UPS Financial News

Vodafone Idea (Vi) has proposed borrowing Rs 23,000 crore from banks in term loans — and sought another Rs 10,000 crore in bank guarantees — as the country's third-largest telco looks to line up the capital expenditure necessary to compete effectively with bigger rivals Reliance Jio and Airtel in a telecom market that had once threatened to slip into a duopoly. The Vodafone Plc and Aditya Birla Group joint venture, which recently satisfied long-pending demands from the lenders to commit more equity to the business, submitted the term loan proposal at a meeting of a State Bank of India (SBI)-led banking consortium a few days ago, people familiar with the matter said. The loans sought are part of the targeted Rs 55,000-crore ($6.6 billion) capex funding Vi needs to boost 4G coverage and kickstart greenfield 5G rollouts in key markets. In its presentation to lenders, Vi said it needs the money to upgrade its mobile broadband network infrastructure in its 17 priority markets. Techno-economic viability report:

Hollywood and are interested in catching their favorite stars in an interview may be familiar with the show ‘Access Hollywood’. There is good news in store for the fans. This show will now be extended till 2026. NBC Universal has now decided to extend this show for another two years. This entertainment show and its companion show ‘Access Daily with Mario &Kit’ will run through all NBC owned stations and other local station groups till 2026. There will be an additional two seasons. This has been reported by ‘The Hollywood Reporter’.

bio-bitumen from biomass or agricultural waste, a move that would help reduce imports of the material used for asphalting of roads while also addressing the persistent issue of stubble burning. India currently imports about half of its annual requirement of bitumen and the target is to replace imports with bio-bitumen over the next 10 years, a senior government official told ET. «Based on the success of the pilot study, we hope to kick-start production of bio-bitumen on a large scale by the end of 2025,» the official added. The Central Road Research Institute (CRRI) will soon undertake a pilot study with the Indian Institute of Petroleum, Dehradun on a 1-km road stretch which will be built using bio-bitumen. If successful, the technology will be commercialised and transferred to a private entity or public sector enterprises for large-scale production of bio-bitumen, to be used in the construction of national highways.

renewable energy capacity in the ongoing financial year, higher than last fiscal's addition of 18.4 GW, two senior government officials told ET. Renewable energy sources contributed 71% to the 26 GW of power generation capacity that India added in FY24, according to the Council on Energy, Environment and Water. Nodal agencies with auction responsibility are likely to bid out 50 GW of renewable energy capacity in the ongoing FY25, as is the decided trajectory for each of the five years starting FY24. In the last fiscal year, the agencies auctioned around 51 GW of such capacity, according to one of the officials.

India started off strong on the first day of Cannes Lions International Festival of Creativity, touted as the Oscars of the ad-world, with one silver and two bronze Lions at the time of going to press. Ogilvy Mumbai won a Silver Lion in the Outdoor Lions category for their 'Megh Santoor' campaign for Brooke Bond Taj Mahal tea — an innovative musical billboard that played a rendition of 'Raag Megh Malhar' whenever it rained. Last year, the campaign also picked up a Guinness World Record for the largest environmentally interactive billboard. India also shone in the health and wellness category, clinching two bronze Lions. One for Ogilvy's 'The Impossible Choice' campaign and the other for McCann's 'Fit my Feet' campaign. «Our compassion-driven and design-led idea helps uplift individuals with clubfoot while also providing a new commerce stream to the cobbler community of India,» said Prasoon Joshi, chairman, McCann Asia Pacific & CEO and chief creative officer McCann India. Out of a total of 26,573 entries submitted across 31 categories, India has submitted approximately 826 entries and garnered 44 shortlists as of now. With three metals already under its belt, the Indian contingent could potentially best its highest Cannes tally — 47 metals in 2022, including two titanium Lions. Last year, the country grabbed 25 metals. Accenture Song's creative chairperson Nick Law kicked off the festival with their annual 'song simplifies' session.

At the recent BTC Prague event, Trezor’s CEO unveiled the latest additions to Trezor’s comprehensive suite of products and services. The first product launched was a new hardware wallet, Trezor Safe 5, part of the Trezor Safe Family. He also revealed Trezor Expert, a service designed to simplify onboarding into self-custody.

Discerning which coins will skyrocket and which will falter is the key to amassing wealth in the crypto space. Recently, BlockDAG has raised over $51.1 million, catching the eyes of investors globally.

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Russell Investments is giving advisors more flexibility to tailor their clients’ portfolios by broadening its suite of personalized managed accounts.

IFC will make the investment through long-term non-convertible debentures allocated to the project's special purpose vehicles, which are implementing the project.Megawatt peak (MWp) refers to the maximum power output capacity of a solar or wind power project that varies depending on wind speed and strength of sunlight.A joint statement from IFC and Brookfield said that following the commitment, Brookfield will provide solar power to commercial and industrial (C&I) consumers across India at more competitive tariffs through long-term power purchase agreements (PPA) and contribute to the nation’s decarbonization goals."This is IFC’s first investment in Asia and the Pacific using an innovative hybrid offtake structure where the project sells the power generated to C&I consumers under long-term corporate PPAs and merchant market through exchange. The project will be connected to the inter-state transmission system section of India’s green energy corridor," said the statement.Imad N.

America’s biggest bank has a thing for midsize companies. Known for financing and advising megamergers, JPMorgan Chase is spending more of its resources on doing deals for companies valued at $2 billion or less. The goal is to leverage the relationships it has with the roughly 30,000 U.S.

Vodafone Idea (Vi) is confident its operational creditors, including network gear makers Nokia and Ericsson and tower vendor Indus will continue to support it despite delays in clearing their dues as the telco’s upcoming 4G-cum-5G blitz will generate fresh business for them. “Vendor negotiations shouldn’t impact, despite payment issues. With (our) peers’ post-5G capex peak, equipment vendors potentially see Vi as the primary source of growth, making their support likely in addition to the recent preference shares issued for part dues,” Vi’s CFO Murthy GVAS told global brokerage J P Morgan at a recent meeting. Global brokerage J P Morgan also quoted Vi’s Murthy saying that even for Indus, which has “a high proportion of single-tenant towers recently rolled out for LTE coverage, Vi offers a profitable second tenancy and loading revenues that should keep the terms of trade in the telco’s favour”.

In a shareholder notice issued on Friday (14 June), the NAIT board said it plans to take further action to prevent the trust's shares from trading at a significant discount to their prevailing net asset value. According to data from the Association of Investment Companies, the trust is running on an 11.5% discount. abrdn manager departs for Janus Henderson as North American Income swaps investment manager Under the conditional tender mechanism, NAIT's board will buy back up to 15% of its shares provided that, by 30 September 2027, either the NAV total return has not exceeded the to...

According to a stock exchange notice on Friday (14 June), 99.95% of votes were cast in favour of the winding up the company, and as of 8am today (17 June), AEIT will no longer trade on the Main Market of the London Stock Exchange. Asian Energy Impact proposes immediate wind-up as relaunch proposals ruled out Shortly before the wind-up resolution was passed, AEIT said the initial distribution of cash to shareholders was estimated to be in the region of $20m, which is equivalent to 11.4 cents per share. An initial distribution of cash to shareholders is expected to be made available by ...

euro on Monday, as the common currency recovered from the more than one-month lows hit last week driven by political turmoil in Europe. The euro was up 0.1% to $1.0718 on Monday, rebounding from the six-week low of $1.066775 touched last week following news of a snap parliamentary election in France.

Juneteenth 2024 is going to be just one of them. This auspicious occasion marks Maj. Gen. Gordon Granger arriving in Galveston Bay, Texas in 1865 with troops to declare the independence of Black people in the state, two years after President Lincoln signing the iconic Emancipation Proclamation

IIFL Finance's microfinance subsidiary IIFL Samasta Finance has garnered Rs 216 crore through its second public bond issue against a Rs 1,000-crore target despite higher interest rates, as investors were likely concerned over the regulatory scrutiny on IIFL Finance's gold loan business. IIFL Samasta Finance is 100% owned by IIFL Finance.

Kiccha Sudeep has finally opened up on the arrest of his colleague Darshan. Darshan is currently in police custody along with his rumoured girlfriend Pavithra Gowda and 10 other men, for murdering Renuka Swamy, a 33-year old-youth. In an interview with India Today, the ‘Eega’ star said that justice has to be done for the victim’s wife and unborn child. «We are only aware of what the media is showing to us because we are not going to the police station to get the information. It looks like the media and the police are working hard to uncover the truth. There’s no doubt about that… that family deserves justice. That girl deserves justice. Renukaswamy, who died on the streets, deserves justice. The unborn child deserves justice. Above all, everyone should have faith in justice, and justice should prevail in this case,» he told India Today. While he refused to take Darshan’s name directly, the ‘Huccha’ actor said that the incident has tainted the whole Sandalwood industry and it badly needs an image makeover. «Everyone’s heart goes out to that family. The atmosphere doesn’t feel right. The film industry should get justice. All the blame seems to be placed on the film industry. The industry needs a clean chit. There are many artists involved. Cinema is not just one or two people. The film industry will be relieved if the culprit is punished,» he said.

In the face of calls around the world to diversify out of the dollar in recent years, the US has nabbed almost one-third of all the investment that flowed across borders since Covid struck.

Fisher Investments has announced that two new investors will be taking a minority stake in the firm.

The downbeat tone of the start of 2024 has been replaced with an altogether cheerier tune, according to a new report from Franklin Templeton.