BUSINESS
Pakistan’s national airlines runs out of fuel, cancels several international and domestic flights
At present, PIA is operating with a meager fleet of just 16 aircraft. This partial state-owned airline, currently undergoing privatization discussions within the caretaker government, has found itself entangled in a complicated dispute with the Pakistan State Oil (PSO) refinery, its fuel supplier. This predicament arises from the non-payment of dues and the deterioration of its credit line.
Reliance Industries nearing deal to buy Walt Disney’s India ops
The US entertainment giant might sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, Bloomberg reported.
Chevron to buy rival Hess for $53 billion in yet another oil industry consolidation deal
Cash-rich oil giants are taking advantage of high prices and surging profits to snap up assets and boost returns for shareholders even as pressure builds for them to invest more in renewable energy.
IREDA clocks 54% jump in net profit for July-September quarter
Government-owned mini-ratna company, the Indian Renewable Energy Development Agency (IREDA), on Monday announced a 54% jump in net profit to Rs 284.7 crore for the July-September quarter of the current financial year compared to the corresponding figure of Rs 184.3 crore in the same quarter of the previous year.
Gold expected to trend higher amid geopolitical uncertainty
Contrary to the usual trend of gold moving up significantly in the weaker dollar scenario, the safe haven status has assumed significance despite a strong dollar scenario, the report said.
Nifty nosedives to 3-month low; small & mid-caps fall sharply
Nifty nosedived 261 points (-1 per cent) to close at a three-month low of 19,281.75, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
Sensex now down more than 700 points
Metal stocks lead the losses with JSW Steel and Tata Steel down more than 2 per cent.
US oil giant Chevron seals deal to buy Hess for $53 billion
Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share valued at $171 apeice.
Relentless selling across the board pulls Nifty down by 260 pts
The Sensex fell 825.74 points to close at 64,571.88.
India set to continue as world's fastest-growing major economy in FY 2023-24
The finance ministry's September edition of the Monthly Economic Review underscores the significance of the Persian Gulf situation on global markets.
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