Jollibee shares fell after the corporation spent $350 million on buying Coffee Bean &Tea Leaf (Source: Forbes Vietnam) Jollibee will invest $100 million for an 80 per cent stake in a Singapore venture set up with Vietnamese partners to acquire Coffee Bean & Tea Leaf, it said in a stock exchange disclosure. The rest of the amount will be in the form of advances, according to Bloomberg. In addition, the remaining 20 per cent of the Singaporean venture will be bought by Jollibee’s partner in Highlands Coffee and Pho 24, owners of Viet Thai International JSC. In the statement, Jollibee also announced spending $250 million to pay part of Coffee Bean & Tea Leaf’s debt. Jollibee investors seem to be unsatisfied with this decision. The company's stock has dropped by 8 per cent right after the move was announced. The falling stock has blown away $200 million of Jollibee chairman Tony Tan Caktiong's asset value. Los Angeles-based Coffee Bean & Tea Leaf will add 14 … [Read more...] about Jollibee shares fall after spending $350 million to buy Coffee Bean & Tea Leaf
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With more than a billion subscribers, India is one of the biggest mobile markets - what went wrong? One of India's biggest telecoms firms, Vodafone India, has posted record second quarter losses of 510bn rupees ($7bn; £5.4bn) further exacerbating fears about the state of the industry. Economist Vivek Kaul explains further. What has caused these losses in such a big market? With more than a billion mobile subscribers, India is one of the world's biggest telecoms markets. But there are two reasons for this bloodbath. The first is that for many years while the prices of telephone calls fell, data prices continued to remain high. However, with the entry of Reliance Jio three years ago, this entirely changed. The company slashed data prices and, in the process, managed to change what was essentially a voice market into a data market. This resulted in India ending up with the cheapest mobile data in the world. But this put massive pressure on the players already in the market. … [Read more...] about How did Vodafone lose $7bn in India in just one quarter?
Growing economic interest in the South China Sea has led the European Union and its member states to pay more attention to the region, according to an Italian expert. Dr. Nicola Casarini, Senior Fellow and Head of Asia Research at the Institute of International Affairs attends the 11th South China Sea International Conference which opened in Hanoi on November 6 Nicola Casarini, Senior Fellow and Head of Asia Research at the Institute of International Affairs (IAI) in Rome told Dantri/DTiNews Newspaper on the sidelines of the 11th South China Sea International Conference which opened in Hanoi on November 6 that economic interest was one reason for the EU's rising interest in the South China Sea region. "China is the European Union’s second largest trading partner, and ASEAN is the third. But for ASEAN, the European Union is the second-largest trading partner after China. Because of the great economic interest, Europe and its member states are looking more and more to the … [Read more...] about Europe steps up security presence in South China Sea
The Indian girl was enrolled in school after a photo of her peeking into a classroom sparked outcry. A five-year-old in the southern city of Hyderabad was enrolled in school after a photo of her peeking into a classroom sparked an outcry. BBC Telugu's Deepthi Bathini reports on why the photo doesn't tell the full story. Divya is something of a local celebrity in the slum where she lives. The shy five-year-old was the subject of a recent photo which went viral - it showed her clutching a bowl and peeking into a classroom at the local government school. The touching image was published in a Telugu newspaper on 7 November with a caption that translates from the Telugu as "hungry gaze". It quickly grabbed people's attention: a children's rights activist shared it on Facebook, lamenting that yet another child was being denied the right to food and education. It had such an impact, the school enrolled Divya the following day. But her father, M Lakshman, says the photo and the outcry … [Read more...] about The truth behind India’s viral photo that got a girl into school
Education Novaland gives scholarships to Dong Thap students By Thanh Hoa Monday, Nov 18, 2019,16:29 (GMT+7) Novaland gives scholarships to Dong Thap studentsBy Thanh Hoa Dong Thap students receive Teacher Nhe scholarships - PHOTO: COURTESY OF NOVALAND GROUP HCMC - Novaland Group, through the STF-Pham Phu Thu Scholarship program of the Saigon Times Foundation, granted 180 Teacher Nhe scholarships worth VND2 million each to poor students in the Mekong Delta province of Dong Thap last week. The group also donated VND80 million to the education promotion funds of eight schools in Long Khanh A and Long Khanh B communes in Hong Ngu District. Over the past 15 years, the Teacher Nhe Scholarship program initiated by Novaland has given thousands of scholarships worth billions of dong to needy students in the two communes. Huynh Thi Thuy Trang, who was a beneficiary of the program when she was an eighth grader and is now a … [Read more...] about Novaland gives scholarships to Dong Thap students