FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Standard Chartered Mulling Sale of Bahrain Operations

By

Standard Chartered (HKG:2888) is exploring the sale of its wealth and retail banking business in Bahrain, Reuters reported on Tuesday.

The disposal is part of the London-based bank's strategy to exit smaller retail and wealth markets and focus on clients at scale, the bank reportedly told Reuters.

The transition is expected to take at least 18 months, while corporate and investment banking operations in Bahrain will remain unaffected, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Market Chatter: Toyota to Reduce Overseas Output Amid Hormuz Closure

Toyota Motor (TYO:7203) will slash production outside Japan by about 100,000 units by around February 2027 as the de facto closure of the Strait of Hormuz affects demand overseas, Nikkei Asia reported Wednesday.The automotive giant will also slash electric vehicle production for China, the report said.Toyota did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:7203
Asia

Update: Comet Ridge Secures Commitments for AU$40 million Placement; Shares Hit Five-Year Low

(Updates with the stock movement in the headline and last paragraph.)Comet Ridge (ASX:COI) received firm commitments for a two-tranche placement of new shares to existing and new investors to raise AU$40 million, according to a Wednesday Australian bourse filing.It plans to issue 390.2 million fully paid ordinary shares at an issue price of AU$0.1025 per share. The first tranche seeks to raise around AU$30.6 million utilising the company's capacity, while the second tranche seeks to raise around AU$9.4 million, subject to shareholder approval.It also plans to offer eligible shareholders the opportunity to participate via a share purchase plan to raise up to an additional AU$5 million.Comet Ridge shares declined nearly 22% in recent Wednesday trade and earlier hit their lowest level since July 2021.

ASX:COI
Asia

Gentrack Group Completes Dubai Technology Partners Acquisition

Gentrack Group (ASX:GTK, NZE:GTK) completed its acquisition of airport technology and services provider Dubai Technology Partners, according to a Wednesday filing with the Australian bourse.Dubai Technology Partners has around 60 employees and will be integrated into Gentrack's Veovo airports division, the company said.

ASX:GTKNZE:GTK