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IndoStar Capital Finance has sold to Phoenix Asset Reconstruction Company two stressed loans of Puranik Builders and Kanakia Spaces Realty for ₹790 crore, which is an 86% recovery on the total loan outstanding of ₹915 crore, according to sources. The recovery rate is considered good given that these loans were overdue by around 60 days. «The recovery was good as the loan accounts were tagged in stage 2 and chances of recovery are strong,» said a source.Non-banking finance companies (NBFCs) categorise loans as stage 2 if the overdue period is between 30 and 60 days.

Bob Iger led a 45-minute town hall session in Burbank, California. During the exchange, Iger took on questions from anxious employees on thorny issues like the recruitment ban, the outlook for conventional television enterprises, the possible sale of the company, and the company’s stance on LGBTQ concerns that had plagued the term of his predecessor Bob Chapek. Regarding the latter, Iger emphasised that a fundamental principle of Disney's storytelling was embracing inclusion, acceptance and tolerance, and it was crucial for the company to uphold this. But his big message to the employees in the end was: “The status quo is gone.” As he has set about reshaping Disney, the path has been arduous for Iger. The CEO has been dealing with a spectrum of challenges, from tackling streaming losses and dipping linear subscriptions to navigating advertising headwinds. Concurrently, he has had to manage an internal reorganisation that empowers creative divisions for content authority and distribution, while addressing vital cultural aspects like LGBT inclusion. Then there’s the key task of identifying a successor. The CEO has acknowledged that the task of turning around the Disney business has proven more challenging than he anticipated. Over the past year, Disney's stock price has fallen by 30%. On August 25, the stock closed at $83.27, mirroring levels last seen in May 2014. In the June quarter, revenue climbed 4% to $22.33 billion, yet missed forecasts. A $2.7-billion restructuring expense led to a $460-million loss, compared with last year's $1.4 billion profit. Iger's urgent focus is to halt the decline of the TV market, curb streaming losses, and arrest the stock price slide.

Foreign direct investment (FDI) into India declined 34% year-on-year to $10.94 billion during April-June this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows, including fresh FDI equity inflows, reinvested earnings and other capital, were $17.56 billion against $22.34 billion a year ago. Singapore was the top source of FDI with inflows of almost $3 billion, followed by the Netherlands, at $1.5 billion.

The boss of Australia’s second-largest pubs group, Australian Venue Co, says bookings for Christmas functions are up 40 per cent on this time a year ago as households and businesses seek out better value alternatives to restaurants, keeping the economy on track for a soft landing.

Muslim student, who was slapped by his classmates following the orders of a school teacher in Muzaffarnagar, will be admitted to a government primary school provided his family agrees to it, officials of the education department said on Sunday. The department will also facilitate for the transfer of other students studying in Neha Public School in Khabbupur village where the incident took place on Friday, they said. «The father of the boy who was slapped does not want his son to continue his studies there (Neha Public School). The block education officer spoke to the boy, and he expressed his willingness to study in the government primary school in the village. On Monday, his enrolment will be done in the government school, provided his family is willing to do so,» Muzaffarnagar Basic Shiksha Adhikari (BSA) Shubham Shukla told PTI. Shukla said that the private school in Khabbupur village will not be closed and normal teaching activities will continue. «The school has been asked to give in a month its clarification to the department regarding its affiliation. It has three teachers and runs classes from one to five,» the BSA said.

Income tax department is looking into tax evasion by about six companies providing foreign tour packages for under-reporting of income, non-deduction of the prescribed tax and their involvement in remitting money abroad through the hawala racket or unofficial fund transfer. The department sent show cause notices to these companies between June and July, ET has learnt. «There was gross underreporting of income and also they were using fake names and addresses and identity for booking the package,» an official told ET, adding that in some instances a tour package was booked in the name of one person for four consecutive quarters which on closer scrutiny were found out to be fake.

Kohrra and Rana Naidu ruffled some feathers. There’s also concern about the potential impact of a consultation paper proposed by the Telecom Regulatory Authority of India (Trai) for regulating OTT platforms, including content providers.

NEW DELHI : The National Financial Reporting Authority (NFRA) will soon issue a circular outlining the frequently observed deviations in the preparation of financial statements and statutory audits to give guidance to managements and auditors on practices they should strictly avoid. These deviations were noticed in specific cases during investigations and audit quality reviews done by NFRA in the last few years.

Ajit Pawar visited Pimpri-Chinchwad city for time the since assuming office. His maiden visit after becoming Deputy CM saw a man hanging from a crane to garland the minister.

NEW DELHI : Indian companies’ ability to repay debt is gradually improving despite rising interest rates, aided by cheaper inputs lifting operating performance, significant debt reduction in the recent past, and a fall in working-capital requirements. A Mint analysis of 382 companies in the BSE 500 index showed that interest coverage ratio (ICR) stood at 7.02 times in the June quarter, better than 6.73 times in the March quarter. The figure, however, is still lower than 7.22 times a year earlier.

Opposition INDIA allies in Mumbai this week is slated to discuss proposals to set up a central office for the group in Delhi. The idea behind the proposal, it is learnt, is to show that the INDIA bloc is a collective entity with its own distinctive functional arrangement and space — unlike the ruling National Democratic Alliance (NDA) and the erstwhile United Progressive Alliance (UPA), which functions or functioned mostly as extensions or paraphernalia of BJP and Congress, respectively. «Some INDIA allies have proposed that we should have a functioning collective office, a headquarters, in Delhi for the coordination and secretariate works and meetings. We will discuss this proposal at the coming meeting of the alliance leaders (in Mumbai on August 31 and September 1) and will take a collective view,» said an INDIA leader involved in the discussions. The proposers feel the bloc, which also consists of some turf-rivals, having its own working office in Delhi can help both in terms of giving it a national structural identity and a political address, independent of each partner and of any big brother's shadow.

Trump's police booking photo taken in Fulton County Jail last Thursday is the main talking point. The mugshot shows the former — and future? — US president looking into the camera, perhaps pretending to be Robert Oppenheimer.

Aayega to Modi hi (Only Modi will make it to power) is continually reinforced. INDIA will have to find a method to counter it in Mumbai.

Fukushima Daiichi nuclear plant's central control room in northeastern Japan, the treated water transfer switch is on. A graph on a computer monitor nearby shows a steady decrease of water levels as treated radioactive wastewater is diluted and released into the Pacific Ocean. In the coastal area of the plant, two seawater pumps are in action, gushing torrents of seawater through sky blue pipes into the big header where the treated water, which comes down through a much thinner black pipe from the hilltop tanks, gets diluted by hundreds of times before the release. The sound of the treated and diluted radioactive water flowing into an underground secondary pool was heard from beneath the ground during Sunday's first plant tour for media, including The Associated Press, since the controversial release began. «The best way to eliminate the contaminated water is to remove the melted fuel debris,» said Tokyo Electric Power Company Holdings spokesperson Kenichi Takahara, who escorted Sunday's media tour for the foreign press. But Takahara said the scarcity of information from inside the reactors makes planning and development of the necessary robotic technology and a facility for the melted fuel removal extremely difficult. «Removal of the melted fuel debris is not like we can just take it out and be finished,» he said. The projected decades-long release of treated water has been strongly opposed by fishing groups and criticized by neighboring countries.

By Fergal Smith

Saturn makes a splendid appearance at its brightest and most prominent position in the sky.

reality in India Inc: overwhelmingly male-dominated corporate boards. There have been gradual gains to bridge the disparity at the employee level as well as top echelons, some of it through regulatory intervention. Yet, pain points remain.

Elon Musk, the chief of Tesla, Space X, and the owner of ‘X’ (formerly Twitter), is impressed with the growing number of Indian-origin CEOs. In a list published by World of Statistics, it was made evident that there has been a significant rise in Indian-origin people at the topmost position. The list showed that many companies all over the world are now led by Indian-origin CEO.

Foreign direct investment (FDI) into India declined 34% on-year to $10.94 billion during April-June period this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows- including fresh FDI equity inflows, reinvested earnings and other capital- were $17.56 billion as against $22.34 billion a year ago.Singapore was the top source of FDI with inflows of almost $3 billion, followed by The Netherlands at $1.5 billion. FDI from Mauritius, Singapore, the US and the UAE declined in the first quarter of FY24. Inflows dipped in segments including computer hardware and software, trading, automobile and pharma.

generative technology and may consider raising funds early next year to support expansion plans. Ramineni, during his India visit spoke to PTI about the rapid growth in AI and startups in India and the Silicon Valley.

Add to their woes, BookMyShow, the official ticketing platform for the 2023 Men's ODI World Cup, had crashed initially when the tickets were put up for sale at 8 pm after the previous timing of 6 pm. Sanika Sawant, a Mumbai-based cricket fan, was trying to buy tickets for the England-South Africa match on October 21 in Wankhede Stadium, but didn't succeed. «I logged in around 7:45 pm as the sale of tickets was to start from 8 pm. But till 8:30 pm, it was showing „coming soon“.