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On September 22, the Hong Kong Stock Exchange (HKEX) continued to advance its listing mechanism reforms and launched a 10-week public consultation. The consultation document disclosed that the reforms involve simplified arrangements for various listed company transactions and spin-off listings. Following the previous phase of listing mechanism reforms targeting new shares, this second phase focuses on ongoing regulatory requirements for issuers after listing, covering three main areas: disclosable transactions, connected transactions, and spin-offs. The new rules aim to make it more flexible and efficient for Hong Kong-listed issuers to conduct significant acquisitions, sales, and spin-offs of subsidiaries. Under the current Hong Kong Stock Exchange Listing Rules, transactions by listed issuers are categorized according to percentages of assets, profits, revenue, and consideration: transactions reaching 5% but less than 25% are classified as "disclosable transactions," requiring only an announcement; transactions reaching 25% but less than 75% (sales) or 100% (acquisitions) are classified as "major transactions," requiring a circular and shareholder approval; larger transactions are categorized into "very substantial acquisitions" and "very substantial sales."September 22nd - According to a Wall Street Journal survey of ten economists, nine expect the Indonesian central bank to keep its benchmark seven-day reverse repo rate unchanged at 5.75% on Wednesday. One economist predicts the central bank will raise rates by 25 basis points to 6.0%. HSBC economists stated in a report that the stability of the Indonesian rupiah may give the central bank room to hold rates steady at its September meeting. However, oil prices, El Niño, and the dollars performance could pose risks to inflation, the fiscal deficit, and the trade balance, and could weaken the rupiah later this year. HSBC expects the next central bank rate hike to occur in the fourth quarter, bringing the benchmark rate to 6.0%.On September 22, the new generation of Qianwen AI hardware made its debut at the Yunqi Conference, including the Qianwen AI Glasses N1 and N1 Pro, and the Qianwen AI clip-on earphones. Online pre-orders for the three new products opened on the same day, and they will be available for immediate purchase on October 13.European Central Bank Chief Economist Lane: We have not yet seen a second wave of inflation. Rising energy prices will push up food prices, and pressure on the service sector should remain under control. The economy will grow at a stable but moderate pace.European Central Bank Chief Economist Lane: Inflation will be higher than expected and will last longer.

Airbus And Qantas Are Nearing Their First Sustainable Aircraft Fuel Investment

Aria Thomas

Feb 27, 2023 14:02

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Airbus SE (OTC:EADSY) and Qantas Airways Ltd plan to disclose the first investment from a $200 million fund to develop a sustainable aviation fuel (SAF) industry in Australia within the next month, according to an Airbus executive.


The companies established the fund after Qantas committed to incorporating 10% SAF into its fuel blend by 2030 and placed a multibillion-dollar order for narrowbody and wide body Airbus aircraft.


Australia lacks a SAF industry, so Qantas must purchase the petroleum at international airports.


Stephen Forshaw, Airbus' chief representative for Australia, New Zealand, and the Pacific, stated that the manufacturer and Qantas met weekly to discuss investments of more than $1 million in early-stage SAF initiatives in Australia.


"The first investment has been made, but it has not yet been finalized," he said in an interview prior to Tuesday's opening of the Australia International Airshow. "We've both consented to it, and I believe we'll make an announcement about its completion within the next month or so."


Qantas declined to comment.


According to Forshaw, the majority of investments under consideration involve seed financing, in which the partners may take a minority equity stake.


"Some of them could even predate Series A. It may afford us the opportunity or right of first refusal to invest in Series A, Series B, or beyond "he said. "The pace will then determine if we wish to do so or if we believe it is time to offer it up to other investors."


Given the limited availability of feedstock such as oils and fats, he deferred to specify the type of project that would receive the initial investment. However, he stated that Australia had a great deal of long-term potential to use solar energy for projects that would help meet demand.


Andrew Parker, the chief sustainability officer for Qantas, told analysts last week that the airline could achieve its 2030 goal of 10% SAF through purchases in London and California alone, if necessary, but noted that 70% of the airline's total fuel was sourced from Australia.


"We recognize we must play a leading position in developing a domestic industry," he said, adding that domestic production could begin in the latter half of the decade.


Qantas anticipates that by 2050, approximately 60 percent of its fuel will be SAF in order to satisfy its target of net zero emissions.

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