Finance
Finance ministers of Japan and South Korea agree to resume currency swap agreement as ties warm
TOKYO (AP) — Japan and South Korea agreed Thursday to revive a currency swap agreement for times of crisis, in the latest sign of warming ties as the countries work to smooth over historical antagonisms.
Japanese Finance Minister Shunichi Suzuki announced the agreement after meeting with his South Korean counterpart, Choo Kyungho. It was the first time the two countries have held annual financial talks in seven years, though Suzuki and Choo also met in South Korea in May.
Suzuki told reporters that the 3-year currency swap agreement would help reinforce trust in the financial stability of the two countries as a fallback in an emergency. But he emphasized that Japan is fully prepared to deal with fluctuations in the Japanese yen, which has weakened sharply against the U.S. dollar in the past year.
Japan announced Tuesday a decision to reinstate South Korea as a preferred nation with fast-track trade status from July 21, virtually ending a four-year economic row that was strained during their bitter historic disputes.
Tens of thousands of North Koreans marched in anti-U.S. rallies in the nation’s capital over the weekend, pledging “merciless” revenge against “U.S. imperialists,” as the country marked the 73rd anniversary of the start of the Korean War.
Cities in Saudi Arabia, Italy and South Korea are vying for the chance to host the 2030 World Expo, or world’s fair.
The United States has deployed a nuclear-powered submarine capable of carrying about 150 Tomahawk missiles to South Korea.
The $10 billion swap arrangement expired in 2015 and had not been renewed. Largely symbolic, it allows the South Korean and Japanese central banks to exchange currencies for each country’s reserves of U.S. dollars to provide extra liquidity, or cash supplies, in case of a crisis.
The two major Asian economies, both U.S. allies, have recently mended ties as they contend with challenges posed by China and North Korea, despite tensions over issues left over from Japan’s 35-year occupation of the Korean Peninsula before and during World War II.
From July 21, Japan plans to reinstate South Korea as a preferred nation with fast-track trade status. That will essentially end a four-year trade dispute that began in July 2019 when Japan removed South Korea from its “white list” of countries given fast-track approvals in trade as ties deteriorated over compensation for Japanese wartime actions.
Japan’s tightening of trade controls against Seoul was in apparent retaliation for South Korean court rulings in 2018 that ordered Japanese companies to compensate Korean workers for abusive treatment and forced labor during World War II.
Japan also tightened export controls on key chemicals used by South Korean companies to make semiconductors and displays, prompting South Korea to file a complaint with the World Trade Organization and remove Japan from its own list of countries with preferred trade status.
South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida met in March in the first formal summit between the two countries since 2015.
Japan colonized the Korean Peninsula between 1910 and 1945, imposing Japanese names and language on Koreans and conscripting many into forced labor or prostitution in military brothels before and during World War II. Japan gave $800 million to South Korea’s then-military-backed government under a 1965 accord to normalize relations which was mainly used on economic development projects driven by major South Korean companies. A semi-government fund set up by Tokyo offered compensation to former “comfort women” when the government apologized in 1995, but many South Koreans believe the Japanese government should take more direct responsibility for the occupation.
The two sides also have a longstanding territorial dispute over a group of islands controlled by South Korea but claimed by Japan.
Aadhar Housing Finance IPO Allotment: The bidding for the initial public offering (IPO) of Aadhar Housing Finance has ended and the public issue received strong demand. The investors’ focus now shifts on Aadhar Housing Finance IPO allotment which is expected to be finalised on Monday.
Aadhar Housing Finance IPO opened for subscription on May 8 and closed on May 10. Aadhar Housing Finance IPO allotment date is May 13 and share listing date is May 15.
The company will finalise the basis of allotment on Monday and the investors can know if and how many shares they have been allotted.
Also Read: TBO Tek IPO allotment to be finalised on May 13. Latest GMP, steps to check status
Investors can check Aadhar Housing Finance IPO allotment status on the BSE website as well as on the official portal of IPO registrar. Kfin Technologies is the Aadhar Housing Finance IPO registrar.
Follow the below given steps to check Aadhar Housing Finance IPO allotment status online.
Aadhar Housing Finance IPO allotment status on BSE
Step 1: Visit the BSE website on this link – https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select ‘Equity’ under ‘Issue Type’
Step 3: Select ‘Aadhar Housing Finance Limited’ in the ‘Issue Name’ dropdown menu
Step 4: Either the Application number or PAN details
Step 5: Click ‘Search’
Your Aadhar Housing Finance IPO allotment status will appear on the screen.
Also Read: Mandeep Auto Industries IPO opens next week: From price band to key dates – all you need to know
Aadhar Housing Finance IPO allotment status on Kfin Technologies
Step 1: Visit Kfin Technologies website on this link – https://kosmic.kfintech.com/ipostatus/
Step 2: Select ‘Aadhar Housing Finance Limited’ in the Select IPO dropdown menu
Step 3: Select among the options given – Application No, Demat Account and PAN
Step 4: Enter the details as per the option selected
Step 5: Enter Captcha and click ‘Submit’
Your Aadhar Housing Finance IPO share allotment status will be displayed on the screen.
Aadhar Housing Finance IPO GMP Today
Aadhar Housing Finance IPO shares are trading at a decent premium in the grey market. Aadhar Housing Finance IPO GMP today is ₹71 per share, as per market observers. This indicates that Aadhar Housing Finance shares are trading at ₹386 apiece in the grey market, commanding a premium of 22.54% to the issue price of ₹315 per share.
Aadhar Housing Finance IPO Subscription Status
Aadhar Housing Finance IPO has been subscribed 26.76 times in total as it received bids for 178.65 crore equity shares as against 6.67 crore shares on the offer, according to the NSE data.
The public issue has been subscribed 2.58 times in the retail category, 76.42 times in the Qualified Institutional Buyers (QIB) category, and 17.33 times in the Non-Institutional Investors (NII) category.
Read here: Aadhar Housing Finance IPO: Issue subscribed 25.49 times on day 3, QIB portion booked 72 times; Check GMP, other details
Aadhar Housing Finance IPO Details
The bidding for Aadhar Housing Finance IPO commenced on May 8 and ended on May 10. The IPO allotment is likely to be fixed on Monday, May 13, and the Aadhar Housing Finance shares are set to be listed on both the bourses – BSE and NSE – on May 15.
The ₹3,000 crore worth Aadhar Housing Finance IPO was a combination of fresh issue of 3.17 crore equity shares aggregating to ₹1,000 crore and an offer for sale (OFS) component of 6.35 crore shares aggregating to ₹2,000 crore.
Aadhar Housing Finance IPO price band was set at ₹300 to ₹315 per share. Ahead of the IPO opening, the company had raised ₹897.90 crore from anchor investors on May 7.
ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, Nomura Financial Advisory And Securities (India) Pvt Ltd and SBI Capital Markets are the book running lead managers of the Aadhar Housing Finance IPO, while Kfin Technologies is the IPO registrar.
Read all IPO news here
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Published: 11 May 2024, 09:52 AM IST
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British Columbia’s finance minister has announced she won’t be running again in the next provincial election after serving in the legislature for nearly two decades.
Katrine Conroy said it will be hard to leave the people she’s worked with over the years, but at 66, it’s time to step back to spend time with her family.
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Conroy has held several portfolios under the New Democrat government and said it’s too hard to settle on a “greatest accomplishment,” but she’s especially proud of her work to waive post-secondary tuition fees for former youth in care.
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She has also served as forests minister, and she thanked Premier David Eby and his predecessor, John Horgan, during the announcement on Friday, saying they “had the courage to appoint this rural woman to cabinet.”
Conroy was first elected in 2005 to represent West Kootenay-Boundary, then re-elected in 2009, 2013, 2017 and 2020.
She said one of her sons had reminded her that a Conroy had been on ballots in the region since 1986. That’s when her late husband Ed Conroy first ran as a school board trustee before he too served as an MLA between 1992 and 2001.
“That’s 38 years of our family supporting both of us in public service to our communities,” Conroy said at an announcement in Castlegar in the southern Interior, her voice faltering with emotion.
“I have been here as an elected official since (2005) and vicariously through my husband when he was an MLA for 10 years.”
In addition to finance, Conroy currently serves as minister responsible for the Columbia Basin Trust, Columbia Power Corporation and the Columbia River Treaty.
She said her work will continue until someone is elected to replace her.
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While the NDP were in opposition before the 2017 election, Conroy was the critic for seniors and Interior economic development, among other roles.
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