DIRS.INFO The most relevant business & tech news

☆ India's Vedanta hits over 1-year low after Moody's downgrades parent
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/file photo Acquire Licensing RightsBENGALURU, Sept 27 (Reuters) - Shares of Indian conglomerate Vedanta (VDAN.NS) fell to their lowest in over a year on Wednesday after Moody's Investors Service downgraded parent Vedanta Resources' senior unsecured bonds, citing a high risk of debt restructuring in the coming months. The rating agency also raised concerns about the ability of Vedanta Resources' operating subsidiaries to generate cash flow in a "softening commodity price environment." Moody's downgraded Vedanta Resources' unsecured bonds to Caa3 from Caa2, and the corporate family rating of the billionaire Anil Agarwal-owned company to Caa2 from Caa1 while maintaining a negative outlook. Vedanta was the top loser on the Nifty 100 index (.NIFTY100), which was down 0.26%.

Persons: Danish Siddiqui, Anil Agarwal, Vedanta, Rama Venkat, Dhanya Ann Thoppil Organizations: Vedanta, REUTERS, Danish, Rights, Moody's Investors Service, Resources, Vedanta Resources, Thomson Locations: Mumbai, India, Caa2, Caa1, Bengaluru

☆ Vedanta is preparing to demerge sprawling operations- Bloomberg News
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. The move to demerge could help Vedanta's parent, Vedanta Resources, to manage its debt load, according to Bloomberg's report, which added that Vedanta Resources will remain the holding company for the new units. Vedanta did not immediately respond to a Reuters request for comment on the report outside business hours. The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed. Vedanta Resources has been scrambling to raise funds due to rating downgrades and concerns about meeting debt obligations.

Persons: Danish Siddiqui, Anil Agarwal, Agarwal, Akanksha, Shweta Agarwal Organizations: Vedanta, REUTERS, Danish, India's Vedanta, Bloomberg, Vedanta Resources, Resources, Hindustan Zinc Ltd, Vedanta Ltd, Thomson Locations: Mumbai, India, Hindustan, Bengaluru

☆ Amazon to roll out ads on Prime Video in 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of streaming service Amazon Prime Video is seen in this illustration picture taken March 5, 2021. REUTERS/Danish Siddiqui/Illustration/File Photo Acquire Licensing RightsSept 22 (Reuters) - Amazon (AMZN.O) Prime Video will next year join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier, as the industry grapples with a slowdown in subscriber growth since the pandemic. Amazon's ad-free tier will cost another $2.99 per month in the U.S., where a Prime subscription currently costs $14.99 per month, or $139 per year. Amazon already shows ads on live event content such as NFL's Thursday Night Football, a practice that will continue even if the subscriber has paid for the ad-free plan, the company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D'Souza and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Danish Siddiqui, Amazon's, Walt Disney, Samrhitha, Savio D'Souza, Krishna Chandra Organizations: Amazon, REUTERS, Danish, Netflix, Disney, Thomson Locations: U.S, Germany, Canada, France, Italy, Spain, Mexico, Australia, Bengaluru

JSW held talks with senior LGES executives in Korea earlier this month, proposing a partnership to manufacture battery cells in India for EVs and energy storage, one of the people with direct knowledge of the discussions said. "Due diligence wise JSW is talking to a lot of people because it needs an ecosystem for an EV. JSW's billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs and its talks to buy a stake in China's MG Motor (600104.SS). Toshiba said it is not able to confirm "at this point" if it is in talks with JSW for a partnership to build battery cells. Tesla is also eyeing India and is in talks with the government to build EVs and batteries there.

Persons: Danish Siddiqui, JSW, LGES, China's CATL, Sajjan Jindal, CATL, Narendra Modi's, JSW's, Ola, Aditi Shah, Neha Arora, Heekyong Yang, Daniel Leussink, Miho Uranaka, Zhang Yan, Alexander Smith Organizations: REUTERS, Danish, Korea's LG Energy, Panasonic, Toshiba, JSW's, Tesla, General Motors, China's, HK, Reuters, JSW, Tata Motors, TVS, Thomson Locations: Mumbai, India, DELHI, Korea, Korean, India's, New Delhi, Seoul, Tokyo, Shanghai

"Due diligence wise JSW is talking to a lot of people because it needs an ecosystem for an EV. JSW's billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs and its talks to buy a stake in China's MG Motor (600104.SS). Toshiba said it is not able to confirm "at this point" if it is in talks with JSW for a partnership to build battery cells. All three sources declined to be identified as the talks are still ongoing and a final decision has not been made. Tesla is also eyeing India and is in talks with the government to build EVs and batteries there.

Torrent is hoping to secure roughly $3 billion to $4 billion in financing for the bid for its much bigger rival, they said. Blackstone (BX.N) is also interested in bidding for Cipla, sources have also said. Apollo is "quite bullish on their Asia strategy, and India in particular...both Cipla and Torrent have strong balance sheets," the person said. Apollo and Torrent, which has yet to confirm its interest in Cipla, did not immediately respond to a request for comment. Foreign banks, including Morgan Stanley (MS.N) and Barclays (BARC.L), are also in talks with Torrent to extend loans and arrange financing for the deal, sources have said.

Persons: Danish Siddiqui, Bernstein, Blackstone, Morgan Stanley, Abbott, Sriram, Aditya Kalra, Edwina Gibbs Organizations: REUTERS, Danish, pharma, Pharmaceutical, Apollo Global Management, Capital Partners, Bain Capital, Blackstone, Mumbai International, JSW, Barclays, Pfizer, Thomson Locations: Cipla, Mumbai, India, MUMBAI, DELHI, Asia

Brochures are seen at a branch of Axis Bank in Mumbai, India, January 22, 2018. REUTERS/Danish Siddiqui/File photo Acquire Licensing RightsNEW DELHI, Sept 15 (Reuters) - The co-CEO of Axis Bank's (AXBK.NS) investment banking unit Axis Capital, Chirag Negandhi, has resigned, according to an internal memo seen by Reuters on Friday. The investment bank will likely tap an outside candidate for Negandhi's role, two sources with direct knowledge of the matter told Reuters. Axis Capital named another co-Chief Executive Salil Pitale as the interim managing director and CEO, as per the memo. Negandhi spent more than 13 years at the Axis' investment banking unit and would continue for three more months, the source added.

Persons: Danish Siddiqui, Salil Pitale, Negandhi, Sriram Mani, Tanvi Mehta, Sethuraman, Shweta Agarwal Organizations: Axis Bank, REUTERS, Danish, Capital, Chirag Negandhi, Reuters, Axis Capital, Cyient DLM, Mankind Pharma, Bikaji, Thomson Locations: Mumbai, India, DELHI, Axis

☆ North Korean ammunition could offer Russian troops flawed but useful support
▼ + stars: | 2023-09-12 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

North Korean leader Kim Jong Un arrived in Russia on Tuesday for meetings with President Vladimir Putin, where U.S. officials say they expect both sides to pursue an arms deal. The White House has said Russia wants to buy "literally millions" of artillery shells and rockets from North Korea. Hinton told Reuters the question of quality in North Korean artillery shells could have an impact if flaws fall outside accepted tolerances. The performance of North Korea's artillery and crews has been suspect since the North Korean army fired around 170 shells at the South Korean island of Yeonpyeong in 2010, killing four people. "However, it would matter if Korean ammunition is of such poor quality that it is just unsafe to use for Russian soldiers - there have been indications that such quality issues play with Korean ammunition," he added.

Persons: Danish Siddiqui, Kim Jong Un, Vladimir Putin, Joseph Dempsey, Siemon Wezeman, Wezeman, Patrick Hinton, Hinton, Josh Smith, Lincoln Organizations: REUTERS, Danish, Rights, International Institute for Strategic Studies, Western, North, Stockholm International Peace Research Institute, British Army, Royal United Services Institute, Korean, Thomson Locations: Pyongyang, North Korea, Rights SEOUL, Korea, Russia, Ukraine, Stockholm, Korean, Yeonpyeong, Washington

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI's one million-a-day target by 2023 end. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank account details. The facility, announced in June, has been activated by large banks, including State Bank of India, the country's largest lender. Top private lender HDFC Bank is working with a technology firm IDEMIA to build a version of offline CBDC transactions for feature phones, according to two people aware of the plans.

Persons: Danish Siddiqui, Sharat Chandra, Akhil Handa, Handa, Jaspreet Kalra, Siddhi Nayak, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Danish, Rights, Reserve Bank of India, UPI, State Bank of India, India Blockchain, HDFC Bank, Bank of Baroda, Thomson Locations: Mumbai, India, Rights MUMBAI, Siddhi

☆ India court orders Jet Airways founder to remain in custody till Sept. 11
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

Naresh Goyal, Chairman of Jet Airways speaks during a news conference in Mumbai, India, November 29, 2017. REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsSept 2 (Reuters) - An Indian court on Saturday decided that Jet Airways (JET.NS) founder Naresh Goyal will remain in India's financial crime agency's custody until Sept. 11, according to two people familiar with the matter. Enforcement Directorate which investigates financial crimes in India had arrested Goyal late on Friday night. Jet Airways did not immediately respond to a request for comment. The case relates to an alleged 5.38 billion Indian rupees ($65.06 million) bank fraud case filed by state lender Canara Bank (CNBK.NS).

Persons: Naresh Goyal, Danish Siddiqui, Goyal, Jayshree, Aditya, Tomasz Janowski Organizations: Jet Airways, REUTERS, Danish, Canara Bank, Goyal, Thomson Locations: Mumbai, India

☆ Billionaire banker Uday Kotak steps down as CEO of Kotak Mahindra Bank
▼ + stars: | 2023-09-02 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +2 min

FILE PHOTO-Uday Kotak, Managing Director of Kotak Mahindra Bank poses for a picture at the company's corporate office in Mumbai January 15, 2015. Kotak Mahindra Bank is India's fourth largest private sector bank by assets. Dipak Gupta, currently the joint managing director, will carry out the chief executive duties until Dec. 31, the bank added. "I thought it appropriate to hand over the baton and stagger the transition," Kotak wrote. The bank has already made an application for the new managing director to India's central bank, the bank said in its exchange notification.

Persons: Uday Kotak, Danish Siddiqui, Dipak Gupta, Kotak, Amit Tandon, Tandon, Anand Dama, Jayshree, Chris Thomas, Miral Fahmy, Tomasz Janowski Organizations: Mahindra Bank, REUTERS, Danish, Kotak Mahindra Bank, Reserve Bank of India, Investor Advisory Services, Global Financial Services, Thomson Locations: Mumbai, India

☆ Pandemic, inflation push 68 million more in Asia into extreme poverty, Asian Development Bank says
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsMANILA, Aug 24 (Reuters) - The coronavirus pandemic and rise in cost of living have pushed close to 70 million more people in developing Asia into extreme poverty as of last year, the Asian Development Bank said, eroding efforts to combat deprivation. Developing Asia consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand. "Asia and the Pacific is steadily recovering from the COVID-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty," said ADB Chief Economist Albert Park. Extreme poverty is defined as living on less than $2.15 a day, based on 2017 figures. Developing Asia was on track to grow 4.8% this year from a year earlier, faster than the previous year's 4.2% expansion, the ADB said in July.

Persons: Danish Siddiqui, Albert Park, Karen Lema, Lincoln Organizations: REUTERS, Danish, Rights, Asian Development Bank, ADB, Thomson Locations: Pitha, Uttarakhand, India, Asia, Pacific, Japan, Australia, New Zealand

☆ Weekend episode: Afghans in limbo two years on, and we remember Danish Siddiqui
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +1 min

Yet, many of the Afghans who worked for U.S. organizations during the 20-year war are still left waiting for visas. On this special weekend episode we visit with one family waiting for visas in Pakistan, and examine the photographic legacy of our colleague Danish Siddiqui, who was killed while covering a clash between Afghan Special Forces and the Taliban in Kandahar. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Further ReadingAfghan Taliban celebrate return to power two years on amid erosion of women's rightsAfghans dreaming of U.S. refuge feel stuck in processing limboDanish Siddiqui: A tributeOur Standards: The Thomson Reuters Trust Principles.

Persons: It's, Danish Siddiqui, Siddiqui Organizations: Apple, Google, Reuters, Afghan Special Forces, Thomson, Reading Locations: Afghanistan, Pakistan, Kandahar

☆ India's Mahindra aims to double tractor exports with new platform
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

A Mahindra and Mahindra sign at one of the carmaker's showrooms in Mumbai, India, August 30, 2016. REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsMUMBAI, Aug 15 (Reuters) - India's largest tractor maker, Mahindra and Mahindra (MAHM.NS), launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India's Mahindra Research Valley and Japan's Mitsubishi Mahindra Agriculture Machinery with an investment of 12 billion rupees ($144 million), Hemant Sikka, president of farm equipment sector at Mahindra said. On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The company is planning to introduce tractors from the new Oja platform in various locations including North America, ASEAN countries, Brazil, Australia, Europe, and the SAARC region.

Persons: Danish Siddiqui, Hemant Sikka, Rajendra, Mark Potter Organizations: Mahindra, REUTERS, Danish, Rights, Reuters, India's Mahindra Research, Mitsubishi Mahindra Agriculture Machinery, Thomson Locations: Mumbai, India, Cape Town , South Africa, North America, ASEAN, Brazil, Australia, Europe, SAARC

☆ Blackstone to submit bid for stake in India's Cipla- report
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: 1 min

Employees and security staff work at the reception area of Cipla at its headquarters in Mumbai, India June 17, 2015. REUTERS/Danish Siddiqui/FILE PHOTOAug 4 (Reuters) - U.S. based private equity fund Blackstone (BX.N) will submit a bid next week to acquire a 33.47% stake in Indian drugmaker Cipla (CIPL.NS), the Economic Times reported on Friday, citing people in the know. Reporting by Manvi Pant in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Manvi, Savio D'Souza Organizations: REUTERS, Danish, Blackstone, Economic Times, Thomson Locations: Cipla, Mumbai, India, Manvi Pant, Bengaluru

The new plant is expected to be built in Somerset, south-west England, while Jaguar Land Rover's UK factories are based near Birmingham, central England. With an initial output of 40 gigawatt hours, Britain said the factory would provide almost half of the battery production needed by 2030. The Faraday Institution has projected UK battery demand to reach over 100 GWh a year by that time. "With this strategic investment, the Tata Group further strengthens its commitment to the UK," Tata Sons Chairman N Chandrasekaran said in the statement. "Almost every car producing nation in the world (is) offering a lot of incentives in order to ensure that they preserve the integrity of their car industry," he said.

Persons: Danish Siddiqui, Rishi Sunak's, Sunak, N Chandrasekaran, Mike Hawes, Andy Palmer, Aston Martin, Jeremy Hunt, wouldn't, Alistair Smout, Sarah Young, William James, Paul Sandle, Emma Rumney Organizations: Tata Motors, REUTERS, Danish, India's Tata Group, Rover, Tata, BBC, European Union, Nissan, Rover's, Faraday, Tata Group, EV, BBC Radio, Britain, Thomson Locations: Mumbai, India, Britain, Spain, Somerset, England, Birmingham, United States, Europe, China, EU

☆ The value of office buildings is sinking – but turning 'zombie' offices into apartments is harder than you think. Here's why.
▼ + stars: | 2023-07-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

About $800 billion may be wiped off the value of offices in major cities this decade, per McKinsey. Converting New York offices into residences is possible but has its challenges, Bloomberg reported. Buildings in the financial district are only eligible if they were built before 1977, while it's 1961 for Midtown structures, Chilelli told Bloomberg. Structural issues must also be considered, Chilelli told Bloomberg. Repurposing a structure can as much as double the price per square foot for a building, Chilelli said.

Persons: Joey Chilelli, Chilelli, Eric Adams —, Maria Torres, Springer, Michael Cohen, Jeff Bezos, Mukesh Ambani, Mukesh Ambani's, Danish Siddiqui, Lilla Smith, Macklowe Organizations: McKinsey, Bloomberg, Service, Vanbarton Group, Williams, Flatiron, Danish, Irving Trust Company, Sixth Locations: New York, Wall, Silicon, Midtown, Manhattan, Mumbai, Lower Manhattan, York

☆ Foxconn-Vedanta JV split credit negative for UK conglomerate- CreditSights
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/File PhotoCHENNAI, July 13 (Reuters) - A decision by Taiwan's Foxconn (2317.TW) to withdraw from a $19.5 billion semiconductor joint venture with Vedanta (VDAN.NS) is a "credit negative" for the Indian conglomerate's UK parent Vedanta Resources, debt research firm CreditSights said on Thursday. CreditSights had previously expected a "minimal credit impact" on Vedanta Resources based on the old arrangement, as Volcan, Vedanta's holding entity was undertaking the semiconductor investments. CreditSights also expects further strain on credit metrics and free cash flows for both Vedanta Resources and India's Vedanta with Foxconn's exit also resulting in a loss of a partner to split manufacturing costs. CreditSights maintained its "buy" rating on Vedanta Resources' bonds saying its refinancing outlook for some debt maturities have improved, helped by $1.3 billion of fresh loan fundraisings.

Persons: Danish Siddiqui, Taiwan's Foxconn, CreditSights, Foxconn, Praveen, Nivedita Organizations: Vedanta, REUTERS, Danish, Indian conglomerate's, Vedanta Resources, JV, Fitch, Thomson Locations: Mumbai, India, CHENNAI, Volcan, Chennai

[1/2] Uday Kotak, Managing Director of Kotak Mahindra Bank poses for a picture at the company's corporate office in Mumbai January 15, 2015. Kotak General Insurance, which is fully-owned by Indian banking giant Kotak Mahindra Bank (KTKM.NS), did not respond to Reuters queries. While the Kotak insurance unit's interest in selling a stake has been reported earlier, its talks with Zurich, the potential deal size and valuation are being reported for the first time. More than 30 companies operate in India's general insurance market, where annual premium collections grew 11% to reach $26.7 billion in 2021-22, helped by rising financial literacy and income levels, CareEdge Ratings said in a report. Already, foreign companies such as Germany's Allianz and South Africa's Lombard have general insurance partnerships with Indian banking or financial groups.

Persons: Uday Kotak, Kotak, South Africa's Lombard, Ergo, Sriram, Tom Sims, Victoria Farr, Aditya Kalra, Jacqueline Wong Organizations: Mahindra Bank, REUTERS, Danish, Zurich Insurance, Kotak, Zurich eyeing, Insurance, Asia's, Germany's Allianz, South, Thomson Locations: Mumbai, India, Zurich, MUMBAI, South Africa's, Europe, China, Frankfurt

☆ India poised to deny funding for Vedanta-Foxconn chip venture - Bloomberg News
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui//File Photo/File PhotoMay 31 (Reuters) - The Indian government is poised to deny crucial funding for Anil Agarwal's chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire's ambition to build India's 'own Silicon Valley.' The venture's application seeking billions in government assistance hasn't met the criteria set by the government, the report said. Foxconn declined to comment on the report, while India's technology ministry and Vedanta did not immediately respond to Reuters requests for comment. "India's own Silicon Valley is a step closer now," Agarwal had said last year after the announcement.

Persons: Danish Siddiqui, Anil Agarwal's, Taiwan's Foxconn, hasn't, Foxconn, Foxconn –, –, Agarwal, Anusha, Shailesh Organizations: Vedanta, REUTERS, Danish, Bloomberg, Hai Precision Industry Co, Thomson Locations: Mumbai, India, Gujarat, Bengaluru

☆ Biden nominates North Korea human rights envoy, first since 2017
▼ + stars: | 2023-01-23 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

She speaks Korean and has previously worked on North Korean human rights as a special assistant in the envoy's office, the statement said. The special envoy position - and a similar one in South Korea - had become controversial as preceding administrations tried to bring North Korea to the negotiating table. South Korea's ambassador on North Korean human rights expressed disappointment last year that Biden's administration had yet to appoint an envoy for the issue at the time. North Korea has repeatedly rejected accusations of human rights abuses and blames sanctions for a dire humanitarian situation. A landmark 2014 U.N. report on North Korean human rights concluded that North Korean security chiefs - and possibly leader Kim Jong Un himself - should face justice for overseeing a state-controlled system of Nazi-style atrocities.

☆ India's Yes Bank to exit reconstruction scheme after lock-in ends
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Yes Bank is pictured on the facade of its headquarters in Mumbai, India January 17, 2018. REUTERS/Danish SiddiquiBENGALURU, Sept 23 (Reuters) - India's Yes Bank Ltd (YESB.NS) said on Friday the Reserve Bank of India would allow it to exit a reconstruction scheme put in place more than two years ago only after the share lock-in period ends. The bank said in a regulatory filing the lock-in period for shares of existing shareholders would end in March next year. In March 2020, Yes Bank's financial position had seriously deteriorated, sparking contagion risk in the banking system from the then fifth largest bank in India. Earlier this week, it approved private equity firm JC Flowers ARC as the buyer for its $6 billion stressed loan portfolio.

☆ India's Mahindra's lending arm sees vehicle recovery sliding 75% on RBI order
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

People walk past a screen displaying Mahindra and Mahindra logo before the start of a news conference in Mumbai, India May 30, 2016. REUTERS/Danish SiddiquiBENGALURU, Sept 23 (Reuters) - India's Mahindra and Mahindra Financial Services (MMFSL) (MMFS.NS) said on Friday its monthly vehicle recovery would temporarily fall by about 75%, a day after the country's central bank directed the company to stop using third-party services for repossessions. The company's shares tumbled as much as 10% to 201.35 rupees as of 0414 GMT, their biggest intra-day percentage slide in 17 months. The Reserve Bank of India late on Thursday directed the company to stop using third-party services for recoveries until further orders, citing "material supervisory concerns." The halt on vehicle recovery by the third-party agencies is not expected to have any material impact on its financials, the company said.

☆ Sistemul sanitar din India este depășit; Corpurile oamenilor care au murit de COVID sunt incinerate în masă
▼ + stars: | 2021-04-25 | by ( ) www.jurnal.md time to read: +3 min

În aceste condiții, spitalele din această țară sunt depășite și s-a produs o criză de oxigen, iar crematoriile au ajuns să ardă cadavrele persoanelor decedate de COVID în masă, transmite Digi24. India a raportat vineri peste 332.000 de cazuri noi de coronavirus, fiind a doua zi la rând cu record de infectări. BBC relatează că sistemul sanitar din India abia mai face față, existând în această perioadă o criză a paturilor și a oxigenului necesar pentru tratarea pacienților în stare critică. Fotojurnalistul Danish Siddiqui a documentat pentru agenția Reuters subiectul incinerărilor în masă și a publicat pe contul său de Instagram câteva imagini. În capitala statului, Mumbai, cel puțin 13 pacienți au murit joi după ce un incendiu a izbucnit în unitatea de terapie intensivă a unui spital care tratează pacienți cu COVID.

Persons: Fotojurnalistul, Reuters Organizations: Digi24, BBC, The New York Locations: India, Statele Unite, The New York Times, Maharashtra, Mumbai

Search resuls for: "Danish Siddiqui"

24 mentions found