Reliance Industries' mega rights issue largest in world by non-financial issuer in 10 years, says analyst
Oil-to-telecom conglomerate Reliance Industries Ltd's rights issue opened for the subscription of shareholders on 20 May 20 and will close on Wednesday.
DBS Bank expected to roll out more branches in India from October through new wholly-owned subsidiary
DBS is a big project and infrastructure finance house, rated among the top three or four in Asia
MHA raises objection to Industrial and Commercial Bank of China's proposal to open second branch in India
The Ministry of Home Affairs (MHA) has reportedly raised objections to a proposal by the Industrial and Commercial Bank of China (ICBC) to open a second branch in India.
RBI approval follows Prime Minister Narendra Modi's commitment that India would expedite procedures to allow the BoC to set up branches in India.
China's central bank wants to regulate power usage of bitcoin miners for reducing the scale of their production
China had ordered all initial coin offerings to cease and all cryptocurrency trading exchanges to be shuttered with the aim of containing financial risks.
Exchanges were also told to stop allowing new user registrations as of 15 September, according to a government notice signed by the Beijing city group.
The main cost of stronger growth in China "is further large increases in public and private debt", the IMF said in its annual review of China's economy.
In fresh troubles for Sahara, a US court has issued show-cause notice to the group in connection with a $350 million lawsuit seeking attachment of its two prized hotel assets here -- Plaza and Dream Downtown.
However, it is unlikely that the group will get enough funds to buy the iconic hotel back
In a statement, Sahara said "submissions made before the court for adjudication in a sub-judice matter cannot be subjected to public debates and speculative media trials, as the same can attract contemptuous liability".
In fresh troubles for crisis-hit Sahara, its over Rs 5,000-crore worth Grosvenor House hotel has been put on sale by the lender Bank of China after a default, which the group attributed to certain "technical breaches".
Sahara and Mirach were asked to finalise their deal by 20 February to help arrange funds for securing release of Roy and his two colleagues, who have been lodged in Tihar Jail for almost a year now.
The Mirach Capital Group chief did not agree that his firm had to do anything with the deal not working out smoothly.
The Berlin-based anti-corruption watchdog named Bank of China, Honda Motor, Bank of Communications, Agricultural Bank of China and Russia's Sberbank as the five least transparent companies.<br />
If the world could avoid recession by printing money it should have done so long ago. Maybe more of the same remedies that don't work isn't the answer
The jump in foreign debt shows that China, which lends more than it borrows, is borrowing more from overseas to hedge against the devaluation of its foreign exchange reserves.
RBS has halved the size of its investment bank as part of a major retreat since its 2008 taxpayer bailout, and has been forced by the British government and lower profitability across the industry to extend the retreat further.