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GLOBAL-OIL/Oil edges up as market shrugs off U.S. inventory surge

MSCI said last week it would cut the weightings of four Adani Group companies, including flagship firm Adani Enterprises , in its indexes after reassessing the number of shares that are freely traded.

This is the first time RBI has released a list with “current application status” for all payment aggregators, saying it is in the interest of “greater transparency.” The list, the banking regulator said, would be updated every fortnight. The current status is as of February 15 and scrutiny of applications is still underway.

"We do not know how the geopolitical tension will pan out in the coming days. Both the US and China are important markets for us," said Vipul Shah, chairman of Gem & Jewellery Export Promotion Council (GJEPC). Tensions between the US and China flared in recent weeks with the US forces shooting down a suspected Chinese spy balloon off South Carolina coast and the two countries trading charges of running surveillance operations.

The dollar bond will be launched as early as next month and the rupee loan will be in place by end of this month, both sources said. The dollar bond will be issued at the holding company level - ReNew Power Private Limited (RPPL).

Triton had offered ₹210 crore in cash to creditors of AMW Motors at more-than-94% haircut to lenders that have admitted claims of ₹3,756 crore. The NCLT had approved the plan in December giving Triton 45 days to complete the transaction. However, Triton failed to make the payment in the stipulated time as a result of which the guarantee was invoked, people familiar with the matter said.

The Swiss challenge auction is scheduled on February 27, according to a notice issued by the bank early this week. If the offer by the ASREC is not challenged, it will equate to a recovery of 40 paise on a rupee for J&K Bank.

Total LPG consumption in India amounted to 21,256 thousand metric tonnes from April-December 2022, up 1.8% from a year earlier, according to the oil ministry. The consumption by households, which comprise about 89% of total consumption, was up barely 0.3% year-on-year but sales to commercial users saw a surge. Packed LPG sold to commercial customers increased 18.4% while bulk LPG went up 12% year-on-year.

"There are several other discussions that we have been having with private equity investors who are interested in making an investment in Biocon Biologics and that will help us bring down the $1.2 billion debt ... help us reduce the interest component that we see in the P&L," Shreehas Tambe, chief executive officer and managing director of Biocon Biologics, said in an interview.

In a letter addressed to Finance Minister Nirmala Sitharaman, the Finance Industry Development Council (FIDC) has said that the budget provision would dent the ₹75,000-crore industry and sought parity in the taxation framework for all debt products.