Friday, September 11
New Delhi: Prime Minister Narendra Modi on Monday huddled with top ministers, his senior economic advisors and other key officials to deliberate on a road map to fast track "next-generation" reforms."We are committed to speedy reforms across all sectors, which will boost Ease of Living, Ease of Doing Business and prosperity," Modi wrote in a post on microblogging site X.The crucial meeting follows his Independence Day pledges to usher in reforms and signals the urgency with which the government intends to counter the impact of persistent global headwinds-including a 50% tariff imposed by the US on most Indian goods-by pulling all domestic growth levers.It also comes days after S&P upgraded its long-term sovereign credit rating on India to 'BBB' from the lowest investment grade of 'BBB-
Russia does not consider the deployment of NATO troops in Ukraine a viable solution to the conflict, and views recent statements from the UK on the matter as provocative, the Russian Foreign Ministry said. "At a time when there is a genuine push for a comprehensive, fair, and lasting resolution to the conflict around Ukraine, including addressing its root causes, statements continue to emerge from London that not only contradict the efforts of Moscow and Washington, but also appear aimed at undermining them," the ministry said.
White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and has to stop, while adding that New Delhi was "now cozying up to both Russia and China." "If India wants to be treated as a strategic partner of the US, it needs to start acting like one," Navarro wrote in an opinion piece published in the Financial Times, adding that it was risky for American companies to transfer cutting-edge military capabilities to India.
Gem Aromatics, a manufacturer of speciality ingredients, on Monday mobilised over Rs 135 crore from anchor investors, ahead of its initial public offering (IPO) opening for subscription. Some of the institutions that participated in the anchor round includes Citigroup Global, Societe Generale, Goldman Sachs, Nippon India Mutual Fund, SageOne, Nuvama, and Niveshaay Sambhav Fund, according to a circular uploaded on BSE's website. As per the circular, the company has allocated 41,65,383 equity shares at Rs 325 per piece to anchor investors, aggregating the transaction size to Rs 135.37 crore. The Rs 451-crore IPO would open for subscription on August 19 and conclude on August 21. The price band has been set at Rs 309 to Rs 325 per share. The IPO is a mix of fresh issue of equity shares worth
