Earthquake of magnitude 5.6 strikes Mindanao, Philippines

MANILA: A magnitude 5.6 earthquake struck Mindanao, Philippines on Saturday, the German Research Centre for Geosciences (GFZ) said.

The quake was at a depth of 10 km (6 miles), it said.

The Philippine seismology agency said it was a tectonic magnitude 5.9 earthquake. It is expecting no damage, but there could be aftershocks, it said in a bulletin. – Reuters

5 thoughts on “Earthquake of magnitude 5.6 strikes Mindanao, Philippines – GFZ”

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The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Other analysts have remained silent about
Star since its financial update was delivered last week.

In a possible blow to these asset sale hopes, it has been reported
that an Australian company that was lined up to
buy the leasehold of the Treasury Hotel in Brisbane has pulled out in recent
times. Coincidentally, another significant shareholder in E-Commerce is PAG – a major Asian investment company that is the largest shareholder in troubled Australian airline Rex.
He does share the name with a businessman who is the majority shareholder in a Hong Kong-listed company, E-Commodities Holdings, which trades in commodities, including coal and
oil. Unless Wang has been given regulatory approval to move beyond 10 per cent of the casino
group (and there is no suggestion he has),
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“I’m pretty sure there’s plenty of deals around that can be done to stop it from doing that,” he said.
“To me, it has been a disaster dealing with the management of Star and I think … there is no doubt the board should be blamed for how bad it is,” he told ABC Radio Brisbane.

He said poor management has been the company’s
main issue. Now the chances of losing it all have been turned back onto one of Australia’s biggest casino operators.
At casinos, the odds are never in a punter’s favour. “Traditionally, probity checks have taken many months for new operators in casinos across the different state jurisdictions,” Mr Jones said.

Star Entertainment’s board has agreed to hand control of the casino group to US-based Bally’s Corporation in a $300
million deal that will stave off financial collapse once completed.
In a separate development for the casino operator,
its shares surged in early trade on Monday after
it confirmed it was in talks to sell off its stake in Brisbane’s Queen’s Wharf casino development.

The company has told investors it has made a
deal with its Hong Kong partners, surrendering
its share in Queens Wharf. Shares in struggling casino giant Star Entertainment have plummeted after a brief trading
halt was lifted, as the company searches for a
financial lifeline by the end of the day.
The casino giant said it was anticipating a funding deal on Friday which it would consider,
but again warned of the possibility of facing
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