The Competition Commission of India on Tuesday approved US-based private equity firm Blackstone’s proposal to acquire up to 9.99 per cent stake in Federal Bank through warrants, clearing the way for the global investor’s entry into the private sector lender.In a release, the fair trade regulator said the proposed transaction involves Asia II Topco XIII…
The Reserve Bank of India on Tuesday announced a fresh liquidity infusion, unveiling plans to purchase government securities worth Rs 2 lakh crore and conduct a $10 billion dollar-rupee swap auction to ease conditions in the banking system.The central bank said the open market operations (OMO) purchases and the USD/INR buy-sell swap auctions will be…
US consumer confidence weakened in December, sliding to its lowest level since President Donald Trump rolled out sweeping tariffs earlier this year, as households grew more anxious about high prices, trade levies and job prospects, according to a survey by the Conference Board.The Conference Board said its consumer confidence index fell 3.8 points to 89.1…
US stocks were largely steady near record levels in early trade on Tuesday after government data showed the American economy expanded at a stronger-than-expected pace in the third quarter, pushing Treasury yields higher even as equity moves stayed muted in holiday-thinned trading. The S&P 500 hovered close to its all-time high set earlier this month,…
The US economy grew at a faster-than-expected annual rate of 4.3% in the July–September quarter, driven by stronger consumer spending, exports and government outlays, even as inflation remained above the Federal Reserve’s comfort level, according to official data released on Tuesday, AP reported.Gross domestic product (GDP), which measures the total value of goods and services…
China has escalated trade tensions with India by launching a dispute at the World Trade Organization (WTO) over New Delhi’s policies covering solar cells, solar modules and information technology goods, seeking formal consultations under the global trade body’s dispute settlement mechanism, Reuters reported.The WTO said on Tuesday that China has requested dispute consultations with India,…
OYO’s parent company PRISM has secured shareholder approval to raise up to Rs 6,650 crore through a fresh issue of equity shares as part of its proposed initial public offering, signalling steady progress towards a public market debut, according to PTI.The approval was granted at an extraordinary general meeting held on December 20, where shareholders…
Ambuja Cements has moved to consolidate the Adani Group’s cement assets by approving schemes to merge ACC and Orient Cement into itself, creating a single listed platform aimed at sharper operating leverage and cost synergies.The transaction is entirely share-based, with no cash payout. ACC shareholders will receive 328 Ambuja shares of face value Rs 2…
Noida International Airport (NIA) has tied up with IT services firm Tech Mahindra to establish and operate an integrated Network and Security Operations Centre (NOC-SOC), placing cybersecurity and digital resilience at the core of the airport’s operations from the outset, PTI reported.Under the partnership, Tech Mahindra will deliver 24×7 monitoring and management of network and…
South Korea’s Hyosung Heavy signs USD 82 million deal for UK wind project Hyosung Heavy Industries secured a contract worth 120 billion won, or approximately $82 million, to supply ultra-high-voltage transformers to the United Kingdom. This deal with SP Energy Networks, a division of ScottishPower, aims to support a significant wind power project as Britain…