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The Adani Group has announced its exit from the FMCG joint venture Adani Wilmar by selling its entire stake to its Singaporean partner Wilmar International and through the open market. The deal, valued at over $2 billion, marks the group’s first significant transaction following a US bribery indictment against its executives. Adani Enterprises Ltd (AEL), […]
Adani Ports and Special Economic Zone Ltd (APSEZ) has announced the acquisition of eight advanced harbour tugs, all set to be built by Cochin Shipyard Ltd. Valued at an estimated Rs 450 crore, the contract will see the delivery of these tugs commencing in December 2026 and concluding by May 2028, significantly enhancing the efficiency […]
The pharmaceutical department has taken steps to hold multinational company AbbVie Healthcare accountable for breaching the Uniform Code for Pharmaceutical Marketing Practices (UCPMP). The company is accused of taking 30 doctors to Paris and Monaco to improve their “knowledge” on Botox and Juvederm, popular anti-ageing products. As a result, the pharma department has called on […]
Adani Defence Systems & Technologies Ltd (ADSTL) has entered into a share purchase agreement to acquire an 85.8% stake in Air Works, the largest private sector maintenance, repair and overhaul (MRO) company in India. Adani Enterprises Limited informed the stock exchange on Monday that the purchase will cost an enterprise value of Rs 400 crore. […]
The Goods and Services Tax (GST) Council has postponed its decision to reduce tax rates on life and health insurance premiums following its 55th meeting, held on Saturday in Jaisalmer, Rajasthan. The meeting, chaired by Union Finance Minister Nirmala Sitharaman, concluded with members agreeing that additional technical discussions were necessary before finalising the matter. A […]
Following US Fed Chairman Jerome Powell’s hawkish remarks, benchmark equity indices such as the BSE Sensex and NSE Nifty50 experienced a major correction, settling down by more than 1% each. The 30-share Sensex ended Thursday’s trading session at 79,218.05. This is a 964.15 point or 1.20 percent, decline. The index fluctuated between 79,516.17 and 79,020.08. […]
Companies’ compensation to their directors has been an important subject due to the growing number of independent directors (IDs) and non-executive directors (NEDs) on boards. The number of businesses spending Rs 1 lakh or more for every board meeting has been steadily increasing, according to the 2024 edition of the Excellence Enablers’ Survey on Corporate […]
Jeet Adani, Director of Adani Airport Holdings Ltd, emphasised that India cannot afford to remain on the sidelines in the global technological race and must develop the capabilities needed to maintain its leadership while staying vigilant against the misuse of technology. Speaking at IIT Bombay’s Techfest 2024, Adani said that the future of technology is […]
Stock markets slumped in early trading on Tuesday, with the benchmark indices Sensex and Nifty falling by approximately 1% for a second consecutive session. The downturn occurred as investors remained cautious ahead of the US Federal Reserve’s meeting set for December 18. The NSE Nifty50 lost 274 points to its lowest point of the day […]
Google has announced the appointment of Preeti Lobana as its new Country Manager and Vice President for India. Lobana succeeds interim head Roma Datta Chobey and takes over from Sanjay Gupta, who was elevated earlier this year to the position of President for the Asia-Pacific region. Lobana has been with Google for eight years, most […]
Elon Musk, the CEO of Tesla and the founder of SpaceX, has made history by becoming the first individual to reach a net worth of $400 billion, according to the Bloomberg Billionaires Index. A recent insider sale of SpaceX stock significantly boosted Musk’s wealth, adding roughly $50 billion to his fortune. This deal raised SpaceX’s […]
YesMadam, a home service salon start-up, has been making headlines after it reportedly terminated employees who expressed feeling “significant stress” in a survey conducted by the company itself. A screenshot of an email from the company’s HR department announcing the decision has gone viral on social media. According to the email, which was allegedly sent […]
The just-released official GDP growth data for Q2 of FY 2024-25 will heighten concerns about India facing a ‘middle income trap’. If true, India will not become a rich country by 2047. Many Latin American countries that did well up to a point got stuck in this trap and failed to achieve rich country status. […]
Bitcoin has soared to an unprecedented high of $100,000, marking a historic moment for the cryptocurrency. The surge reflects growing investor confidence in a more crypto-friendly regulatory environment, anticipated under Donald Trump’s incoming administration following his recent US Presidential election victory. The cryptocurrency has more than doubled in value since the start of 2024 and […]
Adani Defence and Aerospace has handed over a second Drishti-10 Starliner surveillance drone to the Indian Navy, significantly enhancing the country’s ability to monitor vital shipping routes and counter-piracy threats. Following the delivery of the first Drishti-10 earlier this year, the second unmanned aerial vehicle (UAV) was inducted into naval operations at Porbandar in Gujarat, […]
CareEdge has upgraded the credit rating of Gopalpur Port from BBB (RWP) to AA/Stable, marking an increase of six notches, following its acquisition by Adani Ports and Special Economic Zone (APSEZ) in March 2024. CARE cited that “APSEZ has an established track record of successfully turning around port assets including Dhamra Port post-acquisition through bringing […]
In support of the Adani Group, rating agency CRISIL Ratings stated on Friday that the conglomerate has adequate liquidity and operational cash flows to meet its debt obligations and committed capital expenditure. It also noted that there have been no negative actions from lenders or investors following the United States indictment of the Group’s founder […]
Japan’s largest banks intend to maintain their relationships with billionaire Gautam Adani despite bribery allegations in the United States, even as other global firms, including Barclays Plc, reconsider their exposure to the Indian conglomerate. Mizuho Financial Group Inc. believes the controversy surrounding Adani will not have a lasting impact and plans to continue supporting the […]
Adani Green Energy Ltd (AGEL) has released an official statement clarifying that Gautam Adani, Sagar Adani and senior executive Vneet Jaain have not been charged with violations of the United States Foreign Corrupt Practices Act (FCPA). This announcement comes in response to media reports suggesting otherwise, which the company has categorically refuted as incorrect. In […]
Gautam Adani, founder and chairman of the Adani Group, along with his nephew Sagar, has been summoned to address allegations by the US Securities and Exchange Commission (SEC) of paying $265 million (Rs 2,200 crore) in bribes to secure profitable solar power contracts. Adani’s Shantivan Farm residence in Ahmedabad and his nephew Sagar’s Bodakdev home […]
