Top headlines: Tata group to take over Air India, Fed flags rate hike

The government is likely to put several non-strategic public sector undertakings on the block next year. More on that in top headlines.

The Federal Reserve on Wednesday signaled it is likely to raise US interest rates in March and reaffirmed plans to end its bond purchases that month as well. More on that in our top headlines this morning.

Future to sell 25% stake in insurance JV to Generali for Rs 1,253 cr 

Debt-ridden Future Group has announced that it will sell its 25 per cent equity in Future Generali India Insurance Company Limited (FGIICL) to its JV partner Generali for a cash consideration of Rs 1,252.96 crore as part of its asset monetisation plans to pair debts. Read more

GIFT City draws big players with biz sops; banks, PEs register with IFSCA 

The funds ecosystem in India’s maiden International Financial Services Centre (IFSC) in GIFT City is gaining significant momentum with more than 20 Alternative Investment Funds (AIFs) now registered with the IFSCA, the unified regulator for IFSCs in India. Read more

Budget 2022-23: Non-strategic PSU privatisation may see a push next year 

The government may put several public sector undertakings (PSUs) in non-strategic sectors on the block next year as it plans to continue with its privatisation push, said officials in the know. Read more

Fed flags rate hike 'soon', plans for significant balance sheet reduction 

The Federal Reserve on Wednesday signaled it is likely to raise US interest rates in March and reaffirmed plans to end its bond purchases that month as well before launching what was characterized as a significant reduction in its asset holdings. Read more

Tata Sons board to meet on Thursday for debt-laden Air India takeover 

Business Standard can confirm that the board of Air India and Tata Sons will meet on Thursday to formalise the handover the process. The existing board of Air India, which includes four functional directors, two government-nominee directors, chairman, and managing director (CMD), will resign and a board, consisting of Tata group executives, will take charge of the airline. Read more