The Punjab government has completed the payment of ₹1,426 crore to banks led by IDBI to complete the takeover of the debt-laden 540-MW GVK Power’s Goindwal Sahib thermal power plant. The money was distributed to banks late on Tuesday evening and equates to a recovery of 43% of their principal dues including some pass-through payments … Read more
NEW DELHI: A Palestinian doctor working at al-Ahli al-Arab hospital in Gaza City was detained by Israeli forces during their takeover of the hospital. Doctor Said Abdulrahman Maarouf described the abuse he endured during his 45-day captivity, including sleep deprivation, constant shackling, and blindfolding. He recounted being forced to sleep on pebbles without a mattress, … Read more
MUMBAI: Sony‘s decision to call off the merger of its India unit with Zee poses a significant threat to the Punit Goenka-led entity, as its precarious low promoter holding exposes it to a potential takeover bid and a leadership revamp.Goenka owns 4% in Zee, which was founded by his father Subhash Chandra in 1992. According … Read more
HOUSTON: Occidental Petroleum on Monday agreed to buy closely-held US shale oil producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest US shale oilfield. The deal comes amid a new wave of shale consolidation underpinned by Exxon Mobil’s $60-billion proposed deal for Pioneer Natural Resources and … Read more