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News on Medial
Vedanta’s demerger plans may face hurdles from shareholders: Credit Sights report
Livemint
·
1y ago
Medial
Credit Sights, a Fitch Solutions Company, has warned that Vedanta Ltd's planned demerger of its businesses may face obstacles from minority shareholders and creditors. The demerger announcement was made in September 2023, but there have been few updates on its progress since then. Credit Sights believes the demerger could complicate Vedanta Resources Ltd's corporate structure and may not significantly address its debt obligations. It also highlighted potential challenges for Hindustan Zinc Ltd in obtaining the required shareholders' approval for the proposed demerger.
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Hamas' cash-to-crypto global finance maze in Israel's sights
Economic Times
·
1y ago
Medial
Experts and officials reveal that Palestinian militant group Hamas utilizes a global financing network to receive support from charities and sympathetic nations, employing tactics such as passing cash through Gaza tunnels or using cryptocurrencies to evade international sanctions. However, Hamas is expected to face increased hurdles in accessing funds following the recent violence between the group and Israel. Israeli authorities have frozen a Barclays bank account linked to Hamas fundraising and blocked cryptocurrency accounts used for donations. Despite these restrictions, Hamas has proven adept at utilizing cryptocurrencies for financing, although recent losses have prompted a shift away from this method.
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Musk's Tesla, Starlink entry to India be boosted by Trump: Report
Inshorts
·
9m ago
Medial
Elon Musk's plans about Tesla and Starlink's entry into India may get a boost with newly-elected US President Donald Trump's support, a report said. Trump's influence could ease the regulatory hurdles that the world's richest man faces in India, the report added. Notably, Musk has actively endorsed Trump in the elections.
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Vedanta gets approval from 75% of its secured creditors to proceed with demerger
Money Control
·
1y ago
Medial
Mining conglomerate Vedanta has received approval from 75% of its secured creditors for its proposed demerger plan. This marks a significant milestone in Vedanta's plan to split into six independent listed companies. The next step for Vedanta is to seek clearance from stock exchanges and file the demerger plan with the National Company Law Tribunal. The demerger will create independent companies for various businesses, with shareholders receiving shares in these new entities. Vedanta's recent progress in deleveraging includes raising Rs 8,500 crore through a Qualified Institutional Placement.
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Paytm eyes India-scale AI system; fintech investing to build new software stack
Livemint
·
1y ago
Medial
Paytm's parent company, One97 Communications, is investing in artificial intelligence (AI) to develop an artificial general intelligence software stack. In its annual report, the company emphasized its AI ambitions and CEO Vijay Shekhar Sharma's letter to shareholders highlighted their pioneering role in Indian mobile payments and plans for small mobile credit with high credit quality. Paytm's Q1FY24 results showed a narrowed net loss of ₹357 crore YoY, with 39.4% growth in revenue to ₹2,341 crore and a 167% YoY growth in its credit distribution business.
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UK's Deliveroo suspends share buyback after DoorDash buyout offer
Economic Times
·
3m ago
Medial
Deliveroo has paused its £100 million share buyback program following a £2.7 billion takeover proposal from DoorDash. Deliveroo plans to recommend the 180 pence-per-share offer to its shareholders, provided other terms are agreed upon. The deal, which expands DoorDash's market reach without regulatory hurdles, contrasts with potential antitrust issues for other competitors. Deliveroo will announce any resumption of the buyback program to the market.
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GST's identity crisis: One nation, multiple headaches - The Economic Times
Economic Times
·
14d ago
Medial
Eight years after the launch of GST in India, its promise of “One Nation, One Tax” remains unfulfilled as complexities and compliance burdens persist. Multiple tax rates and exemptions have created confusion, leading to increased litigation and compliance costs. Businesses face considerable hurdles, from unclear tax classifications to retrospective demands. While policymakers may soon implement reforms, such as rate rationalization, businesses are frustrated by ongoing complexities and await simplification measures to ease operational challenges.
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ABRFL board approves demerger of Madura to Aditya Birla Lifestyle Brands
Livemint
·
1y ago
Medial
The board of directors of Aditya Birla Fashion and Retail Ltd (ABFRL) has approved the demerger of Madura Fashion & Lifestyle (MFL) business from ABFRL into a newly incorporated company named Aditya Birla Lifestyle Brands Ltd (ABLBL), which will be listed separately once the demerger is completed. This move aims to accelerate growth and value creation through two listed entities with a clear structure and capital allocation strategy. ABFRL plans to raise ₹2,500 crore in equity within 12 months of the demerger. The demerger will be implemented through an NCLT scheme of arrangement.
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African startups seek an 'angel' amid myriad funding challenges
Economic Times
·
2y ago
Medial
Startups in Africa face myriad hurdles, from laws and regulations and lack of infrastructure to a fragmented continental market. But funding, in a continent that lacks intrepid individual investors to provide support, is a persistent and major headache.
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Tata Motors working with govt, looking alternate sources for magnets: Chandrasekaran
Economic Times
·
1m ago
Medial
Tata Motors is collaborating with the government to find alternative sources for magnets due to China limiting exports of rare earth elements. Chairman N Chandrasekaran addressed concerns, assuring shareholders that current supplies are adequate and contingency plans are in place. Additionally, Tata Motors is preparing for possible geopolitical tensions and planning an international expansion for its passenger vehicles under favorable geopolitical conditions. The demerger of commercial and passenger vehicle sectors is expected by year's end.
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Financial credit a challenge for almost half of women entrepreneurs in MSMEs: report
Economic Times
·
1y ago
Medial
A recent report by Tide India revealed that almost half of women entrepreneurs in India's micro, small, and medium enterprises (MSMEs) face challenges in accessing financial credit. The report found that 95% of women lacked awareness of government schemes that could assist their businesses, resulting in them seeking credit through informal channels. Additionally, while 63% of women have access to mentorship, the majority rely on friends or family rather than formal programs. The report highlights the need for improved access to funding, mentors, and digital tools to support women-led businesses and promote economic growth.
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