans Privatization
Portugal said TAP SA is more important for the country's strategy than as a financial issue, as the government continues planning the privatization of the state-owned airline. 'TAP is much more a strategic matter than a financial matter,' Minister of the Presidency Antonio Leitao Amaro said in an interview in Lisbon on Tuesday. The privatization is an 'important' process and steps are ongoing, said Amaro, who coordinates cabinet meetings. He declined to comment on the timing of the sale.
Reuters
23-05-2025
- Business
- Reuters
Portugal's TAP books wider loss as strike, competition bite
LISBON, May 23 (Reuters) - Portuguese airline TAP's first-quarter net loss widened 20% from the same period a year ago as aggressive competition and a pilot strike at its low-cost carrier Portugalia squeezed revenue. The airline on Friday reported a loss of 108 million euros ($122.52 million) between January and March, a period that this year did not include the busy Easter week. The beginning of the year was "challenging", Chief Executive Luis Rodrigues said in a statement, estimating the impact of the 20-day strike at Portugalia and the late Easter holiday on the company's operating results at between 30 million euros and 40 million euros. Rodrigues said he is committed to transforming TAP into a "sustainable, profitable and attractive company" despite ongoing challenges from competitive pressure and macroeconomic uncertainty. Strong competition, mostly in Brazil, led to a 4.9% fall in passenger revenue per available seat-kilometre for the quarter. Overall revenue was down 4.5% year-on-year to 823 million euros. TAP has long been earmarked for privatisation, but the process has once again stalled as the centre-right minority government led by the Democratic Alliance coalition collapsed two months ago, remaining in only a caretaker role. The centre-right coalition won Sunday's national election and its leaders have said the new government will resume the sale of TAP, which had attracted interest from Lufthansa ( opens new tab, Air France-KLM ( opens new tab and British Airways owner IAG (ICAG.L), opens new tab. ($1 = 0.8815 euros)
Yahoo
22-05-2025
- Business
- Yahoo
Magnificent Seven Shareholder Meetings On Tap: Taking Stock of the Economy
Investors can pause to catch their breath after a wild last few months. Cooler heads appear to have prevailed in the trade war, the Q1 earnings season was better than expected, and (for now) economic data is hanging in there. According to Econoday, the last few US payrolls reports point to a slowing, but not halting, labor market. Warning! GuruFocus has detected 4 Warning Signs with TAP. The US unemployment rate has been steady around the 4.2% mark, while average hourly earnings have drifted down to 3.8% on a year-on-year basis. Moreover, CPI inflation data from February through April were largely below estimates. Now more than ever, though, both company-specific and economy-wide data are seen as less relevant. Last week's Retail Sales report, while light, didn't raise recession flags, and next week's April Personal Consumption Expenditure (PCE) Price Index print (which comes alongside the Personal Income and Outlays report) won't fully reflect the impact of tariffs. Mark your calendar for several macro updates, according to Wall Street Horizon's new Economic Calendar data. First, the minutes from the May 6-7 Fed meeting are set to be released on Wednesday, May 28th. Following that, the June FOMC gathering could be livelier as we'll get fresh forecasts from voting members via the Summary of Economic Projections (SEP) and the always-revealing Fed dot plot. Lastly, recession fears have ebbed in the last few months but be on guard for possible volatility around the second look at Q1 GDP, which hits the tape on Thursday, May 29. Yes, plenty of macro volatility catalysts are in the offing, but don't sleep on the long list of key shareholder meetings ahead. Specifically, several Magnificent Seven companies have Annual General Meetings (AGM) over the coming weeks. Beyond those glamour stocks, a handful of other large-cap bellwethers host events to update equity owners on company performance, strategic plans, and firm-specific and macro conditions they see. At the events, investors exercise their voting rights and engage with management, usually friendly but sometimes hostile. We detailed notable shareholder meeting events in April when volatility was near its zenith. Today, as panic has subsided and with the carrot of tax cuts dangling and hopes revived for deregulation, there could be a more upbeat tone. Here are the headline shareholder meetings scheduled: May 20: JPMorgan Chase & Company The Financials sector faces challenges and opportunities. On the positive side, last week's major IPO, eToro (ETOR), was quite encouraging for capital markets. Shares soared on their first day of trading, while the day before, fintech company Chime filed for a Nasdaq IPO.1 Moreover, KKR (KKR) received an upgrade from Morgan Stanley, and fellow capital markets company Carlyle (CG) got a boost from TD Cowen.2 And all of a sudden, M&A is kicking up in the shoe space (see: Skechers and Foot Locker). Good news for the JPM Investment Banking department. Unfortunately, last week's quarterly report on household debt from the Federal Reserve Bank of New York underscored a deterioration in consumer finances, including lower collective credit scores as household debt swells.3 JPM is arguably the most important global financial institution, headed by Jamie Dimon, dubbed America's banker. Investors should pay attention to what transpires today at JPM's AGM. May 21: Amazon Turning to the Mag 7, Amazon (NASDAQ:AMZN) had a load lifted off its back when the US and China chose to roll back most tariffs earlier this month. Shares soared by more than 8% on Monday last week, though they remain far below their $242 all-time high notched in February. The company also confirmed a small workforce reduction, adding to the list of recent layoff announcements. Still, its most recent earnings report was solida double beatwith Amazon Web Services (AWS) growing 17% YoY.4 Be on the lookout for any updates from CEO Andy Jassy this Wednesday. May 28: Meta Platforms Next week, before the PCE report and three-day weekend, Meta Platforms (NASDAQ:META) welcomes shareholders to its virtual event. It, too, beat Q1 sales and earnings estimates, helping to lift shares off their April 21 low under $500. META is the top-performing mega-cap tech stock year to date, with some arguing that it is executing the best on AI strategy. Despite fears of reduced ad spending amid all the macro uncertainty, it grew profits by 35% in the first quarter and issued solid guidance for the balance of the year. The kicker was a significant increase in its FY 2025 capex forecast.5 We'll see if executives, including CEO Mark Zuckerberg, discuss those plans in more detail next Wednesday. June 5: Netflix Netflix (NASDAQ:NFLX), while not officially a member of the Magnificent Seven, is among 2025's best stocks. Through last Wednesday, shares were up 29% on the year, ranking it 13th best among all S&P 500 companies YTD. The Movies and Entertainment industry company within the Communication Services sector ruffled some feathers a month ago when it was reported that a $1 trillion market cap was targeted by co-CEO Ted Sarandos.6 That doesn't seem so out of line today, with NFLX knocking on the door of a $500 million equity valuation. Last week, the firm said its ad tier now has 94 million monthly active users, up 34% just since November and higher by a whopping 135% from 12 months ago.7 Seen as a recession-resistant and tariff-buffered asset-light company, investors will surely be upbeat heading into the June AGM. June 6: Alphabet The Mag 7 is not a monolith. Alphabet (NASDAQ:GOOGL) has struggled in 2025, with the stock down by more than 10%, a strong Q1 report notwithstanding. Earlier this month, news broke that Apple's (AAPL) Eddy Cue testified that Safari searches were down for the first time in 22 years.8 That was bad news for Alphabet since its search engine is the default for Apple products. It will be critical to hear from CEO Sundar Pichai and other top executives on not just search, but also ongoing Justice Department probes and how the $2 trillion market cap company plans to make inroads into AI as the competition grows fiercer. June 25: NVIDIA Last but not least, NVIDIA (NASDAQ:NVDA) has been on a heater in the past several weeks. Through May 21, the stock was up by more than 50% from the April nadir. CEO Jensen Huang appears to be in President Trump's good graces as he joined the POTUS and other tech leaders in a pivotal business trip to the Middle East. To wit, BofA noted that NVIDIA was among the top beneficiaries from deals inked in Saudi Arabia last week.9 The bulls hope such capital investments and new orders will be the next leg of the AI boom. Expect to hear more about the broader outlook on June 25, and NVIDIA reports quarterly results on Wednesday night next week. The bulk of Q1 earnings season is in the books, and we have some stability on the trade front. That makes upcoming shareholder meetings all the more important as investors look ahead to the year's second half. There are individual company stories and macro trends that shape capital project plans and dictate shareholder-friendly initiatives like stock buybacks and dividends. Be sure to take detailed notes during the Mag 7 AGM season. 1 Stock trading app eToro pops 29% in Nasdaq debut after pricing IPO above expected range, CNBC, Samantha Subin, May 14, 2025, Morgan Stanley Upgrades KKR (KKR), Nasdaq, George Maybach, May 14, 2025, As student loan default rate spikes, some borrowers face grave consequences,' New York Fed says, CNBC, May 13, 2025, Announces First Quarter Results, Amazon Inc, May 1, 2025, Meta Reports First Quarter 2025 Results, Meta Inc., April 30, 2025, Netflix aims to be a trillion-dollar company, says co-CEO, TechCrunch, Lauren Forristal, April 23, 2025, Netflix says its ad tier now has 94 million monthly active users, CNBC, Sara Salinas, May 14, 2025, Searches on Safari dipped for the first time in 22 years, Apple's Eddy Cue admits, and it's because more people are using AI instead of Google, Fortune, Sasha Rogelberg, May 8, 2025, Nvidia, AMD 'top beneficiaries' from Saudi deals, but Broadcom and Marvell will benefit: BofA, Seeking Alpha, Chris Ciaccia, May 14, 2025, Copyright 2025 Wall Street Horizon, Inc. All rights reserved. Do not copy, distribute, sell or modify this document without Wall Street Horizon's prior written consent. This information is provided for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of the information contained in this publication, and we are not responsible for any errors or omissions in or your use of, or reliance on, the information. This publication is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The information provided is not an invitation to purchase securities, including any listed on Toronto Stock Exchange and/or TSX Venture Exchange. TMX Group and its affiliated companies do not endorse or recommend any securities referenced in this publication. This publication shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. TMX, the TMX design, TMX Group, Toronto Stock Exchange, TSX, and TSX Venture Exchange are the trademarks of TSX Inc. and are used under license. Wall Street Horizon is the trademark of Wall Street Horizon, Inc. All other trademarks used in this publication are the property of their respective owners. This article first appeared on GuruFocus. Error 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
