Wednesday, September 30
Vodafone Idea (Vi) on Tuesday said that it had not received any communication from the government about considering relief on Rs 84,000 crores. This comes after a few reports said that the shares of the company rallied up 7 per cent after the government's decision. The company added that it would share the details As and when there is any development with respect to the matter. Media reports had claimed that the Centre, already the biggest equity owner in Vodafone Idea (Vi) through conversion of earlier receivables into stock, is weighing multiple options to provide the telco further relief on outstanding regulatory dues of Rs 84,000 crore over concerns that the telecom operator would flounder without executive latitude.Vi has outstanding AGR dues to the tune of Rs 83,400 crore as of March
London-based Vedanta Resources Limited (VRL), the parent firm of Mumbai-listed mining conglomerate Vedanta Ltd, has secured a term loan facility of up to USD 600 million that will be used to refinance a high-cost private credit facility, according to a communication sent to bondholders. The first tranche of USD 380 million has been committed, with the remaining USD 220 million expected to be finalised shortly with other participating banks. Lenders for the USD 380 million facility comprise a consortium of Gulf, Japanese, and European banks, including First Abu Dhabi Bank, Mashreq, Sumitomo Mitsui Banking Corp, and Standard Chartered. "The facility carries a door-to-door tenor of over four years, with an average maturity of approximately three years and a pricing of SOFR (Secured Overnight
U.S. President Donald Trump has railed often against the Federal Reserve and central bank Chair Jerome Powell for not lowering interest rates, but his options are limited for replacing Fed leadership with officials aligned with his wishes. First, a recent Supreme Court opinion appears to bolster a longstanding interpretation that Powell and Fed governors are protected from efforts to fire them for policy differences. Second, barring unexpected resignations, Trump may have the chance to nominate just two Board of Governors members during his term. While there's been chatter about Trump making an early nomination for a successor to Powell, whose term as chair ends in May 2026, the next board vacancy will not occur until January, when Governor Adriana Kugler's term expires. Should Powell leav
