Alibaba combines e-commerce arms to tackle growing competition
Alibaba Group will integrate its domestic Chinese and international e-commerce platforms into a single business unit run by one leader for the first time, the company said in a stock exchange filing on Thursday. The Alibaba E-commerce Business Group, as the unit will be called, brings together the Taobao and
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
Raghu Vamsi group invests Rs 300 crore in integrated facility in Hyderabad
HYDERABAD: Raghu Vamsi Group, a Hyderabad-based manufacturer of high precision, life critical products for aerospace & defence, space, oil & gas and medical sectors, is investing Rs 300 crore in setting up a new facility spread over eight acres at Hardware Park near the Hyderabad international airport.To be spread over
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
Indictment of Gautam Adani, senior executives on US bribery charge credit negative for Adani Group: Moody’s Ratings, ET Infra
NEW DELHI: One of the world’s premier credit rating agencies, Moody’s Ratings, in a statement on Thursday said that the indictment of Adani Group Chairman Gautam Adani and other senior officials on bribery charges by the US Department of Justice is credit negative for group companies. As per the indictment,
Moody’s to evaluate Adani Group’s governance amid bribery allegations
NEW DELHI: Moody’s Ratings on Thursday announced on Thursday that it will evaluate Adani group’s governance standards while determining the conglomerate’s ability to raise capital, following the bribery allegations against its chairman Gautam Adani. “The indictment of Adani Group’s chairman and other senior officials on bribery charges is credit negative
Adani Group denies allegations in first reaction to Gautam Adani US indictment; calls charges ‘baseless’
Following the news of the indictment, Adani Group stocks crashed up to 20%. Gautam Adani-led Adani Group has responded to the bribery and fraud allegations by the US Department of Justice and the US Securities and Exchange Commission, calling the charges “baseless”.The investigation centers on Adani Green Energy Ltd. and