India has initiated an anti-dumping probe into the import of glass fibre from China, Thailand, Bahrain following a complaint by a domestic player. The duty is aimed at protecting the domestic industry from cheap imports. The commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of glass fibres and … Read more
Investment holding companies (IHC) rallied on Friday following the announcement of an alternative framework for their delisting. Shares of Kalyani Investment, Bombay Burmah, and Summit Securities surged between 7 per cent and 11 per cent. The Securities and Exchange Board of India (Sebi) on Thursday announced that with the entire public shareholding being extinguished, the … Read more
The deadly roof collapse at India’s busiest airport is the latest in a string of recent infrastructure disasters in the country, raising safety questions as Prime Minister Narendra Modi spends billions of dollars to improve transportation across the country. Officials at Delhi’s airport canceled operations at Terminal 1 after an outdoor metal canopy collapsed during … Read more
The Directorate General of GST Intelligence (DGGI) has issued new summons to several online gaming companies, including Delta Corp, which runs Adda52, seeking details about cashback offered to players since October 2023, according to sources familiar with the matter. The DGGI’s Gurgaon office is investigating the practice of reimbursing taxed money to players as cashback … Read more
India is poised to formally enter the J.P. Morgan GBI-EM Global Series of indices today. This inclusion, phased over a 10-month period starting this month, will see Indian government bonds (IGBs) holding a 10% weightage, increasing by 1% each month. This move could generate potential inflows of $25-30 billion into the country, making India the … Read more
State Bank of India (SBI), the country’s largest lender, raised Rs 10,000 crore through 15-year infrastructure bonds to fund projects in sectors like power and roads. The coupon rate for the bonds is fixed at 7.36 per cent. The issue was oversubscribed by almost four times the base issue size of Rs 5,000 crore. Earlier, … Read more
There was a time when a Chinese internet company’s initial public offering (IPO) was the hottest thing on Wall Street. As the e-commerce giant Alibaba prepared to go public on the New York Stock Exchange a decade ago, the world’s biggest banks competed fiercely to underwrite the offering. When the opening bell rang on September … Read more
A consensus appears to be emerging among the external members of the Reserve Bank of India’s monetary policy committee that high interest rates are damaging to economic growth, a sign that the debate over the timing of any easing is intensifying. Jayanth Rama Varma and Ashima Goyal voted at the June meeting for a rate … Read more
With Narendra Modi-led National Democratic Alliance voted to power for the third consecutive term, the Adani Group is well-positioned to continue the economic and social programs that have driven “spectacular” journey over the last decade, Gautam Adani said at Adani Enterprises’ Annual General Meeting on Monday. “India is no longer at the crossroads of destiny … Read more