A lobby representing foreign portfolio investors will approach India’s markets regulator seeking a review of recently tightened requirements for beneficial owners of offshore funds, according to two sources. Concerns surfaced over offshore investments in Adani Group companies in January prompting a directive from the Securities and Exchange Board of India (SEBI) to foreign banks that … Read more
The Securities and Exchange Board of India (Sebi) on Thursday barred several social media influencers from the securities market and impounded their unlawful gains, in connection with pump-and-dump schemes in shares of Sharpline Broadcast and Sadhna Broadcast. Arshad Warsi and his wife Maria Goretti Warsi profited ₹29.43 lakh and ₹37.56 lakh respectively from the scheme, … Read more
London-based fintech Revolut posted its first annual profit for the year ending 2021. The neo-bank almost tripled its revenue in 2021 amid a boom in cryptocurrency trading. Despite repeatedly missing reporting deadlines, Revolut could soon cinch a UK banking license. Revolut, the London-based fintech firm, has posted its first annual profit after missing multiple deadlines … Read more
Microsoft co-founder Bill Gates and Reserve Bank of India (RBI) Governor Shaktikanta Das met in Maharashtra’s capital city Mumbai on 28 February. AN official statement by RBI informed that Gates held ‘wide-ranging; discussion with Das on Tuesday. Bill Gates had in his blog “Gates Notes” has recently said that India gives hope for the future … Read more
Regulator Irdai has asked general and standalone health insurers to offer a specific cover for Persons with Disabilities (PWD), persons afflicted with HIV/AIDS, and those with mental illness. In a circular, the Insurance Regulatory and Development Authority of India (Irdai) asked the insurers to determine the price of the product in line with the IRDAI … Read more
Microsoft announced that it is launching its next-generation hybrid cloud platform “Azure Operator Nexus” for communication service providers. The tech giant believes that modern network infrastructure will assist its telecommunications partners to improve and monetise their existing infrastructure while also lowering their overall cost of ownership, reports TechCrunch. Azure Operator Nexus will allow these companies … Read more
Beijing claims to have a neutral stance in the war that began one year ago, but has also said it has a “no limits friendship” with Russia and has refused to criticize Moscow’s invasion of Ukraine, or even refer to it as an invasion. It has accused the West of provoking the conflict and “fanning … Read more
Olectra Greentech in technical partnership with Reliance on Thursday unveiled a Hydrogen Bus, which is a carbon-free alternative to traditional public transportation. Olectra Greentech Ltd (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system to the Indian market, a statement stated. In the wake of the … Read more
In August, as India’s Adani group neared the completion of its $10.5 billion purchase of two cement businesses, the conglomerate and its banks put out some particularly complicated filings. On page 21 of an 85-page document, was a diagram of seven unlisted firms registered in the British Virgin Islands, Mauritius and Dubai. They were interlinked … Read more