Business Asset – India Business http://indiabusiness.info/ Sat, 09 Oct 2021 03:36:11 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://indiabusiness.info/wp-content/uploads/2021/06/icon-5-150x150.png Business Asset – India Business http://indiabusiness.info/ 32 32 Support for Liquid Assets Comes to Bitfinex Pay Merchant Payment Software | New https://indiabusiness.info/support-for-liquid-assets-comes-to-bitfinex-pay-merchant-payment-software-new/ https://indiabusiness.info/support-for-liquid-assets-comes-to-bitfinex-pay-merchant-payment-software-new/#respond Sat, 09 Oct 2021 01:15:00 +0000 https://indiabusiness.info/support-for-liquid-assets-comes-to-bitfinex-pay-merchant-payment-software-new/ VICTORIA, British Columbia, October 8, 2021 / PRNewswire-PRWeb / – The Liquid Network, the world’s leading Bitcoin side chain developed by infrastructure company Bitcoin Blockstream, is now supported by merchant payment technology Bitfinex Pay. The technology, built by the world-class cryptocurrency exchange Bitfinex, now allows merchants to receive contactless, borderless payments from Liquid Bitcoin (L-BTC) […]]]>

VICTORIA, British Columbia, October 8, 2021 / PRNewswire-PRWeb / – The Liquid Network, the world’s leading Bitcoin side chain developed by infrastructure company Bitcoin Blockstream, is now supported by merchant payment technology Bitfinex Pay. The technology, built by the world-class cryptocurrency exchange Bitfinex, now allows merchants to receive contactless, borderless payments from Liquid Bitcoin (L-BTC) and USDt on Liquid (USDt).

Liquid Bitcoin and USDt on Liquid are assets on the Liquid Network verifiably backed with Bitcoin (BTC) and Tether (USDt) tokens respectively, and use innovative Liquid Network technology such as final settlement in two minutes and one strong confidentiality through the use of zero-knowledge evidence. Using Liquid’s technology allows traders to quickly accept L-BTC and USDt for payments.

“Bitfinex Pay empowers merchants around the world who may not have access to traditional payment systems,” said Samson Mow, CSO of Blockstream. “Liquid Network’s combination of confidential transactions and fast settlement, with the seamless payment experience of Bitfinex Pay, is a game-changer. “

“Bitfinex Pay is revolutionizing digital payments and I expect a rapid adoption of Liquid Bitcoin and USDt on Liquid among our growing user base,” said Paul Ardoino, CTO at Bitfinex Pay. “Tech-savvy Bitfinex Pay customers will appreciate having access to these digital assets as we continually improve our user experience. “

The process of setting up Bitfinex Pay is straightforward and its integration with Liquid Network provides the following benefits for merchants:

The ability to conduct business transparently without delay

Cryptographically ensures that sensitive customer financial data remains confidential

Payments made to a Bitfinex Pay compatible merchant are directly deposited into the merchant’s Bitfinex exchange wallet

Customers benefit from a fast payment process thanks to the combination of Bitfinex Pay and its Liquid Network integration. The payment process simply involves clicking on the Bitfinex Pay widget, which then directs the customer to the Bitfinex payment gateway where they can complete the purchase.

About Blockstream

Blockstream is the world leader in Bitcoin and blockchain infrastructure. Blockstream’s (Liquid Network) sidechain technology enables faster Bitcoin settlements while allowing financial institutions to tokenize assets. Blockstream Mining provides enterprise-class mining facilities for co-location of Bitcoin mining operations. The cryptocurrency data feed, developed in partnership with Intercontinental Exchange, provides the best real-time and historical exchange data. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members located around the world.

About the Liquid Network

The Liquid Network is a side-chain-based settlement network for traders and exchanges, enabling faster and more confidential Bitcoin transactions and the issuance of digital assets. The Liquid Network is operated and managed by its federated members, ensuring that the system has no single point of failure. Find out how to access the future of digital asset finance at liquid.net.

About Bitfinex Pay

BFX Pay Limited is a provider of digital token payment technology. Its solution, Bitfinex Pay, provides a way for online merchants to receive contactless and borderless digital token payments. The Bitfinex Pay widget can be integrated into a website. Bitfinex Pay users can pay with Ethereum (ETH), bitcoin (BTC), Lightning Network BTC (LN-BTC), and Tether tokens (USDt) via Ethereum or Tron. Payments made through Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex.

Media contact

Fernando nikolic, Blockstream, +1 (236) 987-8977, press@blockstream.com

Twitter

SOURCE Blockstream



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Stocks rise again as lower energy prices ease stagflation fears https://indiabusiness.info/stocks-rise-again-as-lower-energy-prices-ease-stagflation-fears/ https://indiabusiness.info/stocks-rise-again-as-lower-energy-prices-ease-stagflation-fears/#respond Thu, 07 Oct 2021 12:35:00 +0000 https://indiabusiness.info/stocks-rise-again-as-lower-energy-prices-ease-stagflation-fears/ European and Asian equities rally as energy costs fall Dollar and US benchmark yields pause near recent highs Germany sees shock drop by 4% in industrial production Hope the US can resolve the debt ceiling feud Key US employment data due on Friday LONDON, Oct. 7 (Reuters) – Global stock markets stepped back on gas […]]]>
  • European and Asian equities rally as energy costs fall
  • Dollar and US benchmark yields pause near recent highs
  • Germany sees shock drop by 4% in industrial production
  • Hope the US can resolve the debt ceiling feud
  • Key US employment data due on Friday

LONDON, Oct. 7 (Reuters) – Global stock markets stepped back on gas on Thursday as hopes grew that Washington could resolve its debt ceiling feuds and a global drop in energy prices eased growing fears of “stagflation”.

European stock markets hit 2.5-month lows and Wall Street futures were trending higher as lower oil and gas prices offered relief after a sharp 4% drop in German industrial production , which highlighted the toxic risk of “stagflation” of runaway inflation and moribund growth. Read more

The pan-European STOXX 600 index (.STOXX) rose 1.25% in large-scale buying to reverse weekly losses, miners (.SXPP), utilities (.SX6P) and automakers (.SXAP) ) all being on the rise.

Borrowing costs in the bond market also calmed down after a sharp rise the previous day, which brought benchmark government yields in the region to their highest level since June.

“We believe the recent pullback (in global equities) is an opportunity to buy the decline in cyclical assets – which would include all stocks (EM and DM),” analysts at JPMorgan said, although US tech stocks remain ultra-expensive.

“We don’t think the current price of energy will have a significant negative impact on the economy … Even with oil at $ 130 or $ 150, the stock markets and the economy could perform well,” indicating 2010- 15 when oil averaged over $ 100 a barrel and the markets performed very well.

Oil fell nearly 1.5% and gas prices fell nearly 4%, helping European gas futures retreat from record highs.

Gas prices have more than quintupled since the start of the year, and the huge increase in recent weeks has caught the attention of policymakers around the world.

EU Energy Commissioner Kadri Simson said on Wednesday that the price shock “was hurting our citizens, especially the most vulnerable households” and that “there is no doubt that we need to take political action” .

Britain’s National Grid said the UK faced tight electricity supplies this winter, while local media reported Spain’s Energy Minister summoned top executives from its three main electricity companies . Read more

BACK TO THE FUTURE

U.S. futures also rebounded, with S&P 500 futures rising 0.9% after wild swings on Wednesday fueled by hopes Democrats and Republicans in Congress could reach a deal to avoid a default of public debt.

U.S. Senate Republican Mitch McConnell has said his party will support an extension of the federal debt ceiling until December.

“This means President Biden and the Congressional Democrats would be able to complete their budget spending program – now estimated at around $ 1.9 to $ 2.2 trillion,” Deutsche Bank strategist Jim Reid said. .

The largest MSCI Asia-Pacific stock index outside of Japan (.MIAPJ0000PUS) closed up 1.8% overnight, its largest single-day gain since August.

Hong Kong (.HSI) led Asia’s gains with a 3% rebound from a year-low. South Korea’s Kospi (.KS11) gained 1.8% and Japan’s Nikkei (.N225) strengthened 0.5% to post eight days of losses.

However, Chinese real estate debt markets were still bleeding profusely, with those of the Kaisa Group – China’s leading real estate company by default in 2015 – collapsing as much as 8.2% and some of Greenland Holdings, which built some of the world’s tallest residential towers, falling to half of their face value.

Charts showing the net debt and market capitalization of China’s most indebted real estate companies

Global markets will then focus on US payroll data due on Friday, with investors predicting that a reasonable figure will mean the Federal Reserve will decide at its November meeting to start scaling back its massive stimulus package.

The dollar was stable, not too far from the 12-month highs reached last month against a basket of currencies and holding a 14-month high against the euro.

The benchmark 10-year US Treasury yield was 1.53%, down from a 3.57-month high of 1.57% on Wednesday. German Bunds hovered around a still negative rate of -0.19%, showing little reaction to the European Central Bank meeting minutes revealing that it had debated a larger cut in its purchases assets last month.

“The argument has been made that the markets already expected the end of net asset purchases under the PEPP by March 2022,” the accounts said. “It was stressed that, even without the PEPP, the overall stance of monetary policy remains very accommodative.”

Additional reporting by Alun John in Hong Kong; Editing by Hugh Lawson and Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.


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People are on the move: GLP appoints Europe Asset Management as head of ESG | New https://indiabusiness.info/people-are-on-the-move-glp-appoints-europe-asset-management-as-head-of-esg-new/ https://indiabusiness.info/people-are-on-the-move-glp-appoints-europe-asset-management-as-head-of-esg-new/#respond Wed, 06 Oct 2021 23:19:31 +0000 https://indiabusiness.info/people-are-on-the-move-glp-appoints-europe-asset-management-as-head-of-esg-new/ GLP, Crestbridge, The Bank of NT Butterfield & Son, EQT, Principal Real Estate Europe, IPFM, LaSalle, Catella Real Estate, Redos, Deutsche Logistik, La Française REM, Modulous, Deutsche Investment, Centerscape Deutschland & Co, Atrato, Global Student Accommodation GLP – The investor and developer of logistics warehouses and distribution parks has appointed Natali Cooper as portfolio manager, […]]]>

GLP, Crestbridge, The Bank of NT Butterfield & Son, EQT, Principal Real Estate Europe, IPFM, LaSalle, Catella Real Estate, Redos, Deutsche Logistik, La Française REM, Modulous, Deutsche Investment, Centerscape Deutschland & Co, Atrato, Global Student Accommodation

GLP – The investor and developer of logistics warehouses and distribution parks has appointed Natali Cooper as portfolio manager, asset management and ESG, Europe. Cooper will be responsible for the continued implementation and evolution of the strategy across the European company. In addition, Cooper will remain in charge of portfolio and asset management functions as an ongoing strategic priority for the company.

EQTMasahiko kato has been appointed responsible for the EQT infrastructure in Japan. Masahiko most recently served as Deputy Managing Director of the Private Equity and Infrastructure division of Mitsubishi Corp.

Principal Real Estate EuropeNick gunn was appointed fund manager working on the Principal European Core Fund. Gunn will work in conjunction with Giles Smith, Head of Fund Management at Principal Real Estate Europe, continuing to grow Principal’s core European strategies. Gunn is from International Property Funds Management. Previously, he worked in the Acquisitions and Disposals team of Credit Suisse Asset Management and held several other positions in real estate companies, including CBRE and Propertylink in Australia.

Global student accommodationAlec Burger was appointed non-executive chairman. Based in the United States, Burger will work closely with the GSA management team to support global growth, with a particular focus on North America, reinforcing the continued expansion of the business following entry into GSA in the US market in 2020. Burger is a former president and CEO of GE Capital. and GE Capital Immobilier. founder of GSA, Nicolas porter, will continue to be an active member of the Board of Directors to support transactions, capital and relationships with key stakeholders. Porter will work alongside Burger on GSA’s global expansion plans, develop executive leadership, and achieve strategic and performance priorities. Additionally, as part of the Board’s Strategic Review, it was agreed that the CEO Will rowson will leave the firm at the end of 2021, leaving time for a smooth transition with the management team and new appointments in the United States. A process to appoint a new CEO is underway, the GSA said.

Catella Real Estate – The Munich real estate fund manager has appointed Andreas Wesner general manager and spokesperson. Wesner joins us as Head of Transactions – Northern Continental Europe at LaSalle Investment Management. Prior to LaSalle, Wesner worked in investment management and acquisitions at AXA Investment Managers, The Carlyle Group and Merrill Lynch Management.

Atrato – The alternative management and advisory group has appointed Guillaume Gould the new role of Advocate General. Graduated from SJ Berwin, he then worked for Ashurst and Eversheds, mainly in the area of ​​real estate finance. More recently, he spent several years internally in specialized banking companies UTB and Cynergy Bank. Gould will oversee the legal function, provide comprehensive legal and business advice to Atrato, and coordinate external legal relationships for the group’s clients, including its listed Supermarket Income REIT fund.

La Française property managersArthur brizard and Benjamin Fanget have both been promoted to Deputy Director of Investments. Since 2014, Brizard has helped lay the foundations for the range of institutional real estate products. In 2016, Fanget – with seventeen years of experience in real estate – joined the institutional division and provided its expertise, in particular for the acquisition and development of value-added operations and managed residences. Pierre-Edouard Niel and Emeric Poyer were appointed investment manager and investment partner, respectively. Niel brings to La Française REM more than nine years of experience in office real estate (development and promotion) while Poyer has in-depth knowledge of real estate financing and international experience.

Redos GroupMarco dibbern was appointed to create and lead the urban logistics pole as general manager. Dibbern joins from Deutsche Logistik Holding, where he was responsible for the development of projects in logistics and industry in northern Germany.

Deutsche InvestmentAchim Ellguth has been appointed Head of Asset Management at DIR Deutsche Investment Retail. Ellguth takes responsibility for all asset management activities in the growing commercial real estate portfolio. His first job will be to build his team as part of the ongoing effort to grow the business of the company. Ellguth worked as an asset and portfolio manager, most recently as head of group portfolio management at Centerscape Deutschland & Co. DIR Deutsche Investment Retail is part of Deutsche Investment and was formed in 2019 specifically to cover the retail grocery segment.

Ridge bridge – The private equity and real estate administration solutions firm has appointed Siân Dalrymple group risk director. Dalrymple will be responsible for overseeing and improving Crestbridge’s risk management function and developing its risk management services platform for its global customers. Prior to joining Crestbridge, Dalrymple was Executive Vice President, Group Compliance and MLRO, and a member of the Executive Committee of NT Butterfield & Son Bank. Prior to that, Dalrymple was Managing Director of Deutsche Bank. Dalrymple has also held compliance positions for companies such as Bank of America, ABN AMRO, J Henry Schroder & Co, Société Générale and Guinness Mahon.

Modular – The construction technology company appointed Jason bennett-meere, as Chief Financial Officer. Bennett-Meere worked at Microsoft, where he was responsible for nurturing business partnerships and partnerships with Microsoft’s management teams. He also worked at Nominet and at Deloitte as a financial partner.


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Kariya Energy to lead dialogue on energy transition in Africa, asset acquisition strategy at African Energy Week in Cape Town https://indiabusiness.info/kariya-energy-to-lead-dialogue-on-energy-transition-in-africa-asset-acquisition-strategy-at-african-energy-week-in-cape-town/ https://indiabusiness.info/kariya-energy-to-lead-dialogue-on-energy-transition-in-africa-asset-acquisition-strategy-at-african-energy-week-in-cape-town/#respond Wed, 06 Oct 2021 11:06:00 +0000 https://indiabusiness.info/kariya-energy-to-lead-dialogue-on-energy-transition-in-africa-asset-acquisition-strategy-at-african-energy-week-in-cape-town/ Innovative energy company Kariya Energy to participate in African Energy Week (AEW) 2021 in Cape Town on 9e-12e of November to promote the role of oil and gas in Africa’s energy transition. Led by the company’s chief executive, Gerd Nji, the Kariya Energy delegation will highlight how innovative technologies can be used to reduce carbon […]]]>

Innovative energy company Kariya Energy to participate in African Energy Week (AEW) 2021 in Cape Town on 9e-12e of November to promote the role of oil and gas in Africa’s energy transition. Led by the company’s chief executive, Gerd Nji, the Kariya Energy delegation will highlight how innovative technologies can be used to reduce carbon emissions, maximize revenue, and improve oil and gas production. With a recent commitment to acquire upstream and midstream oil and gas assets in Africa, the company is committed to ensuring that hydrocarbons play a leading role and essentially thrive in Africa’s energy transition.

Kariya Energy is a full-cycle energy company focused on acquiring very promising “near-to-production” generation assets in Africa. Well positioned to take over marginal fields and residual reserves from international oil companies withdrawing from oil and gas in the face of the energy transition, Kariya Energy uses American and Canadian technology to market resources in Africa. What makes the company unique is that its business strategy has placed the energy transition at the center of its oil and gas strategy, with technological solutions used to decarbonize processes and drive the transition to cleaner fuel sources. As a result, the company is committed to being transparent about carbon emissions reporting, mitigating environmental impact, while accelerating oil and gas production.

“Lean, fit-for-purpose operations, leveraging advancements in digital technologies, offer the opportunity to produce assets efficiently and more economically. We will integrate digital technologies into our operations that will minimize the amount of energy required for production, ”said Nji.

At the same time, with a focus on monetization and natural gas production, Kariya Energy is committed to making small-scale liquefied natural gas (LNG) projects profitable across the continent. The company’s innovation and expertise make it an ideal partner for oil and gas companies looking to transform LNG on a small scale and expand off-grid power generation. By focusing on increasing import and export solutions, improving gas distribution services and combating energy poverty in Africa, Kariya Energy has placed the continent and its resources at the center of its business strategy.

“Kariya Energy’s innovation and commitment in Africa will be essential to develop the oil and gas sector while driving the continent’s energy transition. At AEW 2021 in Cape Town, the company will showcase how asset acquisition, digital solutions and partnerships will be key to maximizing resources, increasing production and tackling energy poverty. African oil and gas companies have a lot to learn from Kariya, and AEW 2021 will be the place for negotiation and engagement, ”said Sergio Pugliese, President for Angola, African Energy Chamber (AEC).

Committed to achieving net zero ambitions by 2050, at AEW 2021 in Cape Town, Kariya Energy will promote its technology-driven operations, efficient operations and clean energy mandate, highlighting how Partnerships with governments and key stakeholders will help drive Africa’s energy growth and transition. The company will focus on natural gas opportunities, asset acquisition and continental partnerships, promoting the value of technology in expanding production, creating jobs and alleviating energy poverty. in Africa.

“We look forward to our participation in AEW 2021 to lead and promote the importance for Africa of increasing its energy portfolio with natural gas and its key benefits, in particular economic growth and alleviating energy poverty. by 2030, “Nji concluded.

AEW 2021, in partnership with the South African Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as a destination for energy investments.

Distributed by APO Group on behalf of the African Energy Chamber.

For more information on Africa’s premier energy event, please visit www.AEW2021.com or www.EnergyChamber.org and / or contact Amina Williams directly at amina.williams@energychamber.org

For any registration request, please contact inscription@aew2021.com

For all sales related inquiries, please contact sales@aew2021.com

For all media inquiries, please contact media@aew2021.com

For any speaker request, please contact orateurs@aew2021.com


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3 offshore companies connect a Swiss bank, a leading arbitrator and his wife, the Gulf tycoon https://indiabusiness.info/3-offshore-companies-connect-a-swiss-bank-a-leading-arbitrator-and-his-wife-the-gulf-tycoon/ https://indiabusiness.info/3-offshore-companies-connect-a-swiss-bank-a-leading-arbitrator-and-his-wife-the-gulf-tycoon/#respond Tue, 05 Oct 2021 22:09:02 +0000 https://indiabusiness.info/3-offshore-companies-connect-a-swiss-bank-a-leading-arbitrator-and-his-wife-the-gulf-tycoon/ Hiroo Advani, lawyer and co-founder of Business India magazine, and his wife Nita Hiroo Advani owned two offshore companies in the British Virgin Islands (BVI) and Seychelles, records in the Pandora Papers studied by The Indian Express. Nita Advani was also co-owner of a third offshore company in BVI with Tony Jashanmal, group director of […]]]>

Hiroo Advani, lawyer and co-founder of Business India magazine, and his wife Nita Hiroo Advani owned two offshore companies in the British Virgin Islands (BVI) and Seychelles, records in the Pandora Papers studied by The Indian Express.

Nita Advani was also co-owner of a third offshore company in BVI with Tony Jashanmal, group director of a family-owned retail and distribution empire in the Gulf.

The records of the Pandora Papers show that a Swiss private bank, Clariden Leu, was authorized to give instructions for the management of the affairs of the three offshore entities. The London address of Clariden Leu has been recorded as the business address of these companies.

Hiroo Advani founded Advani & Co, India’s “oldest specialist arbitration practice” in 1986. The law firm’s website describes him as a “world authority on arbitration law” and “l ‘one of only two Indian lawyers ever listed in the International Who’s Who of Commercial Arbitrators. ”.

Previously, together with his brothers Ashok and Rajkumar, he had founded Business India, a bimonthly, in 1978.

According to the Indian Companies Register (RoC) registers, Nita Hiroo Advani has been the Director since 2006 of Chryssa Real Estate Pvt Ltd in Mumbai (with a 99.9% stake). The records also show a different director identification number for Nita Hiroo Advani for her listing as a director in Narayani Properties And Estate Developers Pvt Ltd in Goa (with a 95% stake).

Holder of an Indian passport, Jhangiani Tony Naraindas Jashanmal runs the Jashanmal group which began its journey in 1919 when his grandfather established his first department store in Basra, Iraq.

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Today, the group operates more than 150 stores in the United Arab Emirates, Kuwait, Bahrain and Oman, as well as a distribution network of consumer goods and services spanning more than 1,000 points of sale. .

On May 3, 2010, Hiroo and Nita provided compliance information as beneficial owners of Lidcote Ltd, a company incorporated in BVI, and Faraday International Limited, which was incorporated in Seychelles.

On the same day, Nita and Tony Jashanmal provided details of compliance as beneficial owners of Batheath Ltd, which was incorporated in BVI.
Lidcote (BVI) was established in December 2006, Batheath (BVI) in March 2008 and Faraday International (Seychelles) in December 2008.

In compliance cases, Advanis and Jashanmal were represented by Clariden Leu Asset Management (UK) Ltd, a subsidiary of Credit Suisse until its acquisition by Swiss asset management company Falcon Private Bank in 2013.

The Advanis and Jashanmals declared inheritance, personal and business property as a source of funds for these businesses.

Read | After Panama, it’s Pandora: faced with the regulatory heat, Indian elites are finding new ways to keep their wealth in secret havens

In addition to serving as holding and investment companies, these three entities have listed businesses on offer ranging from real estate, oil and mining to money transfer and jewelry. The beneficiaries used directors, secretaries and shareholders for all three companies.

In a resolution of July 5, 2010, Faraday International (Seychelles) recorded that “the Company borrows from Clariden Leu Ltd and has pledged (all / part) of its assets held with Clariden Leu Ltd as collateral” on May 11, 2010.

Earlier in February 2009, Clariden Leu wrote to business service provider Cook Worldwide on behalf of Hiroo Advani for the establishment of a Mauritius company as a wholly owned subsidiary of Batheath Limited (BVI). This communication was copied to Hiroo Advani.

One of the goals of the proposed Mauritian company, Clariden Leu wrote, would be “to invest in real estate investments, including hotel and hotel projects in India”.

In 2017, the exhibition records, the two BVI companies – Batheath Limited and Lidcote Limited – were struck off the register. Faraday International (Seychelles) was due to be struck off in June 2016, but its status remains unclear.

In an email response to questions from The Indian Express, Hiroo Advani said, “These are NRI client companies and as far as I know the clients shut them down about 10 years ago. Do not have any other information because I did not keep old files. Nita Advani has never had a stake in Batheath Ltd (BVI). Tony Jashanmal has been a businessman in the Gulf for 50 years and I am not aware of his business connections. Nita Advani’s national businesses are all local businesses and all returns have been filed and taxes paid.

In an email response, Jashanmal said, “I am a non-resident Indian and have lived and run business outside of India for over 50 years. I have no recollection of ever having a Batheath Limited (BVI) offshore company.

“Anyway, it’s been so long and even I had such a company that it was never activated and couldn’t have funds over $ 100. I didn’t own any. action with Nita Hiroo Advani and never in the past and present has any kind of commercial interest, property or other business relationship with her, ”he said.


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RBI licenses National Asset Reconstruction Company: CEO of Association of Indian Banks https://indiabusiness.info/rbi-licenses-national-asset-reconstruction-company-ceo-of-association-of-indian-banks/ https://indiabusiness.info/rbi-licenses-national-asset-reconstruction-company-ceo-of-association-of-indian-banks/#respond Tue, 05 Oct 2021 06:15:00 +0000 https://indiabusiness.info/rbi-licenses-national-asset-reconstruction-company-ceo-of-association-of-indian-banks/ “Happy to share #RBI licensed #NARCL on 4.10.2021. The approval was granted under Article 3 of the #SARFAESI Act of 2002, ”tweeted Association of Indian Banks CEO Sunil Mehta. On October 4, the Reserve Bank of India (RBI) granted a license to the National Asset Reconstruction Company Ltd. NARCL was incorporated in July in Mumbai […]]]>

“Happy to share #RBI licensed #NARCL on 4.10.2021. The approval was granted under Article 3 of the #SARFAESI Act of 2002, ”tweeted Association of Indian Banks CEO Sunil Mehta.

On October 4, the Reserve Bank of India (RBI) granted a license to the National Asset Reconstruction Company Ltd.

NARCL was incorporated in July in Mumbai after its registration with the Registrar of Companies (RoC).

“Happy to share #RBI licensed #NARCL on 4.10.2021. The approval was granted under Article 3 of the #SARFAESI Act of 2002, ”tweeted Association of Indian Banks (IBA) CEO Sunil Mehta.

IBA, responsible for setting up the bad bank, has set up a preliminary board for the NARCL.

The company hired PM Nair, a stressed assets expert from the State Bank of India (SBI), as its managing director.

The other directors on the board are IBA CEO Mehta, SBI Deputy Managing Director SS Nair, and Canara Bank Managing Director Ajit Krishnan Nair.

Finance Minister Nirmala Sitharaman said in the 2021-2022 budget that the high level of provisioning by public sector banks to their stressed assets calls for measures to clean up the bank books.

“A limited asset reconstruction company and an asset management company would be created to consolidate and take over the existing stressed debt,” she said in the budget speech.

It will manage and sell the assets to alternative investment funds and other potential investors for possible valuation, she said.

Last month, Cabinet approved a proposal to provide a government guarantee worth 30,600 crore to security receipts issued by NARCL.

NARCL will pay up to 15% of the agreed value for bad debts in cash and the remaining 85% would be government guaranteed collateral receipts.

It will be 51% owned by public service bodies and the remainder by private sector lenders.

Last week, SBI, Union Bank of India and Indian Bank each took 13.27% stake in NARCL, while Punjab National Bank acquired around 12% stake.

NARCL will take over identified bad debts from lenders.

The lead bank with an offer in the hands of NARCL will go for a “Swiss Challenge”, in which other actors in the reconstruction of assets will be invited to improve the offer made by a chosen bidder to find a higher valuation high of a non-performing asset for sale.

The company will take over the assets that are 100% provided by the lenders. The banks have identified around 22 bad loans worth 90,000 crore to be transferred to NARCL in the initial phase.


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China Evergrande to raise $ 5 billion through sale of real estate units – Global Times https://indiabusiness.info/china-evergrande-to-raise-5-billion-through-sale-of-real-estate-units-global-times/ https://indiabusiness.info/china-evergrande-to-raise-5-billion-through-sale-of-real-estate-units-global-times/#respond Mon, 04 Oct 2021 10:17:00 +0000 https://indiabusiness.info/china-evergrande-to-raise-5-billion-through-sale-of-real-estate-units-global-times/ Trading in Evergrande, Evergrande Property Services stopped Chinese property developer Hopson’s shares also suspended Hopson buys 51% stake in real estate services unit – Global Times Wider market nervousness returns, offshore yuan slips HONG KONG, Oct.4 (Reuters) – China Evergrande to sell controlling stake in its property management business for more than $ 5 billion, […]]]>
  • Trading in Evergrande, Evergrande Property Services stopped
  • Chinese property developer Hopson’s shares also suspended
  • Hopson buys 51% stake in real estate services unit – Global Times
  • Wider market nervousness returns, offshore yuan slips

HONG KONG, Oct.4 (Reuters) – China Evergrande to sell controlling stake in its property management business for more than $ 5 billion, Chinese media said on Monday, a deal that would be the largest asset sale ever. by the indebted property developer. if it advances.

Once China’s best-selling real estate group, Evergrande faces what could be one of the country’s biggest restructurings as the company is weighed down with approximately $ 305 billion in debt. The uncertainty over Evergrande’s fate has disrupted financial markets, worried about the fallout from his problems.

Evergrande (3333.HK) said Monday it has requested a halt to trading its shares in Hong Kong pending the announcement of a major transaction. Evergrande Property Services Group (6666.HK), a listed spin-off last year, also requested the shutdown and said it was referring to “a possible general offer for the shares of the company”.

The state-backed Global Times said that Hopson Development (0754.HK) was the buyer of a 51% stake in the real estate sector for more than HK $ 40 billion (HK $ 5.1 billion). dollars), citing other unspecified media reports. Hopson also said it has suspended trading in its shares, pending an announcement of a major acquisition of a Hong Kong-listed company and a possible mandatory bid.

Hopson and Evergrande did not respond to requests for comment on the Global Times report.

Analysts said the possible deal indicates the company is still working to meet its obligations. But it also rekindled wider concerns about the risk to China’s real estate sector and economy if Evergrande were to liquidate at low prices.

“Selling an asset means they’re always trying to raise money to pay the bills,” OCBC analyst Ezien Hoo said. “Looks like the property management unit is the easiest to take down in the grand scheme of things.”

In August, Reuters reported that Evergrande was in talks with public and private companies to sell stakes in its property management and electric vehicle business, citing a source familiar with the matter.

Beijing has also prompted state-owned companies and state-backed developers to buy some of Evergrande’s assets, people with knowledge of the matter told Reuters last week. Read more

Hopson is well positioned relative to other real estate developers in China, owning more assets than liabilities and improving profits in the first half of the year.

Hopson shares, which have a market value of HK $ 60.4 billion ($ 7.8 billion), have jumped 40% so far this year and were rated B + by Fitch in June.

Evergrande’s real estate services business, which says it manages a total contract floor area of ​​810 million square meters at the end of June, was also profitable in the first half of 2021, based on its financial statements.

If the deal is made at the price quoted by the Global Times, that represents a discount of around 17.5% from the Services Group’s December 2020 quote assessment.

NERVOUSNESS

With liabilities equal to 2% of China’s gross domestic product, Evergrande has raised concerns that its problems will spill over through the global financial system.

Nerves eased after China’s central bank pledged to protect the interests of homebuyers, but ramifications for the Chinese economy have kept investors on the lookout. Read more

Monday’s suspension of stock trading pushed the offshore yuan down, which fell about 0.3% against the dollar, and weighed on the benchmark Hang Seng (.HSI).

Possible trading activity raised shares of Evergrande’s electric vehicle unit (0708.HK) by 29%, but cast a shadow over regional stocks and global markets (.MIAPJ0000PUS).

“This is definitely a positive step towards resolving the Evergrande liquidity crisis and we expect more to come,” said Gary Ng, senior Asia-Pacific economist at Natixis.

“However, that said, offloading some assets may not be completely enough, the key for Evergrande is to start construction on the project and sell inventory.”

Evergrande shares have plunged 80% so far this year, while its bonds have remained stable at troubled levels.

The group said last month it negotiated a settlement with some domestic bondholders and made a repayment on some wealth management products, largely held by Chinese retail investors.

Holders of the company’s $ 20 billion offshore debt appear further in the queue of creditors and bondholders have said interest payments owed in recent weeks have not arrived .

Evergrande faces deadlines for dollar bond coupon payments totaling $ 162.38 million in October.

($ 1 = 7.7868 Hong Kong dollars)

Reporting by Tom Westbrook in Singapore and Donny Kwok and Alun John in Hong Kong; Additional reporting by Anne Marie Roantree; Editing by Kenneth Maxwell, Shri Navaratnam and Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.


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and China Asset Integrity Management Market Size to Record Substantial CAGR over the 2021-2026 Period https://indiabusiness.info/and-china-asset-integrity-management-market-size-to-record-substantial-cagr-over-the-2021-2026-period/ https://indiabusiness.info/and-china-asset-integrity-management-market-size-to-record-substantial-cagr-over-the-2021-2026-period/#respond Sun, 03 Oct 2021 11:10:16 +0000 https://indiabusiness.info/and-china-asset-integrity-management-market-size-to-record-substantial-cagr-over-the-2021-2026-period/ and China Asset Integrity Management Market, this report includes the analysis of the impact of the COVID19 outbreak of the key points influencing the growth of the market. In addition, and the China Asset Integrity Management Market (by Major Key Players, by Types, by Applications and Major Regions), Segment Outlook, Business Assessment, Competition Scenario, Trends […]]]>

and China Asset Integrity Management Market, this report includes the analysis of the impact of the COVID19 outbreak of the key points influencing the growth of the market. In addition, and the China Asset Integrity Management Market (by Major Key Players, by Types, by Applications and Major Regions), Segment Outlook, Business Assessment, Competition Scenario, Trends and Forecast by Year to to come. The study of and report of China Asset Integrity Management is carried out on the basis of substantial research methodology which provides analytical inspection of the global market based on various segments, the industry is also alienated in summary and advanced size. of the market because of the various prospects possibilities. The report also gives a 360-degree overview of the competitive landscape of industries.

The China Asset Integrity Management Market research report deeply investigates the vertical with respect to the key growth catalysts, challenges, opportunities and limitations that will define industry dynamics during the stipulated period. In addition, it strongly emphasizes the production-consumption ratio for a better realization of the trajectory of the industry. Further, the analysis involves a holistic account of each market segment as well as their respective subdivisions.

In addition, the Business Intelligence report conducts a country-level survey in key regions followed by a disclosure of the competitive hierarchy of companies in that business space using Porter’s Five Forces Analysis. Apart from that, the study tries to predict the long-term meanings of the Covid-19 pandemic and therefore offers effective business strategies to get through the crisis.

Request a copy of this report @ https://www.nwdiamondnotes.com/request-sample/26187

Key Features of the China Asset Integrity Management Market Report:

  • From a geographic perspective, the Chinese Asset Integrity Management market is divided into United States, Canada, Germany, France, United Kingdom, Italy, Russia, Spain, Netherlands, China, Japan , Korea, India, Australia, Indonesia, Vietnam, Turkey, Saudi Arabia Saudi, South Africa, Egypt, Brazil, Mexico, Argentina, Colombia.
  • Key aspects such as production capacity, annual growth rate, overall market share and net revenue of each region are cited in the report.
  • As for the product field, and the Chinese asset integrity management market is divided into Risk Based Inspection (RBI), Reliability, Availability and Maintainability (RAM) Study, Corrosion Management, Pipeline Integrity Management, Hazard Identification Study (HAZID), Structural Integrity Management, inspection of non-destructive testing (NDT) and others.
  • Moving on to the application spectrum, the vertical is divided into Oil & Gas, Energy, Mining, Aerospace, Others,, By region and North America.
  • Compound annual growth rate estimates, along with statistical information related to pricing models, net revenue, and sales numbers for each application and product type are provided in the document.
  • Speaking of the production aspect, the report makes a granular assessment of the overall manufacturing framework of the product.
  • Based on the consumption aspect, the survey highlights specificities related to the volume of consumption and the value of the respective product offerings.
  • The major organizations operating in the Chinese asset integrity management market are ABB Applus + Bureau Veritas Fluor General Electric Intertek Aker Solutions Asset Integrity Engineering Element Materials Technology Plant EMandI IQ Geanti Marine Limited Oceaneering International Penspen SGS STAT Marine Viper Innovations.
  • The comprehensive product and service portfolios of the best players are systematically documented.
  • Other crucial facets related to the business including total operating profits, sales and revenues, production capacity, manufacturing expenses and pricing models of major players are examined.

Additional takeaways from the China Asset Integrity Management Market report:

  • The research literature incorporates a comprehensive analysis of the supply chain according to the upstream and downstream bases as well as the different distribution channels.
  • An investment feasibility study for potential projects with respect to vital elements such as project name, proposed services and solutions, project schedule and budget allocations is also hosted in the study.

The key questions answered in this report:

  • What will the market size and growth rate be during the forecast year?
  • What are the key drivers and the Chinese Asset Integrity Management Market?
  • What are the risks and challenges of the market?
  • Who are the major suppliers and the Chinese asset integrity management market?
  • What are the trend factors influencing market shares?
  • What are the main results of Porter’s five forces model?
  • What are the global opportunities and the Chinese Asset Integrity Management market?

Influence of China Asset Integrity Management Market Report and China

  • Comprehensive assessment of all opportunities and risks in the Chinese Asset Integrity Management market
  • and China Asset Integrity Management in the market for recent innovations and major events
  • A detailed study of the business strategies for the growth of the major China Asset Integrity Management Market players and
  • Conclusive Study on Growth Curve of Chinese Asset Integrity Management Market and China for the Coming Years
  • In-depth understanding of the drivers, constraints and key micro-markets of Asset Integrity Management in China
  • Favorable impression inside vital latest technology and market trends hitting market report

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MedleyMed builds a network of light active online pharmacies, à la OYO https://indiabusiness.info/medleymed-builds-a-network-of-light-active-online-pharmacies-a-la-oyo/ https://indiabusiness.info/medleymed-builds-a-network-of-light-active-online-pharmacies-a-la-oyo/#respond Sat, 02 Oct 2021 15:32:52 +0000 https://indiabusiness.info/medleymed-builds-a-network-of-light-active-online-pharmacies-a-la-oyo/ A MedTech start-up is building a network of pharmacies and trying to do what OYO has done in the hotel space. MedleyMed, a subsidiary of ESB-listed Athena Global Technologies Ltd, says it is building a lightweight asset model, aggregating pharmacies in the unorganized sector. “We will be expanding the reach of stand-alone pharmacies who can’t […]]]>

A MedTech start-up is building a network of pharmacies and trying to do what OYO has done in the hotel space. MedleyMed, a subsidiary of ESB-listed Athena Global Technologies Ltd, says it is building a lightweight asset model, aggregating pharmacies in the unorganized sector.

“We will be expanding the reach of stand-alone pharmacies who can’t imagine going online with their limited resources,” said Mr. Satyendra (Satish), Managing Director of MedleyMed and Athena Global Technologies. Activity area.

Building a new e-commerce pharmacy involves a lot of investment and effort, he points out. By leveraging MedleyMed’s online brand, neighborhood pharmacies, which face stiff competition from large drugstores and brand name stores, can expect additional revenue.

Under one brand

The aggregated pharmacy network will sell drugs and health products online under the MedleyMed brand. “We will integrate them on the technological platform and help them manage stocks, in addition to offering them the MedleyMed tag. People would like to go to a brand name store, ”he said.

Currently in beta test mode in 25 pharmacies in Hyderabad, the model will be extended to other stores in Hyderabad and other cities. MedleyMed comes with a different revenue model. In one model, it would take care of the entire inventory, while the retailer would operate the store with a 20 percent margin on MRP. In the other model, the store owner pays a monthly fee for the use of the brand name and technology.

Besides this online window, MedleyMed is also working on a digital platform for hospitals, clinics, doctors, drug manufacturers and pharmacies, providing them with end-to-end supply chain solutions.

Cost reduction method

“Our platform allows retail pharmacies to buy drugs directly from the cheapest manufacturers or distributors, resulting in significant savings,” he said. “We offer business-to-business and business-to-consumer solutions and a telemedicine platform that can be white-labeled by hospitals,” he said.

Athena Global has invested 30 crore over the past three years in building MedleyMed, which has 100 employees. Satyendra said the Covid-19 pandemic has triggered demand for digital healthcare products and solutions such as Director to Consumer (Retail Health and Wellness), Director to Patient (Care Management) and direct to employee (a combination of the other two).

“We aim to target these opportunities with our Software-as-a-Service (SaaS) -based telemedicine, enterprise resource planning, and SaaS-based point-of-sale technology platforms,” he said. The company is also making a foray into the American and African market by launching these products there.


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Business News | Stock market and stock market news https://indiabusiness.info/business-news-stock-market-and-stock-market-news/ https://indiabusiness.info/business-news-stock-market-and-stock-market-news/#respond Sat, 02 Oct 2021 03:46:30 +0000 https://indiabusiness.info/business-news-stock-market-and-stock-market-news/ Search for quotes, news, net asset values ​​of mutual funds Paras Defense INE045601015, PARAS, 543367 zee entertain INE256A01028, ZEEL, 505537 Addiction INE002A01018, RELIANCE, 500325 TIC INE154A01025, ITC, 500875 Fluid-Air India ,, 531753 Search for quotes, news, net asset values ​​of mutual funds Paras Defense INE045601015, PARAS, 543367 zee entertain INE256A01028, ZEEL, 505537 Addiction INE002A01018, RELIANCE, […]]]>














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