Latest Developments

Asia
The Hindu BusinessLine

Kolkata-based Anmol Industries files draft papers with SEBI for ₹1,800-crore IPO

The IPO, with a face value of ₹5 per equity share, is entirely an offer for sale (OFS) of equity shares aggregating up to ₹1,800 crore by the promoter entity Baijnath Choudhary & Family Trust. The company will not issue any fresh shares and will not receive any proceeds from the offering. The offer is being made through the book-building process. Not more than 50 per cent of the net offer will be allocated to qualified institutional buyers (QIBs), while not less than 15 per cent and 35 per cent of the net offer will be assigned to non-institutional bidders and retail individual bidders, respectively. Anmol Industries manufactures biscuits, cookies and cakes. Its product portfolio is supported by a strong family-pack offering, which contributed 23.85 per cent of its revenue from sale of products in fiscal 2026 and generated ₹485.5 crore. As of the date of the DRHP, the company operates a network of seven manufacturing facilities located across key regions including Uttar Pradesh, Bihar, West Bengal and Odisha. These facilities have an aggregate installed capacity of 360,965 tonnes per annum for biscuits and cookies and 16,372 MTPA for cakes as of March 31, 2026. Manufacturing operations are supported by technology-enabled processes and defined quality control systems that help maintain consistent product quality while enabling efficient production. The company has received certifications and recognitions across product quality, food safety and manufacturing standards. The filing marks Anmol's return to the IPO market after an earlier attempt in 2018. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Kolkata-based Anmol Industries files draft papers with SEBI for ₹1,800-crore IPO
Asia
The Hindu BusinessLine

J Infratech files IPO papers; eyes ₹600 cr via fresh issue

J Infratech Ltd, an integrated infrastructure engineering, procurement and construction (EPC) firm, has filed preliminary papers with the market regulator Sebi for an initial public offering (IPO) comprising a fresh issue of shares worth ₹600 crore. Apart from the fresh issue, the company's proposed IPO comprises an offer for sale (OFS) of 1 crore equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Friday. The Haryana-based company may also consider a pre-IPO placement of up to ₹120 crore. In case the placement is completed, the size of the fresh issue will be reduced accordingly. The proceeds from the IPO will primarily be utilised to meet working capital requirements, repay or pre-pay certain borrowings and for general corporate purposes. J Infratech is an integrated infrastructure engineering, procurement and construction (EPC) company focused on roads, highways and bridges, with experience in executing large-scale road development projects involving specialised structures across India. The company commenced operations in 2005 through its partnership firm, Jandu Construction Co, which was subsequently converted into J Infratech in 2019. As of July 31, 2026, the company had completed 35 projects and was executing 46 projects across 16 states and three Union Territories. The equity shares proposed to be offered through the IPO are proposed to be listed on both BSE and NSE. Systematix Corporate Services is the book-running lead manager to the issue, and KFin Technologies is the registrar to the offer. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

J Infratech files IPO papers; eyes ₹600 cr via fresh issue
Asia
The Hindu BusinessLine

3-day nationwide bank strike called off

Bank managements have averted a major three-day nationwide strike, which was to begin today, by agreeing to form a high-level committee of the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU)to deliberate on the issue of five-day work week. This will ensure that banks have a smooth half-yearly closing on September 30th. Had this understanding between bank managements and bank unions not been reached in a late evening meeting on September 27 (Sunday), branches of public sector banks (PSBs), regional rural banks (RRBs) and old generation private sector banks across the country would have been closed for three-days (from September 28 to September 30), causing inconvenience to the public. “Today (September 27th) at 9.30 pm there was a meeting between IBA and UFBU After due deliberations, it was decided that a high-level committee of IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. This committee will explore, all possible alternatives; discuss with all stakeholders, and work out a solution acceptable to all stakeholders and, more importantly, the customers,” UFBU said in a statement. As regards the PLI (productivity linked incentive) Scheme for Scale IV and above officers, the discussions can start with IBA to propose modifications to the Government in the scheme to address the observations of the Unions/ Associations, it added. Further, the residual issues as listed in the March 8, 2024 minutes will be discussed between the parties for expeditious resolution. In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred. PSBs and RRBs across the country kept their branches open on Sunday following Finance Ministry directive in this regard in the backdrop of the UFBU calling for a three-day nationwide bank strike to press for implementation of its demand for 5-day work week. Old generation private sector banks (PvSBs) too kept their branches open as their operations are expected to be affected as the old guard in these banks will be joining the strike. Some of the new generation PvSBs, especially those with currency chest operations, kept select branches open. In order to ensure that the genuine banking needs of the public are not adversely affected for an extended period,all Public Sector Banks and Regional Rural Banks will function normally on Sunday, the 27th of September, 2026, the finance ministry said in a September 23rd statement. The ministry noted that the Reserve Bank of India has granted approval for all bank branches, offices, ATM-link branches and Currency Chests to remain fully operational on September . Devidas Tuljapurkar, Chairman, Banking Education Training Research Academy, and trade union leader, said: “The demand for a five-day weekis neither unreasonable nor unprecedented. Banking institutions in most countries function through a five-day working structure. “Within India, the Reserve Bank of India, insurance institutions, financial regulators, government offices, stock exchanges and most major financial-sector institutions already follow five-day working.

3-day nationwide bank strike called off
North America
CNBC Finance

Stephen Curry says his Li-Ning signature shoe will debut early next year

Curry announced in June he had struck a deal with the Chinese shoe company after his 13-year partnership with Under Armour came to a close. "I think it was a great run," Curry said of his relationship with Under Armour, adding the decision to end the relationship was "mutual." "Sometimes good things do come to an end," he said. "I don't have any regrets of how anything happened." Curry said he was looking for longevity, legacy and global reach in a new partner. He signed a 10-year, $400 million contract with Li-Ning, according to ESPN. "I tried literally everything, and there was a reason that Li-Ning stood tall at the end because the product reigned supreme," he said. The four-time NBA champion also said he was influenced by Golden State Warriors teammate Jimmy Butler and former NBA player Dwyane Wade, who also represent Li-Ning. Curry said he will wear Li-Ning shoes designed by Butler and Wade until his own product comes out. Entering his 18th NBA season, Curry said he has no plans to test free agency or retire when his contract runs out in 2027. He said he'd like to remain with the Golden State Warriors. "I want to be a lifer with Golden State," Curry said. "What we've built there, the fact that I get to run it back with Draymond [Green] and Coach Kerr ... my interest and mission is to stay and be competitive. ... The contract stuff will take care of itself." Curry acknowledged he tried to recruit LeBron James to join the Warriors after the former Laker announced he was leaving that team. James ultimately signed a two-year, $8 million contract with the Philadelphia 76ers, per various media reports. "If anybody didn't [try to recruit him], I think they'd be a fool," Curry said. "It was a good time for the NBA — obviously with a guy of his stature, his notoriety, to be in that position where he got to choose where he wanted to go." Curry spoke to CNBC from an event at the Bethpage Black Golf Course with the Underrated Golf Tour, a national junior golf circuit he founded to provide access to young and underrepresented golfers.

Stephen Curry says his Li-Ning signature shoe will debut early next year
North America
CNBC Economy

Why de-dollarization discussions are more talk, less action

When BRICS leaders met over the weekend, they talked about the economic power of the Global South and the need to expand trade in local currencies, signaling a push to cut dependence on the greenback. The bloc aims to reduce its reliance on the greenback due to geopolitical tensions, economic sanctions, and the U.S. tariff policy, experts said. However, they raised doubts about the ability of the BRICS to wean away from the dollar. For years, the term "de-dollarization" has come up from time to time, especially when confidence in the U.S. is shaken. The idea is simple: Countries mostly transact in the U.S. dollar today, thereby underpinning most of the world's financial systems. For example, two of the world's most traded commodities, oil and gold, are denominated in the greenback. Data from the Bank of International Settlements reveals that the U.S. dollar made up 89% of the forex market — up 1 percentage point from a year earlier — while the euro and the yen made up 29% and 17%, respectively, as of April. South African President Cyril Ramaphosa said in his address at the BRICS Summit that BRICS should "press ahead with greater use of local currencies, stronger cross-border payment systems and deeper financial interconnectivity." Energy-rich economies such as Iran and Russia, two members of the BRICS, whose ability to trade in dollars has been hampered due to U.S. sanctions, also urged the bloc to develop payment, settlement and depository infrastructure within BRICS. The current financial system is "vulnerable to political shocks due to its concentration on a limited number of currencies," Iranian President Masoud Pezeshkian said, hinting at the need to diversify away from the dollar. Yet lack of financial and macroeconomic integration, wide trade imbalances and deep distrust between key member states, such as China and India, are the biggest hurdles the BRICS need to cross before it breaks free from the hegemony of the dollar, experts said. The BRICS lack the unified institutional, financial, and macroeconomic infrastructure needed to substitute the "inherent liquidity and trust" of the dollar globally, Jayant Krishna, senior fellow at the Center for Strategic and International Studies, told CNBC. The most common mention of de-dollarization is usually among the BRICS countries. U.S. President Donald Trump has in the past threatened the bloc with tariffs if they moved away from the dollar. "We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. dollar, or they will face 100% Tariffs and should expect to say goodbye to selling into the wonderful U.S. Economy," Trump wrote. Collectively, 10 BRICS member countries accounted for 27% of world output, 24% of merchandise exports, and 22% of foreign direct investment inflows in 2024, a United Nations Trade and Development report said in March.

Why de-dollarization discussions are more talk, less action
North America
Yahoo Finance

US Stock Futures Fall Ahead of Fed Meeting as Oil and Treasury Yields Rise: Dow Jones, S&P, Nasdaq, Wall Street

© Carol M. Highsmith Archive, Library of Congress, Prints and Photographs Division US stock futures moved lower on Tuesday ahead of the Federal Reserve’s two-day monetary policy meeting, while investors also monitored higher oil prices, Treasury yields and developments in the Middle East. At 03:20 ET, Dow futures were down 266 points, or 0.5%, while S&P 500 futures declined 28 points, or 0.4%. Nasdaq 100 futures fell 90 points, or 0.3%. Wall Street’s main indices also declined in the previous session. Semiconductor shares moved lower, with the Philadelphia Semiconductor Index recording its largest daily decline since July. The benchmark 10-year US Treasury yield moved above 5% for the first time since 2023 as investors assessed the potential inflationary impact of higher energy prices. “It was another session where September lived up to its reputation as the worst month of the year for asset performance, with bonds and equities continuing to struggle,” Deutsche Bank analysts said. The analysts said they would also monitor US Treasury Secretary Scott Bessent’s testimony to the House Financial Services Committee “to see if he tries to lean in some credible way against the rising tide of bond yields.” The Federal Reserve was due to begin its two-day policy meeting on Tuesday, with its interest-rate decision scheduled for Wednesday. Markets were pricing in approximately a 92% probability of a 25-basis-point rate increase, according to CME FedWatch. Such a move would take the federal funds target range to between 3.75% and 4%. Deutsche Bank analysts said markets were also pricing approximately 90 basis points of rate increases by the Fed’s June 2027 meeting, two basis points more than the previous day. Recent US economic data have shown continued inflationary pressures alongside resilience in the labour market, factors investors are considering when assessing the outlook for monetary policy. Oil prices extended recent gains as investors monitored developments affecting Middle Eastern supply routes.

US Stock Futures Fall Ahead of Fed Meeting as Oil and Treasury Yields Rise: Dow Jones, S&P, Nasdaq, Wall Street
Asia
The Hindu BusinessLine

Amit Shah flags off India’s 1st LNG train; targets zero diesel use in Railways by 2030

Union Home Minister Amit Shah with Gujarat Chief Minister Bhupendra Patel, and others, flags off India's first dual-fuel LNG train from Sabarmati Railway Station, in Ahmedabad, Gujarat. Indian Railways’ push to phase out diesel gained a fresh leg-up on Sunday, with Union Home and Cooperation Minister Amit Shah flagging off the country’s first LNG-powered train from Sabarmati station and setting a 2030 deadline for zero diesel use. Shah said diesel consumption by the Railways had fallen from 293 crore litres in 2015-16 to 108 crore litres in 2024-25, a reduction of about 63.1 per cent, and said the government aims to bring the figure down to zero by 2030. He said the reduction would also help save foreign exchange. “During 2015-16, Indian Railways used to consume 293 crore litres of diesel. By 2025-26, this reduced to 108 crore litres and by 2030 we will reduce it to zero and save forex. This is a big achievement which is seldom noticed,” Shah said at the launch event. The LNG train launch marks a further step in the Railways’ efforts to reduce its dependence on conventional diesel and diversify its fuel mix. The LNG system has been introduced in the train’s Driving Power Cars (DPCs), with the engines capable of running on both LNG and diesel. Under the project, two 1,400 HP DPCs have been converted to LNG-diesel dual-fuel systems. More than 2,000 km of field trials have been completed on the converted DPCs to test the technology’s performance and reliability. The system can replace up to around 40 per cent of diesel consumption with LNG, according to Railways. The dual-fuel configuration allows the engine to switch between LNG and diesel depending on fuel availability, ensuring that train operations can continue even when LNG is unavailable. The Railways expects the LNG system to lower fuel costs and emissions while retaining the power and operating performance of conventional diesel engines. Each DPC has been fitted with an LNG tank of around 2,200 litres capacity. The move comes alongside a broader electrification drive that has significantly reduced the Railways’ reliance on diesel traction. Shah said 99.6 per cent of India’s broad-gauge railway network has been electrified, with work underway on the remaining network. Shah also sought to place India’s electrification progress in a global context. “In China the electrification is 92 per cent, in Spain it is 68 per cent, France it is 60 per cent, and in a small country like Britain it is 49 per cent. Only Sweden has completed 100 per cent electrification but our railway network is 10 times bigger than that of Sweden,” he said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Amit Shah flags off India’s 1st LNG train; targets zero diesel use in Railways by 2030
Europe
BBC Business

Lib Dems vow to end 'computer says no' economy to boost growth

Liberal Democrat deputy leader Daisy Cooper has warned the UK's economic growth is being held back by a "computer says no" approach. She unveiled a 30-page growth plan aimed at removing barriers to business as part of her speech to the Lib Dem conference in Brighton. Cooper, who is also the party's Treasury spokesperson, said too many ideas, start-ups and research started in Britain but ended up being taken overseas. She also outlined a new Growth and Defence Partnership with the EU to reverse the economic damage of Brexit, that she claimed is currently costing the UK £90bn a year in lost tax revenue. Speaking on stage in Brighton, she said: "We build brilliant start-ups, and watch too many leave to scale somewhere else. We produce world-class research, and too little of it becomes a British product." "Britain has the potential," she went on. "The system holds it back. The computer says no. "This plan tears down the barriers to investment, to innovation, and to skills." Cooper called for the creation of a digital one-stop-shop service for businesses and investors, combining tax, regulatory, legal, Companies House, and general business services. Creating this within a new Department for Growth would simplify red tape and help small and medium-sized businesses compete and grow, she said. Cooper said a new Growth and Defence Partnership with the EU, would be the "single biggest growth lever we could pull" by deepening ties with Europe. "It could turbo-charge our economy and start to reverse the economic damage of Brexit which is currently costing us £90bn a year in lost tax revenue," she said. "In power, we will strike the deal on the single market, we will strike the deal on a customs union, we will strike the deal on defence."

Lib Dems vow to end 'computer says no' economy to boost growth
Europe
The Guardian

‘Do you have to be dead?’: US coalminers plead for benefits as black-lung disease cases surge

A coalmine in Wharton, West Virginia. The Trump administration is moving to boost the coal industry. Photograph: Ricky Carioti for The Washington Post via Getty ImagesView image in fullscreenA coalmine in Wharton, West Virginia. The Trump administration is moving to boost the coal industry. Photograph: Ricky Carioti for The Washington Post via Getty ImagesUS unions‘Do you have to be dead?’: US coalminers plead for benefits as black-lung disease cases surgeTrump says he digs coal – but pneumoconiosis cases are at a 50-year high, and sick miners are mired in benefit delays After retirement, Armes, 74, of Grundy, Virginia, was diagnosed with black lung disease, medically known as coal workers’ pneumoconiosis (CWP), caused by breathing in coal dust over long periods, which irreversibly damages the lungs. Armes has required an oxygen tank to breathe for the past four years or so, along with regular doctor visits and an albuterol inhaler to help when he has trouble breathing. Even with the supplemental oxygen, he’s severely limited in what he can physically do. In 2014, Armes received notice that the federal black lung benefits he had been receiving for more than three years were being appealed against by a coal operator. For the last 12 years, he and his family have been in an appeals process limbo, trying to regain their benefits while Armes’s condition progresses. The federal black lung program was created in 1969 to provide coal miners disabled by black lung with monetary compensation and medical benefits. But the Armes family is just one of many who have struggled with appeals and long delays in obtaining federal black lung benefits. Those delays come as the Trump administration moves to boost the coal industry and as cases of black lung are surging – reaching a nearly 50-year high, according to data published in the American Journal of Respiratory and Critical Care Medicine last month. According to a May report by the government accountability office (GAO), 7,709 miner beneficiaries were receiving black lung benefits in 2024. The report was requested in 2023 by Democratic senators Mark Warner, John Hickenlooper, Tim Kaine, and John Fetterman, who have also introduced legislation to improve the black-lung benefits system. In the fiscal year 2025, about 22,500 beneficiaries, including dependents, survivors, and miners, were receiving black lung benefits. Between 2013 to 2024, 40% of approved claims by the Department of Labor were disputed, generally by coal operators. The May report said miners have expressed problems with obtaining black-lung benefits. It said miners have been forced to wait several years for their claims to be approved, and raised issues with coal operators filing appeals. “I can’t figure out one thing. They sent me a paper that said I got first- and second-stage black lung. That ought to be enough, or do you have to be dead?” Armes said. View image in fullscreenLisa Emery, director of the Breathing Center and Black Lung Clinic at New River Health in Oak Hill, West Virginia, shows an X-ray of the lungs of a miner suffering from black lung disease. Photograph: Pierre Hardy/AFP/Getty ImagesHis daughter, Crystal Armes, said obtaining the black lung benefits is an arduous process, involving paying out of pocket for medical tests and finding a lawyer to take on the case. She also argued that the law should change so that coal companies shouldn’t be able to appeal after benefits are awarded.

‘Do you have to be dead?’: US coalminers plead for benefits as black-lung disease cases surge