Perth has secured the rights to host the world’s largest marine mammal conference, ahead of competing bids from China and Singapore.…
Even as there is no end in sight for the coronavirus pandemic, which scuppered deal-making activities in the first half of the year, global investment bank Rothschild & Co is bullish on India deal street as it’s already working on a pipeline of deals worth billions of dollars.
Domestic deal activity managed to remain in the green during the first half, thanks to the unprecedented stake sale by Reliance Industries in Jio Platforms, between April and June, worth nearly $15 billion (about Rs 1.12 trillion) through 11 deals.
This helped the overall deal-making grow 14.5 per cent to $43.8 billion (about Rs 3.28 trillion) in the first half of 2020, according to numbers collated by Mergermarkets.
According to Aalok Shah, managing director of Rothschild & Co in India, the bank had a reasonably good first half as it completed three large deals — the $490-million Piramal-Carlyle deal, $900-million Edelwiess-Engie deal, and TVS’ buyout of British bike company Norton Motorcycles, and is working on a number of deals which could be completed in the second half.
“We had a decent start to the year with the $900 million
Bandhan Bank’s main shareholder Bandhan Financial Holdings is selling 337.4 million shares in the Indian lender in a block trade seeking to raise $1.4 billion, according to deal teams obtained by Bloomberg News.
Those shares are offered at a floor price of $4.16 each, according to the terms.
Books will close by 11:30 pm in Hong Kong on August 2. and trading will start on August 3. Credit Suisse Securities (India), J.P. Morgan India, Goldman Sachs (India) Securities and JM Financial Institutional Securities are joint bookrunners for the deal.
America’s first crewed spaceship since the Space Shuttle era was set to splash down in the Gulf of Mexico on Sunday.
Astronauts Bob Behnken and Doug Hurley were carrying out final preparations in the SpaceX Crew Dragon capsule “Endeavour” which should land off the coast of Pensacola at 2:48 pm (1848 GMT).
A successful mission would demonstrate that the United States once again has the capacity to send its astronauts to space and bring them back.
The US has had to rely on Russia for this purpose since the last Space Shuttle flew in 2011.
NASA footage showed the recovery boat “GO Navigator,” making its way to the site of the first water landing for a US spaceship since the 1975 joint Apollo-Soyuz mission.
Tropical Storm Isaias, which had scuppered Endeavour’s original landing site in the Atlantic, was nearing Florida’s east coast Sunday morning, hundreds of miles away.
The mission is also a major win for Elon Musk’s SpaceX, which was founded in only 2002 but has leap-frogged its way past Boeing, its main competitor in the commercial space race.
I’m sure many of us have watched in disbelief at the COVID-19 situation unfolding in Melbourne, and are very grateful to be living and working here in the west. Few people would disagree that not only is Perth one of the safest places in the world to be right now, but also to do business.
So it’s perhaps somewhat of a surprise that city workers aren’t back at their desks in city offices en-masse. In the new normal of the COVID world, the WA workforce has largely adapted to working from home, and it seems they’re not in a hurry to return to the CBD.
Some examples include a major accounting firm, which has only 6% of its 600 person workforce coming in, and a large mining company which has red teams and blue teams alternating weeks, but only a quarter of its 4,000 staff opting to show up in person. Overall, Perth has about 135,000 workers and it’s estimated that only 40% have returned post-COVID. Traffic data also shows workers are exiting the CBD early, around 3pm, making the city a ghost town come nightfall.
The impact all of this is having on the small businesses in the city
The government on Saturday widened the scope of the Rs 3-trillion MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs 50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit.
The tweaking of the Emergency Credit Line Guarantee Scheme (ECLGS) was done based on demand from trade bodies and in line with new MSME definition approved by the Union Cabinet in June.
Briefing the media about the changes made, Finance Minister Nirmala Sitharaman said the scheme will now include individual loans given for business purposes within the ambit of the ECLGS, subject to the eligibility criteria of the scheme.
“We have also decided to cover individual loans given to doctors, chartered accountants for business purposes under the scheme,” Financial Services Secretary Debasish Panda said.
Similar procedure as with regard to companies would be adopted to sanction loans to these professionals running their business, he said.
To include more companies to take benefit of the scheme, he said, it has been decided to increase the upper ceiling of loans