Govt to initiate investor outreach for IDBI Bank sale from Feb 25
The government will start roadshows with investors for the strategic disinvestment of IDBI Bank from February 25 as the Centre and Life Insurance Corporation of India (LIC) look to sell their stake in the lender to a private buyer.
The preliminary interest of investors will be gauged from the exercise as the government looks to undertake the first-ever strategic disinvestment of a public sector lender (although majorly owned by LIC). Read more here
I-T dept searches Chinese telecom major Huawei's offices in three cities
The Income-tax department has conducted searches at multiple premises of Chinese telecom company Huawei in the country as part of a tax evasion investigation, official sources said on Wednesday.
The raids were launched at the company's premises in Delhi, Gurugram (Haryana) and Bengaluru in Karnataka on Tuesday. Read more here
Moody's revises outlook on Vedanta to negative; affirms B2 rating
Global rating agency Moody's has changed the outlook from “stable” to “negative” on Vedanta Resources Ltd (VRL) reflecting large near-term refinancing requirements amid tightening liquidity in the capital markets.
It, however, affirmed VRL’s “B2” corporate family rating (CFR) and the B3 rating on the senior unsecured notes issued by VRL and those by Vedanta Resources Finance II Plc. Read more here
Russian pullout meets NATO scepticism, Ukraine defence website still hacked
Russia said more of its forces surrounding Ukraine were withdrawing on Wednesday but NATO urged Moscow to prove it was pulling back, saying there were signs that more troops were on the way.
Britain joined the United States in saying it had yet to be convinced the pullout was real, while in Ukraine, the defence ministry said an unprecedented cyber attack was into its second day. Russia said it had nothing to do with any attack. Read more here
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