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SEBI Allows Physical Settlement Of Stock Derivatives
The stock market regulator Securities & Exchange Board of India (SEBI) allowed physical settlement of both stock options and stock futures. At present only cash settlement of derivatives is allowed. SEBI stated stock exchanges will also have the flexibility to offer a combination of cash settlement for stock options and physical settlement for stock or physical settlement for stock options and the cash settlement for stock futures.
Vice -President M Venkaiah Naidu launches NTR biopic
Vice -President M Venkaiah Naidu officially launched the most anticipated biopic of legendary actor and former Andhra Pradesh Chief Minister N T Rama Rao. The opening ceremony took place at Ramakrishna Horticultural studios here. Naidu pointed out that President, Vice –President doesn’t attend film events but out of his respected and love for NTR, he opted to witness the historic moment. Speaking on this occasion, Naidu underlined the contribution of legendary actor and described NTR as the pride of Telugu People all over the World. The Vice -President extended his best wishes to Nandamuri Balakrishna who will be essaying the role of the great actor and heaped praises on the entire team for helming the epic tale.
Himachal Pradesh gets 80 million dollar loan from ADB to help boost employability of state
In a bid to help boost the employability of the state, the Asian Development Bank (ADB) agreed to give 80 million dollar loan to Himachal Pradesh. The funds given by ADB will help in the modernization of technical and vocational education and training (TVET) institutions and improve skills ecosystem in Himachal Pradesh. Notably, Asian Development Bank and Indian government on Wednesday signed 80 million dollar loan to help modernize Technical and Vocational Education and Training, TVET institutions and improve the skills ecosystem in Himachal Pradesh. This fund will be initiated in strengthening the ability of educated youth of the state. The Project will help seize this opportunity by providing support in developing relevant and good quality TVET programs thereby improving employment prospects of nearly 65 thousand youths by 2022
JSW Steel buys Ohio-based steel mill Acero for $81 million
Enhancing its focus further in the US, JSW Steel has acquired Acero Junction Inc, an Ohio-based steel mill, for $81 million (about Rs. 526 crore). With an annual production capacity of three million tonnes (mt), Acero has an electric arc furnace, ladle metallurgy furnace and continuous slab casting machine.
The acquisition comes close on the heels of JSW Steel announcing plans on Monday to invest $500 million ( Rs. 3,250 crore) in its existing plant at Baytown in Texas. The company in a statement on Thursday said it has entered into a stock purchase agreement with JSM International, Acero Junction Holding Inc and Acero Junction Inc for acquisition of 100 per cent share of Acero Junction Holding Inc, for a cash consideration of up to $80.85 million.
RBI slaps Rs. 58.9-cr penalty on ICICI Bank for violating security sale guidelines
IThe Reserve Bank of India has slapped a monetary penalty of Rs. 58.9 crore on ICICI Bank for non-compliance with regulatory directions on direct sale of securities from the bank’s Held To Maturity (HTM) portfolio and specified disclosure in this regard.
The is probably the highest penalty that the regulator has imposed on a commercial bank in recent times.
Sachin sanctions Rs.40 lakh for school construction in Kashmir
Former cricketer and MP Sachin Tendulkar has sanctioned 40 lakh from his Members of Parliament Local Area Development Scheme fund for construction of a school building in Drugmulla area in Jammu and Kashmir.
Sachin has requested for 10 classrooms, four laboratories, administrative block, six toilets and an assembly/prayer hall in the school.
Abiy Ahmed becomes new PM of Ethiopia
Ethiopia’s ruling coalition has elected a new leader in the person of Dr. Abiy Ahmed. He will eventually become Prime Minister of the country. State-affiliated FANA Broadcasting Corporate (FBC) reported late Tuesday that the
Ethiopian Peoples Revolutionary Democratic Front (EPRDF) had elected Abiy as its chairperson.