BUSINESS
Porsche shares rise on first trading day in largest European listing for a decade
The German carmaker Volkswagen listed 12.5 per cent of Porsche's shares to raise the billions of euros needed to invest in electric cars -- as well as hoping the sports car company would be able to match its Italian rival Ferrari, which has been able to attract a valuation more typical of luxury fashion brands, The Guardian reported.
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India
The proposed combination involves the acquisition of power assets namely Essar Power Hazira Ltd and Gandhar Hazira Transmission Ltd, port assets like Hazira Cargo Terminals Ltd, Ibrox Aviation & Trading Private Ltd, Essar Bulk Terminal Ltd, Essar Bulk Terminal Paradip Ltd and Essar Vizag Terminals Ltd, as well as other assets.
Competition Commission approves Adani Power's acquisition of Diliigent Power, DB Power
A public listed company incorporated in India with its shares listed on BSE Ltd as well as the National Stock Exchange of India Ltd, Adani Power has eight operational power plants in India. It has power generation capacity of 13,650 mw comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a 40 mw solar power project in Gujarat.
Government to borrow Rs 5.92 lakh crore in second half of current fiscal
The full-year borrowing target was brought down to Rs 14.21 lakh crore from the original Rs 14.31 lakh crore which was mentioned in the Union Budget for 2022-23. The borrowing plan for the second half of the current fiscal includes raising Rs 16,000 crore through issuance of sovereign green bonds (SGrBs) as per the announcement made in the Union Budget 2022-23.
India's external debt rises 7% to $617 bn in June 2022
US dollar-denominated debt remained the largest component of India's external debt, with a share of 54.7 per cent at end-June 2022, followed by debt denominated in the Indian rupee (30.4 per cent), SDR or special drawing rights (6.3 per cent), yen (5.1 per cent), and euro (2.8 per cent).
RBI likely to raise policy rate by 35-50 basis points
In a report Emkay Global Financial Services said: "Clearly, central bankers globally are confronting the classic 'trilemma' of international finance: one cannot have a stable currency, unfettered capital flows, and independent monetary policy all at the same time."
Adani Enterprises achieves financial closure for India's largest greenfield expressway project
"The State Bank of India has underwritten the entire debt requirement of INR 10,238 Crore for the Ganga Expressway Projects (BHRPL, HURPL & UPRPL). With this facility from the SBI, we have moved a step closer to providing our country and the state of UP with another landmark infrastructure," said K.P. Maheshwari.
Centre authorises SBI to issue electoral bonds between Oct 1-10
This would be the 22nd phase of sale of electoral bonds, according to a statement issued by the Union Finance Ministry on Thursday. The government had notified the Electoral Bond Scheme 2018 on January 2, 2018. These can be purchased by a person who is a citizen of India or incorporated or established in India.
Swedish economy will shrink in 2023: Govt agency
The gross domestic product (GDP) per capita is expected to decrease by 0.7 per cent in 2023, the Swedish National Institute of Economic Research (NIER) said in a report. "High inflation and rising mortgage interest rates erode the purchasing power of households, and they have a gloomy view of the future," Xinhua news agency quoted the report as saying.
TRP scam spooks again: ED books 16 for money laundering; 'exonerates' Republic TV
The ED charge sheet was filed on September 26 on behalf of Assistant Director Pawan Kumar before the Special PMLA Court Mumbai, and has sought initiation of proceedings, among others, to confiscate the provisionally attached properties of all the accused as stipulated under the Prevention of Money Laundering Act, as they were bought from the proceeds of the crime.
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