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
The families of Jamshyd N Godrej and Smita V Crishna are setting up a family council following the business realignment in April, said people with knowledge of the matter. In addition to this, the Crishna branch will set up a family office comprising Smita Crishna and her daughters Freyan and Nyrika. Nyrika, who is executive … Read more
Tech giant Nvidia is now worth over $3.2 trillion, with its dominance as a chipmaker making it the poster child of the artificial intelligence boom. After the stock’s swift rise on Wall Street it briefly topped Microsoft as the most valuable company in the S&P 500 this week. The company is now worth over $3.2 … Read more
Former President Donald Trump made a surprising departure from his typical anti-immigrant rhetoric by suggesting that foreign students graduating from United States colleges should automatically receive green cards as part of their diplomas. Trump made these comments while speaking in a podcast interview with venture capitalists and tech investors, hosted by David Sacks, that aired … Read more
It started with a cryptic quote from President Xi Jinping buried in a 172-page book on the financial sector. Three months later, plans for potentially the biggest shift in years in how China conducts monetary policy are starting to surface. Pan Gongsheng, governor of the People’s Bank of China, on Wednesday gave the clearest acknowledgment … Read more
British telecom major has sold stake through block deals. It has raised Rs 15,300 from the stake sale Vodafone Plc’s stake in Indus Towers has consequently decreased from 21.5% to 3.1%. Bharti Airtel has also announced acquiring additional 1% stake from market, increasing it’s stake in the Company to around 49%. Proceeds from the sale … Read more
Zurich Insurance has completed acquiring 70% stake in Kotak Mahindra General Insurance (KMGI). KMGI was stablished in 2015 as a fully owned subsidiary of Kotak Mahindra Bank (KMB). KMB held 100% equity of the Rs 875-crore paid up capital of KMGI as of March 2024. The deal, which is the largest foreign investment in India’s … Read more
Kalpataru Constructions Private Limited (KCPL) is the selling entity. The stake has been sold at around Rs 1,164/ share totalling Rs 1,053 cr KCPL prior to this stake sale held 13.76% in the company as at March 31, 2024 (out of the total promoter stake of 40.59%) The stake sale was executed to help cut … Read more