SGX welcomes Noble's decision to get third-party review

By

Kelly Taykellytay@sph.com.sg@KellyTayBT

THE Singapore Exchange on Tuesday afternoon said that it "welcomes Noble Group's initiative to increase transparency", given the company's decision to commission a third-party review of its mark to market models and valuations. 

PHOTO: REUTERS

JUL 7, 20152:55 PM

THE Singapore Exchange on Tuesday afternoon said that it "welcomes Noble Group's initiative to increase transparency", given the company's decision to commission a third-party review of its mark to market models and valuations.

"This will address and help bring closure to questions raised by the market on this issue," said SGX in a statement.

The exchange said it has been monitoring public comments and Noble Group's responses; it will continue to do so and request for further clarity, if necessary.

SGX added: "We have been in close communication with the company on meeting the needs of its stakeholders and we look forward to the company's release of the results of the third-party review."

Latin America, Europe cab drivers team up against Uber

Taxi driver associations from Latin America and Europe teamed up on Monday in their campaigns against Uber and Cabify, following sometimes violent protests over the ride-booking apps. 

PHOTO: AFP

JUL 7, 20158:09 AM

[MEXICO CITY] Taxi driver associations from Latin America and Europe teamed up on Monday in their campaigns against Uber and Cabify, following sometimes violent protests over the ride-booking apps.

Daniel Medina, of the Organised Taxi Drivers of Mexico City, announced an "international front against the illegal operations of these global companies such as Uber that put the taxi sector at risk." Mr Medina said taxi groups from Brazil, France and Spain were joining forces.

In a teleconference from Madrid, the leader of the Elite Taxi organisation, Miguel Chacon, said drivers from the Spanish capital would protest in front of the Mexican embassy on July 29 in support of their Mexican peers.

"Uber came to our country and completely destroyed our social economy," Chacon said.

But Mr Medina and Mr Chacon did not give more details about what actions the associations might take.

Taxi drivers have held protests in Mexico, Brazil and Colombia as well as Europe. In Paris, a demonstration turned violent last month.

In Latin America, Uber drivers or their cars have been physically attacked or threatened by taxi drivers.

Taxi unions argue that Uber represents unfair competition because its drivers do not face the same license fees and other taxes, allowing them to charge much less for rides.

Uber suspended its UberPOP service in France on Friday, six months after it was banned.

AFP