MUMBAI: GQG Partners, a major foreign investor in the Adani group companies, has initiated defensive measures to safeguard its share price following the fallout from a US investigation into the Ahmedabad-based conglomerate. The Sydney-listed fund initiated a $65 million share buyback programme, citing the potential presented by the significant drop in its stock value. GQG’s…
MUMBAI: Foreign exchange reserves fell by nearly $18 billion in the week ending Nov 15-the sharpest fall on record-as global investors continued pulling out funds from Indian stock markets.According to RBI data, forex reserves declined by $17.8 billion to $657.9 billion during that week. The decline was largely due to a $15.5 billion drop in…
Mumbai: Byju Raveendran, founder of edtech startup Byju’s, allegedly tried to convince his US-based business associate William R Hailer to leave the country so he could skip appearing in court to testify about Raveendran’s involvement in dubious activities.“On Nov 20, Byju arranged a ticket for me to Dubai on Emirates out of Chicago, Illinois to…
MUMBAI: Interest rate guidance is more effective when policy rates are low as compared to when they are on their way down, according to RBI deputy governor Michael Patra.“Under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy among major central banks. Empirical evidence in the Indian context suggests that forward guidance in a…
MUMBAI: Markets regulator Sebi is having a preliminary look at whether the Adani Group had violated disclosure norms while its chairman and some top officials dealt with a US DoJ grand jury subpoena and investigations by the FBI for wire frauds, violations of securities and other laws in the country for over a year. Sebi…
NEW DELHI: The city’s air quality relapsed to severe by Friday evening after staying in the very-poor range till afternoon. The air quality index (AQI) was 373 at 10am. In the absence of strong winds, it saw a marginal deterioration to 379 by noon, reaching 388 by 3pm, 393 by 4pm, and 401 by 6pm.On…
Jammu and Kashmir Chief Minister Omar Abdullah SRINAGAR: J&K chief minister Omar Abdullah said Friday the special resolution passed earlier this month by the assembly for restoration of the territory’s special status had “not been rejected” by the Centre and “the door is open”. He declared that Congress’s reported denials of having backed the resolution…
NAGPUR/CHANDRAPUR: With five-star hotels booked, travel itinerary chalked out, aircraft on standby to fly out MLAs to deflect poachers, and post-poll strategies in place, both Maha Vikas Aghadi (MVA) and Mahayuti are ready to ringfence their winning legislators due to fears of a hung assembly. If neither alliance gets a majority, then support of every…
Army steps on the gas for high-tech infusion for futuristic warfare, plans to induct ‘domain specialists’ NEW DELHI: With rapid technological advances changing the very nature of warfare, the Army is now cranking up work on 16 specific technology clusters as well as planning to induct `domain specialists’ to ensure it becomes a future-ready force…
NEW DELHI: The BJP-led NDA and the opposition’s INDIA bloc will keep their fingers crossed a day ahead of the counting of votes in Maharashtra and Jharkhand as they anxiously await the people’s verdict in the two states. With the exit polls throwing up a diverse range of predictions, both the camps are gearing up…
