OTAKUBAY

The Indian job market is estimated to witness 22 per cent churn over the next five years, with top emerging roles coming from AI, machine learning and data segments, a new study showed on Monday. Globally, the job market churn is estimated at 23 per cent, with 69 million new jobs expected to be created and 83 million eliminated by 2027, the World Economic Forum said in its latest Future of Jobs report. "Almost a quarter of jobs (23 per cent) are expected to change in the next five years through growth of 10.2 per cent and decline of 12.3 per cent (globally)," the WEF said. According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2 per cent of current employment. Regarding India, it said 61 per cent of companies think broader applications of ESG (environment, social and governance) s

The Indian job market is estimated to witness 22 per cent churn over the next five years, with top emerging roles coming from AI, machine learning and data segments, a new study showed on Monday. Globally, the job market churn is estimated at 23 per cent, with 69 million new jobs expected to be created and 83 million eliminated by 2027, the World Economic Forum said in its latest Future of Jobs report. "Almost a quarter of jobs (23 per cent) are expected to change in the next five years through growth of 10.2 per cent and decline of 12.3 per cent (globally)," the WEF said. According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2 per cent of current employment. Regarding India, it said 61 per cent of companies think broader applications of ESG (environment, social and governance) s

Petroleum and oil marketing companies have slashed the price of Commercial LPG cylinders by Rs 171.50 with immediate effect, according to sources on Monday. After the move, the latest retail price of a 19 kg LPG cylinder in Delhi now stands at Rs 1,856.50. Last month, too, their prices were reduced by Rs 91.50 per unit, standing at Rs 2,028 per unit. Petroleum and oil marketing companies had on March 1 this year hiked the prices of commercial LPG cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit. The prices of the commercial cylinders were reduced the last time in September 1 last year by Rs 91.50.On August 1, 2022, too, the prices of commercial LPG cylinders were reduced by Rs 36. Prior to that, on July 6, rates for the 19-kilogram commercial cylinder were cut by Rs 8.5 per unit. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) source https://www.ndtv.com/business/commercial-lpg-cylinder

Petroleum and oil marketing companies have slashed the price of Commercial LPG cylinders by Rs 171.50 with immediate effect, according to sources on Monday. After the move, the latest retail price of a 19 kg LPG cylinder in Delhi now stands at Rs 1,856.50. Last month, too, their prices were reduced by Rs 91.50 per unit, standing at Rs 2,028 per unit. Petroleum and oil marketing companies had on March 1 this year hiked the prices of commercial LPG cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit. The prices of the commercial cylinders were reduced the last time in September 1 last year by Rs 91.50.On August 1, 2022, too, the prices of commercial LPG cylinders were reduced by Rs 36. Prior to that, on July 6, rates for the 19-kilogram commercial cylinder were cut by Rs 8.5 per unit. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/JK9EfDN via

Rajneesh Karnatak has joined the Bank of India as its managing director and chief executive officer, the lender has said. Rajneesh Karnatak has an experience of over 29 years. Prior to this, he had been the chief general manager of Punjab National Bank until his appointment as executive director in Union Bank of India from October 21, 2021. He completed the Master of Commerce and is a certified associate from Indian Institute of Bankers (CAIIB). With a new leader we are poised to ascend to new heights & successes. Here are glimpses of warm welcome to our MD & CEO Shri Rajneesh Karnatak at Bank of India Head Office, Mumbai. pic.twitter.com/pvCK07DP9v — Bank of India (@BankofIndia_IN) April 29, 2023 During his banking career, he has headed critical divisions like large corporate credit branches and strategic verticals such as credit monitoring, digital banking and mid corporate credit as general manager in Oriental Bank of Commerce. Post-amalgamation of Oriental Bank of Com

Rajneesh Karnatak has joined the Bank of India as its managing director and chief executive officer, the lender has said. Rajneesh Karnatak has an experience of over 29 years. Prior to this, he had been the chief general manager of Punjab National Bank until his appointment as executive director in Union Bank of India from October 21, 2021. He completed the Master of Commerce and is a certified associate from Indian Institute of Bankers (CAIIB). With a new leader we are poised to ascend to new heights & successes. Here are glimpses of warm welcome to our MD & CEO Shri Rajneesh Karnatak at Bank of India Head Office, Mumbai. pic.twitter.com/pvCK07DP9v — Bank of India (@BankofIndia_IN) April 29, 2023 During his banking career, he has headed critical divisions like large corporate credit branches and strategic verticals such as credit monitoring, digital banking and mid corporate credit as general manager in Oriental Bank of Commerce. Post-amalgamation of Oriental Bank of Com

The total wheat arrivals has crossed 100 lakh metric tonne in the 'mandis' of Punjab. The total arrival of wheat crossed 100 lakh metric tonne (LMT) till Thursday, said an official statement. Of the total arrivals so far, about 3.5 LMT have been purchased by the traders, while the rest has been picked up by the government agencies at Minimum Support Price, the statement said. Notably, the wheat procurement in the state began on April 1, but due to unseasonal rains in many parts of the state, the pace picked up a few days later. Punjab's Food, Civil Supplies and Consumer Affairs Minister, Lal Chand Kataruchak said the procurement of wheat has entered its last phase. The total wheat arrivals has crossed 100 LMT already and has surpassed the entire procurement of last year, which stood at 96 LMT. Comparing the arrivals with the previous year, the Minister said that "it is a matter of pride that once again Punjab is on top in feeding the nation, with almost 50 per cen

The total wheat arrivals has crossed 100 lakh metric tonne in the 'mandis' of Punjab. The total arrival of wheat crossed 100 lakh metric tonne (LMT) till Thursday, said an official statement. Of the total arrivals so far, about 3.5 LMT have been purchased by the traders, while the rest has been picked up by the government agencies at Minimum Support Price, the statement said. Notably, the wheat procurement in the state began on April 1, but due to unseasonal rains in many parts of the state, the pace picked up a few days later. Punjab's Food, Civil Supplies and Consumer Affairs Minister, Lal Chand Kataruchak said the procurement of wheat has entered its last phase. The total wheat arrivals has crossed 100 LMT already and has surpassed the entire procurement of last year, which stood at 96 LMT. Comparing the arrivals with the previous year, the Minister said that "it is a matter of pride that once again Punjab is on top in feeding the nation, with almost 50 per cen

Cement maker ACC Ltd on Thursday reported a decline of 40.53 per cent in its consolidated net profit at Rs 235.66 crore for the quarter ended March 2023. The company had posted a profit of Rs 396.33 crore in the January-March quarter a year ago, said ACC, now a part of Adani Cement, in a BSE filing. Its total revenue from operations during the quarter under review was at Rs 4,790.91 crore, up 8.23 per cent, as against Rs 4,426.54 crore in the corresponding period a year ago. ACC's total expenses were at Rs 4,514.38 crore, up 14.10 per cent. Its sales volume (Cement & Clinker) was at 8.5 million tonnes, up 7.6 per cent as against the January-March quarter of the last fiscal. ACC whole-time Director and CEO Ajay Kapur said: "Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators." "We have a detailed bluep

Sebi on Thursday barred five entities, including an employee of Life Insurance Corporation of India (LIC), from the securities market and impounded illegal gains of Rs 2.44 crore made by them, in a case pertaining to front-running the trades of the state-owned insurer. Also, they have been asked to "cease and desist" from engaging in any fraudulent, manipulative or unfair trade practice, including front-running. These five entities prohibited by Sebi are -- Yogesh Garg, who was working in the investment department of LIC through which trades on behalf of the insurer were placed; his mother Sarita Garg; his mother-in-law Kamlesh Agarwal; Ved Prakash HUF and Sarita Garg HUF, the capital markets regulator said in its interim order. Going by Sebi's order, Yogesh Garg is still professionally associated with LIC. Sebi has been informed by LIC that Yogesh Garg has been transferred from the investment department of the company to another department of the insurance firm. The

Sebi on Thursday barred five entities, including an employee of Life Insurance Corporation of India (LIC), from the securities market and impounded illegal gains of Rs 2.44 crore made by them, in a case pertaining to front-running the trades of the state-owned insurer. Also, they have been asked to "cease and desist" from engaging in any fraudulent, manipulative or unfair trade practice, including front-running. These five entities prohibited by Sebi are -- Yogesh Garg, who was working in the investment department of LIC through which trades on behalf of the insurer were placed; his mother Sarita Garg; his mother-in-law Kamlesh Agarwal; Ved Prakash HUF and Sarita Garg HUF, the capital markets regulator said in its interim order. Going by Sebi's order, Yogesh Garg is still professionally associated with LIC. Sebi has been informed by LIC that Yogesh Garg has been transferred from the investment department of the company to another department of the insurance firm. The

Private sector lender Axis Bank on Thursday reported a net loss of Rs 57 crore for the March 2023 quarter on account of the acquisition of the retail consumer business of CitiIndia. The bank earned a net profit of Rs 4,118 crore on a standalone basis in the same quarter the previous year. During the quarter, the bank's total income increased to Rs 28,865 crore from Rs 22,000 crore a year ago, Axis Bank said in a regulatory filing. Interest income grew to Rs 23,970 crore during the period under review against Rs 17,776 crore in the corresponding quarter a year ago. The bank's board has recommended a dividend of Rs 1 per share or 50 per cent of Rs 2 face value for the year ended March 31, 2023. Gross non-performing assets (NPAs) were reduced to 2.02 per cent of gross advances as of March 31, 2023, from 2.82 per cent by the end of March 2022. Net NPAs also came down to 0.39 per cent of the advances from 0.73 per cent at the end of 2022. The fall in the bad loans ratio helpe

Facebook-parent Meta on Wednesday reported it made a profit of $5.7 billion dollars in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs. The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report showed. "We had a good quarter and our community continues to grow," said Mark Zuckerberg, Meta founder and CEO. "We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision." Zuckerberg, who has called 2023 the "year of efficiency", added that artificial intelligence being used at Meta is "driving good results" across its business. Meta shares were up nearly 10 percent to $239 in after-market trades that followed release of the earnings figures. Meta said that the number of ads shown across its "family of apps&q

Facebook-parent Meta on Wednesday reported it made a profit of $5.7 billion dollars in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs. The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report showed. "We had a good quarter and our community continues to grow," said Mark Zuckerberg, Meta founder and CEO. "We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision." Zuckerberg, who has called 2023 the "year of efficiency", added that artificial intelligence being used at Meta is "driving good results" across its business. Meta shares were up nearly 10 percent to $239 in after-market trades that followed release of the earnings figures. Meta said that the number of ads shown across its "family of apps&q

Market benchmark indices advanced in early trade on Thursday, climbing for the fourth straight day amid fresh foreign fund inflows and buying in index major Reliance Industries. The 30-share BSE Sensex climbed 88.71 points to 60,389.29 points. The broader NSE Nifty advanced 19.40 points to 17,833 points. From the Sensex firms, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, IndusInd Bank, ITC, Reliance Industries, Larsen & Toubro and Mahindra & Mahindra were the major winners. Power Grid, Tata Consultancy Services, Wipro, Asian Paints, Hindustan Unilever and Axis Bank were among the laggards. In Asian markets, Seoul and Shanghai were trading in the green while Japan and Hong Kong quoted lower. The US markets had ended mostly lower on Wednesday. "With the current month's F&O set to expire today, caution may prevail. Recession fears are again seen resurfacing in the US amid renewed concerns about a wider impact from the recent banking crisis. "Also, ch

Samsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business. The South Korean company -- one of the world's largest makers of memory chips and smartphones -- said in a statement that operating profit fell 640 billion won ($478.6 million) -- down 95 percent from a year earlier. The company's first-quarter net income fell 86.1 percent to 1.57 trillion won, and sales dropped 18 percent to 63.75 trillion won. The company said that "overall consumer spending slowed amid the uncertain global macroeconomic environment". Samsung also blamed weakening demand for memory chips -- which usually generate about half the firm's profits -- and falling chip prices. Samsung's chip division reported 4.58 trillion won in losses, its first operating loss since 2009 -- when the world was emerging from the 2008 financial crisis. It said this was

Samsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business. The South Korean company -- one of the world's largest makers of memory chips and smartphones -- said in a statement that operating profit fell 640 billion won ($478.6 million) -- down 95 percent from a year earlier. The company's first-quarter net income fell 86.1 percent to 1.57 trillion won, and sales dropped 18 percent to 63.75 trillion won. The company said that "overall consumer spending slowed amid the uncertain global macroeconomic environment". Samsung also blamed weakening demand for memory chips -- which usually generate about half the firm's profits -- and falling chip prices. Samsung's chip division reported 4.58 trillion won in losses, its first operating loss since 2009 -- when the world was emerging from the 2008 financial crisis. It said this was

The rupee depreciated 6 paise to 82.01 against the US dollar in early trade on Wednesday, weighed down by foreign fund outflows and a negative trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.00 against the dollar, then fell to 82.01, registering a decline of 6 paise over its last close. On Tuesday, the rupee settled at 81.95 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 101.82. Brent crude futures, the global oil benchmark, advanced 0.37 per cent to USD 81.07 per barrel. "The undercurrents of the rising chaos on the global front amid geo-political concerns and a sudden change in the risk on and off mode are not healthy for the currency. "However, in the near-term perspective, the pair has been squeezed between 81.80-82.20, and a push above 82.20 is required to take the pair towards 82.50-82.80 levels," CR Forex Advisors MD A

Equity benchmark indices declined in early trade on Wednesday tracking weak trends in the US market and foreign fund outflows. Also, a weak trend in index major Reliance Industries and ICICI Bank dragged down the benchmark indices lower in initial trade. The 30-share BSE Sensex declined 54.08 points to 60,076.63 points while the broader NSE Nifty fell 24 points to 17,745.25 points. Among the Sensex firms, Tata Steel, State Bank of India, Reliance Industries, Bajaj Finserv, NTPC, Kotak Mahindra Bank, ITC, ICICI Bank, HDFC Bank and HDFC were the biggest laggards. Power Grid, IndusInd Bank, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Nestle were among the gainers. In Asian markets, Seoul and Hong Kong were quoting in the green while Japan and Shanghai were trading lower. The US markets had ended sharply lower on Tuesday. "Markets could decline sharply in early Wednesday trade after the key US gauges faltered overnight as renewed banking woes came to the for

The rupee depreciated 6 paise to 82.01 against the US dollar in early trade on Wednesday, weighed down by foreign fund outflows and a negative trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.00 against the dollar, then fell to 82.01, registering a decline of 6 paise over its last close. On Tuesday, the rupee settled at 81.95 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 101.82. Brent crude futures, the global oil benchmark, advanced 0.37 per cent to USD 81.07 per barrel. "The undercurrents of the rising chaos on the global front amid geo-political concerns and a sudden change in the risk on and off mode are not healthy for the currency. "However, in the near-term perspective, the pair has been squeezed between 81.80-82.20, and a push above 82.20 is required to take the pair towards 82.50-82.80 levels," CR Forex Advisors MD A

 FMCG (Fast-moving consumer goods) major Nestle India Ltd on Tuesday reported an increase of 24.69 per cent in its net profit at Rs 736.64 crore for the first quarter ending March 31, 2023. The company, which follows the January-December financial year, had posted a net profit of Rs 590.77 crore in the same period a year ago, Nestle India said in a regulatory filing. Nestle India's net sales rose 20.43 per cent to Rs 4,808.40 crore during the period under review, as against Rs 3,962.84 crore in the corresponding period last fiscal, the company said. Its total expenses in the January-March quarter were at Rs 3,873.76 crore, up 20.61 per cent, as against Rs 3,211.78 crore in the corresponding period a year ago. Nestle India's domestic sales were up 21.18 per cent to Rs 4,612.73 crore, as against Rs 3,806.20 crore in the January-March period of 2022. Its exports were up 24.91 per cent to Rs 195.67 crore, as against Rs 156.64 crore in the corresponding quarter a year ago. Sha

 The Serum Institute of Life Sciences will double its investment in one of Biocon Ltd's units, giving it access to 100 million doses of vaccines annually along with the distribution rights to Serum's vaccine portfolio, the Indian biopharma firm said today. Serum Institute of Life Sciences is a unit of Serum Institute of India, the world's biggest vaccine maker. Under new terms of the alliance, it would pump in $150 million after converting a loan to Biocon Pharma Ltd into equity in Biocon Biologics Ltd, the company said. The investment is in addition to the $150 million that Serum Institute of Life Sciences invested in Biocon Biologics in November, the company said. Biocon had signed an agreement in September 2021 to offer about 15% stake in Biocon Biologics to Serum Institute of Life Sciences. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) source https://www.ndtv.com/business/serum-institute-to-doubl

Domestic equity markets witnessed volatile trading in the morning session on Tuesday, with Sensex and Nifty trading flat as investors await corporate results to assess demand scenario in the economy. A day after reclaiming the 60,000-level, the 30-share benchmark Sensex opened in the negative territory and was trading marginally lower at 60,045.23 points. As many as 14 Sensex constituents gained, while 16 declined in early trade. The broader 50-share Nifty was trading flat at 17,740.60 points after opening marginally lower. As many as 25 scrips of the key index were in the positive zone, while an equal number were in the negative territory. Asian markets witnessed mixed trends as Japan's Nikkei 225 was trading higher, while Hong Kong's Hang Seng and China's SSE Composite Index were quoting lower. On Monday, European markets closed in the red, while the US shares ended on a mixed note as investors await financial results of big tech companies and fresh economic data ami

 The Serum Institute of Life Sciences will double its investment in one of Biocon Ltd's units, giving it access to 100 million doses of vaccines annually along with the distribution rights to Serum's vaccine portfolio, the Indian biopharma firm said today. Serum Institute of Life Sciences is a unit of Serum Institute of India, the world's biggest vaccine maker. Under new terms of the alliance, it would pump in $150 million after converting a loan to Biocon Pharma Ltd into equity in Biocon Biologics Ltd, the company said. The investment is in addition to the $150 million that Serum Institute of Life Sciences invested in Biocon Biologics in November, the company said. Biocon had signed an agreement in September 2021 to offer about 15% stake in Biocon Biologics to Serum Institute of Life Sciences. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV Profit-Latest https://ift.tt/l5hpCNb via

We all like weekends. Two days off after a long work week is just what we need. But you know what's better than a weekend? A long weekend! A weekend is good but a long weekend is more fun. Just like people look forward to an extra day off from work, investors also look forward to companies declaring bonus shares and stock splits . A bonus share is an additional share that a company issues to its existing shareholders at no cost, based on the number of shares they already hold. This means that an investor who holds 100 shares of a company receiving a 1:1 bonus share will now hold 200 shares without having to pay anything for the new shares. On the other hand, a stock split is when a company divides its existing shares into multiple shares while maintaining the overall value of the shares. For example, a company that has 1,000 shares trading at Rs 100 per share may decide to split its shares into 2,000 shares trading at Rs 50 per share. Bonus shares and stock splits are exciti

We all like weekends. Two days off after a long work week is just what we need. But you know what's better than a weekend? A long weekend! A weekend is good but a long weekend is more fun. Just like people look forward to an extra day off from work, investors also look forward to companies declaring bonus shares and stock splits . A bonus share is an additional share that a company issues to its existing shareholders at no cost, based on the number of shares they already hold. This means that an investor who holds 100 shares of a company receiving a 1:1 bonus share will now hold 200 shares without having to pay anything for the new shares. On the other hand, a stock split is when a company divides its existing shares into multiple shares while maintaining the overall value of the shares. For example, a company that has 1,000 shares trading at Rs 100 per share may decide to split its shares into 2,000 shares trading at Rs 50 per share. Bonus shares and stock splits are exciti

Adani Group bonds rose after a key company started the first debt buyback by Indian billionaire Gautam Adani's conglomerate since it was targeted by a short seller in January. Adani Ports & Special Economic Zone Ltd. said it plans to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, as it tries to show that its liquidity position is comfortable, the firm said in stock exchange filing. Prices for 10 out of 15 dollar-denominated notes of Adani Group companies tracked by Bloomberg rose as of 11:27 a.m. in Hong Kong on Monday. That was led by a 0.69 cent on the dollar gain of Adani Ports' July 2024 3.375% senior debt, the biggest advance in a month. The buyback would mark another effort by the group to regain investor confidence, including trimming capital spending, after a Hindenburg Research report pounded its bonds and shares. Adani Ports' "measured pace" of repaying debt should enable it to mainta

Equity benchmark indices Sensex and Nifty climbed in early trade on Monday amid mixed global cues. The 30-share Sensex jumped 179.16 points or 0.30 per cent to 59,834.22 points, while the broader 50-share Nifty rose 46.75 points or 0.27 per cent to 17,670.80 points. In the Sensex pack, 13 stocks were trading in the green, while the remaining 17 shares were in the negative territory. The initial gains were led by buying in the counters of Reliance Industries and ICICI Bank, among others. Reliance Industries, ICICI Bank, Wipro and State Bank of India rose more than 1 per cent. Among the Nifty shares, 23 were trading in the positive zone. In the Asia Pacific region, stocks were showing mixed trends as Japan's Nikkei 225 was trading in the positive territory, while Hong Kong's Hang Seng and China's SSE Composite Index were trading lower. On Friday, the US market as well as most of the European benchmark indices closed with gains. In a pre-market open note, Deepak Jasani,

Equity benchmark indices Sensex and Nifty climbed in early trade on Monday amid mixed global cues. The 30-share Sensex jumped 179.16 points or 0.30 per cent to 59,834.22 points, while the broader 50-share Nifty rose 46.75 points or 0.27 per cent to 17,670.80 points. In the Sensex pack, 13 stocks were trading in the green, while the remaining 17 shares were in the negative territory. The initial gains were led by buying in the counters of Reliance Industries and ICICI Bank, among others. Reliance Industries, ICICI Bank, Wipro and State Bank of India rose more than 1 per cent. Among the Nifty shares, 23 were trading in the positive zone. In the Asia Pacific region, stocks were showing mixed trends as Japan's Nikkei 225 was trading in the positive territory, while Hong Kong's Hang Seng and China's SSE Composite Index were trading lower. On Friday, the US market as well as most of the European benchmark indices closed with gains. In a pre-market open note, Deepak Jasani,

The U.S. dollar-denominated bonds issued by Adani Ports and Special Economic Zone rose on Monday, after the company commenced a cash tender offer for a buyback of securities. On Monday, Adani Ports and Special Economic Zone, part of the beleaguered Adani Group, said it has floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds. The note was the lead gainer among all the group companies. "The purpose of the tender offer is to partly prepay the company's near-term debt maturities and to convey thecomfortable liquidity position," it said in a statement. The company has engaged Barclays Bank, DBS Bank, Emirates NBD Bank PJSC, First Abu Dhabi Bank, PJSC, MUFG Securities Asia Singapore Branch, SMBC Nikko Securities (Hong Kong) and Standard Chartered Bank to serve as dealer managers for the offer. The dollar bonds of Adani Transmission, Adani Green Energy and Adani Electricity Mumbai were trading mixed. Led by billionaire Gautam Adani, the

The U.S. dollar-denominated bonds issued by Adani Ports and Special Economic Zone rose on Monday, after the company commenced a cash tender offer for a buyback of securities. On Monday, Adani Ports and Special Economic Zone, part of the beleaguered Adani Group, said it has floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds. The note was the lead gainer among all the group companies. "The purpose of the tender offer is to partly prepay the company's near-term debt maturities and to convey thecomfortable liquidity position," it said in a statement. The company has engaged Barclays Bank, DBS Bank, Emirates NBD Bank PJSC, First Abu Dhabi Bank, PJSC, MUFG Securities Asia Singapore Branch, SMBC Nikko Securities (Hong Kong) and Standard Chartered Bank to serve as dealer managers for the offer. The dollar bonds of Adani Transmission, Adani Green Energy and Adani Electricity Mumbai were trading mixed. Led by billionaire Gautam Adani, the

Underlining that global consensus is necessary for regulation of crypto, before India makes any move on it, Union Finance Minister Nirmala Sitharaman on Sunday said a global template may have to be created, and everyone will have to work together on it, otherwise regulating it will not be effective. The Minister, however, said it does not mean controlling of 'distributed ledger technology', which has its goodness and potential. "The G20 of which the India is currently holding the Presidency, it was India's proposal and it has been taken on board, I'm glad that the G20 has kept it in its agenda for this year, the IMF has given a paper on crypto currency and the way it can affect the macroeconomic stability. The Financial Stability Board (FSB), which was set up by G20, has agreed to give a report that will also focus on financial stability," Ms Sitharaman said. "Their (FSB) report and IMF's report are going to be discussed in July when Finance Minist

Underlining that global consensus is necessary for regulation of crypto, before India makes any move on it, Union Finance Minister Nirmala Sitharaman on Sunday said a global template may have to be created, and everyone will have to work together on it, otherwise regulating it will not be effective. The Minister, however, said it does not mean controlling of 'distributed ledger technology', which has its goodness and potential. "The G20 of which the India is currently holding the Presidency, it was India's proposal and it has been taken on board, I'm glad that the G20 has kept it in its agenda for this year, the IMF has given a paper on crypto currency and the way it can affect the macroeconomic stability. The Financial Stability Board (FSB), which was set up by G20, has agreed to give a report that will also focus on financial stability," Ms Sitharaman said. "Their (FSB) report and IMF's report are going to be discussed in July when Finance Minist