Woman loses RM166,000 to online investment syndicate KUALA BERANG: A factory worker suffered a loss of RM166,000 after being duped by a syndicate into a non-existent investment scheme online. Hulu Terengganu District Police Chief Supt Sharudin Abdul Wahab said that on Jan 15, the 43-year-old woman met a man on the social media site Litmatch. He said the suspect, who was his new acquaintance, had persuaded the victim to join the UOA Group Building Excellence investment scheme which allegedly could provide quick returns with high profit rates. “The victim, influenced by the suspect’s sweet promises, sold jewelry, heirlooms and withdrew savings to use as investment capital. “He […]

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HSBC sees up to $1.6 billion in loss on China bank stake reduction HONG KONG (Reuters) -HSBC said on Tuesday that its stake in Bank of Communications (BOCOM) will drop to about 16% from 19.03%, and it will book a loss of up to $1.6 billion as a result of the Chinese bank’s fundraising by private placement of shares. Four of China’s largest state-owned banks, including BOCOM, said in March they plan to raise a combined 520 billion yuan($71.5 billion) from investors, including the finance ministry, after Beijing pledged to help them support the economy. The fundraising announcement came after Chinese policymakers pledged to recapitalise major state banks to boost their ability to bolster the real economy. BOCOM at that time said it would sell shares to raise as much as 120 billion yuan. After the completion of the BOCOM capital raising, HSBC said it expects the bank’s stake to reduce by around three percentage points to 16%, resulting in a pre-tax loss in the range of $1.2 billion to $1.6 billion. The potential loss will be recognised in the Asia-focused lender’s income statement, subject to the timing of completion, foreign exchange changes and other factors, HSBC said in its quarterly profit report. HSBC said that the loss "would not be deductible for tax purposes" as its shareholding in BOCOM is being held for long-term investment purposes, and it will not have a material impact on capital ratios or dividend distribution capacity. In February last year, HSBC reported a shock $3 billion charge on its stake in BOCOM, the largest yet by an overseas lender, as bad loans mounted in the world’s second-largest economy amid a protracted property sector crisis. ($1 = 7.2737 Chinese yuan renminbi) Should you invest $2,000 in HSBA right now? Before you buy stock in HSBA, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is HSBA one of them? Reveal Undervalued Stocks Now

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PharmEasy further loses its valuation to $456 million: Report - Yes Punjab News PharmEasy's valuation has plummeted to $456 million from $5.6 billion, as it faces massive losses, funding challenges, and a default on a Rs 3,500 crore loan.

PharmEasy further loses its valuation to $456 million: Report yespunjab.com?p=76073

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