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NCLAT) on Tuesday directed the monitoring committee of Jet Airways to complete the transfer of the airline's ownership to Jalan Kalrock Consortium (JKC) within 90 days. It also directed JKC to obtain an air operator's certificate within this period. The tribunal also allowed the adjustment of the performance bank guarantee (PBG) of ₹150 crore towards the first tranche payment of ₹350 crore. JKC's counsel said, «NCLAT has approved the implementation of the resolution plan as originally approved without any deviations and has given directions to lenders for specific and immediate implementation.» Jet Airways did not comment on the tribunal's orders till press time. «The PBG of INR 150 crore, which is lying with the monitoring committee, shall be adjusted towards the first tranche payment of Rs 350 crore as INR 200 crore has already been paid by the SRA,» said the NCLAT. JKC had deposited ₹200 crore in two tranches by September last year. The lenders had argued that JKC had not complied with the conditions of the resolution plan, ranging from payment of airport dues to payment of the first tranche, and hence could not transfer the ownership of the airline.

The Asia Pacific (APAC) region, with over 50 diverse countries, is currently experiencing phenomenal economic growth. Home to more than half the world’s population (52% in 2023) and economic giants like Japan and India, the region’s GDP (35.4% of the world’s in 2023) has surpassed that of North America and Europe. This trajectory is projected to continue, with APAC projected to grow at 4.2% in 2024 by the International Monetary Fund, significantly faster than the global pace of 2.9%, with the economies of countries like India and Bangladesh expected to expand at double the world’s rate.

United Arab Emirates — China, Iran and Russia have begun a joint naval drill in the Gulf of Oman, a crucial waterway near the mouth of the Persian Gulf, officials said Tuesday. Footage aired by Chinese state television and a video released by the Russian navy showed the ongoing drill, known as «Marine Security Belt 2024.» China sent the guided-missile destroyer Urumqi and the guided-missile frigate Linyi to the exercise. Russia's forces are being led by the Varyag, a Slava-class cruiser.

The head of the African Development Bank is calling for an end to loans given in exchange for oil or critical minerals used in smartphones and electric car batteries

regional developments and the urgent need to address the issue of humanitarian assistance to Gaza which is facing catastrophic levels of food insecurity. ET has learnt that Doval tried to impress upon Netanyahu the need for an immediate ceasefire in the backdrop of Ramazan. NSA also referred to the need for a two-state solution to achieve a permanent and durable peace even as the two sides discussed stronger responses to terror attacks. They also discussed efforts to release hostages and the issue of humanitarian assistance. This was the first high-level visit from India to Israel since the October 7 terror attack.

(Reuters) — The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. Treasury Department said on Tuesday.

Bitcoin market cap surpasses Silver to take eighth spot in global asset rankings The recent surge in momentum can be largely attributed to the successful launch of spot Bitcoin exchange-traded funds (ETFs) in the United States on January 11. These ETFs, spearheaded by prominent financial entities like BlackRock Inc. and Fidelity Investments, have collectively garnered approximately $9.5 billion in net inflows.

(Reuters) — A former Tallgrass Energy board member and his friends will pay $2.2 million to settle insider trading charges related to a Blackstone-led $3.03 billion buyout offer for the oil pipeline operator in 2019, the U.S. SEC said on Tuesday.

United States is preparing a new military aid package for Ukraine that could be worth as much as $400 million, two U.S. officials told Reuters on Tuesday, the first such move in months as additional funds for Kyiv remain blocked by Republican leaders in Congress. The officials, speaking on condition of anonymity, said an announcement was expected later on Tuesday. One of the officials said that the funding for this package is from credits refunded to the Pentagon for recent purchases.

government on Tuesday banned the Jammu Kashmir National Front led by Nayeem Ahmad Khan under the Unlawful Activities (Prevention) Act. In an order, the Ministry of Home Affairs declared the JKNF, a constituent of the hardline Hurriyat Conference, an "unlawful association" with immediate effect. The government said the JKNF has been «indulging in unlawful activities, which are prejudicial to the integrity, sovereignty, and security of the country.» It said members of the JKNF have remained involved in supporting terrorist activities and anti-India propaganda for fuelling secessionism in Jammu and Kashmir and providing logistic support to terrorists in the Union territory.

India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden's energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia's leading tanker group Sovcomflot on the two-year anniversary of Moscow's full scale invasion of Ukraine. It also designated 14 crude oil tankers as property in which Sovcomflot had an interest. That led to concerns in India of a potential dent in Russian oil sales to India, the biggest buyer of Russian seaborne crude, and that the fresh sanctions could complicate efforts by Indian state refiners to secure annual supply deals, Reuters reported late last month.

Nayab Singh Saini belongs to the OBC community in Haryana. So, the move to make him the CM could be seen as a way for the BJP to set the caste-equation right and make inroads in the vote share among the OBCs. The BJP had replaced Om Prakash Dhankar with Saini as the Haryana party chief in October, a move then seen as an attempt to strengthen its hold on the OBC community.

UAPA for five years. The Ministry, in the notice, issued on Tuesday evening said that the Front is indulging in unlawful activities, which are prejudiced to the integrity, sovereignty and security of the country.

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Mar. 12th, Panama – On March 11, 2024, Gate.io, a global leader in digital asset trading, released its latest proof of reserve report. The report reveals that Gate.io’s reserve ratio in March reached 115.49%, with the total reserves surpassing $6 billion, a 40.33% increase from January. Additionally, the extra reserves experienced steady growth, reaching a record high of $820 million, an increase of 40.50%.

₹130 per annum on the company's revenue from transaction charges. According to market experts, the NSE's move could potentially drive up volumes, especially at a time when stock markets are hitting record highs driven by foreign capital and economic growth, with high volumes in stock options trading drawing a large number of retail investors.

March 11, Bengaluru: Gameskraft Technologies Pvt Ltd., one of India’s leading skill-based online gaming companies, today announced its plan to continue with its CSR initiatives geared towards skill-building and education. Gameskraft has roped in leading firms Deloitte India and Khaitan & Co. to advise in the space of education.

Economist Kevin Hassett weighs in on President Biden's proposed 2025 budget on 'The Bottom Line.'

Retired nurse Joyce Fleming shares why she decided to return to work due to rising costs.

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