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Asian Development Bank (ADB) committed USD 2.6 billion (about Rs 21,500 crore) in sovereign lending to India in 2023 for various projects. The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India's climate resilience, and enhance connectivity. ADB also extended USD 23.53 million in technical assistance and USD 4.1 million in grants under the sovereign portfolio. In addition, ADB committed over USD 1 billion for private sector projects during the past year, the Manila-based multi-lateral development bank said in a statement.

Stocks fell and bonds retreated, tracking a drop in US Treasuries overnight after weak debt auctions and hawkish remarks from a Federal Reserve speaker. 

Read | S&P Global revises Indian economy outlook to positiveAs of 31 December 2023, ADB had committed 623 public sector loans, grants, and technical assistance totalling $55.3 billion to India, with its current sovereign portfolio in India including 67 loans worth $14.15 billion.Some of the other MDBs, which have backed key projects in India, include the World Bank Group, the International Monetary Fund (IMF), the International Fund for Agricultural Development (IFAD), and the Global Environment Facility (GEF).Interestingly, MDBs have been urged to make more finance available to emerging and developing economies (EDEs) for meeting development needs, mitigating climate risks and insulating from global shocks.Under the Indian presidency of the G20 in 2023, an expert committee headed by economists N.K.

In a stock exchange notice, the trust said it had reached an agreement with Arizona Bidco, a wholly-owned subsidiary of Averon Park, to acquire the entire ordinary shared capital of the trust that it does not already own for 97p per share in cash.  The offer represents a premium of around 32.8% to the closing price of 73p per share on Tuesday (28 May), and a discount of approximately 5.1% to the unaudited net asset value of the trust of 102.2p per share, as at 31 March.  Arizona Bidco is a newly-incorporated special purpose vehicle established by Blackmead, which owns 29.6% of FSF's i...

Last month, an article in Harvard Business Review (HBR) ‘Will Your Nudge Have a Lasting Impact?’ by Evan Polman and Sam J. Maglio questioned the effectiveness of nudges used in policymaking and corporate strategy. Ever since the book Nudge by Richard Thaler and Cass Sunstein was published in 2008, behavioural nudges, or interventions designed to subtly steer individuals towards desired behaviours, has become a favourite tool of policymakers around the world.

Avaada Group's arm Avaada Energy on Wednesday said it has secured Rs 315 crore financing from Aseem Infrastructure Finance for a captive solar project in Karnataka. Aseem Infrastructure Finance Ltd (AIFL) is an IFC (Infrastructure Finance Company) established with the aim of playing a transformative role in the growth of Indian infrastructure debt financing, according to a company statement. Avaada Energy, a leading player in the renewable energy sector, has secured financing for its solar PV power project, which is being developed under a long-term captive Power Purchase Agreement (PPA) with the Karnataka Cooperative Milk Producers' Federation Ltd (KMF), the statement said. The project is located in the Kalaburagi district of Karnataka. KMF, the apex body for the dairy cooperative movement in Karnataka, is rated A+ (Stable) by ICRA.

Jakson Green, a new energy transition platform backed by Jakson Group, on Wednesday said it has secured Rs 60 crore funding from HSBC India. This funding will support the company's working capital requirements for its renewable energy business, both in India and internationally, a company statement said. The Jakson Green is actively expanding its global reach in Middle East, Africa, (Commonwealth of Independent States) CIS countries and Europe, it added. This sustainable trade facility from HSBC India underscores Jakson Green's unwavering commitment to ESG responsibilities and its leadership in promoting a sustainable and inclusive future.

Power Mech Projects on Wednesday said it has bagged an order worth Rs 563 crore from state-owned BHEL to construct a nuclear power plant. The Power Mech Projects Ltd (PMPL) has secured its first construction project in the critical nuclear power sector, the company said in a regulatory filing. According to the filing, the company has been awarded a significant order valued at Rs 563.23 crore from BHEL- Power Sector Southern Region for Civil, Structural, and Architectural works of turbine island package of 2x700 MWe, PHWR (pressurized heavy-water reactor), Kaiga Atomic Power Project (units 5 and 6) in Uttar Kannada district, Karnataka. The scope of work includes a number of segments covering civil, electrical, and structural works, including TG (turbine generator) building, foundation for all equipment, chemical lab, storage tanks, peripheral drains, and sewage network.

market is likely to trade lower on Wednesday tracking muted global cues. The Nifty future closed negative with losses of 0.25% at 22,925 levels on Tuesday. India VIX was up by 4.36% from 23.19 to 24.20 levels.

GSM Foils is likely to finalise the share allotment process today. Investors can check the status of GSM Foils IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case. Follow the step-by-step process mentioned below to check the status of allotment.

Stocks to buy or sell: Following weakness in the global market, the Indian stock market concluded lower for the third consecutive session on Tuesday. All three frontline indices remained highly volatile throughout the Tuesday session and ended lower. However, the Nifty 50 index sustained above the crucial support range of 22,750 to 22,800.

₹20-trillion plan envisages construction of more than 75,000 km of highways over the next 15 years, including 50,000 km of access-controlled highways or expressways, one of the two persons said on condition of anonymity. As of now, about 4,000 km of centrally funded access-controlled highways have been built. Queries sent to MoRTH remained unanswered till press time.

Grandage had originally assumed the role in an interim capacity following Young's departure at the end of April this year. Stephen Bird exits abrdn as Jason Windsor takes interim CEO role He will report to Peter Branner, abrdn's chief investment officer, and lead the global sustainability and ownership strategy.  In the role, Grandage will continue to ensure that sustainability remains an integral consideration in the investment process to help deliver risk adjusted returns.  Prior to his decade at abrdn, Grandage held positions with WSP and RPS Group, which was acquired by the ...

The self-imposed rules of a no-buy challenge are simple: participants pledge to stop buying non-essential items, be they unneeded shoes, additional beauty products or other impulse buys for a set amount of time, usually 12 months

International donors meeting in Brussels say they will commit 7.5 billion euros, about $8.1 billion, in both grants and loans to support Syrians battered by war, poverty, and hunger for the rest of this year and beyond

Exide Industries, Tata Motors DVR and Bharat Forge skyrocketing about 100-140 per cent.Out of 16 components in the index, as many as nine stocks have surged over 75 per cent in the last one year, according to Trendlyne data.Expectations of robust sales in FY25 are among the biggest factors boosting automobile stocks. A revival in the rural market has driven this surge, as forecasts of a normal monsoon and stable raw material prices promise healthy margins.Experts believe the two-wheeler market may outshine the passenger and commercial vehicle segments in volume growth.Also Read: Lok Sabha elections 2024 trading: Kripashankar Maurya of Choice Broking recommends buying these 7 stocks for short termAtul Parakh, the CEO of Bigul pointed out that automobile stocks have surged due to strong demand fueled by economic reopening, consumer spending shifts post-pandemic, and the transition to electric vehicles (EVs).

₹482. Post today's jump, it has now advanced over 43 percent from its 52-week low of ₹336.40, hit on March 14, 2024.

environmental impact of data centres, which consume vast amounts of power and water, makes it imperative for companies operating these facilities to prioritise sustainability efforts. Data centres are significant consumers of electricity. According to estimates, they use approximately 2% of the world’s power and emit CO2 that is equivalent to the airline industry’s emissions; the airline industry is a highly carbon-intensive business. Moreover, data centres’ energy use is known to double every four years, resulting in one of the fastest-growing carbon footprints. By adopting sustainable practices and technologies, data storage solution companies can play a significant role in mitigating such impact. To fulfil such goals, storage solutions company Western Digital is looking to tackle power consumption challenges, including cooling — a critical aspect to data centre design — operational cost and hardware reliability.

Also Read: India's economy likely slowed to an annual 6.7% in January-March, its weakest pace in a year, finds report"Going forward, we expect investment growth momentum to sustain with extra fiscal space for infrastructure spending given a higher than expected dividend transfer by the RBI. As a result, we recently revised our growth forecasts for CY24 slightly higher by 10 bps to 6.7% YoY," Goldman Sachs analysts Santanu Sengupta, Arjun Varma and Andrew Tilton said in a note.India’s growth momentum remains strong and they expect the core inflation will bottom out in April-June 2024 and be around 4.0% - 4.5% in H2CY24.Meanwhile, the Monetary Policy Committee (MPC) members from the RBI have sounded cautious on sticky food inflation owing to supply side disruptions due to the ongoing hot weather conditions in many parts of India.

Stocks to buy or sell: The frontline indices of the Indian stock market continue to scale new highs, but they have failed to sustain themselves at higher levels, especially the Nifty 50 and the BSE Sensex. After climbing to the new peaks, Nifty and Sensex witnessed heavy selling pressure at the closing bell on Monday.