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The Centre is planning to build a common information technology (IT) backbone linking various stakeholders of the corporate turnaround ecosystem to improve the efficacy of debt resolution, two people aware of the matter said. The entities to be connected include the National Company Law Tribunal (NCLT), the Insolvency and Bankruptcy Board of India (IBBI), credit information providers, lenders, distressed businesses ending up in tribunals, and insolvency professionals. National E-Governance Services Ltd (NeSL), India’s first agency registered under IBBI to provide legal evidence on debt to creditors and tribunals, will also be part of this IT network.

Canadian home sales saw an “unexpected surge” in December as sellers and buyers came together to get deals done before the new year, according to the national real estate body.

India's military presence in the Maldives, now at the centre of a controversy, has been focused on managing two helicopters and a Dornier maritime surveillance aircraft that were gifted to the island nation to conduct search and rescue operations and surveillance of its Exclusive Economic Zone. The aerial assets, which are under direct control of the Maldives National Defence Force (MNDF), have helped conduct more than 600 medical evacuations, search and rescue missions and medical team transfers in the past five years, often making the difference between life and death at the high seas, said people with knowledge of the matter. According to information shared by the Maldives government, the 77 Indian military personnel are either flying crew, technical staff, medical staff or trainers for the two advanced light helicopters and one Dornier maritime surveillance aircraft that operate under the MNDF, they said. These include 24 personnel for one helicopter, 26 for the second, 25 for the Dornier and two additional personnel for general maintenance and engineering. There is no presence of Indian combat troops on the island nation and the bulk of personnel are involved in operating the aerial assets and training MNDF personnel on the equipment and platforms, said the people.

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Reliance Industries' financial services arm Jio Financial Services said its profit increased eight times to ₹70 crore in the quarter ended December 2023 from ₹8 crore in the previous year due to higher interest income and gains on fair value changes. Total interest income at the financier, owned by India's most valued company, increased to ₹91 crore in December 2023 from ₹12 lakh a year ago. The non-banking finance company also gained from a ₹44 crore gain on fair value changes, up from ₹35 crore a year ago. The gains were added to the company's revenue.

₹450 crore currently, as it aims to tap into the growing demand for pre-cooked food items across international and domestic markets. Currently, 98% of the Mumbai-based company’s revenues come from overseas sales, but it is ramping up its domestic business with the newly-launched pickle and cooking pastes brand Soul, which it plans to grow to ₹100 crore in the next three years, its chairman and managing director Bimal Thakkar told Mint in an interview. The company will invest ₹100 crore over the next two years to expand its manufacturing capacity, while eyeing acquisitions for inorganic growth.

Global public debt in 2023 reached historical highs that have put the world economy’s growth at risk. And International Monetary Fund (IMF) projections point to this burden growing much faster in the next five years than its pre-pandemic projections. This time, rising debt is a trend across the board.

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since Friday: upgrades at Qualcomm, Twilio, International Flavors & Fragrances, and CIENA.

By Richa Naidu

More executives are feeling better about the global economy

Manipur chief minister N Biren Singh said that this is not the time to hold rally as Congress leader Rahul Gandhi started Bharat Jodo Nyay yatra from Manipur on Sunday. Biren said last time when Rahul came there was trouble in Manipur however people are alert and there won't be fresh trouble this time.When the situation is getting better in Manipur, Rahul Gandhi and other Congress leaders are trying to make the situation more complicated, he alleged. «Considering prevailing situation in the state, is it a time for politics by holding a rally? This is the hour of protecting lives and properties, and providing comfort and relief,” Singh told the media on the sideline of a programme in Imphal on Sunday. Terming Bharat Jodo Nyay Yatra as ‘Bharat Todo’ (break India) yatra instead, he claimed that the situation in Manipur is gradually getting better and normalcy being restored. »Whenever he (Gandhi) comes, problems crop up. If he comes, we have to be careful and alert so that he does not mess with the situation," Singh said. Gandhi visited Manipur for two days in June last year, weeks after the violence broke out in the state on May 3, and visited a few districts and met the affected people lodged in relief camps. When asked as to why the yatra was not allowed to be lunched from Imphal, Biren said, «No rally is allowed in Imphal.

India Inc mopped up a record Rs 9.58 lakh crore from the market in 2023, registering an increase of 26 per cent from the year-ago period, according to market data. In 2022, fund mobilisation through corporate bonds on private placement basis stood at Rs 7.58 lakh crore, according to the data collated by Primedatabase. In terms of volume, Primedatabase said, adding there were as many as 920 issuers in 2023, which was 863 in the previous year.

The Blacklist, the NBC series which has been running for a long time concluded its latest tenth season which was the final one. It is available already on Netflix in several regions. But the US has been comparatively not fast in picking up the latest season, however, now a release date has been brought out for the final episodes. Since the year 2013, it has been witnessed by viewers that an FBI informant who was formerly a criminal, captured dozens of criminals. It was announced that The Blacklist will be returning for its tenth season on NBC in February 2022. The filming started in September 2022 for season 10 starring Anya Banerjee as Siya Malik. The final season has 22 episodes marking the return of Harry Lennix, Diego Klattenhoff, James Spader, and Hisham Tawfiq. The final season has been driven back to the midseason with the last episodes starting their run on February 26th, 2023 on NBC, before concluding in mid-July, 2023.

The CEO of Circle, the company behind popular stablecoin USD Coin, sees a strong chance that laws for stablecoin issuers like itself will come through in 2024.

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By Mark John

The Fed has been running QT for a while and yet there is still abundant liquidity in the financial system.

Aster DM Healthcare on Monday said it would consider paying Rs 110-120 as dividend to shareholders from the proceeds after the sale of majority stake in GCC (Gulf Cooperation Council) business. Aster had earlier announced that it will separate its India and gulf businesses in a $1-billion deal. The sale is expected to be completed by the March quarter. The board of directors held a meeting earlier on Monday to discuss the progress of the transaction between Affinity Holdings and Alpha GCC Holdings for segregation of the company’s GCC business. «The Board was briefed that there has been satisfactory progress on conditions precedent for the transaction and Affinity and the buyer are aiming to complete the transaction soon,» the company said in a filing. The company will get $1.001 billion from the proposed sale, of which $903 million will be paid at closing. About $98.8 million may be received subsequently subject to certain contingent events, which includes an earnout of up to $70 million based on EBITDA achieved by the GCC business for FY24. Following deliberations regarding future expansion plans, capex requirements, cash reserves, the Board has expressed its desire to consider distribution of 70-80% of the upfront consideration of $903 million, as dividend to its shareholders.

Maruti Suzuki, Hyundai Motor, Tata Motors and Renault India posted the highest-ever share of sales from rural markets in calendar year 2023 amid improved consumer sentiments and better liquidity among the rural rich. However, inflationary pressures weighed on rural demand for fast-moving consumer goods and consumer durables. While the share of rural sales at Maruti Suzuki, the country’s top carmaker, rose to 45% in CY2023, it stood at 19.1% at Hyundai and 40% each at Tata Motors and Renault India respectively. Senior industry executives ET spoke to said even in the rural markets, the gap in incomes between varied sets of consumers has been triggering demand more at the higher end of the market, which is expected to eventually percolate down and make broad based the recovery over the next few quarters. “Rural markets outpaced urban centres (at Maruti Suzuki) last year growing by 10.4%.

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Considering the upper price band of Rs 331, the stock is expected to list at a premium of 12% However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. «The company has carved a niche with its diverse product range and tailored solutions. However, financial hiccups, including past losses and a negative return on equity, cast a shadow on Jyoti's otherwise attractive profile.