BUSINESS
BYJU’s looks to sell Great Learning, Epic subsidiaries to raise up to $1 bn
BYJU'S is looking to raise up to $400 million-$500 million from US-based kids’ learning platform Epic it acquired in May 2022 for about $500 million, according to people familiar with the matter.
India-Middle East- Europe economic corridor to be more significant than Silk Route, says Saudi minister
"People talk about the Silk Route and the Spice Route of India through the Arabian Peninsula, however the economic corridor will be historical," the Saudi Arabian Investment Minister Khalid bin Abdulaziz Al-Falih said while speaking to reporters on the sidelines of the Saudi-India Investment Forum.
India, Saudi Arabia agree to enhance bilateral trade
A joint statement issued during the state visit of Saudi Arabian Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud to India on September 11, said that while praising the growth achieved in trade between the two friendly countries, both sides stressed the importance of continuing joint work to enhance and diversify bilateral trade.
EU economy to grow slower than expected: Commission
"While (the EU) avoided a recession last winter, the multiple headwinds facing the EU economy this year have led to somewhat weaker growth momentum than we projected in the spring," Paolo Gentiloni, European commissioner for economy, said on Monday as he presented the EU's "Summer 2023 Economic Forecast".
Jet airways founder Naresh Goyal’s ED remand extended till Sep 14
Goyal, 74, was produced before the court on Monday after his 10-day remand ended and the ED sought a four-day extension of custodial interrogation as he was not cooperating with the investigations. The ED is probing an alleged money-laundering case against Goyal, his wife Anita and other officials arising out of the Rs 538-crore loan fraud case involving the public sector, Canara Bank.
Adani Group market cap rises to a seven-month high; adds a whopping Rs 47,050 crore on Monday
Adani Group’s market capitalisation shot up to INR 11.5 trillion on Monday, a seven-month high. On Friday’s close, the group’s market capitalisation stood at Rs 11.02 trillion. The move has come after the promoters’ increased stakes in the two leading companies—the flagship incubator, Adani Enterprises Limited (AEL) and Adani Ports and Special Economic Zone (APSEZ).
India, UK announce Infrastructure Financing Bridge
A joint statement issued by Finance Minister Nirmala Sitharaman and UK's Chancellor of the Exchequer Jeremy Hunt after the EFD, said that the UK has a lot to offer in the area of financial and project management. India's remarkable stature as an investment powerhouse in technology, fintech, and green transition underscores its pivotal role in driving global economic growth, it added.
Investment firm KKR to invest Rs 2,069cr in Reliance Retail Ventures at equity value of Rs 8.36L cr
KKR’s follow-on investment will translate into an additional equity stake of 0.25 per cent in RRVL on a fully-diluted basis. This, combined with its stake from its investment of Rs 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42 per cent on a fully-diluted basis.
Elon Musk was 'super mean' to me: Bill Gates on shorting Tesla stock worth $1.5 bn
The meeting happened at Musk's Texas plant where the SpaceX owner confronted Gates over the decision to short Tesla stock. Musk said in April 2022 that Gates had taken a half-billion dollar short position against Tesla. Gates apologised for the move but Musk was still upset and became "super mean" to the Microsoft founder.
Nifty covered 1000-point journey from 19K to 20K in 52 trading sessions
Recently, large caps seemed to have taken a pause while rally was seen in the broader market. But now large caps too have slowly started participating and thus going ahead we can expect the up-move to be led by both large caps and mid-small caps, Siddhartha Khemka said.
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