German Chancellor Olaf Scholz has warned against a “hostile takeover” of Commerzbank, after Italy’s UniCredit revealed it had significantly increased its stake in Germany’s second-largest bank, from 9 percent to 21 percent. Plus, with New York’s Climate Week underway alongside the UN General Assembly, FRANCE 24’s Yuka Royer speaks to Gregory Renand, head of the Z … Read more
The government could consider a new turnaround plan for the public sector non-life insurance companies after assessing their capital needs, CNBC-TV18 learns. Fundraising or capital infusion into the companies could be options, but further fiscal support from the government will be linked to the companies showing profits. The government had previously infused close to ₹17,500 … Read more
As the government gears up for the 55th GST Council meeting, likely to take place in November 2024, the council’s nominated Group of Ministers (GoM) has begun holding meetings. The GoM on “boosting the real estate sector under GST,” headed by Pramod Sawant, Chief Minister of Goa, is scheduled to meet on September 24. Sources … Read more
India’s largest oil and gas bid round attracted four key players, including state-owned ONGC, OIL, and private sector Vedanta Ltd. Most of the 28 blocks on offer received only two bids, according to the Directorate General of Hydrocarbons (DGH). This bid round, the OALP-IX, covered an area of 1.36 lakh square kilometres, with blocks offered … Read more
In November 2020, 15 Asia-Pacific countries signed the Regional Comprehensive Economic Partnership (RCEP), forming the world’s largest trade pact. However, India, a significant regional economic player, chose to withdraw from the agreement. In a recent exclusive interview with CNBC, Commerce Minister Piyush Goyal shed light on India’s rationale behind opting out of this ambitious trade … Read more