BUSINESS
Palika Bazaar, Heera Panna, Tank Road on US notorious markets list
For India's physical markets, the USTR has listed markets in Mumbai, Delhi and Kolkata. A major indoor market located at the heart of Mumbai, Heera Panna reportedly offers counterfeit watches, footwear, accessories, and cosmetics. Right holders warn that counterfeit cosmetics sold at this market have health and safety risks.
Equities erase early losses, rise marginally in afternoon trade
"The roller coaster ride in the market will continue till some clarity emerges on the Ukraine issue. The de-escalation in tensions which the market immediately discounted with a sharp up move has now been replaced with re-escalation of tensions on the Ukraine-Russia border and the consequent sharp market down move," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
US adds Alibaba, Tencent to list of businesses that trade counterfeit goods
The list identifies 42 online sites and 35 physical stores, including e-commerce platforms, run by the firms. The US trade agency says they "engage in or facilitate substantial trademark counterfeiting or copyright privacy". The US and China are in a long-running dispute over trade and technology. "The global trade in counterfeit and pirated goods undermines critical US innovation and creativity and harms American workers," USTR Katherine Tai said.
ED attaches illegal assets worth Rs 25 crore of PPGD Sankar
The Enforcement Directorate (ED) on Friday said that they have provisionally attached benami immovable properties worth Rs 25 crore belonging to the PPGD Sankar against whom 15 FIRs and three charge sheets have been filed by the Tamil Nadu Police in connection with a Prevention of Money Laundering case (PMLA)
Adani Group all set to acquire new 'space' for Thiruvananthapuram airport
According to a source, discussions have reached the closing stages and the deal is all set to be inked in taking over the building, which is presently a functional one. Incidentally, the Adani Group is already engaged in building the Vizhinjam Port, which is located about 15 kms from the airport.
Newsmen Explainer | The fall and fall of ex NSE CEO Chitra Ramakrishna
Chitra Ramakrishna, the former Managing Director and Chief Executive Officer (CEO) of the National Stock Exchange (NSE), was once one of the most celebrated icons of the Indian stock market. But Ms. Ramakrishna has fallen from grace ever since she resigned from the NSE board over allegations of financial misconduct in 2016. Here’s an explainer detailing the rise and fall of Chitra Ramakrishna.
China expresses concern over India's decision to ban its apps, asks New Delhi to ensure ‘non-discriminatory’ policies for foreign investors
“…relevant Indian authorities have taken a series of measures to suppress Chinese companies and their products in India, which have seriously damaged the legitimate rights and interests of Chinese companies… China expressed serious concern about this,” Commerce Ministry spokesperson Gao Feng said. He also expressed concerns about the investment regime in India.
CBI likely to summon ex-NSE CEO Chitra Ramakrishna
She has been accused of leaking classified information to one Yogi, who lives in the Himalayas. It has been learnt that this Yogi was Subramanian, who was brought to the NSE by Ramakrishna. He had access to the email ID on which the emails were sent. On Thursday, the Income Tax Department had conducted raids at her house in Mumbai and in Chennai. Sources have said that incriminating documents were recovered during the raid.
Fintech platform Propelld raises $35 mn to boost education finance biz
Currently employing around 150, Propelld plans to add another 100-150 employees over the next year across technology, business development and collections. The startup was founded in 2017 by IIT Madras trio of Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray, Propelld has tie-ups with over 550 educational institutes and is currently clocking an annual loan disbursal run rate of Rs 600 crore, it said in a statement.
India set for stronger tech, media & telecom IPOs as China falters
While new regulations have severely hit China in the global tech, media & telecom (TMT) IPO market, the Indian TMT IPO pipeline is getting stronger and will continue to gain prominence this year, a new report showed on Friday. Between 2018 and 2020, there were 15 TMT IPOs in India. Last year alone, 15 Indian TMT companies went public and raised a total proceeds of $4.8 billion, reveals data and analytics company GlobalData.
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