MUMBAI: Tata Motors’3.9 billion (Rs 42,561 crore) acquisition of Italian commercial vehicle maker Iveco has cleared a key acceptance threshold, paving the way for the Indian group to take full ownership of the company and delist it within months. The offer secured acceptances representing 87.8% of Iveco’s shares by the close of the tender period … Read more
BENGALURU: Blackstone has launched a global capability centre (GCC) in Bengaluru, its first outside the US, underscoring India’s growing importance to the investment firm’s global operations. The move comes as the firm looks to double its India investments to $100 billion over the next five years from about $51 billion to date.Blackstone vice-chairman and CFO … Read more
File photo: Commerce and industry minister Piyush Goyal HAGUE: Highlighting the growing regulatory burden in Europe, commerce and industry minister Piyush Goyal Monday said businesses wanted greater freedom, simpler procedures and less paperwork, while urging Dutch companies to deepen their engagement with India and tap opportunities in its expanding economy.Goyal said he had repeatedly raised … Read more
Geopolitical tensions and soaring crude prices are fuelling market volatility, weakening the rupee and driving foreign investors away from Indian stocks. MUMBAI: Rising geopolitical risks, elevated crude oil prices, a weakening rupee and unabated foreign fund selling have combined to force Dalal Street investors on the back foot. As a result, markets are bracing for … Read more
MUMBAI: Anil Agarwal, the billionaire-entrepreneur with his origin in Patna in Bihar, is putting in place a plan that would see every Vedanta group company being managed by professionals, and not by any of his family members. The majority ownership of these companies, however, would remain with the group’s London-listed company in which the family … Read more
File photo: GSTAT rules GST on cancelled airline tickets refundable if the airline returns the fare and GST to passengers and has supporting documents. NEW DELHI: GST paid on cancelled airline tickets can be claimed as a refund if the airline has returned both the fare and GST to the passengers and has supporting documents … Read more
At the upper end of this range, the IPO values Jio Platforms at approximately $108 billion. The allotment of Jio Platforms’ Rs 30,213-crore initial public offering (IPO) is expected to be finalised on Monday, following a record-breaking response from investors.Applicants can check their allotment status through the website of the issue’s registrar, KFin Technologies, or … Read more
Vande Bharat Sleeper train NEW DELHI: Indian Railways is set to expand its premium overnight train network with two new Vande Bharat Sleeper services connecting Mumbai and Bengaluru, and Varanasi and New Delhi. The Bengaluru-Mumbai service is scheduled to be inaugurated on October 31, followed by the Varanasi-New Delhi service on November 1.The two services … Read more
IEA’s Birol does not expect energy markets to return to pre-war levels in 2027 With oil prices edging towards $120 a barrel and winter adding to concerns over fuel supplies, the global energy crisis could outlast the Iran war itself.International Energy Agency (IEA) executive director Fatih Birol has warned that energy markets are unlikely to … Read more
Govt allows registration of flex-fuel vehicles running on 85% to 100% ethanol-blended petrol NEW DELHI: Government on Monday notified a change in Central Motor Vehicles Rules, allowing flex-fuel vehicles that can run on upto 100% ethanol blended petrol. This comes barely months before some of the car manufacturers are set to launch their E100 models.An … Read more