Country Financial News

Alta Capital has acquired Goldman Sachs' and Warburg Pincus' 100% stake in the country's largest student housing platform, Good Host Spaces, for $320 million, or nearly Rs 2,700 crore, said persons with direct knowledge of the development. Goldman held around 70% in the company that owns and operates third-party purpose-built, on-campus student housing assets across key universities including Manipal University, OP Jindal Global University and Shoolini University. «The deal with Alta Capital marks the complete exit of both Goldman Sachs and Warburg Pincus. While the talks were on for the last few months, the transaction was concluded last week,» said one of the persons mentioned above. Prior to this investment, Alta Capital, founded by Siddhartha Gupta, former managing director of Blackstone India, has invested $325 million in India's largest managed office spaces operator, Table Space, and $200 million in Pragati Warehousing.

MEXICO CITY (Reuters) — Mexico's economy, the second biggest in Latin America, could expand by 3.5% or more this year, a senior finance ministry official said on Wednesday, as one central banker flagged a «long battle ahead» to better corral creeping consumer prices.

By Seher Dareen

groundwater depletion tipping point and its entire northwestern region is predicted to experience critically low groundwater availability by 2025, according to a new report by the United Nations. Titled "Interconnected Disaster Risks Report 2023" and published by the United Nations University — Institute for Environment and Human Security (UNU-EHS), the report highlights that the world is approaching six environmental tipping points: accelerating extinctions, groundwater depletion, mountain glacier melting, space debris, unbearable heat and an uninsurable future. Environmental tipping points are critical thresholds in the Earth's systems, beyond which abrupt and often irreversible changes occur, leading to profound and sometimes catastrophic shifts in ecosystems, climate patterns and the overall environment.

Global financial flows to fossil fuels are substantial: the annual bank investment was $742 billion in 2021, and the total investment was $1.2 trillion. This is more than the investments of $653 billion for climate, estimated for 2020. Much of the capital is moving to oil and gas.

A senior Armenian official visited Delhi recently and held discussions in this regard, said people with knowledge of the matter. India has emerged as a credible weapons supplier as per Armenia's requirements, they said. Details of fresh supplies are not known yet but the consignment could include equipment that would help to create a deterrence amid the conflict-like situation with Azerbaijan, according to observers in Armenia, who did not wish to be identified. The last consignment sent by India to Armenia included Pinaka multi-barrel rocket launchers, anti-tank missiles, rockets and ammunition.

Country Garden Holdings Co. was deemed to be in default on a dollar bond for the first time ever, underscoring its fall into distress amid a broader property debt crisis that's shaken the world's second-biggest economy. Country Garden's failure to pay interest on the note within a grace period that ended last week «constitutes an event of default,» according to a notice to holders from trustee Citicorp International Ltd. seen by Bloomberg News.

NEW DELHI : Domestic steel consumption grew strongly in the first half of the financial year in a clear signal that Indian manufacturing continues on a robust growth path despite global headwinds. According to the latest steel ministry data, steel consumption in the April-September period of FY24 grew 15% to 64 million tonnes from the year-ago period.

₹300 crore over three years to rebuild the brand in India, initiate R&D activities and stock products. In the first phase, the firm will manufacture lead acid batteries for automobiles as well as home inverter, uninterruptible power supply systems and voltage stabilizers. Once the Daewoo brand is established, say with 1.5 years, the company intends to introduce consumer durables, such as LED televisions, air purifier and speaker systems, besides offering e-bikes and electric cycles.

NEW DELHI : Armenia is keen to expand its defence ties with India, its deputy foreign minister Mnatsakan Safaryan said, in the aftermath of its bitter conflict with Azerbaijan. “Armenia is diversifying its defence cooperation and this is a good opportunity to further enhancing Armenian-Indian ties in this field," Safaryan told Mint. The country has appointed a defence attaché to its Embassy in New Delhi in order to scope out potential for further cooperation, he added.

NEW DELHI : The Union cabinet on Wednesday cleared a ₹22,303-crore subsidy for phosphatic and potassic fertilizers for the rabi season that runs till the end of March. While the amount is sharply lower than the previous year, the government assured that farmers will remain protected since international fertilizer prices have fallen, reducing the need for hefty support. The cabinet also approved fresh rates under the nutrient-based subsidy (NBS) scheme for NPK (nitrogen, phosphorus, potassium) fertilizers.

₹933 crore. One brand—Rado, owned by The Swatch Group—is looking to ride that wave. The company this week signed on brand ambassador Katrina Kaif to attract more women luxury buyers.

MUMBAI : Indian stocks extended their decline for a fifth straight session on sustained selling by foreign and retail direct investors amid rising bond yields in the US, the Israel-Hamas war, which is now threatening to engulf other countries, and rising crude prices. Market experts expect stocks to fall further. Benchmark indices Nifty and Sensex fell more than 0.8% each to 19,122.15 and 64,049.06 on Wednesday as foreigners offloaded shares worth a provisional ₹4,236.6 crore and continued selling by retail, offsetting the ₹3,569.36 crore worth of buying by domestic institutions.

Lately, a surge of travel streamers has provoked ire from global audiences due to their disruptive actions, with one of the most notable figures being known as 'Johnny Somali.' Somali, currently residing in Japan, has faced confrontations from locals and fellow expatriates on multiple occasions due to his conduct, which includes shouting provocative statements like «Hiroshima and Nagasaki» at people in public spaces. At present, Somali has been arrested on two occasions, and Japanese authorities have even labeled such streamers as «nuisances.» Nevertheless, he is not the sole content creator responsible for causing disturbances in the country. Meanwhile, another YouTuber with 2.4 million subscribers apologised on Tuesday after a video of him and three others free-riding around Japan became the latest example of fame-seeking foreigners riling locals, as per an AFP report. The YouTuber known by the username Fidias posted a video over the weekend of the four riding trains and buses around Japan — in some cases without paying, AFP reported. In the video, Fidias hides in a toilet of a bullet train, pretends to be ill when confronted by a ticket collector, and then escapes to board another train where he pulls the same trick. Another clip shows him entering a hotel and pretending to be a guest in order to get free breakfast.

JSW Steel's plan to buy a stake in the metallurgical coal unit of Canadian-based Teck Resources, joint managing director and chief executive officer Jayant Acharya said. «We have been in discussions with Teck to look at opportunities for some kind of investment together. But that is still work in progress,» he told ET. «As far as the India-Canada relationship is concerned, I don't think that that is something which will impact business because these will be on a longer term.

The boss of one of Australia’s largest unions has cautioned investment funds against pushing too hard for large manufacturers in hard-to-abate industries to cut emissions faster than offshore rivals.

(Reuters) — Peru has landed a $300 million contingency loan with the Inter-American Development Bank (IDB), according to a notice in the country's official gazette on Wednesday, as efforts continue to jumpstart the economy amid a technical recession.

Global Market Intelligence, we will jump from our fifth spot to become the world’s third biggest by 2030, moving past Germany and Japan, with only China and the US ahead of us. At $7.3 trillion, our nominal GDP in 2030 would be more than double the $3.5 trillion figure for 2022. To a significant extent, S&P’s optimism stems from our young demographic profile and growing incomes, which make the country a vast market for businesses to serve.

Bank of India reported last week. China has seen an even steeper fall as the country turns inward. In a recent blog co-authored by Gill and M.

India and Japan on a Semiconductor Supply Chain Partnership, an official statement said on Wednesday. The memorandum of cooperation between the two countries was signed in July.

Chevron Corporation, the second largest oil company based in the United States is making a comeback in the Indian lubricants market after 12 years. Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation and state-run Hindustan Petroleum Corporation Ltd (HPCL) have entered into a 10-year long-term agreement to license, produce, distribute, and market Chevron’s lubricant products under the Caltex brand. The companies officially launched the Caltex brand in the Indian market on Wednesday. HPCL’s state-of-the-art manufacturing facility at Silvassa will manufacture Caltex lubricants.