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Zee Entertainment signs merger deal with Sony Pictures, Pm Modi visit, and more

By on September 22, 2021 0

Zee Entertainment has signed a merger agreement with Sony Pictures Networks India Private Limited, the company said on Wednesday in an exchange document. Markets are keeping a close eye on the upcoming Federal Open Market Committee (FOMC) meeting. An internal government assessment has shown consumers of LPG cylinders are willing to pay Rs 1,000 per cylinder, senior sources in North Block told CNBC-TV18. Prime Minister Narendra Modi will participate in a wide range of engagements ranging from the Quad Summit 2021 to attending the United Nations General Assembly session, as well as a meeting with US President Joe Biden and his deputy Kamala Harris during his visit to the United States. For all those stories and everything, here’s some news of the day

ECONOMY / BUSINESS

Zee Entertainment signs merger agreement with Sony Pictures Networks India

Zee Entertainment has signed a merger agreement with Sony Pictures Networks India Private Limited, the company said on Wednesday in an exchange document.

Puneet Goenka will continue to provide services to the merged company as managing director and CEO for a period of 5 years, the company said.

After the deal, Sony promoters will have the right to appoint the majority of the directors of the merged company. continue reading

AfDB cuts India’s economic growth forecast for this fiscal year to 10%

The Asian Development Bank on Wednesday revised downward India’s economic growth forecast for the current fiscal year to 10%, from 11% forecast earlier, citing the negative impact of the second wave of the pandemic.

Growth forecasts for India in FY2021 (ending March 2022) have been revised down as the peak of COVID-19 cases in May hampered recovery, Asian Bank said development (ADB) in its latest economic outlook. continue reading

What Experts Say About Evergrande, Its Impact on Chinese and Global Economies

Since the Lehman Brothers have not all observed a single company in the financial markets of the world: the Chinese real estate developer Evergrande. This company knocked down all stock indexes around the world this week by more than two percentage points, decimated commodity prices, and rocked the cryptocurrency markets as well. continue reading

Gig workers move SC alleging violation of social security rights by Ola, Uber, Zomato, Swiggy

The union of “concert workers” took the Supreme Court to the Supreme Court for violation of “fundamental rights to social security” by Ola, Uber, Zomato and Swiggy.

The Indian Federation of Application-Based Transport Workers (IFAT), which includes mobile app-based transport workers and delivery people across India, has moved the Supreme Court against four platforms – Ola, Uber, Zomato and Swiggy. continue reading

MARKETS

Here’s a look at Zee Entertainment’s ratings after its deal with Sony

Zee Entertainment has jumped about 31 percent in commerce following approval by its board of directors of a proposed merger with Sony Pictures. Zee Entertainment will own 47.07 percent, while Sony India will own 52.93 percent of the capital of the merged company. Puneet Goenka will continue to provide services to the merged company as Managing Director and CEO for a period of five years. continue reading

FOMC meeting tonight: Here’s what the market expects to hear from Fed Chairman Jerome Powell

Markets are keeping a close eye on the upcoming Federal Open Market Committee (FOMC) meeting. The Fed’s statement should give more clarity on when the cut begins in December. In other words, the markets are not expecting a definitive cut announcement tonight, but rather a signal that a cut announcement will surely or not come at their next meeting scheduled for November. continue reading

Editor’s Opinion: Global Volatility Could Impact India’s FII Flows, Markets Cannot Stay Safe

Latha Venkatesh of CNBC-TV18 did a gauge survey with economists who work for foreign brokerage houses and therefore have some idea of ​​flows abroad.

Here is what they say:

The low base of April, May and June of this year, due to the second wave of COVID, was not factored into the fiscal year 23 GDP estimates. So many of them expect a healthy 3-5 percentage point increase in GDP estimates for next year. continue reading

With Nifty reaching new heights, here’s how to choose new mutual funds

The Indian stock market has recorded historic highs on a weekly basis over the past several months. With this, the difficulty of identifying and investing in the right opportunities has also increased.

Since the start of the year, while the benchmark Nifty 50 has generated 26%, the Nifty midcap and Nifty small cap indices have generated 43% and 51% respectively. continue reading

INDIA

UK Approves Covishield As COVID-19 Vaccine; quarantine rules still in place

The British government said on Wednesday that the Serum Institute of India’s Covishield was considered an approved vaccine against COVID-19. The approval was part of the revised travel advisory issued by the UK. Continue reading

Two other Indian beaches receive the coveted “Blue Flag” label

Two other beaches in India have received “Blue Flag” certification, an international eco-level label, bringing the total number of such beaches in the country to 10, the Environment Ministry said. Continue reading

PM Modi’s visit to the United States: everything is on the program

Prime Minister Narendra Modi will be involved in a wide range of engagements, from the Quad Summit 2021 to attending the United Nations General Assembly session, to meeting with US President Joe Biden and his deputy Kamala Harris. Continue reading

WORLD

Taliban write to UN chief spokesperson Shaheen as Afghan envoy asking to attend UNGA

The Taliban wrote to Secretary-General Antonio Guterres appointing their spokesperson Suhail Shaheen as Afghanistan’s new ambassador to the UN and asked to participate and speak at the 76th high-level session of the General Assembly currently in progress. Continue reading

Lithuania says to throw out Chinese phones over censorship concerns

Lithuanian Defense Ministry advised consumers to avoid buying Chinese cellphones and advised people to throw out those they have now after a government report found the devices had built-in censorship capabilities . Continue reading

Asia’s food spending set to double to over $ 8 trillion by next decade: report

Asian consumers are expected to increase their food budgets to over $ 8 trillion over the next decade. A new joint report from PwC, Rabobank and Temasek, the Asia Food Challenge Report 2021, said the region’s food spending will more than double by 2030. Continue reading

You and me

The government’s assessment shows that consumers of LPG are willing to pay Rs 1,000 per bottle; no clarity on the grant

An internal government assessment has shown consumers of LPG cylinders are willing to pay Rs 1,000 per cylinder, senior sources in North Block told CNBC-TV18. CNBC-TV18 further learned that there was no clarity within government on whether to grant a subsidy after the LPG price spike. Continue reading

Home loan balance transfer: key points to consider before switching to a new lender

It’s raining deals on home loans as big banks announce cheaper interest rates ahead of the holiday season to entice home buyers or those considering moving their mortgages to another bank. The obvious question that most borrowers face in such a situation is: should I switch to a lower interest rate home loan or just a balance transfer home loan?

Experts suggest that borrowers should consider mortgage balance transfers with additional, often hidden, costs into account. Continue reading

(Edited by : Aditi Gautam, Anshul)

First publication: STI


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