- Business
- November 29, 2024
India’s economy slows sharply at 5.4% in Q2 of FY25
India’s economy slowed much more than expected in July-September, hampered by weaker expansions in manufacturing and consumption, which will add pressure on the central bank to cut interest rates. Gross domestic output in the world’s fifth biggest economy rose by 5.4 per cent in July-September year-on-year, data showed on Friday, the slowest pace in seven quarters and well below a Reuters poll of…
- Business
- November 29, 2024
India’s GDP Growth Slows To 5.4 Per Cent In Q2, Lowest In Two Years, Still Fastest Growing Economy
New Delhi: India’s economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturing and mining sectors, but the country continued to remain the fastest-growing large economy, data showed on Friday. The gross domestic product ( GDP ) had expanded by 8.1 per cent in the July-September quarter of 2023-24…
- Business
- November 29, 2024
Abu Dhabi’s IHC, Sri Lanka Port Authority, Tanzania reaffirm support for Adani Group
New Delhi, Nov 28 (PTI) Abu Dhabi’s International Holding Company (IHC), one of the largest sovereign funds that manages assets close to USD 100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate’s founder chairman Gautam Adani.”Our partnership with the Adani Group reflects our confidence in…
- Business
- November 29, 2024
Zomato’s Rs 8500 Crore QIP – Check Investors, Floor Price, Future Plans
Zomato, one of India’s leading food and grocery delivery giant has announced that it will raise Rs 8,500 crore through Qualified Institutional Placement (QIP). Zomato made this announcement via an exchange filing. The Issue of QIP opened on November 25, 2024, and closed on November 28, 2024. In the filing, Zomato said “The Fund Raising Committee of the Board of directors of the…
- Business
- November 29, 2024
No Negative Actions So Far By Lenders, Investors On Adani After US Indictment: Crisil
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex)…
- Business
- November 28, 2024
Finmin Proposes To Raise FDI In Insurance To 100%
New Delhi, Nov 28 (PTI) The finance ministry has proposed to amend various provisions of the Insurance Act, 1938, including raising foreign direct investment (FDI) in insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence. The Department of Financial Services (DFS) has sought public comments on the proposed amendments by December 10. As per the proposal, the…
- Business
- November 28, 2024
NSE, BSE Will Become ‘Alternative Trading Venues’ From April 1 – SEBI Order
New Delhi: SEBI has issued important guidelines to create procedures for interoperability in the Indian stock exchanges. In its latest update on Thursday, SEBI said that going forward, NSE would act as an alternative trading venue for BSE and vice-versa. The provisions of this circular would come into effect from April 1, 2025, SEBI said. “Both exchanges would prepare a joint SOP that…
- Business
- November 28, 2024
Dr Reddy’s Launches Toripalimab In India To Treat Nasopharyngeal Cancer
New Delhi, Nov 28 (PTI) Dr Reddy’s Laboratories on Thursday said it has launched Toripalimab, a drug for the treatment of recurrent or metastatic nasopharyngeal carcinoma in India. Nasopharyngeal carcinoma (NPC) is a rare, aggressive form of head and neck cancer that originates in the nasopharynx, the upper part of the throat. The company has launched Toripalimab, a new biological entity (NBE), Dr…
- Business
- November 28, 2024
Dubai’s First Commercial Brewery Is Being Created By… – Details
DUBAI, Nov 28 (Reuters) – A Heineken joint venture plans to build the Gulf’s first major commercial brewery in Dubai, the metropolitan city where glitzy bars and restaurants attract millions of tourists each year. Sirocco, a joint venture between Heineken and Dubai state-linked Maritime Mercantile International, said it will build a brewery that will produce popular beer brands in Dubai, which has long…
- Business
- November 28, 2024
Israel Backs Adani Group; ‘We Want…’ – What Israeli Envoy Said
HYDERABAD, India, Nov 28 (Reuters) – Israel wants India’s Adani Group to continue to invest in the country, Israel’s envoy to India said on Thursday, affirming the nation’s support for the ports-to-media conglomerate whose billionaire founder is facing bribery allegations in the United States. “We wish Adani and all Indian companies continue to invest in Israel,” Ambassador Reuven Azar said in an interview…
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