Tag Archives: Business Support Services (TRBC level 4)

Australian stocks extended gains as commodity-exposed companies shone | Instant News

April 7 (Reuters) – Australian stocks on Wednesday extended gains for a fourth session, driven by commodity-exposed stocks to strong crude oil and metals prices and as investors bet on improving prospects for a global economic recovery.

The S & P / ASX 200 index rose 0.5% to 6,920.2 points in early trading, hitting a new high since mid-February. Elsewhere in Asia, Nikkei futures were up 0.4%.

On Tuesday, the International Monetary Fund raised its forecast for global economic growth to 6% this year, a level not seen since the 1970s.

Strong economic data from China and the United States lifted oil prices by 1%, while a weaker dollar and lower US Treasury yields boosted bullion.

Meanwhile copper prices rose on supply concerns after a major Chilean producer closed its borders following a spike in coronavirus infections.

Strong commodities lifted sentiment despite the pullback on Wall Street overnight. All three major US stock indexes closed in the red, retreating from previous session record highs, while Treasury yields edged down.

The ASX 300 metals and mining index was up 0.67%, while the gold sub-index was up 1%, led by Resolute Mining Ltd. which was up 4.4%.

Tech shares rose 1.8%, led by EML Payments Ltd, up 10.7%, followed by NEXTDC Ltd which rose 3.6%.

In New Zealand, the benchmark S & P / NZX 50 index was up 0.68% to 12,484.3.

The highest percentage gainer in the benchmark index was Contact Energy Ltd, up 2.8%, followed by Pushpay Holdings Ltd and Air New Zealand Ltd which rose 2.5% and 1.9%, respectively.

Reporting by Shruti Sonal in Bengaluru, Editing by Sherry Jacob-Phillips


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Australian securities regulators search the offices of coal miners TerraCom | Instant News

MELBOURNE, March 29 (Reuters) – Australian securities regulators ransacked coal miners TerraCom Ltd on Monday with assistance from Queensland state police, according to a report in the Australian Financial Review.

The investigation came after regulators confirmed it was investigating the ALS testing laboratory, whose internal review last year found that about half of the certificates awarded for export coal samples over the past decade had been altered to improve demonstrated quality.

The laboratory review made no mention of associates, but began after the unfair dismissal of TerraCom – which bought the Blair Athol coal mine in 2017 from Rio Tinto – that the miner had worked with ALS to fabricate export documentation.

TerraCom, which sells coal to Japan, Korea and China, has denied the allegations that have arisen in the case. Deputy Chairman Craig Ransley told Reuters that TerraCom will continue to work with authorities on industry-wide investigations.

Australia is the world’s largest coal exporter and ALS is one of the largest coal testers. “I can confirm that a warrant was issued today on behalf of ASIC, with the assistance of the Queensland Police,” said a spokesman for the Australian Securities and Investments Commission (ASIC), on condition of anonymity TerraCom.

Queensland Police, asked if Blair Athol TerraCom’s operation had been searched, said ASIC was leading the matter and referred any questions to regulators.

Last week, local media reported that ASIC Commissioner Cathie Armor told a Senate forecast hearing that she was “well aware” of allegations that the ALS lab had improved coal quality results on export certificates.

Armor did not provide further information due to ASIC’s policy of not commenting on issues being investigated, according to a report by the Australian Associated Press. South Korean electricity provider South-East Power banned ALS from certifying its coal tender last year. (Reporting by Melanie Burton; Editing by Tom Hogue)


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PayPal is presenting a ‘buy now, pay later’ offer to crowded Australia | Instant News

SYDNEY (Reuters) – PayPal Holdings Inc will launch a “buy now, pay later” (BNPL) option in Australia this June, the US payments giant said on Wednesday, further pushing on Afterpay Ltd and others for shares in the fast-growing industry.

FILE PHOTOS: PayPal app logo visible on mobile in this illustrated photo October 16, 2017. REUTERS / Thomas White / Illustration / Photo File

So far PayPal’s new BNPL option has been rolled out in the United States and the UK where at the end of the December quarter it is said to have handled more than $ 750 million in transactions.

The US payments giant now plans to deliver interest-free “Pay in 4” services to its more than 9 million customers in Australia, where the fast-growing regulatory space is thinner than for other categories of consumer finance, while adoption is higher than for other markets.

The arrival of PayPal presents a serious new competitor to Afterpay and Zip Co Ltd, which leads the domestic market, as well as Klarna from Sweden which is supported by a small shareholding of the largest bank in Australia.

Andrew Toon, general manager of payments at PayPal Australia, told Reuters that the company had been “inundated” with requests from Australian merchants and businesses following the launch of the BNPL service overseas last year.

PayPal plans to take advantage of its long-term relationship with Australian merchants but is not looking to an exclusive arrangement that will strengthen other BNPL providers, Toon added.

The company’s initial announcement last year that it would join the BNPL sector raised concerns among investors and analysts that its deep network with retailers and lower merchant fees could eat into the company’s long-standing growth.

“The big question is whether (PayPal) is getting such additional sales in a potentially different customer base, or are they just taking a share of old shareholders,” said Steven Ng, co-founder and senior portfolio manager at Ophir Asset Management, which owns Stocks. afterpay.

Afterpay shares, which have been hit in recent weeks by the global tech selloff, were up more than 8%, while Zip was down 3.6% towards the end of the trading day.

“You shouldn’t underestimate the scale and power of the technology that Paypal has in competing with existing players,” said Ng, adding that the competition will see further innovation and BNPL take a bigger market share in the payments industry as a whole.

Reporting by Nikhil Kurian Nainan in Bengaluru and Byron Kaye in Sydney; Edited by Christopher Cushing


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Germany bans Salafi Muslim groups | Instant News

BERLIN, February 25 (Reuters) – German authorities carried out raids at several locations in Berlin and Brandenburg on Thursday after banning Berlin’s Salafi Muslim group, police said.

Berlin’s senate interior department on Thursday said it had banned the “jihad-salafi” association Jama’atu Berlin, also known as the Berlin Tauhid, and that police had carried out the raid, without providing further details.

The German newspaper Tagesspiegel said the group glorified the battle for “Islamic State” on the internet and called for the killing of Jews, adding that criminal proceedings were awaiting decisions against some of its members.

The newspaper added that the group had been in contact with Anis Amri, a Tunisian asylum seeker who failed with Islamic ties, who hijacked a truck and took it to a Christmas market in Berlin, killing 12 people in 2016.

Salafis – strict Sunni Muslims – include peaceful private individuals, activists seeking to implement Sharia law, and militants who advocate violence to establish a state they perceive to represent true Islam.

The number of Salafis has risen in Germany to an all-time high of 12,150 in 2019, Germany’s domestic intelligence said in its annual report last year, listing them among “Islamic extremists”.

It said the number of Salafis has more than tripled since 2011 and that Salafi groups in Germany are going through a consolidation stage, adding that followers remain a low profile in public. (Reporting by Riham Alkousaa; editing by Philippa Fletcher)


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