Kenya scraps $2.6 billion Adani deals in wake of indictment
Kenyan President William Ruto cancelled two deals with Adani Group worth about $2.6 billion over alleged corruption, hours after company founder Gautam Adani was charged by the US authorities in a separate bribery scheme.Ruto ordered his ministers to “immediately cancel the ongoing procurement process” involving the billionaire’s companies to manage
JSW MG’s Windsor SUV pips Tata, Mahindra EVs
NEW DELHI: Is battery rental model, which allows customers easier affordability by paying only for a car, with battery costs being paid as monthly EMIs, working for electric cars? JSW MG’s Windsor, the first electric car to come with ‘battery as a service’ (BAAS) model, was the largest selling green
Sebi: No security deposits needed for public issues
NEW DELHI: Markets regulator Sebi on Thursday abolished the requirement of a mandatory security deposit with the exchanges before a public issue in a bid to facilitate ease of doing business for issuer companies.The move will be applicable with immediate effect, the Securities and Exchange Board of India (Sebi) said
Gold prices surge Rs 1,400 to Rs 79,300 per 10 grams
NEW DELHI: Gold prices on Thursday surged Rs 1,400, reaching Rs 79,300 per 10 grams in New Delhi, majorly due to increased buying from jewellers and retailers, as reported by the All India Sarafa Association. The 99.9 per cent pure metal had previously closed at Rs 77,900 per 10 grams
Sebi removes 1% security deposit requirement for public issues
NEW DELHI: The Securities and Exchange Board of India (Sebi) on Thursday issued a circular scraping the mandatory security deposit requirement with exchanges for public issues effective immediately. The market regulator said that this will help companies to streamline business operations for companies. “In order to facilitate ease of doing
China announces policy measures to shield exports from Trump’s tariff threat
China on Thursday, in response to US President-elect Donald Trump’s threat to increase tariffs on Chinese goods, announced new measures on Tuesday to support its export sector.Beijing aims to create a “good environment” for its exports and counter the “unreasonable foreign trade restrictions” imposed by the US.China’s commerce ministry, in
NTPC Green IPO subscribed 93% on second day of offer
NTPC Green’s IPO was subscribed 93 per cent on the second day of bidding on Thursday, receiving bids for 54,96,35,370 shares against 59,31,67,575 shares on offer, according to the NSE data.The portion reserved for retail individual investors (RIIs) was subscribed 2.38 times, while the qualified institutional buyers (QIBs) segment saw
Tata Power, ADB ink pact for $4.25-billion finance for key energy projects
Tata Power on Thursday said it has signed an initial pact with Asian Development Bank (ADB) to evaluate financing worth $ 4.25 billion for its several strategic projects. A memorandum of understanding has been signed with ADB at Baku, Azerbaijan, Tata Power said in a statement. “The MoU has been
Who is Sagar Adani, accused of bribery and fraud charges along with Gautam Adani in the US?
Sagar Adani, nephew of Gautam Adani, is among the others who have been facing allegation of fraud and bribery in the United States.He with other co-defendants, has been charged by US prosecutors with allegedly paying over $250 million in bribes between 2020 and 2024 to Indian government officials to secure
Rupee hits a new low at 84.50 against US dollar
The rupee fell by 8 paise on Thursday to settle at an all-time low of 84.50 against the US dollar, primarily due to a massive sell-off in domestic equity markets, ongoing foreign investment outflows, and surging crude oil prices due to geopolitical instability.According to forex traders, the dollar is witnessing