Skip to content
It’s a bearish start to the day as investors lock in gains from Friday. A move back through the morning highs by the early afternoon would signal a breakout...
(Bloomberg) -- Bondholders of Reliance Home Finance Ltd. have petitioned India’s National Company Law Tribunal to recover 35 billion rupees ($495 million) after the firm missed payments, Economic Times reported citing a copy of the application.IDBI Trusteeship, which represents the bondholders, wants the tribunal to seize Reliance Home Finance’s assets and bar the company from agreeing to any debt resolution deal with other lenders. The petition was under the Companies Act and a bankruptcy application is “not actively under consideration for now,” according to the report.Reliance Home Finance said it would challenge the petition.Its bondholders include Nippon India Mutual Fund, SBI Mutual Fund, Indian Iron and Steel PF, an arm of sovereign-backed SAIL, Oriental Bank of Commerce, Emami group entity Frank Ross, the National Bank for Agriculture and Rural Development, and Maharashtra government-owned SICOM, according to the report.(Adds detail in second paragraph. A previous version of this story corrected headline and...
(Bloomberg) -- President Nicolas Maduro ordered a 67% increase in Venezuela’s monthly minimum wage, the first this year and the eleventh in the past 24 months.The presidential decree, announced by pro-government lawmaker Francisco Torrealba on Twitter, boosts the minimum wage to 250,000 bolivars ($3.61 at the official exchange rate), up from 150,000 bolivars. In addition, workers will receive a food bonus of 200,000 bolivars, for a total minimum income of 450,000 bolivars, according to Torrealba’s publication of an image from an extraordinary edition of the Official Gazette dated Jan. 9.The new hike, which applies retroactively as of Jan. 1, threatens to refuel hyperinflation after restrictive monetary policies helped slow the pace of price increases in 2019. Still, the increase is well below the 275% hike of Oct. 2019, which lifted the minimum wage enough to buy about 4 kilograms of beef. The new salary, however, is not enough to buy one...
Dividend paying stocks like BAIC Motor Corporation Limited (HKG:1958) tend to be popular with investors, and for good......
