Morning buzz: Sebi probe likely to suggest no lapses by Adani companies, 20% export duty on parboiled rice, and more
Here are the top business headlines this morning, to get your day started
The Adani Group is in talks with Abu Dhabi Investment Authority (ADIA) and International Holding Company (IHC) for an investment of $2 billion by selling stakes in its subsidiaries.
Image: Sam Panthaky / AFP
Adani Group to tap ADIA and IHC for funding
The Adani Group is in talks with Abu Dhabi Investment Authority (ADIA) and International Holding Company (IHC) for an investment of $2 billion by selling stakes in its subsidiaries. The group intends to pare its stake in Adani Enterprises and Adani Ports and Special Economic Zones. In addition Adani Green Energy is looking to raise $5 billion through global bonds for the addition of 25 gigawatts by 2030.(Financial Express)
Government imposes 20 percent export duty on parboiled rice
In a bid to keep rice prices under control, the government imposed a 20 percent duty on parboiled rice as well as notified a minimum export price of $1,200 per tonne for basmati rice exports.This has been done to prevent food prices from rising in an election year. Earlier, exports of broken rice and wheat had been banned and a 40 percent duty on the export of onions was imposed.
(Economic Times, Financial Express,Mint)
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