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Subscribe to enjoy similar stories. Mumbai: China's Tencent Holdings Ltd is set to sell its stake in Dream11 parent Sporta Technologies Ltd, two people familiar with the development said, as the gaming unicorn moves to comply with regulations on Chinese investments. Singapore-based Tiga Investment Pte Ltd will acquire Tencent's shares for over $150 million, the people cited above said on the condition of anonymity.

Subscribe to enjoy similar stories. Can Pakistan break its IMF loan addiction? On Wednesday, the board of the International Monetary Fund (IMF) approved an “extended fund facility" worth $7 billion for the country. This would be its 24th bailout since 1958.

Subscribe to enjoy similar stories. A flurry of regulatory changes is about hit the stock market following a circular issued by Sebi, the market regulator. While these might be in the investor’s best interest, they might be bad news for brokerages.

WeWork Inc.’s plan to sell the 27% it holds in its Indian unit and exit the country has collapsed, according to three people aware of the matter. This comes after the Competition Commission of India (CCI) had approved the proposal. Along with the bankruptcy-hit WeWork Inc., the coworking firm’s local partner WeWork India, promoted by Bangalore-based realtor Embassy Group, was also slated to divest a 13% stake to a consortium of investors including the Enam group family office, A91 Partners and CaratLane founder Mithun Sacheti in a Rs 1,200 crore secondary transaction, as reported first by ET on April 22. The Indian real estate group holds 73% in the India unit while WeWork Inc. owns the rest. The deal cleared by the regulator, as per a June 18 order, involved a two-step process that would see WeWork Inc. and Embassy together selling a stake of about 40% to new investors.

Danone SA will be «irrelevant as a global player» if it is not committed to and does not have a strong presence in India, which is fast emerging as one of the world's largest markets and growth drivers for several consumer goods multinationals, said chief executive Antoine de Saint-Affrique. «In terms of priority, India is at the very top,» he told ET in an exclusive interview. «If we are not big in India, in 10, 15 or 20 years, we will be irrelevant as a global player. It's as simple as that.» Danone's chief executive said the company's optimism was based on India's stable political environment and thrust on infrastructure.

South Korea announced plans Thursday to compensate famers and others in the country’s dwindling dog meat industry before a formal ban goes effect in 2027, a move that is drawing opposition from both farmers and some animal rights activists

manufacturing hub is fuelling warehousing demand from manufacturing-related sectors with multinationals setting up factories in the country. Demand from these sectors climbed to 25% of total domestic warehousing demand in the first half of calendar 2024 from 15% in 2019 led by factors like adoption of the China plus one strategy by multinationals and supportive Indian government policies such as the production linked incentive (PLI) scheme, which currently covers 14 sectors. During H1 2024, total leasing of warehousing space from manufacturing-related sectors reached 4.1 million sq ft, according to CBRE South Asia, a real estate consulting firm.

North Macedonia’s conservative prime minister has reacted angrily to reports that his country’s troubled European Union accession bid hit a new hurdle because of a dispute with neighboring EU member Bulgaria

The Argentinian government statistics agency says the official poverty rate in Argentina jumped to 52.9% during the first six months of Javier Milei’s presidency

For some, it's internal matter While European diplomats got a taste of vibrant democratic process and free and fair elections in Jammu & Kashmir, some of India's close partners in Central Asia and Gulf were not part of the endeavour. They treat elections in the Union Territory as India's internal matter and have 'full trust and faith' in India's position and democratic journey. These countries are strong supporters of India's fight against terrorism. Jha’s Connection with AKD & Team Hours after Sri Lankan presidential election results were announced, Anura Kumara Dissanayake met Indian high commissioner Santosh Jha in Colombo last Sunday. Jha was the first envoy whom the new president met. On the very next day, Jha was the first envoy whom the incoming PM met. South Asia is often key testing grounds for diplomats and Jha, who has also served in Colombo in the past, has strong connections cutting across party lines in the island nation.

AM/NS India expects its operating profit and cash flows to grow by 2.5 times once the first phase of its expansion is completed by 2026, and four times from the current levels after the completion of its second phase of expansion, the company said at an investor meet on Wednesday. The company, a joint venture between global steel majors ArcelorMittal and Nippon Steel, is currently generating around $2.5 billion in operating profit and $1.7 billion in cash flows. Since its acquisition in 2019, the company has generated $5.8 billion of cash, which has been used for securing the supply chain and other strategic acquisitions. AM/NS India, whose operating profit per tonne has been lower than the average of its Indian peers since 2019, also has managed to close this gap and now has a higher operating profit per tonne than the average of its peers in the first half of 2024. This was done through a turnaround plan focusing on the operations, finance, sales, procurement efficiencies and debottlenecking capacities, the company said.

UPI should be charged or be conducted, as it has been since 2020, without a merchant discount rate (MDR) to boost digital transactions. Either way, technology adoption is at the fulcrum of the growth of digital financial services (DFS). With UPI at the forefront, NPCI has formed strategic partnerships with several countries to enable digital payments and facilitate cross-border transactions. These collaborations not only provide Indian expats with a familiar way to pay but also enhance financial inclusion, while improving cost- and time-efficiency of digital payments in these regions. By establishing UPI-based payment corridors with banks in West Asian and African countries, these initiatives are building a secure and reliable digital payment infrastructure that supports economic development. As instant payments grow, its influence on the economic landscape of these regions becomes increasingly evident. In India alone, DFS has played a critical role in expanding the digital economy 2.4 times more rapidly than the overall economy.

Former Bank of Canada governor Stephen Poloz is examining a list of ideas to get the country’s pension funds to invest more in the domestic economy — including the creation of a pooled fund that would make dealmaking easier for some of them.

TORONTO — The sale of Sleep Country Canada Holdings Inc. to Fairfax Financial Holdings Ltd. has received final court approval.

Pakistan's military said on Thursday that the country has signed a contract to sell JF-17 Block III fighter jets to Azerbaijan. The aircraft is co-produced by the Pakistan Aeronautical Complex and developed jointly with China, with whom Islamabad has grown increasingly close as ties with traditional military ally the United States have weakened over the last few years. The military did not provide the cost or quantity of jets agreed to, but said in a statement that the sale was part of Islamabad's efforts to enhance defence cooperation with friendly countries and bolster the air power capabilities of Azerbaijan.

Putin has now backed the threats with a revision of the country's nuclear doctrine. He has announced plans to broaden Russia's rules on the use of its nuclear weaponry, just when the West is considering allowing Ukraine to strike deep within Russia with long-range Western missiles.

₹130 crore, which were developed domestically as part of the National Supercomputing Mission. These advanced systems have been deployed in Pune, Delhi, and Kolkata to support cutting-edge scientific research.During the launch event, Prime Minister Modi stated, "This is a significant day for India in the realms of science, technology, and research. India is placing a strong emphasis on science and technology.

Japan finds out its next leader on Friday when the ruling party of outgoing Prime Minister Fumio Kishida picks his replacement in a key vote that could affect the country’s political stability in coming months

fabrication unit to be set up in India as a result of the agreement between New Delhi and Washington during PM Narendra Modi’s recent visit to the US will roll out chips that will cater to the national security needs of the two countries. As per a TOI report, the new plant, likely to come up in Uttar Pradesh’s Jewar, near the upcoming international airport, will supply advanced chips to the US armed forces, allied militaries and Indian defence forces. The cutting-edge semiconductor plant will produce chips for advanced warfare technologies, including night vision devices, missile-seekers, space sensors, drones, fighter jets, electric vehicles, military communications, radars and jammers, says the report.

France's BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling for the creation of more homegrown heavyweight banking champions.

Subscribe to enjoy similar stories. In 2024, India has taken the lead in global IPO volumes, with 178 companies debuting on the stock market. In the first half of 2024 alone, India accounted for 25% of global IPO activity.