UniCredit tests Germany’s RESO
UniCredit’s Commerzbank bid is facing resistance from management and Berlin, as Orcel is pushing to exceed the 30% threshold and force a takeover. UniCredit’s new takeover offer for Commerzbank, launched in mid-March, is facing opposition from both the Frankfurt-based lender and the German government, which owns a 12.7% stake in the bank. UniCredit currently holds…
Magicpin raised loan of Rs 15 crore
The venture debt route allows the company to raise capital without significant equity dilution, while continuing to invest in long-term technology capabilities. The company has already invested around $1 million (approximately Rs 8.5-9.2 crore) to develop its AI-powered assistant, ‘Vera AI’. The tool is designed to help small retailers across the country streamline their operations,…
Government has increased LPG allocation to 7
The government on Wednesday increased the allocation of liquefied petroleum gas (LPG) to industrial units in pharmaceutical, food, polymer, agriculture and several other sectors to 70 per cent. According to a communication from the Ministry of Petroleum and Natural Gas (MoPNG), the allocation will be limited to 200 tonnes per day for each field. Neeraj…
Rupee stable at 92-93
Prime Minister’s Economic Advisory Council (EAC-PM) Chairman S Mahendra Dev on Wednesday said the Indian rupee is expected to stabilize at 92-93 levels against the US dollar and expressed hope that foreign investment inflows will improve in the near future as geopolitical tensions ease and macroeconomic fundamentals remain strong. Dev said the currency faced pressure…
Iran’s envoy warns of ‘proportions’
US President Donald Trump (File photo: PTI) read 1 minute Last update: April 08 2026 | 12:08 am First An Iranian envoy says Tehran will take “immediate and proportionate” action if US President Donald Trump follows through on his threats to attack the country’s “entire civilization”. Tehran’s UN representative, Amir-Saeed Iravani, said Trump’s threat that…
Global Salon: Transaction Bank
Chad Wallace, Executive Vice President, Global Transaction Banking at Scotiabank, offers his insights on digital transformation sweeping transaction banking and the strategies needed to thrive amid rapid disruption. Global Finance: Your career has included serving Mastercard, Goldman Sachs and Capital One. What are the biggest changes you have seen in transaction banking? Chad Wallace: Over…
CCI approves acquisition of Advent 1
Fair trade regulator CCI on Tuesday approved Advent International’s proposal to acquire 14.3 per cent stake in Aditya Birla Housing Finance Ltd. The development comes after the boards of Aditya Birla Capital and Aditya Birla Housing Finance approved a proposal for primary capital investment of ₹2,750 crore in ABHFL in February 2026 from Indriya Limited,…
No plan to curb su
Food Secretary Sanjeev Chopra on Tuesday said India, the world’s second largest sugar producer, has no plans to ban sugar exports. Consumption of sugar and edible oils is falling in India, the world’s largest market, as a shortage of commercial gas cylinders has forced restaurants to scale down operations during the summer holiday season. Lower…
Basel III Framework Faces Revo
New trading rules in the US and Europe are facing delays and amendments as regulators relax requirements amid industry pushback and competitiveness concerns. The final phase of the Basel III framework is being reworked after significant industry and regulatory opposition. Both sides of the Atlantic are now investigating the Fundamental Review of the Trading Book…
Air India CEO Campbell Wilson
Air India CEO Campbell Wilson has resigned as the airline grapples with persistent losses and increased regulatory scrutiny following a crash last year that killed 260 people, Indian newspaper Mint reports. The report of the leadership change comes as the airline grapples with delivery delays and persistent losses. Regulators have also reprimanded the airline for…
