Korea’s Hanwha Securities to stop financing Adani’s coal projects in Australia

first_imgKorea’s Hanwha Securities to stop financing Adani’s coal projects in Australia FacebookTwitterLinkedInEmailPrint分享The Guardian:A second major Korean backer of Adani’s Australian coal operation has said it won’t provide any more financial support for the controversial miner, which faces potential debt difficulties related to its Abbot Point export terminal.Guardian Australia has seen a letter from Korean brokerage firm Hanwha Securities – sent to the climate group Tipping Point on 30 July – which stated the firm would cease financing Adani’s coal projects.Last month, the ratings agency S&P Global downgraded its outlook on Adani’s Abbot Point terminal to “stable” after the company’s efforts to refinance debts were hindered by the coronavirus pandemic.The terminal’s Indian parent company, Adani Enterprises, urgently injected $100m needed to meet repayments due in May. Adani Abbot Point has also drawn down on about $170m of shareholder loans to pay off debt – owed to Commbank and Westpac – that was due to mature in November.Adani plans to export coal from its under-construction Carmichael mine from Abbot Point, which has total debts of about $1.5bn. Those debts include about $1.1bn due for repayment by December 2022, according to S&P Global.As the company postpones its efforts to refinance the most immediate Abbot Point debts, environmental activists have now secured withdrawal commitments from two large Korean financiers. Last month, Samsung group company Samsung Securities pledged to cease its financial backing of Adani, just days after protests began to target the group’s electronics branch.[Ben Smee]More: Second major Korean brokerage withdraws financial backing for Adani’s coal projectslast_img read more

Betway & PPF aim to elevate player education with new integrity series

first_img ‘Deal maker’ Rafi Ashkenazi ends Flutter tenure  August 27, 2020 StumbleUpon Share ESI Digital – No Drama Please… Esports growth should be treated as business as usual  August 20, 2020 To coincide with the start of the new football season, the Professional Players Federation (PPF) has unveiled a new series of short films highlighting some key messages around betting integrity in sport.  The films have been produced in partnership with and funded by the PPF’s betting integrity partners – Betway, Paddy Power Betfair and Bet365.The series features contributions from various player associations including the WPBSA, PFA, PCA and RPA as well as bookmaker representatives and sports integrity experts.  The films follow a Q&A format and are aimed at players focusing on a number of different questions around betting, match fixing and the passing of inside information. They also demonstrate the close working relationship between the sports and betting industries in order to counter corruption and keep British sport clean and maintain its world leading reputation in sporting integrity.Speaking about the films, PPF Chairman Brendon Batson OBE outlined: “Player associations do a great job in educating players about betting integrity and these new films are designed to complement this education by giving bite size information and advice for players who may either want to learn more or seek support from their player association.  We are grateful to our betting integrity partners for their funding of player education in this area.” Anthony Werkman CEO of Betway added: “Our support of the Professional Players Federation is an extremely important part of our wider work in the areas of sporting integrity and player education around gambling.  Our aims dovetail with that of the PPF in that we want a clean, competitive and ultimately fun environment for our customers to test their knowledge against, and to our mind these videos will help ensure that both players and the customers of Betway, continue to compete and play solely for the love of the game.”The films are available to view on the PPF Youtube channel and are available to all PPF members to use online or more formal education settings. Share Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 Submit Related Articleslast_img read more