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Cina
BRICS Bank to kick-off fund raising with Yuan denominated bonds in China
The five-nation BRICS Bank is launching its first fund raising drive with a yuan-denominated bond targeting investors in China. The bank expects to raise 3-5 billion yuan ($460-767 million) in the second quarter of this year.
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USA
VAT: Odisha food item traders threaten to stop import
Bhubaneswar, Mar 25 () Protesting against the Odisha government's delay in withdrawing 5 per cent VAT on certain food items, a traders body today threatened to stop import of essential commodities like pulses, wheat and wheat products, sugar and edible oil from other states from April 1.
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USA
US Q4 GDP growth revised up; profits dive
The US economy slowed in the fourth quarter, but not as sharply as previously estimated, with fairly strong consumer spending offsetting the drag from efforts by businesses to reduce an inventory overhang. Gross domestic product increased at a 1.4% annual rate instead of the previously reported 1% pace.
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Cina
Uber profits elsewhere support ‘sustainable’ spending in China: CEO
Ride-hailing app company Uber Technologies Inc is generating more than $1 billion in profit a year in its top 30 cities globally, and partly using that money to bankroll its expansion in China, chief executive Travis Kalanick said in an interview.
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India Russia
OVL gets Russia’s nod for $1.268 billion Vankor deal
Russian government has approved ONGC Videsh Ltd's deal to buy 15 per cent in the country's second biggest oil field of Vankor from Rosneft for $1.268 billion. OVL last year signed a deal to buy 15% stake in Vankorneft, the developer of the Vankor oil and gas condensate field in ...
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India
Mistry plans $300m IPO for Tata Sky
Cyrus Mistry has initiated a process to sell part of Tata Sky in his first initial public offering (IPO) move after becoming Tata Group chairman in 2012.
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India
Steel loans worth Rs 50k cr may turn bad in next few months
As banks close their books for the financial year, they are talking tough with stressed steelmakers and making clear their intent to classify them as defaulters. Banks have also asked the government to seriously consider a specialized funding organization for the steel industry on the lines of the Power Finance ...
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India
There is a political risk of reforms slowing, can affect investment: IMF chief economist
International Monetary Fund chief economist Maurice Obstfeld says India’s GDP numbers are broadly credible but calls for improving the numbers beyond what has been done. In an interview to TOI, he says some recapitalisation of banks is needed in the short term. Excerpts.
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India
Sachin Bansal, Kunal Bahl involved in Twitter spat
The ongoing e-commerce war spilled over to Twitter on Friday, when Sachin Bansal, co-founder of India’s largest online retailer Flipkart, made a direct jibe at competitors — Snapdeal and Paytm. Bansal tweeted, “Alibaba deciding to start operations directly shows how badly their India investments have done so far.” Recently, Chinese ...
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India USA
American-Chinese food chain Panda Express to enter India
Fast-food chain Panda Express, which serves an American-Chinese cuisine, plans to make an India entry in partnership with JSM. Mumbai based-JSM had earlier brought international chains like Hard Rock Cafe and California Pizza Kitchen into the domestic market, and is learnt to have inked a master franchise agreement with Panda ...