Record News

Real estate developer Sumadhura Infracon plans to invest around ₹5,000 crore to more than double its residential and commercial portfolio over the next three years, its chairman told ET. The company recently purchased 45 acres of land along Bengaluru's Outer Ring Road to construct a commercial facility. In 2023, it plans to build three million square feet of new homes and develop two million square feet of land. «Most of the project funding will be through internal accruals. We also enjoy good relationships with all the financial institutions.

JCB) Excavators, one of the world's largest manufacturers of construction equipment like backhoe loaders and telescopic handlers, aims to increase exports from its India unit this year to 45% of its output, up from 10% five years ago, a top executive said. India, one of the fastest-growing major economies, is JCB's largest market outside Europe. Here, the Bamford family-owned company is also looking to test its recently developed hydrogen combustion engine, its chairman, Lord Bamford, told reporters at the company's global headquarters in Rocester, UK. JCB is also looking to make electrolysers which will produce hydrogen from water for testing its zero-emission backhoe loaders — a first in the construction equipment sector — Bamford said, adding that the electrolysers will be produced for captive consumption. The company plans to commence production of the electrolysers in the next 18 months at its UK facility.

Manipur BJP MLA Rajkumar Imo Singh has written to all the MLAs of the state seeking change in the land law whereby non-tribal can own land in the tribal areas of the state. Presently, tribals can purchase land in the non tribal dominated valley of the state. Imo Singh who is son in law of Chief Minister N.

Congress chief Kamal Nath on Sunday alleged that 18 years of BJP rule in the state is marked by scams, which he termed as «Ghotala 18 or G18», inviting a sharp reaction from the ruling party. «G20 took place in Delhi.

Joe Biden arrives in Vietnam on Sunday to deepen cooperation between the two nations, in the face of China's growing ambitions in the region. Biden — who is flying from the G20 summit in New Delhi — will meet the leader of Vietnam's ruling Communist Party, Nguyen Phu Trong, on Sunday, and is expected to sign off on a «comprehensive strategic partnership», Hanoi's highest level of diplomatic ties. The underlying goal of the short visit will be much the same as Biden's time at the G20 gathering — to shore up support against China's increasing influence. For Vietnam, the upgrading of diplomatic ties is significant.

Mel Tucker, and an advocate against sexual violence in sports, Brenda Tracy, who had previously joined forces to combat the culture of sexual violence, now find themselves embroiled in a scandal. Tucker, the head football coach at Michigan State University and one of the highest-paid coaches in the world of sports, stands accused by Tracy, a rape survivor who has dedicated her life to educating athletes about sexual violence, as reported by USA Today.

bond market at record-breaking pace made one thing clear: They don’t expect rates to stay elevated for long. More than $110 billion in bonds sold globally this week, the busiest start to September on record, with issuance heavily skewed to debt due in under 10 years. The barrage was led by investment-grade issuers, teeing up a wave of junk, including billions of dollars in buyout funding. “Companies don’t really want to lock in these high yields for a very long time if they can avoid it,” said Matt Brill, head of North America investment-grade credit at Invesco Ltd., which manages $1.5 trillion in assets. Prospects of a soft landing in the US and hopes that central banks will soon be able to slow their tightening campaigns make longer-dated debt more attractive to investors.

Egypt’s annual inflation rate has hit a new record high in August, as the cash-strapped country continues to battle price hikes and a depreciating currency

Jawan," Shah Rukh Khan's latest action-packed thriller, has arrived on the big screen and is already making ripples in the Bollywood world. Early forecasts indicate that this movie feast will smash box office records, setting new standards for blockbuster debuts. Directed by the talented Atlee and featuring an ensemble cast that includes SRK, Nayanthara, and Vijay Sethupathi, «Jawan» had been riding a wave of sky-high expectations ever since its announcement.

corporate actions scheduled for this week. IRFC, Jindal Stainless, Gujarat Gas, Jupiter Wagons, Gokaldas Exports, and Landmark Cars will trade ex-dividend, while Power Grid Corporation will trade ex-bonus this week. The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout.

United Kingdom Prime Minister Rishi Sunak announced a record climate aid commitment of $2 billion for the Green Climate Fund on Sunday, the last day of the two-day G20 Summit in New Delhi. The contribution is by far the biggest single funding commitment the UK has made to help the world tackle climate change. «The UK will contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was established by 194 countries following the Copenhagen Accord at COP15,» said the British High Commission in India.

China weakened last month, underscoring the precarious nature of the nation’s recovery. Separate data showed the euro-area economy barely expanded in the second quarter, which may feed policymakers’ worries about stagflation taking hold. Meantime, South Africa’s economy grew by more than expected in the period, driven by finance and manufacturing. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

There was no rest for Telstra’s bankers this weekend as they bunkered down to finalise a bid for Versent, the loss-making cybersecurity play on the market via Goldman Sachs.

Crude oil prices clocked at a ten-month high last week, driven by worries about supply shortages after an unexpected extension of voluntary supply cuts by Saudi Arabia and Russia. Hopes of a delay in further rate hikes by the US Federal Reserve and positive fuel demand from China aided the demand outlook. The most active US WTI crude tested $88 a barrel level, while the Asian benchmark Brent crude pushed above $90 a barrel, for the first time since November last year. A similar move was witnessed in the domestic futures market as well. In April, the key oil-producing countries including Russia, commonly known as OPEC Plus, announced a combined production cut, proposed to extend till 2024 aimed at supporting market stability. However, Saudi Arabia and Russia voluntarily introduced additional reductions in production on top of the broader deal by the OPEC plus countries. Saudi announced a reduction of 1 million barrels of oil per day from July while Russia started cutting down daily production by 300,000 barrels per day. There were expectations in the market that both countries would extend the supply cut into October, but they surprised the market by extending the program till the end of December. Both countries also informed that the plan would be reviewed monthly and adjusted according to market conditions. This has raised worries that demand will exceed supply in the coming quarter sending prices to multi-month highs.

Paying tribute to the victims of Morocco earthquake, Eiffel Tower's lights were turned off on Saturday in Paris, France. The light of the world famous tower were turned off at 11 pm. Notably, Morocco has witnessed one of its deadliest earthquakes in decades.

A meat processing company in Minnesota will pay $300,000 in penalties for employing children as young as 13 to work in hazardous conditions

AFP reported. After departing from the G20 summit in New Delhi, Biden is scheduled to hold a meeting with Nguyen Phu Trong, the leader of Vietnam's ruling Communist Party. During this visit, it is anticipated that they will formalize a "comprehensive strategic partnership," marking the highest level of diplomatic relations between Hanoi and Washington.

An earthquake of magnitude 4.0 struck Tibet's Xizang on Sunday, the National Centre for Seismology (NCS) said in a tweet. The quake hit the region at 5:40 am and its depth was recorded to be at 10 km.

Babar Azam recently surpassed Virat Kohli's record of the fastest 2,000 runs in an ODI and that will provide the Pakistan skipper with much-needed confidence ahead of the crucial match. The fans may get disappointed after reading this but as per Weather.com, there are 90% chances of rain in Colombo on Sunday. But, this time the match will not get washed out as the Asian Cricket Council (ACC) has decided to keep a reserve day.

macroeconomic data, crude oil prices, global cues, and more. Despite the US 10-year bond yield surpassing 4.3 per cent, the dollar index reaching above 50, and Brent crude trading at over $90, the Indian market displayed remarkable resilience last week. Frontline indices Sensex and Nifty settled higher for the sixth consecutive session on Friday, despite a cautious global market.

Zach Swope, a passionate film enthusiast from the United States, has etched his name into the annals of history by smashing the Guinness World Record for the most movies watched in a cinema in a single year. His extraordinary journey began in July 2022 and concluded in July 2023, during which he embarked on a whirlwind adventure of 777 movie screenings. This astounding accomplishment eclipses the previous record of 715, held by Vincent Krohn of France since 2018. At 32 years old, Zach Swope's love affair with cinema remains palpable. A self-proclaimed «huge lover of film,» he had already established a formidable reputation as a cinephile, routinely clocking an impressive tally of 100 to 150 films at the theater each year. This record-breaking endeavor was the ultimate manifestation of his unwavering passion.