- Business
- November 21, 2024
‘Baseless, Denied’ – Adani Group On US Court Order: FULL Statement
New Delhi: Shortly after a US Court in New York issued a criminal indictment against Adani Group board members, the company withdrew the ongoing proceedings of the proposed USD-denominated bond offerings. In a brief statement on the bourses, Adani Green Energy Limited said that ‘in light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD-denominated bond offerings’.…
- Business
- November 21, 2024
Gautam Adani Charged in US with Bribery, Fraud
New Delhi: Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world’s richest people, has been indicted in New York over his role in a $265 million bribery scheme, according to U.S. prosecutors. U.S authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay the bribes to Indian government officials to obtain contracts…
- Business
- November 20, 2024
Curb Debts To Prepare For Next Pandemic: Ex-RBI Governor Raghuram Rajan
Raghuram Rajan, former Governor of the Reserve Bank of India said that high public debt cannot be left to fester in the US and its peers in a world that is prone to more pandemics than before. The one-time chief economist of the International Monetary Fund warned countries that if they keep borrowing money they leave themselves exposed for any impending emergencies. Speaking…
- Business
- November 20, 2024
Trump Unleashing Tariffs On China In Early 2025? What Do Chinese Economists Think?
The United States is likely to impose nearly 40% tariffs on imports from China early next year, according to media reports. President-elect Donald Trump is set to take office from January onwards, and he pledged during his campaign to slap heavy tariffs on Chinese imports in line with his “America First” trade policy. This has caused a lot of discomfort to Beijing and…
- Business
- November 19, 2024
PSU Stocks To Give 30% Annual Dividend Of PAT To Shareholders
The Central Public Sector Enterprises as a way of ensuring consistent returns for shareholders and better financial flexibility will now give a minimum annual dividend of 30% of their profit after tax (PAT) or 4% of their net worth. The Department of Investment and Public Asset Management (DIPAM) released an updated framework through a memorandum introducing key measures for dividends, share buybacks and…
- Business
- November 15, 2024
Trump 2.0: CLSA Reverses China Shift, Becomes 20% Overweight on India
New Delhi: Amid the recent exodus of Foreign Institutional Investors (FIIs) from Indian markets, brokerage firm CLSA has reversed its previous strategy, stating that it ‘reversed its tactical allocation in early October, returning to a benchmark on China and 20 percent overweight on India.’ CLSA, in its latest note, observed that ‘misfortune happens in threes’ and stated that India appears to be ‘among…
- Business
- November 14, 2024
Bitcoin at $93,000 – What 1 Bitcoin Can Buy You In India?
Bitcoin’s value briefly crossed $93,000 due to an expectation that interest rates would be further cut down by the Fed and Trump’s pro-crypto stance. Although Bitcoin rose nearly 6% to an all-time high of $93,462, the rise was not sustained as it dropped to $91,175 early on Thursday afternoon. Largely, however, the crypto market stays volatile. What Can 1 Bitcoin Buy You In…
- Business
- November 14, 2024
Reliance, Disney, and Viacom18 Finalize ₹70,352-Crore Media Merger, Nita Ambani Appointed Chair
New Delhi: Reliance Industries Limited (RIL) has successfully completed its joint venture (JV) with The Walt Disney Company. The merger of the media and JioCinema businesses of Viacom18 into Star India Private Limited (SIPL) was approved by regulatory authorities, including the National Company Law Tribunal (NCLT) Mumbai and the Competition Commission of India. Following the merger, Nita M. Ambani has been appointed as…
- Business
- November 14, 2024
Bad News! 17,000 Boeing Employees Face Layoffs in Sweeping Job Cuts: Reports
New Delhi: Boeing Co. is set to begin notifying employees on Wednesday as it proceeds with planned job cuts aimed at increasing efficiency, reported Bloomberg. This move represents a delicate balancing act for the company, which needs to streamline its workforce without losing the skilled talent essential for boosting production levels in the future. The company announced last month that it would be…
- Business
- November 13, 2024
UK Businesses Drive Growth in India, Generating Over Rs 5,000 Bn Revenue: Report
New Delhi: UK businesses are playing a significant role in India’s economic development, with 667 UK-owned companies contributing Rs 5,082 billion in revenue and employing over 523,000 people, according to the latest Britain Meets India 2024 report, released by Grant Thornton Bharat in collaboration with the Confederation of Indian Industry (CII). The report showcases the expanding footprint of UK companies in India. It…
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