10:10 AM
Blogger
India’s central bank governor Shaktikanta Das signaled no immediate plans to cut interest rates despite recent easing in inflation. Speaking at a forum in Singapore, he stressed the importance of maintaining a target inflation rate of 4%. The Reserve Bank of India has kept interest rates unchanged for over 18 months.
3:10 AM
Blogger
12:11 AM
Blogger
Swiss authorities have frozen over $310 million across six bank accounts connected to the Adani Group as part of a money laundering and securities forgery investigation. Initiated in 2021, the probe has uncovered financial practices involving offshore entities. Recent allegations against SEBI chairperson Madhabi Puri Buch have reignited the controversy.
12:10 AM
Blogger
The Enforcement Directorate has charged Viresh Joshi, a former chief trader at Axis Mutual Fund, with sharing sensitive market information with brokers in Dubai for kickbacks. Searches in Mumbai and Kolkata uncovered foreign currencies and documents related to overseas properties. Joshi allegedly earned illegal profits amounting to Rs 30.56 crore through front running activities.
12:10 AM
Blogger
Dan Simkowitz, Morgan Stanley's co-president, forecasts that merger, acquisition, and IPO activities will remain subdued for the rest of this year but could rise next year with anticipated interest rate cuts by central banks. Private equity firms might face increased pressure to make deals. The bank’s net interest income is expected to be modestly lower in the third quarter.
2:10 PM
Blogger
Bank of America has initiated an internal probe following a whistleblower's claim that its bankers leaked confidential details to investors ahead of a major stock sale in India. The $200 million stake sale involved Aditya Birla Sun Life AMC. While the bank denies the allegations, it is thoroughly investigating the matter.
2:10 PM
Blogger
Eight out of India's top-10 most valued companies saw their combined market valuation decrease by Rs 2,01,699.77 crore last week. Reliance Industries and Tata Consultancy Services were the largest losers. Despite the overall decline, Hindustan Unilever and HDFC Bank managed to increase their market valuations during this period.
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