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While investors continue to withdraw capital from the decentralized finance (DeFi) industry at large, one particular sub-sector is growing at breakneck speed. Here's the latest.

BENGALURU, NEW DELHI : Six of the eight Bermuda and Mauritius-based public funds alleged to have been used by people with ties to the Adani Group for buying shares of the conglomerate’s listed companies, have been shut, according to regulatory filings in these countries accessed by Mint, posing a challenge for the Securities and Exchange Board of India (Sebi) in determining the ultimate beneficiaries of these investment vehicles. The Organized Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, recently reported that people with ties to the Adani family secretly held significant stakes in group entities in possible violation of the country’s law on maximum ownership by promoters in listed entities, through some of these funds.

NEW DELHI : The government has invited Swiss consultants to help make India’s mountain roads strong and durable to withstand severe weather conditions like heavy rains. After evaluating the highway construction techniques in Switzerland, the ministry of road transport and highways (MoRTH) has sought advice from Swiss companies to design mechanisms to prevent extensive damage to roads, two people familiar with the development said.

Tripura at the top with over 89 per cent voting. The counting of votes is on September 8 for the by-election — seen as a litmus test for the opposition alliance INDIA against the BJP-led NDA ahead of the assembly polls in five states later this year and the 2023 Lok Sabha election. The by-election saw the INDIA alliance putting up a united front in the Ghosi constituency in Uttar Pradesh, where the voting was moderate at around 50.30 per cent, and in Jharkhand's Dumri where a total of 64.84 per cent of 2.98 lakh voters exercised their franchise. Uttarakhand's Bageshwar, where the main contest is between the BJP and the Congress, saw 55.44 per cent voting. In Dhanpur and Boxanagar seats in Tripura, where the Congress had extended support to the CPI(M), there was 89.20 per cent and 83.92 per cent polling respectively. Six persons were injured in a stray incidents of violence in the northeastern state. In Dhupguri in West Bengal and Puthuppally in Kerala, where the INDIA bloc constituents were up against each other, the voting was around 76 per cent and nearly 73 per cent respectively. Out of the seven seats, three (Dhanpur, Bageshwar and Dhupguri), were held by the BJP and one each by the SP (Ghosi), CPI(M) (Boxanagar), JMM (Dumri) and the Congress (Puthuppally). In Uttar Pradesh, the Ghosi seat fell vacant after the resignation of Samajwadi Party (SP) MLA and OBC leader Dara Singh Chauhan, who rejoined the BJP. While the ruling BJP-led NDA has fielded Chauhan, Samajwadi Party candidate Sudhakar Singh has got the support of the Congress and Left parties.

China's Country Garden made interest payments on U.S. dollar bonds hours ahead of a grace period deadline, a person close to the firm said, pulling back from the brink of default for the second time in four days and bringing some relief to the country's crisis-hit property sector. China's largest private property developer failed to pay coupons on the bonds totalling $22.5 million due on Aug. 6, exacerbating fears over how much cash it has left and keeping markets on tenterhooks throughout the bonds' 30-day grace periods. Though the amount was modest, failure to pay would have undermined fragile hope in financial markets that China's steady drip feed of policy stimulus was starting to stabilise the economy and its struggling property market. It would also have raised the prospect of default on other dollar bonds as well as creditor calls to accelerate payments, bondholders and lawyers said, while heightening concern of a spillover into the banking system in the world's second-largest economy. Country Garden also offered on Tuesday to extend repayment of eight onshore bonds worth 10.8 billion yuan ($1.48 billion) by three years, according to people with knowledge of the matter and documents seen by Reuters.

Mid-Atlantic region of the US, creating a mesmerizing spectacle witnessed by hundreds who promptly reported the sighting to the American Meteor Society. This meteor likely made its initial appearance at approximately 9:20 pm (local time), originating 47 miles above the town of Forest Hill in Maryland. It blazed northwestward across the sky at a breathtaking speed of 36,000 miles per hour, as indicated by the NASA Meteor Facebook page.

The seasonally adjusted S&P Global India Services PMI Business Activity Index recorded an expansion in new business for the consecutive 25th month. A value of above 50 denotes expansion. «Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects,» De Lima said. Strong services growth and capital spending pushed India's GDP growth to a four-quarter high of 7.8% in the first quarter of FY24, according to data released last week.

MUMBAI : High networth investor (HNI) and retail inflows into midcap and small cap stocks have helped these constituents steal the thunder from large-caps in the latest market rally from March to date. The Nifty Smallcap 100 index has surged 40.53% while the Nifty Midcap 100 has risen 35% from 20 March through 5 September.

NEW DELHI : Electronic permits for goods shipped within and across states shot up to an all-time high of 93.4 million in August, pointing to brisk economic activity which could boost Goods and Service Tax (GST) revenue collections in September. The high frequency indicator aligns with manufacturing PMI data for August which suggested strong demand and output growth in August. The sharply higher e-way bill data points to businesses pushing supplies to the market as the festive season kicks in.

NEW DELHI : India’s services sector growth slowed down in August after registering a 13-year high in July, a private survey said, still recording one of the best sales performances over the same period at a time of elevated inflationary pressures. The S&P Global India services Purchasing Managers’ Index (PMI) fell to 60.1 in August, from 62.3 in July. The figure stood at 58.5 in June and 61.2 in May.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.

Unified Payments Interface (UPI) has the potential to scale almost ten times and reach a couple of billion transactions a day by 2030, National Payments Corporation of India (NPCI) chief executive officer Dilip Asbe said on Tuesday. Asbe’s comments come as UPI transactions in the country hit the 10-billion mark in August.

By Shristi Achar A and Amruta Khandekar

₹5,517 crore ($667 million) through its lending platform, the company said in a press release. The company's merchant payment volumes (GMV) increased by 43% year-on-year to ₹3 trillion ($36.3 billion) in July-August 2023, up from ₹2.1 trillion in July-August 2022. Paytm continued to see an increase in GMV of non-UPI instruments like EMI and cards, said the release.

Coal India Limited stood at 45.33 MT as of August-end, registering a year-on-year growth of 45.66%. "This higher coal stock position indicates commitment of maintaining an ample supply of coal by the ministry of coal and highlights effective stock management strategies and operational efficiency," the ministry said.

bonus shares. «The Board of Directors of the company considered, approved and recommended a bonus issue of 2 equity shares for every 1 equity share held by the shareholders as on the record date,» the company said in a filing. The record date is yet to be determined by the company and will be informed to the exchanges soon. The proposed bonus issue is subject to approval at the AGM and will be completed within two months from the date of announcement. A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

KYIV (Reuters) -Ukrainian parliament approved the removal of Oleksii Reznikov as defence minister and Rustem Umerov as head of the main privatisation agency on Tuesday, clearing the way for Umerov to take over from Reznikov.

(This Sept. 1 story has been corrected to change Jake Jolly's title to head of investment analysis in paragraph 10)

Investing.com — Oil prices fell Tuesday, retreating from their highest levels this year as weak Chinese services activity data pointed to more headwinds for the world’s second largest economy, and largest crude importer.

By Steve Scherer

Manipur Human Rights Commission (MHRC), Manipur government has taken steps to depute specialist doctors and other health workers at the Foreigners Detention Centre, Sajiwa (Imphal) where 136 foreigners, mostly Myanmarese, have been lodged. MHRC Chairperson Justice (Retd) Utpalendu Bikas Saha recently visited the place. After the visit to the Superintendent Manipur Central Jail, Sajiwa requested the Director of Manipur Health Services to depute two medical officers, one gynaecologist, two male and two female nurses, a pharmacist and a medical attendant at Foreigners Detention Centre, Sajiwa. The Foreigners Detention Centre, Sajiwa was set up on February 16 this year and presently 136 foreigners, mostly Myanmar nationals, including 24 women and 6 minors are lodged in the Centre. The Central Jail Superintendent in his letter to the Health Director said that recently, the Chairperson of MHRC on his visit to this Detention Centre expressed his dissatisfaction with the health care facilities being provided to the inmates at the Detention Centre, specially unavailability specialist Gynaecologist. Presently, two lady medical officers and one lady staff nurse are posted at the center.