BUSINESS
ED Attaches Three Properties Belonging to Hero Motocorp CMD & Chairman Pawan Munjal
The ED announced on Friday that it has attached three immovable properties in Delhi, collectively valued at Rs 24.95 crore, belonging to Munjal. This action has been taken under the Prevention of Money Laundering Act, 2002.
Moody's Predicts Indian Economy to Steal the Spotlight in 2024-25 amid G20 slowdown
Emerging market countries showcase diverse economic strengths, with India, Brazil, Mexico, and Indonesia surpassing expectations. Conversely, the outlooks for Turkey and Argentina remain highly uncertain, according to the report.
S&P Believes Government's New Poll-Driven Schemes Won't Affect India's Fiscal Deficit
However, a recent report from S&P suggests that these initiatives are unlikely to have a significant impact on the country's fiscal deficit target.
Sunil Mittal's Uganda IPO Faces Setback as Investors Favor Bonds, Report Suggests
Airtel reported that it raised 211.4 billion shillings ($56 million) by selling just 54.5% of the 8 billion shares on offer. Retail investors accounted for only 0.3% of the IPO, and on its debut, the company's shares remained unchanged at 100 shillings, as reported by Bloomberg.
"US Partners with Adani Group to Construct Terminal at Colombo Port"
The U.S. International Development Finance Corporation (DFC) made the announcement of its $553 million financing for the Colombo West International Terminal Private Limited (CWITP), marking Sri Lanka's most significant foreign direct investment, totaling $750 million for the port's development.
Xpressbees, the Logistics Unicorn, Secures $80 Million Investment from Teachers’ Venture Growth
The infusion of capital serves a dual purpose for Xpressbees. Firstly, it will be instrumental in accelerating the growth trajectory of the Xpressbees platform, underlining the company's commitment to expanding its reach and offerings.
WeWork Files for Bankruptcy In US And Canada, India Operations Not Affected
WeWork, along with some of its associated entities, sought protection under Chapter 11 of the US Bankruptcy Code, signalling the gravity of its financial troubles. Notably, this filing pertains solely to WeWork's operations in the US and Canada, sparing its locations outside of these regions from this process.
RBI fixes interest for Govt floating rate bond at 7.14%
The rate of interest on FRB 2024 is reset at the average rate (rounded off to two decimal places) of the implicit yields at the cut-off prices of the last three auctions of Government of India 182-days Treasury Bills held up to the period preceding the coupon reset date, which is November 7, 2023.
Fitch Upgrades India's GDP Growth Outlook, Downgrades China's
Fitch has also lowered its estimate for the growth of 10 emerging economies to 4 percent from the earlier estimate of 4.3 percent. These adjustments in growth forecasts reflect changing economic conditions and outlooks in the respective countries.
Nifty Records the Most Significant Month-on-Month Decline in 2023 during October
Several factors contributed to this volatility, including the Israel-Palestine conflict and sharp FII outflows in the last two months, although these outflows were offset by stronger DII inflows.
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