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Vedanta Resources, the London-based parent of India's oil-to-metals conglomerate Vedanta, is close to finalizing a $1.25 billion loan availed jointly from Standard Chartered Bank and Cerberus Capital Management that could help it avert a default on bonds due in January, said people aware of the matter. Standard Chartered Bank will underwrite $950 million of the $1.25 billion financing while New York-based Cerberus Capital will cover the remaining $300 million, the people said requesting anonymity. Other credit investors could join as Standard Chartered Bank is expected to distribute or «sell down» its share of the loan, they added. The loan could have a tenor of about three years with interest rate in the 'high teens', the people said. Standard Chartered Bank is in talks with Davidson Kempner, Ares Management and Varde Partners to distribute a portion of its $950 million loan commitment. Vedanta Resources confirmed to ET that it was close to finalising the financing arrangement. «We are in the process of finalising the raising of $1.25 billion for the purposes of refinancing and managing our upcoming maturities,» said a spokesperson for Vedanta Resources.

hospital admissions entailing an expenditure of Rs 77,298 crore have been authorised under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana till November 30, Union Health Minister Mansukh Mandaviya told Lok Sabha on Friday. As of December 2, a total of 26,774 hospitals, including 11,733 private facilities, across the country have been empanelled to provide healthcare services to the scheme beneficiaries, he said, adding that 4.98 crore claims have been submitted between financial years 2020-21 and 2023-24 as of November 30. The AB PM-JAY is the largest publicly funded health assurance scheme in the world which aims to provide health cover of Rs 5 lakh per family yearly for secondary and tertiary care hospitalization to 12 crore families, the Union health minister said.

Adani Group Chairman Gautam Adani on Friday said that Adani Total Gas Ltd is on target to install 75,000 electric vehicle (EV) charging stations by 2030. Taking to social media platform X (formerly Twitter), Adani said that the enterprise is carrying out ‘massive expansions’ with CNG and PNG and through its Greenmosphere initiative, has also planted 2,20,000 trees. «Adani Total Gas Ltd is on the move! Our massive expansion continues with CNG and PNG, compressed biogas, and e-mobility. We are on target for installing 75,000 EV charging stations by 2030,» Adani said, adding that all of the company's own 50 sites are now powered by rooftop solar panels.

debt of developing countries surged to 29% of GDP in 2021 from 19% in 2010. As the debt level rose, the profile of external public debt also changed. Paris falling The share of multilateral institutions and the Paris Club, which was 83% of the total external debt of 73 countries — the debt servicing of which was suspended in 2020 under the G20 Debt Service Suspension Initiative (DSSI) in 2006 — fell precipitously to 58% in 2020. China rising The share of other official and private creditors — the non-Paris Club members, including China, India and Saudi Arabia — rose sharply to 42% in 2020 from 17% in 2006.

By Terje Solsvik

NEW YORK (Reuters) — U.S. job growth accelerated in November and the unemployment rate dropped to 3.7% even as more people entered the labor force, pointing to underlying strength in the labor market.

A credit card balance transfer involves moving the outstanding balance from one credit card to another, usually to take advantage of lower interest rates. Credit card balance transfers can help in managing high-interest debt more effectively by consolidating it onto a single card with a lower interest rate, potentially saving money on interest payments.

Vladimir Putin, who has been governing the nation since the turn of the century has said that he will run for the post in the 2024 polls. Vladimir Putin was shown by state media saying he would run for a new six-year presidential term in 2024. Putin was answering a question on the subject from Artyom Zhoga, a military officer.

Third party bike insurance is a type of two-wheeler insurance coverage where you get coverage for all third-party liability expenses. The covers under this type of policy include: If you happen to damage a third-party vehicle with your vehicle, you will have to compensate the owner for the damages incurred. This can be quite expensive.

Fashionistas can smell blood. Luxury brands need to find ways to unload their growing pile of unsold stock without reeking of desperation. The luxury industry is slowing as shoppers sober up after their pandemic spending spree.

President Joe Biden is heading to Las Vegas to showcase $8.2 billion in funding for 10 major passenger rail projects across the country

Bengaluru, an auto driver took up the challenge of helping a passenger catch a missed train at the next stop. As per a TOI report, Adil Hussain had missed his train, the Prashanti Express, which was scheduled to depart from SBC station at 1:40 PM. Due to work commitments and heavy traffic, he was unable to board the train on time and it left the station before he could reach there.

Atletico Madrid, a top-tier Spanish football team, is apparently getting ready to file a lawsuit against WhaleFin, a cryptocurrency exchange located in Singapore, for failing to pay sponsorship money of forty million euros, which is equivalent to forty-four million dollars. Prior to the 2022–2023 season, the club had reached an agreement with WhaleFin covering a period of five years. WhaleFin was going to be one of the primary sponsors of the club, and it was going to be installed. However, Atletico Madrid asserts that WhaleFin violated the terms of the contract by failing to make the payments that were agreed upon when the deal was signed. As a consequence of this, the club is requesting a compensation amount of twenty million euros, which is twenty-two million dollars.

carbon-neutral port operations and be Net Zero for APSEZ by 2040. Our climate-friendly transformation includes electrifying all cranes, switching all diesel-based Internal Transfer Vehicles to battery-based ITVs, and installing an additional 1000 MW of captive renewable capacity," the X post read. Gautam Adani also said his conglomerate is pledging mangrove plantations in about 5,000 hectares by the financial year 2024-25.

Marinetrans India IPO listing: Shares of Marinetrans India Limited listed on NSE SME Emerge platform at ₹30 per share levels, delivering 15.4% premium against the issue price of ₹26 per equity share. However, profit booking soon triggered and Marinetrans India share price hit 5 per cent lower circuit at ₹28.50 apiece levels within few minutes of stock listing. Marinetrans India shares have logged 8.56 lakh trade volume in first 13 minutes of share listing.

Canada's Immigration Minister, Marc Miller, announced a substantial increase in the financial criteria for international students applying for study permits, emphasising the government's commitment to safeguarding the integrity of the education system, CBC reported. Miller also issued a stern warning, threatening to «significantly limit visas» if provinces and educational institutions fail to take appropriate actions before the upcoming fall term. Do you meet the immigration criteria? Check here The decision also extends the temporary lift on the 20-hour work limit for international students, now extended until April 30, 2024. Miller outlined the government's concerns about potential abuse in the system, targeting both questionable employers and institutions that may not be providing a genuine educational experience, according to Canadian public broadcaster CBC. During a news conference, Miller expressed concerns about certain educational institutions operating as «puppy mills» and emphasised the need to address fraud and abuse within the system. He said, «There are, in provinces, the diploma equivalent of puppy mills that are just churning out diplomas, and this is not a legitimate student experience.» The increased financial requirement for prospective students will be raised to USD 20,635, doubling the longstanding USD 10,000 threshold.

While banks had raised their fixed deposit (FD) rates, the increases have not been close to the repo rate’s 2.5% rise. The RBI had raised its concerns about a shortfall in transmission in the interest rates. Banks have been facing tighter liquidity conditions and higher credit growth, which have also been pushing the rates up in the short term.

Starbucks faces $11 billion value loss due to poor sales, boycotts Teamsters Union warned they will do a strike if UPS doesn't take action. "If UPS doesn't get its act together, they'll be on strike next. Our union will not hesitate to act, and we will not back down," said O'Brien.

More than 1,000 workers at Volkswagen’s Tennessee factory have signed cards authorizing a vote to be represented by the United Auto Workers union

The National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft

California is facing a $68 billion budget deficit