BUSINESS
Rs 936 cr related to crypto currency attached or seized by ED: Government
Besides, five persons have been arrested and six prosecution complaints (PCs) including one supplementary PC have been filed before the Special Court, PMLA in these cases, he stsated. Chaudhary in a written reply to a question in Lok Sabha on Monday said that crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage.
Vedanta appoints chip industry veteran David Reed as CEO of new biz
David Reed will be responsible for setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit, the company said in a statement. Reed was formerly with NXP Semiconductors, where he was Executive Vice President and General Manager of global operations.
Renault, Nissan shake up 24-year-old alliance
The announcement comes after months of negotiations between the motor industry giants. In a joint statement, the two firms said they had "rebalanced" their relationship by agreeing that Renault would cut its stake in Nissan, the BBC reported. Under the deal, Nissan will take a stake in Renault's flagship electric car unit Ampere.
BYJU's to miss March 2023 deadline for group level profitability, results delayed again
In October after firing 2,500 employees and consolidating its business in the country, Mrinal Mohit, CEO, BYJU'S India business, had said that "these measures will help us achieve profitability in the defined time frame of March 2023". At a group level, BYJU's had said its top priority is to achieve "overall profitability by March 2023".
Industrial & Logistics sector leasing grew 8% YoY: Report
"This is the second-highest leasing activity recorded in the I&L sector after the 2019 peak of 32 million sq. ft.," the report released by CBRE South Asia said.As per the report, Delhi-NCR led the absorption with 7.3 million sq. ft., followed by Mumbai and Bengaluru with 6.1 million sq. ft. and 5.2 million sq. ft. in 2022, respectively.
Also, Delhi-NCR, Mumbai and Bengaluru accounted for almost 60 per cent.
India's share in global oil demand expected to rise to 11%, gas to 500%: PM
He underlined that new opportunities for investment and collaboration are being created by the expanding energy sector of India. He said this in his address while inaugurating the India Energy Week. Quoting the International Energy Association, the prime minister remarked that India's energy demands will be highest in the present decade.
Exposure to top 10 borrowers from Scheduled Commercial Banks is Rs 12,71,604 cr
A large part of this exposure is from Public Sector Banks amounting to Rs 8,10,941 crore and from Private Sector Banks it is Rs 3,70,973 crore. As per inputs received from the RBI, in order to protect banks from risk, it has implemented large exposure framework which limits the exposures that a bank can take to a single counterparty.
Capital amounting Rs 2,76,043 crore infused in PSBs since FY2017-18
According to information provided by the Union Ministry of Finance in a written reply in Lok Sabha on Monday, capital is infused by the Centre in PSBs from time to time to supplement their efforts to meet capital requirement. As per Reserve Bank of India (RBI) guidelines and policy approved by banks' boards, non-performing assets (NPAs), including, those in respect of which full provisioning has been made on completion of four years.
Paytm's sooner than promised profitability impresses analysts, Brokerages issue Buy calls
Global firms such as Goldman Sachs, Bank of America, CLSA and Citic have raised their price target on Paytm by up to 119 per cent. Citi, CLSA, and Goldman Sachs have recommended to buy the share post Q3FY23 earnings, while BofA maintained its 'neutral' rating. Goldman believes that Paytm's current share price continues to offer a compelling entry point into India's largest fintech platforms.
Vistara adds Airbus A321LR to its fleet, focuses on International expansion
The long-range variant of the Airbus A320neo (which is part of the order of 50 aircraft from the Airbus A320 Family placed in 2018) arrived in Delhi on February 4, 2023 from Airbus' production facility in Hamburg, Germany. With an increased maximum take-off weight of 97 tonnes and the third auxiliary center fuel tank, enabling the aircraft to cover longer range.
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