Wednesday, 10 August, 2022
TopicBloomberg wire

Topic: Bloomberg wire

RBI intervenes with multi-pronged strategy in battle against rupee fall

The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency.

Indian companies look towards sanction-ravaged Russia to expand their operations

From drugmakers to consumer good firms, numerous Indian firms are eyeing Moscow for more contracts, seeking fresh partners and vendors.

Mukesh Ambani’s daughter Isha Ambani to be named chair of Reliance retail

Isha Ambani, the current director of Reliance Retail Ventures Ltd., is expected to be announced as the chair as early as Wednesday.

Hong Kong’s future as financial center in jeopardy after Xi Jinping tightens restrictions

Situation looks dire with the annual economic growth forecast decreased, mainland's rigid Covid policies affects the city's competitive edge.

NATO summit: Finland and Sweden closer to joining, China in focus

The G-7 nations made proposals to limit Putin's energy revenue by lowering oil and gas prices. Further, pressure was put on Beijing of a larger military alliance in the Asia-Pacific.

Oil prices fall as concerns over recession overshadow tightening supply

West Texas Intermediate fell to trade near $111 a barrel after adding around 7% over the previous three sessions.

In a move to expand in US, Byju’s offers over $1 billion for edtech firm 2U

Byju’s is said to have made the offer of about $15 a share to 2U’s board last week. The offer represents a 61% premium to 2U’s closing price of $9.30 on Nasdaq on Tuesday.

Zomato loses about $1.1 billion of market value in two days after Blinkit acquisition deal

Shares of the food-delivery platform tumbled 8.4% in Mumbai trading Tuesday on top of a 6.6% drop Monday. The two-day fall to Rs 60.3 put shares 21% below the IPO price.

Mukesh Ambani names son Akash Ambani successor of Jio, appoints him chairman of the board

Akash Ambani, non-executive director of the country’s top wireless carrier, was appointed chairman after Mukesh Ambani resigned from the board.

Central banks in Asia spend billions to bolster weakening currencies against rising US dollar

Learning from the 1997 Asian financial crisis, central banks have been accumulating dollars to help defend their currencies during periods of wild market swings.

On Camera

YourTurn

File photo of Sterlite copper unit at Tuticorin in Tamil Nadu | By special arrangement

Shut since 2018 violence, TN Sterlite plant’s closure cost economy Rs 14,749 cr, says study

Copper plant in Thoothukudi was closed after protests turned violent & police firing left 13 people dead. Job losses one of major impacts, says study by NGO CUTS International.

Defence

Representational image | Indian Army soldiers during the Army Day Parade at Cariappa Parade Ground in New Delhi | ANI Photo

Army looks to reduce troops by 2 lakh, deployment in Kashmir could be rejigged

The Army, which faces a shortage of about 1.35 lakh personnel, is aiming to reduce its strength from 12.8 lakh to around 10.8 lakh.

In Kashmir 3 years on, 3 positive changes, 3 things that should’ve happened & 3 that got worse

Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.
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