Awards Financial News

Finance Secretary T V Somanathan on Thursday said the Terms of Reference of the 16th Finance Commission have been kept short to give the panel more freedom to arrive at their recommendations after hearing out stakeholders. The Union Cabinet, chaired by Prime Minister Narendra Modi, earlier this week approved the Terms of Reference (ToR) of the 16th Finance Commission, which will make recommendations for the five-year period beginning April 1, 2026.

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Udaipur (IIMU) has announced that it will set up the JM Financial Centre for Financial Research in collaboration with JM Financial, an integrated and diversified financial services group. The centre will provide scholars in finance and related disciplines access to world-class resources. The JM Financial Centre for Financial Research at IIMU will engage in academic research in finance and related disciplines, conduct annual workshops, and industry talks, and partner with the BFSI sector and regulatory bodies for action research and seminars.

₹8 crore on Friday. On November 29, the makers of Sam Bahadur hosted a special screening for the film fraternity. Vicky Kaushal's wife Katrina Kaif and his parents, veteran action director Sam Kaushal and Veena Kaushal, also attended the event.

Man Infraconstruction. These institutional investors invested in Man Infraconstruction company via preferential offer route. The board of directors of the company approved share allotment to these fund houses at a price of ₹155 per share.

Henry Kissinger, a controversial Nobel Peace Prize winner and diplomatic powerhouse whose service under two presidents left an indelible mark on U.S. foreign policy, died on Wednesday at age 100, according to his geopolitical consulting firm Kissinger Associates Inc.Kissinger died at his home in Connecticut, Kissinger Associates said.Kissinger had been active past his centenary, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea.

Manipur. The rally was organized under the aegis of Zo United, a Civil Society Organisation parent body for all Kuki-Zo kindred Tribes in Manipur. Albert Renthlei Convenor of the Zo United stated that the rally is to speed up the demand for separate administration for the Kuki, Zomi, Hmar and Mizo ( ZOs) while progress towards the grant of separate administration has been slow . People denounced the Manipur state government and held placards like “Separate administration is the only solution”, “Metei government, down, down”, “Tribal area, tribal government” and “No solution, no rest”. The organisation stated, “The Kuki-Zo kindred family have endured seven months of ethnic cleansing attack by the majority Meiteis, who controls the government, and the Kuki-Zo kindred family have borne the brunt of the violence with 203 villages totally burnt down, more than 7000 house burnt down to ashes, 152 souls have lost lives and more than 50,000 displaced.

Essar Oil UK will invest $3.6 billion into a range of energy-efficiency and carbon-capture initiatives over the next four to five years. This will enable the company to decarbonise its production processes by 2030, its chief executive said. «Our focus is to decarbonise all the production processes,” Deepak Maheshwari said. Of the $3.6 billion, $2.4 billion will be invested at its site in Stanlow, between Liverpool and Manchester in the UK, and $1.2 billion in India. The investment, he said, will come from the company's own cash flows, a mix of debt and equity, and the UK government's subsidy for low-carbon initiatives which is termed as ‘contracts for difference’. Essar had in February announced the launch of Essar Energy Transition, an initiative to create an energy transition hub in Northwest England. »We see ourselves in a very unique position...by the time all government approvals are received, we would have implemented at least two of our hydrogen projects.

Henry Kissinger, a controversial Nobel Peace Prize winner and diplomatic powerhouse whose service under two presidents left an indelible mark on U.S. foreign policy, died on Wednesday, according to Kissinger Associates Inc. Kissinger died at his home in Connecticut, Kissinger Associates said. Kissinger had been active past his centenary, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea.

MUMBAI : Lenders to Go First plan to scout for litigation finance to bring home up to ₹12,000 crore tied up in various lawsuits, two people aware of the development said, as the bankrupt airline stares at likely liquidation. The amount includes an arbitration award that it won against engine maker Pratt & Whitney at the Singapore International Arbitration Centre (SIAC) earlier this year, as well as several other lawsuits under way.

JSW Infrastructure on Wednesday said it has signed an agreement with the Karnataka government to develop a Rs 4,119 crore greenfield port project in the southern state. The agreement has been signed between its subsidiary company Masad Infra Services Pvt Ltd and Karnataka Maritime Board, JSW Infrastructure said in an exchange filing.

Amrit Brikshya Andolan launched by the Government of Assam received fitting recognition, as the state created nine Guinness World Records in nine different categories. Chief Minister Himanta Biswa Sarma received the certificates from Guinness World Record Adjudicator Swapnil Dangarikar at a function held at Srimanta Sankardev Kalakshetra here today. Sarma launched Amrit Brikshya Andolan and as a part of the drive a total of 1,11,17,781 seedling of commercially valuable tree species were planted across the State on a single day on 17 September, 2023. The entire exercise was carried out in Jan Bhagidaari model, through active involvement of the Self-Help Group Members, ASHA Workers, Anganwadi Workers, educational institutions, police personnel including VDP, tea garden workers, government officials and other citizens. During Amrit Brikshya Andolan started by the Department of Environment and Forests attempts were made to create Guinness World Records.

Amitabh Bachchan hosted quiz show Kaun Banega Crorepati is its 15th season now. The mass favourite show for decades now, is running its Juniors week, which saw a 12-year-old Mayank become the youngest winner of ₹1 crore. ‘KBC Juniors Week! started with rollover contestant Mayank, from Mahendragarh, Haryana.

Torrent Power rallied more than 21% on Wednesday’s trading session, hitting a new high to ₹1,004 per share on National Stock Exchange (NSE) amid heavy volumes. The stock was trading at ₹988 per share at 9:50 am IST on November 29, up by 15% from the opening price of ₹858 apiece. A cumulative of 3.4 million shares were traded on both NSE and BSE, contrasting with the one-week average volume of 600,000.

Michael Douglas said after receiving the Satyajit Ray Lifetime Achievement Award at the closing ceremony of the International Film Festival of India (IFFI) here on Tuesday. The 10-day film gala concluded with 'Endless Borders' from Germany winning the coveted Golden Peacock Award for the best film, while Deepak Kumar Mishra-directed Prime Video show «Panchayat» season two bagged the best OTT series award, which was introduced for the first time. Goa chief minister Dr Pramod Sawant felicitated Douglas with the Satyajit Ray Lifetime Achievement Award at the ceremony.

International Film Festival of India (IFFI) concluded in Goa on Tuesday. The closing ceremony witnessed “Endless Borders" winning the Best Film Award. Actor-director Rishab Shetty bagged the Special Jury Award for his film Kantara, veteran Hollywood actor and producer Michael Douglas was honoured with the Satyajit Ray Lifetime Achievement Award and Panchayat Season 2 makers picked up the Best Web Series Award.

Google LLC has initiated legal proceedings against three anonymous individuals, accusing them of orchestrating a sophisticated malware distribution scheme under the guise of offering upgrades to Google's AI chatbot, Bard. The lawsuit, filed on November 13, 2023, in the Northern District of California, San Jose Division, identifies the defendants as «Does 1-3,» reflecting Google's current lack of specific identification.

₹89,153 crore in the September quarter (Q2FY24), up 72% year-on-year. L&T’s order prospects pipeline as of September 2023 also looks strong at ₹8.8 trillion. The engineering, procurement and construction major expects to surpass its order inflow target of 10-12% and revenue growth forecast of 12-15% for FY24.

Sri Lanka has paved the way for a $4.5 billion investment by China in Hambantota. The town, which also houses a port that was leased to a Chinese state-owned shipping company in 2017, is at the heart of India’s concerns about growing Chinese influence in New Delhi’s strategic backyard. Mint take a look at the announcement and its implication.

DB Realty jumped 3.42% to ₹211.40 apiece in early trade on Tuesday. In a significant development, the company's promoter group has sold 1.46 crore shares, representing a 2.91% stake in the company. The sale of these shares generated a substantial sum of ₹301 crore.

₹9.75 crore in its advance bookings on Monday, November 27. So far, a total of 3,34,173 tickets have been sold across 7,200 shows in India, according to Indian film trade portal Sacnilk. For Hindi 2D shows, as many as 2,73,425 tickets have been booked in advance, while 58,465 tickets are booked for Telugu 2D shows, followed by 1,504 tickets for Kannada shows and 779 for Tamil shows.