MEXICO CITY — Mexico’s energy regulator fined a unit of Spain’s Iberdrola 9.15 billion pesos ($466.4 million), arguing they violated a so-called self-supply power generation permit by selling electricity to their partners, according to a regulatory filing. Read More
Robinhood Markets Inc has agreed in principle to settle a proposed class action filed by customers in the United States who claimed the investment app’s outages in March 2020 shut them out of trading on pandemic-related volatility. Read More
NEW YORK — Global markets enjoyed a broad-based rally on Friday, while the yield on benchmark U.S. Treasuries fell after data showed that U.S. consumer spending rose in April and the uptick in inflation slowed, two signs the world’s largest economy could be on track to grow this quarter. Read More
By Mandar Kagade The Reserve Bank of India (RBI) issued a draft regulatory framework for Online Export Import Facilitators (OEIF) recently. The framework concerns payment intermediaries (Online Payment Gateway Service Providers, or OPGSPs, in the earlier iteration of regulatory vocabulary) that work with Authorized Dealer banks under the Foreign Exchange Management Act to facilitate inward […]
The southwest monsoon is likely to hit the Kerala coast in two to three days marking the start of the three-month season of rainfall across the subcontinent, the India Meteorological Department (IMD) forecast on Friday. “There is an increase in cloudiness over Kerala coast and adjoining southeast Arabian Sea. Hence, conditions are becoming favourable for […]
JSW Steel’s consolidated net profit declined over 20% on a year-on-year basis to Rs 3,343 crore, missing the Street’s estimates of Rs 4,558.20 crore for the quarter ended March 31, 2022, due to an exceptional item of Rs 741 crore primarily towards impairment in its US subsidiary. “A subsidiary in USA received a final arbitration […]
Even as the foreign portfolio investors stayed away from the secondary markets during FY22, they maintained their investment interest in primary market during the November-December period when big-ticket initial public offerings (IPOs) hit the capital markets, said the RBI annual report. Overseas investors, who have been offloading Indian shares at a record pace, remained net […]
India’s non-alcoholic beverages market is expected to grow to Rs 1.47 trillion by 2030 at a compound annual growth rate (CAGR) of 8.7%, from around Rs 67,100 crore in 2019, the Indian Council for Research on International Economic Relations (Icrier) said in a detailed analysis. Carbonated soft drinks (CSDs), ready-to-drink teas (RTDs), energy drinks, and […]