BUSINESS
India's Industrial Production Surges by 5.8% in September
The manufacturing sector, crucial for generating employment opportunities for recent engineering and college graduates, exhibited a more moderate growth of 4.5 percent.
Arrest Warrants for Nirav Modi and Kin Not Executed Since 2018; Court Decrees Separate Trial
Nirav Modi is currently facing extradition proceedings in the United Kingdom, while Neeshal Modi holds Belgian citizenship.
October Records Third Highest Monthly Influx into Equity Funds
Contributing to this influx, small- and mid-cap categories saw substantial contributions of about Rs 7,000 crore,
RBI Permits Non-Resident Indians (NRIs) to Invest in Sovereign Green Bonds
“It has now been decided to designate all Sovereign Green Bonds issued by the government in the fiscal year 2023-24 as ‘specified securities’ under the FAR (fully accessible route),” the RBI circular states.
ED Attaches Three Properties Belonging to Hero Motocorp CMD & Chairman Pawan Munjal
The ED announced on Friday that it has attached three immovable properties in Delhi, collectively valued at Rs 24.95 crore, belonging to Munjal. This action has been taken under the Prevention of Money Laundering Act, 2002.
Moody's Predicts Indian Economy to Steal the Spotlight in 2024-25 amid G20 slowdown
Emerging market countries showcase diverse economic strengths, with India, Brazil, Mexico, and Indonesia surpassing expectations. Conversely, the outlooks for Turkey and Argentina remain highly uncertain, according to the report.
S&P Believes Government's New Poll-Driven Schemes Won't Affect India's Fiscal Deficit
However, a recent report from S&P suggests that these initiatives are unlikely to have a significant impact on the country's fiscal deficit target.
Sunil Mittal's Uganda IPO Faces Setback as Investors Favor Bonds, Report Suggests
Airtel reported that it raised 211.4 billion shillings ($56 million) by selling just 54.5% of the 8 billion shares on offer. Retail investors accounted for only 0.3% of the IPO, and on its debut, the company's shares remained unchanged at 100 shillings, as reported by Bloomberg.
"US Partners with Adani Group to Construct Terminal at Colombo Port"
The U.S. International Development Finance Corporation (DFC) made the announcement of its $553 million financing for the Colombo West International Terminal Private Limited (CWITP), marking Sri Lanka's most significant foreign direct investment, totaling $750 million for the port's development.
Xpressbees, the Logistics Unicorn, Secures $80 Million Investment from Teachers’ Venture Growth
The infusion of capital serves a dual purpose for Xpressbees. Firstly, it will be instrumental in accelerating the growth trajectory of the Xpressbees platform, underlining the company's commitment to expanding its reach and offerings.
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