Bhutan Financial News

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SME IPO of Naturewings Holidays will open for subscription today and will close on September 5. The company aims to raise about Rs 7 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

Awami League leader of Bangladesh, Ishaque Ali Khan Panna. His body was recovered from a betel nut plantation in East Jaintia Hills district. The district is in close vicinity of the Indo-Bangladesh border. East Jaintia Hills SP Giri Prasad M said that investigation was on into the matter. “On the evening of 26th August 2024, one unknown male dead body in a semi-decomposed state was found lying at the betel nut plantation located in the Dona Bhoi Area of East Jaintia Hills. One Bangladesh passport bearing the name of Ishaque Ali Khan Panna was recovered from the dead body,” the SP said in a statement. “Later, after observing all the formalities at the PO, the dead body was shifted to Civil Hospital Khliehriat for post-mortem examination.

Rajesh Rawani, a truck driver from Jamtara, Jharkhand, has spent 25 years navigating India's vast roads. While he took up trucking to support his family, his true passion has always been cooking—a hobby that has unexpectedly turned him into a YouTube sensation. With over 1.86 million subscribers and a new home funded by his YouTube earnings, Rajesh's life has taken a remarkable turn. His inspiring story caught the attention of business tycoon Anand Mahindra, who featured Rajesh in his ‘Monday Motivation’ series on Twitter after watching one of his videos. Despite his newfound fame, Rajesh remains a grounded individual. He starts his day at 4 a.m., regardless of how late he went to bed, rarely sleeping more than 2-4 hours a night. Born into a family of truckers, Rajesh's father was also a driver and the sole provider for their family of five, sending home just Rs 500 a month for all their expenses. Despite these humble beginnings and limited education—Rajesh only studied up to the fifth grade—he has driven trucks across India, from Maharashtra to Chhattisgarh, and even to Bhutan.

Mint explores the potential impact of regional instability on not just India’s trade but also internal security. Let’s begin with the political crisis and civil unrest in Bangladesh, with which India shares a 4,096 km border, its longest with any of its neighbours. Although Bangladesh has announced an interim government headed by Nobel Laureate Muhammad Yunus, the riots haven’t abated.

«Everything that we manufacture in our new plant, which is already operational, the module plant is fully operational, and the cell plant will become operational in this month and next month. So, we will become very-very resilient in terms of our supply chain and also consistency in terms of quality and the price of the modules,» says Praveer Sinha, CEO & MD, Tata Power. Let us talk about solar rooftops because you also are a very important player in that. Tell us, what is your current market share? What are the plans going forward? How is it that you plan to scale this up? Praveer Sinha: So, we have already completed more than 100,000 rooftop solar houses. We are the biggest in the rooftop business. In the organised sector, we have more than 20% market share. We have huge plans to work with the government, especially the PM Surya Ghar Programme, and we are enhancing our capability both in terms of our channel partners, as also in terms of the reach that we will have with our own teams and the supply chain. So, over a period of time, you will see that we will become one of the biggest players of the rooftop solar in the country.

Piyush Goyal on Wednesday suggested the seven member countries of the BIMSTEC bloc to relook at the progress of Free Trade Agreement talks which are moving at a very slow pace. He said that the members can think of negotiating a preferential trade agreement instead of a full-fledged free trade pact. BIMSTEC stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Its seven members are five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand). The bloc has been negotiating a proposed Free Trade Agreement (FTA) since 2004.

"EPC margins have been under stress because there was a lot of inventory that was lying with us, which we had procured last year before the 31st March deadline and those are now getting utilised in various projects," says Praveer Sinha, CEO & MD, Tata Power. Just looking at your numbers, while Mundra did well, the renewable PLF was low and lesser margins across the solar EPC as well. When do you anticipate better performance from renewable energy generation specifically? Praveer Sinha: Well, this is the 19th consecutive quarter in which we have shown growth impact. And I think the way the company is structured now and the foundation that has been laid, you can expect only better results going forward. As you mentioned, Mundra has been cost reflective because it is operating under Section 11 and this will continue for at least one more quarter if not more. The second is we are also seeing an uptake in our renewal business. EPC margins have been under stress because there was a lot of inventory that was lying with us, which we had procured last year before the 31st March deadline and those are now getting utilised in various projects.

Digital payments major PhonePe is looking to set up retail payment operations in new geographies, including Southeast Asia and the Gulf region, two people aware of the company's plan told ET. Places like Singapore, the Gulf region and some countries in Europe are on the agenda, but the plan is still in the early stage and implementation will be done slowly, they said. “The plan is to apply for a payment licence in these geographies and set up retail payment operations there,” said one person, requesting not to be named. «The expertise that the team has built scaling up business in India will be handy there and there is a large opportunity as payments get digitised in these places.»

Tata Power Company Ltd is scouting for more public-private hydropower projects in Bhutan, Praveer Sinha, chief executive officer, and managing director, said. On Tuesday, Tata Power announced that it has partnered with Druk Green Power Corporation Limited to develop the 600 MW Khorlochhu Hydropower Project in Bhutan with 40% equity investment. The estimated project cost is ₹6,900 crore. The cost of acquiring 40% equity is ₹830 crore, the company added. No Indian governmental or regulatory approvals are required for the transaction. «The hydro project with Bhutan is a game changer. This may be the beginning of many more such projects in Bhutan. We may look at three to four projects over the next five to seven years,» said Sinha. The company said it is working towards large-scale round-the-clock availability of power by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project and its upcoming 2800 MW pumped hydro storage plants in Maharashtra.

Which industry grows regardless of external factors and serves as the primary growth driver – directly or indirectly – for all other industries? The answer, of course, is the power transmission and generation industry. With the government setting ambitious targets to meet the increasing demand for electricity and support the country’s economic growth, this sector stands at a crossroads. India's power industry is poised to become a significant exporter of electricity, with existing connections to the grids of Bangladesh, Bhutan, and Nepal, and plans to expand these to other neighbouring nations.

foreign direct investments from China, and the government can consider FDI applications from Beijing in sectors involving high-end technologies like electric vehicles and batteries, which are not available in other nations, an official said. China has some modern capital equipment of different types, which can be important for India.

Vikram Misri will pay a two-day visit to Bhutan beginning Friday, in his first trip abroad after assuming charge of the top post. In Bhutanese capital Thimphu, Misri will meet Prime Minister Tshering Tobgay, Foreign Minister DN Dhungyel and Foreign Secretary Pema Choden among others. The foreign secretary's visit underscores the «highest priority» the government of India attaches to its 'Neighbourhood First' policy, the Ministry of External Affairs (MEA) said announcing the visit. «Foreign Secretary Vikram Misri will pay an official visit to Bhutan from July 19-20, which will be his first visit abroad after taking over as the foreign secretary,» it said.

Dalai Lama's next move. Their top-of-the-mind question is whether the Tibetan leader will be announcing his successor. Supporters of the 14th Dalai Lama, which include US lawmakers, are worried that China will try to beat him in the race and declare its own 15th Dalai Lama. 'They have even attempted to insert themselves into the succession of the Dalai Lama. We will not let that happen,' said Republican chair of the US House Foreign Affairs Committee Michael McCaul. For Tibetans living in China and spread across several countries, the Dalai Lama is a 'living Buddha' and represents the symbol of Tibetan identity and Chinese repression. He escaped from Tibet to India in 1959 after Chinese troops took over Tibet and indulged in a bloodbath.

Bihar will roll out the red carpet for domestic and foreign investors at a mega event in December as it looks to lure investments in sectors like textiles, food processing and EVs that will create jobs and boost business in the state. After the grand success of the 2023 edition, the state will host the two-day Bihar Business Connect event on December 11 and 12 in Patna. And before that, it will hold roadshows in different cities, beginning with Kolkata on Monday.

Northeast is set to get a crucial connectivity link to the Bay of Bengal with the opening of the long-awaited Bangladesh-India friendship bridge, known as Maitri Setu, by September.

Sri Lanka, Maldives, Mauritius and the Seychelles to the June 9 swearing in of the next Narendra Modi government reflects the focus on the western and southern Indian Ocean (IOR), where India has been security provider and first responder during crises for decades.

oath of office and secrecy to Narendra Modi and the Union Council of Ministers on June 9 at Rashtrapati Bhavan. Modi is set to begin his third consecutive term as Prime Minister, a historic moment in Indian politics. The ceremony, attended by thousands of dignitaries, will feature extensive security measures to ensure safety.

Narendra Modi will invite some neighbouring countries to his swearing-in ceremony on June 8, said people familiar with the matter on Wednesday. These nations include Sri Lanka, Bangladesh, Bhutan, Nepal, and Mauritius. The caretaker PM has already invited Sri Lankan President Ranil Wickremesinghe for his oath-taking ceremony.

BJP, having secured more than 272 seats on its own in both 2014 and 2019, was not concerned with political stability. However, in his first speech after the results on Tuesday, Modi emphasized that India would continue to look outward, seeking to integrate into global value chains and assist countries in need. For the world, Modi is someone they have engaged with for the past decade, someone they have done business with and hence predictable to work with.