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At Close of Business podcast March 16 2026

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At Close of Business podcast March 16 2026

Claire Tyrrell and Ella Loneragan discuss why Perth Design Week has become an integral part of WA’s arts calendar.

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Risk Assets: Dispersion Trumps Directionality

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Risk Assets: Dispersion Trumps Directionality

Risk Assets: Dispersion Trumps Directionality

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Paytm shares jumps 4% after rival PhonePe halts IPO plans

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Paytm shares jumps 4% after rival PhonePe halts IPO plans
Shares of One 97 Communications, the parent of digital payments platform Paytm, rose nearly 4% to Rs 1014.8 apiece on the NSE on Monday after rival PhonePe said it would temporarily put its initial public offering plans on hold. The rally came as investors interpreted the development as easing near-term competitive pressure in the fintech space, particularly in digital payments and financial services distribution, where both companies operate.

PhonePe said it has decided to defer its proposed public market listing for now, citing heightened geopolitical uncertainty and volatility across global financial markets. The company said it will revisit its listing plans once conditions stabilise.

“We sincerely hope for a swift return to peace in all the affected regions. We remain committed to a public listing in India,” Sameer Nigam, CEO of PhonePe, said in a statement.

The decision comes at a time when escalating geopolitical tensions in West Asia and broader market turbulence have made equity markets more volatile, prompting several companies preparing for IPOs to reassess their launch timelines.

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Analysts say companies planning public offerings are increasingly evaluating whether to proceed at reduced valuations or delay launches until investor sentiment improves.


Also read: PhonePe hits pause on IPO as Iran war roils primary market sentiment

PhonePe is one of India’s largest digital payments companies. Launched in 2016, the platform had over 65 crore registered users and a merchant acceptance network spanning more than 4.7 crore merchants as of September 2025.
The company operates a wide range of digital platforms spanning consumer and merchant payments, insurance and lending distribution, and digital commerce. It has also expanded into adjacent businesses such as Share.Market, a stock broking and mutual fund distribution platform, and Indus Appstore, an Android-based mobile application marketplace.
The pause in PhonePe’s IPO plans reflects a broader trend in the primary market, where companies are becoming more cautious about timing their listings amid volatile equity markets.

According to data from Prime Database Group, 141 companies currently have regulatory approvals to launch IPOs that together could raise around Rs 1.64 lakh crore. Of these, at least 80 companies still have three to nine months of validity left to bring their public issues to market.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Huge waterfront development could bring thousands of jobs

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Catalyst Business Park in Widnes would cover 96 acres

The giant Catalyst Business Park development would reshape the waterfront area of Widnes.

The giant Catalyst Business Park development would reshape the waterfront area of Widnes(Image: FI Real Estate Management)

Ambitious plans have been lodged for a huge commercial and industrial development which would reshape vast swathes of Widnes waterfront and create thousands of potential new jobs.

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Lea Valley Ltd has submitted a planning application for a scheme dubbed Catalyst Business Park. Spanning 96 acres – the equivalent of around 64 football pitches – the site off Earle Road and Tanhouse Lane would stretch between The Hive Leisure Park and what remains of the now mostly demolished Fiddler’s Ferry power station.

It would see construction of 1.8 million sq ft of floor space in units ranging in size from 1,000 to 500,000 sq ft for varying potential uses.

Depending on which companies move in to the units once complete, roles created could be between 1,675 and 3,367 – with annual wages of between £71.6 million and £127.1 million going in to the local economy.

After launching a consultation on the scheme, the firm has now submitted a planning application. The planned site would consist of five zones – one of which is in Warrington and would require its council’s planning permission.

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A planning statement submitted in support of the scheme said: “Catalyst Business Park and its economic effects will be a significant boost to the local and sub-regional economy and long-term prosperity of Widnes.

“And will be a significant benefit to a local area with significant, deep pockets of deprivation that, in part, is linked to lack of access to good quality, employment opportunities.”

Construction would take place in four phases over a period of 10 years. It said:

“As a site that has been extensively used in the past for heavy chemical engineering and related manufacture, and which contains areas of landfill, there are significant matters relating to ground contamination to be dealt with.

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“This forms part of the basis for the planned phasing of development across the site.”

Applicant Lea Valley Limited acquired the site in early 2024 as part of its business plan to grow its portfolio of employment land and property.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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Satu Wallet Launches All-in-One Crypto Super App With $SATU Token on Solana

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Satu Wallet Launches All-in-One Crypto Super App With $SATU Token on Solana

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Oil Holds Above $100, Stocks Mixed as Global Markets Look for Direction

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Oil Holds Above $100, Stocks Mixed as Global Markets Look for Direction

Oil prices held above $100 a barrel and stocks struggled for direction as traders weighed mixed signals heading into the third week of conflict in the Middle East.

The dollar was flat and Asian and European stocks were mixed after President Trump sought to pressure a range of countries to help protect trade through the Strait of Hormuz. The success of Trump’s push remained unclear. Investors are focused on the crucial waterway, with markets highly sensitive to developments.

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Citizens reiterates Century Casinos stock rating citing weather impact

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Citizens reiterates Century Casinos stock rating citing weather impact

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UK manufacturing on ‘fragile footing’ with fears over Iran war and cost rises

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Make UK warns rising oil prices above $100 and energy costs from Middle East conflict threaten sector’s modest growth outlook

Steel at a site near Wolverhampton

Make UK is warning over rising costs(Image: PA)

UK manufacturing has begun the year on a “fragile footing,” with its economic position likely to deteriorate due to the Middle East conflict, the sector’s industry body has cautioned.

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A new report from Make UK said the sector is projected to expand by just under one per cent in 2026, a modest recovery following a 0.2 per cent contraction in 2025.

However, the manufacturing sector’s future prospects were characterised as “precarious,” with the report highlighting a sharp decline in UK activity over recent months that had sparked concerns domestic demand had “collapsed”.

Fhaheen Khan, senior economist at Make UK said: “UK manufacturers have started 2026 on a fragile footing.

“While output and investment show some improvement after a challenging end to last year, rising costs and weakening domestic demand are creating real pressures for businesses.”

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The latest Purchasing Managers Index (PMI) for manufacturing demonstrated a reading of 51.7 in February, above the 50-figure threshold for neutrality in output,as reported by City AM.

It represented the highest figure recorded since late 2024, with manufacturing output now growing in each of the past four months.

This came as large and medium-sized firms were bolstered by a rise in export orders, with intakes of new work from China, the EU and the Middle East increasing at the fastest rate in four and a half years. However, the data was overshadowed by ongoing falls in employment and purchasing stocks.

Nevertheless, S&P Global analysts noted a decline in employment was the mildest recorded over the past 16 months.

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The industry body, which represents thousands of manufacturers, has urged the government to approve North Sea drilling or risk a surge in energy costs amid rising oil prices from the Iran war.

Stephen Phipson, chief executive of Make UK, said: “Manufacturers are calling for the government to act quickly to progress with the Rosebank and Jackdaw developments to mitigate energy costs and energy security because of the conflict in the Middle East.”

Energy secretary Ed Miliband has rejected this, telling Sky News on Sunday Morning: “Some people want to go around and pretend that if we only we draw more [oil and gas from the North Sea,] prices would go down. That is totally false.”

Analysis from Oxford Economics has indicated the UK could be thrust into a recession should the price of a barrel of oil climb to $140, and remain at the elevated price until at least May.

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Oil closed above $100 for the first time since 2022 on Thursday and finished the week above $103.

Khan cautioned: “With UK industrial energy costs among the highest in the developed world, any sustained increase in oil and gas prices could quickly push up input costs, squeezing margins and limiting investment.”

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Alcohol-free beer and pet grooming used to measure inflation

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Alcohol-free beer and pet grooming used to measure inflation

Houmous and motorhomes are also added to the basket of goods and services used to chart the rising cost of living.

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MTR Corporation Limited (MTCPY) Q4 2025 Earnings Call Prepared Remarks Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Siu-min Choy
Corporate Affairs & Branding Director

Greetings, everyone, members of the press. I am Linda Choy, Corporate Affairs and Branding Director of MTRC. We welcome to the Annual Results 2025 press briefing. First of all, let me introduce the corporate representatives on stage. Seated in the middle is Ms. Jeny Yeung, the CEO. Next to her on the right are Mr. David Tang, Managing Director, Property and International business; and also Mr. Wilson Kwong, Hong Kong Transport Services Director. And on the left are Mr. Michael Fitzgerald, FD; and Mr. Carl Devlin, Capital Works Director; and also Mr. Sammy Wong, Chinese Mainland Business Director. We’ll be using Chinese in the main today.

Ms. Jeny Yeung will be talking about the 2025 full year results. And after that, Michael will go through the financials. And then Ms. Jeny Yeung will come back and share the company’s outlook and future developments. And she will also be speaking in English in summary. And today, we have simultaneous interpretation in Chinese and also in English. After that, we will have a Q&A session. Jeny, please.

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Mei-Chun Yeung
CEO & Director

Thank you, Linda. Ladies and gentlemen of the media, good afternoon to you. Welcome to the annual results 2025 for MTRC. And this year marks my first announcement of my corporation’s results as CEO. I would like to thank the Board for entrusting me with this important responsibility and we’ll continue to work with our teams to grow MTR’s business, create opportunities and optimize value.

I will first present the corporation’s 2025 performance and share our 2026 outlook. 2025

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From Farm to Freezer Leader

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From Farm to Freezer Leader

In 2022, a frozen fruit company quietly launched in Spring, Texas.

It did not come with hype. It came with a clear plan.

IRJ Frozen Foods, LLC was founded on a simple idea: give people access to high-quality fruit year-round. Not just any fruit. Carefully sourced fruit. Properly frozen fruit. Fruit that holds its flavor and nutrients.

“Our goal in starting this business was to build a reliable, sustainable company,” the team says. “We wanted to deliver high-quality frozen fruit products while creating long-term value for our partners and community.”

In just a few years, IRJ has positioned itself as a serious player in the frozen fruit supply chain.

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How IRJ Frozen Foods Got Started

IRJ Frozen Foods was founded in Spring, Texas in 2022. The company entered a competitive industry dominated by large national brands and global suppliers.

Instead of competing on noise, IRJ focused on structure.

The founders built the company around sourcing and supply discipline. They formed strong grower relationships in Mexico and Peru. They focused on being direct producers. No unnecessary middle layers.

“We are direct producers — from the farm to the table,” they explain.

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That decision shaped everything.

Rather than simply reselling frozen fruit, IRJ works closely with trusted growers. Fruit is selected at peak ripeness. Then it is frozen using modern techniques designed to lock in flavor, texture, and nutrients.

From day one, the company made control a priority.

“By packaging the majority of our products in-house, we maintain full control over quality,” they say. “That guarantees consistency with every batch.”

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What Makes IRJ Frozen Foods Different?

The frozen fruit business is not simple. Margins are tight. Food safety rules are strict. Retailers demand reliability.

IRJ leaned into those realities.

The company supplies frozen strawberries, mango, avocado, and blueberries. They serve supermarkets, major wholesalers, and food service companies. They offer bulk formats and retail-ready packaging.

But the real difference is operational focus.

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“We believe in integrity, operational excellence, food safety, and fair trade practices,” the company says.

IRJ emphasizes certifications. The company holds Organic, FDA, USDA, and Kosher certifications. That signals process discipline. It also opens doors with national buyers who require compliance standards.

Still, certifications are not the story. Systems are.

IRJ built its structure around transparency and supplier relationships. The team works closely with growers to ensure quality standards are met before fruit ever enters cold storage.

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“We promote transparency, strong supplier relationships, and responsible growth,” they explain.

That steady approach has helped the company expand coast to coast since launch.

Sourcing from Mexico and Peru: A Strategic Move

Geography matters in frozen fruit.

Mexico and Peru are major producers of strawberries, mangoes, avocados, and blueberries. Seasonal patterns allow for consistent harvesting windows.

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IRJ built sourcing channels in both countries. That reduces supply risk. It also allows for year-round availability.

“Our Frozen Fruit selection is the perfect way to enjoy a variety of fruits throughout the year,” they say. “All of our fruit is carefully selected and expertly frozen to ensure it retains all its natural goodness and flavor.”

The company’s model depends on timing. Fruit must be harvested at peak ripeness. Then it must be frozen quickly to preserve quality.

That farm-to-freezer chain is where IRJ positions itself as a leader.

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Leadership Through Process, Not Hype

IRJ does not frame itself as a flashy brand. It frames itself as a disciplined operator.

The founders describe their mission clearly.

“Our mission is to consistently provide safe, premium products with disciplined execution, building trust and lasting partnerships in every market we serve.”

That phrase — disciplined execution — appears often in their language.

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In food distribution, discipline matters more than marketing slogans. Retail buyers want consistency. Food service companies want reliability. Consumers expect safety.

IRJ built its business around those expectations.

The company’s growth since 2022 has been steady rather than rapid. They supply major wholesale and retail accounts. They continue expanding distribution across the United States.

Their approach is measured.

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“We believe everyone deserves access to high-quality, nutritious fruit year-round,” they say. “We’re passionate fruit enthusiasts on a mission to revolutionize the way you experience nature’s sweetness.”

It is a simple mission. But in a supply-driven industry, simple can be powerful.

The Future of IRJ Frozen Foods

Frozen food demand has remained strong in recent years. Consumers value convenience. Retailers value shelf stability. Food service operators value cost control.

IRJ sits at the intersection of those needs.

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The company continues to focus on sourcing quality fruit, strengthening supplier networks, and maintaining high standards across operations.

“With every bite, we aspire to enrich lives,” they say. “Delivering wholesome, great-tasting frozen products that allow our customers to savor the goodness of nature without compromise.”

That statement captures their long-term view.

IRJ Frozen Foods, LLC is not trying to reinvent frozen fruit. It is trying to execute it better.

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From Spring, Texas to coast-to-coast distribution, the company has built a model based on control, certification, and supply chain clarity.

In a business where consistency wins, that may be its strongest advantage.

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