Latest news with #SDR
Yahoo
2 days ago
- Business
- Yahoo
Nasdaq Stockholm has approved Baltic Horizon Fund application for delisting of SDRs
In connection with the planned termination of the Swedish Depositary Receipts ('SDR') of Baltic Horizon Fund, the management board of Northern Horizon Capital AS submitted a delisting application to Nasdaq Stockholm on 8 July 2025. Nasdaq Stockholm approved the application on 14 July 2025 with the last day of trading in SDRs on Nasdaq Stockholm being 8 October 2025. In accordance with the previously disclosed timeline for terminating its SDR programme the planned termination date for SDR programme is 14 October 2025. Considering the above, Baltic Horizon Fund reminds all investors holding the SDRs to decide whether to sell their SDRs or convert them into the fund units of Baltic Horizon Fund held in Nasdaq CSD. If the investor does not make a decision by 14 October 2025, the SDRs held will become the subject of a mandatory conversion or sale. In order to convert the SDRs into fund units, an investor holding the SDRs through a nominee account (the nominee-registered holder) should contact their bank, and an investor holding the SDRs directly (the direct-registered holder) should contact Nordic Issuing AB at info@ An investor webinar where fund manager Tarmo Karotam provided more information about the termination of the SDR program and the delisting from Nasdaq Stockholm was held on 14 April 2025. Webinar recording is available here. Presentation is available here. For additional information, please contact: Tarmo Karotam Baltic Horizon Fund manager E-mail The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on You can also follow Baltic Horizon Fund on and on LinkedIn, Facebook, X and YouTube.
Arab News
3 days ago
- Business
- Arab News
How SDRs help Saudi investors access global markets
The Saudi Exchange, or Tadawul, launched its first Saudi Depository Receipts, allowing international equities to be traded locally in riyals. SDRs are financial instruments that allow investors in Saudi Arabia to access shares of international companies without owning the actual shares. They are issued by a local financial institution or depositary bank in Saudi Arabia and represent a certain number of shares in a foreign company. Essentially, SDRs mirror the actual shares traded in the company's home market. Listing SDRs on Tadawul can attract Saudi-based investors who want exposure to international markets without directly investing in foreign exchanges. This broader investor base can boost the company's market visibility and increase trading volumes. These instruments are designed to facilitate cross-border investments, enabling Saudi-based investors to diversify their portfolios by investing in foreign companies while trading in their local currency and adhering to domestic regulatory frameworks. SDRs are traded on Tadawul just like regular shares, making them accessible to local investors without the need to navigate the complexities of foreign markets. SDRs offer several advantages that appeal to Saudi-based investors, including diversification benefits, easy access, tax advantages, liquidity, and transparency. The appeal of SDRs ultimately depends on factors such as the company's performance, geopolitical issues, and market conditions. SDRs are traded on Tadawul just like regular shares, making them accessible to local investors without the need to navigate the complexities of foreign markets. At the Saudi Capital Forum in Riyadh last February, where BMG Financial Group and Dalipal Holdings Limited were sponsors, we discussed with Tadawul officials how Dalipal, listed on the Hong Kong Stock Exchange, could benefit from the issuance of SDRs once launched. BMG and Dalipal have signed a memorandum of understanding to explore a dual listing and the issuance of SDRs. For Dalipal, issuing SDRs will align with Vision 2030, enhance their global brand recognition, mitigate geopolitical risks, and improve liquidity. It is also notable that Dalipal plans to expand its manufacturing facilities to produce advanced pipes for the oil, gas, and hydrogen sectors. They are already preparing their site at King Salman Energy Park in Dammam, Eastern Province. Their SDRs are a link with Saudi investors, fostering a mutually beneficial relationship that promotes cross-border investment and economic integration. The SDRs initiative marks the debut of depository receipts in the Saudi financial market. It is seen as a strategic step toward reinforcing Riyadh's position as a global financial centre, in line with the country's Financial Sector Development Program. • Basil M.K. Al-Ghalayini is chairman and CEO of BMG Financial Group.
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Business Standard
3 days ago
- Business
- Business Standard
Air India crash: Victims entitled to compensation, regardless of fault
While the initial findings of the Aircraft Accident Investigation Bureau (AAIB) into last month's Air India plane crash in Ahmedabad did not explicitly attribute the incident to pilot error, insurance industry experts have stated that, even if pilot error were the cause, it would not affect insurance claim payouts. Regardless of whether the cause is pilot error or any other form of systemic failure, the victims remain eligible for compensation, they said. The Air India Boeing 787-8 Dreamliner crashed in Ahmedabad a month ago, killing 260 people, including those on board the flight and those on the ground, with only a single survivor from the incident. 'The insurance amount has to be paid by the airline because even if it was pilot error that caused the accident, that is covered in the policy. The insurance amount has to be paid irrespective of the scenario. Also, some of the victims have approached a UK law firm to get better compensation,' an insurance broker told Business Standard. The only case where there could be a change in the insurance payout is if Air India's management were found to have been aware of the accident. Only if the accident was deliberate by the airline would there be any change in the payout. 'A pilot's mistake does not change anything. The insurance is still payable. Only if the management has deliberately crashed the aircraft or were aware of the pilot's condition, people might be eligible for higher compensation. But, it is too early to comment on it,' another insurance broker told Business Standard. Typically, an aviation claim includes three kinds of liabilities: damage to the aircraft; loss of lives on board the aircraft, including the crew members; and third-party liability for loss of lives caused by the crash. It also includes cargo liability. The third-party liability compensation for those who lost their lives is governed by the Montreal Convention, which applies to most international flights. Under the Convention, airlines are strictly liable for damages up to a certain threshold—currently around SDR 128,821, or approximately ₹1.50 crore per passenger—and can be held liable for higher amounts if negligence, including pilot error, is proven. Industry experts have estimated insurance claims to the tune of $475 million, with $125 million for the hull and the remaining $350 million for liability, which includes third-party liability as well. The major part of the claims will likely be borne by global reinsurers, as aviation policies are typically structured with primary insurers transferring a significant portion of the risk through reinsurance arrangements. State-owned GIC Re is responsible for about 5.15 per cent of the $475 million—4 per cent from obligatory cession and 1.15 per cent written through its London branch. It will make the provision in Q1, which will be less than ₹200 crore. Air India had insured its fleet for $20 billion with Indian insurers, including TATA AIG General Insurance, ICICI Lombard General Insurance, New India Insurance, and other state-owned general insurance companies. TATA AIG has provided coverage for 30-40 per cent of the risk and is the lead insurer among the primary insurers.
Indian Express
5 days ago
- Business
- Indian Express
Possibility of pilot error not to impact compensation for Air India Dreamliner crash victims
Compensation for the victims of the Air India 787-8 Dreamliner crash in Ahmedabad a month ago will not be affected by the possibility of pilot error, according to industry experts. Both the airline and the families of those who died in the crash are generally entitled to compensation, even when pilot error is involved. In fact, the compensation amount could potentially increase if negligence by maintenance staff or technicians is established, sources said. The exact compensation and legal proceedings vary depending on the jurisdiction and whether the flight was domestic or international. Airlines typically maintain liability insurance that covers passengers or their families in the event of injury or death, regardless of whether the cause is pilot error, mechanical failure, or other factors like pilot suicide. An insurance official explained that pilot error generally does not influence passenger compensation, which is largely governed by international or national aviation laws and the airline's own policies. Under the Montreal Convention, applicable to most international flights, airlines are strictly liable for damages up to a certain threshold –currently around SDR 128,821 or approximately Rs 1.50 crore per passenger — and can be held liable for higher amounts if negligence, including pilot error, is proven. Even if a crash happens due to suicide by the pilot, compensation won't be impacted. If an insurer can establish gross negligence or deliberate concealment by the airline such as knowingly permitting a mentally unfit pilot to operate a flight, it may challenge or reduce the payout to the airline. However, compensation to passengers or their families is generally safeguarded and not affected in such circumstances. Chetan Kashyap, Head- Aviation and Speciality Lines, Prudent Insurance Brokers, said, 'a Hull 'all-risks' policy is a policy that covers all risks with 'named' exclusions. Pilot error, if any, is not an exclusion to it and hence insurance payout remains unchanged. Even machinery failure or system failure is not excluded under the policy wherein the only difference is right of subrogation which gets passed on to insurers in such case against the OEM (original equipment manufacturer) but overall insurance payout remains unaffected. Also, in this case passengers or third-party claimants can also claim damages from OEM for failure of parts.' According to Hari Radhakrishnan, Expert with the Insurance Brokers Association of India (IBAI), Air India will get compensation for the loss of aircraft and passenger liability even if there was pilot error. 'Too early to say this, but even if it was pilot suicide and deliberately crashed, the insurance would pay. Insurers paid claims for Germanwings Flight 9525 crash in 2015 that killed 150 people, where the copilot locked out the captain from the cockpit and flew the plane into a mountain,' Radhakrishnan said. For domestic flights within India, compensation is governed by national regulations such as the Carriage by Air Act and guidelines set by the Directorate General of Civil Aviation (DGCA), which ensure that passengers or their families are compensated regardless of who is at fault. In cases where foreign nationals are among the deceased, families have the option to file claims in jurisdictions such as the country of the carrier, the place where the ticket was purchased, or the home country of the victim. Since nationals from Britain, Canada, and Portugal were among the victims, legal proceedings in international courts are likely. For Air India, both hull and liability insurance are expected to cover the damages. These policies typically include coverage for the loss of the aircraft (hull loss), passenger liability, and third-party liability. Pilot error is also covered under standard aviation insurance policies unless gross negligence or intentional misconduct is proven, which remains rare and difficult to establish. If the pilot is perished in the crash, his/ her family could still receive compensation from the airline's group life insurance and any personal accident insurance policies, unless there was a violation of policy terms such as flying under the influence, said a source. The Tata Group, which owns Air India, has announced an ex gratia compensation of Rs 1 crore to the next of kin of all passengers who died in the crash. Families of people who died on the ground will also be eligible for this Rs 1 crore compensation, and the company has stated it will cover medical expenses for those who were injured. According to insurance industry sources, the crash is expected to result in total claims of around Rs 4,000 crore (approximately $470 million), making it one of the most significant insurance events involving an aircraft accident. The aircraft hull alone is estimated to cost insurers and reinsurers about $80 million, with the engines valued at an additional $45 million. Liability claims related to passenger deaths are expected to reach approximately $350 million, though the final amount may vary depending on the number and nature of claims filed and the jurisdictions involved.
Android Authority
6 days ago
- Android Authority
This new Android Canary feature will let you stop HDR photos from blinding you at night
Mishaal Rahman / Android Authority TL;DR HDR content can really stand out on a screen of SDR images, especially in low-light environments . In order to limit distractions like that Google's been working on an new set of 'Enhanced HDR brightness' options. After first spotting them in Android 16 QPR1 Beta 1, they're now usable in the new Android Canary release. Google just opened the door on a brave new world of Android development, extending its existing program of Developer Previews and Beta releases to now offer a Canary track, bringing the most curious Android fans early access to its latest in-development features. Of course, we haven't wasted any time installing one of those Canary builds on our Pixel hardware, and are already crawling through to identify what's new. One of the first concrete changes we've spotted concerns a find we initially identified last month in the code for Android 16 QPR1 Beta 1. We're talking about that new 'Enhanced HDR brightness' settings option, which includes both a toggle for choosing whether or not you want to see HDR content at all (or if it should just be displayed at SDR levels), but also a slider for adjusting the intensity of the HDR effect. You might think that HDR is always better, but when you're viewing a single HDR pic amidst a screen of normal content, that one super-bright image can look a little odd. These controls let you avoid that situation entirely, or at least dial it back to a place where it feels a tad less jarring. While we were able to bring you an early look before, this wasn't yet user accessible in QPR1 Beta 1. But now we're in Canary territory, and not only are the settings present, but the feature appears to be operational, changing the HDR effect based on our choices. Everything looks just like we saw it before, except now it's ready for you to actually try out. Of course, running Canary means a much higher risk for running into phone-breaking bugs, so feel free to sit this one out and wait for the team at Android Authority to share the rest of what we find with you. Got a tip? Talk to us! Email our staff at Email our staff at news@ . You can stay anonymous or get credit for the info, it's your choice.
