The SEC provided the industry a so-called no-action letter, which means the regulator won’t punish bond dealers for violating the regulation. The relief lapses on Jan. 3, the SEC said. In a Friday statement, Sifma signaled the SEC’s decision fell short of what’s needed.
Balkrishna Industries on Saturday said it will raise up to Rs 1,000 crore through long-term borrowings. In a regulatory filing, the company said its board at a meeting held on Saturday decided to raise "funds up to Rs 1,000 crore through broader means of long-term finance".
Digital currencies sold off after China’s central bank said all cryptocurrency-related transactions were illegal, according to a Q&A statement on the People’s Bank of China’s website. Bitcoin, the largest digital coin, fell as much as 8.9%, while Ether lost near 13%. The Bloomberg Galaxy Crypto Index, a gauge of some of the most-prominent cryptos, lost as much as 11%.
Shares in the cryptocurrency exchange closed on Friday at their lowest since Aug. 3 after China banned all crypto-related transactions. It’s the latest of several events that have pushed the stock 39% below its opening levels on April 14, the day it went public via direct listing.
Shares in Evergrande NEV tumbled as much as 25.8% on Friday, bringing losses for the year to 93%. In February, when the stock was at its peak, Evergrande NEV, which hasn’t mass produced a single car, was valued at more than Ford Motor Co. and General Motors Co.
Jhunjhunwala, who is referred to as the Warren Buffett of India, has invested Rs 260 crore in a new budget airline venture piloted by aviation veteran Vinay Dube. The airline is expected to launch operation soon. Dube told Times of India that SNV Aviation, the holding company of Akasa Airline, is awaiting a no objection certificate from the aviation ministry.
The poll aims to identify and recognise publicly listed companies in 2 categories: by country and by sector, in which it operates. Over 1,070 fund managers, analysts, bankers, and rating agencies took part in the voting which concluded on July 16, 2021.
The Federal Reserve has cut its 2021 U.S. growth forecasts and projects a 5.9% rate, versus 7% previously. Upcoming data will show if the coronavirus continues to undermine the recovery. Consumer confidence in September is on tap, after August readings came in well short of estimates, dropping to a six-month low.
While all of India Inc readies itself with price discounts and offers to bolster sales ahead of the Diwali rush, builders are offering discounts and gifts to home buyers, deferring payment plans, and also foregoing charges to tap into the revival in the property market.
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