Enterprise Financial News

New York Adult Survivors Act expires, musician Sean «Diddy» Combs is the target of a third lawsuit. Governor Kathy Hochul signed the legislation into effect in May 2022, giving victims of sexual assault a year to file claims, regardless of the statute of limitations.

collateral-free loan scheme for micro and small enterprises (MSEs) Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has approved a credit guarantee of Rs 1 lakh crore in the first seven months of the current financial year 2023-24, the government said Friday. “In a major boost to the Micro, Small and Medium Enterprises (MSME) sector, the CGTMSE has approved a credit guarantee of Rs 1 lakh crore in just seven months of the current financial year 2023-24,” the MSME ministry said in a statement. In the previous fiscal 2022-23, the same was achieved in 12 months. In a post on social media platform X, MSME minister Narayan Rane said: “CGTMSE's crucial role in ensuring sustained growth, resilience, and employment generation for MSMEs is commendable”. He said that this achievement is a testament to the government's unwavering commitment to supporting MSMEs and providing them with access to affordable credit. “The accelerated pace of credit guarantee approvals reflects the government's proactive measures to facilitate financial support to MSMEs, thereby bolstering their contribution to the nation's economic development,” the ministry added. The scheme offers guarantee on credits for loans up to Rs 2 crore, without third-party guarantee and collateral.

Adani Enterprises rose 3.5% to Rs 2,250 in Friday's trade on NSE as the Supreme Court finished hearing on the Hindenburg issue and reserved its order. Other Adani stocks such as NDTV and Adani Power also rose 8.3% and 4.5%, respectively. Adani Energy Solutions, Adani Green Energy, Adani Ports and Adani Total Gas also rose over 1%. Market regulator SEBI on Friday informed the Supreme Court that it will not be seeking an extension to complete its probe in the Adani-Hindenburg matter. A Supreme Court-appointed expert committee had an interim report in May stating that it saw “no evident pattern of manipulation" in billionaire Gautam Adani's companies and there was no regulatory failure. It, however, cited several amendments the SEBI made between 2014 and 2019 that constrained the regulator's ability to investigate, and its probe into alleged violations of money flows from offshore entities has «drawn a blank». Chief Justice of India DY Chandrachud on Friday asked the SEBI, represented by Solicitor General Tushar Mehta what it has been doing on investor value and if it is ensuring their protection. «There is extreme volatility in the stock market.

BITS Pilani’s technology business incubator, Pilani Innovation and Entrepreneurship Development Society (PIEDS), has introduced the inaugural edition of its startup initiative, “Womenpreneur for Bharat 1.0". 

dearness allowance (DA) for certain Central Government employees drawing salaries as per the 6th pay commission and 5th pay commission has been hiked. This has been announced through an Office Memorandum dated November 16, 2023, by the Department of Public Enterprises of the Finance Ministry.

Himadri Speciality Chemical Ltd and Dalmia Bharat group to jointly acquire Birla Tyres. Another petition involves Kesoram Industries Ltd, the parent company of Birla Tyres, contesting the rejection of its claims as a financial creditor in the Birla Tyres insolvency process. Additionally, Manav Investment and Trading Company Ltd, a shareholder, is raising a worker's claim in its case.

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BITS Pilani’s technology business incubator, Pilani Innovation and Entrepreneurship Development Society (PIEDS), is launching a startup programme that will support women entrepreneurs who are creating solutions for the smaller cities in the northeastern region, Rajasthan, Haryana and J&K, according to a statement from the institute. The programme, ‘Womenpreneur for Bharat 1.0’, will provide funding of up to Rs 10 lakh to the eligible startups, along with extended incubation support from PIEDS, including one-on-one mentoring, market access support, and opportunities to raise funds.

NSE and BSE will be closed for trading on Monday, November 27 on account of Gurunanak Jayanti. Accordingly, all the segments including, the equity segment, derivative segment, and SLB segment will not trade. Commodity exchange MCX will also be closed during the morning session but will open for trading in the evening session between 5 pm and 11:30 pm. The country's largest agricultural commodity exchange NCDEX will remain closed for trading in both sessions.

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not.

Multibagger stock: Shares of Rattanindia Enterprises Ltd are one of the multibagger stocks that Indian stock market has produced in current financial year. After bottoming out at around ₹33 apiece levels at the end of March 2023, this drone maker stock has risen to a new high of ₹81.60 apiece levels on NSE during Friday deals, delivering around 150 per cent return in FY24. RattanIndia share price had hit new high on Thursday session as well.

The NSE Nifty index traded 8.35 points down at 19793.65, while BSE Sensex was down 32.35 points at 65985.46 as of 10:09AM(IST)on November 24. In the Nifty index, Dr.

Phoenix Mills Ltd.(up 2.07 per cent) and Macrotech Developers Ltd.(up 0.24 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 1.49 per cent), Indiabulls Real Estate Ltd.(down 1.0 per cent), Brigade Enterprises Ltd.(down 0.91 per cent), Godrej Properties Ltd.(down 0.21 per cent) and Sobha Ltd.(down 0.21 per cent) were the top losers on the index.

Hindustan Copper, The India Cements, Manappuram Finance, the Multi Commodity Index of India (MCX), Indiabulls Housing Finance, RBL Bank and Zee Entertainment Enterprises (ZEEL). BHEL and Indiabulls Housing Finance have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

BEIJING (Reuters) — China hopes Russia will give policy support for Chinese automobile enterprises to produce, sell and operate in Russia, Chinese state media cited China's ambassador to Russia as saying on Friday.

Andrew Ng, the founding lead of the Google Brain team and former chief scientist at Baidu, juggles multiple roles as a teacher, entrepreneur, and investor. He is currently the founder of DeepLearning.AI--an edtech company, founder & CEO of Landing AI--a software provider for industrial automation and manufacturing, general partner at AI Fund, and chairman and co-founder of Coursera, besides being an adjunct professor at Stanford University’s Computer Science Department. In an interview, he shares his views on the OpenAI fracas, loss of jobs to generative artificial intelligence (AI), the heated debate around artificial general intelligence (AGI), and global regulation of AI, among other things.

Jack Ma loses $683 million on Alibaba after its shares drop by 9% “Ma’s office has issued a statement saying that Ma will continue to hold onto his Alibaba stake. This is a fact and not mere lip service," Jiang said in the note.

stock exchanges this week for non-compliance of Securities and Exchange Board of India's listing requirements pertaining to composition of board directors. BPCL, HPCL, Indian Oil, ONGC, GAIL, Indian Railway Finance Corp, Garden Reach Shipbuilders & Engineers and Ircon International, among others, received notices from BSE and NSE separately, asking them to pay up a fine of ₹5,42,800 each to both the bourses.

Silvergate Capital said on Wednesday it had fully repaid all remaining deposit liabilities, following the bank's decision earlier this year to wind down operations. Silvergate, which now holds less than $10,000 according to the statement, said in March it intended to voluntarily liquidate after being hit with losses following the dramatic collapse of crypto exchange FTX. «Silvergate continues to focus on implementing the Bank Liquidation,» it said in a statement on Wednesday. California-based Silvergate, once among the crypto industry's favored banks, had reported a $1 billion quarterly loss before the winding down decision, as investors spooked by the FTX debacle pulled out more than $8 billion in deposits.

loan pact with the Asian Development Bank (ADB) to support financing in rural and peri-urban areas in India, particularly for women borrowers. The funding comprises a loan of up to USD 125 million from ADB, and an agreement to syndicate an additional USD 125 million co-financing from other development partners, L&T Finance said in a statement.

Amazon to provide training to micro, small and medium enterprises (MSME) in 20 identified districts to promote exports through e-commerce. As part of the MoU, Amazon and Directorate General of Foreign Trade (DGFT) will co-create capacity building sessions, training and workshops for MSMEs in districts identified by the DGFT as part of the ‘District as Exports Hub’ initiative outlined in the Foreign Trade Policy 2023, in a phased manner. Amazon will provide training by making digital catalogues and tax-related issues, among other services. The capacity building session will allow MSMEs to learn about imaging, digital cataloguing of their products, tax advisory amongst others. “To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country,” the ministry said in a statement. The MoU was signed in the presence of Director General of Foreign Trade (DGFT) Santosh Sarangi, Chetan Krishnaswamy (Vice President, Public Policy Amazon), and Bhupen Wakankar (Director Global Trade Amazon India). “The initiative seeks to link local producers even in rural and remote districts with global supply chains.