Articles for category: Business

Market News

ByteDance Seeks .5 Billion Loan Amid Evolving Global Ambitions

ByteDance Seeks $9.5 Billion Loan Amid Evolving Global Ambitions

ByteDance, the Chinese company behind TikTok, is seeking a $9.5 billion loan, marking the largest dollar loan for a corporation in Asia outside of Japan. Major banks like Citigroup, Goldman Sachs, and JPMorgan are coordinating this effort, which is set for three years with an option to extend. The loan will help refinance a previous ...

Market News

India’s Semiconductor Revolution: Kaynes Technology’s Mega Plant Sparks Innovation in Gujarat

India’s Semiconductor Revolution: Kaynes Technology’s Mega Plant Sparks Innovation in Gujarat

The Union Cabinet has approved Kaynes Technology’s new semiconductor facility in Sanand, Gujarat, marking India’s fifth under the Semiconductor Mission. With an investment of Rs 3,307 crore, this plant will produce 6.3 million chips daily and cover 46 acres. Union Minister Ashwini Vaishnaw highlighted that most chips will be used in power equipment for trains, ...

Market News

Regulator Warns: Stop SME Listings Amid Fraud Concerns and Market Frenzy

Regulator Warns: Stop SME Listings Amid Fraud Concerns and Market Frenzy

Ashwani Bhatia, a key member of the Securities and Exchange Board of India (Sebi), emphasized the need for exchanges to be cautious about listing small and medium enterprises (SMEs) due to rising fraud risks. As the Market capitalization of SMEs has hit Rs 2 trillion, Bhatia raised concerns about inadequate due diligence from auditors and ...

Market News

Adani Power Battles Himachal Pradesh for Rs 280 Crore Hydropower Refund

Adani Power Battles Himachal Pradesh for Rs 280 Crore Hydropower Refund

Adani Power Limited has approached the Supreme Court to challenge a recent decision by the Himachal Pradesh High Court regarding a refund of Rs 280 crore linked to two hydropower projects in Kinnaur district. The Supreme Court has requested a response from the Himachal government on this matter. In July, the High Court overturned a ...

Market News

RBI’s Bold Measures: Protecting Financial Integrity Amidst Industry Criticism

RBI’s Bold Measures: Protecting Financial Integrity Amidst Industry Criticism

The Reserve Bank of India’s Deputy Governor, Swaminathan J, emphasized that the central bank’s recent strict actions against certain financial institutions are aimed at maintaining the stability and integrity of the financial system, not to disrupt business. He addressed concerns about the regulator’s perceived eagerness to impose restrictions, clarifying that these measures are taken only ...

Market News

BJP’s Strategic Moves Amidst Controversies Ahead of Crucial Elections

BJP’s Strategic Moves Amidst Controversies Ahead of Crucial Elections

Prime Minister Narendra Modi and BJP President JP Nadda held a key meeting in New Delhi on August 29, 2024, ahead of upcoming assembly elections. In recent news, the Indian Cabinet approved several significant agricultural initiatives, including a Rs 3,979-crore scheme for crop science and a Rs 2,291-crore program to enhance agricultural education and management. ...

Market News

Adani Wilmar Eyes Expansion:  Billion Acquisition Drive in FMCG Sector

Adani Wilmar Eyes Expansion: $1 Billion Acquisition Drive in FMCG Sector

Adani Wilmar is set to enhance its presence in India’s packaged consumer goods Market with plans to acquire three food companies, backed by a $1 billion acquisition fund. This strategy focuses on brands that specialize in spices, ready-to-cook foods, and packaged edibles, aiming to increase revenue from consumer sectors to 25-30%. The company has already ...

Market News

Maruti Suzuki Cuts Prices Amid Sales Decline of Mini Cars

Maruti Suzuki Cuts Prices Amid Sales Decline of Mini Cars

Maruti Suzuki India Limited (MSIL) has announced price cuts for specific variants of its popular mini cars, the Alto K10 and S-Presso, in response to declining sales. Effective from September 2, the prices have been reduced by up to Rs 6,500. In August, the company sold only 10,648 units of these models, marking a 12.8% ...

Market News

Sebi Chief Accused of Salary Duplicity Amidst Rising Controversy

Sebi Chief Accused of Salary Duplicity Amidst Rising Controversy

The Congress party has raised serious allegations against Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (Sebi). They claim she continued to draw a salary from her previous employer, ICICI Bank, while serving at Sebi. Congress leader Pawan Khera pointed out that Buch earned nearly Rs 16 crore from ICICI, ...

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