Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Chennai: The <keyword id="20000171" type="General" weightage="20" keywordseo="Tamil-Nadu-government" source="keywords">Tamil Nadu government</keyword> signed agreements with several potential investors, including <keyword id="21472316" type="General" weightage="20" keywordseo="Microchip" source="keywords" meta.keywordsubtype="org" meta.entityname="Microchip" meta.hostid="261" meta.entityid="Microchip">Microchip</keyword>, <keyword id="19941076" type="General" weightage="100" keywordseo="Nokia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nokia" meta.hostid="261" meta.entityid="Nokia">Nokia</keyword> and <keyword id="20160447" type="General" weightage="20" keywordseo="PayPal" source="keywords" meta.keywordsubtype="org" meta.entityname="PayPal" meta.hostid="261" meta.entityid="PayPal">PayPal</keyword>, during Chief Minister M K Stalin's trip to the USA to attract investments to the state. Guidance TN signed a MoU in the presence of the chief minister and Industries Minister, T R B Rajaa, with Microchip, represented by Patrick Johnson and Bruce Weyer, for an R&amp;D Centre in semiconductor technology to be set up at Semmancherry, Chennai, at a cost of Rs 250 crore generating 1,500 jobs. "In the presence of Honourable @CMOTamilNadu Thiru. @MKStalin and Honourable Minister for Industries Dr. @TRBRajaa, @Guidance_TN signed an MoU with Nokia, represented by Mr. Nishant Batra and Ms. Sandy Motley, for a new Nokia R&amp;D Center, their Largest Fixed Network test bed in the world, for innovations in 10G, 25G, 50G, and 100G PON, Fixed Wireless Access, MDU solutions, to be set up at SIPCOT, Siruseri, Chengalpattu at a cost of ₹450 crore generating 100 jobs," Rajaa said in a post on 'X'. Stalin, who is leading a high-level official delegation to the USA, as part of an ambitious goal to transform the state into a USD one trillion economy by 2030, participated in a meeting with potential investors in San Francisco on Thursday. MoUs with Applied Materials, represented by Prabu Raja and Satheesh Kuppurao, for an Advanced AI-Enabled Technology Development Centre for Semiconductor Manufacturing &amp; Equipment to be set up at Taramani, Chennai, generating 500 jobs and Ohmium, represented by Arne Ballantine and Chockalingam Karuppaiah, for a manufacturing facility of components for electrolyser manufacturing and hydrogen solutions systems, to be set up at Chengalpattu, at a cost of Rs 400 crore generating 500 jobs were signed. Also agreements were signed with GeakMinds, represented by Ganesh Gopalakrishnan, for an IT &amp; Analytics Services Centre to be set up at Chennai, generating 500 jobs and with Infinx, represented by Radhika Tandon, for a Technology and Global Delivery Centre to be set up at ELCOT Vadapalanji, Madurai, at a cost of Rs 50 crore generating 700 jobs. The government also inked pact with Yield Engineering Systems, represented by Ramakanth Alapati and Prabhat Mishra, for a product development &amp; manufacturing facility for semiconductor equipment to be set up at Sulur, Coimbatore, at a cost of Rs 150 crore generating 300 jobs and with PayPal, represented by Srini Venkatesan and Zi-Yang David Fan, for an Advanced Development Centre focused on AI, to be set up at Chennai, generating 1,000 jobs, the Industries Minister said in a series of posts. The chief minister would address the Tamil community on August 31, and hold discussions with representatives from the US-based companies at Chicago on September 2, and urge them to invest in Tamil Nadu. During his trip, he would meet the CEOs of Fortune 500 companies. He will return to Chennai on September 14.

Tamil Nadu government inks pact with Microchip, Nokia, PayPal during CM's visit to San Francisco

In a significant diplomatic move, Prime Minister Narendra Modi met with Maldives President Mohamed Muizzu at <keyword id="20751669" type="General" weightage="20" keywordseo="Hyderabad-House" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyderabad House" meta.hostid="261" meta.entityid="Hyderabad House">Hyderabad House</keyword> in Delhi on Monday. This visit is widely seen as an effort to reset ties between the two nations after a year of tense relations. <keyword id="20101322" type="General" weightage="20" keywordseo="President-Muizzu" source="keywords">President Muizzu</keyword>, who arrived in India on Sunday for a five-day visit, received a red carpet welcome. During a joint press briefing, President Muizzu expressed heartfelt gratitude to India, thanking President Droupadi Murmu, <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> and the people of India for their warm reception. He emphasised the Maldives' deep-rooted ties with India, noting that tourism — especially Indian visitors—remains a crucial pillar of the Maldivian economy. “India is our largest source market for tourists, and we hope to welcome even more Indian visitors in the future,” Muizzu remarked. Key areas of cooperation discussed included economic ties and maritime security, critical given the Maldives' position in the Indian Ocean. Following their talks, India granted the financially struggling Maldives a rollover of USD 100 million in Treasury bills, in addition to formalising a <keyword id="23458604" type="General" weightage="20" keywordseo="currency-swap-agreement" source="keywords">currency swap agreement</keyword> and a ₹3,000 crore currency swap. Prime Minister Modi characterised the "development partnership" as a key component of India-Maldives relations, asserting that India has consistently prioritised the needs of the Maldivian people. "Our development partnership is vital to our relationship with the Maldives, and we have always placed importance on the priorities of its people. This year, SBI rolled over USD 100 million in Treasury Bills, and a USD 400 million currency swap agreement was signed based on the Maldives' requirements," he explained. <div type="Article" hostid="261" msid="106837748" title="Withdraw troops by mid-March, Maldives tells India" mstype="2" mssubtype="0"></div>In September, India announced that the <keyword id="19934368" type="General" weightage="20" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> would purchase Maldivian government bonds worth USD 50 million, following a similar USD 50 million transaction in May 2024. Additionally, Prime Minister Modi and President Muizzu witnessed the first <keyword id="20563654" type="General" weightage="20" keywordseo="RuPay-card" source="keywords">RuPay card</keyword> payment transaction launched in the Maldives and virtually inaugurated the runway at Hanimaadhoo International Airport. Modi stated that India and the Maldives would soon be connected through UPI. "Recently, we launched the RuPay card in the Maldives, and in the future, we will link both countries via UPI," he said during a joint press briefing. Muizzu also expressed his desire to conclude a <keyword id="19945642" type="General" weightage="20" keywordseo="Free-Trade-Agreement" source="keywords">Free Trade Agreement</keyword> with India, a step he believes will open the door to greater Indian investment in the Maldives. Modi emphasised India's commitment to supporting the Maldives through various initiatives, including supplying essential commodities and Covid vaccines, inaugurating airports, and constructing social housing. He noted that a new drinking water project is now operational on 28 islands, providing clean water to over 30,000 residents. The leaders also discussed the opening of consulates in Addu and Bengaluru. Tensions between India and the Maldives escalated following Muizzu's election last year, which saw a shift towards a pro-China stance and the promise to withdraw Indian troops stationed in the archipelago. His visit to China before India in January had raised eyebrows in New Delhi, as it was perceived as a slight. However, since attending Modi's swearing-in ceremony for a third term in June, Muizzu has moderated his anti-Indian rhetoric, signalling a thaw in relations. External Affairs Minister S Jaishankar has stated that the discussions provided "a new impetus" to the relationship. This meeting likely marks a positive turn in Indo-Maldivian relations, setting the stage for further cooperation between the two South Asian neighbours. (With inputs from agencies) <div type="Article" hostid="261" msid="112094153" title="Maldives President Muizzu thanks India for economic support, affirms hope of signing FTA" mstype="2" mssubtype="0"></div>

Maldives President Muizzu met with PM Modi in Delhi today. Here’s how it went!

Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding. Vistara's last flight will take off tomorrow i.e. November 11, 2024. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India. Post-merger, SIA expects to recognize a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to Rs 5,020 crore that would allow it to maintain a 25.1% stake in Air India. "SIA's additional capital injection is expected to be Rs 31,945 million (equivalent to SGD 498 million), based on Tata's funding to Air India to date. This will occur after the completion of the merger and within November 2024 through subscription to new Air India shares. "Future capital injections will be considered based on Air India's requirements and available funding options," according to the release issued while announcing the airline's financial performance for the six months ended September 2024. The merger of Vistara with Air India will mark a major consolidation in the fast-growing Indian aviation space. SIA said the merged entity will have a significant presence across all key Indian air travel segments, including domestic, international, full-service, and low-cost operations. "This will strengthen SIA's multi-hub strategy, allowing it to continue participating directly in India's large and fast-growing aviation market," it added. Recently, Air India and SIA agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

<ul class="summary-list"><li>Major banks like Goldman Sachs walloped Wall Street expectations thanks to dealmaking fees.</li><li>Investment banking has made a comeback, and bigger bonuses are in the cards, too.</li></ul>Christmas came early for investment bankers.The biggest banks on Wall Street reported a huge boost in dealmaking fees this quarter after a two-year slump. Investment bank revenue surged 30% on average at <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-3q-results-dealmaking-trading-resurgence-david-solomon-2024-10">Goldman Sachs</a>, JPMorgan, Bank of America, Citigroup, and Morgan Stanley, according to Wells Fargo analyst Mike Mayo."We continue to believe we are in the early stages of a multiyear capital markets recovery," Morgan Stanley CFO Sharon Yeshaya said during an earnings call. Morgan Stanley's investment bank revenue surged 56% year over year to $1.46 billion, beating Wall Street expectations.Several tailwinds are at play, including tempering inflation and pent-up demand. Debt underwriting has surged as companies rushed to take advantage of <a target="_blank" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">interest rate cuts</a>, S&amp;P Global's Nathan Stovall told BI. After years of recession fears, there is more optimism the Federal Reserve can deliver a <a target="_blank" href="https://www.businessinsider.com/inflation-recession-outlook-prediction-labor-market-job-additions-interest-rates-2024-10">soft landing</a>, he said."You're seeing corporates get more comfortable with the world they're operating in, and they're willing to take more risks, and this leads to more M&amp;A activity, more equity raising, things like that," said Stovall, director of financial institutions research.An incoming flurry of dealmaking could reflect a broader economic recovery, as lower borrowing costs make it easier for companies to fund acquisitions. This past quarter saw several <a target="_blank" href="https://www.businessinsider.com/megamergers-deals-m-a-wall-street-comeback-2024-9">megamergers</a>, such as candy giant Mars buying the maker of Pringles for <a target="_blank" href="https://www.businessinsider.com/mars-buying-pringles-cheez-it-maker-kellanova-36-billion-deal-2024-8">nearly $36 billion</a>. Citi advised Mars and provided $29 billion in debt financing with JPMorgan. Paramount <a target="_blank" href="https://www.businessinsider.com/paramount-global-agrees-to-merge-with-skydance-shari-redstone-2024-7">agreed to merge</a> with David Ellison's Skydance Media. Bank of America is one of Skydance's advisors on the $8 billion deal.Wall Street CEOs, however, are cautious about their enormous wins. <a target="_blank" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">JPMorgan's Jamie Dimon </a>warned on an earnings call that the favorable interest rate conditions "may not prevail or be the ongoing conditions late next year" and of geopolitical turmoil that is "treacherous and getting worse." Goldman Sachs CEO David Solomon noted that while the bank had a healthy backlog, M&amp;A and equity activity is still well below 10-year averages.Risks to this comeback loom large, Mayo wrote in a research note."There's little question to us that activity and revenues reflect a degree of bull market banking," he wrote. "This could end based on potential results and reactions to the upcoming November elections, a stock market decline, and/or unexpected changes in rates (esp. higher)."Portfolio manager Cole Smead described the results as a "head fake." Smead is watching the US's ballooning deficit, concerned it could <a target="_blank" href="https://www.businessinsider.com/fixed-income-investing-tips-national-debt-yield-curve-steepening-treasury-2024-9">push up bond yields</a> and the cost of borrowing, which would discourage dealmaking."This can go on for maybe a quarter or two more, but it is likely going to fall apart long before it ever gets back to anywhere near the numbers of 2021," said the CEO of Smead Capital Management, which owns shares of Bank of America and JPMorgan. "Ultimately, this equity market, with many risks out there, is complacent and doesn't care. The problem is when the chickens come home to roost, this activity will go back to low levels again."<h2 id="d7f46fb6-2aae-4454-a462-5b0acb5aa3e8">The potential 'X-factor'</h2>While the risks are real, this quarter's upswing isn't necessarily a blip. For the five banks, Mayo estimated that capital markets revenue will grow 8% in 2025 to $31.7 billion and another 7% to $34 billion in 2026.There's also what Mayo calls "the X-factor": the $1 trillion-plus of dry powder held by private equity firms.Jon Gray, president and chief operating officer of private equity giant Blackstone, said that anecdotally, the number of confidentiality agreements more than doubled in September compared with a year ago."Now, that doesn't necessarily mean it's going to turn into that volume of deals. But it clearly shows you there is more enthusiasm," Gray said during the firm's earnings call Thursday. "And we know in the private equity world, there's a lot of companies that need to be sold, similar story in real estate."Finance professor David Stowell told BI that while the upcoming US election and overseas conflict pose economic risks, the sponsors can't sit on the sidelines indefinitely."They know that they always have to risk-adjust their investments," said Stowell, an investment banker for two decades before joining the Kellogg School of Management at Northwestern University. "They pretty much have to spend the money, or their kind of business goes away."Stovall acknowledged that one quarter doesn't make a trend but said that economic data, such as job creation numbers, points to a <a target="_blank" href="https://www.businessinsider.com/us-economy-outlook-data-points-to-soft-landing-no-recession-2024-9">soft landing</a>. This bodes well for dealmaking for the rest of the year and 2025."I'm cautiously optimistic," he said. "It is wise to not jump up and down and say things are going to go straight up from here, but I do think it's more encouraging than it's been for a while."For now, some Wall Streeters can already count on larger bonuses, according to compensation consultant Alan Johnson. With debt and equity capital markets thriving, underwriters will get the biggest gains. For debt and equity underwriters, he estimated bonus increases of 25% to 35% and 20% to 30%, respectively. M&amp;A bankers will have to wait longer for a significant boost and should expect maybe a 5% or 10% uptick this season."Traditionally, the sexiest area would be M&amp;A — the pipeline looks really good, but most of the closing fees would be for 2025," said the founder of Johnson Associates. "The headlines around M&amp;A are really going to be next year's story."

Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne 

The far-reaching consequences of the <keyword id="19955291" type="General" weightage="20" keywordseo="COVID-19-pandemic" source="keywords">COVID-19 pandemic</keyword> have reshaped humanity’s future in ways we are only beginning to understand. This global health crisis didn’t just disrupt lives—it also shattered nearly a decade of global health progress, a startling new report by the <keyword id="19902256" type="General" weightage="20" keywordseo="World-Health-Organisation" source="keywords" meta.keywordsubtype="org" meta.entityname="World Health Organisation" meta.hostid="261" meta.entityid="World Health Organisation">World Health Organisation</keyword> (<keyword id="19895006" type="General" weightage="20" keywordseo="WHO" source="keywords" meta.keywordsubtype="org" meta.entityname="WHO" meta.hostid="261" meta.entityid="WHO">WHO</keyword>) has revealed. According to the <keyword id="21164185" type="General" weightage="20" keywordseo="World-Health-Statistics" source="keywords">World Health Statistics</keyword> 2024 report, the <keyword id="8763838" type="General" weightage="20" keywordseo="COVID-19" source="Orion">COVID-19</keyword> pandemic reversed over a decade of advancements in <keyword id="21716169" type="General" weightage="20" keywordseo="global-life-expectancy" source="keywords">global life expectancy</keyword> within a mere two years. From 2019 to 2021, <keyword id="14078" type="General" weightage="100" keywordseo="life-expectancy" source="Orion">life expectancy</keyword> worldwide plummeted by 1.8 years, dropping to 71.4 years. Similarly, global <keyword id="21842689" type="General" weightage="20" keywordseo="healthy-life-expectancy" source="keywords">healthy life expectancy</keyword> decreased by 1.5 years, falling to 61.9 years. The last time both these levels were so low was back in 2012! The report also underscores the uneven impact of the pandemic across different regions. The WHO regions of Southeast Asia and the Americas were hit the hardest, experiencing a decline in life expectancy by approximately three years and a drop in healthy life expectancy by 2.5 years between 2019 and 2021. In stark contrast, the Western Pacific Region saw minimal effects during the same period, with losses of less than 0.1 years in life expectancy and 0.2 years in healthy life expectancy. Furthermore, COVID-19 swiftly became a leading cause of death, ranking as the third highest globally in 2020 and the second in 2021, claiming nearly 13 million lives during this period. The latest data indicates that, except in the African and Western Pacific regions, COVID-19 was among the top five causes of death, notably becoming the leading cause of death in the Americas for both years. “There continues to be major progress in global health, with billions of people who are enjoying better health, better access to services, and better protection from health emergencies. But we must remember how fragile progress can be,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “In just two years, the COVID-19 pandemic erased a decade of gains in life expectancy. That's why the new <keyword id="21604359" type="General" weightage="20" keywordseo="pandemic-Agreement" source="keywords">Pandemic Agreement</keyword> is so important: not only to strengthen global health security, but to protect long-term investments in health and promote equity within and between countries.” The new Pandemic Agreement, also known as the ‘Pandemic Accord’ or ‘Pandemic Treaty’, is an international pact currently under negotiation by the 194 member states of the WHO. This accord aims to enhance global readiness and response to pandemics, ensuring the world can effectively prevent, prepare for, and respond to future health crises. The negotiation process is spearheaded by the Intergovernmental Negotiating Body (INB), established by the <keyword id="20294860" type="General" weightage="20" keywordseo="world-health-assembly" source="keywords">World Health Assembly</keyword> in 2021. The INB's goal is to finalise the agreement for adoption at the 2024 World Health Assembly, scheduled from May 27 to June 1 in Geneva, Switzerland. This year's Health Assembly theme, ‘All for Health, Health for All,’ underscores the universal commitment to this crucial initiative.

COVID-19 pandemic caused global life expectancy to fall back to 2012 levels, erasing a decade’s worth of progress: WHO

<keyword id="22215344" type="General" weightage="20" keywordseo="German-businesses" source="keywords">German businesses</keyword> see <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> as a very "stable place" to <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword>, said the country's Ambassador <keyword id="20424857" type="General" weightage="20" keywordseo="philipp-ackermann" source="keywords">Philipp Ackermann</keyword> on Friday, while anticipating increased German <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in India after the India-EU Free <keyword id="19900989" type="General" weightage="20" keywordseo="trade" source="keywords">Trade</keyword> Agreement resolves tax and tariff "impediments". In an interview with ANI, Ackermann also informed about the possible visit of German Chancellor Olaf Scholz in October this year, during which <keyword id="20766370" type="General" weightage="20" keywordseo="business-relations" source="keywords">business relations</keyword> and trade relations would be on the agenda. Ackerman noted that migration will also be a key item for discussion. Speaking on the sidelines of the release of the German India Business Outlook 2024 survey, Ackerman said, "The survey has given us an impression that <keyword id="22215345" type="General" weightage="100" keywordseo="german-business-in-india" source="Orion">German business in India</keyword> is extremely bullish on India. The surveys found that almost 80% of German businesses want to expand their businesses, want to reinvest, build up more factories, and invest more in India." "The German businesses see enormous potential in the Indian market. It sees the very impressive growth rates of India. That makes them very happy. After elections again, they find it a very stable place to invest," the ambassador expressed. Philipp Ackermann termed the long-pending India-EU Free Trade Agreement a "game changer". He mentioned that no specific deadline has been set for signing the Free Trade Agreement, stating that "it will take some time." "There is no deadline because the <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> relationship is very complicated and it has to take time. We have now seen the ninth round, if I'm not mistaken, which just finished a day or two ago. We are in the process of negotiating the German government is very much behind this," he said "We feel that the FTA is very important for our business; it will be even more so if it is a game changer. So I'm very hopeful that at some stage we come to a conclusion, but don't ask me about the timeline. I think it will take some time," he added. When asked what impact the FTA will have on the Indo-German trade relationship, the envoy said that tariffs and taxes are one of the reasons German companies say might impede investment, and with an FTA, the tariff side will be solved. "For many German companies, an FTA will bring a clear solution and regulation on tariffs and trade and it would be a great gift for their business," he added. The proposed trade deal with the EU is one of the most complex FTAs being negotiated by India. There has been no breakthrough despite several rounds of talks. On June 17, 2022, the European Union relaunched negotiations with India for a Free Trade Agreement, and launched separate negotiations for an Investment Protection Agreement and an Agreement on Geographical Indications (GIs). The mandator also gave details about the possible visit of German chancellor Olaf Scholz, saying the chancellor will travel to Delhi and parts of his cabinet, including the German ministers, will accompany him and sit down with their Indian counterparts to develop coming programmes and projects and the roadmap. "So we expect that to happen in the second half of October sometime. The dates have not been finalised yet. But it is a very, very good moment to sit down, compare notes, and say, Where is this apprenticeship going?" he added. "We will try to develop the future of this partnership during these consultations. Other items on the agenda are certainly business relations and trade relations, but also migration, which is a very interesting issue within and certainly does politics as usual," he said.

German businesses see India as a stable place to invest, says German ambassador Philipp Ackermann

<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

New Delhi: Realty firm <keyword id="20847750" type="General" weightage="20" keywordseo="house-of-hiranandani" source="keywords">House of Hiranandani</keyword> will invest Rs 3,200 crore to redevelop five housing societies in <keyword id="19895282" type="General" weightage="20" keywordseo="mumbai" source="keywords">Mumbai</keyword>. The company has presence in <keyword id="19932542" type="General" weightage="20" keywordseo="mumbai-metropolitan-region" source="keywords">Mumbai Metropolitan Region</keyword> (MMR), Bengaluru, Hyderabad and Chennai. The company said it has signed additional redevelopment projects of 17 lakh square feet with a GDV (Gross Development Value) of Rs 5,000 crore. "The company has entered into registered development agreements with five major housing societies in Chembur and plans to invest Rs 3,200 crore," House of Hiranandani said in a statement. These five housing societies in Chembur comprising 459 tenants include redevelopment of Maitri Park in Chembur East, admeasuring about 9 acres and <keyword id="23131883" type="General" weightage="20" keywordseo="shrinagar-society" source="keywords">Shrinagar Society</keyword> in Chembur West, a cluster of four societies admeasuring about six acres. The company said it is in the process of securing necessary approvals and plans to complete the redevelopment within the next 4-5 years. <keyword id="23140485" type="General" weightage="100" keywordseo="surendra-hiranandani" source="keywords">Surendra Hiranandani</keyword>, Chairman and Managing Director, House of Hiranandani said, "Redevelopment of established societies is a new opportunity that House of Hiranandani would like to explore. Today, Mumbai city has no space for expansion. The older regions of Mumbai are full of old and dilapidated buildings with insufficient infrastructure." "Considering the scarcity of space, redevelopment of these buildings is an ideal solution that can unlock the potential of these spaces, create world class infrastructure and amenities for the residents and also transform the clogged spaces into planned sustainable and liveable communities," he said. House of Hiranandani has an experience of over four decades in the real estate industry. Along with residential, House of Hiranandani has also constructed over 12 mn square feet of area in the commercial sector. Till date, House of Hiranandani has delivered 25,375 homes and developed 45.82 million square feet of residential and commercial real estate.

You Searched For "investment agreements" and got 8 results

Tamil Nadu government inks pact with Microchip, Nokia, PayPal during CM's visit to San Francisco

PTI

Maldives President Muizzu met with PM Modi in Delhi today. Here’s how it went!

BI India Bureau

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

PTI

Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne

Hayley Cuccinello,Emmalyse Br…

COVID-19 pandemic caused global life expectancy to fall back to 2012 levels, erasing a decade’s worth of progress: WHO

Kunal Kambli

German businesses see India as a stable place to invest, says German ambassador Philipp Ackermann

ANI

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

PTI

House of Hiranandani to invest Rs 3,200 crore to redevelop 5 housing societies in Mumbai

PTI

Popular Keywords

Buying Guides