Pakistan’s ruling government has broken all previous records in the borrowing money in the first year of its tenure. As per official data, one-year regime of the present government Rs 7.509 trillion (Pakistani currency) increase was recorded in the total debt of the country. The State Bank of Pakistan has sent this borrowing data to the Prime Minister, Imran Khan's office, as per Pakistani media. The government has borrowed Rs 2.804 trillion from foreign sources and Rs 4.705 trillion from domestic sources, the also said. According to the State Bank data, 1.43 per cent surge was noticed in the public debt of Pakistan is merely the first two months of the current fiscal year. The debt of the federal government has reached to Rs 32.240 trillion that was Rs 24.732 trillion in August last year. Read Equit

Raymond Ltd is selling a 20-acre land parcel in Mumbai's Thane area to Xander-backed Virtuous Retail South Asia (VRSA) for Rs 700 crore as part of the textile firm's ongoing asset monetization plan. On BSE, Raymond said its associate firm JK investo Trade (India) Ltd (JKIT) has entered into an agreement to sell the Thane land to Elpis Ventures Ltd, an affiliate of VRSA for Rs 700 crore. VRSA is the retail development and investment arm of private equity firm Xander Group. Located at Raymond Junction adjoining the Singhania School, the land deal will bring significant commercial development in Thane, the company said. "The sale of JKIT land parcel is a major step towards our strategy of asset monetization and value creation for our shareholders," said Gautam Hari Singhania, Chairman and managing director Raym

From the last five week shares of Adani Green Energy Ltd have surged over 67 per cent, backed by heavy volumes. The stock has been gaining since 4th September and was up in 16 of 22 sessions. On Wednesday, the trade scrip all-time high of Rs 72.80 rising as much as 7 per cent, but this year it has risen to 71 per cent. On 4 October, the company informed exchanges that it has raised $362.50 million via a dollar bond issuance. The dollar bonds, which have a maturity of 20 years, bear an interest rate of 4.625%. The proceeds raised through the bond issuance will be used explicitly for three subsidiaries of Adani Green Wardha Solar (Maharashtra) Pvt Ltd, Kodangal Solar Park Pvt Ltd and Adani Renewable Energy (RJ) Ltd to repay their respective foreign currency loans, rupee borrowings, while the balance of the net p

The income tax department has newly launched e-assessment scheme, which seeks to end the physical interface between the assessee and tax officials. Revenue secretary Ajay Bhushan Pandey, who inaugurated the national e-assessment ecosystem in the capital on Monday, said it was an important milestone in the history of the tax department. Electronic notices have already been shared for the cases pertaining to the assessment year 2018-19 (FY-18). The IT department said that “taxpayers have been advised to check their registered e-filing accounts/email ids and have been requested to furnish a reply within 15 days.” Under e-assessment, cases will be referred to eight different e-assessment units across the country automatically. This is expected to improve transparency and reduce grievances related to over-pitch

Samsung is the world’s largest producer of mobile phones, and smartphone displays having the solid high demand for its Note 10 and for Apple Inc’s iphone11 Pro, which uses the company’s OLED displays. Shares rose as much as 1.4 per cent and had climbed 23 per cent this year through Monday’s close. This year, shares rose as much as 1.4 per cent and had climbed 23 per cent this year closed on Monday. Sales for the third quarter were 62 trillion won, beating the average projection compiled by Bloomberg of 61.14 trillion won. Samsung won’t provide net income or break out divisional performance until it releases final results later this month. The latest version of Samsung smartphone, which includes Galaxy Note 10 and Galaxy Fold, helped in cushion profit decline in the memory business. This display busin

Today, the third day of gold prices fall in the global market. Spot gold was down 0.2% to $1,489.80 per ounce. On Monday, Gold Futures prices in India fell sharply closed at Rs 38060 on MCX, down 0.71 per cent. Later on, when trading opens gold prices are likely to feel downward pressure amid a weak global trend. Silver futures prices on MCX on Monday also moved lower, ending 0.48% lower at Rs 45,160. The minutes of US Federal Reserve's September meeting is also due later this week. Gold traders will look for clues whether the Fed will cut rates at its next meeting. The correction in gold prices has lifted hopes of a pick up in domestic retail buying. Meanwhile, the government has opened sovereign gold bonds for subscription to tap the festive investment demand for gold. The 2019-20 - Series V of gold bonds ope

The Supreme Court on Monday, the Maharashtra government to stop cutting trees in Mumbai’s Aarey Colony, intervening in a spiralling war between conservationists and the state authorities that led to several arrests. However, no clarity on the number of trees that have already been felled over a two-day cutting spree on Friday and Saturday to make way for Mumbai’s Metro rail expansion. The court order came in response to public interest litigation filed by a group of law students. Next hearing will be on 21st October, the forest bench of the apex court. The law students had written to Chief Justice Ranjan Gogoi on Sunday, urging him to direct the state government to stop cutting trees. The Supreme Court registered the letter as a PIL and took suo motu cognizance of the matter. With the court closed for Dusseh

The Indian Hotel Chain, OYO Hotels & Homes, said it will raise $1.5 billion, as part of its Series F funding round. As a part of the round, RA Hospitality Holdings’ will infuse nearly $700 million as primary capital in the company, with the balance $800 million being supplemented by other existing investors. A significant part of the funds will be diverted towards continued growth in the US, and in strengthening the company’s position in the vacation rentals business in Europe. Earlier this year, RA Hospitality Holdings’ received approval from the Competition Commission of India to invest $2 billion in OYO. In order to facilitate this transaction, Lightspeed Venture Partners and Sequoia, are selling part of their shareholding in OYO to help the founder increase his stake. Ritesh Agrawal, founder