Rishi Sunak: Churchill’s Old War Office inaugurated as Hinduja’s luxury hotel; Rishi Sunak attends ceremony
NEW DELHI: In 1931, Winston Churchill had famously described Mahatma Gandhi as a “half naked fakir.” Less than a century later, an Indian origin business family — Hindujas — on Wednesday opened the world war II era PM’s Old War…
Vietjet to start a flight between Ho Chi Minh City and Tiruchirappalli from November 2
PUNE: Vietjet on Wednesday announced a direct route between Ho Chi Minh City (Vietnam) and Tiruchirappalli (India) which will start flying on November 2 with three return flights per week initially.Accordingly, flights depart from Tiruchirappalli at 00:30 (local time) and…
JP Morgan: Rupee snaps two-day fall, recovers 6 paise against US dollar
MUMBAI: The rupee on Wednesday staged a recovery after two days of steep losses to end 6 paise higher at 83.22 (provisional) against the US dollar on positive cues from domestic equity markets.However, selling pressure from foreign equity investors amid…
Stock markets rebound on positive trend in Asian, European equities; buying in Reliance
MUMBAI: Benchmark equity indices Sensex and Nifty rebounded from early lows to settle higher on Wednesday following buying in Reliance Industries, Larsen & Toubro and ITC and positive trends in Asian and European markets. The 30-share BSE Sensex rose by…
Indonesia bans e-commerce transactions on social media
JAKARTA: Indonesia has banned e-commerce transactions on social media platforms, the trade minister said on Wednesday, in a move intended to protect traditional retail and which will mostly impact short video platform TikTok and its shopping platform. The government says…
Govt plans to sell 50-year bond to cater to growing demand from insurance, pension funds
NEW DELHI: India will sell 50-year bonds for the first time, introducing ultra-long maturity debt to cater to the growing demand from insurance and pension funds.The new bond adds to the 30-year and 40-year tenor debt sold, extending the nation’s…
How rupee is expected to gain from India’s entry into a major global bond index
The inclusion of India in a major global bond index is expected to strengthen the rupee against its peers, despite the possibility of higher US interest rates affecting the appeal of emerging market assets. The Reserve Bank of India is…
Shares hit three-week low as banks, financials weigh
BENGALURU: Shares hit a three-week low on Wednesday, dragged by losses in banks and financial companies, as worries over higher interest rates and their subsequent impact on growth continued to dent investor sentiment globally. The Nifty 50 fell 0.5% to…
China puts Evergrande’s billionaire founder under police control
BEIJING: Hui Ka Yan, the billionaire chairman of beleaguered property developer China Evergrande Group, has been placed under police control, according to people with knowledge of the matter. Hui was taken away by Chinese police earlier this month and is…
Adani Ports to buy back another $195 million of 2024 bond
MUMBAI: Adani Ports and Special Economic Zone Ltd will buy back as much as $195 million of its 2024 bond, as the Indian conglomerate backed by billionaire Gautam Adani seeks to move on from the allegations levied by a US…