Tata Group’s Talks Over $1 Billion Bisleri Stake Stall
Tata Group’s talks for a majority stake in Bisleri International Pvt, one of India’s largest bottled water makers, have stalled overvaluation, according to people familiar with the matter. The Indian conglomerate had been in advanced discussions to take control of Bisleri and the parties were working on finalizing the structure of a transaction, the people […]
A $19 Billion Derivative Bond Trade in India Will Unwind with Modi’s New Tax
A derivative trade that boosted demand for India’s sovereign bonds by billions is at risk from a proposed tax, piling pressure on a market straining under record government borrowings. Analysts say a New Delhi plan to tax high-value insurance policies will reduce demand, leading the industry to cut back on bond investments. For the past […]
Israel and Palestinians Pledge to Reduce Violence
The Israeli government and the Palestinian Authority have announced a joint commitment to take immediate steps to end a surge in violence. The move has emerged from rare talks in Jordan, also attended by US and Egyptian officials. The meeting agreed to support confidence-building steps and “to work towards a just and lasting peace”. As […]
South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product
In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans from foreign banks. A Setback […]
PCB Calls Emergent Meeting to Decide PSL Fate
LAHORE: The Pakistan Cricket Board called an emergent meeting with the owners of all six franchises of HBL Pakistan Super League on Friday to apprise them about the demand of the Punjab government asking for an amount of Rs450 million for providing security to the matches that will be held in Lahore and Rawalpindi from […]
The Story Behind Barkhan Tragedy
In Balochistan, they say, there is no dearth of unfortunate news. When word got out that the bodies of Khan Mohammad Marri’s wife and two sons had turned up in a well in Barkhan, the grisly news spread like wildfire. As expected, the bodies of a woman and Marri’s two sons — their coffins shrouded […]
US Markets Tumble as Real Estate Weakens
On Tuesday, all four major US benchmark stock indexes fell as real estate data showed home sales dropped by 0.7% last month and Russian President Vladimir Putin suspended the nuclear arms control treaty with the United States. Additionally, the chief U.S. equity strategist at Morgan Stanley said the stock market is in a “death zone” […]
India Invokes Emergency Law Force Coal Plants to Boost Output
Directive calling on coal plants to run at full capacity comes ahead of the expected surge in power usage this summer. India has invoked an emergency law to force power plants that run on imported coal to maximize output ahead of an expected record surge in power usage from mid-March through to mid-June, according to […]
Qatar Based Bid for Manchester United Confirmed on Deadline Day
The deal to buy Manchester United football club is expected to shatter records for the sale of a sports business. Sheikh Jassim Bin Hamad Al Thani, a son of Qatar’s former prime minister, has launched a bid to buy the United Kingdom’s Premier League club Manchester United, whose United States-based owners launched a formal sale […]
Japan Advertising Exec Pleads Guilty to Olympics Bribery
TOKYO: The former president of a major Japanese advertising firm pleaded guilty Friday to bribing an Olympics official to secure a coveted sponsorship contract for the Tokyo Games. The admission in a Tokyo court comes as the investigation into bid-rigging and bribery widens, casting a shadow over Sapporo’s bid for the 2030 Winter Games. “Nothing […]