Aware Financial News

NEW DELHI : Saudi Arabia, the world’s second largest oil producer, has slashed the premium charged on exports to India while many others have discontinued it altogether, a person aware of the matter said, after India began sourcing the bulk of its energy requirements from Russia. Asian premium is an extra amount levied by the Organization of the Petroleum Exporting Countries (Opec) from Asian countries above the actual selling price. India has repeatedly pressed oil producers to eliminate this premium and even asked for an ‘Asian discount’ instead.

NEW DELHI : India is facing criticism from several World Trade Organization (WTO) members for failing to notify the trade body of its numerous export restrictions to secure domestic food supplies before national elections next year, three people aware of the development said. Commerce secretary Sunil Barthwal will chair a high-level meeting on Friday to potentially discuss India’s priorities at WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi in February and chalk out arguments explaining New Delhi’s stance on the issue. This comes as India, the largest rice exporter, imposed curbs on exports of the commodity after a rainfall deficit during the monsoon triggered food security concerns.

New Delhi: Bengaluru-based fintech firm Perfios has acquired Chennai-based open finance platform Fego.ai, two people aware of the development told Mint. The discussions started during Global Fintech Fest 2023 in Mumbai recently. The deal was closed this week.

MUMBAI : Adani Green Energy Ltd, which is planning to raise $1.5 billion, may secure a big chunk of it from French energy giant TotalEnergies SE, two people aware of the matter said. The Gautam Adani-led group’s renewables firm will use $750 million of this amount to repay bonds. “Adani Green has got an approval to raise $1.5 billion this fiscal for capex and debt repayment.

electric vehicle (EV) tech startup MoEVing, said two people aware of the development, seeking anonymity. The potential deal is likely to facilitate Stride’s entry into the last-mile EV financing sector, which is expected to witness significant growth in the coming years. The deal could value MoEVing at ₹100-120 crore and will facilitate early investor JSW Ventures’ exit, they added.

aviation ministry, a person aware of the matter said. “According to the DGCA, Akasa Air is eligible to apply for international scheduled air transport services," the ministry informed the airline. “However, it is also informed that based on traffic rights to be allocated to Akasa Air, scrutiny of country-specific preparedness will be carried out by the DGCA before permitting Akasa Air to operate international operations." Since 2019, Indian airlines have shown strong interest in expanding their presence in the international market due to the potential for higher yields.

1. Live Chat Immediate assistance is available through live chat, ensuring quick responses to queries and concerns. The contact form on Hankotrade's website allows traders to submit detailed inquiries or requests.

International Cricket Council (ICC) have confirmed three major USA cities: Dallas, Florida and New York, as the venues for the ICC Men’s T20 World Cup 2024. The USA is set to host the T20 World Cup for the first time, with Grand Prairie in Dallas, Broward County in Florida and Nassau County in New York chosen as the venues for the grand event.

Global Biofuel Alliance. In this editorial, we will dig into this agreement and find out how India benefits from this. Read on… Biofuels are fuels from biomass such as animals, plants and algae.

I work for a top French bank in Paris and I am upset with the culture here. There is a huge amount of nepotism.

Losing a job is never easy, but if you lose your job in a bank the transition is generally so abrupt that however much you’re aware of the inherent likelihood of being cut at some point in your career, it will come as a shock.

Peak XV Partners, formerly Sequoia Capital India, is in talks with internet-first direct-to-consumer (D2C) luggage brand Mokobara for an investment that could value the startup at $65-80 million, multiple people aware of the discussions said.

Flipkart is allocating about $15-20 million for the credit marketplace startup being set up internally by its senior executive Prakash Sikaria, multiple people aware of the matter said. Sikaria – a senior vice president at the firm who was heading the firm's social commerce offering Shopsy and steering its growth charter – is building a credit marketplace that would be housed as a Flipkart entity, where the new capital would be invested.

Pakistan is reportedly courting the United States to seek financial support to boost its sagging economic fortunes while sidestepping commitments made to China on the China Pakistan Economic Corridor (CPEC), the flagship initiative under China’s Belt and Road Initiative (BRI). The Pakistani leadership that came to power after Imran Khan was paying lip service to China on the CPEC while engaging the US for a bailout, said people aware of the matter. Work on the CPEC has been delayed by several months and the India-Middle East Europe Corridor is expected to rival the BRI, they said. The current caretaker government in Pakistan is reportedly seeking the help of the West for a bailout instead of approaching its all-weather ally China despite the latter’s attempts at various international fora to back Pakistan.

A federal judge has halted implementation of a California law intended to restrict companies’ use of information gathered from young internet users in order to protect the privacy of minors

NEW DELHI : A crash in tomato prices in parts of the country has prompted the government to consider purchasing them to protect farmers, two officials aware of the matter said. The idea is to use the consumer affairs ministry’s price stabilization fund (PSF), typically used to cool vegetable prices, to lift stocks from areas flooded with tomatoes and sell them in markets nearby where prices are more remunerative.

Dhanlaxmi Bank was planning a dramatic exit from the board of the Kerala-based lender, another story was unfolding. The bank's largest shareholder had initiated a special resolution to remove the same director from the board a few days before he raised strong accusations against other directors in a letter addressed to the board, which was filed with stock exchanges. In his letter addressed to the board, the largest shareholder, B Ravindran Pillai, proposed «removal of Mr Sridhar Kalyanasundaram from the board of directors», said two people aware of the development at the bank. Pillai proposed a special resolution at the annual general meeting scheduled on September 30 to remove Kalyanasundaram. Pillai holds a 9.99% stake in the old-generation private bank. The bank's managing director and CEO JK Shivan declined to comment on the matter.

Three former Columbus Zoo and Aquarium executives engaged in a pattern of corrupt activity that cost the facility more than $2.2 million

cyber security threats and zero day attacks as leading western countries due to its geopolitical importance, said cybersecurity executives. Speaking to ET, on the sidelines of the m-WISE Mandiant Security conference, cybersecurity experts said that in general, the threats across the Japan and APAC region have been on the rise.

life insurance by themselves, according to a recent data analysis by PolicyBazaar. Term life insurance is gaining popularity among homemakers, despite the fact that they don't have any fixed source of income. The data found that 45% of homemakers are actively involved in the decision-making process with their husbands when purchasing term insurance for themselves.

The president of the Dominican Republic is defending his decision to close air, sea and land traffic with neighboring Haiti in a dispute over construction of a canal targeting a river that runs through both countries