India’s largest and richest state, Maharashtra, will register its millionth new coronavirus infection on Friday, putting it on par with Russia in the pandemic and quelling India’s attempts to reverse an economic downturn. The western state, home to the financial capital Mumbai, is on track to surpass the million mark, …
Read More »What the cricket crisis in South Africa is all about
South African cricket hit rock bottom after the Sports Confederation and the South African Olympic Committee (SASCOC) ordered the CSA board and its executive to step aside after nine months of administrative implosion. In that time, CSA suspended and fired a CEO (and other senior officials), saw another CEO and …
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Read More »Sebi News: Sebi Raises Minimum Equity Investment Corpus to 75% for Multicap Funds | India Business News
(Representative image) NEW DELHI: Market regulator Sebi (Securities and Exchange Board of India) amended the asset allocation framework on Friday to multicap mutual funds, calling for such funds to have a minimum corpus of 75 percent invested in stocks compared to the current mandate of 65 percent. In addition, such …
Read More »With Happiest Minds, 77-year-old Ashok Soota wins IPO jackpot for the second time
Ashok Soota, pioneer of India’s information technology services industry, has led three outsourcing companies, including one of the largest in the country, Wipro Ltd., and has gone public with two of them. The second was this week when the initial public offering of its latest startup, Happiest Minds Technologies Ltd., …
Read More »Sebi Multicap Rules: Broader Market Awaits Rs 40 Billion Bonanza As Sebi Modifies Multicap Fund Rules
NEW DELHI: The Securities and Exchange Board of India (Sebi) changed the categorization rules for multicap funds on Friday, increasing the minimum capital investment for the category. This will result in up to Rs 40 billion moving from a large-cap market to a larger market, analysts said. The market regulator …
Read More »TikTok ban: Donald Trump’s TikTok ban leaves Apple, Google caught in the middle
By Shelly Banjo It seems increasingly likely that TikTok will not be able to sell its US operations by the mid-September deadline imposed in an executive order issued by President Donald Trump last month. That doesn’t mean that the video app loved by tens of millions of teens will shut …
Read More »Moody’s India Rating: Moody’s Projects India’s Economy to Contract 11.5% This Fiscal Year | India Business News
NEW DELHI: Moody’s Investors Service cut Friday growth projection for the current fiscal to (-) 11.5 percent, from (-) 4 percent previously estimated, saying that the economic contraction would be more pronounced due to the lockdown and the continued increase in coronavirus cases. The US-based rating agency also projected that …
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