By Nandan Mandayam BENGALURU (Reuters) – Byju’s troubles have mounted as its auditor Deloitte and three board members cut ties with the Indian education technology startup that was once an investor darling valued at $22 billion. The firm attracted billions of dollars from investors across the globe and went on an acquisition spree during the …
Factbox-Indian edtech startup Byju’s top acquisitions, investors Read More »
By Sudarshan Varadhan and Shivam Patel NEW DELHI (Reuters) – India will cut tariffs for daytime power use but charge a premium when electricity demand peaks during the night, in a bid to manage surging demand and boost the use of renewable energy. The new policy, outlined by the federal power ministry on Friday, will …
India to cut daytime power tariffs, raise fees for night use Read More »
By M. Sriram MUMBAI (Reuters) – Education technology giant Byju’s, one of India’s biggest startups valued at $22 billion last year, has run into problems, from lawsuits and auditing issues to layoffs and board-room exits. In a major setback for a company often described as one of India’s most successful startups, its auditor, Deloitte, has …
Explainer-Top Indian startup Byju’s battles auditor criticism, board exits Read More »
By Nidhi Verma NEW DELHI (Reuters) – The Indian government this week kicked off a multi-billion-dollar process seeking equity in its three big state refiners in return for funding towards the firms’ energy transition projects, three sources familiar with the matter told Reuters. The Oil Ministry on Wednesday asked state-controlled Indian Oil Corp and Bharat …
Exclusive-India starts process to fund state refiners’ green goals via equity -sources Read More »
(Reuters) -The U.S Attorney’s Office in Brooklyn, New York, has sent inquiries in recent months to investors with large holdings in Adani Group, focused on what the Indian ports-to-power giant told them, Bloomberg News reported on Thursday. The U.S. Securities and Exchange Commission also has a similar probe underway, Bloomberg reported, citing two people familiar …
US regulators probe India’s Adani Group investor statements -Bloomberg News Read More »
BENGALURU (Reuters) -India’s corporate affairs ministry ordered an inspection of edtech startup Byju’s last week, CNBC-TV18 reported on Friday, citing sources. The ministry has taken cognisance of various corporate governance lapses at Byju’s, the television channel reported. A Byju’s spokesperson denied the report and called it speculative. “We have not received any such correspondence from …
India ordered inspection of Byju’s last week – CNBC-TV18 Read More »
By Nimesh Vora MUMBAI (Reuters) – With premiums on the Indian rupee inching to decade-lows, exporters are looking to manage their foreign currency receivables through alternatives ranging from exotic derivatives to simply delaying their hedge. The shrinking U.S.-India interest rate differentials have sent the rupee/dollar forward premiums plunging. Last week, the 1-year forward implied yield …
Low Indian rupee premiums prompt exporters to explore alternative hedges Read More »
By YP Rajesh NEW DELHI (Reuters) -The aerospace unit of General Electric on Thursday announced it had signed an agreement with India’s state-owned Hindustan Aeronautics to jointly make engines in India to power fighter jets for the Indian Air Force. The announcement was timed to coincide with Indian Prime Minister Narendra Modi’s landmark visit to …
Why GE plan to make fighter jet engines in India is a big deal Read More »
BENGALURU (Reuters) -India’s market regulator said on Thursday it had barred Eros Group Managing Director Sunil Arjan Lulla and three of the media company’s entities from the securities market, citing accounting irregularities at the firm. In an interim order, the Securities and Exchange Board of India (SEBI) said it had found prima facie evidence that …
India’s market regulator bars Eros Group entities, MD Lulla from securities market Read More »
WASHINGTON (Reuters) – The U.S. and India have agreed to terminate six outstanding disputes at the World Trade Organization, the U.S. Trade Representative’s office said in a statement on Thursday after a meeting between President Joe Biden and Prime Minister Narendra Modi. India also agreed to remove retaliatory tariffs on certain U.S. products including chickpeas, …
US, India agree to terminate six disputes at WTO -US statement Read More »
