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

Billionaire Gautam <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword>'s group on Tuesday said it will prepay USD 130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. <keyword id="895682" type="General" weightage="20" keywordseo="Adani-Ports" source="Orion">Adani Ports</keyword> and <keyword id="6365230" type="General" weightage="50" keywordseo="special-economic-zone" source="Orion">Special Economic Zone</keyword>, the ports company of the <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword>, had last month floated a tender to buy back as much as USD 130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregate principal amount of USD 412.7 million was validly tendered. "Since the principal amount of notes validly tendered and not validly withdrawn on or prior to the early tender date (of May 8) exceeded the maximum acceptance amount of USD 130 million in aggregate principal amount of the outstanding notes, the company will accept such notes for purchase subject to the proration factor of 34.2649 per cent," it said. Shares of Adani group companies pummelled after <keyword id="9916845" type="General" weightage="50" keywordseo="hindenburg-research" source="Orion">Hindenburg Research</keyword> in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation. The group has denied all allegations. APSEZ said the buyback programme for its 3.375 per cent 2024 maturity dollar-denominated bonds closed on May 8. "The purpose of the tender offer is to partly prepay the company's near-term debt maturities and to convey the comfortable liquidity position," it had said in a statement last month. The company had engaged Barclays Bank, DBS Bank, Emirates NBD Bank PJSC, <keyword id="4370138" type="General" weightage="50" keywordseo="first-abu-dhabi-bank" source="Orion">First Abu Dhabi Bank</keyword>, PJSC, <keyword id="17366045" type="General" weightage="50" keywordseo="mufg-securities-asia-singapore-branch" source="Orion">MUFG Securities Asia Singapore Branch</keyword>, <keyword id="616606" type="General" weightage="50" keywordseo="smbc-nikko-securities" source="Orion">SMBC Nikko Securities</keyword> (Hong Kong) and <keyword id="127691" type="General" weightage="50" keywordseo="standard-chartered-bank" source="Orion">Standard Chartered Bank</keyword> to serve as dealer managers for the offer. In addition to the principal amount, the company will pay accrued interest, in respect of any notes purchased in the tender offer from, and including, the last interest payment date. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/possibility-of-rival-bids-for-go-airlines-it-is-a-hypothetical-question-says-ceo-kaushik-khona/articleshow/100100179.cms">Possibility of rival bids for Go Airlines? It is a hypothetical question: says CEO Kaushik Khona</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/need-to-step-up-quickly-to-install-refining-capacity-anand-mahindra-on-lithium-reserves-discovery-in-rajasthan/articleshow/100099312.cms">Need to step up quickly to install refining capacity: Anand Mahindra on lithium reserves discovery in Rajasthan</a>

Adani group to prepay USD 130 million debt to boost investor confidence

Fintech platform <keyword id="6557529" type="General" weightage="100" keywordseo="kreditbee" source="Orion">KreditBee</keyword> on Friday said it has closed $200 million in its Series D round by raising an additional $100 million in primary funding from <keyword id="312345" type="General" weightage="80" keywordseo="advent-international" source="Orion">Advent International</keyword>, Mitsubishi UFJ Financial Group (<keyword id="380218" type="General" weightage="80" keywordseo="mufg" source="Orion">MUFG</keyword>) and existing investors. Last month, the company raised tranche 1 of Series D from MUFG, Japan's largest bank, along with existing investors Premji Invest, <keyword id="15088227" type="General" weightage="50" keywordseo="motilal-oswal-alternates" source="Orion">Motilal Oswal Alternates</keyword>, NewQuest Capital Partners, and Mirae Asset Venture Investments. KreditBee said the additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products. "This reinforces the confidence in our profitable business model and its long-term sustainability of it. The latest round will help us to achieve our vision of serving over 400 million middle-income population in the country," said Madhusudan Ekambaram, Co-Founder and CEO, KreditBee. The platform aims to cross-asset under management (AUM) of more than $1 billion over the next 6-9 months. "We believe KreditBee's proprietary underwriting tech stack is one of the best in the industry and helps in its ability to identify and underwrite future prime customers at an early stage," said <keyword id="1581364" type="General" weightage="50" keywordseo="shweta-jalan" source="Orion">Shweta Jalan</keyword>, Managing Partner at Advent International. KreditBee currently has 7 million loan customers, out of which over 3 million are active loan customers. "KreditBee has witnessed several credit cycles and has come out stronger each time reflecting the adaptability and resilience of its business model," said Ashish Dave, CEO of Mirae Asset Venture Investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/an-aai-and-two-college-dropouts-home-snacks-biz-sends-shark-tank-judges-into-a-bidding-war/articleshow/96784920.cms">An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-makes-open-offer-to-acquire-26-stake-in-lotus-chocolate/articleshow/96791043.cms">Reliance makes open offer to acquire 26% stake in Lotus Chocolate</a>

KreditBee closes $200 million Series D from Advent International, MUFG Bank, others

<ul><li><keyword id="3037254" type="General" weightage="80" keywordseo="bira-91" source="Orion">Bira 91</keyword> will continue to ramp up its production, bolster supply chain and enhance innovation capabilities. </li><li>The company raised $70 million in Series-D funding round, led by Japanese <keyword id="6359860" type="General" weightage="100" keywordseo="Beer" source="Orion">beer</keyword> company Kirin Holdings Co. </li><li>As the fourth-largest beer company in the country, Bira 91 holds a market share of 5% across key markets in India.</li></ul>Indian craft <keyword id="741084" type="General" weightage="50" keywordseo="Beer-brand" source="Orion">beer brand</keyword> Bira 91 said on Friday that it raised $10 million from Japan’s Mitsubishi UFJ Financial Group (MUFG) Bank. Bira 91 will use this investment to ramp up its production, bolster supply chain and enhance innovation capabilities. “MUFG Bank consistently invested in the India growth story. The Indian beer market is booming, owing to factors such as changing lifestyles of consumers, a growing preference for the alcoholic beverage and rising brand consciousness regarding imported and premium beers,” said Yasuhide Hayashi, executive officer, MUFG Bank. The investment comes after the company recently raised $70 million in Series-D funding round, led by Japanese beer company Kirin Holdings Co. As the fourth-largest beer company in the country, Bira 91 holds a market share of 5% across key markets in India, tripling its pre-Covid numbers. “We are truly excited to partner with MUFG Bank. As Japan’s largest bank with an extremely strong footprint, we believe that this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey,” says Ankur Jain, CEO, Bira 91. With five manufacturing facilities in the country, Bira 91 holds a combined manufacturing footprint of about 2.5 million hectolitres (1 hectolitre = one hundred litres) along with a strong presence across 550 towns and 18 countries worldwide. Craft beer refers to beer made from high quality ingredients and not brewed by a mega brewery corporation. The craft beer industry in India is still young and has a share of 2-3% in the Indian beer market. According to the All India Brewers Association it is expected to grow 20% y-oy, higher than the 5-7% growth in the overall beer market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/how-to/how-to-read-instagram-messages-without-being-seen/articleshow/98535023.cms">How to read Instagram messages without being seen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bengaluru-accounts-for-four-out-of-five-layoffs-by-indian-startups-in-2023-so-far/slidelist/98534987.cms">Bengaluru accounts for four out of five layoffs by Indian companies in 2023</a>

Craft beer brand Bira 91 raises $10 million from Japan’s MUFG Bank

<ul><li><keyword id="11895315" type="UNKNOWN" weightage="60" keywordseo="coinbase" source="Orion">Coinbase</keyword> is expanding into Japan with a partnership with MUFG.</li><li>The partnership with the Japanese banking giant will allow the 40 million account holders at MUFG to buy and sell <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>.</li><li>Coinbase's expansion into Japan will begin with five <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>, including <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>, ether, and litecoin.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/coin-stock">Coinbase</a> is expanding into Japan with the launch of a crypto exchange, enabled in part by a partnership with banking giant Mitsubishi UFJ Financial Group.The 40 million account holders at MUFJ will now have the ability to easily buy and sell cryptocurrencies. The launch will first include five virtual currencies available to trade, including bitcoin, ethereum, litecoin, bitcoin cash, and stellar. "Our partnership with MUFG will help millions of people in Japan access our platform quickly and begin <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> on our exchange by offering MUFG Quick Deposit for all customers in Japan from day one," Coinbase said in <a href="https://blog.coinbase.com/coinbase-launches-in-japan-273cd9d6bd8c">a blog post on Wednesday.</a>Coinbase will face competition from Coincheck and GMO Coin in Japan, which is one of the largest <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> by crypto trading volume. Coinbase received approval to launch its exchange in Japan earlier this year.Coinbase plans to add trading capabilities in other virtual coins over time, as well as "localized versions" of its popular services like advanced trading, Coinbase for Institutions, and more. The Japan launch by Coinbase comes amid a resurgence in the price of several cryptocurrencies following a multi-month sell-off that began the day Coinbase went public. Bitcoin is up about 50% since its recent low of about $30,000, while ether and dogecoin are also showing positive trends in price action.The entire cryptocurrency market value has surged back to just under $2 trillion, according to data from CoinMarketCap.

Coinbase partners with MUFG to launch crypto exchange in Japan

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Kazuhiro Nogi/AFP/Getty ImagesMUFG has been shaking up its US credit sales business.</div></div></div><ul class="summary-list"><li>Mitsubishi UFJ Financial Group has hired hedge-fund executive John Karabelas to run fixed-income sales in the Americas.</li><li>Karabelas, a 25-year vet with long stints at Deutsche Bank and BNP Paribas, will join as head of Institutional Investor Sales in the Americas in January.</li><li>His hire is the latest in a string of senior management changes in the Japanese bank's US credit sales business.</li></ul>Mitsubishi UFJ Financial Group has hired a hedge-fund executive to run credit sales as it continues to shake up its fixed income business in the US.John Karabelas, president of the credit hedge-fund Kildonan Castle Asset Management, will join MUFG in January as the head of Institutional Investor Sales in the Americas, a bank spokeswoman confirmed. Karabelas is a 25-year industry vet who spent 15 years in credit sales at Deutsche Bank before leaving in 2010 to run North American credit sales at BNP Paribas. He left BNP for Kildonan in 2017. He'll report to Bill Mansfield, CEO of MUFG Securities Americas, and Paul Lavelle, global head of Institutional Investor Sales at MUFG."MUFG is committed to building the momentum we've already established across our institutional investor client base, and John's depth and breadth of experience will be a natural fit into that plan," Mansfield said in a statement to Business Insider.MUFG is a giant in Japan, but its investment bank is a smaller player in the US market - it doesn't crack the top-10 on the industry league tables.But the bank has been quietly overhauling its fixed-income management team, a primary revenue generator in its US operation, as it looks to capture more business in the US market. The hiring of Karabelas comes on the heels of a number of <a href="https://news.efinancialcareers.com/hk-en/326953/mufg-redundancies">senior departures in credit sales a little over a month ago</a> - Thomas Daly, David Nixon, John Cahil, and Tim Cavanaugh left in late October, according to FINRA records. The firm additionally hired Dwyer Fleming, formerly <a href="https://www.linkedin.com/in/dwyer-fleming-05b7415/">an interest rate sales exec</a> in hedge fund sales at Deutsche Bank, earlier this year, <a href="https://brokercheck.finra.org/individual/summary/2804608">FINRA records show</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/gary-shilling-legendary-economist-trade-war-outlook-says-us-will-win-2018-10">The legendary economist who predicted the housing crisis says the US will win the trade war</a></h3> <div> </div> </div>

MUFG has hired a hedge-fund executive to run credit sales as the Japanese bank shakes up its US business

<ul class="summary-list"><li>A judge ordered X Holdings to unseal its list of shareholders, revealing notable investors.</li><li>The list includes Andreessen Horowitz, Fidelity, Sequoia, Saudi Prince Alwaleed, and Diddy.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musks-x-sued-120-million-worth-of-server-parts-2024-8">Elon Musk's X</a> just had to give up the names of all its investors — and there are a couple of notable names on the list.A federal judge ordered the social media platform to unseal the list of shareholders of X Holdings on Tuesday, after a journalism nonprofit filed a motion to view the records in July.The document was first made public by <a target="_blank" class="" href="https://www.washingtonpost.com/technology/2024/08/21/elon-musk-x-investors/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNzI0MjEyODAwLCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNzI1NTk1MTk5LCJpYXQiOjE3MjQyMTI4MDAsImp0aSI6IjQyODc4ZTE0LTlhZWItNDk1OC04NmYzLTYwMmRiMzU4MGQ4NCIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS90ZWNobm9sb2d5LzIwMjQvMDgvMjEvZWxvbi1tdXNrLXgtaW52ZXN0b3JzLyJ9.lZFrV9ZdSUuRFkqRWjibbu2pcfTcjXGx2lF7dEe6Qhk">The Washington Post.</a>The <a target="_blank" class="" href="https://www.washingtonpost.com/documents/2a00ce74-6d58-4f8e-bc2c-1bb820ee4705.pdf?itid=lk_inline_manual_10">document</a> includes some of Silicon Valley's biggest names like Andreessen Horowitz, Fidelity, Sequoia, alongside asset managers including Fidelity. Wealthy individuals also invested, including Saudi Prince Alwaleed bin Talal al Saud, American rapper Sean "Diddy" Combs, and X's founder and former CEO Jack Dorsey.X did not immediately respond to Business Insider's request for comment sent outside regular working hours.<a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-twitter">Musk bought X</a>, the public company then known as Twitter, for $44 billion in late 2022. Musk also funded his purchase by <a target="_blank" class="" href="https://www.businessinsider.com/what-elon-musk-twitter-deal-means-for-wall-street-banks-financing-2022-10">borrowing from a list of banks</a> including Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen.X first filed the list of investors as part of a <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-legal-list-tesla-x-spacex-court-cases-investigations">lawsuit brought on by former Twitter employees last year.</a> The employees alleged that Musk failed to pay them a certain amount of money after he took over the company.Attorneys for the nonprofit Reporters Committee for Freedom of the Press filed a <a target="_blank" href="https://www.rcfp.org/litigation/anoke-v-x-corp/">motion</a> in July asking the court to unseal the records, on behalf of independent technology journalist Jacob Silverman.The nonprofit said that revealing the list of investors was in the public's best interest since X is an important platform for discourse.Representatives of X disputed the motion, writing in a court document: "Individuals and entities investing and taking an ownership interest in a private corporation such as X Holdings expect that such information will remain private." Lawyers also said that the disclosure could undermine X's competitive position and give its prospective partners an unfair advantage.X, which makes money from premium subscriptions and advertising, saw its <a target="_blank" class="" href="https://www.businessinsider.com/ad-group-to-suspend-garm-initiative-following-elon-musk-lawsuit-2024-8">advertising revenue plummet</a> after Musk's takeover, with large advertisers among those who fled the platform after the company changed owners.Musk also fired hordes of sales and safety staff and brought back previously-banned accounts.

A court filing unmasked the 100 investors in Elon Musk's X: a Saudi prince, major VCs, Diddy, and Jack Dorsey

B9 Beverages Ltd, Bira 91's parent company, on Wednesday said it is raising $25 million in new funding from <keyword id="20841250" type="General" weightage="20" keywordseo="tiger-pacific-capital" source="keywords">Tiger Pacific Capital</keyword>, an Asia-focused fund headquartered in New York and Hong Kong. The new investment is part of a $50 million round raised by the company, with participation from its existing investor, <keyword id="20635955" type="General" weightage="20" keywordseo="kirin-holdings" source="keywords">Kirin Holdings</keyword> of Japan, and Tiger Pacific Capital from New York, it said in a statement. "As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company's balance sheet considerably," said <keyword id="20841253" type="General" weightage="20" keywordseo="ankur-jain" source="keywords">Ankur Jain</keyword>, Founder and CEO, Bira 91. With this capital, "we will expand our manufacturing footprint to new regions, including Uttar Pradesh," he added. The company has six large-scale manufacturing plants in the country. Bira 91 is now the fourth largest beer company in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, behind only multinationals like Heineken, AB-Inbev and Carlsberg, and has experienced strong double-digit growth since its inception 9 years ago. The company also owns the country's largest beer-focused pub chain, The Beer Cafe. "We are excited to partner with emerging companies in India, especially brands like Bira 91 with a unique understanding of the new Indian consumer, and a strong local manufacturing footprint," said <keyword id="20847970" type="General" weightage="20" keywordseo="run-ye" source="keywords">Run Ye</keyword>, Founder of Tiger Pacific Capital. Founded in 2015, B9 Beverages is backed by leading investors including Japan's leading beer company, Kirin Holdings, Japan's largest bank, MUFG Bank, Sofina of Belgium, and Peak XV Partners (formerly Sequoia India). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a>

Bira 91 raises $25 mn to expand manufacturing footprint

<ul class="summary-list"><li>The conflict with Hamas that began October 7 will have widespread financial implications for Israel. </li><li>A top Israeli economist said a recession in Israel is likely, and Fitch put the country's credit rating on watch for downgrade. </li></ul>Tensions in the Middle East have continued to escalate since the Palestinian militant group Hamas killed 1,400 people in its attack on Israel on October 7. <a href="https://www.businessinsider.com/biden-warns-israel-dont-make-same-mistakes-sept-11-hamas-2023-10?_gl=1*bmvcfe*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY5NzcyNzAzMS4xMzY4LjEuMTY5NzcyNzA0Mi40OS4wLjA.">President Joe Biden visited Tel Aviv</a> on Wednesday, Israeli ground troops have started to take positions near the Gaza border, and military strategists have forecasted a looming, extended conflict. Prime Minister Benjamin Netanyahu <a href="https://markets.businessinsider.com/news/etf/israel-hamas-war-day-13---netanyahu-s-long-war-alert-egypt-opens-aid-path-to-gaza-biden-considers-10b-support-1032721069">cautioned</a> on Thursday that the conflict will be a "long war."<h3>Recession risk</h3>The near- and long-term impact on Israel's economy remains in question, especially as more than a quarter-million reservists from Israel's Defense Forces have left their jobs to prepare for war. The majority of them are under 40 years old, and comprise a key demographic in the country's technology sector, which accounts for about a fifth of Israel's gross domestic product.Economist Joseph Zeira, a former professor at Hebrew University and the author of "The Israeli Economy: A Story of Success and Costs," said the economic impact of something like this is "immediate."Zeira told <a href="https://www.cnbc.com/2023/10/19/israel-recession-likely-as-war-drags-on-economist-says.html" target="_blank" rel="noopener">told CNBC</a> that a recession appears almost certain as the country gears up for war, tourism drops, and productivity declines as a result of large-scale mobilization. <h3>Credit risk</h3>On Tuesday, Fitch Ratings placed Israel's sovereign debt rating on watch for downgrade, pointing to the potential for the conflict to expand with multiple actors, such as other militant groups and Iran, as well as the risk of large-scale military confrontations. The consequences of such an escalation, the agency said, could result in a negative ratings action, and a sizable financial drain stemming from higher spending and lower tax collection. "While not our base case, such large-scale escalation, in addition to human loss, could result in significant additional military spending, destruction of infrastructure, sustained change in consumer and investment sentiment and thus lead to a large deterioration of Israel's credit metrics," Fitch said in a statement. <h3>Currency risk</h3>On October 9, two days after Hamas' initial attack, the Bank of Israel sold off $30 billion in foreign reserves in a bid to prevent its currency from falling against the dollar.Yet in less than two weeks, <a href="https://markets.businessinsider.com/news/currencies/israel-hamas-war-shekel-dollar-currency-central-bank-foreign-reserves-2023-10">Israel's shekel has weakened about 4.8%</a> to hit multi-year lows against the dollar. Traders have been ramping up <a href="https://markets.businessinsider.com/news/currencies/israel-hamas-war-palestine-shekel-dollar-dominance-currencies-dedollarization-investing-2023-10">short bets against the currency</a> to the highest level since January 2022, according to Deutsche Bank.The central bank, then, is facing the dual pressures of stimulating the economy by slashing interest rates, while also needing to prop up its currency. <a href="https://www.ft.com/content/dfbcb4d3-bbf9-42f1-9303-f92b01536855" target="_blank" rel="noopener">The Financial Times</a> reported Tuesday that Bank of Israel deputy governor Andrew Abir said policymakers would prioritize stabilizing the currency over growth."We need to see a de-escalation in the conflict or a surprise rate hike from the central bank for the currency to rise," currency analyst Lee Hardman of MUFG Bank said, per the FT.

From a likely recession to a weakening shekel, here's how the conflict with Hamas is impacting Israel's economy and markets

<ul><li><keyword id="11085892" type="General" weightage="20" keywordseo="AdaniConneX" source="Orion">AdaniConneX</keyword> ties up a debt facility of $213 mn to finance construction of two data centres in India. </li><li>India’s data centre capacity in India is expected to double from an estimated 870 MW in FY22 to 1700-1800 MW by FY25. </li><li>This facility will help the company accelerate the construction of data centres, given that demand is showing a steady uptick. </li></ul>In a move that will accelerate plans of delivering critical digital infrastructure for building local data centres, AdaniConneX, a 50:50 joint venture between Adani Enterprises (AEL) and EdgeConneX (ECX), has executed a $213 mn senior debt facility with participation from international banks. The debt will finance its under-construction data centre portfolio of 67 MW in Noida and Chennai. India is one of the fastest-growing data centre markets in the world, and as per CRISIL estimates the data centre capacity in India is expected to double from an estimated 870 MW in FY22 to 1700-1800 MW by FY25. AdaniConneX achieved financial closure through its maiden construction facility by entering into Financing Framework, raising USD 213 mn for its under-construction data centre asset portfolio. The current facility will finance two data centres with an aggregate capacity of 67 MW that includes ‘Chennai 1’ campus with Phase 1 of 17 MW and Noida campus of 50 MW. To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Center platform, enabled by hyperscale to hyperlocal data centre investments across the country. The platform infrastructure financing was finalised through the framework agreement with international lenders, which will institutionalise the development agenda for AdaniConneX. ING Bank N.V., Mizuho Bank, Ltd., MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility. The access to the wide pool of liquidity strengthens AdaniConneX strategy to fast-track the implementation of the under-construction asset portfolio in sync with accelerating demand. “The construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for us to deliver on-time a reliable and sustainable data centre capacity of 1 GW by 2030,” said Mr Jeyakumar Janakaraj, CEO of AdaniConneX. “The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionise the digital infrastructure in India.” “We are committed to delivering a pan-India Data Center platform,” said Anil Sardana, Director of AdaniConneX (Adani representative on the board). The facility shall encourage overall implementation philosophy to power the digital infrastructure by delivering clean and long-term renewable energy solutions aiming toward a carbon-neutral footprint. EdgeConneX's extensive data centre expertise and industry-leading technology solutions combined with Adani’s expertise in full-stack energy management, renewable power, and project development are set to transform the sector. AdaaniConneX, is a 50:50 JV between Adani Enterprises and EdgeConneX, was founded with a vision to redefine the data centre landscape in India. AdaniConneX envisions to build an environmentally and socially conscious 1GW data centre infrastructure platform by leveraging the complementary capacity of the Adani Group, India’s largest infrastructure player, and EdgeConneX, one of the largest private data centre operators. In a land of innovators, data centre solutions need to be ahead to accelerate ambition and AdaniConneX mirrors this vision of Digital India.

AdaniConneX raises $213 mn to build two data centers in Noida & Chennai

<ul class="summary-list"><li>The 116-page document connects some of the biggest names on Wall Street to FTX's bankruptcy case. </li><li>The list doesn't disclose the size or kind of debts the collapsed crypto firm might owe the banks, Bloomberg reported. </li></ul>Newly released documents from FTX's bankruptcy case name Goldman Sachs, JP Morgan Chase, Wells Fargo and other Wall Street giants as possible creditors the cryptocurrency exchange might owe money following its collapse. The <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rxaqAoy1_nPs/v0" target="_blank" rel="noopener">document</a> filed on Wednesday is made up of 116 pages that list thousands of entries and redacted names of individuals, all of whom could be possible creditors to the exchange, Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-01-26/goldman-jpmorgan-among-ftx-creditors-disclosed-in-bankruptcy">reported</a>. Other elite financial institutions on the list were Deutsche Bank, HSBC and MUFG Bank. The filing is standard procedure in bankruptcy processes to broadly alert as many actual and potential stakeholders who could pop up in FTX's records for any reason, according to a Thursday <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MTQ0MDU1Ng==&amp;id2=-1" target="_blank" rel="noopener">statement</a> filed by the crypto exchange's lawyers to the court. "As a result, inclusion of a name on the Matrix does not necessarily indicate that the party is a creditor of any of the Debtors," FTX's lawyers <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MTQ0MDU1Ng==&amp;id2=-1" target="_blank" rel="noopener">wrote</a>. Still, the latest development shows some sort of link between Wall Street's biggest banks and the now-collapsed crypto empire built by Sam Bankman-Fried. Both Goldman Sachs and Deutsche Bank have distanced themselves from the crypto exchange so far, <a href="https://www.bloomberg.com/news/articles/2023-01-26/goldman-jpmorgan-among-ftx-creditors-disclosed-in-bankruptcy">according to Bloomberg</a><a href="https://www.bloomberg.com/news/articles/2023-01-26/goldman-jpmorgan-among-ftx-creditors-disclosed-in-bankruptcy" target="_blank" rel="noopener">,</a> with a representative from the former saying it had not filed a claim against FTX and the latter saying the German investment bank had no credit exposure to it. "Goldman Sachs has not filed a claim against the debtors," a spokesperson for the bank told Bloomberg. "This type of creditor matrix is prepared by the debtors for the purpose of providing notice to interested parties in a bankruptcy proceeding and is not necessarily evidence of a creditor relationship."Meta, Apple, and Netflix were among the big names in the tech industry included in the list of possible creditors, as were some of the major commercial airlines, including United, American, Southwest and Spirit, the filing showed.FTX <a href="https://markets.businessinsider.com/news/currencies/ftx-crypto-recovers-5-billion-assets-creditors-exchange-bankruptcy-sbf-2023-1">recovered</a> more than $5 billion in assets early January that could be used to repay creditors, a figure higher than the initial <a href="https://markets.businessinsider.com/news/currencies/ftx-exchange-crypto-1-billion-cash-bankruptcy-creditors-bankman-fried-2022-12?utm_medium=ingest&amp;utm_source=markets">$1 billion-plus assets</a> executives said they had tracked down in December. When the failed cr yto exchange went bust in November, a bankruptcy filing showed that it owed nearly $3 billion to 50 of its largest creditors — all of whom were customers. But the total number of creditors FTX is <a href="https://markets.businessinsider.com/news/currencies/bankrupt-crypto-exchange-ftx-top-50-creditors-3-billion-sbf-2022-11?utm_medium=ingest&amp;utm_source=markets">seen</a> to have tops over a million.

Goldman Sachs, JPMorgan, Wells Fargo are among Wall Street giants named as possible FTX creditors

<keyword id="46431" type="General" weightage="100" keywordseo="india-inc" source="Orion">India Inc</keyword> recorded 2,007 deals worth $127 billion last year, a 6 per cent decrease in deal volumes over 2021, despite the global macroeconomic conditions, a report showed on Friday. The year also recorded 11 multi-billion-dollar deals amounting to $82.5 billion and 97 deals valued between $100 and $999 million, amounting to $26.2 billion, according to <keyword id="10410446" type="General" weightage="80" keywordseo="grant-thornton-bharat" source="Orion">Grant Thornton Bharat</keyword>'s annual deal tracker report. The year 2022 also saw a 47 per cent increase in the values on the back of a few marquees deals that no other year witnessed. "It is worth noting that even against the global recession outlook, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> has been faring well. However, deal activity witnessed two different phases, as the second half did not see the highs of the first half," said <keyword id="53115" type="General" weightage="50" keywordseo="shanthi" source="Orion">Shanthi</keyword> Vijetha, Partner-Growth at Grant Thornton Bharat. The Indian mergers and acquisitions (M&amp;A) space saw 477 deals worth $91.4 billion in 2022, a 200 per cent increase compared to 2021. Deal values were driven by the <keyword id="45123" type="General" weightage="80" keywordseo="hdfc" source="Orion">HDFC</keyword> and HDFC Bank merger ($40 billion), which was the biggest deal ever in Indian history. However, barring this deal, the year witnessed a significant increase in values showing the positive outlook of the Indian markets. The start-up and IT sectors dominated the space with 44 per cent of total volumes, while the banking and manufacturing sectors led the values, said the report. "Domestic and outbound M&amp;A continued to see momentum on the back of a resilient domestic economy, whereas private equity (PE) investments and inbound M&amp;A slowed down due to funding winter and global uncertainty," said Vijetha. The PE space saw 1,530 deals worth $35.4 billion, including four deals in the billion-dollar category and 66 deals valued between $100 million and $999 million, accounting for 63 per cent of total PE deal values with only 5 per cent of deal volumes. The start-up space attracted the most investment ($7.4 billion across 991 deals) with a slight decline of 8 per cent in volumes, compared to the 34 per cent decline in investments indicating lower ticket size investments, followed by e-commerce, which pulled in $6.6 billion and declined by 56 per cent in investments. Bengaluru topped the charts in volumes as most companies were born there, and Mumbai topped in values and accounted for 27 per cent of total values. The year witnessed the second-highest number of initial public offerings (IPO) listings in the last 11 years. However, this translated into 40 IPO listings raising $8.3 billion, a 38 per cent decrease in volumes and a 53 per cent decrease in values, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kreditbee-closes-200-million-series-d-from-advent-international-mufg-bank-others/articleshow/96791309.cms">KreditBee closes $200 million Series D from Advent International, MUFG Bank, others</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lt-rvnl-ril-and-other-stocks-in-focus-on-friday/articleshow/96780357.cms">Sensex, Nifty50 end the first week of 2023 in the red – IT, financial services amongst top losers</a>

India Inc logs 2,007 deals worth $127 bn last year, 6% down from 2021: Grant Thornton

German luxury carmaker <keyword id="25952" type="General" weightage="100" keywordseo="mercedes-benz" source="Orion">Mercedes-Benz</keyword> will launch ten new vehicles in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in 2023 with majority in the over ₹1-crore price category, which grew over 69 per cent last year, according to a senior company official. <keyword id="184004" type="General" weightage="20" keywordseo="mercedes-benz-india" source="Orion">Mercedes-Benz India</keyword>, which posted record sales in 2022 at 15,822 units, had sold over 3,500 cars that are priced above Rs 1 crore last year. In 2021, Mercedes-Benz India sold 11,242 units. Its previous best sales were achieved in 2018 at 15,583 units. The company is looking at an overall double-digit sales growth this year, and as part of the drive it launched its 'AMG E53 4MATIC+ Cabriolet' model priced at Rs 1.3 crore on Friday. "The biggest growth for us in the last year has come from the TEV (top-end vehicle) segment, where we have grown by 69 per cent," newly appointed Managing Director &amp; CEO of Mercedes-Benz India Santosh <keyword id="25076" type="General" weightage="50" keywordseo="iyer" source="Orion">Iyer</keyword> told PTI. The company's top-end vehicles include S-Class Maybach, GLS Maybach, top-end AMGs, S-Class and GLS SUV, which are priced over Rs 1 crore (ex-showroom). Iyer, who is the first Indian to be elevated to lead Mercedes-Benz in the country, said the share of its TEV has increased to 22 per cent of the company's total sales, up from 12 per cent in the pre-Covid year of 2018. He further said bringing more products into the TEV segment will be a part of the company's "six pillars" strategy for 2023. "The first pillar is to think and act like a luxury brand and for that we will be introducing 10 desirable cars in 2023, the majority of them will be in the TEV segment...," he said. Expanding the TEV base is a key part of the strategy, Iyer said, adding, "we have grown at 69 per cent and we will be launching more products there. We have sold more than 3,500 cars only in TEVs in 2022... that's a lot of cars in the Rs 1-crore-plus segment". Also, he said the company will be putting a lot of emphasis on its online store in order to enhance the omnichannel experience for its customers. "We sold 2,000 cars through our online platform last year... We are making it even better for customers today. Earlier, they were not able to see cars which will be produced after three months. With the enhancements in our online store, they can actually see the visibility of cars for up to one year," Iyer said. Mercedes-Benz India will also take the lead in electric vehicles, and is looking at more EVs to enhance its product portfolio to add to the existing models EQC, EQB, EQS 53 AMG and EQS 580, he added. <keyword id="49089" type="General" weightage="50" keywordseo="sustainability" source="Orion">Sustainability</keyword> is also a key theme of the 2023 strategy, Iyer said, adding, "By the end of last year, we achieved 100 per cent green power for our Chakan facility... we will not stop there. We are also committing that in 2023 we will go 100 per cent paperless." He further said, "for the first time we are extending the responsibility to our franchisee partner network. We are saying that one-third of our network will operate on sustainable power and the full network will go green by 2025." The company is also increasing its supply chain resilience as it increases production which is already "at two shifts and in a couple of areas we are running three shifts". In terms of the growth outlook for 2023, Iyer said, "We are looking at profitable and resilient growth. We are aiming for double-digit growth. A sustained growth helps us to also do more investment and therefore it's important that we focus on the profitability and resilient growth for the market." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kreditbee-closes-200-million-series-d-from-advent-international-mufg-bank-others/articleshow/96791309.cms">KreditBee closes $200 million Series D from Advent International, MUFG Bank, others</a>

You Searched For "mufg" and got 12 results

Adani group to prepay USD 130 million debt to boost investor confidence

PTI

KreditBee closes $200 million Series D from Advent International, MUFG Bank, others

IANS

Craft beer brand Bira 91 raises $10 million from Japan’s MUFG Bank

Anagh Pal

Coinbase partners with MUFG to launch crypto exchange in Japan

Matthew Fox

MUFG has hired a hedge-fund executive to run credit sales as the Japanese bank shakes up its US business

Alex Morrell

A court filing unmasked the 100 investors in Elon Musk's X: a Saudi prince, major VCs, Diddy, and Jack Dorsey

Shubhangi Goel

Bira 91 raises $25 mn to expand manufacturing footprint

IANS

From a likely recession to a weakening shekel, here's how the conflict with Hamas is impacting Israel's economy and markets

Phil Rosen

AdaniConneX raises $213 mn to build two data centers in Noida & Chennai

BI India Bureau

Goldman Sachs, JPMorgan, Wells Fargo are among Wall Street giants named as possible FTX creditors

Zinya Salfiti

India Inc logs 2,007 deals worth $127 bn last year, 6% down from 2021: Grant Thornton

IANS

Mercedes-Benz will launch 10 new vehicles in India in 2023: Santosh Iyer

PTI

Popular Keywords

Buying Guides