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
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
Haryana chief secretary reviews status of nine infrastructure projects, ET Infra
CHANDIGARH: Haryana Chief Secretary Vivek Joshi on Thursday reviewed the progress of nine infrastructure projects currently underway in the state with an anticipated investment of Rs 58,274.05 crore. Reviewing the projects listed in the Project Monitoring Group (PMG) at a state-level meeting here, Joshi held detailed discussions with the concerned
India’s economic growth projected to accelerate in Q3 FY2025: ICRA report
NEW DELHI: India’s economic growth is expected to accelerate in the third quarter (October-December 2024) compared to the first half (April-September 2024) of the current financial year, according to a report by ICRA report. The projection is supported by improved economic indicators and strong sectoral performance, with preliminary November 2024
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
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,
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
Gautam Adani indicted in US: Adani Green withdraws $600 million bond offering amid bribery allegations
This marks the second cancellation of an Adani Green bond issuance. Gautam Adani indictment impact: Adani Green Energy Ltd. has called off its $600 million bond offering, which was priced at approximately 7.45-7.5%. This decision follows a U.S. Department of Justice and SEC announcement related to a court order that