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Shares of Concord Biotech ends 27% higher in debut at $1 bn valuation

The Ahmedabad, Gujarat-based company opened at 900.05 rupees, a 21.5% premium to its initial public offer (IPO) price of 741 rupees

RBI allows infra debt funds to raise money via foreign loan route

IDF-NBFCs were earlier allowed to raise funds through rupee or dollar-denominated bonds of minimum five-year maturity, to the extent of up to 10 per cent of their total outstanding borrowings

Abu Dhabi's TAQA may invest up to $2.5 bn in Adani's power units: Report

TAQA may acquire a stake through a combination of primary infusion and secondary purchase of shares from promoter family entities

Oil rises on strong travel demand, China's move to soothe economic woes

Brent crude futures rose $1.24, or 1.5% to $84.70 a barrel by 11:18 a.m. ET (1518 GMT). U.S. West Texas Intermediate crude (WTI) was up $1.48, or 1.8% at $80.86 a barrel

World Cup: New Zealand to tour Bangladesh for three ODIs for preparations

New Zealand will tour Bangladesh for the first time in 10 years when they travel to the country for a split ODI and Test series in September and November

ArcelorMittal eyes US Steel in bid worth over $7 billion, says report

The buy would reverse ArcelorMittal's retreat from US as a production base

RBI bought net $4.50 billion in spot foreign exchange market in June

The RBI purchased $7.79 billion and sold $3.28 billion, the bulletin showed. In May, the central bank had bought a net of $7.37 billion in the spot market

Walmart raises forecasts, tops sales estimates on lower price offers

Walmart is also benefiting from lower supply-chain costs and fewer discounts that were previously put in place to cut down excess inventory

JSW Steel considers 75% interest in Teck's coal business 'Elk Valley'

The potential deal could value the business at $8 billion, said a report, rivaling an earlier bid by Swiss commodities giant Glencore

India's OIS factors in one more rate hike, bond yields near top: Traders

Banks have been asked to maintain an incremental cash reserve ratio of 10% on increase in deposits between May 19 and July 28, and this would withdraw over one trillion rupees ($12.03 billion)

India August retail inflation expected below 7%: Motilal Oswal's Gupta

Retail inflation rose as of last count as prices of vegetables and cereals skyrocketed, beating all market expectations and putting pressure on the government to bring down prices

Morgan Stanley cuts China's 2023 economic growth forecast to 4.7%

Earlier this week, J.P.Morgan cut China's 2023 GDP growth forecast to 4.8 per cent from 5 per cent earlier, while Barclays cut it to 4.5 per cent

China's property woes: Implications of the debt crisis at Country Garden

Since the sector's debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers

Footwear maker Bata India in partnership talks with Adidas: Report

The retailer, which houses brands such as Hush Puppies and Scholl, is likely to tie up with Adidas for the Indian market, as per the report

India mulls wheat imports from Russia at discount to calm prices: Reports

The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July

Eye hospital chain Dr. Agarwal's raises $80 million from TPG, Temasek

The top shareholder of publicly listed Dr. Agarwal's Eye Hospitals plans to operate 300 hospitals by the end of 2025. It currently has over 150 hospitals, including in African countries like Nigeria

RBI likely sold dollars via PSBs to keep rupee from record lows: Traders

The RBI likely sold dollars to pull the rupee back near the 83 level

Fed officials divided in July over need for more rate hikes, minutes show

In general, the minutes said, Fed policymakers agreed that the level of uncertainty remained high, and that future interest rate decisions would depend on the "totality" of data arriving

OpenAI acquires start-up Global Illumination to work on ChatGPT, products

Global Illumination most recently worked on open-source technology related to online game production

Oil prices stabalies as China economic fears counter tight US supply

Brent crude futures edged up 6 cents to $84.95 a barrel by 11:35 a.m. EDT (1535 GMT), while U.S. West Texas Intermediate crude (WTI) fell 2 cents higher to $80.97 a barrel