Seattle Daily Star

The Indian government’s long-awaited plan to privatise IDBI Bank has gained momentum, with Canada-based Fairfax Financial Holdings reportedly leading the race to acquire a controlling stake in the lender. If the deal is completed, it could be valued between $5.5 billion and $5.7 billion , making it one of the largest foreign investments in India’s banking sector. The proposed transaction remains under review, with no final decision announced. However, it has already attracted significant attention due to its potential impact on India’s banking industry and the government’s broader disinvestment agenda. The proposed acquisition remains under review, and authorities have not yet announced a final decision on the transaction. Government and LIC to Sell Majority Stake The Centre and the Life Insurance Corporation of India (LIC) are jointly planning to sell a 60.7% stake in IDBI Bank. The government currently holds around 45.5% , while LIC owns nearly 49.2% , giving them a combined stake...

The International Cricket Council (ICC) has approved sweeping changes to the formats of the Men’s ODI and T20 World Cups, introducing new competition structures designed to make every match more competitive and meaningful. The revised formats were announced during the ICC’s annual meetings in Edinburgh and will take effect from the 2027 ODI World Cup and the 2028 T20 World Cup. ICC revamps ODI and T20 World Cups with Super 7 and Eliminator playoffs. ODI World Cup to Feature Super Series and Super 7 Stage The 2027 Men’s ODI World Cup, to be hosted by South Africa, Zimbabwe, and Namibia, will retain its expanded 14-team format but with a significantly different structure. The tournament will begin with a Super Series , where the three lowest-ranked qualified teams will compete in a round-robin contest. Only the team finishing first will advance to the main tournament, while the other two sides will be eliminated before the group stage. The remaining 12 teams will then be divided into ...

The Sharad Pawar-led Nationalist Congress Party (NCP-SP) has indicated it may extend support to the Centre’s proposed Delimitation Bill, provided the legislation guarantees an equal 50% increase in Lok Sabha seats for every state. If the party ultimately backs the proposal, it would mark a significant departure from the broader Opposition’s stance on the issue. The development comes amid growing political speculation after reports of meetings involving senior leaders from both NCP factions and Maharashtra Chief Minister Devendra Fadnavis. The discussions have also fuelled renewed chatter about a possible thaw between the Sharad Pawar and Ajit Pawar camps. Speaking to reporters on Wednesday, NCP (SP) MP Supriya Sule clarified that the party’s final decision would depend entirely on the contents of the bill presented in Parliament. Sharad Pawar-led NCP is expected to support the proposed bills despite remaining outside the ruling National Democratic Alliance (NDA). She said the party w...

A South African animal welfare organization has called for urgent action regarding the large-scale export of wildlife to the newly established Vantara facility in India. The Wildlife Animal Protection Forum of South Africa (WAPFSA) is pressing for an independent scientific inquiry to ensure the well-being of the animals being sent to the Greens Zoological, Rescue, and Rehabilitation Centre (GZRRC), also known as Vantara. The Vantara facility, which opened in February 2024 and was officially inaugurated by Indian Prime Minister Narendra Modi on World Wildlife Day (March 3, 2024), is owned by Anant Ambani, son of industrialist Mukesh Ambani. The facility spans 3,000 acres in Gujarat, a region known for its high temperatures, which experts believe may not be suitable for the species housed there. Anant Ambani at Vantara WAPFSA’s concerns were formally expressed in a letter sent on March 6, 2025, to various ministries and authorities, including South Africa's Department of Forestry, ...

The role of CFOs is changing dramatically, with changes in regulatory environment, technology advancement, and the changing business environment. Sethurathnam Ravi , Founder of Ravi Rajan and Co. LLP, Chairman of TFCIL, and Former Chairman of BSE, explained the challenges in his speech at the BW CFO World Future of Finance Summit and Awards 2024. Sethurathnam Ravi BSE The Changing Nature of the CFO Role  S Ravi BSE  stressed how changing accounting standards, rules, and regulations in compliance to these norms of disclosure, are the main factors creating pressures against which CFOs are now moving forward. Complexity has evolved through IT infrastructure and increasingly with the threats of cyber-related malpractices. Regulatory Overhaul Necessity With the increase in corporate fraud and mismanagement, Ravi emphasized the need for regulatory reforms to protect shareholders and public investments. He explained that the changed business models and governance failures have increa...

  A mail sent to Bharat Global Developers by Sebi seeking comment did not elicit any response The Securities and Exchange Board of India ( SEBI ) has suspended trading in the shares of Ahmedabad-based Bharat Global Developers Ltd (BGDL) after an unprecedented 10,000% surge in its stock price over the past year. The market regulator’s action comes amid allegations of misleading disclosures and manipulated financial statements. Unexplained Stock Surge BGDL’s share price skyrocketed from ₹16.14 in November 2023 to ₹1,702.95 by November 2024, a staggering 10,451% increase. SEBI's interim order attributed this steep rise to questionable practices, including manipulated disclosures and suspicious preferential allotments. Shift in Shareholding Pattern Initially, BGDL had five promoters holding 16.77% of its shares as of June 2020. However, by September 2020, the company disclosed 100% public shareholding, with no promoter holdings. A significant management overhaul in December 2023 was fo...

  Nifty 50 formed a small red candle on the daily chart beside the similar positive candle The Indian stock market’s benchmark indices, Sensex and Nifty 50 , are expected to open higher on Thursday, December 26, 2024, driven by positive signals from Asian markets. However, many global equity markets remain closed today due to holidays. The trends on Gift Nifty indicate a positive start for the Indian market, with Gift Nifty trading at around the 23,800 level, a premium of approximately 30 points over the Nifty futures’ previous close. However, there is some caution as trends also suggest a modest start with Gift Nifty trading around the 19,440 level, reflecting a discount of about 30 points from the Nifty futures’ last close. On December 25, 2024 , both Indian and major global markets were shut for the Christmas holiday. In the last trading session on December 24, 2024 , the domestic equity markets ended in a choppy session with marginal losses. The Sensex fell 0.09%, closing ...