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CTV News
16 hours ago
- CTV News
B.C. driver who caused life-altering injuries for A&W worker gets $1,500 fine
An 80-year-old driver who crashed into a North Vancouver fast food restaurant, sending a worker scalded with oil to the ICU, has been fined $1,500. The driver who changed Ruby Punzalan's life forever has received a fine for driving without due care and attention. George Collins was behind the wheel of the SUV that collided with the wall of the North Vancouver A&W restaurant Punzalan was managing in March 2024. The collision splashed burning hot oil from the restaurant's deep fryer all over Punzalan's face and body. She spent three weeks in intensive care and almost a month in a burn recovery unit. Earlier this year, the B.C. Prosecution Service approved the charge against Collins in connection to the case. Driving without due care and attention is a Motor Vehicle Act offence, not a Criminal Code offence. That distinction means Punzalan cannot sue Collins or ICBC for compensation. Under ICBC's 'enhanced care' model, victims can only sue for damages if the driver is convicted of a criminal offence. In January, Punzalan told CTV News WorkSafeBC has been covering 90 per cent of her salary, as well as her medical bills and therapist appointments. She said ICBC contacted her monthly to check-in, but she had not received any compensation from the Crown corporation up to that point. In a statement at the time, ICBC said 'currently, WorkSafeBC is providing all recovery benefits for Mrs. Punzalan and we're not aware of any additional benefits needed.' It added it would provide coverage for any treatments or benefits needed under enhanced care that aren't covered by WorkSafeBC. Collins entered a guilty plea in the case earlier this week, according to the BCPS. The 80-year-old was sentenced to a fine of $1,500, plus a victim surcharge of $225. With files from CTV News Vancouver's Shannon Paterson and Isabella Zavarise
The Standard
13-06-2025
- Business
- The Standard
Top 2,000 companies' net profit grows 9pc despite uncertainty
The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. Picture taken April 1, 2019. REUTERS
Gulf Today
12-06-2025
- Business
- Gulf Today
Nasdaq Dubai welcomes ICBC's $1.72 billion Green Bond listings
Nasdaq Dubai on Thursday welcomed the listing of three Green Bond issuances totaling $1.72 billion by Industrial and Commercial Bank of China Limited (ICBC). The bonds were issued under the bank's $20 billion Global Medium Term Note Programme by its branches in Dubai (DIFC), Hong Kong, and Singapore. These issuances further strengthened ICBC's position as the leading Chinese issuer, as well as the leading RMB denominated bond issuer on the exchange. To commemorate the successful listing, Zhang Yiming, Ambassador of the People's Republic of China to the UAE rang the bell at the market-opening ceremony at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM) and Liu Hua, General Manager of ICBC Dubai (DIFC) Branch. Liu Hua, General Manager of ICBC Dubai (DIFC) Branch, said, 'The successful listing of ICBC's multi-currency carbon neutrality-themed green bonds issued by its branches in Dubai (DIFC), Hong Kong, and Singapore on Nasdaq Dubai reflects ICBC's confidence and commitment to the UAE capital market. As a pioneer in green financing, ICBC has significantly contributed to the environmental sustainability by extending green products, particularly within the framework of the Belt and Road Initiative. With a cumulative total of $5.6 billion outstanding bonds in the UAE, ICBC reaffirms its strategic foresight and dedication to fostering eco-friendly and sustainable development globally.' Hamed Ali, CEO of Nasdaq Dubai and DFM, commented, 'We are delighted to welcome ICBC's latest multi-currency Green Bond listings to Nasdaq Dubai, reflecting the strength of our partnership and the growing appeal of Dubai's capital markets among international issuers. These listings underscore Dubai's role as a trusted global hub for sustainable finance and reinforce our commitment to providing a transparent, innovative, and efficient marketplace that supports responsible investment. We look forward to continuing our collaboration with ICBC as they expand their ESG footprint globally.' Following this listing, Nasdaq Dubai's total debt listings have reached $136 billion, including $40 billion in bonds and $17 billion in Green Bonds. The exchange's ESG-related issuance portfolio at $29 billion, reaffirms its leadership in advancing sustainable finance across the region and beyond. Nasdaq Dubai continues to cement its position as a global leader in fixed income listings and a central platform for sustainable investment. Meanwhile Nasdaq Dubai on Tuesday welcomed the listing of a $500 million Additional Tier 1 (AT1) Sukuk issued by Sharjah Islamic Bank (SIB). The perpetual, non-call six-year AT1 Capital Certificates were issued by SIB Tier 1 Sukuk IIND Ltd and are compliant with Basel III regulations. The issuance attracted strong interest from both regional and international investors, providing Sharjah Islamic Bank with additional capital to fuel its long-term growth plans. This latest transaction brings the Bank's total outstanding on Nasdaq Dubai to $2.5 billion across five listings. It also reinforces Dubai's strategic role in advancing the Islamic capital markets ecosystem. To mark the occasion, Ahmed Saad, DCEO of Sharjah Islamic Bank, rang the market opening bell at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Saad commented, 'The successful listing of our $500 million perpetual Additional Tier 1 Sukuk on Nasdaq Dubai marks a significant milestone in Sharjah Islamic Bank's strategic growth journey. This issuance reflects our strong fundamentals, robust investor confidence, and commitment to maintaining a solid capital base in line with Basel III requirements.' Ali stated, 'This listing reflects more than capital raising -it's part of a broader shift as regional institutions like Sharjah Islamic Bank lead the deepening of local debt markets. As demand for diversified, Shariah-compliant instruments continues to grow, Nasdaq Dubai is proud to serve as a trusted platform for innovation in Islamic finance. 'The momentum we are seeing in Sukuk issuances signals a maturing financial ecosystem where local ambition meets global capital flows. SIB's continued engagement underscores the strategic role financial institutions play in building resilient, forward-looking capital markets across the UAE and beyond.' With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached $95.7 billion, underlining its status as one of the world's largest venues for Islamic fixed-income securities. Nasdaq Dubai's broader debt capital market has now surpassed $136 billion across 160 listings, reflecting growing international confidence in Dubai as a gateway for capital flows between the Middle East and the world. Sharjah Islamic Bank (SIB) has successfully priced $500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125 per cent and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. WAM
Hi Dubai
12-06-2025
- Business
- Hi Dubai
ICBC Lists USD 1.72 Billion in Green Bonds on Nasdaq Dubai
Industrial and Commercial Bank of China (ICBC) has listed three green bond issuances worth a combined USD 1.72 billion on Nasdaq Dubai, reinforcing its leadership in sustainable finance and its commitment to the UAE capital market. The listings were made under ICBC's USD 20 billion Global Medium Term Note Programme through its branches in Dubai (DIFC), Hong Kong, and Singapore. The issuances include USD 1 billion floating rate notes by the Hong Kong branch, USD 300 million fixed-rate notes by the Singapore branch, and CNH 3 billion notes by the Dubai (DIFC) branch — all due in 2028. To mark the milestone, His Excellency Zhang Yiming, Ambassador of China to the UAE, rang the market-opening bell at Nasdaq Dubai, joined by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and Liu Hua, General Manager of ICBC Dubai (DIFC). Liu emphasized the significance of the multi-currency, carbon-neutrality-themed bonds as a reflection of ICBC's strategic focus on sustainable development, particularly under the Belt and Road Initiative. With USD 5.6 billion in total outstanding bonds in the UAE, ICBC continues to expand its green finance footprint globally. Hamed Ali noted that the listings highlight Dubai's growing role as a global hub for sustainable finance, adding that Nasdaq Dubai remains committed to supporting responsible investment and innovation in capital markets. With this addition, Nasdaq Dubai's total debt listings have reached USD 136 billion, including USD 29 billion in ESG-related instruments — further cementing its position as a key platform for sustainable investment in the region. News Source: Dubai Media Office
Forbes
12-06-2025
- Business
- Forbes
China's Largest Companies 2025: Trade War Clouds The Outlook For China
China's representation on the Global 2000 has been declining for a few years after peaking at 351 companies in 2022. Sluggish domestic consumption and the prospect of a U.S.-China trade war is already taking its toll among Chinese companies. The total number of companies from China in the 2025 Forbes Global 2000 ranking (including Hong Kong) declined to 317 from 324 last year. Although China continues to have the second-largest number of companies on the list after the U.S., its count has fallen for three consecutive years after peaking at 351 in 2022. The aggregate revenues of the Chinese companies on the list has been roughly flat at $8.7 trillion in the last 12 months, while cumulative assets ticked up to $62 trillion. Forbes' Global 2000 weighs market value, revenue, profit and assets equally, using the latest 12 months of data as of April 25. Banking heavyweights are toppers again. The Industrial and Commercial Bank of China (ICBC) is the highest-ranked Chinese company, at No. 3, up one spot from a year ago. It's also the largest in the world in terms of assets with a staggering $6.7 trillion and the most profitable among Chinese companies logging $51 billion in net profit for the past 12 months. Two other state-controlled banks in the top 10 are China Construction Bank and the Agricultural Bank of China, at No. 7 and No. 8, respectively. The highest-ranked non-state-owned enterprise is insurance giant Ping An (No. 27), followed by internet juggernauts Alibaba Group Holding (No. 33) and Tencent Holdings (No. 37). The latter is the most valuable in this cohort, with a market cap of $562 billion. Tencent's shares got a boost amid the Chinese tech stock rally fueled by DeepSeek, the Chinese AI rival to ChatGPT launching its first large language model in January and setting the tech world on fire. In terms of revenues, China Petroleum & Chemical, or Sinopec, is the biggest with $390 billion in sales over the past 12 months. More than half the Chinese companies have dropped in the ranking from last year. Dairy producer China Mengniu Dairy fell 485 spots to No. 1849 as its net profit shrank by 98% to $14 million, partly due to losses incurred by its Australian subsidiary, infant formula maker Bellamy. Notable among the companies that bucked the trend is EV-maker Seres Group, which climbed up 782 spots to No. 904. After teaming with tech giant Huawei (which is privately held hence excluded from these ranks) to launch its Aito smart EV series in 2021, it's overtaken BMW as the top luxury car brand in China with 151,000 units sold last year. The biggest group of Chinese companies are from banking (51), followed by construction (including real estate) with 43 firms, though most of them have slipped in the ranks amid China's persistent property slump. A surprising name among the 21 returnees this year: distressed real estate developer Country Garden Holdings, which is undergoing a debt restructuring but resumed trading on the Hong Kong stock exchange in January after a 10-month suspension that was imposed when it delayed filing its financial results for 2023. The three new entrants include bubble tea maker Mixue Group, which listed on the Hong Kong Stock Exchange in March and has become the world's largest food & beverage chain by store count with more than 46,000 outlets. Another new name is toy wunderkind Pop Mart International Group. Shares of the company, which makes the wildly popular rabbit-like Labubu doll that was recently spotted on pop star Rihanna's handbag, are up five-fold from a year ago. Thirty Chinese companies that made the cut last year dropped off, including three solar panel manufacturers. Notable in this group is Jinko Solar, which was ranked at No. 1044 a year ago but lost its place after net profit plunged 99% to $14 million after bruising competition caused prices of photovoltaic products to plummet. Forbes MORE FROM FORBES
