Alibaba’s IPO Priced at $68 a Share
Alibaba Group Holding Ltd. ‘s shares priced Thursday at $68 apiece, putting the Chinese company on track for an initial public offering that will raise at least $21.8 billion. The price was at the top of the company’s expected range of $66 to $68, which was increased from an initial $60... read more »
China hands drugmaker GSK record $489 mln fine, sentences executives
China has fined GlaxoSmithKline Plc a record 3 billion yuan ($488.8 million) for paying bribes to doctors to use its drugs, the British company said on Friday, drawing to a close a corruption probe that rocked the pharmaceutical sector in China. A court in the city of Changsha also sentenced... read more »
Gold tumbles, dips to over 3-month low on global cues
Gold prices tumbled by Rs. 440 to hit over three-month low of Rs. 27,010 per ten gram in the national capital today on heavy selling by stockists, triggered by a weakening global trend. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices. Silver also fell for... read more »
ONGC made Rs 81,890 crore investment to raise output
Country’s largest oil and gas producer ONGC on Friday said it has invested Rs 81,890 crore in bringing on stream newer discoveries and arrest natural decline that has set in its ageing fields. “Our major oil and gas producing fields are ageing and showing natural decline,” ONGC... read more »
Sania Mirza-Bruno Soares clinch U.S. Open mixed doubles title
Sania Mirza clinched her third mixed doubles Grand Slam crown as she and partner Bruno Soares overcame a few anxious moments in the match tie-break to win the US Open here on Friday. The... read more »
Japan seeks exemption from MAT for its cos in India
Japan has asked India to “at once” exempt Japanese manufacturers operating in India from withholding and Minimum Alternate Tax (MAT). Minister, Embassy of Japan, Isomata Akio, on... read more »
CCI pentalty: impact on OEMs may not be indicative
The quantum of penalty imposed on 14 passenger vehicle (PV) firms in the country by Competition Commission of India (CCI) is unlikely to have a significant credit implication on most of the... read more »
Adani to begin coal mine development in Australia
The Australian government in July had cleared the proposed $15 b Carmichael coal mine project of Adani Mining Keen on expanding business, Australian Prime Minister Tony Abott on Friday... read more »
Wilful defaulter tag a ‘powerful weapon’ for creditors
Reserve Bank of India Governor Raghuram Rajan has said the wilful defaulter tag is a powerful weapon in the hands of banks for resolving bad loans. His comments came days after United Bank of India... read more »
