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<ul><li><keyword id="2970390" type="PERSON" weightage="20" keywordseo="MoEngage">MoEngage</keyword> partners with <keyword id="4815866" type="COMPANY" weightage="20" keywordseo="Merkle-Sokrati">Merkle Sokrati</keyword>. </li><li>MoEngage will combine its insights-led customer engagement platform with Merkle Sokrati’s enterprise delivery services to offer solutions to clients across the Asia Pacific (APAC) region.</li></ul>MoEngage has inked a strategic partnership deal with Merkle Sokrati, India’s leading data-driven performance marketing agency from the house of <keyword id="10032656" type="COMPANY" weightage="20" keywordseo="dentsu-international">dentsu international</keyword>. Under the deal, MoEngage will combine its insights-led customer engagement platform with Merkle Sokrati’s enterprise delivery services to offer solutions to clients across the Asia Pacific (APAC) region. Today’s mobile-first customers expect personalised experiences. This requires brands to build a 360-degree view of their users, analyse the data, and deliver the right message at the right time through the right channels. Marketing and product teams often struggle to meet such customer expectations as most of the available tools lack one or more of the requisite capabilities; at other times, the solutions offered are not implemented to the best of their potential. The combined value package offered by the MoEngage-Merkle Sokrati partnership will enable consumer brands to devise and execute a hyper-personalised experience for their users. Speaking on the partnership, Sanjay Kupae, Head - Global Alliances, MoEngage said, “At MoEngage, we want to help consumer brands and enterprises with the technology and know-how that helps them build agility into their marketing strategies and optimise their engagement costs with reduced time-to-market. Our partnership with Merkle Sokrati is a significant step in this direction. Merkle’s understanding of strategic digital interactions and expertise in enterprise solution delivery is uniquely complementary to MoEngage’s data-driven and AI-enabled marketing automation platform. We believe that both of us make a truly customer-obsessed team.” “With the added capabilities of Merkle’s expert teams and their close-to-client locations, we will be able to drive far more business impact for our clients in India, South East Asia and Australia,” he further added. Sampath Rengachari, Chief Business Officer - Martech, Merkle Sokrati said, "It's exciting news to partner with MoEngage in today's times where hyper-personalised engagement with audiences has become imperative. One of the earliest mobile-first customer engagement platforms, MoEngage offers exceptional marketing automation for rich user experiences. Coupling this with our more than a decade long focus on building audience-first and data-driven marketing strategies will surely be beneficial for our clients across verticals and industries. We all have seen trying times for consumers and brands alike, and I'm happy to see synergies being developed here in our ecosystem to help businesses bounce back from the year that's been.”

MoEngage, Merkle Sokrati ink strategic alliance for APAC

Ahmedabad, Deepening its <keyword id="116175" type="ORGANIZATION" weightage="20" keywordseo="strategic-alliance">strategic alliance</keyword> in India's sustainable energy space, French energy major Total proposes to acquire 20% minority interest in Adani Green Energy Ltd. (AGEL). The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL. The transaction marks the deepening partnership between the <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> and Total -- in the transition and green energy fields in India. The investment in AGEL is another step in the strategic alliance between Adani Group and Total, across various businesses and companies of the Adani Group, covering investments in LNG terminals, gas utility business, and renewable assets across India. In 2018, Total and Adani embarked on the energy partnership with investment by Total in <keyword id="5214668" type="COMPANY" weightage="20" keywordseo="Adani-Gas-Limited">Adani Gas Limited</keyword>, city gas distribution business, associated LNG terminal business and gas marketing business. Total acquired 37.4% stake in Adani Gas Limited and 50 per cent stake in Dhamra LNG project. During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider sustainable energy space. Total and Adani agreed the acquisition of a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $ 2.5 Billion. India has set a policy target of setting up 450 GW of renewable power capacity by 2030. In this context, Adani Group and Total have joined hands to develop green power sources at affordable prices and to deliver transformational energy solutions. AGEL, started in 2015 with the world's largest single location solar power project located in Kamuthi, Tamil Nadu (648 MW) has come a long way to be ranked as the number one global solar power generation asset developer by Mercom Capital. As on date, AGEL has over 14.6 GW of contracted <keyword id="4400882" type="PERSON" weightage="20" keywordseo="renewable-capacity">renewable capacity</keyword>, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025. Speaking on the occasion, Adani Group Chairman, Gautam Adani, said, "We are delighted to deepen our strategic alliance with Total, a global energy major, and welcome them as a significant shareholder in <keyword id="4543956" type="COMPANY" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword>. We have a shared vision of developing renewable power at affordable prices to enable a sustainable energy transformation in India. We look forward to working together towards delivering India's vision for 450 GW renewable energy by 2030." Speaking on the occasion, Total CEO, Patrick Pouyanne, said, "This agreement is an important step in our alliance with the Adani Group in India and our common vision and goals with respect to the importance of access to low carbon energy in India. Our entry into AGEL is a major milestone in our strategy in the renewable energy business in India put in place by both parties, which began with our first joint venture 2.3GW of renewable capacity. Given the size of the market, India is the right place to put into action/to deploy our energy transition strategy based on two pillars: renewables and natural gas." The Adani Promoter Group was represented by Clifford Chance and Cyril Amarchand Mangaldas. Total was represented by Latham &amp; Watkins and AZB Partners. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

French energy major Total proposes to acquire 20% stake in Adani Green Energy

Tech giant <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword> and travel technology platform <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> on Thursday announced that they have entered a multi-year strategic alliance to co-develop next generation travel and hospitality products and technologies. OYO will adopt <keyword id="1033762" type="General" weightage="20" keywordseo="Microsoft-Azure" source="Orion">Microsoft Azure</keyword> as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. The solutions will be geared to benefit patrons who operate small and medium hotel and home storefronts. Microsoft has also made a strategic equity investment in OYO. "Combining the power of Azure with the tech and product stack developed by OYO, we are looking forward to accelerating innovation in travel and hospitality," Anant Maheshwari, President, Microsoft <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, said in a statement. As part of this alliance, OYO will develop Smart Room experiences for travellers on the OYO platform, such as premium and customized in-room experiences for its guests. Using Microsoft's Azure IoT, the experience will include self-check-in supported by a digital register of arrivals and departures and self-Know Your Customer (KYC) along with IoT-managed smart locks and virtual assistance. "We are excited to join hands with Microsoft in our constant endeavour to improve business opportunities for the small and independent hotel and home owners, and to redefine experiences for travellers," said Abhinav Sinha, Global COO and Chief Product Officer - OYO Hotels and Homes. "This alliance with Microsoft will accelerate the deployment of our products in the hands of small businesses we work with, allowing us to create even more impact through an integrated technology ecosystem available on the cloud for businesses in the remotest corners of the world," Sinha added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ford-motor-to-stop-manufacturing-cars-in-india-4000-employees-may-lose-jobs/articleshow/86065322.cms">Ford Motor to stop manufacturing cars in India; 4,000 employees may lose jobs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/amazon-vs-future-retail-supreme-court-stays-delhi-high-courts-verdict-enforcement/articleshow/86064426.cms">Amazon Vs Future Retail: Supreme court stays Delhi High Court's verdict enforcement</a>

Microsoft announces strategic investment in OYO

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Volkswagen and Ford could be set to further extend their alliance from January through a new form of strategic partnership, sources tell Business Insider. </li><li>M&amp;A bankers say the deal "makes sense" and could boost the automaker's push into automated driving and provide additional cost efficiencies. </li><li>The auto industry has been squeezed by declining margins from car sales and increased regulatory pressure making partnerships increasingly necessary. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary" target="_blank" rel="noopener">Click here for more BI Prime stories</a>.</li></ul>Less than six months since Volkswagen and Ford announced an auto alliance that could save them billions of dollars, the two auto giants could be set to further merge strategically, sources tell Business Insider.It's another sign that the global auto industry is squeezed with companies looking to take on strategic deals in the face of declining sales for many brands, and an increasing need to automate and electrify their output. The January deal between the two carmakers sought to share efficiencies across production, but importantly across electric vehicles and autonomous driving. A further strategic tie-up between Volkswagen and Ford would "make sense," according to one London-based M&amp;A banker. Automation and cost efficiency synergies were two noted areas of promise, they said.Ford acknowledged the value of its existing partnership with VW but declined to give details of further plans. "Both companies have said we are open to considering additional vehicle programs in the future. The teams will continue working through details," a spokesperson said.<a href="https://www.businessinsider.com/bank-of-america-says-ma-key-to-electric-vehicle-revolution-2019-6?r=US&amp;IR=T">This year has already seen moves from the auto industry to collaborate as margins are squeezed amid a slowdown in car sales and greater regulatory pressure</a>. <a href="https://www.businessinsider.com/fca-starts-nissan-renault-merger-talks-to-spark-electric-vehicles?r=US&amp;IR=T">Fiat Chrysler sought to merge with Nissan and Renault earlier this year</a>, but the deal fell through. <a href="https://www.euronews.com/2019/07/04/bmw-and-daimler-team-up-to-develop-automated-driving-technology">Similarly, news emerged Thursday of a deal between German manufacturers BMW and Daimler to pool developers in a bid to develop autonomous driving technology.</a>At the time of January's announcement, Ford's CEO Jim Hackett said: "I think you're going to see a lot more of what we did with VW," <a href="https://carbuzz.com/news/ford-admits-merger-talks-were-held-with-major-rival">in interview comments to CarBuzz</a>. "There will be winners and losers in our business like you've never seen before. I think you will see companies looking for scale, because some technologies need to scale to be effective."The automakers have been transparent about the nature of their talks, with one source familiar with the matter indicating that discussions were on a good path to expand the current global alliance. Volkswagen declined to comment. This appears to be the general direction of travel for automakers. In May, Bank of America noted: "As cycle/macro pressures potentially escalate in the future, we believe deals and partnerships could emerge, especially as scale in new technology will be critical for OEMs (original equipment manufacturers) to earn returns above the cost of capital over the cycle." The report's authors, John Murphy, Aileen Smith, Yarden Amsalem, and Gwen Yucong Shi, said, "In the interim, the industry could see more unofficial alliances focused on spreading investment cost including, but not limited to: joint ventures, alliances, contract manufacturing agreements, among others."Despite that, there is still some doubt over the viability of a complete merger between the two automakers given the companies' varying geographies, and trust difficulties between the families which run the car manufacturers respectively.Ford is a dominant player in the US market while VW has a greater foothold in China. A further strategic alliance could have major differences in focus and direction.January's tie-up required high levels of trust between the Porche-Piech family which controls VW and the Ford Family, <a href="https://www.ft.com/content/fa5db2ba-5202-11e9-b401-8d9ef1626294">according to Financial Times reporting</a>. Many major automakers are run by families with Fiat Chrysler ultimately controlled by the Agnelli family with these relationships making merger opportunities tricky to navigate.Both companies also have large exposures to Europe which has seen a major decline in car sales in recent years. The combination of regulation, compliance, a shrinking market, and even Brexit, could see margins trimmed further still if companies fail to diversify, according to a March note from Nomura.The current alliance sees the companies share production of medium-sized pickup trucks and city vans along with a broader agreement to cooperate on autonomous driving and electric vehicles. The alliance could see cost efficiencies save over $1 billion by 2023.Get the latest Ford stock price<a href="http://markets.businessinsider.com/stock/f-Quote"> here.</a>

Here's what industry experts are saying about those Ford-Volkswagen rumours

Private carrier <keyword id="6358200" type="CITY" weightage="100" keywordseo="Jet-Airways">Jet Airways</keyword> and its partner Etihad have announced 20-50% special limited period discount on fares across 135 international destinations. 
 “Both economy and business class travellers of Jet Airways and <keyword id="140808" type="COMPANY" weightage="100" keywordseo="Etihad-airways">Etihad Airways</keyword> availing this special offer will enjoy a flat 20-50% discount over regular fares, which is to celebrate the strategic alliance,” a release said. 
 
The 72-hour special fare offer will be available from July 25 to July 27 for travel between September 1 and June 15, 2015 for flights within India and between September 1 and November 30 this year for international flights. 
 
“The special introductory offer is a celebration to mark the formalisation of the strategic alliance between Etihad Airways and Jet Airways,” Jet Airways senior vice-president (commercial) Gaurang Shetty said.

Jet,
Etihad Lure Flyers With 20-50% Discount

<keyword id="20196387" type="General" weightage="20" keywordseo="avaada-group" source="keywords">Avaada Group</keyword> on Monday said it has committed investments worth Rs 40,000 crore for development of 6,000 MW hybrid <keyword id="3418615" type="General" weightage="20" keywordseo="wind-solar" source="Orion">wind-solar</keyword> projects in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword>. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 on January 10-12 at Gandhinagar, a company statement said. According to the statement, <keyword id="20197400" type="General" weightage="20" keywordseo="avaada" source="keywords">Avaada</keyword> Group has signed a Memorandum of Understanding (MoU) with the <keyword id="6370685" type="General" weightage="20" keywordseo="gujarat-government" source="Orion">Gujarat government</keyword>. This <keyword id="116175" type="General" weightage="20" keywordseo="strategic-alliance" source="Orion">strategic alliance</keyword> aims to set up hybrid wind-solar projects with an aggregate 6,000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore. The group's commitment to green initiatives in Gujarat is underscored by substantial investments in the development of a robust renewable energy ecosystem. The <keyword id="6476394" type="General" weightage="20" keywordseo="hybrid-projects" source="Orion">hybrid projects</keyword>, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL (Gujarat Urja Vikas Nigam Ltd), and for captive use of Avaada's green hydrogen/ammonia projects. These projects will substantially reduce the carbon emissions and dependability of conventional power sources. With an estimated annual generation of 17.5 billion units of green electricity, this will lead to a reduction of approximately 16.3 million tonnes of CO2 equivalent emissions annually, contributing significantly to India's green energy supply and powering nearly 12.6 million households. Moreover, it will generate 1,200 direct and indirect jobs, thereby contributing to local and regional economic development. "This strategic partnership signifies our unwavering commitment to foster a robust, clean energy ecosystem. Besides the signing of the new 6 GW capacity in the state, we already have projects of 2 GW capacity that are operational or at various stages of implementation in the state of Gujarat," Vineet Mittal, Chairperson of Avaada Group, said in the statement. Avaada Group is into production of solar modules, renewable power generation, and the development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

Avaada Group to invest Rs 40,000 cr to develop 6 GW hybrid renewable projects in Gujarat

<keyword id="109276" type="COMPANY" weightage="20" keywordseo="Honda-India">Honda India</keyword>’s two wheeler arm, Honda Motorcycle &amp; Scooter India Pvt Ltd (HMSI) has signed a Memorandum of Understanding (MoU) with state-run <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> to provide <keyword id="6354851" type="ORGANIZATION" weightage="20" keywordseo="Retail">retail</keyword> finance to Honda two wheeler buyers. 
	 
	“This alliance is first of its kind in the two-wheeler industry - both for Honda and PNB. Propelled by this partnership with Punjab National Bank, we aim to grow Honda's retail finance significantly in coming months,” said Y S Guleria, Vice President, Sales and Marketing, HMSI. 
	Through this strategic alliance, company aims to tap its target audience in rural areas. “With 40% of branches of PNB in rural areas and additional 24% in semi-urban areas, Honda's strategic alliance with Punjab National Bank will help it make deeper inroads into hinterland”, the company said in a statement. 
	 
	By availing this offer, customers can save up to Rs 10,000 by getting loan finance for 90% of the value of the product at a lower rate of interest of 12.25%. The auto maker claims that the interest rate is the lowest in the industry. 
	 
	Commenting on the partnership, S S Bhatia, General Manager, Retail Assets Division, Punjab National Bank said that the bank has offered two retail finance schemes through this alliance. “Our Bank has 80 specialized retail asset branches at prime locations for financing only retail loans. Honda is synonymous globally with high quality products at reasonable prices…Through customized and convenient finance options, we look forward to partnering Honda in fulfilling the dreams and aspirations of millions in India,” added Bhatia. 
	 
	Reports suggest that HMSI is expecting to clock in a sale of 4.5 million scooters and motorcycles in the current fiscal year, posting a growth of 22% against 3.7 million units sold in the last fiscal year.

Honda India To Woo Customers
Through Easy Retail Loans; Ties-Up With PNB

<keyword id="8144461" type="General" weightage="80" keywordseo="biocon-biologics" source="Orion">Biocon Biologics</keyword>, a subsidiary of <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword>, on Thursday said it will offer around 15 per cent stake to <keyword id="12110332" type="General" weightage="20" keywordseo="serum-institute-life-sciences" source="Orion">Serum Institute Life Sciences</keyword> at a post-money valuation of about USD 4.9 billion. Serum Institute Life Sciences (SILS) is a subsidiary of Serum Institute of India (SII). For offering the 15 per cent stake, Biocon Biologics Ltd (BBL) will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS' upcoming vaccine facility in Pune with commercialisation rights of the SILS vaccine portfolio, including <keyword id="9078985" type="General" weightage="20" keywordseo="COVID-19-vaccines" source="Orion">COVID-19 vaccines</keyword>, for the <keyword id="35145" type="General" weightage="20" keywordseo="global-market" source="Orion">global market</keyword>, Biocon said in a regulatory filing. "Pursuant to the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. <keyword id="383467" type="General" weightage="20" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword> will have a Board seat in Biocon Biologics Limited," it added. In addition to vaccines, the strategic alliance will also develop antibodies targeting several infectious diseases like dengue and HIV. "This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity," Biocon and Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. The two companies will enter Service Level Agreements for manufacturing and distribution of the vaccines and antibodies. "We look forward to complementing each other's capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics," Serum Institute of India CEO Adar Poonawalla said. Biocon Biologics will also establish, at its cost, a vaccine R&amp;D division to support the strategic alliance in developing both vaccines and biologics for communicable diseases. Additionally, wherever possible, it will make available its cell culture and sterile fill and finish capacities for vaccine production under the strategic alliance, the filing said. "Biocon Biologics would issue shares and receive the contemplated rights through a merger with Covidshield Technologies Pvt. Ltd, a wholly owned subsidiary of SILS, on customary closing conditions and receipt of regulatory approvals," it added. Shares of Biocon Ltd closed at Rs 376.90 per scrip on BSE, up 5.47 per cent from its previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/white-oak-capital-gets-sebi-nod-to-enter-mutual-fund-business/articleshow/86263273.cms">Wealth management firm White Oak Capital gets SEBI’s nod to enter mutual fund business</a>

Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion

The lure of growth through diversification is quite tempting for many organizations! 
 
Out of the two options of organic growth and inorganic growth, many organizations go for inorganic growth including mergers and acquisitions or alliances for diversification. 
 
However, as various studies show, a majority of the diversifications are not successful. 
 
According to a recent Harvard Business Review article, the failure rate for mergers and acquisitions (M&amp;A) is between 70% and 90%! Also, research shows that majority of alliances, almost two-third, result in failure. 
 Don’t get me wrong here. I am not suggesting one cannot go to newer businesses or diversification or mergers and acquisitions (M&amp;A) or alliances. One can go, but only after knowing, do one has the <keyword id="1430489" type="UNKNOWN" weightage="20" keywordseo="Core-Competencies">core competencies</keyword> required to be successful in that newer business or can develop or acquire the newer competencies required. 
 
The strategic humour story “Core Competencies: Learning from ‘Pele: Birth of a Legend’ Movie!” highlights that one need to be careful about mindless diversifications. 
 
Here, have a look! 
 
 
 (The article is authored by Prof. Rajesh K. Pillania is judged Best Faculty for Strategic Management in India by ASSOCHAM &amp; Education Post and is ranked jointly #1 for research productivity among management professors in India. He is author of Strategic Humour book, a stand-up comedian on <keyword id="6363690" type="PERSON" weightage="20" keywordseo="strategy">strategy</keyword> and is faculty of Strategy with MDI, Gurgaon.)

Here’s how you can learn about core competencies from the movie ‘Pele: Birth of a Legend’

<ul><li>Western Alliance Bank plunged as much as 62% on Thursday after the FT reported that the bank was exploring a potential sale.</li><li>Western Alliance denied the report and said no sale was under consideration, helping the stock pare its losses to 32%.</li><li>Regional banks have been embroiled in an ongoing crisis after the collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank.</li></ul><a href="https://markets.businessinsider.com/stocks/wal-stock">Western Alliance Bank</a> stock plunged as much as 62% after the <a href="https://www.ft.com/content/bf2bd5af-1e55-4be3-b29d-f5cae9533b29" target="_blank" rel="noopener">Financial Times</a> reported that the company was exploring a potential sale amid the ongoing regional banking crisis.Western Alliance Bank was swift to deny the report, helping its stock rebound and pare losses to 32%. The reported and denied deal talks comes amid a regional banking crisis that has led to three sizable bank failures that had a combined asset base of nearly $550 billion.The downfall of Silicon Valley Bank, Signature Bank, and First Republic Bank has created a crisis of confidence among smaller banks that are at risk to falling deposits and large unrealized losses on their long-term debt holdings.According to the FT report, which cited two people briefed on the matter, Western Alliance Bank "hired advisers to explore its options, the people said, adding that the bank's deliberations were at an early stage and might not come to anything."But Western Alliance Bank said in a statement that the FT story is "categorically false.""The Financial Times' report today that Western Alliance is considering a potential sale of all or part of its business is categorically false in all respects. There is not a single element of the article that is true. Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options," the bank said.The bank blamed short sellers for spreading false narratives about the bank and said it would consider all legal options in response to the article. Western Alliance <a href="https://markets.businessinsider.com/news/stocks/pacwest-first-horizon-stock-price-plunge-regional-banking-crisis-fed-2023-5">isn't the only bank stock that plunged on Thursday.</a> First Horizon <a href="https://markets.businessinsider.com/news/stocks/pacwest-first-horizon-stock-price-plunge-regional-banking-crisis-fed-2023-5">sank 40%</a> after it and TD Bank canceled their $13.4 billion merger deal due to regulatory obstacles, and <a href="https://markets.businessinsider.com/news/stocks/pacwest-first-horizon-stock-price-plunge-regional-banking-crisis-fed-2023-5">PacWest Bank crashed 40%</a> after the company said it was exploring its strategic options, which could include a sale. Not helping matters is the fact that <a href="https://www.businessinsider.com/did-fed-raise-interest-rates-may-pause-hikes-jerome-powell-2023-5?utm_medium=ingest&amp;utm_source=markets" rel="">the Federal Reserve moved forward with its 10th consecutive interest rate hike</a> on Wednesday, increasing the federal funds rate to above 5% for the first time in 16 years.

Western Alliance shares see wild swings as the bank denies report of possible sale that sparked 62% plunge

<ul class="summary-list"><li>China's Xi Jinping has formed close ties with Vladimir Putin's regime in Russia. </li><li>He sees fellow authoritarian Putin as an ally in the bid to roll back US global power. </li></ul>China's President Xi Jinping and Russia's President Vladimir Putin have portrayed their relatonship as an enduring alliance, based on the autocrats' shared ambition to reshape the world and roll back the US' global influence. But the chaos that engulfed Russia last weekend when <a href="https://www.businessinsider.com/russia-general-knew-about-wagner-uprising-plan-bad-putin-nyt-2023-6">Wagner</a> mercenaries turned against the Kremlin has put that alliance to the test, and raised serious doubts about Xi's "no limits' friendship with Putin. In backing Putin in his war in Ukraine, Xi has exposed China to potentially severe damage if Ukraine's European allies decide to cut off their economic ties with China, or if chaos in Russia threatens China's trade ties with the country.If Russia loses against Ukraine, Xi would face global humiliation. However, he has too much to lose if he backs out of the alliance now. Graeme Thompson, an analyst with the Eurasia Group, told Insider that Xi appeared to have underestimated the damage the Ukraine war would inflict on Putin's authority. "It's hard to believe that either man anticipated the grinding war of attrition that has resulted, and historically problems on the battlefield tend to undermine political stability in authoritarian states, which are often more brittle than they appear," he remarked. China's leaders have long drawn lessons from their fellow authoritarians in Moscow — both positive and negative.Xi is likely following developments in Ukraine closely in deciding how to pursue China's long-term ambition of regaining control of Taiwan, another source of long-term tensions with the US, said Thompson. "Not only did Xi likely overestimate the capacity and stability of Putin's regime, but recent events underscore the political risks to authoritarians that get bogged down in costly military interventions – a lesson Xi is unlikely to ignore in his own thinking about Taiwan," he said. <h2>Xi has too much to lose to abandon Putin </h2>But despite the chaos in Russia having disturbed officials in Beijing, <a href="https://www.reuters.com/world/wagner-mutiny-exposes-risks-chinas-deep-russian-ties-2023-06-27/" target="_blank" rel="noopener">according to Reuters,</a> publicly China has sought to downplay the crisis."This is Russia's internal affair," said a Chinese foreign ministry's spokesperson in a <a href="https://www.fmprc.gov.cn/eng/xwfw_665399/s2510_665401/2535_665405/202306/t20230625_11103407.html" target="_blank" rel="noopener">statement after the rebellion, </a>emphasising the long-term strategic alliance of the states. Jonathan Ward, CEO of the Atlas Group, told Insider that Xi's partnership with Putin was so central to China's global strategic ambitions that it was impossible for him to contemplate abandoning it. "The Wagner march towards Moscow may raise concerns in Beijing about Putin's stability and grasp on power, but it is unlikely to diminish the importance that Xi places on partnership with Russia in his long-term and deep-seated strategy of confrontation with the West – a strategy in which Putin's Russia is far and away his most significant partner," he said."Xi's own relationship with Vladimir Putin is one in which he has arguably invested more personal diplomatic capital than any other in the world and the two dictators have articulated a shared vision of world affairs. This investment of personal political capital and broader strategic effort is too substantial to be easily abandoned or lost."If there are further signs Putin's grip on power is weakening, and chaos could engulf Russia, Xi faces a tough choice.If he decides to step in and try and prop up the ailing regime in the Kremlin, he risks Western nations severing economic ties with China, and badly damaging China's already faltering post-COVID recovery. But Ward believes Putin is so important to Xi's global strategic ambitions he would likely take the hit. "If further signs of instability take place in Russia, it is likely that Xi would do what he can to help stabilize the regime, assist Putin, and keep him in power," said Ward. But Thompson pointed to the fact that Xi already appeared to be unwilling to offer Putin his unconditional support in the form of weapons and other military hardware to back the Ukraine invasion.China has also seemed reluctant to finalise <a href="https://www.businessinsider.com/china-flexes-influence-russia-dangles-gas-project-2023-5?r=US&amp;IR=T">a gas pipeline deal that would offer the Kremlin an economic lifeline amid Western sanctions</a>, and according to some experts may even be casting round for a <a href="https://www.businessinsider.com/china-preparing-in-case-putin-is-deposed-analyst-russia-ukraine-2023-6?r=US&amp;IR=T">potential successor to Putin. </a>"It's unlikely that Xi will go out of his way to support Putin's regime if that entails significant risks to China itself. Ultimately, Xi is going to do what's best for Beijing, regardless of events in Moscow," he said.

Xi faces being humiliated by his 'no limits' friendship with Putin. But he can't back out of it now.

BJP is seen in a strategic alliance with NPP, the leader of the Meghalaya Democratic Alliance (MDA). BJP has now nominated Rikman G Momin as the party’s candidate for Tura. The party’s announcement has also said Sanbor Shullai will contest from Shillong. He is a three time MLA from the region. The NPP has nominated Ferlin CA Sangma from Selsella constituency while UDP has said S Nongrum will contest from the seat on behalf of it. Due to the demise of Congress MLA Clement Marak during last year, Selsella assembly by-election polling will also take place along with the <keyword id="4287364" type="PERSON" weightage="20" keywordseo="Lok-Sabha-elections-2019">Lok Sabha Elections 2019</keyword>. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Constituency </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Current MP </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Polling Date </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Counting Date </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">BJP Candidate Name </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Congress Candidate Name </td></tr><tr><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Shillong </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Vacant </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Apr-11 </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">May-23 </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Sanbor Shullai, MLA </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Vincent H Pala </td></tr><tr><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Tura </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Vacant </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Apr-11 </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">May-23 </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Rikman G Momim </td><td style="border-left:solid #000000 0.7457385000000001pt;border-right:solid #000000 0.7457385000000001pt;border-bottom:solid #000000 0.7457385000000001pt;border-top:solid #000000 0.7457385000000001pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Mukul M Sangma </td></tr></tbody></table>

Lok Sabha Elections 2019 candidate list for Meghalaya

Kolkata, Feb 18 () Srei Equipment Finance Ltd hasentered into a pact with state-owned UCO Bank to offer jointloans for purchase of construction, mining, farm and medicalequipment.iQuippo, a Kanoria Foundation initiative, willfacilitate sourcing of loans under this programme, a companystatement said on Tuesday.The partnership will allow Srei Equipment Finance -- awholly-owned subsidiary of Srei Infrastructure Finance Ltd --and UCO Bank to collaborate, co-operate and widen theirrespective markets and customer base, it said.The strategic alliance will also allow both lenders toleverage each other's customers and cross-sell their products."UCO Bank's strong track record and wide reach,especially in eastern India, makes us confident about thesuccess of this programme," said Sunil Kanoria, vice-chairman,Srei. The alliance will also help in fulfilling thegovernment's vision of making credit available to MSME andretail customers in the infrastructure space at an affordablecost, he said. DCRBT RBT

Srei Equipment, UCO Bank enter pact for joint loans

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersPresident Donald Trump with Turkish President Tayyip Erdogan in the Oval Office, November 13, 2019.</div></div></div><ul class="summary-list"><li>Turkey's October incursion in Syria further strained ties with the US that have frayed for months over Ankara's purchase of a Russian-made air-defense system.</li><li>Those disputes add to longstanding rifts in NATO, which relies on Turkey as a major player in a strategically important region.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>The White House meeting this month between President Donald Trump and Turkish President Recep Tayyip Erdogan yielded no progress on two major issues dogging the long-time allies.Ankara has spurned US demands that it not activate its Russian-made S-400 air-defense system, and it isn't backing down from its incursion in Syria that the US and others have criticized.Despite that strife, however, NATO officials have maintained that the alliance is strong."Turkey has been an important ally of that alliance since the mid-1950s. That situation has not changed. The geostrategic reasons for Turkey's membership have not changed ... and [it] plays a full role in the NATO command structure," Air Chief Marshal Sir Stuart Peach of the UK's Royal Air Force, who heads the NATO Military Committee, said this month at a <keyword id="6354810" type="UNKNOWN" weightage="100" keywordseo="defense">Defense</keyword> Writer's Group breakfast in Washington, DC.But with the S-400 purchase alone, NATO is "already skirting going beyond that definitive shift" in intra-alliance relations, according to Omar Lamrani, senior military analyst at the geopolitical analysis firm Stratfor.Turkey arming itself with Russian weaponry would erode "interoperability, which is quite necessary ... to work with other NATO members and to have a combined focus and combined objective," Lamrani said.Turkey doesn't need to leave NATO to weaken it. Just a lack of Turkish cooperation could undermine the alliance in a strategically important region.

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