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Bloomberg Quint
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CCI Approves Sanlam, Shriram Credit's Stake Acquisition In Shriram AMC
- The Competition Commission of India (CCI) has approved the stake acquisition of Shriram Asset Management Co by Sanlam Emerging Market (Mauritius) Ltd and Shriram Credit Company.
- Sanlam Emerging Market (Mauritius) Ltd is set to acquire 23% of the expanded voting share capital of Shriram Asset Management Co via preferential allotment.
- In addition to the preferential allotment, Sanlam Emerging Market (Mauritius) Ltd and Shriram Credit Company have received approval for acquiring up to 26% shareholding of Shriram Asset Management Co from the public.
- Shriram Asset Management Co is a part of the Shriram Group and is engaged in the asset management business.
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Bloomberg Quint
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346
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Trump Schedules Tariff Negotiations But Plans 104% Hit On China
- US President Donald Trump is planning to implement tariffs amounting to 104% on many Chinese goods as trade talks with China appear distant.
- Trump anticipates negotiating trade deals with countries beyond tariffs, including a positive outlook on a trade deal with South Korea.
- Despite potential agreements with other nations, tensions with China persist with Beijing showing no signs of backing down from a trade war.
- China has threatened retaliatory duties on American goods, and Trump vows further tariffs if Beijing does not comply.
- Trump's tariffs on over 60 trading partners, including China and South Korea, will go into effect, leading to a market rebound.
- The US Trade Representative reaffirmed that Trump's tariffs will be implemented while expressing willingness to negotiate for reciprocity.
- Trump has prioritized talks with allies like Japan and South Korea over engaging with China, despite pressure from other nations seeking relief.
- Conflicting signals emerge from the Trump administration on exemptions for nations seeking tariff relief, with criticisms from some aides over the tariff regime.
- Elon Musk criticized Trump's tariff announcement and called trade counselor Peter Navarro 'truly a moron' in a public post.
- Italian Prime Minister Giorgia Meloni is expected to negotiate tariff relief directly with Trump, while Wall Street braces for the impact of escalating trade tensions.
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Pymnts
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265
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Octane Secures $6.75 Million for AI-Powered Cybersecurity Solution for Blockchain
- AI cybersecurity startup Octane has secured $6.75 million in a seed funding round.
- Octane will use the funding to develop its platform that uses machine learning to analyze blockchain codebases, identify vulnerabilities, and remediate them.
- The platform helps developers catch bugs before deployment and offers code analysis for off-chain codebases as well.
- The seed funding round was co-led by Archetype and Winklevoss Capital.
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Bloomberg Quint
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371
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Domestic Demand To Aid India's Growth Amid US Tariffs, Says Finance Minister Sitharaman
- India will continue to grow despite the conditions of global trade brought about by US trade tariffs, according to Finance Minister Nirmala Sitharaman.
- India's growth will be driven by the economy's resilience and strong domestic demand, attracting foreign investment.
- Sitharaman highlighted India's readiness to capitalize on domestic efficiencies and competitiveness amidst global economic challenges.
- India's strong domestic demand will attract foreign direct investment and encourage international manufacturers to supply the local market and export from India.
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Bloomberg Quint
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12
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Odisha Gets Investment Proposals Worth Rs 1 Lakh Crore
- The Odisha government has signed 13 MoUs including Indian Oil Corp.'s dual-feed naphtha cracker project and received 15 other proposals worth a total investment of Rs 1.03 lakh crore, which will create employment for over 95,000 people.
- Among the 13 MoUs, the most significant one was the agreement between the state government and the Indian Oil Corp. for the establishment of a dual-feed naphtha cracker project. This agreement is expected to bring in investments of over Rs 58,042 crore generating employment for 24,000 people.
- In addition to the MoU with Indian Oil Corp., agreements were also signed with the Indian Strategic Petroleum Reserves Ltd. and Petronet LNG, reinforcing Odisha's strategic role in India's petrochemical landscape.
- The investment proposals and MoUs are expected to boost industrial activity, foster economic growth, and position Odisha as a hub for industry in the petrochemical and technology sectors.
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Bloomberg Quint
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115
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Improving India-UAE Educational Ties May Lead To Mutual Recognition Of Degrees
- India and the UAE are strengthening educational ties with the establishment of IIT and IIM campuses in Dubai.
- The deep partnership between India and the UAE is expected to pave the way for mutual recognition of degrees.
- Such recognition would allow professionals, such as doctors, from both countries to practice without additional qualifications or courses.
- The two nations also discussed potential cooperation in areas such as nuclear energy, critical minerals, renewable energy, and AI.
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Bloomberg Quint
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329
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India-Dubai Business Forum: Bharat Mart Construction To Be Completed By 2026-End, Says Piyush Goyal
- Bharat Mart, to be constructed by DP World, will serve as a marketplace to provides Indian traders, exporters, and manufacturers access to markets in the Middle East, Africa and Eurasia.
- India and Dubai have announced six strategic partnerships including the construction of Bharat Mart, which will be completed by the end of 2026.
- DP World will also connect India and Africa through sea and air connectivity by operating ports, economic zones, and logistic parks in both regions.
- The deepening of business relations between India and the UAE comes amid the tariffs imposed by US President Donald Trump on all trading partners.
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Bloomberg Quint
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334
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NBCC, RailTel Partner To Develop Data-Centre Projects
- NBCC (India) Ltd. has signed a strategic memorandum of understanding with RailTel Corp. to develop data-centre projects in India and overseas for five years.
- NBCC will provide project management consultancy services for construction of data-centre buildings and related civil or passive infrastructure, as per agreement.
- RailTel will provide services related to planning, designing, supply, installation, testing, commissioning, operations and maintenance for IT-related infrastructure for data centres.
- This collaboration is designed to leverage the core competencies of both organisations, enabling them to supplement each other's capabilities and enhance client acquisition and service delivery efficiency on a long-term, sustainable basis, as per filing.
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Bloomberg Quint
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372
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Trump Tariffs: Piyush Goyal To Meet Exporters On April 9
- Commerce and Industry Minister Piyush Goyal will hold a meeting with exporters on April 9 to discuss issues pertaining to India's trade amid the imposition of additional 26% reciprocal tariffs by US President Donald Trump-led administration.
- Senior officials of the commerce ministry and representatives of export promotion councils (EPCs) and the Federation of Indian Export Organisations (FIEO) will attend the deliberations.
- Exporters will flag their concerns and possible opportunities from the US tariffs, as it may impact demand in the US, hurting India's exports.
- India's merchandise exports have declined for the fourth month in February due to global economic uncertainties, and sectors such as shrimp, carpet, medical devices, and gold jewelry will face the impact of the 26% additional import duties announced by the US.
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Bloomberg Quint
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273
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Buy, Sell Or Hold: Cochin Shipyard, RIL, LIC, UltraTech, Power Grid, Wipro, Ireda — Ask Profit
- Analysts provided insights on Cochin Shipyard, RIL, LIC, UltraTech, Power Grid, Wipro, Ireda, and Ola Electric Mobility.
- For Cochin Shipyard, analysts suggest holding and selling, expecting a bounceback towards Rs 1,700.
- RIL is advised as a buy opportunity due to being at a 52-week low with possible demerger expectations, while LIC is recommended for selling due to the low life insurance penetration in India.
- UltraTech Cement is seen as a hold option in the cement industry's favorable outlook, and Power Grid is advised as a hold with expectations of positive short-term performance.
- Wipro is recommended for buying based on strong support levels, while Ireda is suggested for holding but may take time for significant wealth creation.
- Ola Electric Mobility is advised for selling due to competition challenges and recent performance issues.
- Viewers are advised to consult their financial advisers before making any investment decisions.
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Pymnts
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AI Startups: SignalFire Raises $1 Billion to Invest in AI Startups
- Venture capital firm SignalFire has raised over $1 billion to invest in AI startups.
- The funding will be used for seed to Series B investments in applied AI.
- SignalFire uses AI and data to identify and develop high-growth startups.
- The firm has developed Beacon AI technology to analyze data and guide investment decisions.
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Eu-Startups
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UP Catalyst raises €18 million to advance the EU’s critical raw material production
- Tallinn-based UP Catalyst secures €18 million loan from the European Investment Bank (EIB).
- Funding will be used to scale up the molten salt electrolysis process for producing critical raw materials.
- UP Catalyst aims to address the deficit of graphite and strengthen the resilience of EU industries.
- The company plans to expand production to meet the growing demand for carbon nanotubes and graphite.
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Bloomberg Quint
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349
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Signature Global’s Q4 Business Updates: Sale Bookings Decline 61% To Rs 1,620 Crore
- Signature Global's sale bookings in Q4 declined by 61% to Rs 1,620 crore.
- Annual collections rose by 41% to Rs 4,380 crore, attributed to strong customer confidence, timely execution, and successful new launches.
- Pre-sales in FY2024-25 increased by 42% to Rs 10,290 crore, surpassing the annual guidance of Rs 10,000 crore.
- Signature Global reduced net debt to Rs 880 crore and achieved an average sales realization improvement.
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Bloomberg Quint
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414
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BPCL, Sembcorp Sign JV Pact To Explore Renewable And Green Hydrogen Projects In India
- BPCL and Sembcorp have signed a joint venture agreement to explore renewable and green hydrogen projects in India.
- The partnership aims to support India's energy transition and development goals.
- The potential projects will include green ammonia production, bunkering, emissions reduction, and other emerging green fuel technologies.
- Sembcorp, with a renewable energy capacity of 17 GW, is well-positioned to enable large-scale, low-cost green hydrogen production.
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Pymnts
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329
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Anecdotes Raises $30 Million to Automate Risk and Compliance Tools
- Governance, risk and compliance (GRC) provider Anecdotes has raised $30 million in new funding.
- The new financing brings Anecdotes' total Series B funding round to $55 million, allowing the company to automate risk and compliance tools.
- The Israeli company aims to help enterprises scale GRC, automate operations, and ensure proactive and effective risk management.
- Anecdotes plans to accelerate the development of AI agents and automation to help GRC teams identify gaps, assess risks, and take faster action.
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