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Six suspected OTC crypto scammers were arrested in Incheon, South Korea, police in the city confirmed on February 20.

Union Bank of India's share price jumped 7% to Rs 151 in Wednesday's trade on BSE after the state-owned bank approved a Rs 3,000 crore share sale proposal at a floor price of Rs 142.78 per share to fund its business growth. The floor price is at a marginal premium compared to the previous day's closing price of Rs 141.1. The bank also announced the opening of the issue on February 20.

Also Read: Multibagger stock: Swan Energy delivered over 500% return in less than 3 years; up for 6th straight year During the bidding period from February 13 to February 15, the Vibhor Steel IPO garnered a remarkable subscription rate of 298.86 times. From the first day, the IPO witnessed a strong response, maintaining strong momentum throughout the three-day bidding process. This stellar response marked the IPO as the first to achieve a subscription rate exceeding 200 times in 2024.

HSBC noted the effects of China's slower-than-expected economic recovery after the Covid-19 pandemic as well as heightened geopolitical tensions. The firm reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange. Profit after tax increased by $8.3 billion, to $24.6 billion.

₹231.05 apiece on BSE. Aditya Halwasiya purchased 1,18,02,094 equity shares of Tourism Finance Corporation of India at an average cost of ₹209.75 per share, according moneycontrol's news report.

light rainfall or drizzle in parts of the national capital today, February 21, Wednesday. The mercury settled at 12.2 degrees Celsius, normal for this time of the season. A cloudy sky is expected in the city with a likelihood of rain during the day, as per the weather forecast, PTI reported.

Delhi Chalo Farmers Protest News: Heavy traffic movement has been witnessed at the Delhi-Gurugram border due to barricading by Delhi Police in view of the farmers' protest on Wednesday. In a post on X (formerly Twitter), Gurugram Traffic Police wrote, “Traffic congestion has been reported at Delhi-Gurugram border on NH 48 due to barricading by Delhi Police. @TrafficGGM is on the spot to facilitate the traffic." “The inconvenience caused is highly regretted.

Uttar Pradesh, Gujarat, and Punjab, have reached out to authorities for help, including to Member of Parliament, Asaduddin Owaisi. They claim the men were promised jobs with high salaries but ended up trapped in a dangerous situation. One man, who wished to remain anonymous, said he and two others were recruited through a YouTube channel and transported to Russia in November 2023.

Karnataka government banned the use and sale of both tobacco and non-tobacco hookah at public places across the state with immediate effect with an aim to safeguard the health of its citizens and stem the tide of tobacco-related diseases. In a statement by Health Minister Dinesh Gundu Rao's office, it said, “The state government has taken this action with the conviction that it will be met with support from all responsible citizens who place the health and well-being of the people as a paramount concern." This action was backed by "alarming data" from the WHO Global Adult Tobacco Survey-2016-17 (GATS-2), which stated that 22.8 per cent of adults in Karnataka use tobacco, with 8.8 per cent being smokers.

Paytm may just be the beginning. India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp. While the Paytm case was an extreme example of lapses in customer verification — it allegedly used a single identity document to open thousands of accounts — the crackdown signals growing impatience from authorities. Hardly a day passes when a bank or fintech firm isn’t fined for failing to properly vet its customers, ensnaring top lenders from State Bank of India to Citigroup Inc. Fed up with the persistent shortcomings, the Reserve Bank of India is likely to get even tougher before Governor Shaktikanta Das steps down this year.

Mark Zuckerberg is planning to visit South Korea and is scheduling key meetings during his trip, Meta said in a statement on Wednesday without elaborating. Zuckerberg is expected to meet Samsung Electronics chairman Jay Y Lee as early as later this month to discuss AI chip supply and other generative AI issues, South Korean newspaper Seoul Economic Daily reported earlier on Wednesday, citing unnamed sources with knowledge of the matter.

West Bengal and Uttar Pradesh said Nationalist Congress Party leader Sharad Pawar. Pawar who heads his own faction of the Nationalist Congress Party- Sharad Pawar on Wednesday acknowledged that there were differences within the opposition alliance but said that it could be resolved with the intervention of leaders from leaders of other Opposition parties in other states. “In some cases, we have disputes in Uttar Pradesh (between Congress and Samajwadi Party) on seat sharing and there is no agreement on it. In West Bengal there are more problems, there the parties (in the India alliance) are not even ready to go into an alliance with each other,” said Pawar while speaking to the reporters in Kolhapur. He added, “TMC does not want to go with an alliance with the CPI (m), similarly there are issues with the TMC and the Congress. We have not resolved these issues; in these situations, the seniors (senior India bloc leadership) possibly from outside the state would sit soon (to resolve the issues).”

(Reuters) — Rio Tinto (NYSE:RIO) reported an 11% drop in full-year underlying earnings on Wednesday, as lower contributions from its aluminium business amid weaker prices countered production gains at the iron ore segment.

By Echha Jain and Lewis Jackson

A look at the day ahead in European and global markets from Ankur Banerjee

Union Bank of India share price jumped almost 7 percent on Wednesday, February 21, after the PSU lender announced its plans to raise ₹3,000 crore through a qualified institutional placement (QIP), with a floor price set at ₹142.78 per share. "We wish to inform you that the Committee of Directors for Raising Capital Funds (“Committee") has at its meeting held today i.e. February 20, 2024, approved the raising of funds for an amount not exceeding ₹3,000 crore through issue of equity shares through Qualified Institutions Placement subject to the requisite regulatory /statutory approvals," said the bank in a stock exchange filing.

The Red Sea crisis has disrupted shipping routes, pushing refining margins significantly higher. The benchmark Singapore gross refining margin is seeing an uptrend, currently up more than 56% compared to the December quarter (Q3FY24), as illustrated in the chart here.

Amazon, is set to venture into a new market segment — low-priced fashion and lifestyle — with the launch of Amazon Bazaar, targeting the Indian value customer, as per an Economic Times report. The move comes as demand for mass-market products slows down and Amazon faces a deceleration in its own growth. Amazon Bazaar has initiated the onboarding process for sellers, urging them to list unbranded fashion and lifestyle products, including apparel, watches, shoes, jewellery, and luggage, priced below ₹600, the report said citing the company's communication to merchants.

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By Selena Li and Lawrence White

Investing.com-- Shares of major Australian mining stocks fell sharply on Wednesday, tracking a decline in iron ore prices amid growing concerns that worsening global economic conditions will dent demand for the steel-making material.