BUSINESS
PM to inaugurate 1st phase of Mumbai-Nagpur Super Expressway on Sunday
The 520 km-long Phase I is part of the total 701 km Super Expressway project linking the state capital Mumbai with Nagpur, passing through 10 districts. Being constructed at a cost of around Rs 55,000 crore, it is among the country's longest greenfield six-lane expressway and will slash the travel time between the two cities from the existing 16 hrs to just eight hrs.
FTX CEO secretly gave $27 mn to crypto news site The Block, its CEO
Bankman-Fried also loaned McCaffery $16 million, some of which helped him purchase property in the Bahamas, where FTX is headquartered, according to Axios. McCaffrey has resigned after "failing to disclose a series of loans from disgraced former FTX head Sam Bankman-Fried's Alameda Research", The Block said late on Friday.
Next Fed rate hike will amplify recession: Musk
"If the Fed raises rates again next week, the recession will be greatly amplified," he said in a tweet. Several users expressed their thoughts on Musk's post. While one user commented: "No one seems to be noticing that the amount of power consolidated solely in Elon's hands is alarming," another said: "That's true, but if the #Fed doesn't raise rates #inflation will be greatly amplified.
Adani Group to have its nominees on NDTV Board
RRPR Holding hold 29.18 per cent stake in NDTV. The appointment will be considered in the next meeting of Board of Directors, scheduled to be held on December 23, NDTV said. With the Adani Group acquiring 99.5 per cent stake in the RRPR Holding, the latter's original promoters Prannoy Roy and Radhika Roy resigned as Directors recently.
Reliance Capital lenders finalise e-auction plan for bidders
The e-auction will begin on December 19, and will be an ascending auction process. The bid price of Rs 5,300 crore quoted by the Cosmea-Piramal consortium will be the base price for the planned auction, and in the round one, the bidders will have to bid Rs 1,000 crore more than this base value of Rs 5,300 crore.
BSNL's total net loss Rs 57,671 crore since inception
As per the Ministry of Communication, the reasons for losses of the BSNL and the MTNL are high employee cost over the years, debt burden, stiff competition in the market, and lack of 4G services (except on a limited basis in certain areas). On October 23, 2019, the government approved the revival plan for BSNL and MTNL.
Ashneer takes on BharatPe Co-founder Nakrani amid Rs 88 cr fraud case
In a tweet, Ashneer Grover said: "Doglapan: Shashvat (Co-Founder) to me. Bhai degree poori karni hai. Ek saal office bunk kar ke IIT poora kar leta hoon. Secondary kara dena aur salary bhi mat rokna - investor ko mat batana (Shashvat told me he has to complete an IIT degree so he wants to bunk office for 1 year to complete it. He asked me not to stop my salary and not inform investors either)."
Ashneer Grover takes a dig at media as BharatPe sues him, family for Rs 88.6 cr fraud
"Come on Press: Ek story kitni baar bechoge! Saal ke shuru mein bhi same - end mein bhi same. Even I am bored with this (How many times are you going to do the same story? It was the same at the beginning of the year, and same now)," Ashneer Grover tweeted in a frustrated tone late on Thursday.
NDB to scale up infrastructure & development finance in India
The $500 million Madhya Pradesh Major District Road Project (MPMDRP), funded $350 million by the NDB and $150 million by the state government, aimed at upgradation of major district roads in the state to improve connectivity in the interior areas of the state with the national and state highway networks, with the wider aim of promoting economic and social transformation.
Indian-origin Sushmita Shukla named First VP of Federal Reserve Bank of New York
As First Vice President, Shukla, 54, will be the institution's second ranking officer. Her appointment was approved by the Board of Governors of the Federal Reserve System, the New York Fed said in a statement on Thursday. "I am honored to have the opportunity to work for a mission-driven organisation like the New York Fed," Shukla said in a statement.
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