Thursday, August 13
Karachi: At least 26 people have been confirmed dead and up to 81 others are reported missing after a massive fire tore through Gul Plaza on Karachi's MA Jinnah Road in Pakistan, leaving the multi-storey commercial building structurally unstable and unsafe for general access, ARY News reported. Authorities said the blaze, which broke out around 10:00 p.m. on January 17, was brought under control after nearly 34 hours. However, rescue and recovery operations are still underway amid fears of further collapse. Search teams, supported by the Army, Rangers and civil administration, are carrying out a cautious operation while engineers assess the damaged structure.DIG South confirmed that 26 bodies have so far been recovered from the site. Six victims have been identified, while the remaining bo
Adani Power is looking to raise about Rs 7,500 crore from institutional investors through the issuance of non-convertible debentures (NCD), people familiar with the matter told ET.The thermal power giant is tapping the bond market at a time when investor demand for corporate bonds is strong. The fundraising is expected to be launched over the next three to four days and will have tenors of 2,3,4 and 5 years, the people said. Axis Bank, ICICI Bank and Trust Group are acting as arrangers. Proceeds are likely to be used for refinancing existing borrowings and general corporate purposes.The lead arrangers and the company didn’t respond to Et’s requests for comment on the fundraising. Adani Power is the holding company for the Adani Group’s coal-fired thermal assets and operates 18.14 gig
