Thursday, September 10
For the past three years, Elon Musk has steadily elbowed his way into the booming market for in-flight Wi-Fi, with his Starlink service signing up blue-chip carriers from Air France to Qatar Airways to United Airlines.Alaska Air Group Inc. said on Wednesday it will install Starlink starting next year and Virgin Atlantic in early July reached a deal to use the SpaceX-owned satellite network. Arch-rival British Airways might be not far behind, according to people familiar with the matter, in a deal that would let Musk lock up another flagship airline on the lucrative trans-Atlantic route.But Musk has his eyes on an even bigger prize: the Middle East, home to some of the most trend-setting airlines in the industry and a global connecting hub for long-haul travel.SpaceX has been in conversatio
India's private sector activity expanded at the fastest pace on record in August, powered by a historic surge in demand led by the dominant services sector, which allowed firms to hike prices at the fastest clip in over 12 years, a survey showed on Thursday. The explosive growth paints the picture of a booming economy and the accompanying surge in price pressures is likely to compel the Reserve Bank of India (RBI) to keep its policy restrictive for longer. HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rocketed to 65.2 in August from 61.1 last month and far outpacing a Reuters poll median forecast of 60.5. This reading marked the highest level since the survey began in December 2005 and remained above the 50-mark that separates growth from contra
Markets regulator Sebi has proposed a new accredited investors-only alternative investment fund (AIF) regime with lesser compliance rules, a move aimed at enabling sophisticated investors to back higher-risk ventures more efficiently, its senior official said on Thursday. Separately, Sebi is also working on an FPI (Foreign Portfolio Investors) portal, a one-stop shop that will provide clear information for existing and new foreign investors on ways to access Indian markets, its Whole Time Member Ananth Narayan G said at FICCI CAPAM 2025 event here.On Accredited Investors (AIs), he said that globally, such investors are identified as experienced and capable of handling risk, so they are given fewer regulatory protections. To qualify, investors must show they can manage risk and are willing
Norway-based Norges Bank bought over 14.62 lakh shares worth Rs 158 crore in Clean Science and Technology via block deal on Thursday. Nippon India Mutual Fund, SBI Mutual Fund and Bajaj Allianz Life Insurance Company were also buyers in the bulk deals where promoters Asha Ashok Boob and Ashok Ramnarayan Boob together sold over 1.9 crore shares.Norges Bank on Account of The Government Pension Fund Global bought these shares at a price of Rs 1,077.68 apiece, which is a near 9% discount over the Wednesday closing price of Rs 1,180.80 on the NSE.Nippon India MF which lapped 31.15 lakh shares at Rs 1,075.20 per share, was the largest buyer at Rs 335 crore. Meanwhile, SBI MF took 27.52 lakh shares for Rs 296 crore. Bajaj Allianz bought 8lakh shares, spending Rs 86 crore. The Clean Science share
