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KKR secures Indian regulator approval for Gentari Renewables investment

New Delhi Global investment major KKR has received the competition watchdog CCI's approval to acquire a stake in Gentari Renewables India, a clean energy platform of Malaysia's energy giant PETRONAS. KKR is making the investment through its affiliate Sapphire US HoldCo (USA), LLC, which will subscribe to certain securities of Gentari Renewables India Pte Ltd, the Competition Commission of India (CCI) said on Tuesday.

Equitas Small Finance Bank rebounds after naming interim chief executive

Following a 19 per cent rout in four days, shares of Equitas Small Finance Bank (Equitas SFB) bounced back on Wednesday after the lender named Balaji Nuthalapadi as the interim CEO, subject to the central bank's approval. The bank, on November 3, said it would its Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved the appointment of Balaji Nuthalapadi, who is currently serving as a Whole-Time Director (Executive Director), as its interim CEO, subject to the ap

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Pakistan police strike after attacks on polio vaccination teams

More than 100 Pakistan police who provide security for polio vaccination teams in restive border areas went on strike Thursday after a string of deadly militant attacks this week.

Markets rally with Wall St after US inflation eases further

A surge in tech firms Thursday helped Asian markets track a Wall Street rally after data showed US inflation at a more than three-year low, reinforcing expectations the Federal Reserve will cut interest rates next week.

Businesses warn Yellen on 'political pressure' over US Steel sale

Major Japanese and American business groups have urged US Treasury Secretary Janet Yellen not to succumb to political pressure when reviewing Nippon Steel's proposed acquisition of United States Steel.

Brazil's Indigenous people hail return of sacred cloak

With the beating of drums and pipes filled with medicinal herbs, the Tupinamba people of Brazil are counting down the final hours of a 335-year wait for the official return of a sacred cloak taken in colonial times.

With inflation slowing, ECB to cut rates again

With inflation slowing and the economic outlook darkening, the European Central Bank is expected to cut interest rates again Thursday but is unlikely to give much away about its next moves.

Asian markets rally with Wall St after US inflation eases further

Boeing faces potential strike as Seattle workers vote

Boeing faces a potentially crippling strike in the Seattle region, depending on how 33,000 workers vote Thursday on a new contract that has angered many employees despite solid wage gains.

On Cuban streets, mid-century icons face challenge from new rides

Brand new Mercedes, state-of-the-art 4x4s, even Teslas: high-end, modern cars have started appearing in Havana, a city whose image is intricately linked to the classic American sedans and Soviet-era Ladas that cruise its streets.

Argentine Congress backs Milei veto of pensions hike

Argentina's Congress on Wednesday upheld President Javier Milei's veto of a bill to increase pensions which sparked clashes outside parliament.

Ghana raises cocoa price by 45% to deter smuggling

Ghana's government on Wednesday announced a 45-percent increase in the producer price of cocoa for the 2024/2025 crop season, in a bid to curb smuggling.

US stocks rebound as market eyes Fed rate cut after inflation data

Semiconductor stocks were among the strongest performers Wednesday as US stocks staged a rebound to finish higher following mixed inflation data.

Argentine Congress upholds Milei veto of pensions increase

Argentina's Congress on Wednesday upheld a veto by President Javier Milei of a bill to increase pensions, as protesters clashed with police outside the building.

UN experts call for global system to trace critical minerals

UN experts called Wednesday for the creation of a global system to trace the extraction and production of critical minerals that are needed in the transition away from fossil fuels.

Afghanistan says to begin work on huge gas pipeline

Afghanistan said Wednesday work would begin on a $10 billion gas pipeline traversing South Asia as officials joined dignitaries in neighbouring Turkmenistan to celebrate its completion on that side of the border.

US stocks diverge as investors weigh slowing inflation

US stocks diverged on Wednesday as consumer inflation fell more than expected, fuelling a debate about the size of an expected Federal Reserve interest-rate cut next week.

Senior with style: Retirees take centre stage at Vienna Fashion week

Style is ageless, say a group of retirees who have just debuted their self-made collection at the Vienna Fashion Week.

US consumer inflation eases more than expected in August

US consumer inflation eased more than expected last month, according to government data published Wednesday, bolstering expectations that the Federal Reserve will cut interest rates next week.

East Timor says Australia pipeline deal to be struck by November

East Timor President Jose Ramos-Horta said on Wednesday a deal with Australia on a vast fossil fuel project seen as crucial to the tiny nation's economic future will be struck by November.

Man Utd post losses for fifth straight year

Manchester United on Wednesday posted net losses of £113.2 million ($148 million) for 2023/24 despite earning record revenues -- their fifth straight year of losses.

UK economy stalls, dealing blow to new government

Britain's economy stalled again in July, official data showed Wednesday, dealing a blow to the new Labour government that has put growth expansion at the top of its priority list.

UniCredit takes stake in Commerzbank, fuelling tie-up talk

Commerzbank shares soared Wednesday after Italian bank UniCredit acquired a nine-percent stake in Germany's second-biggest lender, half of it from the German state, fuelling speculation about a potential takeover.

Nigeria's Dangote refinery caught between promise and reality

When will gasoline from Nigerian tycoon Aliko Dangote’s mega-refinery finally flood the home market? That's the question Nigerians are asking as Africa’s most populous country battles chronic petrol shortages.

Markets mixed ahead of US inflation, yen rallies after US debate

Equity markets were mixed Wednesday as worries about the world's top two economies offset US rate cut optimism, while the yen hit a nine-month high after a Bank of Japan official hinted at more monetary tightening.

Property website Rightmove rejects £5.6 bn Murdoch bid

UK online property website Rightmove said Wednesday it had rejected a multi-billion-pound takeover offer from Australian peer REA Group, majority owned by Rupert Murdoch's News Corp empire.

Markets drop on economy worries, yen rallies after US debate

Equities slipped Wednesday as worries about the world's top two economies offset US rate cut optimism, while the yen hit a nine-month high after a Bank of Japan official hinted at more monetary tightening.

Harris, Trump cross swords on China and economy in debate

US presidential hopefuls Kamala Harris and Donald Trump clashed on China and economic issues Tuesday, with the Democratic candidate saying he "sold us out" on China while the former president declared "they've destroyed the economy."

Asian markets drop on economy worries, yen rallies

Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world's top two economies offset optimism that the Federal Reserve will start cutting interest rates next week.

Power struggle: Serbia eyes nuclear energy to fuel future

Time stands still at Serbia's Vinca nuclear facility, where the decommissioned Yugoslav-era reactor is a testament to the fears generated by the controversial energy source.

Tea trouble brews for Sri Lankan presidential hopefuls

The backbone of the economy, Sri Lanka's tea pickers are determined to use their powerful vote to choose a president this month who will change grim working conditions for good.

Weight loss drug safe, effective for under-12 kids: study

A weight loss drug has been found to be broadly safe and effective for children under 12 with obesity, according to a small study on Wednesday that was cautiously welcomed by outside experts.

Who is on SpaceX's historic private spacewalk mission?

Four US civilians are set to attempt the first-ever private spacewalk on Thursday -- a risky endeavor usually reserved for trained astronauts from government agencies.

Crisis-hit Volkswagen scraps German job protection deal

Volkswagen on Tuesday axed an agreement protecting jobs in Germany that had been in place three decades, as the ailing auto titan pushes ahead with a controversial cost-cutting plan.

The Prague Post - Economy (English)