- Business
- November 22, 2024
Sebi exempts Roshni Nadar from making open offer in two HCL entities
Sebi on Friday exempted promoter Roshni Nadar Malhotra from making open offers in relation to proposed additional share acquisitions in HCL Technologies and HCL Infosystems. HCL Technologies and HCL Infosystems are listed on BSE and NSE. The orders came after Roshni Nadar Malhotra filed two separate applications with the regulator on September 30 and sought exemption from provisions of Sebi’s SAST (Substantial Acquisition…
- Business
- November 22, 2024
Vedanta demerger moves ahead as NCLT clears way for meetings of shareholders, creditors
Mining major Vedanta Ltd on Friday said the Mumbai bench of the NCLT has asked the company to call for a meeting of its secured and unsecured creditors and shareholders in the next 90 days to discuss the proposed demerger. The proposed demerger will create independent companies housing aluminum, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing…
- Business
- November 22, 2024
Byju Raveendran Gave Businessman $10K Ticket To Flee To Dubai To Avoid Testifying In Court
Byju Raveendran, the founder of the edtech platform Byju’s has allegedly tried to persuade a businessman William R Hailer to leave the US, so that he cannot testify against Byju’s questionable activities he witnessed during his time at Byju’s. As per Bloomberg, Hailer, who is from Nebraska, reportedly testified during a court hearing on Thursday, November 21. What’s The Issue Between Byju Raveendran…
- Business
- November 22, 2024
RBI Inks Treaty For Cross Border Transactions with Maldives to Promote Use of Local Currencies
Mumbai: The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) signed a Memorandum of Understanding (MoU) in Mumbai to establish a framework to promote the use of their respective local currencies, the Indian Rupee (INR) and the Maldivian Rufiyaa (MVR). The MoU was signed in the presence of RBI Governor Shaktikanta Das and MMA Governor Ali Hashim on Thursday. As…
- Business
- November 21, 2024
Kenya Cancels Proposed Airport Deals with Adani Group after US Indictments
Nairobi: Kenyan President William Ruto announced on Thursday that he had ordered the cancellation of a procurement process that was supposed to give over management of the country’s main airport to Adani Group following the prosecution of the company’s founder by the United States. Ruto also said he had ordered the cancellation of a 30-year, $736-million public-private partnership agreement signed by the energy…
- Business
- November 21, 2024
India’s GDP Growth To Pick Up In Third Quarter Compared To First Half Of FY25: ICRA Report
New Delhi: India’s economy is projected to grow at a faster pace in the third quarter of the current financial year (October-December 2024) compared to the first half (April-September 2024), according to a report by ICRA. The report stated that this optimism is based on improving economic indicators and robust activity levels in various sectors. The report added that the preliminary data for…
- 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…
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