Mint Mumbai - September 22, 2023
Mint Mumbai - September 22, 2023
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In this issue
September 22, 2023
Why fintech apps ask you to open a demat account
Most such apps make profits by cross-selling other financial products to their customers
4 mins
Sunak dilutes green agenda, delays ban on new petrol cars
The British prime minister has pushed back UK’s ban on sale of new petrol and diesel cars by five years to 2035
3 mins
DEVANS ventures into premium spirits
GianChand single malt maker DeVANS Modern Breweries Ltd aims to diversify into various spirit categories including premium gin, whisky, and stout beer
2 mins
Total may lead Adani plan to raise $1.5 bn for green power
The French firm’s 300 mn investment in JV with Adani Green reaffirms its commitment
3 mins
Akasa gets nod to fly overseas
Aviation regulator to look into availability of bilateral air traffic rights following approval granted to the airline
2 mins
Ola Electric writes to i-banks for $700 mn IPO filing by end Oct
India's Ola Electric plans to file regulatory papers for its up to $700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said
1 min
Nomura trims HDFC Bank to neutral, stock closes 4% down
Shares of HDFC Bank Ltd fell as much as 4.2% after Nomura Holdings Inc. downgraded the stock, prompted by the lender's lowered revision of the business absorbed from its parent
1 min
BHEL shines on order inflows, but execution needs to catch up too
Bharat Heavy Electricals Ltd (BHEL) stock is having its moment in the sun. The capital goods company’s shares have risen by a whopping 56% so far in 2023, aided by robust order inflows. In comparison, the Nifty 500 index has gained only 13%
1 min
Asia Healthcare acquires AINU
600 cr buyout of nephrology urology-focused chain marks Asia Healthcare's entry into a fourth speciality
2 mins
ADB keeps India growth forecast at 6.7%
The Asian Development Bank (ADB) on Wednesday said it has retained India's GDP growth forecast at 6.7% for FY 2024 on the back of public investment and recovery in consumption demand
2 mins
Data law appellate authority, rules to be notified in 30 days
Graded timelines for data fiduciaries; Big Tech compliant with GDPR to follow rules first
2 mins
WhatsApp adds rival payment options in India commerce push
WhatsApp said on Wednesday that it will offer credit card payments and services from rival digital payment providers within its app in India, the latest bet by the Meta Platforms Inc.-owned service to boost commerce offerings in its biggest market
1 min
Saudi cuts Asian Premium after India taps Russian oil
Saudi Arabia, the world’s second largest oil producer, has slashed the premium charged on exports to India while many others have discontinued it altogether, a person aware of the matter said, after India began sourcing the bulk of its energy requirements from Russia
2 mins
Ex-UpGrad chief Arjun Mohan to be Byju's next India CEO
Byju's has named Arjun Mohan as the chief executive officer (CEO) of its India operations, succeeding Mrinal Mohit, a founding employee of the Bengalurubased edtech startup
2 mins
India faces flak at WTO for not notifying curbs
India is facing criticism from several World Trade Organization (WTO) members for failing to notify the trade body of its numerous export restrictions to secure domestic food supplies before national elections next year, three people aware of the development said
2 mins
India issues caution for travel to Canada
Diplomatic tensions between India and Canada mounted after New Delhi released a scathing travel advisory counselling its citizens to exercise caution while travelling to Canada
2 mins
Naveen Jindal eyes Africa with steel mill, power plant
Billionaire Naveen Jindal, via a privately held unit, plans to set up a steel mill in Nigeria and a power plant in Botswana to serve the African market, two people familiar with the development said
2 mins
Stocks plummet as crude nears $100
High oil prices could force central banks to raise interest rates
2 mins
How do I file a complaint against rejection of insurance claim?
I bought my health insurance policy in 2016 for myself and my wife. I renewed the policy every year by paying timely premiums till last year. In December 2022, I suffered from typhoid and was admitted in hospital for seven days. The treatment cost me around ₹2 lakh. My insurer denied the claim saying that my condition did not require hospitalization. What can I do to get my claim from the insurance company? -Name withheld on request
1 min
Unpacking Niyo Solutions' zero forex markup cards
As of now, Niyo Global cards are a good payment option for frequent overseas travellers
4 mins
Intel sees glass as a vital bit to power AI
Intel Corp. is betting on an unexpected material to help the world's computers handle ever-growing artificial intelligence workloads: glass.
1 min
US, Iran swap detainees in Qatar-bartered deal
The deal also unfroze 6 bn of Iran’s funds that were blocked by sanctions
2 mins
'No plan to share revenues of OTT apps with telcos'
The central government is not considering enabling a revenue sharing model between over-the-top (OTT) players or apps and the telecom service providers for using the telcos’ networks for carriage of the apps, said a top official in the ministry of communications.
2 mins
US auto strike puts Indian ancillary hubs on the edge
This is the first time UAW has launched a simultaneous strike against all 3 automakers
2 mins
Holiday airfares surge, double in some routes
Data from travel portals shows an increase in advance bookings as well
2 mins
NBFCs relying more on bank loans: RBI
Domestic non-banking financial companies (NBFCs), especially those in the upper-layer category, are increasingly relying on bank borrowings as their primary source of funding, according to an analysis in Reserve Bank of India (RBI)’s September bulletin.
2 mins
CDIL to expand chip ATMP; fab plans later
Co will utilize PLI, SPECS schemes for new testing, packaging lines
4 mins
Govt bonds swing on talk of joining indices
India's government debt market is on tenterhooks again as traders assess the buzz around prospects for the nation's sovereign debt to be added to global indexes.
1 min
JSW Infra readies ₹2,800 crore IPO; bidding opens 25 Sep
Port operator JSW Infrastructure Ltd on Monday announced plans for a ₹2,800 crore initial public offering (IPO), the first from the JSW Group in 13 years.
2 mins
Brazil's Ebanx to enter India in developing markets expansion
Brazilian payments company Ebanx Ltda, which operates in 16 countries in Latin America and Africa, will begin doing business in India by the end of the year as part of its global expansion to developing countries.
1 min
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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