Business and finance

Fitch says no immediate impact on Adani ratings after Hindenburg report

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Ratings agency Fitch said on Friday it saw no immediate impact on its ratings of Adani Group entities and their securities, following US short-seller Hindenburg Research’s report last week. Hindenburg’s scathing attack on the conglomerate questioned the firm’s debt levels and use of tax havens, but the Group has called the report baseless and affirmed … Read more

Amul hikes milk prices by Rs 2 per litre; Gujarat exempted

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The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets its dairy products under the brand name ‘Amul’, on Friday increased the prices of milk by Rs 2 per litre for all markets except Gujarat. Jayen Mehta, Managing Director of the Anand-headquartered federation, said the hike in milk prices is not applicable to Gujarat. “We have … Read more

India’s services sector growth eases slightly in January

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NEW DELHI: The Indian services sector growth rate moderated in January as output and sales rose at softer rates, while subdued level of confidence among service providers towards future outlook appeared to have stymied job creation, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from … Read more

Adani Enterprises to be dropped from Dow Jones sustainability indices

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NEW DELHI: S&P Dow Jones has said it will remove Adani Group’s flagship firm Adani Enterprises from sustainability indices with effect from February 7 following a media and stakeholder analysis triggered by allegations of accounting fraud. The move comes amid leading stock exchanges BSE and NSE putting three Adani Group companies — Adani Enterprises, Adani … Read more

Marathon’s first Bitcoin sale in 2 years not the result of distress

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The second largest publicly-listed holder of Bitcoin, crypto mining firm Marathon Digital Holdings has offloaded some of its Bitcoin for the first time in two years.  A spokesman told Cointelegraph this was not a result of financial distress.  As per a January update posted on Feb. 2, the company disclosed it sold 1,500 BTC, worth $35.3 … Read more

Australia bolsters crypto watchdogs in ”multi-stage’ plan to fight scams

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The Australian government is bolstering its market regulator’s digital asset team as part of a “multi-stage approach” aimed at clamping down on crypto and ensuring proper risk disclosures from crypto firms. A Feb. 2 joint statement by Australian Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones explained that the new measures are aimed at protecting consumers … Read more

Shark Tank India 2: 18-year-old pitcher Shreyaan Daga surprises Sharks as he reveals he became an entrepreneur at the age of eight

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The first pitch of the day in Shark Tank India is from the founder of sanitary napkin disposer Ajinkya Dhariya from Pune. He shares several features of how to re-utilise disposed sanitary napkins. His ask is Rs 50 lakh for 2% equity.Ajinkya is 26-year-old and comes from a business family and they have always wanted … Read more

Gautam Adani in talks with creditors to prepay share pledges to boost confidence

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NEW DELHI: Embattled billionaire Gautam Adani is in talks with creditors to prepay some loans backed by pledged shares as he seeks to restore confidence in his conglomerate’s financial health, a person with knowledge of the matter said.The move would see lenders release some of the stock in Adani Group companies that was pledged as … Read more