ICICI Bank's move to amalgamate Bank of Rajasthan (BoR) with itself at a 1:4.72 ratio indicates the bank would pay a premium of 89.4 per cent to Bank of Rajasthan's closing stock price on Tuesday.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
China's intriguing scandal relating to Bo Xilai took a new turn with revelations that Briton Neil Heywood murdered by the expelled Communist Party leader's wife was a spy working for British secret service - MI6.
The boards of ICICI Bank and Bank of Rajasthan put their seal of approval on the share exchange formula arrived at last week, when India's largest private sector lender announced the move to amalgamate BoR with itself.
A Chinese forensic scientist has cast doubt on the official version of the death of a Briton, which triggered a huge political scandal, ending the career of senior Communist Party leader Bo Xilai, whose wife has been convicted of poisoning the UK businessman.
The politically sensitive murder trial of Gu Kailai, the wife of disgraced senior Chinese Communist Party leader Bo Xilai, for allegedly killing a British businessman, would begin from August 9.
Prannoy is only seeded Indian player at No. 7 in the men's singles draw of 32 as he will begin his campaign against Loh Kean Yew of Singapore, against whom the Indian has a 4-1 win-loss record.
BoA has given formal approval to 15 special economic zones, including those of TCS and Cognizant, and in-principle nod to five, Commerce Secretary and BoA Chairman G K Pillai told reporters after the meeting in New Delhi.
The ex-police chief at the centre of China's biggest political scandal in years that rocked the ruling the Communist Party ahead of a key party meet to select new leadership has been charged with defection to the United States and abuse of power, the state-media reported on Wednesday.
Disgraced Chinese Communist Party leader Bo Xilai sprang a surprise on the first day of his high profile trial on Thursday by defiantly going back on his earlier testimony, calling a witness a "mad dog" and describing his wife's evidence against him as "laughable".
India's current account deficit narrowed to $1.3 billion or 0.2 per cent of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on Tuesday. However, for the 2022-23 fiscal, the current account balance recorded a deficit of 2 per cent of GDP compared to 1.2 per cent in 2021-22. "India's current account deficit (CAD) decreased to $1.3 billion (0.2 per cent of GDP) in Q4:2022-23 from $16.8 billion (2.0 per cent of GDP) in Q3:2022-231, and $13.4 billion (1.6 per cent of GDP) a year ago [Q4:2021-22]," as per the RBI's 'Developments in India's Balance of Payments during the Fourth Quarter (January-March) of 2022-23'.
Bank of Maharashtra's public issue of 10 crore (100 million) shares at Rs 23 per share has been oversubscribed by over 10 times.
Senior Chinese Communist Party leader Zhang Dejiang, who replaced disgraced Bo Xilai as the party chief of Chongqing, was on Thursday elected as chairman of the country's Parliament.
The trial of disgraced Chinese leader Bo Xilai's wife Gu Kailai, who was charged with the murder of a British businessman, would test the credibility of Chinese judicial system, state-run media said in Beijing on Friday.
The promoters, instead, raised it to 63.15 per cent, while reporting they'd brought it down to 28.6 per cent.
"The 46th meeting of the BoA on SEZs to consider proposals for setting up of SEZs and other miscellaneous requests is scheduled to be held on May 31," it said.
Gu Kailai, the wife of ousted Chinese leader Bo Xilai, has confessed in writing about her involvement in the murder of a British businessman, while four police officers admitted covering up the crime, state media reported on Friday.
Purged Chinese leader Bo Xilai ran a sophisticated bugging system that did not even spare his party boss and President Hu Jintao and this led to his downfall, the New York Times reported on Thursday.
Mass protests continued in south-western Chinese city of Chongqing, the base of the purged charismatic Communist party leader Bo Xilai, with the authorities maintaining that the upsurge had nothing to do with his axing.
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
Bank of India, the first public sector bank to establish a foreign branch, would open another five overseas offices and raise tier-II capital of Rs 300-500 crore (Rs 3-5 billion) to improve its capital adequacy ratio.
Bank of Baroda (BoB) has made prudential provision of Rs 500 crore for exposure to Go First, which has sought bankruptcy protection after the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency. Sanjiv Chadha, managing director and chief executive officer of BoB, said the bank identifies issues in advance and makes provisions if required. The Mumbai-based public sector lender has an exposure of Rs 1,300 crore to the troubled airline.
India's current account deficit declined sharply to 1 per cent of the GDP or $8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD), which represents the difference between the total amount of money sent abroad and money received from overseas across the economy, was 3.8 per cent of GDP or $30.9 billion in the July-September quarter in 2022-23. CAD was $9.2 billion or 1.1 per cent of GDP in the first quarter (April-June) of the current financial year 2023-24.
In yet another ceasefire violation, Pakistan on Thursday again resorted to firing on Border Out Posts along the International Border in the Samba and Jammu districts of Jammu and Kashmir.
Bank of India will not resort to panic selling and is open to offer funds to brokers needing additional liquidity in the face of the stock market mayhem, a top bank official said.
Vinod Mirani gives the box office verdict of the week.
Trade analyst Vinod Mirani gives us the box office verdict for the week.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
Bracing for the once-in-a-decade leadership change, China's ruling Communist elite on Sunday expelled disgraced leader Bo Xilai, accused of corruption, sex and sleaze, in a scandal that has thrown the party into its biggest crisis in decades.
Bank of Maharashtra will tap the capital market on February 25 to raise Rs 230 crore (Rs 2.30 billion), which would be used for both organic and inorganic expansion.
Here's a look at the weekend box office report.
A look at the weekend box office report.
China on Wednesday braced for a high profile murder trial of Gu Kailai, wife of disgraced ruling Communist Party leader Bo Xilai, which will begin on Thursday.
All 463 branches of BoR has started functioning as ICICI Bank's as per the directive of the Reserve Bank of India.
Calendar 2022 will go down as a year when the real star was the Next Big Idea.
Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said. Besides, foreign fund trading activity would also guide the trends in equities. "All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.
Development commissioners have been asked to forward proposals regarding SEZs along with their comments at the earliest so that they could be deliberated over at the meeting, it said.
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