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Mumbai: The JSW Group has firmed up a ₹9,300-crore financing package to fund the buyout of Akzo Nobel's local operations, stitching together a mix of debt, convertibles, and loan against shares at the promoter level, multiple people familiar with the tri-level fundraising initiatives told ET. The deal involves three separate tranches - an operating company-level debt of around ₹3,300 crore, a ₹3,000-crore convertible instrument at holdco, and about ₹3,000 crore loan against shares at the promot ...Read More >
Nagpur: The Nagpur Metropolitan Region Development Authority (NMRDA) has almost completed the Rs 132.49 crore phase 1 of the Tajbagh renovation and beautification project and is now awaiting Rs 95.87 crore to start phase 2 of the project. Under the first phase, NMRDA strengthened and beautified the main dargah, constructed a shopping complex, a choti dargah, shops, and other structures, including marble flooring. According to NMRDA sources, Phase 1 of the project received Rs 132.49 crore adminis ...Read More >
MUMBAI: The market is warming to large private credit deals in India, where local borrowers are typically less levered than their peers in the rest of Asia, according to Indranil Ghosh, managing director and head of pan-Asia special situations at Cerberus Capital Management. Cerberus, which has US$65bil under management globally, was among the anchor investors in Shapoorji Pallonji Group's US$3.4bil financing, the country's largest private credit deal to date. While deals of that scale are sti ...Read More >
CHENNAI: Foxconn Technology Group, the Taiwanese contract manufacturer best known for assembling Apple's iPhones, has recently recalled several hundred Chinese engineers and technicians from its operations in India. This development marks a significant challenge for Apple's strategic shift to diversify its production base outside of China, especially as it prepares to ramp up manufacturing of the upcoming iPhone 17. According to a Bloomberg report, more than 300 Chinese staff have already exite ...Read More >
Kolkata: The CBI on Wednesday filed a supplementary charge sheet in the 2021 murder case of BJP worker Abhijit Sarkar, who was killed during post-election violence in Kankurgachhi. The charge sheet names Beleghata MLA Paresh Pal, Kolkata Municipal Corporation councillors Swapan Samaddar and Papiya Ghosh, along with 15 others.In the FIR, Sarkar's mother Madhabi said that on May 2, 2021, eight persons barged into their house at Narkeldanga around 3 pm and started enquiring about her son. The miscr ...Read More >
Mumbai: Gold, which has surged more than 40% over the past one year in dollar terms, might be close to its peak in the current upcycle, several economists and researchers said, pointing to immediate downside risks for the safe-haven asset that had benefited from unsettled geopolitics and central bank buying to hit pricing records since the Covid shutdowns. Citi, Motilal Oswal and a research unit of Fitch Ratings - BMI - are among those suggesting an end to the gold rally, as global macroeconomi ...Read More >
India launched Operation Sindoor in response to the terror attack in Pahalgam ShowQuick Read Summary is AI-generated, newsroom-reviewed Political leadership forbade targeting Pakistani air defences in initial phase, Captain Shiv Kumar saidCongress criticised the BJP government for "misleading" the public on Operation SindoorOpposition demanded all-party meeting and special parliament session on the issue Did our AI summary help? Let us know. New Delhi: A comment by India's defence attache ...Read More >
New Delhi, June 29: The Congress on Sunday cited the reported comments of India's defence attache to Indonesia that the Indian Air Force lost fighter jets to Pakistan during Operation Sindoor and accused the government of having "misled" the country. The party also asked why Prime Minister Narendra Modi is "refusing" to preside over an all-party meeting to take the Opposition into confidence and why the demand for a special session of Parliament has been rejected. Congress general secretary in ...Read More >
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Bengaluru Crime: A woman's body, believed to be between 30 and 35 years old, was found stuffed inside a sack and dumped in a garbage truck in Bengaluru early Thursday. The identity of the woman is yet to be confirmed. Police said the sack was discovered by BBMP sanitation workers who immediately alerted the authorities. The body was found with her hands and neck tied, raising strong suspicion of murder. Officials stated that the body had been placed inside a gunny bag before being thrown into t ...Read More >
New Delhi, Jun 29 (PTI) The Congress on Sunday cited the reported comments of India's defence attache to Indonesia that the Indian Air Force lost fighter jets to Pakistan during Operation Sindoor and accused the government of having "misled" the country. The party also asked why Prime Minister Narendra Modi is "refusing" to preside over an all-party meeting to take the Opposition into confidence and why the demand for a special session of Parliament has been rejected. Congress general secretar ...Read More >
Bengaluru, June 7 (SocialNews.XYZ) The Special Wing of the Criminal Investigation Department (CID) will begin its probe into the Chinnaswamy stampede tragedy, which claimed 11 lives on June 4, starting Saturday. Concurrently, the magisterial enquiry by the Deputy Commissioner of Bengaluru Urban district is also progressing. Sources confirmed that the CID probe will be headed by SP Shubanvita and Dy SPs Gowtham and Purushottam were named as investigators. The CID is likely to seek custody of th ...Read More >
New Delhi: Sundar Pichai, the CEO of Google, presented a vision for the company's future at the recent Bloomberg Tech Summit. He highlights that artificial intelligence will not only revolutionise Google's products but also increase the company's technical workforce and societal effect. Google's staggering 75 billion dollars capital expenditure commitment to AI infrastructure was disclosed by Pichai in an interview with Emily Chang. Pichai showed confidence in Google's ability to expand, despit ...Read More >
Mumbai: The Reserve Bank of India (RBI) on Friday said IndusInd Bank has taken sufficient steps to address improve its accounting practices, with governor Sanjay Malhotra noting that the bank is doing well overall. The remarks signalled regulatory comfort with the lender's actions so far, pushing its shares up over 5%. The RBI's comments come nearly three months after IndusInd Bank disclosed issues in its derivatives book, which triggered a 27% crash in its shares. Since then, the bank has seen ...Read More >
New Delhi: Tata Power Co.'s consolidated net profit increased by 8% in the third quarter of this financial year, surpassing analysts' predictions. The power producer's profit rose to Rs 1,031 crore for the quarter that ended on Dec. 31, 2024, from Rs 953 crore reported in the previous period. This net profit exceeds the Rs 971-crore consensus forecast from analysts monitored by Bloomberg. ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to priori ...Read More >
Bengaluru: Of late, one corner of Chakan, an automobile and manufacturing hub, has been seeing a burst of construction activity. On crossing the factories and manufacturing plants of some of the world's largest automakers, including Mercedes, Volkswagen and Mahindra & Mahindra, the New MIDC Road leads to a 100-acre site. There, on the outskirts of Pune, Chakan V, a sprawling mega logistics park covering 2.6 million sq. ft, is coming up. While the size of the industrial facility is impressive in ...Read More >
HDFC bank's m-cap last breached the Rs 14 lakh crore mark on November 28 during intraday trade, before the stock settled below Rs 1,800 In a significant block deal on Tuesday, 21.7 lakh shares of HDFC Bank were sold, according to Bloomberg. This transaction led to a rise in the bank's market capitalization, surpassing Rs 14 lakh crore during morning trading, with shares increasing by as much as 2% to Rs 1,837 on the BSE. Although the identities of the buyers and sellers remain undisclosed, the ...Read More >
SAN JUAN, PUERTO RICO / ACCESSWIRE / December 2, 2024 / BOTS Inc. (OTCQB:BTZI), a leader in blockchain and robotics innovation, is excited to unveil its groundbreaking strategic pivot into the development and deployment of autonomous AI agents powered by the Solana blockchain. This bold move reaffirms the company's mission to leverage cutting-edge technologies to drive value creation, enhance operational efficiency, and revolutionize the decentralized artificial intelligence (AI) landscape. Rev ...Read More >
Imagine a fixed-income investment advisor who tried out crypto assets and then got converted. That's what happened with New Delhi-based Shiv Pande, who worked closely with pension and provident funds and became curious about the stupendous rise of crypto assets in 2021. He spent a year researching it and invested in it for the first time in July 2022. "I started my research purely from the knowledge perspective so that I don't appear clueless when my clients talk to me about it. I felt I should ...Read More >
Travellers on Schengen visas can add two more countries to their Europe itinerary from 2025On your next trip to Paris, make sure to add one more iconic stop to your itinerary -- Notre Dame, as the beloved cathedral reopens after five years of restoration following the devastating 2019 fire. The tragedy that nearly destroyed the iconic church in April 2019 sparked an outpouring of global emotion. Now, the cathedral -- described by historian Jacques Hillairet as "the house of the people" -- is se ...Read More >
The United States 10-year government bond yield reached a low of 3.6% in September but has rapidly creeped up to 4.2%, erasing all the rate cut impact. The primary cause is the out-of-control public spending and the lack of confidence among bond investors in the government's ability to manage its public finances. Therefore, it is logical that investors fear an inflation bounce. The United States' government is obsessed with doping GDP with government spending and bloating job figures with publi ...Read More >
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