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Brookfield entity Sagen to pick up 31% stake in IMGC

New Delhi, Apr 28 (PTI) India Mortgage Guarantee Corporation (IMGC) on Thursday said Sagen MI Canada has agreed to acquire 31 per cent stake in the mortgage guarantee firm for an undisclosed amount. The proposed transaction will close after the receipt of statutory and regulatory approvals, IMGC said in a statement. Sagen, the largest private-sector [...]

India’s offset requirements major hurdle in defence trade: Ex-Pentagon official

Washington, Apr 28 (PTI) India offers huge opportunities for the US in bilateral defence trade but its offset requirements pose an enormous challenge in doing business with the country, a former top Pentagon official has told top American lawmakers. Ellen Lord, who previously served as the Under Secretary of Defence for Acquisition and Sustainment (A&S), [...]

BPCL, HPCL walk away with city gas licenses in latest bid round

New Delhi, Apr 27 (PTI) State-owned Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have bagged two licenses each for retailing CNG to automobiles and piped cooking gas to households in the latest bid round, regulator PNGRB said on Wednesday.Seven companies had put in 21 bids for city gas licences in five [...]

ONGC inks MoU with Norway’s Equinor for E&P, clean energy

New Delhi, Apr 27 (PTI) State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday said it has signed a pact with Norwegian energy giant Equinor ASA for collaboration in oil and gas exploration and production as well as clean energy projects.The memorandum of understanding (MoU) was inked on April 26, the company said in a [...]

Furniture startup WoodenStreet raises USD 30 million

New Delhi, Apr 27 (PTI) Online furniture and home decor platform WoodenStreet on Wednesday announced that it raised around USD 30 million (Rs 230 crore) in the latest funding round led by WestBridge Capital. The investment was done at a valuation of Rs 1,200 crore and it was a mix of primary and secondary investment, [...]

ED attaches Rs 6.17cr of fintech firms under PMLA

New Delhi, Apr 27 (PTI) The Enforcement Directorate (ED) on Wednesday said it has attached funds worth Rs 6.17 crore of various fintech companies in a case linked to dishing out mobile-app based loans at exorbitant interest rates to gullible people during the COVID-19 crisis. A provisional order to attach the money was issued under [...]
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