DIRS.INFO The most relevant business & tech news

☆ A farmer who lives near Elon Musk's Texas campus says the state's lack of regulations means it's like the 'Wild West' for developers
▼ + stars: | 2023-05-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Texas' is a "Wild West" for developers like Elon Musk's Boring Company, a farmer told The WaPo. The Boring Company and SpaceX both have built sites in Bastrop, a rural area near Austin. A farmer who lives near Elon Musk's Texas campus around 30 miles east of Austin says that the boom in development in the area means it's like "the Wild West." The Boring Company, Musk's construction company — which builds tunnels under cities to help alleviate traffic congestion — began work on its Bastrop facility in 2021. At the public meeting, however, some local residents did show support for the boost to Bastrop's economy that Musk's investments would bring.

☆ JPMorgan explains why it's cautious about ASEAN markets
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan explains why it's cautious about ASEAN marketsRajiv Batra of JPMorgan cites a possible U.S. recession and fading tailwinds from China's reopening as factors.

☆ Sanction hit tars BAT’s US listing hopes
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - British American Tobacco (BATS.L) could have trouble getting more American love. The $635 million settlement plus interest may be less of a financial spoil for the $82 billion giant. Still, investors including Rajiv Jain’s GQG Partners, had hoped BAT could move its listing to the United States to close a yawning valuation gap. The reputational stain from its fine, however, raises the risk that if it were to move stateside, U.S. investors may still apply a discount. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

NEW DELHI, April 11 (Reuters) - Three public policy executives of the India team of Samsung Electronics (005930.KS) have resigned, sources told Reuters on Tuesday, in simultaneous departures as the country's biggest smartphone player faces several regulatory headaches. Public policy teams have increasingly critical roles in companies efforts to balance regulatory issues as Prime Minister Narendra Modi's government has boosted domestic electronics manufacturing while backing tougher regulations on tech firms. Binu George, who looked at corporate affairs and strategy, Surabhi Pant who worked on policy and public affairs, and Nikhil Kaura from the same team quit last week, two sources said. They were part of a seven-member team headed by Rajiv Aggarwal, a former bureaucrat who, before joining Samsung in December, led public policy at Meta (META.O) and Uber (UBER.N) in India. Samsung racked up sales of $10.3 billion in India in fiscal 2021-22, with smartphones making up $6.7 billion.

Yet he remains at the centre of India's opposition politics and the main target of Prime Minister Narendra Modi's Hindu- nationalist Bharatiya Janata Party (BJP). Gandhi entered politics and was first elected to parliament in 2004 from his family borough of Amethi in the northern heartland state of Uttar Pradesh. He repeated that victory in 2009 and 2014 but suffered a shock setback in 2019 when he lost the seat. However, he had also contested a seat in the Kerala state and won there to return to parliament. Outside parliament, he has often reminded his supporters of his family's commitment and sacrifices, talking about the assassinations of his grandmother, then Prime Minister Indira Gandhi, and his former prime minister father, Rajiv Gandhi.

[1/2] Air India passenger aircraft are seen on the tarmac at Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2023. Current limits on the amount of flying allowed between India and many markets date back to heavy losses at Air India around the beginning of the last decade, analysts said. "We are not getting enough share from this market," Turkish Airlines Chief Executive Bilal Eksi told the CAPA India conference. "I think it's about time that our carriers looked at the international market with greater focus. Other analysts noted India is not alone in making use of a post-war system of air traffic agreements to aid development.

☆ GQG Partners likely to increase Adani investment, says founder
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 8 (Reuters) - GQG Partners would likely expand its investment in the Adani group, the fund firm's founder Rajiv Jain said on Wednesday, a week after its $1.9 billion infusion into the embattled Indian conglomerate. GQG Partners, co-founded by Jain in 2016, bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report in January sparked a stock rout. Last week, pension fund investor Cbus Super, with A$71 billion ($46.82 billion) under management, told Reuters they had queried GQG about the Adani purchase. A GQG spokesperson said Jain's trip had been planned for some time and the discussions included topics other than Adani. Jain said he has not had a conversation with the Adani group since the transaction.

SYDNEY, March 7 (Reuters) - GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. "Rajiv Jain is visiting Australia this week to meet with investors. "It's also an opportunity to respond to any questions they have about the business including the Adani investment." It purchased the stock from the Adani family trust, according to the Indian firm's filings.

☆ India's Adani Group pre-pays over $900 million worth share-backed financing
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 7 (Reuters) - Embattled Indian conglomerate Adani Group said it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as it looks to allay fears over leverage and debt since a U.S. short seller's critical report sparked a stock rout. Promoters of the group's flagship firm, Adani Enterprises (ADEL.NS), will release 31 million shares, or a 4% stake, while Adani Ports' (APSE.NS) promoters will release 155 million shares, or an 11.8% stake, the group said in a statement on Tuesday. Promoters of Adani Green Energy (ADNA.NS) and Adani Transmission (ADAI.NS) will release 1.2% and 4.5% stakes in the respective companies. With Tuesday's repayment, the group has so far repaid around $2.02 billion of share-backed financing, it said. GQG's founder Rajiv Jain will meet clients and investors in Australia this week to explain its investment in the Adani group, the company said in a separate statement on Tuesday.

☆ Embattled Adani Group receives a vote of confidence from U.S. asset manager
▼ + stars: | 2023-03-06 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. Indranil Mukherjee | AFP | Getty ImagesIndia's embattled industrialist Gautam Adani received a much-needed vote of confidence from a well-respected U.S. asset manager ahead of a crucial bond roadshow that's underway. "Controversy is part of how you get better returns," Jain told CNBC in an exclusive interview. Jain's investment follows a massive decline in Adani's stock price amid criticism of the Indian firm's practices. Shares of Adani Enterprises and Adani Ports are up 66% and 23% over the past seven days, respectively.

☆ GQG Partners' CIO Rajiv Jain on his Adani Group investment thesis
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGQG Partners' CIO Rajiv Jain on his Adani Group investment thesisSeema Mody speaks to GQG Partners CIO Rajiv Jain, who is betting on the embattled Indian industrialist Gautam Adani with a $1.9B investment.

SYDNEY/BENGALURU, March 3 (Reuters) - Adani shares surged on Friday after a $1.87 billion investment in the group by GQG Partners Inc eased concerns about the group's ability to attract funding, while the conglomerate lined up more road shows to shore up investor confidence. Adani Group will hold road shows this month in London, Dubai and several cities in the United States, according to a document seen by Reuters. Overall, Adani group firms' net debt totalled $24.1 billion as of September 2022. Adani Green Energy and Adani Transmission jumped 5% each. Dollar bonds issued by Adani entities also rallied, with Adani Green Energy's 2024 bond adding 2.3 cents on the dollar to trade at 85.5 cents, while most bonds issued by Adani Ports and Special Economic Zone, Adani Transmission and Adani Electricity Mumbai rose by more than 1 cent.

☆ Adani contrarian is a win for Hindenburg, too
▼ + stars: | 2023-03-03 | by ( Una Galani | ) www.reuters.com time to read: +6 min

GQG Partners is snapping up shares in four of the Indian tycoon’s nine core companies, including the flagship Adani Enterprises (ADEL.NS), along with Adani Green Energy (ADNA.NS), Adani Ports and Special Economic Zone (APSE.NS) and Adani Transmission (ADAI.NS). The mogul was trying to do just that last month with a $2.5 billion Adani Enterprise share sale before it was scuppered by Hindenburg’s sortie. Barring something truly exceptional, the scars of Hindenburg’s successful attack on Adani will linger for a while. GQG bought shares in Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission and Adani Enterprises from entities owned by the Adani family. Adani has dismissed the allegations outlined in U.S. fund Hindenburg Research’s Jan. 24 report.

☆ Adani shares soar as US investor steps in
▼ + stars: | 2023-03-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in some of Indian billionaire Gautam Adani’s companies soared Friday after a US private equity firm agreed to invest nearly $1.9 billion in his embattled conglomerate. The Adani Group said Thursday that GQG Partners had bought $1.87 billion of stock in secondary market trades across four of its companies. Shares of the group’s flagship company, Adani Enterprises, soared nearly 17% following the announcement. Shares of Adani Ports rose almost 10%, while Adani Green Energy and Adani Transmission both gained 5%. And Australia-listed GQG Partners, which manages more than $92 billion in assets, doesn’t appear to share the concerns of other investors.

BENGALURU, March 2 (Reuters) - U.S. boutique investment firm GQG Partners has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. U.S-based, Australia-listed GQG has, through block deals, bought shares worth 154.46 billion rupees in four Adani group companies, including the conglomerate's flagship firm Adani Enterprises (ADEL.NS), a regulatory filing showed. GQG took a 3.4% stake in Adani Enterprises for about $662 million, 4.1% in Adani Ports for $640 million, 2.5% in Adani Transmission for $230 million, and a 3.5% stake in Adani Green Energy for $340 million. "This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies," said Adani Group CFO Jugeshinder Singh. In the run-up to the announcement, Adani group shares rallied, with Adani Enterprises climbing nearly 35% over the last three sessions, Adani Ports 11% and Adani Green Energy 16%.

☆ World Bank board aims to pick next president by early May, U.S. nominee expected soon
▼ + stars: | 2023-02-23 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/2] A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. The bank's executive directors affirmed their commitment to an "open, merit-based and transparent selection process" for the new leader, and said countries could nominate candidates beginning Thursday through March 29. The World Bank board gave a list of criteria and relevant experience for would-be applicants, including "effective communication and diplomatic skills" and also said it "would strongly encourage women candidates to be nominated." The bank has never had a permanent woman president in its 77-year history, although current International Monetary Fund chief Kristalina Georgieva served as acting president for about two months in early 2019. The United States has historically selected the president of the bank, but some developing countries and civil society groups are challenging that tradition.

☆ A 'Mean Girls' star described the career setback that made him feel like "someone had died," and the au pair job he took after playing Kevin G
▼ + stars: | 2023-02-20 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +4 min

Rajiv Surendra played hilariously memorable character Kevin G in "Mean Girls." He said that after 'Mean Girls,' he had a career rejection that altered the course of his life. "I worked really really hard to try to get this part. The "Mean Girls" star recognized how strange the choice seemed from the outside, looking in. "Even when we were filming 'Mean Girls,'" he said, "they called me Martha Stewart because they knew I did pottery and knitted and everything."

[1/5] David Malpass, president of the World Bank Group, arrives for a meeting with Japan's Prime Minister Fumio Kishida (not in picture) at Kishida's official residence in Tokyo, Japan September 13, 2022. REUTERS/Issei Kato/PoolWASHINGTON, Feb 15 (Reuters) - David Malpass, president of the World Bank, unexpectedly said he would resign in June on Wednesday, leaving open a job that oversees billions of dollars of funding and has a direct impact on poverty, climate change preparation, emergency aid and other issues in developing countries around the globe. RAJIV SHAShah is the former USAID administrator under Obama and currently president of the Rockefeller Foundation, a philanthropic group that says it aims to "promote the well-being of humanity throughout the world." The foundation recently partnered with the U.S. State Department on a carbon offset program at COP27, the international climate conference. MINOUCHE SHAFIKShafik is an Egypt-born, British American economist who is currently president of the London School of Economics and has served as deputy governor of the Bank of England and deputy managing director of the IMF.

☆ Indian startups raised a record $49 billion in 2021. Here's 5 reasons why the region is set to become the next tech powerhouse, according to investors.
▼ + stars: | 2022-12-22 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

India's startup ecosystem is one of the world's largest, trailing behind Europe and the US. Startups in the region landed a record $49 billion in 2021, according to Dealroom data. It was a major milestone for the country's tech ecosystem — and one that highlighted the momentum the region has gained over the past six years. India's tech ecosystem has long been in the shadow of its more established counterparts like China, Europe, and the US. But 2021 was a pivotal year for India's startup ecosystem.

☆ Southeast Asian markets are in for a 'bungee jump' in 2023, says JPMorgan
▼ + stars: | 2022-12-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

JPMorgan analysts expect Southeast Asian markets to experience a "sharp fall followed by a rapid increase in altitude (bear market rally) followed by another decline until eventually markets come to rest at rock-bottom" in 2023. Southeast Asia's markets will move in a way similar to that of a "bungee jump" in 2023, plunging before surging in the second half of the year, according to JPMorgan analysts. They attributed that to weakened purchasing power in light of monetary policy tightening, lower savings and the higher cost of borrowing. The MSCI ASEAN Index fell 22% from February's high to the year's lowest in October. The index subsequently rebounded 10%, buoyed by hopes of China reopening and a pivot from the U.S. Federal Reserve.

☆ Explainer: India G20 presidency 2023: what does it mean and what can we expect
▼ + stars: | 2022-12-02 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +4 min

During and after the 2008 global financial crisis, the G20's coordinated efforts helped tamp down panic and restore economic growth. WHAT DOES G20 PRESIDENCY ENTAIL? After India, Brazil will take over the presidency of the G20, followed by South Africa in 2025. WHAT DOES THE G20 MEAN FOR INDIA AND MODI? "The country has not invested much in multilateral rule-making institutions like the G20, but it is never too late to start."

Workers at Google and other big tech companies in recent years have clashed and protested over politics and racial and gender equity. "We've always been proud to host external speakers at Google, as they provide great opportunities for learning and connection for our employees," Google spokesman Ryan Lamont told Reuters. Rivals such as Meta Platforms Inc (META.O) also have policies for inviting speakers. At Google, speakers have included then-U.S. presidential candidate Barack Obama, celebrity chef Ayesha Curry and former basketball star Kareem Abdul-Jabbar. At least one of the critics suggested inviting for balance Rajiv Malhotra, according to an internal message.

☆ Meta Platforms appoints Sandhya Devanathan as India head
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Nov 17 (Reuters) - Meta Platforms (META.O) appointed Sandhya Devanathan as its India head on Thursday, days after Ajit Mohan quit to join rival Snap Inc (SNAP.N). WhatsApp's India head Abhijit Bose and Meta Platforms's public policy director in India Rajiv Aggarwal also resigned earlier this week. The company has for years faced criticism for doing little to curb the spread of fake news and hate speech in India. Devanathan has been with Meta since 2016 and will move into her new role in January. Reporting by Tanvi Mehta; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Facebook Parent Meta Sees Executive Exodus in India
▼ + stars: | 2022-11-16 | by ( Newley Purnell | ) www.wsj.com time to read: 1 min

Three of Meta Platforms Inc.’s top executives in India have departed the company in recent weeks, with the Facebook parent changing the country’s reporting structure amid its first broad global restructuring, according to people familiar with the matter. The India head of Meta’s WhatsApp messaging service, Abhijit Bose , and Meta’s India public policy director, Rajiv Aggarwal, have resigned, a Meta spokeswoman said Wednesday. Their exits follow the departure announced earlier this month of Meta’s India head, Ajit Mohan .

☆ Meta's India public policy chief, WhatsApp's India boss quit
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Nov 15 (Reuters) - WhatsApp's India head Abhijit Bose and Meta Platforms Inc's (META.O) public policy director in India Rajiv Aggarwal have resigned, a Meta spokesperson said on Tuesday. The departures follow the exit of Meta's India head Ajit Mohan, who quit this month after four years in the job to join rival Snap Inc (SNAP.N). A Meta spokesperson said both of the exits were unrelated to the current layoffs. Meta has appointed Shivnath Thukral as its new director for public policy in India and the company will look for a replacement for Bose, the spokesperson said. Couple of months back, the head of WhatsApp's India payment business, Manesh Mahatme, also quit to join Amazon India.

Search resuls for: "Rajiv"

25 mentions found