2020 Financial News

Supreme Court on Friday restored China Development Bank, Exim Bank of China, Asset Care and Reconstruction Enterprises and others as financial creditors in the insolvency process of Reliance Infratel Ltd, which is now acquired by Reliance Project & Property Management Services, a subsidiary of Reliance Jio Infocomm. A Bench led by Abhay S Oka struck down a 2022 order of the National Company Law Appellate Tribunal that declassified these four indirect creditors of Reliance Infratel including China Development Bank, etc as financial creditors of the beleaguered telecom company. Reliance Infratel’s resolution professional had earlier admitted claims worth Rs 41,055 crore from 35 financial creditors, including Rs 10,952 crore of China Development Bank and other three creditors.

Isuzu Motors has reached a production milestone by rolling out one lakh vehicles from its manufacturing facility near Chennai, the company said on Friday. A maroon Isuzu D-MAX V-Cross was rolled off the assembly line, marking the occasion at the facility located in Sri City, Tada, about 100 km east of Chennai. Isuzu Motors India began operations in 2016 and, in 2020, launched its phase-II operations with the inauguration of a state-of-the-art press shop facility and an engine assembly plant. «At Isuzu Motors India, we take immense pride in our journey here in India. Over the years, the company has achieved significant milestones in both production and exports. One key highlight is that about 22 per cent of our production line workforce comprises talented women,» company president and managing director Rajesh Mittal said.

Subscribe to enjoy similar stories. NEW DELHI : The Supreme Court on Friday upheld the claims, amounting to more than ₹10,952 crore, of four indirect creditors of Reliance Infratel Ltd, the tower and fibre business of Anil Ambani's telecom company Reliance Communications Ltd (RCom). Reliance Infratel’s total debt exceeds ₹41,055 crore.

The Series C funding round valued the company at $2.1 billion and the investment will be used for further global growth strategy, bolttech said in the statement. That is 31.3% higher than the $1.6 billion disclosed in its previous Series B funding round in May 2023.

This growth is driven by the inauguration of the Gurugram stretch in March 2024 and the near completion of the Delhi stretch, fuelling residential activity. The total annual residential new supply in Dwarka Expressway has surpassed the 10,000-unit threshold since 2020, compared to 5,000–7,000 new units launched per year in the pre-pandemic period.

China has maintained its substantial military presence along the Line of Actual Control (LAC) with India since the Galwan Valley clash in June 2020, according to the latest Pentagon report released on Wednesday. Despite some troop disengagements in certain areas, the People's Liberation Army (PLA) has not scaled back its positions or numbers. «PLA has not drawn down its positions or troop numbers since the 2020 clash and has built infrastructure and support facilities to maintain multiple brigade deployments along the LAC,» the report states. The Pentagon's annual assessment indicates that China has kept approximately 120,000 troops stationed along the 3,488-km-long LAC, which stretches from Ladakh to Arunachal Pradesh. In addition to the soldiers, the PLA has stationed heavy weapon systems, including tanks, howitzers, surface-to-air missiles, and other advanced military equipment. The report further highlights that over 20 combined arms brigades (CABs) remain in forward locations across the western, middle, and eastern sectors of the LAC.

China Sea to Himalayan frontiers, Beijing’s methodical approach has left neighbouring countries scrambling to respond. China shares its border with more than a dozen countries and it has had border disputes with at least six of them over the past few years. On its border disputes with its neighbors, China has mostly gone unchallenged, gradually pushing its salami-slicing strategy forward. But 2024 was a turning point: India was the first country in past few decades to decisively stop China in its tracks and refuse to yield to its tried-and-tested game. India’s resistance proved to be a firm message that China’s expansionist ambitions can't always go unchecked.

Federal prosecutors say a Vermont military contractor will pay nearly half a million dollars to settle allegations that it used some foreign-sourced materials in certain protective eyewear it sold

A grand jury in Washington has returned an indictment against former Congressman David Rivera for failing to register as a foreign agent of a sanctioned Venezuelan media tycoon on whose behalf the Miami Republican allegedly lobbied the Trump administra...

MacKenzie Scott continues to make medical debt relief a priority in her mysterious giving

The Canadian dollar’s slide continued Wednesday amid expectations for a slower pace of rate cuts from the U.S. Federal Reserve.

Donald Trump 47th President. The election was preceded by an entire year of campaigning, and a neck-and-neck competition between the Democrats and the Republicans. As Democrat nominee and US Vice-President Kamala Harris and Trump vied for the White House, India became the talk of the election. With 2.6 million eligible Indian-American voters — according to data from the Carnegie Endowment for International Peace — the Indian diaspora’s growing political significance was felt in key US swing states. These states, which were won by Trump, accounted for a significant number of Indian-American votes. Data suggested that there was a shift in the attitude of US voters of Indian origin this year. A large number of them shifted from Democratic Party to Republican Party in this election.

Dutch Data Protection Authority (DPA) said on Wednesday it fined Netflix 4.75 million euros ($4.98 million) for not properly informing customers about its use of their personal data between 2018 and 2020. The investigation, which started in 2019, showed that «Netflix did not inform customers clearly enough in its privacy statement about what exactly Netflix does with those data,» the DPA said in a statement. «Furthermore, customers did not receive sufficient information when they asked Netflix which data the company collects about them. These are violations of the General Data Protection Regulation (GDPR),» the watchdog said.

Japan’s biggest bank has apologized after an employee allegedly stole more than 1 billion yen ($6.6 million) from customers' safe deposit boxes

The Office of the Australian Information Commissioner had alleged that personal information of some users was being disclosed to Facebook's personality quiz app, This is Your Digital Life, as part of the broader scandal. The breaches were first reported by the Guardian in early 2018, and Facebook received fines from regulators in the United States and the UK in 2019.

Subscribe to enjoy similar stories. India’s farm sector has long been bonded to the state. The supply of major crops is responsive not to price signals that reflect actual demand, but mostly to minimum support prices (MSPs) set by the government, which is widely seen by farmers as their buyer of first and last resort.

(Bloomberg) — Canadian Finance Minister Chrystia Freeland resigned from Prime Minister Justin Trudeau’s cabinet because of differences over how to prepare for the Trump administration, a stunning move that shakes the government.

Subscribe to enjoy similar stories. The origin story of Nvidia has yet to attain the status of technology myth. It isn’t Hewlett and Packard in their garage in Palo Alto, Calif., or Gates and Allen raising hell with the Lakeside School programmers’ group.

mass elephant die-off in Botswana in 2020. A new study published in -Science of the Total Environment- confirms toxic cyanobacteria, also known as blue-green algae, poisoned over 350 elephants near the Okavango Delta. The first elephant carcasses were discovered in May 2020, sparking international concern. Researchers initially ruled out poaching, starvation, and common infections. The presence of some elephants found face down hinted at a swift collapse.

Delhi Pollution Control Committee has directed cow shelters and dairy farms in the city to obtain pollution control consent within 15 days, warning of strict action in case of non-compliance. The Committee issued a public notice on Sunday directing all 'gaushalas' and dairy farms with 15 or more cattle, and all dairies operating in dairy colonies in Delhi to apply for mandatory consent under the Water (Prevention and Control of Pollution) Act, 1974, and the Air (Prevention and Control of Pollution) Act, 1981. The directive has been issued in compliance with recent court orders and must be adhered to within 15 days of the notice, failing which legal action will be initiated. The notice follows the «Guidelines for Environmental Management of Dairy Farms and Gaushalas» issued by the Central Pollution Control Board (CPCB) as per the National Green Tribunal's (NGT) order on May 20, 2020.

«Congress has apologised for the Emergency but you are silent on various things you have done… Congress toppled elected governments, but you divided our state into two Union Territories, which was unnecessary,» he said. Communist Party of India (Marxist Leninist) Liberation MP Raja Ram Singh named activists like Stan Swamy, who was jailed in the Bhima Koregaon case and died in the prison, Umar Khalid, Gulfisha and Meeran Haider, who have been arrested on the allegations of links with the 2020 Delhi riots.