BUSINESS
Pandora Papers allegations: Kiran Mazumdar-Shaw says grossly misrepresented facts
"Sharing my Notification to Stock Exchange with facts on my husband John Shaw's offshore trust. Both John and I are law-abiding citizens and have always been in compliance with all the applicable regulations," she said. The notification has been issued to the Secretary, BSE limited and the Secretary, National Stock Exchange of India Limited on September 4.
OPEC supply restraint, hardening oil prices see oil cos shares flying
At around 11.20 a.m., shares of the Oil and Natural Gas Corporation (ONGC) jumped 7.22 per cent to Rs 158.25 on the BSE while that of Oil India Ltd (OIL) gained 1.92 per cent to reach Rs 246.30. Indian Oil Corporation shares were up 2.89 per cent to Rs 129.90 while privatisation- bound Bharat Petroleum Corporation shares also witnessed a jump rising 1.09 per cent to Rs 440.45. Hindustan Petroleum Corporation also saw its shares rising 1.77 per cent to Rs 307.90.
Markets open on a negative note
The Sensex of the BSE opened at 59,320.14 which was also the high point. The Sensex touched a low of 59,127.04 points. On Monday the Sensex closed at 59,299.32 points. The Sensex is trading at 59,243.22 down by 56.1 points or 0.09 per cent.
Petrol, diesel prices rise again amid volatility in oil market
Accordingly, diesel prices increased by 30 paisa per litre in the national capital to Rs 91.07 per litre, while petrol rates rose by 25 paisa per litre to Rs 102.64 a litre, according to Indian Oil Corporation, the country's largest fuel retailer. Diesel prices have now increased on nine out of the last 12 days taking up its retail price by Rs 2.45 per litre in Delhi.
Mark Zuckerberg loses $7 billion after massive global outage of his social media sites, apologizes for disruption
The markets around the world reacted negatively as the shares of Facebook plummeted costing CEO Mark Zuckerberg $7 billion from his wealth. This resulted in Mark’s fall to 5th position in the global rich list with a net worth of $121.6 billion. Mark previously ranked 3rd on Bloomberg Richest index.
ED arrests Unitech founder Ramesh Chandra, daughter-in-law for financial frauds
Lookout circular was issued against her Preeti Chandra, the wife of Sanjay Chandra, Unitech promoter and son of Ramesh Chandra. Sanjay Chandra himself is behind bars on charges of money laundering. Preeti Chandra has got the citizenship of Dominica and it is alleged that she was stashing money outside India.
Cases pertaining to 'Pandora Papers' to be investigated: Govt
A finance ministry statement said that the government has taken note of these developments and the relevant investigative agencies would now undertake investigation in these cases and appropriate action would be taken in such cases as per law. With a view to ensure effective investigation in these cases, the Government will also proactively engage with foreign jurisdictions for obtaining information in respect of relevant taxpayers/entities
Global airlines' net losses expected at $11.6 bn in 2022: IATA
"The magnitude of the Covid-19 crisis for airlines is enormous. Over the 2020-2022 period, total losses could top $200 billion. To survive, the airlines have dramatically cut costs and adapted their business to whatever opportunities were available," said IATA's Director General, Willie Walsh. According to IATA, domestic travel demand will near pre-crisis levels in 2022.
SEBI mandates exchanges to make monthly disclosure of complaints against them
In a circular, the market regulator has said that such disclosures will have to be made by 7th of the succeeding month in proper format that has been circulated to the exchanges. These disclosure requirements are in addition to those already mandated by SEBI. The provisions of the current circular will come into effect from January 1, 2022, the circular said.
SEBI bars TV anchor, market expert, others for fraudulent and unfair trades
It also issued directions for impounding gains of Rs 8.4 crore made by the operators in their fraudulent deals. "There is a repeated pattern of such fraudulent and unfair trading activity being carried out by these entities," Sebi whole-time member Madhabi Puri Buch said in an interim order. "The directions are preventive in nature as Pandya has the potential, in view his association with the media channels, to possibly be part of other shows/channels/media giving recommendations/contributing to any activities related to the securities market. Pandya and Alpesh Furiya have also appeared on a show hosted by the spouse of Pandya," the order said.
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