2020 Financial News

By Blake Brittain

Maruti Suzuki on Thursday said its Board will meet on October 17 to consider and approve the issue of equity shares of the company to Suzuki Motor on a preferential basis. «A meeting of the Board of Directors is scheduled to be held on October 17 to consider and approve the issue of equity shares to Suzuki Motor Corporation (SMC) on a preferential basis for consideration other than cash, to discharge the consideration payable by the company for acquisition of 100% equity stake of SMC in Suzuki Motor Gujarat Pvt Ltd,» the company said in a filing. Earlier in July, Maruti Suzuki India had received board approval to acquire Suzuki Motor Gujarat (SMG) from its Japanese parent SMC. SMG was a wholly-owned subsidiary of Suzuki Motor Corporation and recorded a turnover of Rs 31,853 crore for FY23. The automaker expects to complete the transaction by the end of the current financial year. In terms of actual production, logistics, sales and the costs thereof, there will be no change, as the cars earlier supplied by SMG as a contract manufacturer, will now continue to be supplied as before, the company said. In 2014, the Japanese automaker proposed to set up a separate manufacturing unit in Gujarat, to tap the fastest-growing demand. With an aim to tap domestic demand and drive exports from India, Suzuki Motor established SMG in March 2014.

The SEC ordered a Delaware investment advisory firm to pay $1.3 million to settle charges that it placed clients in expensive mutual fund share classes without disclosing related conflicts of interest.

By Nupur Anand

Jaideep Kaur (30) and her husband Mohit Randhawa (32), an IITian, found themselves in an unexpected and frightening situation as they faced the relentless wail of sirens in Israel. The couple, who had been married since 2020, never anticipated such a situation until the recent events that unfolded.

KUALA LUMPUR (Reuters) — A Malaysian government task force said on Thursday it viewed Goldman Sachs' filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal.

information commissions are completely defunct and six other commissions are functioning without a chief, an annual independent study has found. State information commissions in Jharkhand, Telangana, Mizoram and Tripura are non-functional since the serving commissioners have retired and no new appointments have been done. An independent annual study conducted by Satark Nagarik Sangathan on the eve of 18 th anniversary of Right to Information Act implementation has revealed that Jharkhand information commission has been defunct for over three years.

Finnish police say they have launched a criminal investigation into possible sabotage of an undersea gas pipeline between Finland and Estonia that was shut down over the weekend following a leak

Pro on-chain DeFi and NFT analytics platform Parsec has secured $4 million in an investment round. 

Birkenstock shares have tumbled in their debut on the New York Stock Exchange as Wall Street traded in its wingtips for sandals for a day

(Reuters) -Goldman Sachs Group is suing Malaysia in a UK court, a source familiar with the matter told Reuters, as tensions escalate over a settlement linked to its role in the 1MDB investment-fund scandal.

Will Smith and Jada Pinkett Smith have been a prominent couple in the entertainment industry for over two decades. From their early days of dating to recent revelations about their relationship, their journey has been a rollercoaster. Here's a closer look at their relationship timeline:

It’s back to the future at Adore Beauty, which floated at $6.75 a share three years ago and sunk to just 82¢ as of Wednesday evening.

NEW DELHI : The People’s Bank of China (PBoC) continues to own shares worth at least ₹25,000 crore across 20 major Indian companies, including Tata Consultancy Services (TCS) Ltd, Infosys Ltd, Hindustan Unilever Ltd and Vedanta Ltd, despite escalating geopolitical tensions between the two nations over the past three years, company filings showed. Infosys and ICICI Bank are PBoC’s biggest portfolio holdings in India. The Chinese central bank owns 0.8% of Infosys, worth ₹4,678 crore, and 0.7% of ICICI Bank, worth ₹4,583 crore at current prices.

NEW DELHI : Japan’s premier international cooperation and development agency, JICA, is interested in partnering with India in infrastructure projects in Southeast Asia, Africa and the Pacific, said JICA India chief Saito Mitsunori. He also pointed to JICA’s plans with the newly announced Bay of Bengal Northeast Corridor, which aims to build infrastructure in India and Bangladesh and construct a new industrial value chain.

Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.

undergraduate programmes will have to mandatorily do internships and they will be awarded credits for it, according to new draft guidelines of the University Grants Commission (UGC). The draft of the «Guidelines for internship and research internship for undergraduate students» was released on Tuesday in line with the National Education Policy (NEP) 2020 that emphasises the inclusion of research and internships in the undergraduate (UG) curriculum to provide opportunities to students for active engagement in on-site experiential learning.

Hoda Kotb, Jada Pinkett Smith has unveiled an aspect of her relationship with husband Will Smith that has remained undisclosed. Jada Pinkett Smith disclosed that there's more to her marriage than she has previously shared with the public.

Joly held a «secret meeting» with her Indian counterpart S Jaishankar in Washington last month, a media report has said, amid a diplomatic row between the two countries over the killing of a Sikh separatist leader in June. The report by the Financial Times on Tuesday came even as Canada is yet to comply with India's communication to Ottawa to withdraw over three dozen of its 62 diplomats in the country. The Ministry of External Affairs declined to comment when asked about the reported meeting.

BJP and the Congress in Madhya Pradesh traded barbs on Wednesday after the governing party said that its rival was responsible for India's partition and it was now trying to create a divide among Hindus by raising the issue of caste survey. In its counter, the Congress sought to know if the BJP considers OBCs (Other Backward Classes) as Hindus. The Congress has welcomed the Bihar government's exercise to collect data on castes in the state and urged the Centre to carry out a similar exercise at the national level.

By John Kruzel