Page-37 of Economy & Banking Current Affairs

Albatross Amphibious Aircraft and HDS-AAI Deal

March 24, 2023

Hawking Defence Services, an Indian defence firm, has entered into a procurement cum partnership agreement with Amphibian Aerospace Industries (AAI), an Australia-based aircraft manufacturer, to manufacture the Albatross Amphibious Aircraft. Features of the Albatross Amphibious Aircraft The Albatross Amphibious Aircraft ..

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Additional Tier 1 Bonds and Credit Suisse’s Write-Down

March 23, 2023

The recent purchase of Credit Suisse, a Swiss bank, by its rival UBS, has left investors struggling to understand the deal. One outcome that is causing significant distress is the decision to write down around SFr16bn ($17bn) in Additional-Tier 1 ..

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IMF’s $3 Billion Bailout Programme for Sri Lanka

March 23, 2023

On March 20, the International Monetary Fund (IMF) cleared a $3 billion-Extended Fund Facility (EFF) for Sri Lanka, aimed at restoring macroeconomic stability, safeguarding financial stability, and unlocking the nation’s growth potential. Sri Lanka defaulted on its foreign debt in ..

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Adani’s Mundra Petrochem project

March 21, 2023

The Adani Group’s Mundra Petrochemicals project has been suspended as part of the Group’s “comeback strategy” to regain investor confidence amidst allegations of accounting fraud and corporate governance lapses. The project aimed to set up a greenfield coal-to-PVC plant at ..

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UBS

March 21, 2023

UBS, Switzerland’s biggest bank, recently agreed to purchase Credit Suisse in a move that aims to contain the panic that ensued after two American banks collapsed earlier this month. This unique acquisition has sent shockwaves throughout the banking industry and ..

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Foreign Exchange Reserve

March 20, 2023

Foreign exchange reserves are the assets that a country’s central bank or monetary authority holds to ensure a balance of payments in the country, maintain stability in the financial market, and influence the foreign exchange rates of the currency. These ..

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PM MITRA Parks

March 18, 2023

The Indian government recently announced the establishment of seven PM MITRA Parks in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh. These parks are inspired by Prime Minister Narendra Modi’s 5F vision, which aims to boost the ..

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herSTART

March 18, 2023

Union Minister Dr Jitendra Singh recently highlighted the newly created ‘herSTART’ platform, which aims to support women-led startups and encourage women entrepreneurs. The platform was launched in October 2022 by the Gujarat University Startup and Entrepreneurship Council (GUSEC). The platform ..

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