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Economic Advisory Council to the PM (EAC-PM) has proposed making the pre-litigation mediation for commercial cases voluntary, similar to civil cases, saying it will reduce the timeline of dispute resolution in such cases by three to five months and lower the legal costs that entrepreneurs have to bear. “Section 12A of the Commercial Courts Act, 2015, must be amended to make pre-litigation mediation for commercial cases voluntary,” Sanjeev Sanyal, member, EAC-PM said in his working paper co-authored with Apurv Kumar Mishra, a consultant at EAC-PM.

NEW DELHI : The National Financial Reporting Authority (NFRA) has debarred two partners of a Mumbai-based firm for alleged professional misconduct in auditing Devan Housing Finance Corp. Ltd’s FY18 accounts, as part of the watchdog’s efforts to improve audit quality. The regulator debarred a partner at Chaturvedi & Shah LLP for 10 years, and another for five years.

OpenAI co-founder Sam Altman, had a rather tumultuous November 2023, with the company's board of directors voting him out, Microsoft offering him a job, and only five days later to be inducted back into OpenAI. However, December started on a different note for the man who, according to AirBnB CEO Brian Chesky ‘responsibly brought AGI to the world’. Sam Altman was named CEO of the Year 2023 by TIME magazine.

The Bank of Canada held interest rates on Dec. 6, keeping its key policy rate at five per cent.

Adani Ports will meet on December 12 to consider a fundraising proposal through the issuance of non-convertible debentures and non-cumulative redeemable preference shares. «A meeting of the Board of the company will be held on December 12 to consider the proposal for issuance of non-convertible debentures and issuance/renewal of non-cumulative redeemable preference shares, on private placement basis/ preferential basis,» the company said in a filing. The fundraising will be done in one or more tranches. Shares of Adani Ports rallied over 23% in the last five days after the group received a shot in the arm on a Bloomberg report that quoted unnamed officials in the US International Development Finance Corporation (DFC) as saying that the allegations by Hindenburg Research were not relevant. The US agency had recently announced funding of $553 million for the Group's port business in Sri Lanka. In November, Adani Ports recorded strong cargo volumes of around 36 MMT, a robust 42% year-on-year increase. Growth was witnessed across all three broad cargo categories – dry bulk (over 60% YoY), containers (over 26%) and liquids and gas (over 23%). In the eight months of FY24 (April-November 2023), the company handled around 275 MMT of cargo, showing a healthy 21% YoY growth.

Everton will meet Newcastle on Thursday at a time when they have lost five of their past six Premier League games against them. But after winning three of their first four Premier League home games under Sean Dyche, Everton have won just two of their past 12 at Goodison Park. Both of those victories came against Bournemouth. On the other hand, Newcastle won this fixture 4-1 last season and will certainly try to secure back-to-back away league victories against Everton for the first time since a run of three between 1958 and 1960. With four losses, no team has failed to score in more different Premier League home games than Everton so far this season. All eight of their goals at Goodison Park in all competitions this term (five in the Premier League and three in the Carabao Cup) have been scored by different players.

The Bank of Canada’s next interest rate decision is pretty much baked in as a “hold” as far as economists and markets are concerned although one expert warns that the governor Tiff Macklem should not treat “this week’s communications as a mere placeholder.”

Wealthsimple Financial Corp., the online investment platform backed by Canada’s billionaire Desmarais family, has set a target of quadrupling assets to $100 billion in five years, betting that it can capture a significant share of younger investors who don’t want to use traditional money managers.

dynamic asset allocation fund. The fund is built on a proprietary “TRANSFORMER" model that determines equity and debt allocation based on prevalent market trends. The scheme opened for public subscription on December 07, 2023, and will close on December 21, 2023.

Thomas A. James is to retire from the board of directors at Raymond James Financial early next year, having made an unrivaled impact on the firm his father created in the 1960s.

Rescuers say a man has been pulled alive out of a Zambian mine nearly a week after dozens of informal miners were trapped under landslides caused by heavy rain

All-wheel drive is great

₹1.29 trillion for FY24. In the first batch of supplementary demand for grants, the government sought approval to spend a net ₹583.78 billion in the current fiscal, which involves a cash outgo.

Telangana PCC President A Revanth Reddy who is set to take over the reins of the state from Thursday will have a daunting task of making the bleak coffers ring to be able to fulfill the «six guarantees» that the Congress party gave during the run up to the recently concluded assembly polls. Besides, he also has many political challenges to confront. The Congress's robust campaign highlighting the six guarantees is said to have been one of the reasons for the party to mark its victory in the state.

ALBANY, N.Y.—A ban on noncompete agreements could soon be coming to New York—potentially with a carve-out for higher earners. New York Gov. Kathy Hochul is considering whether to sign or veto a bill that would prohibit noncompete agreements, which typically prevent workers from taking a new job or starting a business for a period after leaving an employer.

Gautam Adani has proved to be a windfall for emerging-market investor Rajiv Jain, just nine months after his firm GQG Partners Inc. bought into the Indian conglomerate. The combined market value of the 10 companies controlled by the Ahmedabad-headquartered Adani Group has increased by more than $79 billion since the purchase by GQG on March 2.

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Mirpur on Wednesday. Mushfiqur Rahim was given out obstructing the field in the 41st over, leaving his side five down as he became only the first Bangladesh Men's batter to be dismissed in this fashion. Mushfiqur Rahim defended the ball and extended his right hand to keep the ball away which looked to come out of instinct albeit the ball was far from the stumps.

Stock market today: Tata Power shares have been in continuous uptrend after ushering into the new financial year 2023-24. Tata Power share price bottomed out at around ₹185 apiece levels at the end of March 2023. Since, then it has been climbing new highs on a regular basis.

MPs even before the Speaker started the proceeding for the day in the Lok Sabha. Union Minister Piyush Goyal sought an apology from DMK MP TR Baalu for Kumar's comments in the House. "He (Baalu) should first apologise.

Chhattisgarh assembly have declared criminal cases against themselves, with six facing serious charges like voluntarily causing hurt and criminal intimidation. The BJP swept the Chhattisgarh assembly polls, winning 54 seats.