CATEGORIES

Atria, Gaw Cap talks fall through

Bengaluru-based Atria Power, which operates several wind, hydro and solar power projects in India, is in early talks with both financial and strategic suitors, after its discussions with Hong Kong's asset manager Gaw Capital partners fell through recently, at least two people aware of the development told VCCircle.

Micron resolves IP theft lawsuit

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company's efforts to mend ties with Beijing.

Users to take a hit as gaming cos navigate GST challenges

Firms are working on new monetization models that are likely to be rolled out by FY24-end

Spain eyes high-level India visit to focus on defence ties, migration deals

Spain is pushing for a high level visit from its Prime Minister to India in 2024 according to people aware of the matter. The focus of both countries will be on deepening defence ties and inking migration and mobility agreements. The move comes after Spain’s Prime Minister Pedro Sanchez missed the G20 Leaders Summit in Delhi in September due to a positive covid diagnosis.

Navy investigating merchant ship attack

The Indian Navy has launched an investigation into a suspected drone strike on a Mangalorebound cargo vessel off India's west coast in the Arabian sea even as the merchant ship is on its way to Mumbai, officials familiar with the matter said on Sunday.

Basmati export price may rise due to Red Sea unrest

However, demand is not expected to be affected unless the unrest persists for extended period

Yi He, the crypto queen pulling the strings at Binance

U.S.authorities toppled the king of crypto. But the queen is still standing.

Centre, Deloitte studying impact of GST on power

As the government looks to bring electricity under goods and services tax (GST), the Union power ministry is looking at its likely impact on the industry, states’ revenue and household electricity bills. Electricity is one of several commodities like petrol, diesel and natural gas that have so far remained out of the purview of GST.

Tata Steel to double long products play in infra bet

Tata Steel Ltd is looking to capture India’s infrastructure boom by doubling the manufacturing of long steel products used in construction over the next six years, a top company executive said. Currently, three-fourth of its capacity is in flat steel, used in automobiles and consumer goods.

Price stabilization fund may get 1,500 cr each in next 2 budgets

The price stabilization fund (PSF), established to build buffer stocks of farm commodities to help contain sudden rise in food prices, may get additional allocations in the 2024-25 and 2025-26 budgets of ₹1,500 crore each. The department of consumer affairs (DoCA) has placed a proposal for the allocations before the expenditure finance committee (EFC), government officials aware of the matter said.

Railways to invest 37 tn to lay tracks in next 10 yrs

The Indian Railways will invest at least ₹7 trillion over the next decade to lay a record 50,000 kilometres (km) of new train tracks to modernize its network and boost train speeds, a top railway ministry official said.

Byju's lenders in US chasing $533 mn meet Camshaft wall

Byju’s has shifted the ownership of half a billion dollars that its special purpose vehicle Alpha borrowed in the US to one of its unnamed subsidiaries, a move that has stumped its US lenders trying to retrieve their money.

Derivatives see FPI, retail in tug-of-war

Retail has had greater success with their recent bets than FPIS

FPIs' monthly investments hit 3-vr high in Dec

Foreign portfolio investor (FPI) inflows in December hit the highest in any month in the past three years, signalling the rising heft of the Indian stock market among global peers. With four more trading sessions left in the year, December 2023 could potentially set a monthly record for FPI buying.

Sanjiv Aggarwal to take charge at NIIF, likely to join early 2024

India’s government-backed quasi-sovereign wealth fund for infrastructure investments is now ready to welcome its new honcho.

NFRA flags gaps in statutory audits done by top audit firms

India’s audit regulator on Friday pointed to gaps and inadequacies in procedures followed and documentation of statutory audits done by top audit firms. The National Financial Reporting Authority (NFRA) issued its report after inspections at BSR & Co. LLP, Price Waterhouse Chartered Accountants LLP, Deloitte Haskins & Sells LLP, and SRBC & Co. LLP.

Food price spikes may return: MPC

The Reserve Bank of India’s rate-setting committee expressed concerns about a possible resurgence in food inflation ahead, minutes of the panel’s 6-8 December meeting showed. The unease prompted the Monetary Policy Committee’s (MPC) six members to keep interest rates steady in a unanimous decision.

Govt asks PSBs to review top IBC cases every month

The government has directed heads of public sector banks (PSBs) to conduct monthly reviews of the top 20 cases awaiting bankruptcy courts at each of them, financial services secretary Vivek Joshi said on Friday.

Sebi pitches instant equity settlements

The framework will be offered as an option to existing T+1

Elon Musk slams US financial markets

Elon Musk is lashing out at the state of US financial markets.

Tencent leads $80 billion China selloff

Tencent Holdings Ltd led an $80 billion selloff in some of China's biggest online names, after the surprise imposition of new gaming curbs revived fears Beijing may again be targeting the country's giant internet sector.

Swan Energy to prepay FSRU debt

Spre wan Energy Ltd plans to prepay ₹300 crore in debt for the Floating Storage and Regasification Unit (FSRU) project at Jafarabad, Gujarat, people aware of the development told Mint.

Festivities in the West fail to lift India's textile exports

The mainstay of the textile export portfolio-ready-made garments-showed a 15% decline

Bribery claim probe in toxic syrup case nearing end

India is close to finishing an investigation into a \"comprehensive and exhaustive\" complaint that a state drug regulator, in return for a bribe, helped switch samples of cough syrups linked to the deaths of children in Gambia before the samples were tested in India, the investigator told Reuters.

Zomato Live seeks to ride post-covid events wave

Zomato Live Entertainment, the events vertical of food delivery platform Zomato, is set to expand its reach by venturing into new cities and developing fresh intellectual properties (IPs).

Bribery claim probe in toxic syrup case nearing end

India is close to finishing an investigation into a \"comprehensive and exhaustive\" complaint that a state drug regulator, in return for a bribe, helped switch samples of cough syrups linked to the deaths of children in Gambia before the samples were tested in India, the investigator told Reuters.

'Covid sweep may subside in 2 months like Omicron wave'

Covid-19 task force member says it's hard to say JN.1 is causing hospitalization and deaths

Air India set to induct first of long-haul A350s today

Airbus A350-900 aircraft expected to provide AI competitive edge in the long-haul segment

A novel of and the ethics of art digressions

Teju Cole's first novel in 12 years, 'Tremor' is preoccupied with ethical questions about art, and the murky ethics of art galleries and museums

A rare golden Ramayan from Varanasi goes on show

Featuring five schools of art, the 'Kanchana Chitra Ramayana' or Golden Illustrated Ramayana, is a work of unusual beauty