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
The Company has entered into a definitive agreement with British Consumer Healthcare player Haleon plc and its associate companies (Haleon) to acquire their consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category, outside the United States. The acquisition has been done through Dr. Reddy’s Laboratories SA, Switzerland, a wholly owned subsidiary of the Company. … 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
Amara Raja has signed the technical licensing agreement with GIB EnergyX Slovakia, a subsidiary of China-based Gotion High-Tech Co. Gotion Hi-tech has a global EV battery market share of 2.2% and is backed by VW. It’s key customers include Geely, Chery, BAIC, Leap Motors, Chana, and VinFast. As a part of the agreement, GIB will … 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