Mahindra talking to investor to offload majority Ssangyong stake

Mumbai:  Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra will hold 30 per cent  or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan […]

Mukesh Ambani ordered to pay $2 million fine by Indian regulator SEBI

India’s market regulator ordered billionaire Mukesh Ambani and his conglomerate Reliance Industries Ltd. to pay a combined penalty of 400 million rupees ($5.5 million) for allegedly violating share-trading rules about 13 years ago. In its order dated January 1, the Securities and Exchange Board of India said Reliance and its agents operated to allegedly earn […]

Dubai Municipality to exempt businesses from double fines

Dubai: As part of Dubai Municipality’s keenness to support the business sector and commercial activities, the Municipality is preparing to launch an initiative to exempt companies from paying double fines for their violations. The companies that violated the provisions of the legislations covered by decrees related to occupational health and safety violations, sewage violations, public […]